The Fourth Industrial Revolution (4IR) in the South African Private Sector: The Initiative is Right, but the Timing is wrong

Abstract

The era of life-long employment is probably coming to an end for many people in South Africa due to technological developments. This will affect the population which keeps on growing. The 4IR will affect the employed citizens through loss of jobs. The first, second, and third revolutions cut jobs and created new jobs and new industries, especially in developed countries. The Fourth Industrial Revolution reduces jobs due to the introduction of technological facilities in the work environment. Naturally, revolutions are disruptive, as the 4IR holds all the powers to create whole new industries or sectors while completely destroying others. In destroying other sectors, people are being retrenched because their services are no longer necessarily required. Individuals will always need emotional and personified interactions with other humans, which robots can never replace. Technology may be ready, but that does not mean all South African individuals are ready for such developments. This paper aims to highlight the impact of the 4IR in the private sector and its effect on unemployment and retrenchment in South Africa. The paper is purely theoretical, as it relied heavily on secondary data such as articles, books, and newspapers. Nevertheless, proposed recommendations were guided by the findings of the study.