Before 2021, there were projections that Nigerian economy would record different growth rates. For the year 2021, projections have also been made about the economy. In all, positive and negative projections were made, indicating that perfect growth should not be expected. If positive growth would occur, the place of information and communication technology has been stressed. A recent study by the BusinessDay Research and Intelligence Unit, and elev8 indicates that country’s economy would grow by $8.79 billion in the next three years to 2023, driven largely by the ICT, agriculture, health, finance and insurance sectors.
By 2022, a year before the attainment of the projected growth, 50% of global companies would decrease the number of their staff, while in 2030, robots would replace 800 million workers across the world, according a recent report. We have seen how Bloomberg and Viacom, the US media conglomerate, have used artificial intelligence and still using the technology for news production and publication. Bloomberg is dissecting financial reports and creating news stories using AI. AI is helping Viacom to know what exact information consumers want and assist advertisers in placing targeted advertisements.
In Nigeria, there are indications that AI driven media outlets would emerge by 2030. Already, the federal government has intensified its efforts towards institutionalisation of digital economy with the creation of ‘digital economy’ window within the Ministry of Communications.
Tekedia Mini-MBA edition 14 (June 3 – Sept 2, 2024) begins registrations; get massive discounts with early registration here.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
Data Science Nigeria, Robotics and Artificial Intelligence Center in Abuja and Robotics and Artificial Intelligence Nigeria in Ibadan are supply-side actors that would induce AI driven media organisations. These centers are expected to impart significant artificial intelligence and machine learning knowledge and skills on a number of youths and adults.
Robots that will autonomously detect events that are newsworthy, write stories, edit and publish them are expected to emerge from these centers and others by 2023. During this year, the majority of the robots would be at the testing stage and expected to be at an advanced stage in 2026, after elimination of critical issues. By 2030, some of the established news media organisations and emerging ones would embrace robots with the intent of joining best global practices.