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How E-commerce Promotes Local Restaurants, African Cuisines

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Since covid-19 entered the global equation in the early part of 2020, business operations and other human activities have been reshaped to embrace digitalization.

The online community has thus continued to expand, as the majority of businesses strive for an online presence and customer reach. Online food delivery market witnessed a boom in the heat of lockdown and social restrictions, a trend which appears to be gaining more traction by the day.

This growing popularity of fast food, coupled with the growing trend for convenience and value for money have opened up opportunities in the Nigeria food market.

Local producers and restaurants have indeed embraced this evolution and reached new customers. Online food delivery players like Jumia have also played a key role in shaping the supply chain and opening up the market to new entrants.

Adetunji Lanase, Country Manager Jumia Services, explained that Jumia Food is reaching customers  across nine states of the federation. “We currently deliver meals across nine cities in Nigeria: Lagos, Abuja, Port Harcourt, Ibadan, Abeokuta, Ilorin as well as key cities in the North: Kano Kaduna, and Minna.

“It is interesting to note that 95% of restaurants on Jumia Food are local brands. Nigerian meals and organic food are growing fast due to new demand for local and healthy food. But burger, pizza, chicken, African dishes and kebab are the most popular cuisines,” he said.

The most popular local food vendors on the Jumia Food platform in Nigeria are Chicken Republic, The Place, Sweet Sensation, Kilimanjaro and Drumstick. Also available on the Jumia platform is Sooya Bistro, owned by popular Nigerian pop singer, Bankole Wellington, better known as Banky W.

Speaking on how ecommerce has been supportive for business growth and reach, Head of Marketing The Place Restaurant, Ufuoma Ogeleka said “Our partnership with Jumia has consistently provided us with an opportunity to expand our existing customer base, attend to the dining needs of our customers at their convenience and in an efficient manner and reward our customers for continually trusting us.”

According to the year 2020 Jumia Food Index Report, customers order more from these platforms due  to their affordable meals. “Chicken republic gives me an opportunity to use their Refuel Meal which is quite cheap when you look at the current market prices,” Said Sunkanmi Emmanuel, a Software Engineer who shops for food on the Jumia platform.

Online food delivery is fast becoming a lifestyle among the emerging middle class population, with many relying on having their hot meals and groceries delivered at their doorsteps, as against going out to offline retail stores to purchase.

The online marketplace is no doubt an influencing factor, boosting local food sales for restaurants, as new generations of Nigerian middle-class consumers are spending more money on food and grocery products, thereby helping to fuel growth in the market.


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E-Business

Schmidt, Ex Google Chief Says AI Risky in Terrorist Hands

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Eric Schmidt, former Google CEO
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Eric Schmidt, former Google CEO has expressed concerns about the extreme risks posed by artificial intelligence (AI) falling into the hands of terrorists or rogue states.

Schmidt, Ex Google Chief Says AI Risky in Terrorist Hands

Eric Schmidt, former Google CEO

He warned that nations such as North Korea, Iran, and Russia could adopt AI technologies to develop weapons capable of causing significant harm, including biological weapons.

Schmidt urged governments to oversee private tech companies, emphasising, “The real fears I have are not the ones most people discuss about AI, I talk about extreme risk.”

“I’m always worried about an ‘Osama Bin Laden’ scenario, where truly evil individuals take control of some aspect of modern life to harm innocent people,” he added.

With private companies driving AI advancements, he stressed the need for careful government monitoring and regulation. “It’s really important that governments understand what we’re doing and keep their eye on us,” he said.

His remarks followed a two-day AI summit in Paris, where the UK and the U.S. declined to sign a communiqué outlining the future direction of AI. The declaration on “inclusive and sustainable artificial intelligence for people and the planet” was endorsed by 57 countries, including India, China, the Vatican, the EU, and the African Union Commission.

The UK justified its decision, stating that the agreement lacked “practical clarity” on global AI governance and national security concerns.

Schmidt supports U.S. export controls restricting the sale of advanced AI microchips to certain countries, aiming to slow adversaries’ progress in AI research.

He also highlights the importance of international collaboration on AI safety, suggesting that cooperation with nations like China is essential to addressing global AI challenges.

 

 


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OpenAI CEO Rejects $97.4Bn Takeover Bid from Elon Musk

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Sam Altman, chief executive of ChatGPT-owner OpenAI
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Sam Altman, chief executive of ChatGPT-owner OpenAI, has firmly declared the company “not for sale” following a $97.4bn (£78.4bn) takeover bid from a consortium led by Elon Musk.

OpenAI CEO Rejects $97.4Bn Takeover Bid from Elon Musk

Elon Musk

Speaking at the AI Action Summit in Paris, Altman emphasised OpenAI’s mission to develop AGI (artificial general intelligence) for the benefit of humanity.

Marc Toberoff, attorney for Elon Musk, confirmed the bid submission on Monday.

In response, Altman humorously offered to buy Twitter for $9.74 billion on Musk’s platform.

Unlike many tech giants, OpenAI is not publicly traded but operates through a complex partnership between non-profit and for-profit entities.

Musk aims to return OpenAI to its non-profit roots, despite owning a rival firm, xAI.

Christie Pitts, a tech investor, expressed scepticism about Musk’s intentions, noting his competitive interests.

Altman echoed this sentiment, suggesting Musk’s move disregards OpenAI’s mission.

Altman, who holds no stock in OpenAI, advocates transforming the organisation into a fully for-profit company to raise more funds for AI research.

Although the board has the final say, the $97.4bn offer falls short of OpenAI’s previous $157bn valuation and rumoured $300bn in future funding talks.

Toberoff stated the consortium might increase their bid. Meanwhile, OpenAI is collaborating with Oracle, a Japanese investment firm, and an Emirati sovereign wealth fund on “The Stargate Project,” a $500 billion AI infrastructure initiative announced by President Donald Trump.

 

 

 

 


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Adobe Launches AI Video Tool to Compete with OpenAI

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Adobe yesterday released the first public version of an artificial intelligence tool that can generate video clips and revealed how much it will charge, but said it will not set pricing for major users such as studios until later this year.

The Firefly Video Model, as Adobe is calling the service, will compete against Sora, a model developed by ChatGPT creator OpenAI, and startup Runway, both of which currently offer video-generation services. Facebook owner Meta Platforms has also developed a video-generation AI model but has not given a timeline for when it will be released.

Adobe’s model differs from its rivals because it is geared toward generating clips that will fit into how film and television studios use Premiere Pro, its flagship video editing software.

To that end, many of the features that Adobe is emphasizing revolve around feeding existing shots into the video model and asking it to generate clips that fix or expand on shots that were taken on a real production set but that did not come out quite right.

Adobe said the service will generate five-second clips at 1080p resolution. While that is shorter than the clips of up to 20 seconds generated by OpenAI’s service, Adobe executives said the majority of individual clips in most productions are only three seconds.

Adobe said a user can generate 20 clips per month for $9.99 and 70 clips for $29.99. That compares with 50 videos for $20 per month with OpenAI’s plan at lower resolution and a $200 OpenAI plan that can handle longer, higher resolution videos.

Adobe is also working on a “Premium” pricing plan for studios and other high-volume video users and will release those pricing details later this year. Alexandru Costin, Adobe’s vice president of generative AI, said the company is working to generate 4K video and will remain focused on quality rather than longer clips.

“We actually think that great motion, great structure, great definition scheme, making the actual clip look like it was film, is more important than making a longer clip that’s unusable,” Costin told Reuters.

 


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