The Potential of the Fourth Industrial Revolution to Promote Economic Growth and Development in Africa

Farai Mlambo () and David Mhlanga
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Farai Mlambo: School of Statistics and Actuarial Science, University of the Witwatersrand
David Mhlanga: University of Johannesburg

Chapter Chapter 5 in The Fourth Industrial Revolution in Africa, 2023, pp 71-87 from Springer

Abstract: Abstract We have entered a new era, dubbed the Fourth Industrial Revolution (4IR), as evidenced by the advent of new technologies and how they affect our daily lives. This is a time when the effects of digitization are growing and spreading in ways no one could have predicted. As a result, it is important to ponder the nature of the changes we are seeing and how we might work together and as individuals to ensure that the advantages accrue to the greatest number of people possible. Technology now dominates and permeates every aspect of our lives. We employ technology such as mobile phones, robots, and artificial intelligence (AI) powered by prediction algorithms to make educated estimates about what we might desire or do next among others. The goal of this chapter was to delve deeper into the specific changes taking place and the steps we can take as individuals and as a community to ensure that the technologies of the Fourth Industrial Revolution benefit everyone and not just a select few. This is because the changes will almost certainly have a detrimental impact on most individuals. In this chapter, we will discuss how the Fourth Industrial Revolution could help Africa’s economy grow and thrive.

Keywords: Fourth Industrial Revolution; Development; Economic growth; Africa (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:aaechp:978-3-031-28686-5_5

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DOI: 10.1007/978-3-031-28686-5_5

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