Thursday, November 23, 2017 4.00pm
/ Proshare WebTV
A strategic public-private partnership
focused on machine learning in Nigeria, is vital to repositioning the country
as a key player in the fourth industrial revolution era driven by digital
Mr Bayo Adekanmbi the Chief Transformation
Officer of leading telecommunications company in Nigeria, shared this as the
keynote speaker at the Nigeria-South Africa Chamber of Commerce November
breakfast meeting in Lagos.
Focusing on the theme “The Data Mindset:
Inspiring Growth and Development Across Sectors”, Adekanmbi asserted that
Nigeria had the potentials to leapfrog in a hi-tech driven age, if there is a
government-led and private-sector driven approach to machine learning, which is
the centrepiece of the developments that will shape the economy utilizing Data.
He noted that Data was the new oil and the
21st century economics which is more knowledge based, will be
anchored by Data. The MTN CTO also identified the “Internet of Things”(IOT) as
a strategic enabler that will change the landscape of the services industry.
According to him “Data
in the 21st century is like oil in the 18th century: an immensely, untapped
valuable asset Like oil, for those who see data’s fundamental value and learn
to extract and use it there will be huge rewards. We need to turn our data
infrastructure from a cost-center to a profit-center”
Speaking further he said
Data is the engine of Transformation, with remarkable innovations in “Big Data”
and “Analytics”. Big Data is the ubiqitous networks and device
proliferation enable access to a massive and growing amount of traditionally
Adekanmbi also believed
that Analytics and Business Intelligence tools were critical in driving a data
divn for him was another critical aspect for achieving an effective data driven
solution, which will empower decision makers as never before by extracting and
presenting meaningful information in real-time, helping people to be more
proactive than reactive.
The MTN Executive said
the “Global Market Analysis is valued at about $150bl, with India taking 12% of
the market share”, stating that Nigeria could derive value from it if it
invests significantly in Analytics.
Intelligence, Adekanmbi informed stakeholders that it is one phenomenon to
watch in the fourth industrial revolution, as systems are trained to recognize
Mr Bayo Adekanmbi also
leads a non-profit initiative Data Science Nigeria, and is spurred on by
a compelling drive to raise a new generation of world-class data scientists and
knowledge entrepreneurs who will set up data science-based businesses and
attract foreign exchange to Nigeria.