Impact of AI on SA Economy
Accenture has partnered with the Gordon Institute of Business Science (GIBS) to provide insight into digital technologies impact and the future of business. Review their full report here
Some of the key issues they raise into the AI debate are:
- The ability to adapt and change rapidly in response to AI requires a high degree of organisational agility.
- Companies willing to disrupt themselves to meet emerging capabilities such as AI and machine learning head on— those serious about incorporating AI as an integral part of its business strategy—will experience increased competitiveness and be better prepared for rapid future change.
- South Africa is facing myriad structural and cultural hurdles as well as social dilemmas, which may hamper or delay businesses and governments from fully integrating AI technologies into the economy, ultimately impacting the potential upside to growth and competitiveness that AI presents.
- Transforming the relationship between humans and machines; reimagining business models and processes; creating a thriving ecosystem and unlocking trapped value of data are key ingredients for future success.
- They also made reference to the Impact of AI on SA Economy and the real gross value add by 2035 %growth that could be achieved with AI.
South African companies will also need to emphasise education and training, especially for people who are disproportionately affected in employment and income; advocate for and develop a code of ethics for AI; create adaptive, self-improving regulation to keep pace with technological change; and integrate human intelligence with machine intelligence by reconstructing work to take advantage of the respective strengths of each.
Implemented responsibly, people will use AI to amplify human existence and improve how we live and work.
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