Connect with us

E-Business

How e-commerce addresses Nigeria’s unemployment challenges

Published

on

Kindly share this post

It is no longer news that Nigeria shares the unenviable status of being among countries with the highest unemployment rate in the world. However, e-commerce can help change the narrative about opportunity, inclusion and balance in the Nigerian economic landscape, especially for Nigeria’s teeming youth population.

A joint research by the World Bank  and Alibaba Group revealed that ecommerce can be a powerful instrument for employment for semi-skilled workers and women in developing countries and in rural areas.

The job creation figures of leading global e-commerce brands should be an encouragement for more focus and investment in this sector of the economy. America’s Amazon disclosed recently that over 200,000 small businesses on its platform have created over 1.8 million U.S jobs.

The Amazon brand alone has over 100,000 employees on its payroll. Today, China has the fastest and largest growing e-commerce market in the world, accounting for more than 40% of the total value of ecommerce transactions worldwide. Simply put, more than 5% of employment in China is in e-commerce.

One might wonder how an industry that limits human contact holds such a huge employment prospect. A local example thus suffices. Alerzo limited, a business-to-business e-commerce platform commenced operations less than three years ago. Presently, it directly employs more than 3,000 people in its chain of activities. Jumia, a b2c platform, currently has over 15,000 sellers on its platform.

If well explored, experts have projected that the electronic commerce sub-sector of the economy is capable of creating about 23 million jobs. Tech enthusiast Samuel Elegba, is of the opinion that this is achievable given the exploit of e-commerce brands in recent years. “Things have changed globally.

Technology is eroding every aspect of business. I visualise e-commerce companies becoming large employers of quality human capital in Nigeria within the next decade, and maybe the highest taxpayers if given a chance to survive by the government during their incubation period.

“Our league of e-commerce players have shown in a short period of time what they can do in terms of innovative solutions, human capacity development and employment. Cumulatively, they have created hundreds of thousands of jobs directly and indirectly,” he said.

Despite the fact that contact and face-to-face interactions are limited in the ecommerce service space, the interconnectedness of the industry requires that thousands of individuals work behind the scenes to ensure orders are processed seamlessly to customers’ preference and satisfaction.

Aside from customer service representatives who interact with customers, take orders and customer complaints,  the shipping clerks, order fillers, hand packers, packagers, keep records and ensure orders are properly packaged and in good condition for transportation.

Apart from managers who oversee the daily operations in warehouses, there are also the market research analysts who study market conditions to examine potential sales of products. Ecommerce thrives on technology, which thus provides job opportunities for young software and web engineers who create programmes and also handle online stores’ technical aspects.

Also critical in the chain are the last mile delivery agents. The immense employment and growth impact of e-commerce on logistics cannot be overemphasised.

The recent boom in logistics business in major economic cities of Nigeria is being driven by e-commerce.  A crucial point to also note in the chain is that as e-commerce firms expand their operation in major cities and rural areas, they bring with them economic opportunities for these residents of local communities.

If given more attention, support and infrastructure investment, ecommerce will not only help in development of rural communities, but immensely reduce employment deficit in Nigeria.

 


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

E-Business

Schmidt, Ex Google Chief Says AI Risky in Terrorist Hands

Published

on

Eric Schmidt, former Google CEO
Kindly share this post

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.

 

 


Kindly share this post
Continue Reading

E-Business

OpenAI CEO Rejects $97.4Bn Takeover Bid from Elon Musk

Published

on

Sam Altman, chief executive of ChatGPT-owner OpenAI
Kindly share this post

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.

 

 

 

 


Kindly share this post
Continue Reading

E-Business

Adobe Launches AI Video Tool to Compete with OpenAI

Published

on

Kindly share this post

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.

 


Kindly share this post
Continue Reading

Trending