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Stimulus will only work if capital invests in Fourth Industrial Revolution platforms

Published 18 October 2018, by Dr Iqbal Survé

President Cyril Ramaphosa has called the South African Investment Conference for October 25-27, 2018. The investment conference will hopefully attract solid investments into the South African economy.

With the low GDP growth of our economy, we need investments to fulfil the social mandate of the ruling party and government, to the majority of South African citizens.

South Africa’s high unemployment rate makes it imperative that we attract investment that should also result in further initiatives to reduce unemployment and inequality.

In China, investment under Deng Xiaoping after 1987 led to economic growth and almost 600 million people out of poverty.

More importantly, China has emerged as an industrialised economy and moved from a low-income country to a middle-income country.

What has perhaps not been noticed is that China is now on a par with the US in terms of the 4IR and platform initiatives or companies.

Many experts on the 4IR argue that China is on the verge of surpassing the US in the areas of Artificial Intelligence and Robotics.

South Africa has a young population and the South African economy is increasingly digitalised. Disruption is occurring at every level in the South African economy, whether it is in the banking sector, retail, media or even in the large-scale mining and industrial economies.

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