South Africa and the fourth industrial revolution

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

Abstract

The Fourth Industrial Revolution (4IR) is widely predicted to transform what have been manual-labour-dominated sectors in the production of goods and offering of services while driving wages down. South Africa is largely no exception, although we also note some unevenness and contradictory trends in this chapter. 4IR also presents numerous opportunities for the South African government, businesses, and consumers in terms of economic growth, efficiency, and cost-effectiveness. We conduct a review of recent trends in the 4IR worldwide and focus on such trends in South Africa through wages, key sectors, corporate sentiment, as well as government expenditure in research and development. There is indication that the country has a mismatch in the skills being produced and those required by the 4IR, while its GERD is substantially below the global average for 4IR leadership and equitable participation. 4IR Commission recommendations propose reforms, but over them looms the slow rate of implementation due to past poor execution of other plans in the digital and communications spheres.

Original languageEnglish
Title of host publicationThe Oxford Handbook of the South African Economy
PublisherOxford University Press
Pages489-509
Number of pages21
ISBN (Electronic)9780191915284
ISBN (Print)9780192894199
DOIs
Publication statusPublished - 8 Dec 2021

Keywords

  • 3D printing
  • 4IR
  • AI
  • GERD
  • Industrial revolution
  • IoT
  • PC4IR
  • Universal basic income

ASJC Scopus subject areas

  • General Economics,Econometrics and Finance
  • General Business,Management and Accounting

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