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Home Blog Page 5699

A Nigeria’s Big Missed Opportunity Since 2013

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A key shame as Nigeria fights insecurity is that despite spending billions of naira, the nation has been unable to develop an indigenous security industry in equipment design, development and manufacturing. While the ethical dilemma remains, the fact is this: if the parliament has inserted a simple clause like “10% of this money must be spent on locally sourced equipment”, we could be on the path of building indigenous capacity in defense. 

Simply, from night vision goggles to drones to mapping systems, many defense startups would have mushroomed. Yes, if Defense HQs spent 10% of its budget on Nigerian defense startups, we would have added more than 1 million jobs since 2013!

But you know one thing? The latest request to borrow $6.18 billion should only be approved by inserting this clause: 10% of this money must be spent on indigenous products and services in any portion earmarked for security. Also, the newly planned $1.76 borrowing for security should also require 10% to be spent on indigenous products and entities.

Nigeria plans to borrow 722.53 billion naira ($1.76 billion) from domestic capital markets for additional security spending, Finance Minister Zainab Ahmed said on Wednesday.

As part of Nigeria’s security spending, the World Bank also agreed to allow the government to restructure existing loans of 39.58 billion naira to supplement the funds, she told reporters after a cabinet meeting.

The cabinet also approved an allocation of 83.56 billion naira for the purchase and deployment of 30 million doses of the Johnson & Johnson COVID-19 vaccine

Do not tell me that we do not have these products and companies. I can tell you that if Nigeria opens this playbook, some of our citizens in US, Europe, etc will relocate to build companies with their home brethren to take advantage of these opportunities. Indeed, this is an opportunity to seed a new creative sector in the nation.

Nigerian States Need To Open NEW Playbooks for Their Diasporas

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With many citizens becoming afraid to go to farms, I expect 2022 to be exceedingly challenging in Nigeria. No matter whatever they publish, I will struggle to believe any number that shows that agricultural productivity or output has gone up. So, if there is any time to plan for interventions, this moment calls for one. But instead of going for loans, state governments in Nigeria can design a playbook around their diasporas. Yes, find a framework to get those living in North America, Europe and beyond to support the state, via market systems which drive economic developments.

This is my recommendation for the states:

  • Build institutions and demonstrate probity and accountability in the state affairs.
  • Design and develop protocols to reach all Diasporas from the state. A dedicated ministry to track them from village to village, and open a roadmap to reconnect them to the state vision. 
  • Open Sam Mbakwe’s Playbook: share with them where you are going, the resources you have, and what you need from them. 
  • Provide massive incentives to shape how they allocate investment capital 
  • When they commit by supporting your government through market systems, sustain the loop, and stay accountable.

The fact is this: Nigerian states are at inflection points and they need new playbooks to unlock new vistas of growth. Looking at the paralysis at the center, they need to work harder to tap into massive knowledge and economic wealth of their diasporas.

At no time in the history of this nation has its best export become agents to drive its future. State governments should work harder to create a multiplier effect, and get some of our well positioned citizens around the world to help drive developments.

It was a very common instruction from the headmaster: tell your parents to give you money by next Monday as the governor has asked us to request for more donations. Yes, the governor of Imo State, Sam Mbakwe, has sent notes to all citizens to send him money to build an airport. Someone shared a partial list of the donors. I knew that I contributed 25 kobo. Someone commented on the post: “I contributed as well. Millions across the East contributed. School children – nursery, primary and secondary students contributed.”

In my Platform presentation, I asked this question: “How many of you will contribute money and send it to a current governor in Nigeria?” Interestingly, President Buhari found those men corrupt, as he took them out via a coup. Now, see what we have where corruption is now Article xx in the constitution!

The Role of Artificial Intelligence and Internet of Things In The Future Practice of Law

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A change is coming through Artificial Intelligence (AI) which is fast redefining and transforming the nature of almost everything around us. Also, an exciting wave of future Internet of Things (IoT) applications will  emerge which will bring to life through intuitive human to machine interactivity. Human 4.0 will allow humans to interact in real time over great distances – both with each other and with machines – and have similar sensory experiences to those that they experience locally. This will totally transform every facet of human endeavor not even the legal profession can withstand it. This paper aims to critically appraise the role of Artificial Intelligence and Internet of Things in the future practice of law. 

1.1. INTRODUCTION

Over the years, technology has revolutionized our world and daily lives by creating amazing tools and resources, putting useful information at our fingertips. A careful look at the speed of development of technology in our ecosystem and its possible impact on the future suggests how emerging technologies such as Artificial Intelligence (AI) and Internet of Things (IoT) will influence tomorrow. We believe and the trend suggests that a time will come when these technologies will become prevalent, penetrating all spheres of our society.

With the advent of Artificial Intelligence (AI) and Internet of Things (IoT), will law firms as we have known them to be still be in existence in four to five generations to come? These and many more questions are the fear that comes with AI and IoT. In this paper work, efforts will be expended by the writer in appraising the future practice of law in light of the phenomenal changes that Artificial Intelligence and the Internet of Things is already bringing to the world of legal services.

1.2. CONCEPT OF ARTIFICIAL INTELLIGENCE (AI) AND INTERNET OF THING (IOT)

Artificial intelligence (AI) is an area of computer science that emphasizes the creation of intelligent machines that work and react like humans.[i] It is a branch of computer science concerned with the simulation of the human intelligence in machines that are programmed to think like humans and mimic their actions. The term may be associated to any machines that is capable of replicating the functions of human mind such as problem solving and learning.

The ideal characteristic of artificial intelligence is its ability to rationalize and take actions that have the best chance of achieving a specific goal. A subset of artificial intelligence is machine learning, which refers to the concept that computer programs can automatically learn from and adapt to new data without being assisted by humans. Deep learning is a subset of machine learning where artificial neural networks, algorithms inspired by the human brain, learn from large amounts of data. Similar to how we learn from experience, the deep learning algorithm would perform a task repeatedly, each time tweaking it a little to improve the outcome. In 1997 The Deep Blue a chess-playing computer developed by IBM became the first computer to win both a chess game and a chess match after defeating Kasparov a reigning world champion under regular time controls.[ii]

On the other hand, Internet of Things is said to be  the interconnection of devices to the internet. The relationship will be people – people, people – things. Internet of Things makes ‘dumb’ devices ‘smarter’ by giving them the ability to send data over the internet, allowing the device to communicate with people and other Internet of Things enabled things. The concept behind IoT is “the pervasive presence around us of a variety of things or objects – such as Radio-Frequency Identification (RFID) tags, sensors, actuators, mobile  phones,  etc.  –  which  through  unique  addressing  schemes  are able  to  interact  with  each  other  and cooperate with their neighbors”[iii] The idea of a ‘smart home’ is a good example of Internet of Things in action. Internet- enabled thermostats, toasters, virtual assistant, security alarms, close- circuit televisions, etc. create a connected hub where data is shared between physical devices and users can remotely control in that hub.

1.3. LEGAL ISSUES IN ARTIFICIAL INTELLIGENCE(AI) AND INTERNET OF THINGS(IoT)

At the core of AI as a tool based on learning and adapting to new data based on an algorithm, you can’t predict everything that is going to happen giving it an inherent uncertainty (or confidence level).[iv]he legal system is based on providing certainty and guidance for individuals and companies as to prospect on how to behave in society, so the changeable nature and potential impact of AI and IoT is unsurprisingly what scares people the most. In response to changeability, numerous legal issues will need to be solved to evaluate and control the risks related to an AI and IoT solution. It is to this extent that the crucial issues to be considered for an AI and IoT environment are discussed as follows:

1.3.1. DATA PRIVACY AND PROTECTION

Over the years, there have been series of attempts to distinguish data privacy from data protection as both are often used interchangeably; but there lies a key difference between them. Simply put, data privacy is a term used to determine how data is collected and who has access to such data. While the latter data protection in simpler words can be seen as the various strategies and processes put in place to protect and secure the privacy, availability and integrity of the data collected. With access to countless number of data points, how are they protected? Can information be protected? Or is it hopeless? If your algorithm is based on confidential or sensitive information, how do you make sure that this information is useful for the product, and also protects the owners of said information? Does AI mean that privacy will be a thing of the past?[v] With innumerable IoT devices talking to each other via the internet, the potential for a data security breach is high and as more and more IoT devices are introduced in the market, this issue would only complicate further.[vi]

1.3.2. INTELLECTUAL PROPERTY RIGHTS

Another key legal issue when it comes to incorporating Artificial Intelligence (AI) and Internet of Things (IoT) in Law is Intellectual Property Rights. Intellectual property rights  are the rights given to persons over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period of time.[vii] Are the rights of people’s property such as idea or invention of their minds protected in an AI and IoT solution? How are they protected?

1.3.3. CYBER SECURITY

This is another major legal issues that must be put into consideration in an AI and IoT environment. Computer security, cybersecurity or information technology security (IT security) is the protection of computer systems and networks from information disclosure, theft of or damage to their hardware, software, or electronic data, as well as from the disruption or misdirection of the services they provide.[viii]Can computer systems and networks really be protected from information disclosure, theft or damage to their hardware in an AI and IoT environment? How is AI and IoT protecting these systems from disruption or misdirection of the services they provide?

1.3.4. PRODUCT LIABILITY

One legal issue relating to Artificial Intelligence (AI) and Internet of Things (IoT) we cannot neglect is the issue relating to product liability. Product liability refers to a manufacturer or seller being held liable for placing a defective product into the hands of a consumer.[ix]”Product liability law” is the set of legal rules concerning who is responsible for defective or dangerous products but they are different from ordinary injury law.[x] The question that comes to mind then is can a manufacturer be held liable for a defective product in the hands of a consumer under an AI and IoT environment?

1.4. HOW ARTIFICIAL INTELLIGENCE (AI) AND THE INTERNET OF THINGS (IOT) IS CHANGING THE LEGAL INDUSTRY

The widespread adoption of AI technology is set to transform the legal sector and disrupt the future of legal work.[xi]Through the use of automation, repetitive legal tasks will be carried out by AI technologies with increased speed and accuracy, allowing paralegals and lawyers to focus on cognitively challenging tasks.[xii]As a result, some job profiles within the legal sector are likely to shift away from traditional skill sets, as law firms look to recruit in-house data scientists and innovation managers to help them scan and drive technological R&D within a competitive market.[xiii] The IoT also introduces what might be termed the Internet of Law. This describes a concept where some measures of law enforcement are integrated with autonomous systems.[xiv] Connectivity to a multitude of information and data sources will provide lawyers with instant, real-time access to valuable data, supporting the ability to represent and solve clients’ issues quickly and efficiently.[xv] Automation of administration systems and tasks will also allow lawyers to spend more time on cases rather than time consuming paperwork.[xvi] We cannot stop this development process as it has become part of us, but we can try to maximize them for effective justice delivery and to better plan ahead.

1.5.CONCLUSION

The world we live in today is constantly evolving. We use AI and IoT in our respective practices. AI and IoT based tools are becoming more effective and useful in the legal industry. A few law firms are already keying into this new development process. Some law firms have already adopted AI software to predict litigation outcomes. Some others have begun to use AI-based processes to manage large sets of documents, receive contracts and automate many other legal activities. While some others also use IoT based processes to access real time valuable data and automate administration system. In tackling the legal issues in AI and IoT, as relating to data privacy and protection; using  behavioral modelling, the AI technology helps identify malware and takes automated measures to counter the impact. The technology helps augment human surveillance and enhances the security resources that help stay ahead of breaches.[xvii]  As relating to Intellectual Property Rights, for AI and IoT to fully unleash their potential to protect the rights of people’s property, it is important that they be governed by the law and in particular by IP law. As relating to cyber security AI and IoT can protect computer systems from disruption or misdirection of the services they provide through the use of computer security and information technology security to protect the systems, infrastructure and information from any cyber attack. As relating to product liability device manufacturers need to think carefully about how they market their products, frame their warranties, and craft liability provisions that are included in consumer use agreements.[xviii]The role lawyers and law firms for an efficient functioning of the modern economy cannot be underrated. The writer is of the view that it is necessary for all the law firms to welcome and embrace AI and IoT technology and tools to begin to build internal AI and IoT practices; as this new system will help to create a perfect balance between lawyers and their clients.


[i] ‘Will Artificial Intelligence have a soul in future’, Available here. Accessed on 18th June, 2021

[ii] Deep Blue (chess computer). Available here. accessed 19th, June 2021

[iii] A.Iera, C. Floerkemeier,  J. Mitsugi, and G.Morabito. The Internet of  Things. Guest Editorial.  In IEEE Wireless  Communications, Vol.17,  Issue 6, 2010.

[iv] ‘Exploring the key legal issues in AI today’, Available here . Accessed on 19th June, 2021

[v] Ibid.

[vi]  ‘Legal Issues Pertaining To Internet of Things (IoT), Available here. Accessed on 19th June, 2021

 

[vii] ‘What are Intellectual Property Rights?’, Available here . Accessed on 19th June 2021

[viii]  Schatz, Daniel; Bashroush, Rabih; Wall, Julie (2017). “Towards a More Representative Definition of Cyber Security”. Journal of Digital Forensics, Security and Law. 12 (2). ISSN 1558-7215.

 

[ix] ‘What is Product Liability?’ Available here. Accessed on 19 June, 2021

[x] Ibid.

[xi]  ‘AI can spur real change in the legal sector’ Available here. Accessed on 19th June, 2021

 

[xii] Ibid.

[xiii] Ibid.

[xiv]  ‘How the “Internet of Things” will transform the law practice’ Available here. accessed on 20th June, 2021

[xv] Ibid.

[xvi] Ibid.

[xvii] ‘How does Artificial Intelligence Help in Data Protection and HIPAA Compliance?’ Available at here.  Accessed on 22nd June, 2021

[xviii] ‘Expanding the Internet of Things: Four Key Legal Issues’ Available here. Accessed on 22nd June, 2021

Japan Pledges $10bn Financial Aid to Asia’s Energy Transition, But It Spells Doom for Nigeria

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Clean energy campaign has been getting more support from both political and business leaders since the newly elected US president Joe Biden returned the country to the Paris Climate Accord.

The US pro green leadership has been steering its allies to the path of energy transition to meet the 2050 zero-carbon emission goal. As a result, companies and countries have been working on plans to transit to cleaner energy with zeal never seen before.

Reuters reported that Japan on Monday pledged to offer $10 billion financial aid for decarbonization projects in Asia, such as renewable energy, energy-saving and conversion to gas-fired power generation from coal-fired power to help with an energy transition.

In a virtual meeting with ASEAN energy ministers, Japan’s Minister of Economy, Trade and Industry Hiroshi Kajiyama proposed various support measures for the region, including helping each country set a realistic path towards carbon neutrality and develop a roadmap to achieve it.

“We propose the Asian Energy Transition Initiative as a package of Japanese support for realistic transitions in Asia towards carbon neutrality,” Kajiyama told the meeting, in which 10 ASEAN countries participated.

The financial support, including lending and investments from the Japanese public and private sector, will target projects to help cut carbon emissions and contribute to each country’s carbon neutral target, Takeshi Soda, director for International affairs at the industry ministry, said.

These projects will include building gas-fired power stations and liquefied natural gas (LNG) receiving terminals as natural gas is considered an alternative to coal and a key transition fuel, he told Reuters by phone.

“There has been a rapid progress in divestment in fossil fuel projects in the international finance industry,” Soda said.

“But to achieve carbon neutrality in ASEAN, it is important to create a mechanism to attract investment and financing for a variety of projects and technologies that contribute to an energy transition,” he said.

While it is a good move for the environment, it spells doom for oil-dependent economies like Nigeria. Asia was the first largest destination region of crude oil in the last quarter of 2020, whose exports from Nigeria reached over 880 billion Naira, approximately 2.2 billion U.S. dollars, according to data from Statista. Although the export value of crude oil from Nigeria to Europe amounted to about 853 billion Naira, approximately $2 billion, a hastened shift to cleaner energy in Asia will hurt the chances of Nigeria’s economic recovery.

The pandemic, which crippled industrial activities globally, plummeted oil prices, shattering Nigeria’s economy and leaving its recovery mainly at the mercy of oil market rebound.

But as economies gradually open, oil prices are coming back up, keeping Nigeria’s economy chances of recovery alive. Crude oil price has gone up $74 as of Monday, its highest level since 2018. Bank of America said oil could hit $100 per barrel next year as demand outstrips supply.

These offer hope of bountiful harvest to Nigeria. But with Japan’s $10 billion pledge to hasten transition to cleaner energy in Asia, the African largest economy may be losing a regional customer base that will greatly undermine its revenue generation, and consequently hurt its chances to bounce back from economic turmoil.

Five Reasons Why Live Casinos Have Become So Popular

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iGaming is a hugely popular activity in the UK. One survey found that around 47% of British people had gambled in one form or another in the previous month. This includes sports wagering, playing the lottery and casino games. Since the advent of the internet, iGaming has become more accessible to many and therefore has increased in popularity.

Online casinos have been legal in the UK since 2005. Since that time, regular player numbers have surged from 9.7% to 17%. The UK Gambling Commission forecasts more growth for the online real-money gaming industry throughout 2021 and beyond as more people begin to see the appeal of playing games for money.

Online Vs. Brick and Mortar

There has been much debate over the past decade and a half about the benefits of playing casino games online vs. physically visiting a brick and mortar casino. There are arguments for both sides. Brick and mortar casinos represent a fun night out, have a social aspect and generate an exciting atmosphere for gamers. Online casinos are more convenient. Easier to access and available 24/7. In recent years, online operators have used technology to formulate a compromise. With live casino games, players can experience the thrill and ambience of a brick and mortar casino while playing online from the comfort of their own homes. Live casinos have become highly popular among regular players and newbies alike, offering the best of both worlds in one easy to access formula.

1: Convenience

One of the primary arguments for online casinos is convenience. Online casinos can be accessed from anywhere with an internet connection and are typically available 24 hours a day. This allows players from around the world to play whenever and wherever they like. The modern consumer loves convenience and demands access to goods and services more frequently than ever in the past. Being able to enjoy the casino experience from home appeals to the demographic that want everything right here, right now.

2: Social Interaction

One of the biggest pros for brick and mortar casinos over playing online has always been the fact that this is a more social experience than playing from home behind a screen. With live casinos, players get the best of both worlds. Live dealers and opportunities to interact in real time with other players mean that playing casino games online can now be just as much or a social interaction as visiting a physical casino. Players can not only experience the game in real time but also use chat boxes to talk to other players. Some sites even have chat rooms that players can visit to continue the conversation even when the game has been completed.

3: Increased Trust

No matter how much information we have about how algorithms work and fair play rules, it is human nature to trust another human more than we would trust a machine. With live play, each customer can see a human dealer or croupier working the table in real time. When seeing physical cards being dealt or physical dice being rolled, humans are more likely to trust that the outcome of any game they play is fair, just as in a brick and mortar casino. Most players understand that no matter whether it is a human or a machine dealing, the house always has the edge. However, being able to see what is happening and that a real person is in charge helps establish more trust in the fairness of each game.

4: Access to Bonuses

As one of the newer strings to the online casino bow, live games often attract hefty bonuses to draw in more new customers and keep regular customers coming back. Bonuses are often cited as one of the most attractive features of online casinos, with many offering welcome packages, loyalty bonuses and more to appeal to their customer base.

5: Atmosphere

Nothing quite beats the thrill of walking into a real live casino. The sounds of the coins dropping as someone wins on slots; the cheering and whooping at the craps table; the music and flashing lights everywhere. These things are all designed to create a uniquely authentic experience that is fun and exciting even when players are not winning. Live casino games come close to replicating this but with the added convenience of being able to play from home. Online players are no longer isolated and playing mainly against computers or players they cannot see and hear. With live games, it is almost like being at the table.

Mobile and 5G

As technology advances, so does accessibility to live casino games. The 5G roll-out has left many people in a position to reliably play live casino games not only from home but also from their smartphones. This means the live casino experience can literally occur anywhere, with players able to log on from the train, the queue in the coffee shop or on their break at work. The lightning fast connections and download speeds of 5G help players to feel as if they are truly at the casino, with no time lags or other faults. They also facilitate larger groups of players at each table without compromising on the quality of the live stream.

Live casino games may not be exactly the same as getting out to the local casino. However, the benefits combined with great ambience and social interactions mean live casinos will continue to increase in popularity as predicted by the Gambling Commission.

 

Links

https://burlingtongazette.ca/why-live-casino-games-have-been-such-a-big-hit-among-canadian-gamers-in-2021/

https://barronwilliams.co.uk/uncategorized/how-is-my-gambling-luck-today/

https://www.firstcomicsnews.com/whats-behind-the-increasing-popularity-of-live-casino-websites/

https://theedinburghreporter.co.uk/2021/05/trends-of-live-gambling-in-2021/

https://www.independent.com.mt/articles/2021-03-29/human/Live-casino-forecasted-to-be-50-of-gambling-by-2023-Bojoko-lifts-the-lid-on-the-popular-topic-6736232091

https://www.daijiworld.com/news/newsDisplay.aspx?newsID=695495

https://www.uktech.news/other_news/a-growing-5g-infrastructure-means-big-things-for-igaming-in-the-uk

https://london-post.co.uk/the-popularity-of-gambling-in-the-uk/

https://london-post.co.uk/the-phenomenon-of-the-popularity-of-online-casinos-in-the-uk/