E-Business
Experts Seek End to ‘Killers’ of IT Innovations In Nigeria
![innovation-killer-2.jpg](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2014/12/innovation-killer-2.jpg)
Technology experts have identified three hurdles before startups, especially in the Nigerian Information Technology (IT) space including lack of access to finance; the right platform or network; and partnership to leverage on and access the wider markets.
Mr. Jospeh Umunnakwe, general manager, Microsoft Mobile Devices and Service, West Africa, said that startups in the IT terrain are the major motivations for a replica ‘Silicon Valley’ in Nigeria, however there are three things that must be addressed.
“Let me make reference to Airtel’s Catapult-a-Startup initiative. It is such that can help bride the three major challenge among the IT startups such as the providing the right platform for mentoring, financial or networking and the partnership to actually open their sights to the international market.”
Nodding in agreement, Olubunmi Ekundare, country manager, Intel Corporation (Nigeria) said that “Current cars, for instance, “have about 8000 different parts and there are industries around it. If we look at Japanese cars there are small industries around the modern cars; who manufacture the headlamps, tyres, speedometers for cars, among others and that is how the country has reached to where it is today.
“There are tremendous potentials we have in Nigeria; our population, our brains, our youths, and what they can really get up to do. I encourage you to take up opportunities like the Airtel Catapult-a Startup. The other thing at Intel we have our investment arm; Intel Capital also cited in Lagos. So, there are a lot of potentials and our investment director keeps telling me, ‘I have no businesses to invest-in. I have no ideas to invest-in’. So this is also a good opportunity.
“If you have the ideas, you can be sure that there is a venture capital looking for ideas to invest-in. we have best-known-mentors that we can share with all over the world. We are going to be actively involved in the Airtel Catapult-a-Startup. Potential Silicon Valley entrepreneurs will take advantage of it.
Also Alex Tasin, managing director, Blue Management, said that enough platforms have been provided for the startups, but venture capitalists are willing to invest on ‘marketable’ ideas.
He said, “about 18 months ago, a company called 2go from South Africa showed up in my office with a very puzzling-problem. They have developed an interesting social networking application targeted for South Africans, however, over time they realized they have gained nine million users in Nigeria.
They have never done any marketing, or promotion in Nigeria. They had three million users in South Africa. As it turned out, there are several applications or businesses that were started outside Nigeria that are thriving here.
“Eskimi is another one and Facebook has been mentioned; Nigeria is its largest market in Africa. Twitter application has also found very mass market use in Nigeria. What that means is that, there is a huge opportunity for us to start our own businesses and capture as much value as these other companies are doing.
E-Business
Schmidt, Ex Google Chief Says AI Risky in Terrorist Hands
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Eric-Schmidt.jpg)
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
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Open-AI.jpg)
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
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Adobe-logo.jpg)
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.
- News2 days ago
TikTok Returns on Apple, Google US App Stores as Trump Delays Ban
- General News2 days ago
Researchers Develop Innovative Treatment for Malaria
- Broadcasting2 days ago
FG Kickstarts Construction of Emerging Technologies Institute in Kano
- Telecom2 days ago
Visa Launches Report on Digital Payment Landscape in Nigeria, Shows Positive Outlook
- E-Financial2 days ago
African Union Launches Credit Rating Agency to Promote Regional Economic Integration
- General News2 days ago
Nigeria to Host ICEGOV 2025, A Milestone in Digital Governance and Global Leadership
- General News2 days ago
MTN Nigeria Foundation Supports Education with Donation of School Supplies to 1000+ Students
- Broadcasting2 days ago
Family Marks one-year Memorial of Late APC Chieftain, Ojougboh with Charity Outreach