General News
No Jobs? Well The Machines Are Taking Them!
Welcome to 2014. While many of us in developing nations are embroiled in trivial and non sequitur ethnic, religious and political/governance battles, there is a new and most powerful ‘race’ that is slowly but steadily conquering the world and promising to deprive us of what we yet have today, and the job security we aspire for.
Knowing that most criminality and terror is rooted in competition for opportunity, land and the pursuit of happiness, I dare say we are lucky… that we have not yet been allowed to advance, thanks to our frictions, and as such do not yet critically experience this most serious and unavoidable new competitive threat to humanity.
We can barely cope with human-human competition, talk less the machine revolution.
The job loss in America, as much as it is blamed on simple and rather comforting explanations like, increased global competitiveness, exporting jobs, inept administrative policies and the like; is highly attributable to this new ‘race’ of monsters.
It is the machines; the blessing of advancing technology, creating a race of gadgets that are surely and steadily replacing jobs, primarily in the ‘developed’ world and eventually everywhere.
This December, the CEO of Amazon, the world’s biggest online store, Jeff Bezos revealed the companies “Prime Air” drone project which intends to deliver light weight packages to customers within 30 minutes of clicking ‘buy now.’ 80% of Amazon orders are lightweight; this translates to almost 80% replacement of human low skill deliveryman labor.
UPS, the world’s largest package delivery company is also researching the utility of drone technology to deliver packages. All these are in the test phase and are expected to fully roll out within the next 4 years.
Already in the biggest stores like Wal-Mart, machines have been replacing most human checkout kiosks/tills. And the thing about these automatic checkout points is their humanness.
They, unlike simple computers of the past, interact in conversation style with the customer. The machines say, ‘welcome,’ ‘please scan your item;’ ‘please put it in the bag.’ And wish you off with a friendly bye-bye, ‘thanks for shopping with us.’
By the end of 2014, there will be 430,000 self-checkout points in Wal-Mart stores around the United States. That is almost half a million jobs lost in the US. It takes only one attendant to supervise up to six checkout lanes.
The same trend has been occurring in BJ’s, CVS, M&S and practically all major retail stores worldwide.
This equals millions of every day staff who are being laid off by a better ‘race,’ the race of machines. US president Barack Obama can simply not catch-up with this rate of job replacement by machines that are cheap to operate, do not require health-care, do not complain, are always punctual and are purchased only once for a fraction of the yearly wage of a human, and work continuously, no pain, no lunch-break, no monthly cycle, no pregnancy, no picking-up kids, no leave; requiring only occasional visits by technicians.
But it gets even worse—for us mortals, that is.
It’s not only low skill labor that is at risk of replacement by machines, but practically all types of professions, bar none.
Our years of interactions through machines, like the computer-internet, our cell phones, and all other devices, has provided an invaluable pool of information about human interaction that is being mined and researched on by Google, faceBook and other central corporations.
Do not think you are so unique, or your reasoning is peculiar to human beings and not replaceable with machines.
Ever spoke to an automated machine on the phone before? Think about how these have advanced over the years, also reducing several phone desk staff with single automated responders which interact with you and try their best to resolve your problem before finally transferring you to a live agent.
As time goes on, these automatic telephone responders are being developed to handle more and more in conversation style with customers.
I must interject, at this time, that the only thing we (man) have up on machines is a soul. But that’s a whole other conversation.
Google CEO Eric Schmidt is excited about the possibilities and what he is achieving with quantum computing. He is on a mission to develop technologies to replace virtually all human endeavors. He projects practically all careers will be replaceable in 4-9 years.
It’s rather quite simple. Introduce a quantum calculating computer to a physician setting. First load it with all the medical text book information; then allow it to digest 1,000,000 typical doctor patient interactions, with questions and doctor prescriptions.
The result will be a computer that can replace a physician.
You think this is extreme? Well, it has already been developed. Did you watch the Jeopardy-bot, IBM’s Watson, “cognitive computer,” which was able to defeat the world’s smartest competitor in the tough verbal question show? Indiana University researchers demonstrated that a new computer program was 42% better than doctors at both diagnosing and treating health conditions.
And the machines ‘charge’ one third what human doctors charge for the same service. Start thinking of the “Doctor App” on your Android or iPhone soon, which will replace 90% of clinic visits.
We are talking about AI (Artificial Intelligence); which is in its final stages of development. These AI machines can replace almost every job.
Computers that can think, and perhaps think better than you, in addition to having a 1000xs better retentive memory capacity.
Today these machines are being introduced not yet to replace doctors, but to complement them and reduce their work load.
The Robo-Doctor kiosk which has been introduced at Wal-Mart locations in America is a health-care screening machine which interacts with patients and asks relevant questions, gathering standard health-care information that physicians, nurses or other health-care staff usually retrieve, including height and vision tests and then giving basic health-care advice and recommending specialist care. It starts with these, and then with the rate of advancement of technology, before we know it, thousands of health-care professional jobs will be replaced.
And if medical jobs are at risk, then what field is safe? Engineering? AI’s can produce hundreds of technical designs and fixes per second.
It will all depend on the software and upgrades you can afford to purchase from AI developers like Google; developed thanks to the invaluable information our simple interactions on the internet, like ‘liking’ beautiful buildings, cars and clothes, to engineers actual designs uploaded into computer clouds, provide.
And they make sense. Why hire six Engineers, when you can hire two and purchase an AI that churns out 100s of models per minute?
The challenge of the machines is extremely wide. You only have to imagine and do a quick search to see what field still promises job security.
Bank tellers have been replaced with automated cash machines. Mechanized farming allows 4 farmers to replace 400.
Even Taxi drivers and chauffeur services are not safe as driver-less cars are in full development and being tested by major companies.
What of our emotional engagements? When you send a text to a loved one, what is your guarantee that the response you got from their phone was thought of and sent by them?
What if and when our phones have software that recognizes our patterns and can be put on autopilot when we sleep for instance or are busy, to respond with our usual chat pattern with old and new acquaintances, possibly screening them for us and only forwarding those that they ‘think’ might strike our interest or have emergency needs, to us to continue the chat?
The world is changing. In Africa, things may not yet have developed or advanced to this level, but we do share the risks and need to take advantage of the opportunities.
At this time, where we do not face such job replacement by computers, African nations should have a job boom.
Rather there already is a critical shortage, with great percentages of our youth, unemployed, while technology for chaos is advancing likewise and readily available.
This is a serious problem that must be critically analyzed, because when the machine ‘race’ joins our present bloody competition and erodes more jobs in Africa as it has already in much of Europe, what will be the outcome in terms of jobless terror?
For those of us who work or seek careers abroad, one must consider long-term job security when selecting a profession. You just cannot go wrong with computers and entertainment. Unfortunately I can’t say the same for marketing, manufacturing, and even professional careers like medicine, law and engineering. In your career field, you want to make yourself indispensable. Someone, a researcher or computer skilled programmer/developer who will still be employed till the tail end of the machine race replacement era.
Google’s Eric Schmidt in a recent Zeitgeist meeting excitedly described social robots in the development phase.
Robots he is anxious to send in his stead to public functions (in the “dangerous night”), that will be able to interact; smile, talk and think just like him, and then come home to plug into a system and upload their engagements of the night for his perusal the next day.
These changes are projected in the next four years. There are so many things to think about.
Dr. Peregrino Brimah
http://ENDS.ng [Every Nigerian Do Something]
Email: [email protected] Twitter: @EveryNigerian
MTN Nigeria, in partnership with Pan-Atlantic University (PAU), marked a significant milestone in advancing Africa’s media landscape with the graduation of 20 Fellows from the MTN Media Innovation Programme (MIP) Cohort 4 held at the Lagos Business School.
MTN
The ceremony celebrated excellence, resilience and forward-thinking storytelling, while also announcing the programme’s expansion into a Pan-African edition beginning next year.
The six-month programme, known for its rigorous coursework, demanding schedule and strong emphasis on critical thinking, included an international study visit to South Africa that broadened participants’ understanding of media innovation across the continent.
The graduation event acknowledged the Fellows’ commitment to completing the intensive journey while strengthening their capacity to influence the future of African media.
Dr. Ikechukwu Obiaya, Dean of the School of Media and Communications, PAU, commended the Fellows for their persistence throughout the programme. “In some moments, it was pretty grueling for some of you, but you made it. You are here, and I congratulate you,” he said.
“He encouraged them to see the graduation as a new beginning, adding, “We have so much to do, and each one of us is best positioned now to make that transformation.”
Tobe Okigbo, Chief Corporate Services and Sustainability Officer, MTN Nigeria, congratulated the cohort on successfully completing the six-month programme and reaffirmed MTN’s long-term vision for the initiative.
He said, “Congratulations on completing this journey. You are joining a network of professionals who are committed to elevating the media landscape in Nigeria and beyond.
“The future of this programme depends on your impact. This cohort represents the outcome we envisioned when the journey began. Today, the programme is not only thriving but also expanding.”
He further announced that the Pan-African edition of the programme will be launched in 2026, providing media professionals across the continent with the same level of immersive training and unique exposure experienced by the Fellows.
A key highlight of the event was MTN Nigeria’s presentation of ₦2.5 million in cash prizes to Fellows whose projects demonstrated exceptional innovation, depth of research and alignment with the programme’s ethos of impactful storytelling. The awards were presented by Chineze Gbenga-Oluwatoye, General Manager, Corporate Affairs, MTN Nigeria, and Odunayo Sanya, Executive Director, MTN Foundation.
Vanessa Ukamaka Richard Bassey, Head of Programmes, Sparkling 92.3 FM, Calabar, emerged as the top winner, receiving ₦1 million for the MTN Foundation Chairman Award for Innovative Reportage and another ₦1 million for the MTN Chairman’s Prize for Innovation. Sharing her experience, she said, “It’s been a training ground. It has opened me up to new things and made me more confident. There’s something about knowledge and information and exposure to your mind and to your esteem. After today, I know there’s nothing to be afraid of.”
Abolaji Adebayo received ₦500,000 for the MIP Cohort 4 Best Report, recognised for its clarity, depth and relevance to national discourse.
Several Fellows shared how the programme has reshaped their careers. Adekeye Ayobami of Abamimigo FM described the programme as arriving at the perfect moment, aligning with his recent career elevation.
Ubani Amarachi of Channels TV highlighted the value of the South Africa trip, noting that it transformed her approach to telling African stories and reinforced her belief that graduation marks the beginning of greater responsibility and impact.
The graduation of the MIP Cohort 4 Fellows, coupled with the announcement of the Pan-African edition, reinforces MTN Nigeria’s long-standing commitment to strengthening the media ecosystem through education, exposure and innovation.
The partnership between MTN Nigeria and Pan-Atlantic University continues to serve as a catalyst for developing media professionals equipped to shape narratives, advance societal progress and drive meaningful change across Africa.
General News
FirstCap Acts as Joint Issuing House on Veritasi Homes & Properties Plc’s ₦30 Billion Bond Programme
FirstCap Limited, a premier investment banking business and a wholly owned subsidiary of FirstHoldCo Plc, acted as Joint Issuing House and Placing Agent on the Veritasi Homes & Properties Plc’s Series 1 Bond of ₦10 billion under its ₦30 billion Bond Programme duly registered with the Securities and Exchange Commission (SEC).
The Bond Programme is designed to support the development of Project Oyster Towers, located within Eko Atlantic City. Proceeds from the Series 1 Bond issuance are expected to be applied towards the construction of 30 luxury residential units, forming part of an 82-unit residential development comprising one-bedroom, two-bedroom, and three-bedroom apartments.
Veritasi Homes & Properties Plc is an indigenous real estate development company with operations across Lagos State and the Federal Capital Territory, Abuja, and a growing track record in the delivery of residential real estate projects in Nigeria.
Commenting on the transaction, Ukandu E. Ukandu, Managing Director/Chief Executive Officer of FirstCap Limited, stated:
“We are proud to partner with Veritasi Homes & Properties Plc on this important transaction. The establishment of the ₦30 billion Bond Programme reflects our commitment to mobilising capital for the real estate sector, which remains a key driver of Nigeria’s economic growth. Project Oyster Towers exemplifies the future of luxury and sustainable living in Nigeria, and this transaction reinforces FirstCap’s role as a trusted advisor in major corporate finance initiatives.”
FirstCap’s involvement in the Bond Programme further reinforces our dedication to supporting the growth of the Nigeria’s real estate sector. The successful execution of this transaction highlights the depth of expertise within our capital markets team and our role in supporting issuers in accessing long-term funding solutions aligned with their strategic objectives.
By continuing to connect capital providers with high-impact infrastructure projects such as Project Oyster Towers, we remain committed to driving economic development and delivering long-term value for all stakeholders, Ukandu added.
Kashifu Inuwa, the Director General of the National Information Technology Development Agency (NITDA), has called for a fundamental shift in Kano State’s economic strategy, urging stakeholders to embrace innovation, technology and collaboration as the drivers of growth in the 21st century.
Speaking at the Kano Startup Weekend, Inuwa acknowledge Kano’s long-standing reputation as the commercial nerve centre of Northern Nigeria and the wider Sahelian region, noting that its history of trade, enterprise and human capital provides a solid foundation for future growth.
He emphasised that while these strengths powered Kano’s success for centuries, the modern economy now offers even greater opportunities through innovation and technology.
He described innovation as the process of transforming ideas into impactful solutions through commercialization, stressing that when ideas are effectively deployed, they create value, solve societal challenges and generate sustainable economic growth. He noted that Kano’s large market, strategic location and vibrant entrepreneurial culture place it in a strong position to take advantage of innovation-driven opportunities.
According to him, “Innovation is the process of taking an idea from inception to impact. Invention on its own is a cost centre, but when you commercialise an idea, when you turn it into a product or service that solves a real problem and creates value, that is when you begin to drive economic growth and inclusion.”
He noted that the state hosts numerous degree-awarding institutions across federal, state and private ownership, providing a strong base for human capital development. However, he expressed concern that these institutions often operate in isolation from industry, with research outputs rarely translating into commercial or industrial applications.
He explained that innovation does not happen in silos and stressed the need for a strong, interconnected ecosystem that brings together academia, industry, startups, entrepreneurs and government.
According to him, universities should conduct research informed by industry needs, industries should leverage research to improve productivity and competitiveness, and startups should serve as the bridge that converts ideas into market-ready solutions.
He further encouraged entrepreneurs to leverage technology to build businesses that can grow beyond local markets, explaining that innovation-driven enterprises have the power to scale rapidly, create jobs and position Kano competitively at both national and global levels. According to him, digital platforms and emerging technologies now make it easier for startups to reach wider markets and develop solutions that were previously unimaginable.
“You can start your business here in Kano, but your thinking must be global from day one. Technology has removed barriers. With the right skills and platforms, a startup in Kano can build solutions that serve not just Nigeria, but the world,” he noted.
Highlighting NITDA’s ongoing interventions, the Director General outlined the Agency’s commitment to building national innovation capacity through targeted human capital development programmes. He cited the Digital Literacy for All (DL4ALL) initiative, which aims to equip Nigerians across all segments of society with essential digital skills, and the 3 Million Technical Talents (3MTT) programme, designed to produce a pipeline of globally competitive technical professionals in areas such as software development, data analysis and emerging technologies.
He said, “Through DL4ALL, we are ensuring that Nigerians at all levels have the basic digital skills needed to participate in the digital economy, while 3MTT is deliberately building a pipeline of globally competitive technical talents who can drive innovation, create jobs and attract investment.”
He explained that these programmes are key pillars of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises skills development, innovation, job creation and inclusive economic growth as pathways to national prosperity. According to him, empowering Nigerians with digital and technical skills is essential for building a resilient economy capable of competing in the global digital landscape.
“President Tinubu’s Renewed Hope Agenda is about investing in people, empowering them with relevant skills and creating opportunities for inclusive growth. At NITDA, we are using digital skills and innovation as tools to translate that vision into real economic impact for Nigerians,” he said.
Inuwa urged all stakeholders in Kano to work together to build a functional innovation ecosystem that can unlock the state’s vast potential. He expressed confidence that with the right mindset, strong collaboration and sustained investment in digital skills and innovation, Kano can reclaim its historic leadership role and emerge as a major innovation and entrepreneurship hub in Nigeria and beyond.
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