Africa: Embrace Tech Revolution or Die, Business Warned

Johannesburg — AMID the coronavirus (COVID-19) and subsequent acceleration of technology, slow and cumbersome companies risk lagging behind agile and exponential entrepreneurs.

This has been the prevailing theme at the opening of the SingularityU South Africa Summit Online 2020.

Peter Diamandis, the executive founder of SingularityU, officially opened the event.

"Exponential technologies are hitting the planet like an asteroid strike," he said as he welcomed guests from around the world.

Diamandis said companies slow at adopting technology were unable to keep up pace.

"Agile entrepreneurs, the exponential entrepreneurs, however, can pick up the pieces and create an incredible future. They are doing things more cheaply and much more quickly."

Diamandis is also the founder and executive chairman of the X Prize Foundation.

He is also an accomplished author.

His last book, "The Future is Faster than you Think" that looks at the future of business, came out in January this year.

A lot of the changes projected in this book have already occurred, with COVID-19 among the main developments.

Diamandis forecast that a variety of COVID vaccines would come and bring the world back to a sense of normalcy.

"However, many things will never go back as we have only moved forward to where we would have been anyway, more rapidly," he said.

SingularityU is a part of Singularity University (SU) - a global learning and innovation community using exponential technologies to tackle the world's biggest challenges.

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