Harnessing the power of Fourth Industrial Revolution Tech for Social Impact

In 2016, Professor Klaus Schwab, founder and executive chairman of the World Economic Forum, introduced the groundbreaking concept of the Fourth Industrial Revolution (4IR) through his eponymous book. He highlighted its distinctive nature, emphasizing its integration of the physical, digital, and biological realms, influencing diverse disciplines, economies, and industries, and prompting profound reflections on human identity.

A closer examination of the digital advancements during this period underscores Schwab’s assertions. Our era has witnessed the rapid proliferation of transformative technologies such as artificial intelligence, blockchain, the Internet of Things (IoT), and robotics, catalyzing unprecedented changes across industries and societies.

Stepping beyond these technologies’ massive influence on business and industry makes one consider their potential to drive positive social change. As a tech company, MTN believes the benefits of 4IR could lead to a transition towards a more equitable future in countries like South Africa. Much can be achieved by using technology to reduce the chasm between social classes, or, as we put it, the ‘digital haves’ and the ‘digital have-nots’.

Africa has one major advantage when it comes to using developing 4IR technologies to overcome the deficits created by a lack of infrastructure and geographical distances. The continent has one of the largest cell phone penetration rates in the world. The World Bank and the African Development Bank report that there are about 650 million users in Africa. Astonishingly, they say, in some African countries more people have access to a mobile device than clean water, a bank account or electricity.

It is not surprising, then, that mobile devices and digital resources are being used to leapfrog Africa’s deficits and that many of Africa’s problems are being solved through digital innovation.  At MTN, these technical advances have enabled us to shape and enhance both our business offerings and philanthropic, corporate social investment programmes by using our platforms as a launching pad.

In fact, the newly launched MTN Converged Solutions is aimed at consolidating these best practices and new technologies in one place central to production, certifying efficient processes and spreading them where they make sense.

The education programmes provided by the MTN SA Foundation and its partners, promote digital awareness in the young and a move into science, technology, engineering, and mathematics (STEM) at the tertiary level. This leads naturally to our role at Enterprise Development; our purpose is to stimulate digitally based SMEs, encourage our developers and digitally talented people and build an innovative sector in South Africa. This will benefit the economy, a society that is increasingly reliant on 4IR technologies and tech companies like MTN that always require digitally empowered employees.

The challenge, of course, lies in the future.  As we promote and enable the technically inclined amongst us, new technologies are emerging and have yet to be used to their fullest extent- the positive side is that these changes create even more opportunities for companies and individuals wishing to find a new niche for themselves.  

Contemplating the potential of immersive educational environments employing Virtual Reality (VR) and Augmented Reality (AR) to enhance our CSI and business interventions opens a realm of possibilities. Similarly, the trajectory of AI’s development and its implications for companies, careers, and our collective future remain subjects of intense debate and scrutiny.

What remains indisputable is the swift evolution of technology in this third decade of the 21st century, paralleled by escalating demands for a workforce proficient in cutting-edge tech skills. However, merely possessing technologies is insufficient for fostering these skills; interactive learning experiences, online courses, and skill-building platforms are imperative.

As businesses, leveraging AI to pinpoint skill gaps and tailor personalized learning paths is pivotal in ensuring that employees and students acquire the competencies essential for the digital economy. Collaborating with educational institutions and training providers to craft programs attuned to industry requisites facilitates smoother transitions into the workforce.

Small businesses constitute the bedrock of numerous economies, including South Africa. Harnessing 4IR digital platforms, e-commerce, and cloud-based solutions can further empower these enterprises to access global markets. AI-driven tools hold the potential to streamline operations, automate tasks, and furnish invaluable insights for strategic decision-making.

The advent of digital lending innovations has the capacity to level the playing field, enabling small businesses to compete with larger counterparts and catalyzing economic growth. Essentially, the efficient integration of new technologies into society, coupled with their widespread dissemination, amplifies the potential for tangible, positive change.

Having an understanding of tech and in-house expertise required to run and adapt the operations of a major telecom provider does not necessarily mean having the skills to identify, develop and introduce tech where it is needed. Increasingly, this role is being assumed by partnerships with entrepreneurs who have built solutions that supplement corporate offerings.

We need to look no further than the burgeoning Fintech sector to see examples of this. Here, mainstream financial institutions have formed relationships to bring banking and a range of services to previously unbanked people.

The technology of the 4th Industrial Revolution may have permeated all aspects of our lives. Still, if as socially aware businesses, we heed the words of Professor Schwab, we can ‘together shape a future that works for all by putting people first, empowering them, and constantly reminding ourselves that all of these new technologies are first and foremost tools made by people for people.’