Tag: disruptive technology

Is the global economy headed into a recession? South Africa's economy has been flirting with a contracting state for several years. Numerous signs point to more countries landing in the same situation, even lapsing into persistent negative growth.

While the rise of artificial intelligence (AI) was already underway, COVID-19 dramatically accelerated its use and adoption in workplaces globally. Whether AI proves to be a tool for human learning and advancement, promoting broader economic access and inclusion, or a technology that replaces and excludes them is up to us.

In the post-pandemic world, digital transformation is not just a competitive differentiator and more of a necessity. However, digital transformation is not just about implementing innovative tools and technology – the workforce itself needs to adapt to a new way of working.

Insurance is a mature and historically stable industry, operating on established, reliable business strategies and methods. However, when digital technology really began to take hold with consumers, it upended traditional insurance models.

5G is fast. Really, really fast. Its millimetre wave spectrum can achieve up to 2 gigs a second. That is gee-whizz fast. Most of us have also figured out that it probably won’t be weaponised like the seizure-inducing McGuffin that acted as the plot device for the latest iteration of Charlie’s Angels.

Technology is fundamentally changing our relationship with money. Fact. What we do for entertainment, how we get from point A to point B and even the most mundane routines such as grocery shopping are exponentially changing, on a daily basis. We are also seeing substantial changes in our relationship with money, specifically in the way we manage our money.

As the Fourth Industrial Revolution rages on, there needs to be a greater shift towards adopting an interconnected way of thinking if humans are to truly engage and optimise 4IR and beyond.

The draft Conduct of Financial Institutions Bill was recently published. Once enacted, the CoFI Bill may become one of the first pieces of legislation that explicitly seeks to develop fintech regulation in South Africa.