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How Technology is Pumping up Business in 2021: 3D Offices, 4G on the Moon, Gamification of Everything, and 6 More Hot Trends

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Gamification of Everything

Research firm Wunderman Thompson Intelligence has released its 2021 trends report.

The report contains 100 predictions about how technology will affect different areas of life and business: culture, commerce, sports (for example, how the best online sports betting apps will change), and others. We have selected the most interesting of them – let’s see how the world has changed and will change this year.

A Revolution in the Gaming Industry and the Rise of Cloud Gaming

The consumer gaming industry is growing rapidly – the market is expected to reach $198 billion by 2024, and that’s not including sales of augmented and virtual reality hardware. Digital games are beginning to be used at events and concerts as an element of audience engagement. Traditional gaming spaces are turning into places where people can gather and communicate remotely, including solving business issues.

For example, Unconventional launched in 2020 as a virtual event space with 3D participant avatars and game worlds, and it now has 50,000 users. It is widely used, from business meetings to birthday parties. Since offline events are inaccessible because of the pandemic, people have developed a demand for online events that involve unique user experiences they previously had in games.

Games could change the world over the next decade and become the dominant technology platforms as social media used to be.

Meanwhile, big companies are betting on cloud gaming. For example, Facebook has added cloud games to its gaming platform, and China’s Tencent (the developer of the messenger WeChat) has teamed up with telecommunications company Huawei to develop its own cloud gaming platform.

Tech companies are investing in cloud-based streaming games because they are the future: It is more convenient for users to access the game on-demand and from any device. Companies save on deploying their own infrastructure to host gaming applications.

Virtual Sports and Gamified Fitness

In 2020, due to the pandemic, many sports competitions were cancelled and live sports events disappeared, which led to the convergence of real and virtual sports with cybersports.

For example, racers were already using simulators to train, now brands are entering the market with solutions for virtual races in which amateurs can participate. Aston Martin released a $76,300 AMR-C01 racing simulator in September.

Zwift, an online cycling and running training platform, held the first Tour de France international cycling race in virtual mode. Professional and amateur athletes participated. Athletes competed for prizes, while amateurs were able to compare their strengths with the professionals by competing with them on the same courses.

And Adidas released a smart sneaker insole that records physical data while playing real soccer: the number and strength of kicks, running speed, and so on. These stats can be uploaded to the EA Sports FIFA Mobile game and compare your results with other players.

In 2021, this trend will continue and traditional sports will continue to merge with virtual sports.

Fitness, too, is moving from the real world to the virtual. In April 2020, Oculus and Within released a new VR fitness app, Supernatural. It provides users with personalized virtual workouts surrounded by stunning scenery.

The Future of Mixed Reality

Mixed Reality (MR) is the union of virtual and real worlds. Virtual objects are added to the world around you that look like the real world. For example, a virtual painting on a real wall in a room is a mixed reality.

Adaptability and ease of use have made mixed reality a new trend in the gaming industry. Virtual reality (VR) equipment is expensive and cumbersome, and augmented reality (AR) is dependent on mobile devices. According to Mordor Intelligence, the mixed reality market was valued at $382.6 million in 2019 and will grow further.

In October 2020, Nintendo released a new game called Mario Kart Live: Home Circuit. Participants in the game compete on remote-controlled cars inside their homes, interacting with elements of the virtual and real worlds.

Indian telecommunications giant Reliance Jio announced Jio Glass mixed reality glasses, and Facebook and Google have already invested in the company. Judging by the patents filed, a similar device will soon be released by Apple.

Mixed reality is an attractive solution for enhancing the user experience. It may soon be used in most entertainment spaces and events.

Contactless Air Travel

Airlines and airports are adopting contactless ways to interact with passengers wherever possible. They’re aiming for passengers to use mobile apps instead of publicly available touchpads and contact airport staff. This avoids queues and crowds.

For example, more companies have begun sending advance notice of flight delays or cancellations, introduced contactless check-in and luggage tag printing, and implemented meal pre-ordering and online payment. And some airports are introducing a system that allows boarding passes to be scanned at a distance of more than 1.5 meters.

Companies are also thinking about places on the plane where you can’t do completely without touching, such as restrooms and in-flight entertainment systems. There aren’t any innovations yet, but designers are trying to rethink these approaches and keep the number of touches to a minimum.

Technology Conquers Space

The leading technology brands are beginning to explore space. NASA and Nokia are planning to deploy a 4G network on the Moon. This will improve data transmission and help astronauts control moonwalkers, navigate in space, and broadcast video in real-time.

Cloud technology is also moving beyond our planet. Analysts predict that by the end of the decade, total revenue from space-related cloud services could be about $15 billion. New cloud computing services can be deployed using low-orbit spacecraft and traditional satellites.

Virtual Offices Instead of Real Offices

Remote working is becoming the norm. Many companies are rethinking this work format, offering new and unusual solutions.

For example, Dropbox announced that it is now becoming virtual-first, meaning that it is primarily focused on virtual workspaces and is abandoning its real offices. This is unusual because the company signed the largest lease in San Francisco history in 2017, and will now rent out the space itself.

Other companies are creating virtual offices where employees can walk around familiar spaces, attend meetings and just gather for coffee and conversation.

In April 2020, Sine Wave Entertainment launched Breakroom, a virtual world product for remote workplaces that provides 3D offices for companies such as Virgin Group and Torque Esports. Italian energy company Enel gathers employees as avatars in virtual meeting rooms using a combination of augmented and virtual reality technology.

Experts believe that the time of large offline offices is a thing of the past, the time of distributed work is coming.

The Virtualization of Stores Continues

Digital fashion and virtual closets are one of the trends gaining popularity. For example, digital virtualization allows fashion houses to showcase their collections, and brands can create virtual spaces with unique designs.

Virtual fashion house The Fabricant creates unique designs that exist only digitally. Using 3D modelling, they design outfits for customer avatars that can only be worn in digital environments such as games or social media.

Also, the pandemic has led to fewer visitors at car dealerships, so innovative companies are changing the car-buying process by making it easier to choose online.

Buyers of Volkswagen Australia can visit a virtual showroom where they can see how a car would look in different conditions, open and close doors, interact with the interior and, of course, make a purchase. Ford has launched a similar AR service, which allows you to explore the new F-150 car in augmented reality: see it inside and outside, assess how it would look in a parking lot near your home.

Retail continues the transition to online, offering a personalized experience for shoppers who prefer digital technology. Live Commerce is an online sales model where influencers showcase items for sale in real-time. The format has been popular in Asian markets for several years and is now experiencing a global boom. This format now sells everything from doorbells to makeup products.

In June 2020, Canadian e-commerce platform Livescale announced a partnership with Shopify, a popular e-commerce platform in North America. According to Livescale, the number of business inquiries has increased fivefold since March 2020.

The Emergence of Stores Without Shoppers

Retailers are shifting to a store format without shoppers. Such outlets are being served by online retailers. In September 2020, Whole Foods Market opened a store in New York City that is closed to the public. It is for delivery and pickup only. Walmart is repurposing four of its U.S. stores for e-commerce. Other chains are adopting similar solutions.

Those retailers who are still serving customers are challenged by people’s desire to limit contact when they buy. That’s why contactless technology will be developed to simplify the choice of goods.

For example, cosmetics stores already offer customers virtual makeup: mirrors allow them to “try on” lipstick, and artificial intelligence will help pick out shadows that best match the shade of the buyer’s skin.

Developments in Delivery Technology and Electric Transportation

Thanks to the growth of e-commerce in 2020, the delivery industry has also seen rapid growth. According to a study by the World Economic Forum, the growth in e-commerce demand will lead to a 36% increase in delivery vehicles in the world’s 100 largest cities by 2030.

The Consumer Electronics Show was held in January 2021, where companies showcased their new developments in delivery:

  • Skyward and UPS Flight Forward organized drone delivery.
  • Cenntro Automotive Group unveiled the CityPorter electric vehicle, which is designed to drive around town and deliver goods to customers.
  • General Motors has launched a new business line for delivery, BrightDrop. It is an entire ecosystem of electric vehicles, through which companies can reduce costs and be more environmentally friendly. The first customer is FedEx Delivery Service, which will get BrightDrop EV600 electric vans in late 2021.
  • FedEx Express CEO Richard Smith said the pandemic has greatly accelerated e-commerce and door-to-door delivery. He believes the sector will continue to grow and by 2023, 100 million parcels a day will be delivered to U.S. residences. Before the pandemic, that growth was projected only by 2026.

There is other evidence that the electric transportation market will grow. For example, in January 2020, the British company Arrival received an order for 10,000 electric vehicles from UPS, and also hopes to receive an $85 million investment from Hyundai to develop production. And in December 2020, U.S.-based Canoo published plans for an “all-electric multi-purpose delivery vehicle,” expected to be released in 2023.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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Tax, Inflation, and Still Broke: The Economic Divide

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Chiamaka Happiness Madueke Economic divide

By Chiamaka Happiness Madueke

What’s worse than being taxed? Being taxed invisibly and twice.

When the government tightens monetary policy; hikes taxes, and removes subsidies, all in one breath, you would expect the economy to breathe easier. But in Nigeria, the air seems to feel thinner.

Over the past few years, Nigeria has embraced a series of bold economic reforms; floating the Naira, removing fuel subsidies, and pushing revenue generation targets. These actions can generally signal fiscal discipline and long-term growth.

For example, the Nigerian government reportedly saved N3.6 trillion from subsidy removal in just the second half of 2023, but beneath the policy headlines lies a quieter story: one where debt servicing, inflation, taxation, and informal charges collide to create an invisible burden on everyday transactions.

Yes, between visible taxes, invisible inflation, and unofficial levies collected by everyone and no one, low-income Nigerians allegedly seem trapped in a system that squeezes them from every direction.

Let me digress for a second, but I’ll bring it back in a bit, I promise.

At first glance, taxation and inflation may seem like two separate forces: one a fiscal tool, the other a macroeconomic consequence. But in Nigeria’s current climate, they’re colliding in real time, shaping the daily experience of citizens and businesses alike.

The Taxation Puzzle

Nigeria’s tax-to-GDP ratio remains among the lowest globally; just 10.86 per cent as of 2022, according to the Federal Inland Revenue Service (FIRS). That’s well below the 15–25 per cent global average, and even lower than the African average. Yet, the informal economy, which contributes nearly 58 per cent to GDP, bears much of the untracked tax burden through local levies and fees.

This mismatch reveals a chronic revenue problem and this challenge becomes even more critical when you consider the growing cost of debt. But borrowing isn’t inherently bad; in fact, strategic debt can stimulate growth if channelled into things like power, roads, manufacturing, or digital infrastructure, projects that have a way of boosting the economy.

In an interview with Arise News, the CEO of Sterling Bank, Mr Abubakar Suleiman, said, “If you are not collecting enough revenue to service a debt, that is a problem”. But it is even worse when you’re not using that debt for productive, economic reasons; that’s a structural problem.

Then I ran the numbers, in 2022, Nigeria reportedly spent a large per cent of its revenue on debt servicing. That means most of what we earn do not go to schools, hospitals, or industrial development, they go to paying back interest. That’s like living on a credit card and using it to buy lunch, not build a business that would make profit.

In 2023, 64.5 per cent of the federal government’s total revenue was used for debt servicing, according to a BusinessDay analysis of data from the Budget Office.

Although this was higher than the 48.5 per cent in 2022, it was still less than the 71.8 per cent in 2021. In 2023, actual revenue was N11.88 trillion, slightly above the predicted N11.05 trillion, while actual debt service costs were N7.66 trillion, 16.9 per cent higher than the projected N6.56 trillion.

In comparison, Nigeria’s revenue for the fiscal year 2022 was N7.76 trillion, falling short of the N9.97 trillion projection. The fact that debt servicing increased to N3.76 trillion from an anticipated N3.69 trillion in spite of this shortfall shows that debt obligations are an unavoidable burden even in cases where revenues are below budget.

This pattern emphasizes how little financial flexibility the government has, particularly when it comes to financing infrastructure or social projects.

By September 30, 2024, Nigeria’s total public debt had climbed to N142.3 trillion, reflecting a N8.02 trillion increase from N134.3 trillion in June 2024. This 5.97 per cent rise was attributed not only to additional borrowing but also to the depreciation of the Naira, which significantly inflated the naira value of external debt.

The surge in debt has not been matched by a proportional increase in productive investment, raising questions about the sustainability and strategic intent of government borrowing.

Adding to the concern, the total debt service cost reached an estimated N3.57 trillion in just the third quarter of 2024 alone.

With limited income from formal taxation, the government allegedly struggles to adequately fund infrastructure, education, healthcare, and essential services.

In response, efforts are underway to:

  • Widen the tax base by formalizing more of the informal sector,
  • Improve compliance through digital platforms and data integration,
  • Rationalize outdated and inefficient tax incentives.

However, increasing tax pressure and its enforcement especially now can be politically unpopular and economically dangerous. Why? Because inflation is already eating through household budgets.

The Inflation Squeeze

Nigeria’s inflation rate has remained stubbornly high, largely driven by the rising cost of food prices, currency depreciation, removal of fuel subsidy and Monetary policies like floating the Naira.

As of early 2024, inflation was between 28–30 per cent, with core inflation also climbing. This diminishes buying power, worsens poverty, and increases the expenses of conducting business.

Essentially, inflation operates as an unnoticed tax, one that hits the vulnerable the hardest, especially low and middle-income earners whose wages aren’t keeping pace.

One key statement caught my attention in recent times, “We must choose between Taxation or Inflation.”

At first, that sounded a bit extreme. But the more I thought about it, the more it made sense.

Taxation is visible, structured, and can be progressive. Inflation, on the other hand, is unpredictable and regressive, a silent thief that spares no one, but affects the poor more because they have less to spend.

For low-income Nigerians, a controlled tax system paired with targeted public investment, might be more manageable than the current wave of inflation that raises the price of garri, beans, and palm oil every other week for Aunty Onyeka and thousands like her.

The “Other” Taxes We Don’t Talk About

But this brings me to a creeping question. What about the unofficial taxes? The ones no one talks about?

How are the indirect taxes collected from public transporters by local levy collectors accounted for? The levies collected from Mama Basirat who hawks around Oshodi market selling cooked food has watched the price of palm oil jump three times in six months while still paying a N500 “market ticket” every morning before selling a single plate of rice. Who tracks that revenue?

Yes, the most shocking revelation for me has been realizing that even hawkers – hawkers, who sell sachet water or fruit walking down roads and the street corners are being taxed in some areas.

Or rather, charged daily levies by local agents. And no, I am not condemning that, just that this issue raises some serious questions in my head:

  • Where does this money go?
  • Is it remitted to any official government account?
  • What public service is being provided in return?

If we zoom out, the irony becomes obvious. We keep saying Nigeria’s tax-to-GDP ratio is too low. Yet, many of the poorest Nigerians are already being taxed, just not in ways that show up in FIRS data.

They’re taxed by local councils, market unions, transport associations, and sometimes even self-appointed local revenue agents. Is this form of taxation? It’s neither progressive nor transparent, nor accountable.

So, What Are We Really Talking About?

When we push for increasing tax revenue, we often picture corporate profits or high-net-worth individuals. But the reality? Many of the levies, fees, and informal charges disproportionately hit those in the informal sector; drivers, traders, hawkers, the same people inflation is already punishing the most. It’s a vicious cycle.

Drivers hike transport fares to meet the levies. Hawkers bump up prices to stay afloat and somewhere in the middle, people start paying more for food, transport, and basic needs. So, yes, taxation may be more beneficial than inflation but only if it’s fair, formal, and genuinely

used to improve lives. Until then, we seem to remain stuck in a system where the poorest pay the most, twice over: Once through rising prices that their income can barely meet, and again through levies that don’t even show up in the books. The informal sector is already contributing indirectly through taxes and levies. But where that money goes, that’s the real mystery.

The discussion about taxation in Nigeria must expand beyond the official tax system to consider these informal levies. And that, more than anything, is what really got my thinking juices flowing.

Maybe the conversation shouldn’t just be about taxing more, but taxing better, and ensuring value for those already overburdened.

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How Nigerian Businesses Can Leverage Agentic AI for Growth and Efficiency

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Kehinde Ogundare Top 5 Zoho Platforms

By Kehinde Ogundare

Artificial Intelligence (AI) is revolutionising industries globally, and Nigeria is no exception to this trend. Businesses in Nigeria are increasingly exploring AI-driven automation to enhance efficiency, drive innovation, and remain competitive. However, AI adoption remains relatively low, as many businesses struggle to identify practical use cases that deliver measurable ROI.

A key emerging trend addressing this challenge is Agentic AI–a more advanced form of AI that enables businesses to create autonomous digital agents capable of handling complex tasks, optimising workflows, and improving decision-making. Unlike traditional AI models that react to user inputs, Agentic AI proactively learns, makes decisions, and automates entire processes, making it a game-changer for businesses looking to scale productivity.

The Rise of Agentic AI in Business

Globally, AI adoption has grown, but many businesses still hesitate due to concerns over cost, implementation complexity, and lack of clear ROI. According to McKinsey & Company, organisations that have successfully integrated AI-driven automation report efficiency improvements ranging from 20–30%. The key to unlocking AI’s full potential lies in specialised AI models designed for specific business functions–precisely where Agentic AI excels.

For example, in customer service, AI-powered agents can automate repetitive tasks, resolve issues faster, and enhance customer satisfaction. Studies have shown that nearly 88% of Nigerian consumers consider customer experience critical to their purchasing decisions. Agentic AI can help businesses meet these expectations by providing instant, personalised support.

In sales, AI-driven Sales Development Representative (SDR) Agent can analyse customer interactions, identify sales opportunities, and suggest targeted outreach strategies. Research highlights that businesses using AI in sales automation experience increase conversion rates and higher sales productivity.

Similarly, Human Resources (HR) operations are being transformed by AI-powered automation. Tasks such as leave management, employee onboarding, and performance tracking can be effectively handled by Agentic AI, allowing HR professionals to focus on strategic employment engagement. Deloitte indicates that AI-powered HR automation reduces administrative workload significantly, enhancing employee satisfaction and operational efficiency.

In IT operations, AI-powered Help Desk Agents streamline troubleshooting, diagnose issues, and execute quick fixes. This reduces downtime and significantly improves operational continuity and productivity.

How Zoho is Innovating with Agentic AI

At Zoho, we recognise the potential of Agentic AI and have developed Zia Agents for specific use cases within various products. Unlike generic AI models, Zia Agents provide contextual intelligence, real-time decision-making, and deep business-specific insights. Additionally, Zoho ensures that Zia agents operate within a secure infrastructure, fully compliant with various global privacy regulations, making it a trusted solution for businesses handling sensitive data.

We have also launched Agent Studio, an AI-powered platform that enables our customers, partners, and independent developers to create specialised agents for their specific needs. These can be hosted on Agent Marketplace, where they can be monetised. Nigerian businesses can utilise Agent Studio to build hyperlocal agents for various industries.

The Future of Business with Agentic AI

The shift towards Agentic AI is inevitable as businesses increasingly seek smarter, more autonomous systems to drive efficiency and growth. Organisations that embrace AI-driven today will be better positioned to compete in Nigeria’s evolving digital economy.

For Nigerian businesses looking to scale efficiently, Agentic AI  offers a practical and results driven approach to automation. By leveraging Zoho’s Zia Agents, companies can achieve higher productivity, ensuring long-term success in a competitive marketplace.

Kehinde Ogundare is the Country Head for Zoho Nigeria

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If Data is the New Oil, Where is the Refinery?

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Timi Olubiyi Data is the New Oil

By Timi Olubiyi, PhD

Internet users are growing at an unprecedented rate, and in Nigeria, for instance, internet users have expressed concerns and frustration over the data price increase in recent times, with many feeling its negative impact on their budgets and mobile smartphone usage.

Major networks such as MTN, Airtel, and Glo have seen a close to 50 per cent increase in Nigerian mobile data prices, with no known alternative available. This shows the significance of data and internet usage, highlighting its role in the digital age and the rapid growth of data and content creation across Africa.

From mobile phone data and e-commerce activities to social media interactions and government services, vast amounts of information are being created daily, which is accessible through internet usage.

The economic and technological landscape of Africa has been undergoing significant evolution recently. The continent is inhabited by over 1.4 billion individuals, and a larger portion of them create, use, and feed on data— which is a digital transformation.

The convergence of rising mobile phone usage, enhanced internet accessibility, and a youthful, technologically adept demographic has positioned Africa at the forefront of global discussions around technology innovation and data generation.

Recently, the phrase “data is the new oil” has gained significant traction in discussions related to technology, business, and the digital economy. But it is public knowledge that when it comes to oil, its availability is limited to certain areas of the world.

On the other hand, tech giants like Google, Facebook, Netflix, Amazon, Microsoft, and Apple control most of the world’s data.

According to a study by Sandvine in 2021, these companies are responsible for about 57 per cent of global data flow, and they have all commodified data. The huge amount of data controlled by these mega-companies is bigger than most small businesses and corporations. But, anyway, this would be another story piece for another time.

In the view of the author, if we want to know if data is really the “new oil”, we need to first look at how it builds value. Data by itself is not useful, just like in the case of oil. Raw data, without any processing or analysis, is merely a collection of information that requires interpretation.

For instance, an online store might keep track of what customers do, like what links they click on, how long they stay on product pages, and what they bought in the past.

However, this data remains mostly useless until it undergoes processing, analysis, and transformation into actionable ideas. Business managers in Africa should follow this path and should adhere to a mindset of ‘facts superiority over opinion’.

As businesses expand, an increasing number of individuals express ideas regarding the actions to be undertaken. However, it is beneficial to employ a data-insight mentality. All company metrics can be tested, measured and improved upon.

It is important to note that business owners/managers must have real-time access to the most important data in their business. Understanding which Key Performance Indicators (KPIs) affect revenue and profit is significantly more crucial than the revenue and profit figures themselves.

When data is cleaned up and analysed, it becomes really useful. Similar to refining oil to produce petrol, diesel, and other products, processing data yields beneficial outcomes. This is where Google and Facebook shine. They have put a lot of money into technologies like machine learning and big data analytics that can turn huge amounts of raw data into personalised ads, recommendation engines, and models that can predict the future. In this way, they make money for both their users and their owners.

In Africa, the idea of “data as the new oil” is particularly appealing because it could help the continent skip ahead in the normal stages of economic growth. Mobile phones let African countries get around the need for landline infrastructure.

Similarly, data technologies could help African economies get past older, resource-heavy ways of growing, leading to new ideas and long-term growth in fresh ways. In agriculture, for instance, data analytics and satellite imaging can help farmers figure out how the weather will behave, get the most out of their crops, and make harvest supply lines work better. Data-driven solutions in healthcare, like electronic health records (EHRs) and predictive analytics, can help find diseases, control outbreaks, and make healthcare better.

In the same way, data-driven education platforms can give students personalised learning experiences and give teachers and managers useful information about how students are doing and what they need. More so, businesses could be data-driven by setting up special internal research units on data, where insights can be generated to improve on decision-making.

Looking ahead, there are evident similarities between data and oil; much like crude oil, data is valuable. Data is not a naturally occurring resource like oil; it is a by-product of human activity. Oil is a limited resource, whereas data is plentiful and perpetually increasing. Raw data must be processed and analysed to derive significant insights and facilitate informed decision-making.

This is where artificial intelligence (AI) is relevant. AI acts as the ultimate data refinery, enabling the conversion of extensive information into meaningful insights. In contrast to oil, which is extracted and processed by a limited number of firms, data is more extensively disseminated, including various stakeholders in its collection, analysis, and utilisation.

Anticipating the future, data will probably witness ongoing advancements in many domains because it is a strategic asset for business and economic growth. With it, people, organisations, and governments can make better decisions. Good luck!

How may you obtain advice or further information on the article? 

Dr Timi Olubiyi is an entrepreneurship and business management expert with a PhD in Business Administration from Babcock University, Nigeria. He is a prolific investment coach, author, seasoned scholar, chartered member of the Chartered Institute for Securities and Investment (CISI), and a Securities and Exchange Commission (SEC)-registered capital market operator. He can be reached on the Twitter handle @drtimiolubiyi and via email: drtimiolubiyi@gmail.com, for any questions, reactions, and comments.

The opinions expressed in this article are those of the author, Dr Timi Olubiyi, and do not necessarily reflect the opinions of others.

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