Will Technology Grow African Economies?
Across Africa, more people have access to cell phones than toilets or clean drinking water. This is according to Bhaskar Chakravorti, Dean of global business at The Fletcher School in Massachusetts, USA.
With the growing adoption of digital technology in line with 4IR, experts opine that it could leapfrog struggling economies from poverty to economic growth and stability.
However, the answer to the question of a technological turnaround depends on national policies and a country’s wealth. Tech-friendly governments had assisted Kenya and South Africa (SA) to emerge as digital economy leaders. Healthy competition in a digital economy could potentially reduce inequalities.
Kenya is already a hive of digital transformation while in SA, change is driven by a young citizenry eager to embrace digital business and Smart technology. Africa is stepping up to the plate with Egypt, Nigeria, Rwanda and Ethiopia predicted as having the largest potential for the greatest 4IR gains.
There is no doubt that CZ Electronics is paving the way right from the start of the 4IR. Our products are manufactured to meet the quest for the latest design and manufacturing innovation while offering every competency required and ensuring continued consumer satisfaction.
Our electronics’ selection of quality HDR, FHD and UHD TV’s in a large variety of sizes meet the growing demand for state-of-the-art technological solutions. The company’s STB, OTT and audio products also offer an enviable range of choices, specifically adapted to local needs. With continued vision and excellent understanding of market trends, supported by knowledgeable and experienced staff, CZ Electronics is truly Bringing Tomorrow Home.
Usage of Smart technologies and new interaction models
The industries most likely to have the biggest impact are those with the ability to embrace advanced analytics and sensors, cloud computing and robotics as well as nannomaterials and additive manufacturing (3D printing). These are all considered of prime importance for the future of manufacturing. Much interest had been expressed among SA manufacturers to better leverage the potential of technology in our manufacturing processes and the supply chain.
Get ready for exponential speed of change
Manufacturing companies would need to prepare for the depth
and speed of change in traditional manufacturing during 4IR. Urgency is required with increasing competition as many new entrants to the market would challenge traditional players. A long-term strategic plan for the techno environment will necessitate staying abreast of trends predicted to impact the industry. Disruptive innovation will change the rules of current business.
The demand for the latest technologies should create space for development and establishment of new business areas, which could in future, become central to a company’s actual business.
Organise your business for pull
To move from a push-world to pull-based business model will require organisational change in a company in order to re-invent and profit from the exponential growth and digital transformation. The ability to confront and change should be at the core of any sustainable progressive change.
It is important to tap into the passion of those employees who will
be essential in transformation and able to embrace change and explore new possibilities. The workplace itself would need to be redesigned to encourage employees to work cross-functionally and more collaboratively. Definite spaces for creativity should be established where continuous experimentation and innovation of new, scalable business models could be designed that would break existing barriers across traditional areas of product innovation.
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