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The Era of Knowledge Economy and Forth Industrial Revolution (4IR)

18 April 2020

Dear Shareholders and Wowos, 

I hope you are all doing well and safe. 

Tonight I am reflecting on the topic of what then post Covid-19 and I am reminded of the article that I wrote on 17 November 2019 titled, “The Era of Knowledge Economy and Forth Industrial Revolution (4IR): the need to learn new skills. In that article, available here: https://www.linkedin.com/pulse/era-knowledge-economy-forth-industrial-revolution-4ir-wonga-ntshinga/, I stated, “Developing countries, such as ours with an unemployment rate of over 29%, need to take note that there will be less and less need for building factories which employ large number of unskilled workers as AI and robotics advances year after year (Ford, 2019). Fernando (2019, p. 33) argues that developing countries must, “face the new reality, accept the job loss and consider encouraging companies to move into new industries that emerge due to AI””

 

I then concluded as follows in that article: 

 

“There is a lot of work and success that has been done and achieved in AI, ML and cognitive computing. However, there is an opportunity in this space and technology development, particularly for data analysts, and judging by the table above, there are still plenty of jobs and careers that remain on demand and that robots will need assistance from.”

 

Regards, 

Wonga 

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