As emerging technologies change the way organisations shape their offerings and service new markets, there is a need to examine how industry 4.0 can be demystified and what it means for Africa’s future.
Organisations are starting to rethink industrial architectures and how to optimally harness technology choices; however, there is a need to make it easier for companies to understand the scope of industry 4.0, and the roles they will play.
“The [emerging technologies] are the muses of innovation and inspiration and the keys to unlocking the potential of business in Africa. It is time to build economic models that change industries and reshape the way we live, work and play,” says Nokia Bell Labs Middle East and Africa and Asia Pacific and Japan strategy and new markets consulting senior partner Fuad Siddiqui.
The telecommunications industry will need to renew its business model, develop an ecosystem of new partners and customers and “unleash the full potential” of next-generation technologies, as the continent evaluates what industry 4.0 means for its citizens and businesses.
“There is enormous potential, especially with regard to automation and how it can redefine productivity, but we need governments to be swift and to create incentive structures that encourage investment and innovation,” he says.
Further, fifth-generation (5G) technology is unlocking the potential for service providers to branch out and invest into new markets, including industrials, verticals and enterprises.
“There is so much more that the telecommunications industry can do, especially with 5G and emerging technologies,” says Siddiqui, adding, however, that the new drivers around performance, reliability and trust will dictate new stringent service requirements and new market models will also be needed to achieve economic growth.
Telecommunications firms investing in 5G networks should seek to diversify beyond consumers and proactively engage with the industrial sector, which will ultimately bolster Africa’s economic productivity and prosperity.
“[There is a need] to understand how emerging technologies will change commercial models, assess new investment potential and what it can do across sectors to uplift Africa’s macroeconomic status.
“Now is the time to prepare a cohesive plan and sign up industrials and verticals,” concludes Siddiqui.