Connect with us

Technology

The Third Economy?

Published

on

South African inventor and investor Stafford Masie on the economy that will unfold as a result of bitcoin offering greater capability than cash.

South African technology entrepreneur and artificial intelligence (AI) enthusiast Stafford Masie has headed Google in South Africa, invented Payment Pebble (a payment solution), and has had over 20 years in IT. At a recent lecture to engineering students at the University of Johannesburg, Masie said: “The future is already here. It is just unevenly distributed.” He also spoke to FORBES AFRICA on the tech forecast for 2019.

READ MORE: Under 30 Technology

AI gone rogue

Almost all industries have been impacted by AI and Masie believes it has potential to lose control.

“AI is the difference between the third and fourth industrial revolution. We now have this algorithm in the world that says we should measure companies by output so companies are trying to do more with less. [Companies are thinking] ‘get rid of the humans and let’s build automation and we increase our operating margin and our share price goes up’. That is not sustainable. That’s the world in which we find ourselves today. AI has already gone rogue. There is no expert of AI in the entire world. It’s still very early.”

Masie says should be seen as plural and not singular.

“Take a look at Uber. It’s a coalition of disparate AIs and a dual special awareness of intelligence. It’s intelligence on the phone, it’s intelligence in the car, it’s all of those things coming together to deliver on that service. That’s AIs, not an AI.

“AI does not need to take away jobs. AI is makes us look in the mirror and ask, ‘should we be doing that work?’ I don’t think we should. I think we have a higher purpose. We need to start rethinking this notion of employment and jobs and start thinking about work. Humans should be released from doing what they are doing today. A job that measures efficiency and productivity will ultimately be taken over by robots…We were not meant to do jobs that measure efficiency and productivity. We were meant to be [creative]. We need to allow humans to have a purpose.”

READ MORE: Africa’s Top 30 Tech Start-Ups Opens for Entries

Bitcoin will unlock the third economy

Despite experts predicting the fall of Bitcoin and its technologies, Masie predicts otherwise.

“The Bitcoin world is going to be interesting to watch over the next year. That’s very exciting. I just think because it’s still so infantile, it’s still so small. I think Bitcoin wasn’t built for the people who are actually using it today. It was built for the people not financially included in the world today. And what’s exciting in the next few years is to see those people being unlocked and emerging. We have the formal economy, then we have the informal economy. The formal economy has all the financial instruments that you and I use. The security, the credit cards, the bank accounts etc. Then you get the formal economy which is cash.

“But I think bitcoin is going to establish a third economy, and that third economy will surface new transaction types, new value exchange instruments that we still haven’t imagined today and that will come to the fore.

“What excites me more is this third economy that will emerge because Bitcoin offers greater capability than cash. You can program your money. You can expand it, you can create contracts around it. You can exchange value without a third party and that’s what am very excited to see within the next 12 to 24 months, that’s really big for me.”

The tech smoothie

“I’m excited to see what will happen in retail over the next four months. That’s the big one. I can feel it in the water. All the retailers are looking immensely at investing in technology, better customer service, optimization and then there’s logistics in the supply chains driving down production costs, doing more with the humans that they have, sweating their assets, etc. In retail, when you start mixing up the Internet of Things, AI and Bitcoin, that little smoothie looks very interesting to me.”

Continue Reading
Advertisement
Comments

Technology

How To Cut The Cord: The Top Smart TVs For Streaming 2019

mm

Published

on

By

Freeing yourself from the shackles of cable or satellite television is easier to do than you might think, especially if you have a smart or connected television.

Smart TVs have integrated internet and interactive features that allow users to stream music and videos, browse the Web and view photos. Almost every new high-end television sold within the last two years or so has smart capabilities. So how do you choose?

If you want to take advantage of streaming services like Netflix, Hulu, Amazon Prime and more, then look at these television sets.

LG C9 OLED 65-inch TV
Best smart TVs
On the streaming front, it provides a single place to browse and search for TV shows and movies from apps like Hulu, Amazon Prime Video, ESPN, PlayStation Vue, and more. LG

In addition to a beautiful, detailed picture and a big soundstage, this 4K OLED sports cutting-edge connectivity, including an HDMI 2.1, and a comprehensive feature set including both Google Home and Amazon Alexa built in. It also comes with Home Dashboard, a new tool that turns the set into the central control hub of all your connected home devices—from doorbell cameras to smart thermostats to appliances like a washing machine or a stove.

On the streaming front, it provides a single place to browse and search for TV shows and movies from sites such as Hulu, Amazon Prime Video, ESPN, PlayStation Vue, and more. It also lets users rent, purchase and watch TV shows and movies from Apple’s iTunes store.

Vizio 55-inch M-Series Quantum
Best smart tVs
This Vizio is equipped with updated SmartCast 3.0 software includes support for Apple AirPlay2 and HomeKit, making it just as suitable for iOS users. VIZIO

At under $700, the 55-inch M-Series Quantum offers a serious value in the smart TV arena. Not only does it deliver an excellent picture and sound, but it is also equipped with updated SmartCast 3.0 software, which includes support for Apple AirPlay2 and HomeKit (making it just as suitable for iOS users).

The update also has a more vibrant selection of locally installed apps, including Netflix, Amazon Video, Hulu and Vudu. Thanks to a partnership with PlutoTV, the Vizio also offers a dedicated streaming channel called WatchFree, which gives you a TV-watching experience with more than 100 free channels, including sports, news, cartoons, and movies. You can also pair the set with an Amazon Echo device for voice control with Alexa.

Sony Master Series 65-inch A9F OLED TV
Best Smart TVs
This 65-incher also comes with Google Assistant capability, which lets you search for content, find online information, use online services and even control smart-home devices.SONY

If money is no object and you want a TV with loads of features, an incredible picture and terrific sound, go with the Sony A9G. The A9F is one of the first Sony Android TVs to ship with the newest version of its smart OS. The most notable names in video are preloaded, including Amazon Prime Video, Google Play Movies & TV, Hulu, Netflix, Sling TV,and YouTube. For music, Google Play Music, Pandora, SiriusXM, Spotify, Tidal and a slew of internet radio stations.

This Sony 65-incher also comes with Google Assistant, which lets you search for content, find online information, use online services and even control smart-home devices. 

TCL 43S517 Roku Smart 4K TV
Best smart TVs
The Roku TV interface is uncluttered and easy to navigate, with big square tiles for all your apps and streaming services, including Netflix and Hulu. TCL

Great things can come in packages costing less than $400. Not only will you get a terrific picture, robust sound and a slew of genuinely exciting features, this TCL 43-inch model sports Dolby Vision HDR, Dolby Atmos audio support and integrated Roku voice search.

The Roku TV interface is uncluttered and easy to navigate, with big square tiles for all of your apps and streaming services, including Netflix and Hulu. There are also apps for major broadcasters, major sports leagues, and premium channels such as HBO and Showtime. Of particular interest to cord-cutters will be support for Sling TV, which provides a cable-like experience without the expense of a cable subscription.

Insignia 43-Inch 4K Fire TV Edition
Best Smart TVs
This under $300 43-incher offers most of the apps you’d expect, like Netflix, Hulu, HBO Go and HBO Now, as well as Amazon Prime Video. INSIGNIA

Amazon finally seems to have a Fire TV that can compete with the Roku-powered smart sets. This 4K television with HDR support is packed with features for the Amazon faithful, with Alexa voice interaction built-in, Amazon’s huge selection of Fire TV apps, and a smart TV experience that puts Prime Video centerstage.  

This 43-incher costs less than $300 and offers most of the streaming apps you would expect, such as Netflix, Hulu, HBO Go and HBO Now, as well as Amazon Prime Video. Plus, Fire TV will soon get an official YouTube app packed with services such as YouTube Kids, YouTube Music and (most critical for cord-cutters) YouTube TV.

-Chuck Tannert, Forbes

Continue Reading

Technology

Multi-Disciplinary Education In The 4IR Era

mm

Published

on

There is an adage that states “if you want to know the future of a nation, study the behavior of its teachers”.

The most potent force for political, economic and social progress in society is education. The measure of how great a nation will rise is determined by how many people in its population are educated. The African continent today has a total purchasing power parity gross domestic product (GDP) of $6.7 trillion, and a population of 1.2 billion people.

According to the United Nations Educational, Scientific and Cultural Organization (UNESCO), in 2016, sub-Saharan Africa had a literacy rate of 76% compared to 89% in South and West Asia, 87% in the Arab states and 98% in the developed nations.

This literacy rate in sub-Saharan Africa is far from adequate, and calls for urgent and practical action to improve it.

READ MORE | Amid Trade Wars, What Africa Must Do

We are living in an era characterized by the fourth industrial revolution (4IR) where technologies such as artificial intelligence (AI) and blockchain are changing all aspects of our lives. Factories are automating. Because of these changes, the nature of work is changing.

Many jobs are disappearing altogether, and new types of jobs are being created. For example, we now have jobs that did not exist 20 years ago, such as Data Scientists. AI is now able to diagnose severe diseases such as pulmonary embolism, epilepsy and leukemia complementing the work of medical professionals. Because of the rapid automation in the medical field, doctors today require an in-depth knowledge of technology.

These changes in society because of 4IR require new sets of skills. Are our education systems ready to capacitate our people with the requisite skills to tackle the problems of 4IR?  Do we have enough teachers at all levels of our educational systems to be able to give our people skills that will make them useful in the 4IR era? Do we have enough educational institutions to be able to skill our people? Unfortunately, the answers to these two questions are in the negative.

READ MORE | Data Is The New Gold

Given that we do not have enough teachers nor educational institutions to provide a critical mass of our people the requisite capabilities that will help them survive in the 4IR, what is to be done? One way of tackling this problem is to take a lesson from the first Indian Prime Minister, Jawaharlal Nehru, who realized that for India to thrive in the 20th century, it needed to invest in elite technical education. In this regard, he introduced the Indian Institutes of Technology (IIT).

Nehru had this to say in 1956 at the first convocation address of the first IIT in Kharagpur, a city in West Bengal: “…Here in the place of that Hijli Detention Camp stands the fine monument of India, representing India’s urges, India’s future in the making. This picture seems to me symbolical of the changes that are coming to India.”

It is vital that African countries create a few elite institutions that will drive the African continent into the 4IR. The Pan-African University supported by the African Union is a good start, but we can do more.

Additionally, these elite institutes should not be limited to higher education only but must also focus on primary and secondary education. One example in Johannesburg is the African Leadership Academy (ALA), which targets gifted 16-to-19-year-olds. Today, the ALA has alumni from 46 different countries making an impact on the political, economic, and social aspects of the African continent.

READ MORE | The 4IR Strategy To Move Forward

For us to thrive in the 4IR era also requires our educational experience to be multi-disciplinary. In our limited institutions of higher learning, students enrolled for programs in the human and social sciences must also study technological subjects.

Those enrolled in technological programs must study human and social subjects. Technological subjects should focus on the issues that confront the African continent, such as affordable and appropriate technology, limited and incomplete data, and cost-effective manufacturing.

The human and social subjects should focus on the urgent issues facing Africa today, such as social cohesion, connectivity, stability, conflict and unity. Due to the limitations of physical infrastructure and good teachers, African countries should pull their resources together and invest in online platforms to facilitate education through modern techniques such as blended and augmented learning.

The outcome of the education system, whether at primary, secondary, or tertiary levels, should be logical, numeracy and verbal skills. These skills will give our people the capacity to tackle the challenges of the 4IR such as coding, problem-solving, critical thinking, creativity and decision-making. 

– Tshilidzi Marwala is a professor, Vice-Chancellor and Principal of the University of Johannesburg. He deputizes President Cyril Ramaphosa on the South African Presidential Commission on the Fourth Industrial Revolution.

Continue Reading

Technology

Creators Rather Than Consumers

mm

Published

on

By

More entrepreneurs are committing to closing the skills gap in Africa’s future job market.


In 2015, an image of a young man, Tankiso Motaung, at a street corner in the middle of Sandton, Johannesburg, holding up a placard, went viral. On the sign were the words, “I have a BTech in electrical engineering. Please help. I need a job,” along with his contact number.

The following year, an image circulated on social media of Anthea Malwandle, a young chemical engineering graduate, standing by the traffic lights, similarly, begging for a job.

What is the future of work in a digitally-led world? Is it this dismal?

The World Economic Forum’s (WEF) 2018 Future Of Jobs Report, reveals nearly 50% of companies expect digitization will lead to a reduction in their full-time workforce. It further estimates that by 2022, 75 million jobs globally would taper off as a consequence of digital business transformation. 

READ MORE | South Africa’s Informal Sector: Why People Get Stuck In Precarious Jobs

South Africa’s unemployment rate is already high. Motaung and Malwandle represent more than 50% of our youth that are unemployed. And according to Statistics South Africa, one out of three graduates will, likewise, enter the job market without any economic prospects.

But Nedbank economist, Isaac Matshego, is full of optimism. He is of the opinion that the initial job losses will be temporary.

“As humans get better acquainted and familiar with the new way of doing things and incorporating the new economic methods of production, we often see a net benefit to humanity overall,” he says.

More so, Matshego advocates that at the beginning, digitization actually requires human skills and so does the maintenance of the technology.

“That means we have to train our information technology staff,” he elaborates.

READ MORE | 4 Ways To Develop Employment-Ready Graduates

The good news is that digital and other tech innovations will directly and indirectly produce new sources of work. The WEF report further suggests that 133 million new jobs may be created by 2022, thanks to industry 4.0.

But, for these opportunities to scale to the extent needed to address South Africa’s current employment crisis, there needs to be a strong supply of quality skills – spanning foundational skills like basic numeracy and literacy, through to advanced tech skills, according to Mark Schoeman, a manager of youth and technology at economic consulting firm Genesis Analytics.

“The first hurdle South Africa has to overcome is closing the skills gap in the short-term. There are an insufficient number of graduates with key skills in STEM being produced by educational pathways, and a qualification-job mismatch which sees graduates taking up work that does not reflect their qualification,” he says. Schoeman asserts this gap is an impediment to the country’s ability to realize new economic opportunities brought forth by technology.

READ MORE | OPINION | Technology Is Useful, But Drones Alone Won’t Save Africa’s Elephants

Government and private interventions have been made to ensure young people are training and learning critical skills to thrive in the changing world of work.

Heeding this call is WeThinkCode, one of the organizations fixated on future-proofing the youth. A non-profit, new-age technology school, WeThinkCode, led by Managing Director, Nyaradzai Samushanga, seeks to eradicate unemployment in the ‘tech’ economy by providing youth with skills sought after in the new world of work.

Headquartered in Johannesburg, the tuition-free school was founded in 2016 by three South Africans: Arlene Mulder, Yossi Hasson, Justinus Adriaanse and French citizen, Camille Agon. The institution enrols 430 students aged 17 – 35 years who are taught technical skills in software development including programming, graphics and algorithms.

“We do not measure success when students graduate. We measure success as placement at employment,” says Samushanga.

“All our graduates have been placed into permanent employment with a minimum entry-level salary of R20,000 ($1,408) per month… It is taking someone who could’ve fallen in between the cracks, and now they are a highly-skilled worker,” says Samushanga.

READ MORE | 5 Ways Tech Can Revolutionize Education

More entrepreneurs are committing to the cause of closing the skills gap in Africa’s job market. Audrey Patricia Cheng, 25, the co-founder and CEO of Moringa School in Nairobi, Kenya, says: “We realized there was a massive gap in terms of access and also quality education. And we are seeing a massive rise in the number of jobs around technical skills because many companies are moving to the digital space.”

Since its inception in 2015, Moringa School has since trained close to 2,000 students with the necessary digital skills. Cheng is confident the continent is moving to a future where Africans would be creators of technology rather than just consumers.

Continue Reading

Trending