May 18, 2019

ICT investor cautions businessmen against falling victim of ‘distruptive technology’

ICT investor cautions businessmen against falling victim of ‘distruptive technology’

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By Egufe Yafugborhi
PORT HARCOURT – INFORMATION Technology investor, Hyacinth Iheanachor, has advised Nigerians in all shades of businesses to keep up with changing trends in technohological innovations to grow their businesses to avoid being displaced by “disruptive technology”.

In a keynote address yesterday at the Access Bank Business Club, Port Harcourt, Rivers state, Iheanachor who explained distruptive technology as improved innovations which displace old ways of doing businesses said the trend has put many persons caught unguarded out of business and misery.

He said, “The commonest experience we can share in Nigeria was the introduction of GSM or mobile phone which almost immediately collapsed the dependence on landlines and analogue phones. I don’t know of anyone who still uses once popular NITEL or land lines today.

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“Though NITEL then has its management challenges, it was the introduction GSM by the President Obadanjo administration which totally killed NITEL and made it impossible for its privatisation to succeed as government wasn’t proactive enough to bring it up to speed with the changing communication trends.”

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“We must realise that disruptive technology is not about negativity. It has improved efficiency in banking, education, media, virtually all facets of our lives. All businesses need to maximise its benefits. In a world ruled by technology, you either shape up or fall out in your business.”

Tonye Ukpong, Regional Head, Retails, Access Bank, said the Access Bank Business Club, a quarterly forum where various businessmen mingle with the bank staff in the atmosphere of entertainment outside the banking hall has significantly helped business owners to grow their network while also increasing the bank’s customer base.