Opportunities in emerging technologies for Southern Africa: How the Global South should adopt to take advantage?

Abstract

AbstractThe manufacturing sector, energy sector, and mobility businesses can all benefit from the use of emerging technology. A crucial part of modernizing industries is utilizing emerging technologies. This research aimed to examine how the Global South can adopt and maximize emerging technology opportunities. The research was qualitative in nature, and the focus was on economies in the Global South. Random sampling to select 40 economies from the four continents that fall under the Global South which were Africa, Asia and the Pacific, the Arab Region, Latin America, and the Caribbean. Research articles on the subject matter were collected from Google Scholar and other online repositories. Document analysis was used under the data analysis section. This research aimed to examine how the Global South can adopt and maximize emerging technology opportunities. The research findings described challenges, such as poor technological policies, high prices, and taxation, a lack of financial resources, a lack of information and communication technology (ICT) infrastructure and limited experts, digital illiteracy, and how illicit financial flows adversely affect the Global South's ability to tap into emerging technologies. In terms of policy recommendations, it was suggested that the Global South needs to design and implement robust ICT policies, mobilize financial resources, and invest in research and development. These policies must be implemented in the primary, secondary, and tertiary sectors to ensure meaningful benefits of using emerging technologies.