Technology and business are converging at an unprecedented pace. The swift transition into what some call the fifth industrial revolution, almost leapfrogging the fourth, presents us with a remarkable opportunity to fundamentally reimagine our approach to business operations.
In this fifth revolution, the promise is of man and machine living in harmony, with the intention being that software and hardware will co-exist with mankind in a way that improves humanity through the ability to enhance workplace processes, promote sustainability and prioritise human well-being as this era is set to be human-centric. The result should be a more equitable and sustainable world.
However, this requires that all take part and benefit from this shift in the way society functions. Herein lies the importance of education, specifically the impart of skills that have longevity.
It may seem self-evident, yet it bears emphasising again: we are already witnessing the transformative impact of artificial intelligence (AI) integration across business landscapes. Much has been said about how professionals like bookkeepers already leverage intelligent software to automatically process invoices, eliminating tedious and repetitive tasks that once consumed valuable time and resources.
This current application of rapidly-evolving technology aligns with widespread expectations – enhancing productivity, eliminating waste, and consequently, driving profit growth. Yet, this example is only a surface view of what is possible.
Consider the bookkeeper managing accounts as an example. With properly ‘trained’ AI, invoice processing accelerates dramatically. Business intelligence systems then comprehensively analyse this data. The bookkeeper, now elevated to a strategic role, can use sophisticated dashboards to identify inefficiency hotspots across cost centres.
They might discover, for instance, that departmental siloing of stationery purchases – each department ordering their own pens rather than consolidating into bulk orders – significantly inflates operational costs. This insight catalyses new internal processes, such as implementing centralised procurement systems, ultimately trimming unnecessary expenses.
Yet this nascent technology has potential far beyond these operational efficiencies. We stand at the nexus where technology and business truly converge in revolutionary ways.
Technology will increasingly shape how organisations define their future through providing valuable input into strategies. Access to precise, comprehensive information enables critical decision-making – whether to acquire complementary entities for horizontal market expansion, or to develop existing units to capture market share in vertical sectors that represent natural extensions of the business.
When methodically developed and properly implemented, AI systems can accelerate data processing exponentially, enabling business intelligence platforms to distil ‘big data’ into actionable insights. These insights feed directly into the processes of building and continuously refining business strategies. This is the inflection point at which technology becomes truly transformative.
This may sound like an idealised vision – a futuristic, perhaps fantastical, perspective on how technology will reshape our work in ways more tactically consequential than mere paperwork automation. But it isn't. This is becoming a reality across the globe, particularly in developed economies where companies have access to the necessary technological infrastructure.
This doesn't mean South Africa and its youth must be left behind. We stand at a pivotal moment, with a limited window of opportunity to equip our young people with the skills needed not merely to participate in this revolution, but to thrive within it.
This technological evolution demands specific competencies – skills that must be imparted to young people currently in our education system and those that will soon join, preparing them for careers that may not even exist yet.
We already recognise that tomorrow's in-demand skills include cloud computing, retrieval-augmented generation, AI-powered image processing, generative AI, machine learning, cyber security, big data analytics, software development, internet of things applications and robotics, among others.
There is also growing recognition that these technical capabilities must be coupled with robust understanding of – and ability to implement or create – governance and ethics frameworks that mitigate potential technological abuses. Unethical technology deployment isn't a new concern, but its adverse effects will be more profound than ever before.
Equally important are the so-called ‘soft skills’ that will enable our future technologists to maintain meaningful human engagement rather than becoming mechanistic in their thinking and interactions.
These are competencies we already teach with forward-looking perspectives. Continuous curriculum refinement is imperative and must ensure today's learning remains relevant tomorrow.
More critically, these skills must be adaptable – future-fit in ways that enable our youth to rapidly evolve their capabilities through continuous upskilling. As a concept, this approach represents best practice that we are already implementing – as should all educational institutions.
The private sector can, and is, helping us achieve these aims. Stanbic, through its National Schools Championship, invites Ugandan learners to devise a solution to a societal problem and then awards them with a monetary prize. This competition has the result of motivating and inspiring young people to innovate and solve dilemmas. More importantly, it teaches them critical thinking skills.
There’s no reason why such an endeavour cannot be duplicated across Africa, turning our youth into capacitated learners.
We cannot send the next generation of workers and entrepreneurs into the world equipped with knowledge that has an expiration date. Instead, we must empower them with a mindset that enables them to use their certifications as foundational building blocks.
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