Africa Oil and Power CEO, Guillaume Doane, has advised the energy sector to welcome the 4th Industrial Revolution with cautious optimism.
The 4th Industrial Revolution is currently introducing technologies and trends such as robotics, virtual reality, and artificial intelligence.
Doane was speaking after the conclusion of the annual Africa Oil and Power conference and exhibition in Cape Town this week.
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He says while the 4th Industrial Revolution creates technological efficiencies, it could have a negative impact on job opportunities…
“We need to be cognisant of the 4IR, which has been extremely successful in increasing competitiveness and efficiencies for energy companies, but we also need to be cognisant of the fact that all of those benefits could impact job creation. Are we impacting employment negatively by introducing some of these efficiencies through new technologies? So we have to be mindful that AR and those technologies have an impact on job growth.”
Doane says the country’s economy would benefit from increased investments in the energy sector.
This week concluded the fourth annual Africa Oil and Power conference and exhibition.
Mineral Resources and Energy Minister, Gwede Mantashe, has highlighted the importance of developing a thriving energy sector in South Africa as a means of encouraging economic growth.
Doane explains, “I think SA’s economy would benefit from a significant increase in investment in power generating capacity. The IRDP calls for an additional 27 gigawatts between now and the year 2050. That is going to require a lot of power produce agreements, a lot of public-private partnerships, to make it possible. It is a very diverse energy mix that accounts for the coal-cased power plants that we see and the natural gas and renewables.”
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