Industrial and industrialisation policy, while it must always be positive for tech, must be anchored around the protection of jobs. Policymakers should understand the implications of certain policy actions.

Listen to this article 10 min Listen to this article 10 min Over the past few centuries there have been many periods of advancement, the most prominent of which would be referred to as industrial revolutions. These periods are characterised by major transitions within economies, transforming economic states.

The Fourth Industrial Revolution (4IR) is the current transformational shift taking place in economies around the world, and it is perhaps useful to deconstruct the endgame.

There is much evidence globally that technological advancement has had (and is currently having) a material impact on society. Whether we look at transport networks, energy security, food production, information technology or other sectors, most societies have experienced the underlying benefits of tech advancement.

Applying science and technical innovation alongside improved financial systems (enhancing capital flows) has been excellent for societal development.

We have similarly seen operating margin expansion as a function of better tech leading to increasing operational efficiencies - evidence of this impact on businesses. Within production, there are two primary inputs: labour and technology.

Technology has over time increased productivity, leading to greater availability of goods and services (increasing real supply), boding well for economic activity and job creation. This is also reducing...