India, China and South Africa may face “social upheavals and income inequality”

Vastavam web: India, South Africa and China may face “social upheavals and increased income inequality” in the future due to increasing adoption of emerging technologies like artificial intelligence, says a report.According to the research report by Deloitte Global, while executives conceptually understand the changes the fourth industrial revolution (Industry 4.0) will bring, they are less certain how they should act to benefit from those changes.”Three countries in particular — India (32 per cent), South Africa (28 per cent) and China (23 per cent) — envision social upheavals and increased income inequality as a result of Industry 4.0,” the report noted.

One-fifth of respondents think they will face social upheavals and increased income inequality, while North American and Latin American executives are the least concerned (8 per cent and 6 per cent respectively), it noted.The survey noted that only 8 per cent of APAC executives see themselves as highly capable to act as ‘stewards’ during this time of change and disruption.”The rapidly advancing technologies driving Industry 4.0 are bringing about social and economic change rapidly in an environment of unparalleled global connectivity and demographic change,” said Punit Renjen, Deloitte Global CEO adding, “It’s a time of great opportunity, but also risk”.”I believe those who take a broad view will be the ones to succeed in this new era,” noted Renjen.