On your marks, go! The Code revolution may just have started anew with multiple-cloud dimensions and innovation!
Digital transformation has propelled the shift on investment, from traditional sales to ‘everything as a service’. The year 2022 promises to devour the codes of our lives and global activities into a crystal ball of intense digital revolution. Therein lies hardcore unpredictability and immense opportunities.
The assemblages of climate change, emerging global population surge and stamped for adventure to control ‘Space’ present immeasurable challenges – inviting innovation as conqueror of the embedded opportunities.
According to Gartner’s IT spend and growth forecast in the previous years; worldwide IT spending was projected to total $3.7 trillion in 2018, an increase of 4.5 percent from 2017. The latest forecast by Gartner, Inc. indicated that “Global IT spending growth began to turn around in 2017; with continued growth expected over the next few years”.
The report observed that there would be challenging uncertainties.
However, despite this uncertainty, businesses will continue to invest in IT as they anticipate revenue growth. But their spending patterns will shift. Africa and Nigeria in particular has become a significant part of the global digital market economy; but very vulnerable due to lack of constructive and strategically promoted investments in the digital revolution.
Fast forward, the anticipated and growing multidimensional global skill crisis – otherwise known as the future-of-work – is here. It now stares us in the face.
However, the skill-as-a-service development model has laid a strong foundation for the future-of-work. This phenomenon comes with its baggage of challenges and opportunities to entrepreneurs, governments and educational institutions. And indeed, to the students who still struggle to figure out what the future labour market holds for their future and above all, what employers really want?
In pursuit of the ongoing democratization of tech-data; many powerful drivers are in the quest to gain control of the pie and are plugging full-force into digital investment ecosystem. Africa’s visionary investors in the technology innovation space are vigorously rescaling their strategies to outdo each other in the luxurious ocean of digital transformation. Without mincing words, Dr. Leo Stan Ekeh – Chairman, ZINOX Group and one of Africa’s foremost entrepreneurs and serial digital economy champions is betting the heavens that within a very short time; the whole world will be digitized – at all levels of skill, process, product, and service for sustainable development.
To occupy the pilot’s seat, he has reconfigured the digital economy investment trajectory; focusing on three critical levels targeted at Professionals, Government and Academics at home and in the Diaspora.
At a recent outing hosted by the Governor and Deputy Governor of Imo State, his home State; Dr. Leo Stan Ekeh demonstrated – beyond all reasonable doubt, that the 21st century is a knowledge economy; one that not only requires but demands a new attitude; and perspective for technology innovation but intense creativity.
To validate his conviction and recognising the global skill-crisis, he pledged a N500 million fund to establish an innovation finishing school. According to him, the knowledge platform will polish fresh graduates as well as the unemployed. Not only that, but his visionary endeavour will also provide them with world-class skills as rare commodities and global masters of future-of-work ecosystem. The insight and strategic wisdom of this mission is the Diaspora Tech-innovation flavour in collaboration with the home front – especially the youth.
‘‘In addition to the finishing school, Ekeh also gave the assurance that the proceedings of Imo State House of Assembly will be digitally upgraded. He said that this strategic intervention will enable Imo residents and members of various constituencies across the state to engage online with their elected representatives more closely and in real time.’’
This proposition is in tandem with the philosophy as well as aspirations of the new world economy which advocates inclusiveness; while also proclaiming that everything that can be digitized would be digitized as everything-as-a-service. This is against the backdrop that International Trade and Commence is now worth $1.1 trillion annually.
Africa has the pedigree to engage and benefit immensely.
The importance of this narrative questions why Nigerian and, by extension, African investors are not investing in the big-picture opportunity embedded in the knowledge digitization and the datafication of tech-innovation. Can’t they, like Leo Stan, anticipate the-future-of-things business model worth unquantifiable $ trillions between 2022 and 2030? Africa cannot afford to blindly allow the digital launch of her future to be eaten through consumerism-centric development syndrome and waiting until nothing is left on the innovation plate!
While the nation runs to pile up individual loots in Swiss Banks and investment safe havens; their global counterparts are investing and innovating the global future. Going by IDC’s projections, annual revenue from the technology industry will exceed $5.3 trillion in 2022. After the speed bump of 2020, the industry is returning to its previous growth pattern of 5%-6% growth year over year.
The United States is the largest tech market in the world, representing 33% of the total; or approximately $1.8 trillion for 2022. Dr. Leo Stan must have had an advanced peep into the crystal ball of future global technology market-economy. Therefore, going by projected assumptions, establishing the proposed blueprint can yield over $500 billion into the Nigerian Tech-innovation ecosystem. Amongst others, this validates his recent financial intervention of N50 million into the fallowing digital knowledge pot of the Nigeria Computer Society to drive digital innovation start-ups.
The assumption is that such tactical investments will general incremental yield returns; of over 900 per cent sustainable youth employment and secured IP.
Considering the enormous impact of the above strategic intervention by the ZINOX Chair – especially its Diaspora tech-collaboration model; patriotic entrepreneurs should now join forces to pull $5 billion together into the Tech-Innovation fund within 24 mounts. Actualization of the context of the STEM finishing school model has the audacity to take Africa and the world by storm; with breath-taking tech-innovation solutions.
Needless to state that the value of our IP content will be astronomically energized to accelerate the Data-democratization; creation of wealth; equitable governance; as well as thoughtful leadership, peoples’ empowerment, bold judiciary and proactive national security at all levels.