How IoTs, AI, Bloockchain are Driving Digital Revolution Across Sectors of  Global Economy

Emma Okonji

Emerging technologies like Big Data, Internet of Things (IoTs), Artificial Intelligence (AI), Blockchain among others, have continued to drive digital revolution across various sectors of the global economy, leading to convergence of media with Information and Communications Technology (ICT), according to experts’ views.

The experts who spoke as guest lecturers at the ongoing Media Innovation Programme (MIP-2) at the School of Media and Communication, Pan Atlantic University in Ibeju Lekki, Lagos, were of the view that the digital revolution, occasioned by emerging technologies, is fueling ICT and Media convergence and at the same time, driving innovation in the media space.

One of the guest lecturers, Dr. Pius Onobhayedo, said technology has evolved from the old days of transistors to the current days of computers and smartphones that are driving innovation and efficiency in the media space.

Speaking about internet revolution and its impact on media, Onobhayedo said the internet brought about convergence and innovation in the media, thus making media practitioners to be more innovative and multi-tasking in their daily activities of news reporting.

“Digital revolution has triggered convergence of web of people, web of knowledge and web of service, and all these are largely driving by data connectivity from 1G, 2G, 3G, 4G and 5G technologies that come with lower latency and high connectivity speed,” Onobhayedo said.     

He therefore stressed the need for increased bandwidth and additional broadband rollout across the country to speed up connectivity in today’s era of digital convergence.

Citing the Nigerian National Broadband Plan (NNBP) 2020-2025, which targets 70 per cent broadband penetration across Nigeria by 2025, Onobhayedo expressed the possibility of meeting such target, adding that it will deepen convergence in the media space and other sectors of the Nigerian economy.

Addressing the impact of Blockchain technology on technology convergence, Onobhayedo explained that Blockchain technology has opened vista of opportunities for technology growth and convergence. He described the Blockchain technology as a database of transaction records linked as blocks that is driving digital transformation across globe.

Another guest lecturer, Dr. Ijeoma Onyeator, who spoke about ‘Sensationalism, Fake News and New Media Tools’, said although convergence propelled development in the media space, it is however contending with fake news that is almost tearing the media apart. She advised media practitioners to use the right tool to verify credible sources of news to avoid misleading the general public.

Addressing innovation in the media space and how to build an innovative media platform, the Founder and CEO of Afia Tv, Mr. Emeka Mba, said innovation remained key in any media business, be it print, online or broadcast, in order to gain the right market share. Mba who was a former Director General of the National Broadcasting Commission (NBC), also stressed the need for government regulation of the media in such a way that it will not hamper digital revolution.     

The Founder of uduX, a video streaming company, Mr. Chidi Okeke, stressed on the need for media practitioners to understand how to monitise their contents.

“As a technology company uduX will continue to strive to monitise digital contents on mobile phones, even though it has been extremely difficult to do so across the African continent,” Okeke said.