E-Business

The Onslaught of Artificial Intelligence (AI) part 2

Published

3 years ago

January 31, 2023

Chike Onwuegbuchi

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By Evans Woherem, Ph.D

The advancement of AGI has ethical and societal implications, as it may alter our interactions with technology and our understanding of intelligence. For example, in the 1980s, Professor Weizenbaum created an AI-based system called ELIZA, which mimics a Rogerian Therapist and was one of the first natural language processing programs.

His system showed the shallowness of human-computer interaction and the risks associated with an overreliance on AI technologies. He was astonished to discover that his secretary had an emotional connection to the system, while using it, as if it were human, despite knowing that he wrote the code for it.

Weizenbaum used this experience to openly criticize the field of AI after he realized that people might treat AI systems like they were people. He argued that the hype surrounding the technology was unjustified and that it was unlikely that machines would ever be able to fully understand human thoughts or emotions.

Weizenbaum’s viewpoint on AI raises the question of whether or not AGI is truly possible and whether or not the concept of AGI is well-defined. It also emphasizes the importance of being realistic about what AI can or cannot do and avoiding overhyping the technology.

It is important to note that the field of AI has evolved significantly since Weizenbaum’s criticism, and some researchers have developed new methods, techniques, and theories that address some of AI’s limitations, such as Symbolic AI, Connectionist AI, and Hybrid AI.

Some AI researchers are working on developing AI systems capable of demonstrating human-like intelligence and consciousness, such as creating AI systems capable of passing the Turing or Chinese Room tests.

It is crucial to remember that Weizenbaum’s worries about AI remain valid today, and the discipline of AI continues to raise ethical and societal implications. As AI systems advance and become more capable, it is critical to consider the implications of their development and application.

For example, as AGI systems become competent at performing tasks previously thought to be unique to humans, it raises concerns about the future of work and the role of AI in society.

Furthermore, as AI systems improve their ability to understand and interpret human behaviour, issues about privacy, autonomy, and the possibility of AI being used negatively by individuals or society as a whole arise.

In light of these concerns, AI researchers and developers must think about the moral and societal implications of their work and develop AI systems that are open, auditable, accountable, and consistent with human values. Furthermore, society as a whole must engage in informed discussions about the future of AI and its potential impacts on our lives.

This includes involving stakeholders from diverse backgrounds and perspectives, such as ethicists, philosophers, sociologists, policymakers, and members of the public, in the development and governance of AI systems.

Additionally, there should be ongoing efforts to ensure that AI systems are developed and used responsibly and ethically, with measures in place to prevent unintended consequences and negative impacts on society.

Divergent Viewpoints on the Prospects of AGI Morphing into ASI

While some researchers believe that AGI is possible, others think that it’s unlikely and that the concept of AGI is not well defined. The debate over whether AGIs will eventually “morph” into ASIs is divisive among AI researchers and experts for different reasons.

One argument in favour of this viewpoint is that, due to advances in technology and machine learning, AGIs will continue to develop quickly and may one day outperform human intellect in several fields. This means that AGIs will continually grow exponentially over time and eventually transform into ASIs.

However, since there are still many unresolved issues and unknowns surrounding AGI and ASI, many researchers are less optimistic about the timeline for their development. In addition, some specialists believe that the term “superintelligence” is ill-defined and too ambiguous, making it difficult to say whether or when AGIs will develop to that level.

Despite the difficulties, many researchers are still working on developing AGI and ASI because they think the potential advantages outweigh the risks. Improvements in decision-making, increased output, and the ability to solve problems that are currently insurmountable for humans are potential benefits.

However, to benefit from these advantages, the risks associated with AGI and ASI must be decreased by implementing the proper safety measures. In addition to addressing moral and ethical dilemmas, this requires developing strategies for monitoring and controlling AGI behaviour.

As pointed out earlier, majority of AI systems in use today are referred to as “Narrow AIs” because they are designed to carry out specific tasks.

Examples of these types of AI include IBM’s Watson and DeepBlue, Expert Systems, and AlphaGo, all of which exhibit intelligent behaviour within a specific domain, but do not possess the general intelligence that humans have. Some of these systems may have high levels of proficiency or intelligence in their specific areas, but they do not have the broad intelligence that humans possess.

It is important to note that this is often a starting point in the progress towards creating a general AI. Some researchers typically begin by developing AI systems that are particularly skilled in one area and then use the insights and knowledge gained from these systems to advance the development of more general AI systems. Organizations such as the AGI Society, Berkeley Artificial Intelligence Research, CSAIL at MIT, Facebook AI Research, Google DeepMind, and the Human-Level Artificial Intelligence (HLAI) Conference demonstrate that there is ongoing work in the field of AGI and that many experts are working to create more general AI systems.

I am among those who are nervous about the unleashing of AGI systems in our society. I therefore believe that when designing and implementing AGI, it is critical to proceed with caution and care.

Technologies are amoral; they can be used for good, such as increased efficiency and productivity in various industries, but they can also pose risks, such as job displacement, security threats, and ethical concerns, depending on the motivations of those who create them.

Before proceeding with AGI development and implementation, it is critical to consider the potential risks and benefits, as well as the consequences of AGI morphing into ASI and the impact they could have on human jobs and sense of uniqueness in the world.

Even though we still do not have AGIs today, Ray Kurzweil, among other AI experts, predicts that AGIs will be developed by 2045, citing the Law of Accelerating Returns, which deduces that the rate of technological growth is exponential.

It is crucial to keep in mind that these projections are based on current trends and advancements in the field of AI and that developing AGI is a complex and ongoing process that might not occur in a specific order.

It is also worth noting that AGI does not necessarily imply replicating all human capabilities; rather, it could refer to systems that are advanced enough that humans perceive them as AGI, but the consequences of having such systems are unknown.

It could be compared to opening a Pandora’s Box or attempting to construct a new Tower of Babel, with unknown and potentially negative consequences for humanity and the world. I believe in the long run, the net effect will be negative, perhaps even catastrophic, for our earth, unless we do something to regulate them appropriately.

Implications of AI

Humans have been attempting to increase the forms, types, places, and reach of communication, resulting in the emergence of many forms of communication, including written language, oral language, sign language, and more recently, digital communication.

For example, through the use of books, letters, and other written documents, written language has made it possible for humans to communicate over great distances and long periods. The printing press facilitated written communication after the fifteenth century. The telephone and telegraph enabled long-distance communication in the nineteenth century.

The development of radio, television and the internet has significantly expanded the reach and extensibility of communication and information during the 20th century. Communication with anyone at any time is now possible thanks to the internet and mobile technology. Social networking and instant messaging are new forms of communication as well.

Most machines developed during the agrarian, industrial, and post-industrial eras have ended up deskilling and displacing humans from their traditional vocations, whether in crafts, blue-collar, or clerical work.

However, they have also increased production and opened up new areas of labour for individuals who were displaced. As a result, there have been more employment increases than job losses overall. Many of stakeholders believe that this will always be the case, even for artificial intelligence systems.

However, AI can replace not only monotonous administrative and physical tasks, but also virtually every other job, including those of artists, programmers, teachers, doctors, researchers, lawyers, accountants, and managers—indeed, everyone’s work. Managers have believed that having 1,000 employees will cause 1,000 headaches for them since the beginning of time. So, they will employ whatever machines or methods that allow them to eliminate numerous workers.

However, it is important to note that the impact of AI on the workforce will likely be more complex than simply replacing jobs. AI has the potential to improve human capabilities, produce more work, and create new jobs. Additionally, the rate at which AI will impact different industries and job types will vary, and some jobs may be more resilient to automation than others. It is also important to consider the ethical and societal implications of AI and its impact on the workforce.

For example, there may be concerns about income inequality and the displacement of certain groups of workers. It is crucial for policymakers and industry leaders to carefully consider these issues and develop strategies to mitigate negative impacts while harnessing the potential benefits of AI. Moreover, there is a need to think about retraining programs, education and upskilling of the workforce, and to ensure that the benefits of AI are shared equitably across society.

Continues in part 3…..

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E-Business

Kaspersky Report Shows Early 2026 Witnessed an Increase in Cyberattacks on the Manufacturing Sector

Published

10 hours ago

June 10, 2026

Chike Onwuegbuchi

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According to a new Kaspersky ICS CERT report, in Q1 2026 the percentage of industrial control systems (ICS) on which malicious objects were blocked reached 19.6% globally. Kaspersky security solutions blocked malware from 10,052 different malware families of various categories on industrial automation systems.

Regionally, the share of ICS computers that were attacked ranged from 27.4% in Africa to 9.1% in Northern Europe. Compared to the previous quarter, attacks on the manufacturing sector in Q1 increased in multiple regions, including in Europe and Asia.

Regional split

In terms of overall numbers across all industry sectors, five regions saw an increase in the share of attacked ICS computers in Q1 2026 compared to the previous quarter. These were Southern Europe, Russia, Northern Europe, Canada and Africa.

Industries

In Q1, biometric systems traditionally placed first in terms of the share of ICS computers on which malicious objects were blocked, at 26.4%. These systems commonly have Internet access, are used for email, and, in many cases, have minimal cybersecurity controls within the organisations that use these systems.

Regionally, Southern Europe leads the ranking based on the percentage figures for biometric systems, at 35.15%. Africa follows at 29.58%, and Central Asia comes in third at 28.53%.

In the manufacturing industry, Southeast Asia ranks first among regions in terms of the percentage of ICS computers attacked (23.21%), followed by Africa (21.36%) and South Asia (20.13%).

In 2025, Kaspersky and VDC Research estimated that in just the first three quarters of 2025 cyberattacks on manufacturing organisations via ransomware could have generated over $18 billion globally in losses. Actual business losses could have been even higher when factoring in supply-chain disruptions, reputational damage, and recovery expenses.

“Legacy operational technology systems remain deeply embedded in manufacturing environments, which makes them vulnerable. Supply chain complexity and branching of the trusted partner network expands the attack surface beyond the network perimeter.

Attackers are realising that targeting OT assets of an industrial enterprise is not rocket science, which is why factory shutdowns bring massive financial losses,” commented Evgeny Goncharov, Head of Kaspersky ICS CERT.

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NDPC, Meta Launch 2-Year M-SIDP after Regulatory Settlement

Published

1 day ago

June 9, 2026

Ebere Melum-Nwogbo

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Nigeria Data Protection Commission (NDPC) has launched the Meta-Supported Initiatives for Data Protection (M-SIDP), a strategic programme aimed at strengthening data privacy awareness, regulatory compliance and institutional capacity across Nigeria’s digital ecosystem.

NDPC, Meta Launch 2-Year M-SIDP after Regulatory Settlement

The initiative follows the conclusion of regulatory proceedings involving Meta Platforms Inc., the parent company of Facebook, Instagram and WhatsApp, over concerns relating to the processing of personal data belonging to Nigerian users. The matter was resolved in 2025 through a court-approved settlement.

Under the agreement, Meta committed to supporting a two-year programme of public-facing data protection measures designed to advance the objectives of the Nigeria Data Protection Act (NDP Act) 2023, the General Application and Implementation Directive (GAID), and the NDPC Strategic Roadmap and Action Plan (SRAP) 2023–2027.

Announcing the initiative, the Commission said the programme would strengthen safeguards for data subjects while promoting responsible data processing practices among organisations operating in Nigeria.

According to a statement signed by Itunu Dosekun, head of the NDPC Media Unit, the programme will focus on governance, research and development, safety and sustainability mechanisms for technology ecosystems, capacity building for Data Protection Officers (DPOs) and Data Protection Compliance Organisations (DPCOs), as well as public awareness campaigns targeted at vulnerable groups.

The Commission stated, “As part of the settlement, Meta committed to supporting a two-year programme of public-facing data protection measures that aligns with the objectives of the Nigeria Data Protection Act, 2023 (NDP Act), the NDP Act General Application and Implementation Directive (GAID) and the NDPC Strategic Roadmap and Action Plan (SRAP) 2023–2027.”

The NDPC stressed that the settlement does not limit its regulatory authority.

“Nothing in this settlement limits the Commission’s independent statutory powers as we continue to exercise our regulatory mandate in relation to data processing activities in Nigeria, in accordance with the NDP Act and other applicable laws,” it stated.

The development comes amid rising global scrutiny of technology companies over data privacy practices, with regulators in regions including the European Union and the United States tightening enforcement against breaches and non-compliance.

Nigeria has also intensified efforts to strengthen its privacy framework following the enactment of the Nigeria Data Protection Act in 2023, which established the NDPC as an independent regulator empowered to monitor compliance, investigate violations and impose sanctions.

Industry experts warn that increasing digital adoption across banking, telecommunications, e-commerce, healthcare and public services has heightened risks of identity theft, cybercrime and unauthorised data sharing.

The NDPC has in recent years stepped up enforcement actions against organisations that violate data protection rules, while also expanding accreditation for Data Protection Compliance Organisations and training for privacy professionals.

The Meta-supported initiative is expected to address gaps in public awareness and technical capacity, while also supporting research and policy development on emerging issues such as artificial intelligence, cross-border data transfers and platform governance.

The Commission said it would provide periodic updates on the implementation of the programme and called on stakeholders to support efforts to build a secure, transparent and accountable privacy ecosystem in Nigeria.

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Monnify Processed ₦25 Trillion Worth of Transactions in 2025, Stepping into the Spotlight

Published

1 day ago

June 9, 2026

Chike Onwuegbuchi

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When you make a payment online in Nigeria and it goes through smoothly, no failed transaction, no delayed confirmation, no debit without value, there is a good chance Monnify is involved.

Most users don’t pay attention to what goes on in the backend but for businesses, especially those processing payments at scale, that layer matters. It is what ensures collections are successful, transactions are properly reconciled, and money moves when it should.

In 2025, Monnify processed ₦25 trillion in transactions, about $18 billion, representing a 38 percent increase from 2023. This growth came during a period when Nigerian businesses were dealing with currency volatility, rising costs, and increasing pressure on infrastructure to perform consistently.

Monnify did not just handle that demand, it grew within it. It became more relied on when reliability mattered most.

Monnify sits within TeamApt, the technology infrastructure arm of Moniepoint Inc. While Moniepoint MFB is the consumer and business banking face that millions of Nigerians interact with daily, TeamApt is the engine underneath, and Monnify is its payment gateway service built for businesses that need to collect and disburse money at scale.

Its customer base reflects the breadth of Nigeria’s digital economy. On the fintech side, companies like PiggyVest, Cowrywise, Bamboo, Rise, and Nomba are part of the platform’s ecosystem. In commerce and distribution, players such as OmniRetail and Olam also integrate with it, alongside transport companies like GIGM, mobility platforms like MAX, and organisations across education, cooperatives, utilities, and government.

Today, more than 100,000 merchants use Monnify, supported by integrations across 27 Nigerian banks.

Part of what differentiates the platform is its licensing structure. TeamApt holds a switching licence from the Central Bank of Nigeria, while Monnify operates with a Payment Solution Service Provider licence. This allows it to connect directly to key parts of the financial system without relying heavily on intermediaries.

The result is better control over transactions, faster settlements, and stronger success rates.

The early bet that paid off

In 2019, Monnify introduced virtual accounts into Nigeria’s payments ecosystem. At the time, the concept was not widely adopted. Today, it is standard.

Virtual accounts allow businesses to assign unique account numbers to customers or transactions, making it easier to track payments automatically without manual reconciliation. For fintechs handling thousands of inflows daily, or cooperatives collecting dues across multiple locations, this removed a major operational burden.

What now feels like a basic feature required early conviction. Monnify built the infrastructure, demonstrated its value, and adoption followed as more businesses began to prioritise automation and scale.

What drove its ₦25 trillion year

According to Damilare Ogunnaike – VP, Monnify Payment Gateway, “Scale in payments is not only about acquiring customers. It is about retaining them through consistent performance.

For many businesses, reliability is the deciding factor when choosing a payment partner. Transactions need to go through, confirmations need to be immediate, and systems need to hold up during peak periods.

Monnify has focused heavily on this layer. Internal testing has recorded settlement times as fast as three seconds on select bank routes. The platform has also invested in handling higher transaction volumes without a drop in success rates during peak cycles such as month-end collections and high-traffic events. These are the moments where payment systems are most likely to fail, and where businesses are most sensitive to performance.

Pricing has also played a role. For companies processing large volumes of transactions, costs scale quickly. Monnify’s pricing structure has made it a commercially viable option for both growing startups and established platforms, reinforcing its position as a long-term partner.

That combination of consistent performance and cost efficiency is what drives volume at scale, and it is a key reason Monnify was able to process ₦25 trillion in transactions in 2025.

From one-off payments to predictable revenue

In 2025, Monnify expanded into direct debit, moving beyond one-time collections into automated, recurring payments. For businesses such as lenders, utilities, subscription platforms, and educational institutions, this is critical. Predictable collections translate directly into predictable revenue.

The opportunity is still largely untapped. Direct debit currently accounts for just 0.44 percent of Nigeria’s total payment volume and Monnify is positioning itself to change that.

Its recent partnerships point to where this could have the most impact. With Baobab Renewable Energy, it supports collections across distributed clean energy networks operating in multiple states.

With Awabah, a platform focused on pension adoption among informal sector workers, Monnify enables automated contributions for users who have historically operated outside formal savings systems.

These use cases highlight a broader shift from simple transactions to financial infrastructure that supports long-term participation in the economy.

Stepping into the spotlight

For years, Monnify has built its reputation within developer and business circles, powering payments for companies rather than interacting directly with end users. That is beginning to change.

With products like direct debit, the platform is moving closer to the end customer experience. As more businesses adopt automated collections, Monnify’s infrastructure will increasingly shape how individuals pay for services, manage subscriptions, and participate in financial systems without necessarily knowing it.

At the same time, the company is pushing to deepen its reach across industries, with a focus on onboarding more businesses and expanding use cases for its payment rails. The ambition is not just to support transactions, but to become a more embedded layer across how money moves within the economy.

The recent launch of its new website reflects this shift. Clearer positioning, improved documentation, and a more defined product narrative signal a company that is no longer operating only in the background, but is becoming more deliberate about how it is seen and understood.

₦25 trillion in transactions is a milestone built largely behind the scenes. How that scales as Monnify steps into the spotlight is worth looking forward to.

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