As we move inextricably towards the fifth industrial revolution (5IR), as Borg from Star Trek said, “resistance is futile”. There is no doubt that this change in how we live and work will become a reality and, as we have already seen, shifts are becoming evident in the world around us.
The key question then becomes one of how best to incorporate new technologies from Industry 5.0 into our lives to make them better. Some of the advantages that many expect from this technological revolution include more productivity through better use of people’s time, fewer errors, cost reduction through decreased waste, and the elimination of mundane tasks, as well as the ability to easily customise products.
While some of these tools are already here, notably through the buzzword of the decade – artificial intelligence (AI) – the true benefits of 5IR will come when its promise of harmonious machine and human collaboration for the benefit of all becomes a reality.
One aspect of 5IR that will benefit all is the fact that it is expected to bring more sustainable and ethical practices to bear. This is not only good news for the environment in a time when it’s highly likely that the world as a whole will miss the United Nations’ Sustainable Development Goal of net zero emissions by 2050, but also given that investors increasingly want to put their money into companies that can demonstrate good social, governance and environmental principles.
Through the clever use of data gleaned from IP-connected machines and systems, with data crunched through business intelligence software, companies will be able to better understand where there is, for example, water or electricity waste.
Perhaps the most obvious example here is if Joburg Water had sensors on the pipelines that immediately alerted it to bursts. Given, though, that all the pipes need replacing as 40% of water is wasted through this broken infrastructure this will, for now, remain a pipe dream.
This sort of solution cannot be implemented in the private sector for various use cases. Already, tracking units are used to help fleet companies plan routes, pick up on issues such as excessive idling, and get immediate notifications when a driver has been involved in an accident.
One aspect of 5IR that will benefit all is the fact that it is expected to bring more sustainable and ethical practices to bear.
This kind of information, when properly processed and used, is invaluable in helping companies cut down on costs, save time and help eliminate bad employee behaviour.
On another level, AI can be used, when properly trained, to pick up errors in accounting books and financial reports. Perhaps the implosion that was Steinhoff, often referred to as the biggest corporate scandal South Africa has seen, could have been avoided, or at least mitigated, if the company directors’ actions were revealed earlier.
To fully realise these benefits, however, we need to take our people with us. It will be pointless having a robot that can produce wonderful, customised pedestrian gates if there is no one there to design them.
Yes, AI can produce images that look pretty good. However, they had to get the basics that form that photo from somewhere, and that somewhere translates into a someone who put them on the internet.
If this sort of generative AI keeps working at the speed it has been, pretty soon it will start eating itself. There will be no originality. And that’s what people want. Something unique; made just for them.
Already, people can’t get away with ChatGPT writing their research papers for them. There’s an AI tool that checks for that.
Imagine getting your news from AI: every article will be the same unless there is someone to guide the process and provide direction. Even then, people read different publications to get different viewpoints and compare facts.
There is a real need for people to be involved in the process. And that means the creation of – and the need to teach – new skills. Robots, just one part of the AI equation, could eliminate 75 million jobs before this decade is out, but will result in a net positive gain of 60 million positions.
And every job means people with more spending power. This is key as consumer spending accounts for 60% of gross domestic product around the world.
Add to that more productivity, more competition and less wastage, and there is vast economic benefit to be had – if we take everyone with us.
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