You are going to see a lot of investments in the digital space, including AI: “Softbank, fresh off its successful listing of chip designer Arm, is now considering investing tens of billions of dollars into AI, either into ChatGPT developer OpenAI or one of its competitors. Arm’s IPO—the largest since Rivian’s debut in 2021—may have expanded Softbank’s war chest to as much as $65 billion, analysts say. Softbank CEO Masayoshi Son is bullish on AI, calling himself a “heavy user” of ChatGPT and saying he talks with OpenAI CEO Sam Altman almost every day. Financial Times.” (Fortune newsletter)
Over the next few years, technology systems will transform markets and economies. And one thing we are largely sure of is this: more businesses will go digital, and online will be the main domain where companies will capture more value. You can sell an iPhone but most likely the digital services will deliver better gross margin.
You may be a retailer, but what you do in the online sphere of your business may decide your competitiveness. You may be a bank with many branches but the playbook on your apps will anchor your sustainability. Of course that TV station needs a solid online presence to thrive.
Simply, it is time to think ONLINE because that is the future. While in places like Nigeria, the money remains in the physical space, yet daily, everything is going digital (and online). The largest financial institution in West Africa is an online-based business. The largest logistics firm in the region has a clear digital-anchored operational nativity.
The best farming entities in Africa will not just be doing the typical business of farming, but will be in the game of accelerating value capture via online services. Think digital. Think online. And update your business model because working harder is not enough. If you work harder on an expired business model, you will still struggle. #rethink the future.