by Tech Talk | Mar 6, 2023 | Articles
By: Monde Mawasha
The actions of present generations potentially have an enormous impact on those who will live in the future. One of the main obligations of a generation, therefore, is to leave the next generation with a stronger, healthier economy, as such, that it does not plunder from them by consuming resources at an unsustainable rate.
China and the Asian Tigers are a perfect example of the then-developing nations that drove economic and social development through an economic policy of increasing efficiency gains due to capital accumulation. The Four Asian Tigers (also known as the Four Asian Dragons or Four Little Dragons in Chinese and Korean) are the developed East Asian economies of Hong Kong, Singapore, South Korea, and Taiwan. Between the early 1950s and 1990s, they underwent rapid industrialisation and maintained exceptionally high growth rates of more than 7 percent per annum.
As a developing country, South Africa (SA) can draw great lessons from China and the Asian Tigers experience and success and identify ways to achieve a sustained trajectory of economic growth – growth that is inclusive and built on poverty reduction and shared prosperity. The greatest threat to political stability and social cohesion in SA is now economic growth.
Globalisation has been a major political economy concern for all nations since it is so pervasive and needs to be a pillar of any governments economic policy. It is true that the rise in the 21st century of the tech giants has weakened the ability of governments to use globalisation policy as a tool for economic growth through its waning leverage. It is, however, inaccurate to now abandon it as an economic policy lever. The semiconductor sector policy that the Biden administration is waging is a good example. Thus, the Neoliberal theory concept (Neoliberalism is a model of free market capitalism that favours greatly reduced government spending, deregulation, globalisation, free trade, and privatization) of globalisation has significant weaknesses.
SA, therefore, must consider two polar binaries to ensure proper management of the national economy. First, there is the debate between accumulation theorists, who primarily support the neoliberal globalisation idea, and innovation theorists, who contend that learning and invention are essential to progress in the tradition of Schumpeter. Closely related to this, is the debate between the “codified knowledge” camp, which supports the unique information at the company level that is by definition not driven by global supply chain constraints imposed by a small number of huge global corporations, and the “tacit knowledge” camp.
SA’s economic growth policy should focus on specialists’ knowledge that adds value in the global value chain and invest in technologies such as robotics and Artificial Intelligence (AI) to create innovation at the level of the firm (Tacit Knowledge).
Tacit Knowledge comprises, wealth-creating knowledge which includes practical skills established through learning by doing, as well as competencies acquired through formal education and training, and it includes management skills learnt in practice as well as new insights produced by research and development (R&D) efforts. Tacit Knowledge is almost by definition the foundational Political Economy consideration for the future of the country’s economy.
The creation of tacit knowledge is the decisive prerequisite for successful economic development. A weak tacit knowledge base constitutes a major barrier to South African economic growth, climate change initiatives and generally South Africa having distinct economic brand.
By adopting a tacit knowledge-based policy, SA will be able to “catch up” with developed economies and very importantly enable a job-creating economy with huge multiplier effect potential. Tacit Knowledge Policy will work well with the South African Reserve Bank mandate of inflation-targeting. This will ensure that monetary policy and fiscal policy are properly targeted.
It is important to emphasise that learning takes place in all parts of the economy, including in so-called low-tech and traditional sectors. Indeed, learning in traditional and low-tech sectors may be more important for economic development than learning in a small number of insulated high-tech firms. The learning potential (technological opportunities) may differ between sectors and technologies, but in most broadly defined sectors, there will be niches where the potential for learning is high.
Finally, all kinds of workers have skills and learning capacity, including those misleadingly called, “unskilled workers”. In fact, according to a 2022 projection from The New York Academy of Sciences, sub-Saharan Africa will require 2.5 million extra engineers just to meet its development issues.
One of Coega’s premier Corporate Social Investment (CSI) programmes, the Coega Maths and Science Programme (MSP) was established in 2013 with the goal of empowering matriculants by giving them the chance to improve their Grade 12 Mathematics and Physical Science exam results. This Programme is a living and breathing example of the adage that South Africa has talent. This talent just needs to be encouraged and harnessed. The MSP’s results have shown improvements in Maths and Science results of the learners by factors of 3 and sometimes even more. Learners who attained 20%, 30%, 40% in Maths and Science exams, within a year improved their marks to 70%, 80%, 90%. These are remarkable numbers and are indicative to the kinds of interventions that can make a real difference in Science, Technology, Engineering and Mathematics (STEM) skills in SA.
Who and how can this scale up to be a primary rather than a secondary intervention? Artificial Intelligence (AI), Cloud Content and Telecommunication are a potential solution to scale the results that the MSP attains. STEM subjects lend themselves to online content creation. Indeed, there is tons of STEM content. This resource needs harvesting.
Coega has collaborated with the KwaZulu-Natal Department of Education to provide STEM content and the devices to access that content. Ethical AI has the capability of being a tutor for learners. AI, through its deployment to understand the learning styles of students and thus algorithms that exist, can guide educators on the best way of presenting and learning the curriculum by considering students’ unique qualities. This insight that AI provides can be made available to teachers and parents. One of the best ways to get a learner to succeed is confidence. AI will be the tutor to build the confidence of the learner, thus creating a virtuous cycle.
Therefore, for South Africa to build the economy of the country, it will need to create a policy framework to enable South Africa to be a Tacit Knowledge economy. Sooner rather than later, South Africa must create data repository of education for the upcoming generation. The prosperity and stability of the country demands that it does so with speed and urgency.
As an adage, the beauty of Artificial Intelligence, is that it is not intelligent enough. So, what it does is, mimic the Intelligent Agent (i.e., the learner).
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by Tech Talk | Mar 6, 2023 | Articles
Tencent Holdings founder Pony Ma and others from China’s crackdown-hit Internet sector will be absent from this year’s parliamentary sessions, as Beijing boosts representation from the tech hardware sector, delegate lists show.
Nearly 3 000 members of the National People’s Congress (NPC) will gather in Beijing on Sunday for its first meeting since Xi Jinping secured a norm-breaking third leadership term at a congress of the ruling Communist Party last October.
The makeup of the nation’s top legislative body, mostly local government officials but also representatives from other sectors, signals who lies in Beijing’s good graces, although the ultimate barometer of power remains the ruling Communist Party’s 205-member central committee.
This year, a new crop of representatives from the tech hardware sector appeared on delegate name lists for the first time, a sign of Beijing’s changing priorities as it looks to bolster its capabilities as Washington cuts off access to cutting-edge technology.
Pony Ma is absent from this year’s list after previously serving two five-year terms. The CEO of China’s most valuable company has kept a low profile in recent years while rival tech entrepreneurs were targeted by a wide-ranging state crackdown on Internet firms and as Xi urged greater scrutiny of the ultra-wealthy.
Tencent did not provide an immediate comment.
Other former darlings of China’s Internet scene including Alibaba’s Jack Ma, NetEase founder William Lei Ding and Wang Xiaochuan, founder of search engine Sogou, were also absent from the delegate list of the Chinese People’s Political Consultative Conference (CPPCC) after previous inclusion.
However, lower-profile executives from Alibaba and e-commerce giant JD Group are delegates to the CPPCC, a largely ceremonial political advisory body that meets around the same time as the NPC.
Newcomers to the events include representatives from chip firms Semiconductor Manufacturing International Corporation, state-backed Hua Hong Semiconductor, Shandong Youyan Semiconductor Materials in the NPC and Cambricon Techologies in the CPPCC.
Other new NPC delegates come from robotics, laser, aerospace and aeronautics firms.
“The new line-up of the two sessions seems to reveal Beijing’s clear priority to strengthen its technological capacity to achieve self-sufficiency and stay competitive with the US,” said Angela Zhang, director of the Centre for Chinese Law at the University of Hong Kong.
“In the current geopolitical climate, consumer tech businesses are eclipsed by those companies that produce hardcore technologies,” she said.
Delegates for the NPC and CPPCC are chosen every five years by the Communist Party and have the option to resign.
Some veteran tech industry delegates will continue to serve under new five-year terms on the CPPCC including Lei Jun, founder of phone manufacturer Xiaomi, and Zhou Hongyi, CEO of cybersecurity firm Qihoo360.
Liu Qingfeng, head of US-sanctioned artificial intelligence firm iFlyTek, was also selected for another NPC term.
In a speech last month, Xi called for scientific and technological self-reliance, amid growing export curbs on advanced technology, mainly from the US.
Some celebrity CPPCC delegates did not reappear on this year’s list, such as Hong Kong action star Jackie Chan, film director Feng Xiaogang and state television anchor Bai Yansong. Yao Ming, a retired basketball star who heads the Chinese Basketball Association, has moved from the CPPCC to the NPC. — Reuters
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by Tech Talk | Mar 6, 2023 | Articles
Apple partner Foxconn Technology Group plans to invest about US$700-million (R12.7-billion) on a new plant in India to ramp up local production, people familiar with the matter said, underscoring an accelerating shift of manufacturing away from China as Washington-Beijing tensions grow.
The Taiwanese company, also known for its flagship unit Hon Hai Precision Industry, plans to build the plant to make iPhone parts on a 300-acre site close to the airport in Bengaluru, the capital of the southern Indian state of Karnataka, according to the people, who asked not to be named as the information is not public. The factory may also assemble Apple’s handsets, some of the people said, and Foxconn may also use the site to produce some parts for its nascent electric vehicle business.
The investment is one of Foxconn’s biggest single outlays to date in India and underscores how China’s at risk of losing its status as the world’s largest producer of consumer electronics. Apple and other US brands are leaning on their Chinese-based suppliers to explore alternative locations such as India and Vietnam. It’s a rethink of the global supply chain that’s accelerated during the pandemic and the war in Ukraine and could reshape the way global electronics are made.
The new production site in India is expected to create about 100 000 jobs, the people said. The company’s sprawling iPhone assembly complex in the Chinese city of Zhengzhou employs some 200 000 at the moment, although that number surges during peak production season.
Output at the Zhengzhou plant plunged ahead of the year-end holidays due to Covid-related disruptions, spurring Apple to re-examine its China-reliant supply chain. Foxconn’s decision is the latest move that suggests suppliers may move capacity out of China far faster than expected.
The plans could still change as Foxconn is in the process of finalising investment and project details, the people said. It’s also unclear if the plant represents new capacity, or production that Foxconn is shifting from other sites such as its Chinese facilities.
Apple declined to comment. Hon Hai, whose chairman Young Liu met India’s Prime Minister Narendra Modi this week, did not immediately respond to an e-mail seeking comment. The Karnataka state government also did not immediately respond. Liu, who is on tour in India, has committed to another manufacturing project in the neighbouring Telangana state.
Foxconn’s decision would be a coup for Modi’s government, which sees an opportunity to close India’s tech gap with China as Western investors and corporations sour on Beijing’s crackdowns on the private sector.
India has offered financial incentives to Apple suppliers such as Foxconn, which began making the latest generation of iPhones at a site in Tamil Nadu last year. Smaller rivals Wistron and Pegatron have also ramped up in India, while suppliers such as Jabil have begun making components for AirPods locally. – Bloomberg
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by Tech Talk | Mar 2, 2023 | Articles
While WhatsApp may differ in certain aspects from other social media platforms like Facebook, Twitter, or Instagram, the cross-platform has more than 2-billion monthly active users worldwide and ranks high among social media users.
According to data presented by SportsLens.com, WhatsApp is the favourite platform among social media users, ahead of Facebook, Instagram, and TikTok.
The social media landscape is highly competitive and constantly changing. Platforms that can keep users engaged for longer periods, provide targeted and effective advertising solutions for businesses, and strike a balance between collecting data and protecting users’ privacy are likely to be more successful in the long run.
WhatsApp ranks high in this dynamic market. With over 420-million downloads worldwide, WhatsApp was the third most-downloaded app in 2022. And while Facebook and YouTube may lead by the number of monthly active users, for most social media users, WhatsApp is the number one platform.
According to Digital 2023 Global Overview Report, almost 16% of social media users aged between 16 and 64 named WhatsApp as their favorite choice. Instagram ranked as the second most popular platform with a 14.3% share among respondents, just 0.1% more than the world’s largest social media platform Facebook.
Statistics show WeChat ranked on high fourth place with a 12,1% share, almost double that of TikTok. Twitter and Facebook Messenger were in the middle of the list with 3,4% and 2,6% shares, respectively. The survey also showed LinkedIn was the least popular among social media users, with only 0.9% of respondents naming the platform their favorite choice.
Although WhatsApp is the favorite social media platform for many social media users, the average time spent using the app has dropped in 2022.
The Digital 2023 Global Overview Report showed last year, Android users worldwide spent an average of 17 hours and 20 minutes using WhatsApp per month, or 6,7% less than in 2021. In fact, WhatsApp was the only app besides Line whose monthly usage time decreased.
TikTok remained an absolute king in this category, with an average of 23 hours and 28 minutes spent using the app in one month, almost 20% more than a year before. Facebook followed, with just as impressive 19 hours and 43 minutes. Instagram ranked behind WhatsApp with an average of 12 hours per month.
However, statistics show that Telegram saw the biggest year-over-year growth. Last year, Android users spent almost four hours using the app per month, or 33% more than in 2021.
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by Tech Talk | Mar 2, 2023 | Articles
MTN has issued a trading statement for the year ended 31 December 2022, alerting shareholders to substantial changes from the previous year.
The group expects to report an increase in earnings per share (EPS) of between 35% and 45% (or 267 cents to 343 cents).
The EPS for the corresponding financial year ended 31 December 2021 (FY 21) includes a loss on deconsolidation of subsidiary of -262 cents, as well as fair value gains on acquisition or disposal totalling 99 cents; both of which were nil for FY 22.
Considering the EPS of 763 cents for FY 21, this translates to a range of 1 030 cents to 1 106 cents for FY 22.
EPS includes impairment losses that mainly relate to investments, goodwill and property, plant and equipment totalling approximately -44 cents (2021: -64 cents); an impairment loss on remeasurement of disposal groups of -70 cents (2021: -2 cents); a net gain on the disposal of South African towers of 22 cents (2021: 0 cents) and the net profit on disposal of property, plant and equipment and intangible assets of 9 cents (2021: 5 cents).
MTN is also expecting to report an increase in headline earnings per share (HEPS) of between 12% and 22% (or 118 cents to 217 cents).
Considering the HEPS of 987 cents for the corresponding FY 21, this translates to a range of 1 105 cents to 1 204 cents for FY 22.
HEPS was negatively impacted by some non-operational and once-off items of approximately -159 cents (2021: -123 cents) for FY 22. These include hyperinflation adjustments (125 cents), foreign exchange losses (-181 cents), an IFRS 2 charge arising from the MTN Ghana localisation transaction (-4 cents), divestments (-24 cents), remeasurement of deferred tax asset (-65 cents) and other non-operational items (-10 cents).
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by Tech Talk | Mar 2, 2023 | Articles
Cisco has signed a memorandum of understanding (MoU) with the Department of Women, Youth, and Persons with Disabilities (DWYPD) outlining key areas of cooperation for the development of skilled South Africans to participate in the digital economy.
Francine Katsoudas, executive vice-president and chief people, policy and purpose officer at Cisco, explains: “Inclusion isn’t just something we do – it’s part of who we are. Fulfilling our purpose to ‘Power an Inclusive Future for All’ means reimagining how we come together and how we respect each other’s identities and the roles we play both inside and outside of work. It means tearing down barriers to equity, collaboration, and connection – both in the many places we work and in the wider world.
“Cisco’s Networking Academy, in its 25th year, is making significant progress towards the meaningful inclusion and upliftment of women in the technology industry. In South Africa, 61% of the current intake of 82 219 students are female. This dedication to inclusivity also translates to instructors, where 574 out of a total of 1 127 instructors are female (51%).”
Building on the success of Cisco Networking Academy, Cisco intends to strengthen its collaboration with the DWYPD as an implementation partner to strengthen uptake of the Networking Academy offerings through its partners.
“The partnership with Cisco enables us to tackle the persistent challenge of unemployment, and youth unemployment in particular, in South Africa by bringing education and career connections to people who have historically been underserved and underrepresented in technology fields, including women, racial minorities, persons with disabilities, and rural populations,” says Advocate Mikateko Maluleke, director-general of the Department of Women, Youth and Persons with Disabilities.
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