E-Business
Innovative Platforms Digital Economy in Nigeria- Obaro, SystemSpecs Boss
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2019/03/obaro-john.jpg)
John Obaro, managing director of SystemSpecs, a leading African financial and human capital technology solutions company, has said that emerging economies like Nigeria are set to witness further disruptions occasioned by more innovative digital platforms transforming various aspects of life by leveraging data.
![Innovative Platforms Digital Economy in Nigeria- Obaro, SystemSpecs Boss](https://i0.wp.com/www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2019/03/obaro-john.jpg?resize=477%2C221&ssl=1)
John Obaro, managing director of SystemSpecs
Obaro, stated this as he shared insights on “Platforms as a Driver for the Digital Economy,” at the recently concluded 2020 edition of the annual Digital PayExpo which was held virtually.
For about three decades, SystemSpecs, the owner of the Remita, Paylink and HumanManager brands, has been at the forefront of the emergence of digital economy in Nigeria.
According to Obaro, who was represented by Deremi Atanda, an executive director of the firm, the digital economy involves all economic processes, transactions and activities that are based on digital technologies.
“This modern trend is a result of billions of everyday online connections among people, businesses, devices, data and processes. It is underpinned by the spread of Information and Communication Technologies across the business sector to enhance productivity and efficiency,” Obaro said.
While analysing the evolution of the digital economy over the past three decades, the technology expert noted that data has grown exponentially but the world is still in the early days of the data-driven economy.
Availability of platforms have made it easy for interactions that drive technological innovation to occur, leading to more disruptions and rapid growth of enterprise across various sectors of the economy.
Some of the key drivers for the advent and impact of platforms include innovation, expanding market, disruptive technology, and the rapid growth of aggregated data.
Furthermore, he listed some examples of indigenous innovative digital platforms, including IrokoTV, which gives access to online streaming of Nollywood movies; OkadaBooks, which has made books accessible to millions in sub-Saharan Africa through mobile technology; and Remita, a payment facilitator that processes over $6 billion worth of transactions monthly for integrators, businesses, governments, SMEs and individuals in Africa.
Obaro believes the digital economy will lead to more disruptions in emerging economies like Nigeria, as more innovative digital platforms are developed in healthcare, fashion, financial services and other industries.
Other speakers at the conference include: Dr. Ali Ibrahim Isa Pantami, minister of Communication and the Digital Economy; Dr. Andrew Nevin, advisory partner and chief economist at PwC; Iyin Aboyeji, founder and general partner of Future Africa (Nigeria), among others.
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
![](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
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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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