Author: Dr Mmaki Jantjies
South Africa is a leading country in the innovation investment ecosystem across Africa, but the current rate of investment is falling short. With disruptive emerging technologies affecting societies, more collective investment is required to bolster the country’s innovation ecosystem and ensure that this investment is translated into improving everyday lives. As South Africa participates in the World Economic Forum (WEF) DAVOS 2024 this month, the impact of emerging innovative technologies such as AI on various economies will take centre stage. For example, “Artificial Intelligence as a Driving Force for the Economy and Society” is one of the key thematic areas…
South Africa’s place in the global digital revolution depends on our country’s ability to contribute to technologies that are both globally competitive and locally relevant. The World Bank estimates that the digital economy contributes more than 15% of global domestic product (GDP). Over the past decade, it has grown two and a half times faster than the brick-and-mortar economy, creating millions of new businesses and jobs in the process. The rapid advancements in technology have led to an unprecedented digital transformation across industries. According to Statistics South Africa, ICT is an enabler of socio-economic development and contributed an estimated sectoral…