Technological Capabilities Required to Enable Organizations for Digital Platforms Businesses in the Era of 4 IR and 5IR

The purpose of this study was to investigate the capabilities required to equip traditional and potential platform businesses for digital transformation and success in digital platform business initiatives in the Fourth Industrial Revolution (4IR) and Fifth Industrial Revolution (5IR) era in a South African context. A conceptual model was proposed comprising of five components, including 4IR systems, 5IR systems, digital platforms, enabling technological capabilities and impeding technological capabilities. The model was tested using data collected, in an online survey questionnaire, from 25 participants within a South African technology organization that has implemented digital platform initiatives. The results have shown that critical technological capabilities for the 4IR and 5IR era included Artificial Intelligence (AI), machine learning, cloud computing, data-driven decision-making, technical expertise, and project management. Core enabling capabilities for digital platform business initiatives to succeed, included technical expertise, data analytics, system understanding, change management, organizational culture, and leadership. Impeding factors that could negatively impact the success of digital platform business initiatives include change resistance, lack of skills, budget constraints, lack of cybersecurity measures, and integration challenges. These barriers can delay market entry, reduce competitiveness, and increase security vulnerabilities. Conversely, enabling technological capabilities enhances organizational efficiency, flexibility, and customer centricity, leading to successful digital transformations. A limitation of this study is the small number of respondents who participated in the research questionnaire.