As the Fourth Industrial Revolution steadily entrenches in economies throughout the world, South Africa needs to “channel” the technological changes to relate to the structure of its own economy and specific needs.

This means South Africa will need a more grounded approach to move into the Fourth Industrial Revolution to get maximum benefit out of the opportunities offered by the new technologies emerging, says Department of Trade and Industry industrial development adviser Dr Nimrod Zalk.

Speaking at a ‘Making Sense of the Fourth Industrial Revolution’ dialogue, he highlighted that the country required an approach to overcome “very specific” developmental challenges.

“South Africa needs to look at its capabilities [in terms of] where, realistically, it can move to, and how best to take advantage of these implemental steps into the introduction of technology in order to address the challenges in the South African economy,” he says.

This needs to further be linked to the nation’s own developmental objectives through the accommodation of structural and racial transformation within the economy.

The Fourth Industrial Revolution is characterised by a confluence of technological, economic and social change, which necessitates a reorientation of industrialisation.

“These processes that affect technology challenge us to relook into our economy so that we can harness some of these technologies to address the many serious long-term weaknesses which have been characterised by low investment and by lack of diversification of the kinds of investments that we will be making in the economy,” he says.

South Africa needs to strategise around a competitive economy and identify development strategies for key sectors where technological changes will challenge business models and operations.

“Developing countries such as South Africa and the broader African region need to proactively engage with the implications of expedited technological changes for processes of industrialisation and development,” concludes Zalk.