Author: ITPulse

The financial sector’s spending on artificial intelligence is expected to hit $45.2 billion in 2024 with the figure continuing to grow by 30% per year and hit $97 billion by 2027, data presented by Stocklytics.com has revealed. While some fear AI could replace 300 million full-time jobs in the next six years, companies across sectors continue investing heavily in AI solutions to improve their business processes and customer feedback. This is because Artificial Intelligence has not only transformed how people relate to technology but also significantly impacted the business sector. One of the biggest spenders on AI technology is the…

A Research Economic Outlook Report released by FBNQuest has indicated that Nigeria’s Gross Domestic Product (GDP) will grow by 3.1% in 2024. The report noted that market yields are expected to remain high this year, despite the current economic challenges, outlining the firm’s perspective on the macroeconomy, socio-political environment, and capital market featuring views on traditional asset classes (fixed income and equities). It also includes expectations for the current year. Also, the growth is attributed to factors such as the tight monetary policy that the Central Bank of Nigeria (CBN) is expected to sustain, as well as a sizable supply…

In line with the Nigeria Data Protection Act (NDPA) 2023, the Nigeria Data Protection Commission (NDPC) has issued a guidance notice to data controllers and processors of major importance to clarify the categories of organizations that are required to register with the Commission. This decision relies on sections 5(d), 44 and 65 of the NDPA, which states that organizations that are of “particular value or significance to the economy, society or security of Nigeria” are designated by the Commission as data controllers and processors of major importance. The guidance notice dated 14th of February and signed by the Commission’s Head…

Bolt, Africa’s leading ride-hailing platform, has concluded the last and final phase of its Bolt Accelerator Program – an initiative in collaboration with The Nest Innovation Park to empower its driver community to redefine their roles as entrepreneurs and amplify economic growth prospects across Nigeria. The post-mentorship graduation ceremony was held virtually on January 19, 2024, to send forth the top 10 winners. Launched on September 19, 2023, the Bolt Accelerator Program has empowered drivers beyond conventional ride-hailing services and contributed to the economic growth of drivers in Nigeria. The initiative witnessed a myriad of applications from drivers in diverse…

By Martin Ekpeke The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu Maida has said the Commission is going to be working with its licensees on data tariff, speed and coverage to have a transparent tariff regime. “We are going to be working with our licensees to see how tariff can be simpler and more transparent,” he is quoted to have said on X (Formerly Twitter) as part of his 100 days in office. He noted that as a regulator, the Commission is going to be stepping in to see what the common issues that consumers are…

Experts at Zenshield Technology have highlighted seven of the hidden dangers of seemingly innocuous bedroom tech, even though most bedroom technology intends to enhance comfort or convenience. The experts believe that certain tech items have potentially negative health implications, even to the extent of being deadly. Here’s a comprehensive look at seven such hazardous bedroom techs: 1. Overhead Wi-Fi Routers Wi-Fi is a game-changer. But, placing routers in the bedroom, especially overhead, may trigger health issues, including insomnia, depression, and even certain cancers. Wi-Fi uses a kind of energy called electromagnetic radiation to send information. This radiation makes something called…

In today’s increasingly digital world, fraud and financial crime has become a significant concern. Global research shows that 2022 saw a 72% increase in fraudulent activity while almost a quarter of survey respondents expect a significant budget increase for anti-fraud technology through 2025. Given how generative artificial intelligence (AI) has been reshaping virtually all industry sectors, the challenge of fighting financial crime has become more complex and multifaceted.  Generative AI has been proven to be a groundbreaking technology capable of creating realistic data and media. But this means it has also opened significant new avenues for financial crimes. The increasing…

Skip the generic gifts! These Google AI tools will inspire unique presents and unforgettable experiences for your loved ones.  Valentine’s Day is one of the most daunting gift-giving holidays. You want to get something for your partner, of course, but also you like to let your friends and family (and even your dogs) know how much they’re loved. It’s a tricky holiday: The perfect Valentine’s Day gift is sentimental but not saccharine-sweet. Genuinely useful but not overly practical. It has a personal touch — but could potentially be replicated for a friend or two (or three). If you need a…

The United Kingdom has signed a landmark partnership with Nigeria that is set to boost trade and investment and build on the already £7 billion strong UK-Nigeria trading relationship, with a target to unlock new opportunities in sectors such as legal, financial services and clean energy.  The UK’s Secretary of State for Business and Trade, Se Kemi Badenoch signed the deal in Abuja, saying Nigeria is an important growth market for the UK-based financial and related professional services industry. “TheCityUK welcomes the MoU signing and looks forward to continuing engagement to increase market access and remove regulatory frictions,” she said.…

The Chief Commercial Officer, Jumia Nigeria, Ijeoma Arum has urged operators of small and medium enterprises (SMEs) in Nigeria to leverage eCommerce to boost sales and grow their business. The Jumia CCO, while making a presentation titled: ‘Growing your business’, at the maiden edition of Ecobank Nigeria’s MySME Growth Series, observed that small and medium-sized businesses in Africa are faced with challenges such as access financing, stiff competition from established brands and regulatory compliance. Thus, leveraging technology such as eCommerce has the potential to transform their businesses.  “eCommerce increases reach and awareness of products and services, allows businesses to gain…