Many may try to deny it, but automation is a real menace to employment in developing nations. Africa, for one, has over 11 million young people entering the job market yearly. If this continent doesn’t carefully plan their policies, its expected demographic windfall can turn into a ticking time bomb.
With the reducing price of automation amounting to manufacturing wages and as worldwide industrial production turns out to be less labor-intensive, Africa will lose its advantages over other nations. The underlying problem with this is that the country won’t be able to lure in more manufacturers that desire ample, economical labor.
Most African residents are now concerned that they will gain little from the automated advancements. They also added that the current economic, demographic and social trends could lead to humanitarian and security catastrophes in the future.
Declining costs of technology and increasing global production could cause a massive impact on Africa. This is particularly dreadful because economic development will most probably halt without industrialization, especially since the youth bubble displays zero signs of dropping. Based on the recent predictions, the working-age population of Africa will expand significantly over the next century as the rest of the world decreases.
The African government must enforce forward-thinking labor market policies to develop careers in labor-intensive manufacturing and invest in human capital. If not, Africa will have the world’s biggest population of frustrated and unemployed youths.