By 2025, the number of personal smart devices will reach 40 billion and the total number of connections around the world will reach 100 billion, creating a digital economy worth $23 trillion, technology giant, Huawei has said.
According to its new report titled: Global Industry Vision (GIV) 2025, all things will be able to sense and all things will be connected, leading to a world where everything is intelligent.
Essentially, GIV 2025 is anchored on three visions for the future. The first is all things sensing, more and better connections, bringing everything to the intelligent world.
According to GIV 2025, the intelligent world would truly have arrived once all things can sense and all things are connected. By 2025, there will be 40 billion personal smart devices and 100 billion connections around the world. “The Industrial Internet will be the major source of these 100 billion connections. The massive amounts of data generated by the ability for all things to sense will be extensively integrated in all industries, forming new industries like the Industrial Internet of Things (IoT) and Connected Vehicles.
“With more and better connections, data traffic will grow exponentially, and most of it will be from video. The Cloud VR market will reach $292 billion by 2025,” GIV said.
GIV 2025 described a future where the role of smart devices and smart robots will evolve from being just a tool to being an assistant. It said the penetration rate of smart assistants will be 90 per cent by 2025, with 12 per cent of homes having smart service robots, adding that with the assistance of guide robots, the world’s 39 million blind people and 246 million people with impaired vision will live normal lives.
The second vision is +Intelligence which will foster new business species and drive leapfrog development for industries
According to GIV 2025, with high-speed connections, IoT, and artificial intelligence (AI)-based cloud, +Intelligence platforms will help industries achieve leapfrog development through intelligent analysis, decision-making, and assistance.
“By 2025, intelligent technology will be applied extensively in the transportation industry, with more than 60 million vehicles connected to 5G networks and 100 per cent of new vehicles connected to the Internet. When intelligence is incorporated into manufacturing, ICT will converge with operational technology (OT) at an accelerated pace. This will generate positive returns for innovation, the industry, the value chain, and the ecosystem as a whole. By adopting intelligence in cities, urban planners will be able to create new paths for sustainable development in security management, transportation planning, and other domains, enabling city residents to enjoy the safety, convenience, and high living standards made possible by a digital life,” the report added.
The third vision of the report is mass innovation which would tap into the opportunities of a digital economy valued at $23 trillion.
Huawei predicts that the digital economy will be worth $23 trillion, adding that the value of +Intelligence will be widely accessible to manufacturing, services, transportation, and many other industries.
“The outcomes of innovation in the intelligent world will be apparent everywhere. The intelligent world will reshape industries and give birth to new intelligent industries. It will also enable industries to go beyond current growth trajectories and achieve leapfrog development while giving a massive boost to innovation,” the report said.
Huwei Board Director and Chief Strategy Marketing Officer, William Xu said: “This is the first time that Huawei has released the GIV report. Based on data and predictions about the future, we aim to unfold the industry blueprint of an intelligent world driven by information and communications technology (ICT). It is our goal to build the foundations that will enable the diverse ICT industry ecosystem to truly transition into the intelligent world, and team with our global partners to build this fully connected, intelligent world.”
Relying on Huawei’s own business strengths and insights into industry trends, GIV 2025 has its own unique research methodology-adopting a mix of data and trend analysis to elaborate on global information communication (ICT) trends and lay out the blueprint for the ICT industry. The data used in GIV 2025 spans more than 170 countries and regions. This report covers three dimensions (all things connected, all things sensing, and all things intelligent) and 37 metrics, including the amount of data generated, the percentage of enterprises that adopt AI, and the number of personal smart devices.
Jumia Nigeria Appoints Sunil Natraj as CEO, Outlines Ambitious Expansion Plans
Former Jumia Ghana CEO to Lead E-Commerce Giant as Massimiliano Spalazzi Steps Down
Jumia Nigeria, a prominent player in the e-commerce sector, has announced the appointment of Sunil Natraj as its new CEO.
Natraj, the former CEO of Jumia Ghana, will take the helm of the e-commerce business in January 2024, succeeding Massimiliano Spalazzi, who has been with Jumia Group for 11 years and will be stepping down in December 2023.
The announcement came during a media parley held in Yaba, Lagos, Nigeria, with Francis Dufay, the CEO of Jumia Group, unveiling Natraj as the new leader.
Natraj expressed Jumia’s commitment to becoming a truly Nigerian company and continuing the initiatives started by Spalazzi.
“We want to continue what Spalazzi started,” Natraj stated, emphasizing Jumia’s vision to expand its presence beyond Lagos.
He disclosed plans to extend operations to additional Nigerian cities, with Akure and Ilorin on the radar and a focus on cities en route to Ibadan, Warri, and Benin in the first quarter of 2024.
The overarching strategy is to create a comprehensive network covering the entire country.
Dufay outlined the ambitious goal of targeting cities with populations exceeding 20,000 people, citing successful precedents in Ghana, Cote d’Ivoire, and Senegal.
He acknowledged the challenges faced by Jumia, including a workforce reduction in Q4 2022 and a 73% cut in advertising budgets in Q3 2023.
Despite the hurdles, Dufay highlighted Nigeria as Jumia’s largest market and affirmed the company’s determination to navigate and thrive in the ever-evolving e-commerce landscape.
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Flutterwave Expands Financial Frontier: Acquires Money Transfer Licenses for 13 U.S. States
Africa’s Leading Payments Tech Firm Facilitates Faster, Affordable, and Secure Transfers between the U.S. and Africa
In a significant move towards advancing financial connectivity between Africa and the United States, Flutterwave, Africa’s premier payments technology company, has proudly announced its acquisition of money transfer licenses for 13 key U.S. states.
This strategic expansion aims to expedite, streamline, and secure the transfer of money from the U.S. to Africa and back.
The states covered by the newly acquired licenses include Arizona, Arkansas, Maryland, Michigan, Delaware, Georgia, Maine, Mississippi, Missouri, New Hampshire, Iowa, North Dakota, and South Dakota.
These additions, combined with Flutterwave’s existing partnerships and licenses, now empower the company to serve customers seamlessly across 29 states in the U.S.
Money transfer licenses, issued by state regulators, play a pivotal role in enabling financial technology companies like Flutterwave to engage in the transmission of money.
The acquisition of these licenses fortifies Flutterwave’s commitment to regulatory compliance, safety, and the soundness of its services.
Stephen Cheng, Executive Vice President, Global Expansion and Partnerships at Flutterwave, emphasized the significance of this milestone.
“Getting these licenses expands our regulatory footprint, demonstrates our ability to deliver services with safety and soundness, and fosters trust among regulators, partners, and customers,” stated Cheng.
“We’re growing and are committed to servicing customer needs in as many geographies as possible, particularly with a significant African diaspora.”
Flutterwave’s popular solutions, such as the Send App, are set to benefit greatly from this expansion.
The Send App facilitates easy and secure money transfers between the U.S. and Africa, catering to both individual users and enterprises that rely on Flutterwave for global last-mile payouts.
“Sending money between the U.S. and Africa has been challenging for the African diaspora. These licenses pave the way for Flutterwave to make the Send App available to the African diaspora in the U.S., offering a super user-friendly money remittance experience,” explained Olugbenga Agboola, Founder and CEO at Flutterwave.
“Our mission is to connect Africa to the world and the world to Africa by simplifying payments for endless possibilities. These licenses move us one step closer to our vision, and we will continue to expand this feat to ensure coverage for all states in the U.S. and beyond.”
Flutterwave remains steadfast in its commitment to providing accessible remittance services across the U.S. and has outlined plans for further expansion of licensing coverage in the near future.
This ambitious endeavor reflects the company’s dedication to fostering financial inclusion and creating a seamless financial bridge between continents.
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