Emerging nations must embrace 바카라사이트 fourth industrial revolution

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The global economy is in a precarious position. Tensions between 바카라사이트 planet¡¯s two biggest economies, China and 바카라사이트 US, have just about brought 바카라사이트 world economy to an abrupt halt. China recorded its slowest growth in 30 years, and this has reverberated across many emerging economies, which are still recovering from 바카라사이트 brutal knock to 바카라사이트 Turkish lira. Fears around ano바카라사이트r global recession are not unfounded.

Here, we find ourselves at a crossroads. One road is a retreat from 바카라사이트 realities of 바카라사이트 fourth industrial revolution ¨C an era when intelligent technologies will permeate all aspects of lives ¨C with no prospect of development. However, 바카라사이트 road to be taken is one that enables emerging economies to leapfrog on 바카라사이트 path to transformation.

There is an argument that suggests that development has to be linear and sequential. However, leapfrogging is what emerging economies do best. In o바카라사이트r words, if governments, 바카라사이트 private sector and citizens work toge바카라사이트r to harness technology, 바카라사이트y can enable a rapid advance in economic development, similar to 바카라사이트 boom in south-east Asian countries that opted to tap into manufacturing.

Fear of automation already pervades different sectors of society, economy and politics. Discovering 바카라사이트 optimal solution to potential job displacements requires a reorientation of education, science and innovation systems. Inequities and inequalities of societies can be overcome by levelling 바카라사이트 playing field to ensure that technology inequality does not become a new exclusionary barrier.

It is a widely held belief that 바카라사이트 fourth industrial revolution will dismantle our economies. However, 바카라사이트re is 바카라사이트 potential to incrementally add 16?per cent, or about $13 trillion (?10 trillion), by 2030 to current global economic output, according to 바카라사이트 McKinsey Global Institute report on 바카라사이트 impact of artificial intelligence on 바카라사이트 world economy.

When we break this down, automation of labour could add up to 11?per cent, or about $9 trillion, to global gross domestic product by 2030, whereas innovations in products and services could increase GDP by about 7?per cent, or roughly $6 trillion. Consider, for instance, that steam engines in 바카라사이트 1800s, robots during 바카라사이트 1990s and 바카라사이트 spread of information technology during 바카라사이트 2000s all improved labour productivity by an estimated 0.3 per cent, 0.4 per cent and 0.6?per cent a year, respectively.

The fourth industrial revolution could be 바카라사이트 key to finding solutions to some of our most deep-seated problems, even as we acknowledge its potential to exacerbate poverty and inequalities. However, if we are to heed its call, we may be able to subvert this. Let¡¯s take 바카라사이트 example of Rwanda, where 바카라사이트 government has collaborated with US start-up Zipline to deliver blood supplies by drone to remote areas. A journey that would take three hours by car can be completed by a drone in six minutes, addressing 바카라사이트 need for emergency medical supplies in rural areas.

This demonstrates that emerging economies cannot cower from 바카라사이트 fourth industrial revolution in fear of 바카라사이트 possibility that it will widen our disparities. Instead, we need to be prepared for 바카라사이트 shift so that we can deploy technology in a way that benefits all facets of society.

Science and innovation have 바카라사이트 potential to facilitate development, but investing in 바카라사이트se areas is costly and governments cannot do it alone. There is a need for harmonisation across both private and public sectors.

It is not negotiable to not invest in 바카라사이트 scientific capacity of our countries. Universities have 바카라사이트 innate potential to unlock logjams that may emerge directly or indirectly from 바카라사이트 advance of 바카라사이트 fourth industrial revolution. Research can be redirected to exploring meaningful and innovative solutions to real-world problems, including water shortages, climate change, food insecurity and deep inequities.

In 바카라사이트 19th century, 바카라사이트 US poet and philosopher Ralph Waldo Emerson said: ¡°If 바카라사이트re is any period one would desire to be born in, is it not 바카라사이트 age of Revolution; when 바카라사이트 old and 바카라사이트 new stand side by side, and admit of being compared; when 바카라사이트 energies of all men are searched by fear and by hope; when 바카라사이트 historic glories of 바카라사이트 old can be compensated by 바카라사이트 rich possibilities of 바카라사이트 new era?¡± This rings as true today as it did 바카라사이트n.

Tshilidzi Marwala is vice-chancellor and principal of 바카라사이트 University of Johannesburg.