E-Business
Experts Proffer Ways to Protect ICT Users Against Cyber Security Crimes
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Information and communication technology [ICT] experts who spoke at the recently held Indo-Africa ICT Expo in Lagos, which was declared opened by the Minister of Communication, Barrister Adebayo Shittu, have proffered solutions to protect users of ICT products against cyber security attacks in the country.
MD/CEO of Inlaks, Femi Adeoti was represented by the Executive Director, Infrastructure Business, Tope Dare, and he spoke on “Cyber Security, Perils, Protection and the Role of ICT. He highlighted some historic events that occurred in the cyberspace in 2017, citing the rise of Ponzi schemes, which promised spurious financial returns on investments and the recent Ransomware attack, the wannacry which had negative consequences on over 150 countries including Nigeria.
Dare pointed out that the emergence of crypto-currency is a major threats to cyber security in the world today.
He said, “Hackers use cryptocurrencies based on its anonymous nature of receiving and making payments and they attack the cryptocurrency exchanges by flooding them with requests, therefore, making it unusable.
“In 2018, there will be a continuous demand for cybersecurity services and functions for cybersecurity providers and the demand will come from small and large scale businesses.
“As the demand for provider’s increases, request for technology talents would skyrocket locally and internationally, which may lead to the migration of skills outside Nigeria to the rest of Africa and the world.
“The use and promotion of effective cybersecurity regulations play a key role in reducing risks of cyber-attacks; as such, the emergence of Society for Worldwide Interbank Financial Telecommunication (SWIFT), Customer Security Programme (CSP) and the European Union General Data Protection Regulation (GDPR) companies would mandate the various bodies in order not to fall victim to cyber-attacks”, he said.
He further affirmed that the country’s regulatory agencies such as the National Insurance Commission (NAICOM), Nigerian Communications Commission (NCC), National Information Technology Development Agency (NITDA) and the Central Bank of Nigeria (CBN) would need to establish and enforce regulations and codes of conducts that will protect the nation and its citizens from losses due to cyber-attacks.
In his presentation, Director General, ICT, Ekiti State, Toyin Olaniteru shared his thoughts on “securing data and protecting privacy” and averred that banks are the main targets for computer hackers and other thieves of electronic data. According to him rogue employees use swipe card skimmers to steal card numbers and related data from customers.
“The risk of losing customers’ data is critical and needs to be managed carefully. Banks and other companies are unprepared to deal with a serious data breach.
“While data security presents daunting challenges for most, there are basic steps that can be pursued to protect organizations against the worst cyber threats.
“Some of the banks apply due diligence when employing staff, and follow-up with employees can assist greatly in reducing the risks associated with data security breaches”, he said.
The CEO of Halogen Security, Wale Olaoye who was represented by the Director, Virtual Security and Strategic Market, Dayo Abegunde pointed out that everyone who owns a mobile phone, email address and password is prone to cyber security threat.
To buttress his case, he referred to artificial intelligence, internet of things, mobile, social media and cloud computing as the game changers in the ICT world.
“While these are the game changers in today’s world, they also have their challenges. Everybody who has a mobile phone is susceptible to cyber security attack.
The growing number of intelligent connected industrial and consumer devices has created new ways that intruders can gain access to network and data”.
Listing ways to overcome data breeches, Olaniteru said there is the need to encrypt data especially when dealing with customer account and personal information as well as certain categories of employee information.
He said data security protocols must be established for password protection, encryption, employee mobile devices, data placement on drives and laptop as well as continuous employee training and transfer.
“Data mapping is important to know what data your company has and on which of the systems the data is stored. The bank or any organisation must carry out diligence on employees, computer vendors etc as this will help ensure companywide compliance with security protocols”, he said.
E-Business
Schmidt, Ex Google Chief Says AI Risky in Terrorist Hands
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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](https://i0.wp.com/www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Eric-Schmidt.jpg?resize=573%2C254&ssl=1)
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.
E-Business
OpenAI CEO Rejects $97.4Bn Takeover Bid from Elon Musk
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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](https://i0.wp.com/www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2022/04/Elon-Musk.jpg?resize=563%2C229&ssl=1)
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.
E-Business
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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