Risks associated with the adoption of emerging 4IR technologies in South Africa

Abstract

This study investigates the risks associated with the adoption of emerging fourth industrial revolution (4IR) technologies by organisations operating within South Africa. The adoption of emerging technologies introduces risks that prevent improved competitiveness of the organisation. Using a qualitative approach, this research explores these risks by applying a thematic analysis of interview data found in the gathered insights of 12 senior leaders from five industries and six professional disciplines involved in risk management practices within South African organisations. The study identifies a coherent linkage between the sources of challenge in emerging technologies, identified risks, and the potential for categorising and prioritising of these risks within a risk taxonomy. This study emphasises the need for collaboration between risk professionals and senior leadership to manage the uncertainty associated with technology adoption effectively. Furthermore, this study recommends a structured and responsible enterprise risk management strategy for organisations when navigating the complexities of emerging technology adoption. Finally, the research suggests further investigation into expanding the definition of emerging technologies beyond AI, big data, and IoT, and to consider the specific risks faced by early adopters in the South African context.