E-Business
Smart way to the market for Informal Retailers
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2022/03/Alerzo-retailer.jpg)
It’s the digital age and a smart world. Easier ways of doing things emerge on a daily basis; thanks to technology. A lot can now be done without the need for physical presence or contact. Several business deals are being sealed virtually. Customers make purchases from anywhere and get items delivered wherever it’s needed.
Likewise, technology is making business easier for retailers in the informal sector. Without leaving the shop, retailers now restock as simple as pressing some buttons on their phones. Here are five smart benefits for informal retailers through e-commerce:
Better bargain: Prices of goods in the market are rarely stable. In most cases, it’s sharp rise in prices of goods which tends to affect retailers’ inventory, by reducing the quantity of goods that can be acquired.
Creating a network of manufacturers and distributors, B2B online platforms shield retailers from unstable prices. Further adding to the appeal, it has improved informal retailers’ access to a wider range of products to meet their customers’ needs.
Reliable delivery network : While retailers go through a lot in the process of transporting goods from the market, ordering online leaves the delivery in the hands of experts. B2B e-commerce platforms have a logistics network that makes good delivery seamless for retailers.
Ease and convenience: Going to the market is a major stressor for informal retailers. A typical market day is full of uncertainties. “Before I started ordering my goods online, going to the market was stressful and time consuming.
“As a result, I would always lose some potential customers while I was at the market. Alerzo has further improved my business by giving me a stress-free, safe and quick delivery on all my orders,” said Mrs. Dasola Eleshinmeta, owner of DASOLA STORE, Molete Ibadan.
Profit increase: Research has shown that the average informal retailer spends at least N1,000 transport fare on every trip to and from the market. For a retailer who stocks up 3 times in a week, they end up spending N3,000 every week, with an annual expense total of around N144,000.
Added to the expense of transportation is the fee paid to market authorities. If the same retailer spends N500 on this fee each time she goes to the market, she will spend N72,000 per year.
This means that each year, she spends at least N216,000 on trips to restock her inventory, this takes out a huge proportion of their profit margins. Restocking online this helps retailers to save cost and increase profit margin.
No out of stocks (OOS): One of the ways retailers build good customer relationships is by always being a reliable stop shop. Like “if she doesn’t have it, then there’s real scarcity.” Such testimonials are what give retailers a lifesaver status. Ordering for inventory online frees up time and enough window for planning against stock-outs.
Overall, B2B online platforms provide easier and safer restocking options for retailers. The beauty of it is that it’s all available at their fingertips.
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.
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