Technology
How Eko Innovation Centre, LASG Chart New Course For Data Driven Smart City
Published
4 years agoon
In today’s world the influence of data and technology for brands and the society at large cannot be overemphasized as deployment of artificial intelligence, artificial realities and many others play a key role in the society.
Many advanced countries are well known for their data management and usage of technology to make every of their operations from governance to business seamless. Remarkably, data-driven smart cities have raised the quality of life for people around the globe.
Achieving a smart city has been the dream of many African countries in order to meet up with the rest of the world. Nigeria has also been yielding to get data management right admits various challenges that still exist; however, Lagos is making a difference with its various initiatives that it is partnering with the Eko innovation Centre, a leading innovation hub in the country.
This year, Eko Innovation Centre in partnership with the Lagos State Government (LASG) through the office of Innovation and Technology organized the second edition of Art of Technology (AOT) Lagos 2.0. The two-day conference brought together the best of tech minds from across the globe physically and virtually on the 3rd and 4th of December 2020 which is in line with its Smart City agenda of making Lagos a 21st century economy.
The event was themed ‘Smart Data, Smarter Lagos,’ and the conversation centred on the fundamental role data plays in connecting the city with its citizens and how data can be collected, collated, analysed and deployed for governance, commerce and development. The event had the Vice president, Prof. Yemi Osinbajo; the Lagos Governor, Mr. Babajide Sanwo-Olu; Commissioners and others eminent stakeholders in the private and public sector.
According to the Curator of Art of Technology Lagos and Founder of Eko Innovation Centre, Mr. Victor Gbenga Afolabi, the two-day summit was building on the success of the maiden edition which held in 2019 which recorded over 2,000 participants in attendance. He noted that last year one of the key successes was the launch of the Lagos Innovation Masterplan which has continued to guide the Lagos state government in achieving its Smart City agenda.
Meanwhile, this year’s edition recorded another milestone with the launch of Startup Lagos, an initiative meant to empower Lagosians. Also, it recorded a milestone of more than 8,000 participants. The conference featured about 60 industry speakers, 50 investors and 35 experience centres.
Speaking on the choice of the theme, Advisory Board Member, Eko Innovation Centre, Doja Ekeruche said “The choice of the theme, ‘Smart Data, Smarter Lagos’ is because we understand the value of data, identifying and leveraging the outcome of data and its insights to develop the most populous city in Nigeria and indeed in Africa.
“The concept was to build and strengthen the capacity of stakeholders to actively participate in the development of Lagos into a smart city and then chart a vision for the next phase of development in order to cement Lagos as Africa’s key tech hub.
“We do understand that data is the bedrock to accurately plan for every single segment of the city including electricity, security, transport, healthcare, education, even the creation of jobs. Every single aspect of our living requires the use of data and today, the data exist but it has not be gathered, created and it has not been analysed in a way that it delivers insights in a way that enables decision makers to take the right decision that will transform the city.
“I think the most important thing is that the discussions we have had in the last two days, we are confident that we have raised again the importance of gathering of data to indeed to drive or enhance the potential of our demography and discover the potential of the city,” she stated.
Meanwhile, the Vice president, Yemi Osibanjo speaking at the event, said this administration is working harder to make Nigeria a smart country, noting that human creativity and ingenuities are major assets needed to make the society a smart place.
He maintained that President Muhammadu Buhari’s administration would continue to pursue its digital and technology agenda to keep the country at pace with the rest of the world. ”Data is everything. We are gathering economic data, demographic data and other data coupled with our resourcefulness to manage over two million people. So, we must leverage technology and data for better plans, policy design and decisions making. Smart data makes smart governance,” he stressed.
Similarly, the Lagos State Governor, Babajide Samwo-Olu on his part restated its commitment to make the state a smart city by digitalizing its operations which is in line with his THEMES agenda
He affirmed that the state is leaving no stone unturned to give residents sound governance, this he said, can be possible through data gathering, thus, the state has proposed to capture four million Lagosians to serve the people better. He said, “We need to know ourselves, so with data obtained from Lagos State Residents Registration Agency (LASRRA) and other agencies, we shall be able to plan well, take informed decisions and make better policies.”
Correspondingly, Tunbosun Alake, Special Adviser, Innovation and Technology to the Governor of Lagos State stated that government is working tirelessly to make the state better and become the nation’s technology hub, adding that data is necessary to seamlessly run the affairs of the state.
He explained that as a result of COVID-19, a lot of government operations including cabinet meetings are now being done on digital platform.
Noteworthy that AOT Lagos 2.0 had series of breakout sessions and subthemes where experts charted a new course for the state with topics such as Global Cybercrime and Data Protection: Building a Smart Lagos in the face of Security breaches; Lagos 2030: Data as vehicle into creating the future; Diversity and inclusion in tech creating and others.
Experts at the event proffered various solutions to achieve a data-driven smart city. Lisa Da Silva, Principal Investment officer, IFC and keynote speaker said smart city development start with a really strong vision and thoughtful planning and in this case, Lagos is way ahead of many states with the launch of a master plan last year December.”
She added that one of the foundations for Smart City development is regulation, stating that the regulatory environment needs to enable digital solutions through regulation on data management and technology.
Ibukun Awosika, Chairman, Board of Directors, First Bank of Nigeria Limited on her part said states need to gather data because it is key to planning and with acquire data and government’s implication of it programmes for citizens, jobs would be created and other basic amenities would be provider as well.
She pointed out that there is shortage of data scientists which the state needs to enable it’s aim of smarter city become a reality.
Meanwhile, Dr Demola Sogunle, Chief Executive, Stanbic IBTC and keynote speaker, when he speaking on the topic “Solving Africa’s digital payment challenges: The data Infrastructure” recommended that government needs to go into partnerships with private sectors in order to deliver the required payment infrastructure.
He also called for digitize common transactions, stating that identifying and deploying a fit-for-purpose payments infrastructure for the transport sector will significantly improve adoption of digital payments and drive financial inclusion.
In the same vein, he called for the incentivize use of digital channels for transactions. “Consider providing incentives such as cash back and discounts to encourage the use of digital channels.”
In addition, he also called for investment in infrastructure, “Use of self service stalls, wifi coverage offerings for transactions, etc towards driving more people to adopt digital payments. Drive development of robust IT connectivity.”
Lastly, he called for inclusion of IT and financial literacy programmes in the educational curriculum and also collaborates with financial institutions to track and prosecute fraudsters, and provides a framework for re-imbursing victims to improve confidence in digital.
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Create AI Strategies In Line With Your Business Strategies – Deloitte West Africa Tells Firms
Published
8 months agoon
June 8, 2024Data Science and Analytics Leader at Deloitte West Africa, Jania Okwechime, has advised firms to leverage Artificial Intelligence (AI) responsibly and sustainably by creating AI strategies in with their business plans. According to her, businesses also need to put governance and risk processes in place so that they can innovate with trust and confidence.
Jania Okwechime disclosed this at an interview with the media at the sidelines of the just-ended 8th Ghana CEO Summit held in Accra. She mentioned that in this era, AI is transforming businesses more than anything else in the world and therefore called on institutions across West Africa to embrace AI.
Jania also advised businesses to take advantage of AI to improve and accelerate their products and services for the benefit of their customers. Although she acknowledges the growing adoption of AI in West Africa, she stated that the adoption of AI globally has moved from the Programmable Logic Controllers (PLCs) stage to more implementation stage.
“In the African continent, we are still experimenting with some of the opportunities that the AI can generate for the people. So, we see adoption, but it could get accelerated”.
“I think it is not going to be long before they would see the impact of AI. You already saw some of the presenters [8th Ghana CEO Summit] today specifically in the telecoms and advertising industry that, AI is already being leveraged by businesses. We are only going to see the acceleration in the next coming years”.
Why AI has become a buzzword
She noted that although Artificial Intelligence has been around for decades, AI has now become a buzzword.
According to her though Artificial Intelligence has been around for decades, businesses have now realised its importance and are now taking advantage of it because of the data explosion.
“Every time an action is created, data is formed. Every time we send a text message, every time we pick up the phone to make a phone call, every time we pick our favorite series on Netflix, it’s creating data. So, there’s a huge data explosion”, she mentioned.
“Ninety percent of the data that we used today were created in the past two years. So, you can imagine. Now we have no choice but to harness technology like AI to be able to gain insights”, she added.
Generative AI and the traditional AI
Touching on Generative AI and traditional AI, Jania reiterates the differences between the former and the latter.
In her words: “The difference is that Generative AI can perform tasks predominantly done by humans. Like reading documents, creating documents, generating videos, generating reports, etc.”
“Now, it is making AI more accessible to businesses in a way that they can harness in three different ways. They can change the way they interact with their customers and increase customer experience internally within their network and their internal organisations. So, that they can improve internal statistics”, she pointed out.
Continuing, she said by harnessing AI and generative AI, businesses can reduce cost by automating tasks, and can make things more effective and efficient.
“One thing that is key to also mention is why AI and generative AI are used today for automation tasks and improving the set of processes that businesses already have. Businesses that are going to be successful and thriving in the next five years are those which are harnessing AI to transform what they are doing. And this needs some more thinking”, she stated.
Concerns about AI leading to job losses
On concerns of AI leading to job losses and other things, she said: “So, that is the concern right? because I mentioned that there are certain things that AI and generative AI can do today that were predominately done by humans. So, that is a concern, and we understand why. However, it doesn’t need to be”.
We don’t need to worry
“We don’t need to worry about our staff and our talent losing jobs, but rather we must transform the talent. So, things are going to change in businesses. Their staff are going to change the way they work. So, organisations are responsible for upscaling their staff”.
She added that “Because their roles are going to be transformed. Instead of one person being in charge of creating a report, now that person needs to know how to use and leverage AI solutions to be able to interpret that report to be able to make strategic decisions. So, AI has a big implication on talent and the responsibility and the responsibility of the organisations to invest in the talent and upscale it”.
Technology
Ericsson Study research reveals split in AI expectations
Published
8 months agoon
June 6, 2024Ericsson found almost half of respondents to its ConsumerLab report have fears over AI’s potential influence, though most believe the technology can assist users across areas including education, employment and childcare.
The vendor polled more than 6,500 early adopters across 13 cities globally about their expectations of how AI could influence their lives in the 2030s, asking them to evaluate 120 digital services across 15 areas that are powered by the technology.
Services range from personal shopping assistant to simulation of real-life experiences and work-related advisers.
The report reflected a divide in opinions regarding future AI deployments, with 51 per cent of participants expressing “hopeful” expectations on how the technology can be applied, compared to 49 per cent who are “fearful”.
However, only 37 per cent of respondents under the hopeful category believe they will have control over how the technology is used in their own lives. The figure is lower for those under the fearful category, at 27 per cent.
Notably, Ericsson found “60 per cent of even the most ardent AI fans believe they will not have full control of how it will impact their lives in the 2030s”.
In terms of use cases, 80 per cent of the total respondents believe they will devise AI simulations to help them make “life-altering decisions”, such as buying a house or adopting a healthier lifestyle.
Participants also believe AI can assist in upskilling children and help them secure an attractive job.
Head of research agenda at Ericsson Consumer and IndustryLab Michael Bjorn said the research mirrors early adopters’ expectations that AI will have “significant roles in their future daily life”, while noting the technology’s future implications on network data traffic.
”Another insight is the concern that early adopters have, including the biggest supporters of AI, about the future control of AI in their personal lives. This shows a need for companies working with AI to address the concerns of consumers as they develop solutions.”
Technology
Nvidia leaves Apple behind as market cap passes $3trn
Published
8 months agoon
June 6, 2024Nvidia’s market capitalisation surpassed the $3 trillion mark in a feat that places the AI chipmaking powerhouse as the world’s second most valuable company, surpassing Apple for the first time.
The company has experienced rapid growth in the past year, in particular as early bets around chips to power AI models began to pay off, taking it to a value of $2 trillion in February. With its share price surging 5 per cent yesterday (5 June), it ended the day at $3.01 trillion, marginally ahead of Apple at $3 trillion.
Notably, Apple lost its position as the world’s most valuable company to Microsoft earlier this year, also largely due to the latter’s AI push and partnership with trailblazer OpenAI. Nvidia could expect a further surge after instigating a stock split, which will increase the number of shares bought by a factor of ten while reducing their value, enabling smaller investors to get involved. The move will go into effect tomorrow (7 June).
Before the AI boom, the company founded in 1993 was best-known for producing computer chips which process graphics for gaming. CEO Jensen Huang has said AI models will lead to a new “industrial revolution” and transform global businesses. The company reported revenue of $26 billion in Q1, up 262 per cent year-on-yea