The 2016 World Economic Forum, which closed last week in Davos, Switzerland, introduced an oncoming global trend, termed as Fourth Industrial Revolution.

The period is expected to see a transition from the current digital technologies era into the industrial revolution which experts have said will influence production, consumption and interactions, significantly impacting economies.

The forum’s theme, "Mastering the Fourth Industrial Revolution,” sought to look into the world’s preparedness for the anticipated era as well as potential impacts.

In multiple panelist sessions, heads of state and government and organisations as well as other world leaders dissected the topic highlighting ways nations will be affected and what changes to expect.

What is Fourth Industrial Revolution?

In his book, "The Fourth Industrial Revolution,” Prof. Klaus Schwab, founder and executive chair of the World Economic Forum, defines the era as one to be characterised by intelligent robots, 3D printing, artificial intelligence, self-driving cars, neuro-technological brain enhancements, genetic editing, among other disruptive changes.

Schwab explains that previous industrial revolutions have seen mankind move from dependence on animal power to digital technology, enabling mass production.

The anticipated era, however, will see a range of new technologies that will combine the physical, digital and biological aspects, impacting all disciplines, economies and industries, according to the book.

Impact on Rwanda

Just like the digital technology era has had massive impact across several sectors in the country, experts say that the forthcoming era is likely to shape socio-economic development of Rwanda.

The Minister for Youth and ICT, Jean Philbert Nsengimana, who participated in the global forum, told The New Times that the era will not only see development of ICT domain but all sectors in the country.

He said the Smart Rwanda master plan, adopted by Cabinet in October last year, had foreseen and factored in the impacts of the coming era.

The master plan, which is now under implementation, has three key focus areas; business and innovation, national economic digital transformation to facilitate other sectors adopt ICT and future planning focusing on research and development.

The research and development aspect specifically focuses on ‘disruptive’ technology that will characterise the fourth industrial revolution.

Among the aspects listed in the master plan that feature in the industrial revolution include, cyber security, big data analytics, 3D printing, Internet of things and creative economies.

The minister said Rwanda had already anticipated the era and began making investments in infrastructure, technical and human capacities in readiness.

"For instance, the Kigali Innovation City project which is already in implementation is a future oriented investment whose impact will go beyond the initial five-year implementation period,” Nsengimana said.

The minister, however, noted that even in the transition into the new era and adoption of future trends, Rwanda and Africa in general will also exhaust the possibilities the current digital technologies phase present.

This, he said, would be to fill the deficit for productivity and to catch up with the pace of technology.

He dispelled fears that the era would have negative impacts to the country’s socio-economic development, urging Rwandans to have the right mindset.

"Every new revolution has its pros and cons; however, prior planning will enable us harness the positive side to it and mitigate risks and any adverse effects,” the minister added.

Among the pros, Nsengimana said, would be the emergence of new opportunities brought forth by facets such as cyber security.

The fear of the new era is not solely prone to Rwanda. At WEF last week, participants expressed concern that the disruptive nature of technology could likely render certain skills in the global economy irrelevant, leaving millions jobless.

Nsengimana said Rwanda and the entire continent would be cushioned from negative effects by going beyond consumption of technology as has been the trend to production.

He said adjustments would be made in education and skills enhancement to ensure that Rwandans were ready for the transition.

The expected leap frog to a new era was also, in part, catered for by the Smart Africa Manifesto, which seeks to put ICT and technology at the centre of socio-economic development of nations, the minister added.

Stakeholders in the ICT sector and other sectors of the economy say that Rwanda has already laid foundation for the new era through investments in infrastructure, regulation and an enabling environment.

Patrick Nsenga, an entrepreneur specialising in cashless payments systems, said the investments done in infrastructure roll out across the country, creation of an enabling an environment and regulation would ease the transition of the country into the new era.

Nsenga added that the new era would improve productivity, efficiency in the provision of services as well as create a bigger market across the continent.

"Rather than take away jobs, the anticipated era will improve the quality of jobs, skills and improve productivity,” he said.

At the World Economic Forum, President Paul Kagame said rather than being afraid of the future, concern should be on how to make the most of technology to solve challenges and improve productivity.

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Understanding the concept of Fourth Industrial Revolution

With the change of circumstances, institutions must advance also to keep pace with the times. The World Economic Forum calls these changing times the Fourth Industrial Revolution – recognition that an era of disruptive transformation beckons, one where the business models of each industry will be transformed and new technologies will enable almost anyone to invent new products quickly and cheaply. Nanotechnology, artificial intelligence, 3D printing, genetic technologies: we’re on the cusp of being able to do things never before thought possible.

editorial@newtimes.co.rw