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EP14: Is South Africa Ready for 4IR? || Being An Analyst
Hi Fellow Analysts
Welcome to another exciting episode where we dive deep into the critical question: Is South Africa ready for the 4th Industrial Revolution (4IR)? 🌍💡
We have helped you tackle this question by discussing the following in this episode:
Urgent Need for Human Capital Investment: We unravel the pressing need to invest in human capital as a response to South Africa's alarming unemployment rate, reaching 30% in 2020, and the concerning brain drain witnessed in recent years.
Complex Unemployment Challenge: Explore the multifaceted nature of the unemployment challenge, extending beyond traditional metrics to encompass discouraged workers, potentially pushing the effective rate close to 40%.
Emigration of Skilled Workers: Delve into Statistics South Africa's estimation of highly skilled workers' emigration, highlighting the urgency for a comprehensive strategy to retain and attract professionals.
4IR Vulnerability: Uncover why South Africa is identified as one of the countries most vulnerable to 4IR disruptions, as showcased by the 2018 Human Capital Index figures from the World Bank.
Misalignment Between Economic Opportunities and Citizen Skills: Examine the mismatch between economic opportunities and citizens' skills, hindering the nation's ability to fully capitalize on available potential.
Lifelong Learning and Skills Stacking: Understand the advocated dynamic approach to skills development in the 4IR, emphasizing lifelong learning and the stacking of skills aligned with industry demands.
Mass Skills Development Projects: Learn about the recommended substantial investment in projects targeting mass skills development, particularly in key sectors such as manufacturing, agriculture, and tourism.
Cultural Shift Towards Reskilling: Explore the importance of a national culture shift towards reskilling, emphasizing collaboration across society and encouraging a continuous upskilling mindset.
Educational System Redesign: Discover the call for a redesign of the education system at all levels, promoting problem-solving skills, computational thinking, and multi-disciplinary skills to align with 4IR demands.
Collaborative Approach: Highlighting the necessity for collaboration among the government, private sector, labour unions, and academic institutions to effectively address the challenges and opportunities of the 4IR.
Government Prioritization: Understand the urgent call for government prioritization in redesigning the human-capacity development ecosystem, linking potential employees to decent work based on international labour policies.
Role of Stakeholders: Gain insights into the outlined roles for different stakeholders—private sector, labour unions, and academic institutions—in contributing to the successful adaptation to the 4IR.
Implementation Framework: Explore the proposed establishment of a comprehensive framework, facilitated by the Human Resource Development Council and driven by the Digital Skills Forum, ensuring a clear timeframe for deliverable objectives.
If you love insights like this, consider subscribing to our bi-weekly newsletter and WhatsApp group for daily insights or purchase our books on Amazon to grow the community
• Subscribe via Email: https://newsletter.beingananalyst.co.za/Â
• Join Analyst Chat on WhatsApp: [https://chat.whatsapp.com/JKBpoKrHO2xEkytlWtujGn]
• Books on Amazon: [https://amzn.to/4d6bX0K]
This podcast is dedicated to discussing the following: Analysis mindset, Data analysis, Career tips/ Career advice, Analyst career, Business analysis, Financial analysis, Analyst training, Analytics, Industry 4.0/4IR, Business intelligence, AI in business, Financial Reporting, Career development, Data science, IT strategy, Professional development, Analysis for SMMEs, and Data Industry trends
View all episodes
By Lisema MatsietsiHi Fellow Analysts
Welcome to another exciting episode where we dive deep into the critical question: Is South Africa ready for the 4th Industrial Revolution (4IR)? 🌍💡
We have helped you tackle this question by discussing the following in this episode:
Urgent Need for Human Capital Investment: We unravel the pressing need to invest in human capital as a response to South Africa's alarming unemployment rate, reaching 30% in 2020, and the concerning brain drain witnessed in recent years.
Complex Unemployment Challenge: Explore the multifaceted nature of the unemployment challenge, extending beyond traditional metrics to encompass discouraged workers, potentially pushing the effective rate close to 40%.
Emigration of Skilled Workers: Delve into Statistics South Africa's estimation of highly skilled workers' emigration, highlighting the urgency for a comprehensive strategy to retain and attract professionals.
4IR Vulnerability: Uncover why South Africa is identified as one of the countries most vulnerable to 4IR disruptions, as showcased by the 2018 Human Capital Index figures from the World Bank.
Misalignment Between Economic Opportunities and Citizen Skills: Examine the mismatch between economic opportunities and citizens' skills, hindering the nation's ability to fully capitalize on available potential.
Lifelong Learning and Skills Stacking: Understand the advocated dynamic approach to skills development in the 4IR, emphasizing lifelong learning and the stacking of skills aligned with industry demands.
Mass Skills Development Projects: Learn about the recommended substantial investment in projects targeting mass skills development, particularly in key sectors such as manufacturing, agriculture, and tourism.
Cultural Shift Towards Reskilling: Explore the importance of a national culture shift towards reskilling, emphasizing collaboration across society and encouraging a continuous upskilling mindset.
Educational System Redesign: Discover the call for a redesign of the education system at all levels, promoting problem-solving skills, computational thinking, and multi-disciplinary skills to align with 4IR demands.
Collaborative Approach: Highlighting the necessity for collaboration among the government, private sector, labour unions, and academic institutions to effectively address the challenges and opportunities of the 4IR.
Government Prioritization: Understand the urgent call for government prioritization in redesigning the human-capacity development ecosystem, linking potential employees to decent work based on international labour policies.
Role of Stakeholders: Gain insights into the outlined roles for different stakeholders—private sector, labour unions, and academic institutions—in contributing to the successful adaptation to the 4IR.
Implementation Framework: Explore the proposed establishment of a comprehensive framework, facilitated by the Human Resource Development Council and driven by the Digital Skills Forum, ensuring a clear timeframe for deliverable objectives.
If you love insights like this, consider subscribing to our bi-weekly newsletter and WhatsApp group for daily insights or purchase our books on Amazon to grow the community
• Subscribe via Email: https://newsletter.beingananalyst.co.za/Â
• Join Analyst Chat on WhatsApp: [https://chat.whatsapp.com/JKBpoKrHO2xEkytlWtujGn]
• Books on Amazon: [https://amzn.to/4d6bX0K]
This podcast is dedicated to discussing the following: Analysis mindset, Data analysis, Career tips/ Career advice, Analyst career, Business analysis, Financial analysis, Analyst training, Analytics, Industry 4.0/4IR, Business intelligence, AI in business, Financial Reporting, Career development, Data science, IT strategy, Professional development, Analysis for SMMEs, and Data Industry trends