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AI is Viewed as a Game Changer by Businesses, GlobalData Poll Shows

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Artificial intelligence (AI) is expected to be the most disruptive emerging technology, according to the latest report from GlobalData, a leading data and analytics company. In response to a poll by the company, 65% of respondents stated that AI would disrupt their industries, ahead of cybersecurity (57%), and IoT and cloud computing (both on 55%).

Conducted as part of the latest report by GlobalData, ‘Emerging Technology Sentiment Analysis Q1 2021’, the survey examined sentiment towards seven key technologies: cybersecurity, cloud computing, augmented reality (AR), artificial intelligence (AI), 5G, the Internet of Things (IoT), and blockchain. AI was the most polarizing technology, with more than a fifth of respondents saying that they felt more negative towards the technology in Q1 2021 than this time last year.

Filipe Oliveira, Senior Analyst at GlobalData commented: “Processing power is increasing and becoming democratized, making complex AI workloads available to a growing number of companies. As more businesses are exposed to the technology, some will find that it does not live up to expectations.”

Of all the technologies that GlobalData polled, executives are most skeptical of blockchain. Less than half believe in the potential of the technology to cause any disruption in their industries. Further, only 25% said that blockchain was already disrupting their business, the lowest share among the seven technologies polled. An even smaller 23% believed that the technology would live up to all its promises.

Oliveira added: “Tech vendors have overhyped blockchain as a business solution, and the technology’s weaknesses (limited scalabilitya and high-energy consumption) have become apparent to enterprises. If these problems are mitigated, and expectations set to more realistic levels, views might change.”

In addition to polling sentiment towards emerging technologies, GlobalData asked respondents to share their views on action taken by enterprises to improve their sustainability record. The picture was not flattering for corporations. More than two-thirds of executives were skeptical about the business world’s sincerity when it came to implementing sustainability plans. At the same time, only 50% said that their companies had changed their behavior in the last year to achieve sustainability goals.

Oliveira commented: “Sustainability will be the most significant trend impacting businesses post-COVID-19, and achieving sustainability targets should be high on every CEO’s agenda. Companies risk their reputation and revenue if they do not take sustainability seriously.”

GlobalData’s quarterly “Emerging Technology: Sentiment Analysis” report is based on six polls that received 2,250 responses from executives across 18 business sectors. The polls were conducted online in Q1 2021 on the Verdict network of B2B websites, which have 69 million unique visitors a year. The polls were designed to help GlobalData understand current sentiment of the business community towards emerging technologies and evaluate how sentiment is likely to evolve in the near future. The questions asked are a snapshot of GlobalData’s annual Emerging Technology survey.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Fintech

From Trading to Credit: Robinhood Launches No-Fee Credit Card with Gold Membership Perks

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Robinhood

Robinhood Markets Inc. has announced the launch of its highly anticipated no-fee credit card and it was accompanied by exclusive perks for Gold membership subscribers.

This bold move is a step in the company’s mission to evolve into a comprehensive financial services provider.

The Robinhood Gold Card boasts an array of enticing features. Chief among them is the absence of annual costs or foreign transaction fees, positioning it as an attractive option for consumers seeking financial flexibility.

Moreover, cardholders stand to benefit from a generous 3% cash back on all categories of purchases, a competitive offer in comparison to industry rivals.

Vlad Tenev, CEO of Robinhood, emphasized the company’s commitment to innovation and industry leadership in an interview.

He expressed the intention to not merely introduce a credit card, but to revolutionize the market with a product that sets new standards for customer satisfaction and financial empowerment.

The announcement has sparked enthusiasm among investors, with Robinhood’s shares witnessing a 6.9% surge in early market trading following the news.

This surge further underscores the market’s confidence in the company’s strategic direction and its potential to disrupt traditional financial services.

Beyond the credit card venture, Robinhood has been steadily diversifying its offerings. With the introduction of retirement products and the expansion of commission-free trading services internationally, the company is positioning itself as a formidable player in the global finance landscape.

As Robinhood continues to innovate and expand its suite of services, its trajectory suggests a promising future as a leading force in democratizing access to financial tools and services.

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Telecommunications

NCC Files Copyright Infringement Charges Against MTN Nigeria and Others

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Karl O Toriola - Investorsking.com

The Nigerian Copyright Commission (NCC) has taken legal action against MTN Nigeria Communications Ltd. and four individuals, including its Chief Executive Officer, Karl Toriola, over alleged copyright infringement.

The charges, filed in the Federal High Court, Abuja Division, revolve around the unauthorized use of musical works belonging to artist Maleke Idowu Moye.

According to the NCC, the defendants are accused of offering for sale, selling, and trading musical works of Maleke without his consent between 2010 and 2017. These works were allegedly used as Caller Ring Back Tunes without proper authorization.

The musical pieces in question include popular tracks such as “911,” “Minimini-wanawana,” and “Stop racism,” among others.

The commission further alleges that the defendants distributed these musical works to subscribers without authorization, infringing upon the rights of the artist.

The charges are based on provisions of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

As the case awaits assignment to a judge and a fixed date for mention, it marks a significant development in the ongoing efforts to uphold copyright protection in Nigeria’s telecommunications sector.

This legal action underscores the NCC’s commitment to safeguarding the intellectual property rights of artists and creators within the country.

MTN Nigeria, a major player in the telecommunications industry, now faces a legal battle that could have broader implications for how intellectual property rights are respected and enforced within Nigeria’s digital landscape.

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Telecommunications

MTN’s MoMo Sees 32.2% Surge in Transaction Volumes

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MTN Nigeria - Investors King

MTN Group’s mobile money platform, MoMo, has experienced a 32.2% surge in transaction volumes.

With 72.5 million active users, MoMo continues to solidify its position as a leading fintech service provider in Africa, tapping into the continent’s burgeoning mobile banking sector.

The company’s success underscores the growing trend of Africa’s young and tech-savvy population embracing mobile technology to address financial needs.

Mobile phones are increasingly becoming a tool for bridging gaps in services, particularly in banking, presenting a lucrative opportunity for wireless carriers like MTN to capitalize on the burgeoning fintech market.

MTN’s achievement comes as it finalizes a deal with Mastercard Inc., valuing its fintech business at an impressive $5.2 billion.

This strategic partnership further enhances MTN’s position in the digital finance space, positioning it for continued growth and innovation.

However, MTN is not alone in its fintech endeavors. Rivals such as Airtel Africa Plc, Safaricom Plc, and Vodacom Group Ltd. are also making strides in digital transformation, with plans to separate and monetize their fintech businesses in the long term.

Airtel Africa, for instance, is reportedly considering an IPO for its mobile money unit, indicating the high stakes and intense competition within the sector.

Despite the remarkable success in its fintech ventures, MTN faced challenges in its core telecommunications business, with service revenue growth slowing to 6.8%.

Inflation and currency devaluation in key markets, particularly Nigeria, impacted profitability, highlighting the complexities of operating in diverse African markets.

As MTN continues to expand its fintech footprint and invest in infrastructure to enhance connectivity across the continent, it remains poised to capitalize on the immense potential of Africa’s digital economy.

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