Looking for truth about the future of Cameroon’s digital economy?
See them in this report – Cyber Security and Cybercrime Policies for African Diplomats of 12 April 2018.
Before making that report public, they agreed on one thing which we all already know.
Africa needs ICT to transform itself.
With ICT, we can catch up with the rest of the world in Governance (efficient Government), Health (e-Health), Education (e-Education), Agriculture and food security (e- Agriculture), Inter-Africa trade and Integration (e-Commerce, e-Identity) etc.
In this post however, see how IT has upped the ante for you, me, businesses and the government.
5 Things the African Union (AU) Wants You to Know about Data, IT Security, Governance, Software Applications, Digital Business/marketing.
1. New business models are taking over traditional models
New companies are disrupting current business models. Businesses built on the power of networks are beating traditional companies in different industries.
|Network Firm||Market Value||Traditional Firm||Market Value|
|UBER||$70 Billions. No cars, more than a Million Drivers||HERTZ||$7 Billions. 350 Thousands cars.|
|Airbnb||$24 Billions. 1.5 Million Homes for rent- NONE OWNED||STARWOOD||$12 Billion. 1,270+ Hotels|
|$84 Billions. 650 Million users, 0 miles of infrastructure build/own.||AT&T||$207 Billion Market Cap. 122 Millions Phone subscribers. 11 Millions of Network Fiber.|
|Alibaba||$200 Billion market. Zero retail locations||Walmart||$190 Market cap. 11,000 Retail Locations|
Add Facebook, Amazon, Netflix, Google to the network firm list above. They are the disrupters.
In the financial sector, a recent research shows that traditional banking executives fear the increasing competition from Fintech firms or challenger banks.
In brief, traditional banks fear Fintechs and Big Tech as they attempt to survive in a digitalized financial services sector.
2. Your life is in the cloud. Security is now a concern.
Every time you surf the internet, you generate information about what you prefer, your health, mental state, your projects etc.
This data is collected, processed and correlated by computers. Call this opportunity big data.
With big data, governments, businesses, organizations will no longer take decisions on chance. Prediction will be the keyword.
With the revolution of big data, random reasoning will gradually disappear in favor of digital truth from personal data, that 95% of the connected population, agrees to give up.
This raises the question of cyber security. Because, if you don’t feel secure, you’ll not no longer use the internet. Imagine if countries pull out because of the bad guys.
Moreover, in the future, wars will not just be fought by soldiers with guns or with planes that drop bombs. Much will be done by clicks.
3. Internet matters have climbed up the ladder of political priorities
Three out of 15 pages of the Deauville Declaration dealt with the Internet. The G8 leaders agreed on a number of key principles, including: freedom, respect for privacy and intellectual property, multi-stakeholder governance, cyber-security and protection for crime.
Thanks to that declaration, the Council of Europe, the OECD, the OSCE and NATO have started similar initiatives towards the elaboration and adoption of Internet principles.
In the US, President Barack Obama proposed 10 principles in his strategy paper in May 2011.
In the EU, Commissioner Nelly Kroes offered seven principles when she proposed her ‘Internet Compact’ end of July 2011.
In the emerging economies, Brazil, India and South Africa – on behalf of the Group of 77 – proposed the 65th UN General Assembly in September 2010 to launch a “new intergovernmental Internet platform”.
Like in many other countries, on the issue of information society governance, the law always lags behind technology.
However, we are still yet to join the African data protection initiative.
4. No Country is safe from cyber crimes. Not even your country.
West African financial institutions have been hit by waves of attacks.
5. The future is IoT
The truth is, we can’t predict the future with 100% accuracy. It does not matter whether it is 10 years from now or 100 years from now.
However, we can look at where today’s technology is headed for a glimpse of what the Internet may be like in the future.
At the current pace, it’s possible some of us may even hate to see it turn into reality! But the truth remains.
In 100 years, it’s highly likely – I must say – something new and more involved will replace the Internet.
But in 20 years according to the AU, everyone (and everything?) on the planet will be networked. That’s to say homes, cars, businesses. Even our bodies will be instrumented and monitored.
Also, augmented and virtual reality will become normal.