While technology disruption is no longer a newsflash and businesses are left with no option than to join the train in delivering value to customers or ceasing to remain a going concern, Nigeria’s ability to position herself in this new wave could unlock economic stimulating investments and viable businesses across all sectors of its economy.
While Nigeria continues to grow at a snail-paced rate indicating sluggish business activities in the economy, the survival of firms to a large extent may depend how well they embrace technology and values they create are through digital driven solutions.
KPMG, one of the big four professional services firms in Nigeria, at a press conference announced its upcoming 2019 Digital summit themed “Leveraging insights and experience to scale” which is set to hold Tuesday, 26th November 2019 at Eko Hotel and Suites Convention Centre, VI, Lagos state.
According to Boye Ademola, partner and lead, digital transformation of KPMG, this is the third in the series of digital summits held overtime. “It is focused on how businesses and organisations can leverage on the power of technology to create and capture value that is transformational.
The summit is said to focuses mainly on customers experience and artificial intelligence (AI). “We are looking to improve customers experience and use artificial intelligence to make better decisions that are timelier and fact based,” Ademola said.
In the words of Ngozi Chidozie, partner, strategy and customer experience, KPMG Nigeria, “the summit provides a medium to facilitate the convergence of great minds through an engaging discourse and empowerment.” This she believes will stretch the boundaries of innovation across various demographics in Nigeria.
Read also: KPMG Tax Insight
The summit which will bring to table topics around AI and robotics, customer experience transformation and design thinking aimed at improving business competitive advantage is regarded timely amid the transformational wave of technology across the world and increased competition among businesses.
“We are going to have international and well renowned technology leaders feature in this event,” Segun Sowande, partner and lead, digital transformation, KPMG Africa stated.
Also, the summit is said to provide masterclasses with in-depth insight around the theme of the event and serve as a medium to launch KPMG’s digital publication which was designed on the foundational theme of leading through digital.
“Business leaders, Tech entrepreneurs and C-Suite executives are encouraged to attend this iconic event by registering on the KPMG site using the address” Tunji Odumuboni, associate director, digital transformation KPMG Nigeria.
KPMG will also be providing a platform for FinTechs to showcase viable and scalable solutions to investors who are committed in this space.
Read also: FG urged to leverage technology to enhance economic growth
While the embracement of AI and robotics may mean the untimely death of some skills and positions hence a threat to employment given Nigeria’s current high unemployment rate, the positive side remains technology advancement creates new jobs which of course are opened to individuals who equip themselves with the right skills.
The effect of a technology driven sector or economy cannot be undermined as growth potentials can best be imagined.
Taking a look at the constant GDP report of the Central bank of Nigeria as published in its statistical bulletin. In the last 37 years (1981–2018), the telecommunication subsector of the information and communication sector is the fastest growing sector amongst other sector at a CAGR of 18 percent, outperforming the ICT industry growth of 10 percent in which it is a subsector.
As at 2018, the telecommunication industry recorded a real GDP value of N6.6 trillion, 9 percent of Nigeria’s real GDP of N69.81 trillion in 2018. This makes the telecommunication sector the second biggest subsector after crop production subsector with a real GDP of 15.78 trillion, 23 percent of total GDP.
The ICT sector of the economy in which telecommunication is a major contributor is the third biggest contributor to the GDP after the Agriculture and Trade sector of the economy. Contribution to GDP stood at 12.22 percent in 2018.
