Faculty of Commerce, Law and Management (ETDs)

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Subject: search.filters.subject.SDG-9: Industry, innovation and infrastructureSubject: search.filters.subject.SDG-8: Decent work and economic growth

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    Attitude and acceptance of Artificial Intelligence technologies in the South African financial services. industry
    (University of the Witwatersrand, Johannesburg, 2024) Wotela, Ruth Rumbidzai; Maier, Christoph
    Despite Artificial Intelligence (AI) being topical, the successful adoption of AI technologies within organisations has been slower than expected. Literature and past research highlights the mixed and contradictory views and findings regarding employees’ attitude and acceptance of AI technologies, which challenge the successful implementation and use of AI technologies. Further, research on employees’ attitude and acceptance of AI technologies in emerging market economies, such as South Africa, and specifically within mandatory settings is limited. The purpose of this research was to investigate and determine factors influencing employees’ attitude and acceptance of AI technologies amongst employees within the financial services industry, where the use of AI technologies is mandatory. The Technology Acceptance Model (TAM) and the Technology-Organisation-Environment (TOE) framework were integrated and extended. This quantitative research study used a cross-sectional design. An online survey was distributed to employees within financial services organisations. A total of 410 valid responses were analysed using descriptive statistics, correlation analysis and regression analysis. Textual responses from the open-ended questions were categorised and presented visually in the form of word clouds. The research results indicate that each of the technological, individual, organisational, and environmental factors have a significant positive effect on attitude towards use of AI technologies. Multiple regression and stepwise regression analysis were used to identify the most influential determinants of attitude towards use of AI technologies from all the technological, individual, organisational and environmental factors. The results indicate that employee wellbeing, competitive pressure, perceived usefulness, management support, perceived ease of use, organisational justice and customer pressure are key determinants of attitude towards the use of AI technologies. The attitude-acceptance relationship is confirmed, as attitude towards use of AI technologies positively influences the acceptance of AI technologies. Although employees’ job roles do not moderate the relationship between attitude and acceptance of AI technologies, their experience with using AI technologies does. Based on these findings the ITOE model for implementing AI technologies is developed, and can be used to facilitate the successful implementation and use of AI technologies. The implications of this research, as well as recommendations for organisations and future research are also discussed.
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    Digital transformation strategies in the South African banking sector
    (University of the Witwatersrand, Johannesburg, 2023) Sibeko, Simphiwe Annita; Godspower-Akpomiemie, Euphemia
    The emergence of digital solutions has created unexpected players in the banking sector as the market slowly grows to defy boundaries. New entrants in the market are challenging the traditional players who have dominated the South African banking sector by introducing digital solutions and low-cost operating models. To compete in this rapidly changing and evolving market, traditional banks should prioritise digital transformation. To drive innovation and long-term solutions, organisations should seek change and transformation. The concept of digitally transforming corporate, operational, and functional strategies of an organisation underpins the focus of this research article. The fundamental objective of this research is to enhance comprehension of the current advancements in the discipline of digital transformation strategies. This study aimed to contribute to not only the assessment of strategy maturity and effectiveness, but to provide context to the South African banking sector. The objectives were achieved through qualitative comparative analysis of audited integrated annual reports and surveys on customer experience to calculate Net Promoter Scores in the industry. Analysis was conducted by applying a conceptual framework constructed by leveraging existing theories in literature, to identify and scrutinise the relationship between digital transformation strategy designs, learning and growth initiatives, and customer experience on the overall performance and market leadership. The framework provided structured analysis and standardised data to test strategy effectiveness between the four sample banks. Overall, the study argues the need of standardised attributes pertaining to digital transformation strategy design and initiatives, which will drive accurate reporting on strategy maturity. Data reported is decentralised as there are not governing frameworks to align reporting. Aligning key attributes will provide decision makers with better insights and equip incumbents to respond less tactically to the evolving world of banking.
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    Using 3D Printing Technology for Manufacturing Interior Aesthetic Components for Customisation in the Automotive Industry
    (University of the Witwatersrand, Johannesburg, 2024) Mbambo, Nondumiso
    The research is a business venture proposal focusing on exploring the concept of automobile interior customisation through a 3D printing. The research gap of inclusivity in the current offering of the automobile interior was articulated. Theories of digital transformation, digital maturity, innovation, lean innovation and entrepreneurship were used to inform this study. The conceptual framework was developed using the variables of age, gender, customisation, connectedness and purchasing intent. The qualitative research strategy was adopted for the research and probability sampling was used to sample random respondents. Reliability and validity were determined using CFA and SEM. The findings of the study revealed that the concept of customisation is not dependent on age and gender therefore an inference drawn was that market segmentation ought to be done by needs and preferences as opposed to demographics. The findings further revealed that there is a need for this customisation offering as both customisation and connectedness were found to be drivers of purchasing intent. The business case for Mageza 3D printing was advised by the findings of the study where the target market was identified. The business strategy focused on the market penetration, the staggered approach in the operations rollout to 2035 as well as the marketing plan for the concept of customisation. The business showed profitability of 15% from the first year reaching 26% by the fifth year. The main limitation of the study was in the research methodology adopted whereby the inclusion of a qualitative research strategy would have offered a more holistic understanding of concept buy-in across the value chain. In this regard, future research was recommended to assist in solidifying this business case
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    The Perception of Bookkeepers on the Adoption of robotic process automation in the automotive industry in Gauteng
    (University of the Witwatersrand, Johannesburg, 2024) Dlamini, Nozipho; Robert, Venter
    Background: The automotive industry in Gauteng, South Africa, stands at the cusp of transformative technological integration, with Robotic Process Automation (RPA) emerging as a key driver of efficiency and innovation. However, the successful adoption of RPA hinges not only on technological prowess but also on the perceptions and attitudes of the Bookkeepers tasked with its implementation and utilization. Objective: This study aims to investigate the effects of Robotic Process Automation on bookkeeping staff in Gauteng's automotive industry. By understanding their perspectives, this study aims to investigate the effects of Robotic Process Automation on bookkeeping staff in Gauteng's automotive industry. Method: In the study, a qualitative method approach was employed to comprehensively capture employee perceptions. Semi-structured interviews were conducted with key stakeholders across the finance and controlling domains within an automotive company. Data analysis involved thematic coding of interview transcripts and statistical analysis of survey responses to uncover patterns, themes, and correlations. Results: Preliminary findings suggest a diverse range of attitudes towards RPA adoption among Bookkeepers in the Gauteng automotive industry. While some express enthusiasm for the potential efficiency gains and reduced mundane tasks, others harbor concerns regarding job displacement and skill obsolescence. Additionally, organizational culture, leadership support, and communication emerge as critical factors shaping employee perceptions and readiness for RPA implementation. The synthesis of qualitative data provides a rich understanding of the complex interplay between individual attitudes, organizational dynamics, and technological integration in the automotive sector.
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    The role of digital technologies in enabling subsistence farming in rural KwaZulu Natal
    (University of the Witwatersrand, Johannesburg, 2024) Zulu, Mamakhethe; Magida, Ayanda
    Food security has grown in importance over the years, ranking among the world’s most pressing issues. High food demand has led to poverty, yet sustainable food production methods have proven effective in reducing it. Because of both macro and micro environmental factors, the adoption of digital technology in agriculture have recently had a significant impact on the global landscape. Digital technologies are assisting in meeting the increasing need for sustainable food production on a worldwide scale. This has been achieved by incorporating several digital technologies such as robotics, automation, sensors, Internet of Things (IoT), and data analytics into agricultural processes to maximize crop yields, lower emissions, and optimize farming inputs. By allowing the traceability of goods and processes, this can enable transition from hard human labour to continually automated processes and thus improving agricultural productivity. This study aimed to investigate how digital technologies can enable subsistence farming in KwaZulu Natal. A qualitative approach was adopted for the research, thirteen participants who were subsistence farmers were interviewed using open ended questions. Thematic approach was used to analyse the findings. The findings revealed that adoption of digital technologies was still in its infancy stages, and this was attributed to socio-economic factors such as lack of digital skills, lack of capital to purchase and maintain farming technologies, access to reliable power sources and water. Incorporating technology into farming practices could lead to innovative farming in the rural communities of KZN who still practice conventional farming methods. By applying digital farming technologies, farmers can obtain precise and up-to-date observations on several factors impacting their yield, including plant health, soil quality, meteorological conditions, and the prevalence of pests and diseases. Digital technologies assist agricultural The role of digital technologies in enabling subsistence farming in rural KwaZulu Natal iii producers and academics to make better judgments by analysing the findings. Data obtained can enhance productivity, cut expenses, and oversee resources. Though unevenly, Southern Africa has been rapidly going digital. But the revolution that digitisation promised has not yet materialised in the food and agriculture sectors. Even if these technologies may still be in their infancy in Southern Africa, policymakers must have a forward-thinking mindset to foster an atmosphere that encourages the usage of digital solutions. Encouraging regulations, infrastructure, expertise, and government assistance will be critical in building the foundational elements required to enable DT in agriculture to flourish. It is important not to undervalue the importance of straightforward, useful, and relevant digital tools in African agriculture, particularly when interacting with farmers in rural arears.
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    Understanding The role of digitalisation in funeral insurance claims in South Africa
    (University of the Witwatersrand, Johannesburg, 2024) Suliman, Mohamed Ameen; Tweneboah, George
    This research report studies the role of digitalisation in funeral insurance claims in South Africa. The study seeks to understand the benefits as well as the challenges faced by digitalisation in funeral insurance claims in South Africa. A qualitative research study was undertaken within a large funeral insurer based in South Africa. Semi-structured interviews were conducted with employees of the organisation who had expert knowledge of funeral insurance claims. Inductive thematic analysis was the method of choice for understanding the results. The study's findings were that digitalisation has a role to play across multiple points in the claims journey. Benefits of digitalisation include driving efficiency of back-end processes with applications like automation of the claims process as well as supporting fraud detection with artificial intelligence. Challenges of digitalisation include the adoption of digital tools by the insurer and the customer, cybersecurity and the socio-economic dynamics of customers in rural areas. Insurers would benefit from digitalising their workflows to unlock efficiencies within their existing claims processes. Customers would benefit from these efficiencies, as well as the enhanced customer experience that digital channels can provide. The study was limited to employees within a single funeral insurer in South Africa. Further study could be to replicate the study across the broader funeral insurance industry, capturing more players within the market. Additionally, further study on the interactions between particular technologies and their effect on the claims process would be valuable
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    The influence of Entrepreneurial Capital on the performance of subcontracting SMMEs in Gauteng, South Africa
    (University of the Witwatersrand, Johannesburg, 2019-03) Rampa, Mmatsatsi; Galawe, Jabulile
    This study explores the prospect of entrepreneurial capital in stimulating SMME performance. It seeks to investigate the use of non-financial capital (entrepreneurial capital) in SMMEs registered under the CIDB, in the general building sector, and its influence on SMME performance. It unpacks the two dimensions of entrepreneurial capital which are entrepreneurial commitment and entrepreneurial competence. This study is a quantitative research, based on a positivism research paradigm. The survey structured research instrument was collected using Qualtrics. The primary data, with a sample size of 377, was distributed using emails and was consolidated via Qualtrics. The data analysis and interpretation was based on descriptive analysis, correlation analysis, exploratory analysis and multiple linear regression analysis. The study was initially designed to analyse the two dimensions (entrepreneurial competence and commitment) collectively with their antecedents (opportunity, relationship, conceptual, organising and strategic competencies); and (normative, continuous and affective commitment) respectively. The survey findings could not converge into a clear multi-dimensional factor structure for each construct. Hence the analysis could only be undertaken at the dimensions level without breaking them down any further into their sub-sets. Entrepreneurial competence was the only one of the two that emerged as the statistically significant predictor of SMME performance. However, both dimensions had a positive influence with business performance, though entrepreneurial commitments’ influence was weak and not statistically significant. SMME owners/managers should continuously advance and assess their specific entrepreneurial competence in order to positively influence their business performance. Policy makers, training and support programmes should align content to specific entrepreneurial competence.
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    Predicting Systematic Risk Using Artificial Neural Networks
    (University of the Witwatersrand, Johannesburg, 2024) Setloboko, Thabiso; Alovokpinhou, Sedjro Aaron
    Financial institutions and investors are always investigating mathematical models that can enable them to make accurate predictions of time varying variables. For the longest time, statistical and autoregressive models have been at the forefront of forecasting. However, these are only accurate in short horizons; that is, these models are more accurate in daily, weekly, and monthly forecasts. This paper seeks to investigate long-horizon (yearly) forecasts using machine learning models called Artificial Neural Networks. The network uses neurons similar to biological neurons in living things, allowing them to study complex data patterns and retain pattern behaviors that allow them to make accurate predictions. The paper is based on the novel discovery that in forecasting long-horizon time series data, neural networks outperform statistical models significantly. The paper uses market data from the Johannesburg Stock Exchange and the New York Stock Exchange to represent the emerging and advanced markets, respectively. The forecasted data involves pre and post COVID-19. The shock introduced by the coronavirus is investigated to check if the forecasting ability of the model is affected. The empirical results demonstrate that the models accurately forecast systematic risk in the South African market more than in the American market. The accuracy of the model is measured by using root mean square error and mean absolute error. The model produced low error values for both markets, indicating their effectiveness in forecasting. It was expected that the error measures would consistently get lower as the time horizon increased; however, there were inconsistencies. For a portfolio manager, the results obtained in this research are interesting because the model handles large quantities of data and forecasts long-horizon systematic risk with little error. However, further investigation on this model still needs to be done.
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    The digital maturity of supply chain technology in South Africa
    (University of the Witwatersrand, Johannesburg, 2024) Nkwenkwe, Monde; Oba, Pius
    “The most profound technologies are those that disappear... They weave themselves into the fabric of everyday life until they are indistinguishable from it” wrote computer scientist and visionary Mark Weiser nearly 25 years ago in his essay The Computer for the 21st Century (Facchini, 2020, p.39) Agility, resilience, and reliability have emerged as increasingly vital factors in supply chain management, particularly in navigating the complexities of a digitalized landscape. The objective of the study is to assess the digital maturity of supply chain technologies in South Africa, contrasting them with global maturity standards. The study's motivation stems from the need to comprehend the capacity of supply chain networks to meet the growing demand driven by the adoption of e- commerce and other external factors affecting the supply chain. The study on the digital maturity of supply chain technology in South Africa is crucial as it provides a comprehensive assessment of how advanced and integrated digital technologies are within the country's supply chain sector. It highlights the current state of technological adoption, identifying areas where South African supply chains excel and where they lag. This understanding is vital for enhancing operational efficiency, competitiveness, and resilience against disruptions. Furthermore, the study's insights can inform policy making, guide investments, and support businesses in adopting best practices, ultimately contributing to economic growth and sustainability by optimizing resource use and reducing operational costs. Employing a qualitative research approach, the study explores patterns of technology adoption in the supply chain and the resulting maturity of the technology, as per the propositions. The conceptual framework provides a clear delineation of the evolution from a traditional supply chain to a digitalized value chain, integrating technology across various segments of the supply chain network. Furthermore, it elucidates the integration of 4IR technologies such as IoT, robotics, cloud services, and big data analytics and the resultant impact on the efficiencies and effectiveness of the supply chain. Data was gathered through both focus group sessions and individual interviews involving a diverse range of supply chain experts, including individuals from sales, consultancy, implementation, and support teams. The primary finding indicates a consensus in adoption between the global patterns and the south African context. However, it is evident that the maturity level of technology utilization remains in its infancy stage in South Africa. Resilience of the supply chain is limited by the siloed implementation approach of technologies that do not function across the full value chain and data inconsistencies across the value chain prohibiting end to end visibility for efficient fulfilment of consumer requirements. Mature digital implementation of supply chain technology can significantly impact businesses in a positive manner by enhancing efficiency, competitiveness, and strategic decision-making
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    Implications of the just energy transition for employees in the South African coal mining sector
    (University of the Witwatersrand, Johannesburg, 2024) Njokwana, Zukiswa
    South Africa’s economy is heavily reliant on coal-fired power which greatly contributes to greenhouse gas emissions, hence the country’s commitment to shift to renewable energy by 2030 as per the Paris agreement. However, this shift has the potential to leave employees in the coal mining sector uncertain of their jobs, thus, the need to implement the Just Energy Transition (JET) which aims to institute a just and fair transition for coal mining sector employees and affected communities. This research explored implications of the JET for employees in the South African mining energy sector in Mpumalanga province. It assessed employment benefits and challenges of the JET, and also examined forms of organisational employee support for employees in the coal mining sector in South Africa. Ten participants were interviewed and the collected data was analysed using thematic analysis. The data incorporated evidence from participants which revealed that there are employment benefits and challenges of the JET for employees in the coal mining sector in South Africa. The data further exhibited that coal mining sector organisations can play a role in supporting employees in the transition process. In conclusion, the study contributed in revealing the JET implications on the South African coal mining sector employees related to employment benefits and challenges, and organisational support mechanisms. Another revelation is that there is a lack of strong awareness about the JET among employees which implies inadequate organisational communication to employees about the JET. This is a threat to the implementation of a just transition for employees