BusinessDay 04 Feb 2018

30 BD SUNDAY
C002D5556 Sunday 04 February 2018
SundayBusiness
‘Ericsson is progressing from why and what to how’
The 2018 Mobile World Congress (MWC) will begin on Monday, February 26 and end on Thursday, March 1. Ahead of the congress, Indranil Das, head, IT &
Cloud, Middle East Region at Ericsson, speaks on the company’s focus areas at the MWC 2018, the biggest technology trend of 2018, among other issues.
What would be the primary
focus areas of your company at
the MWC 2018?
At MWC 2018, Ericsson
is here to shake
things up, focusing
not only on ‘why’
and ‘what’, but also
‘how’. We will be showcasing
how to create value from networks
and digital services for a
business – now, not just as a future
possibility. We understand
the needs of our business partners,
determining how to create
value for their business, and
pave the way for innovations
that will further the industry,
together.
We pride ourselves on helping
others to re-invent themselves,
and so we will be looking
at boosting mobile broadband,
growing IoT and 5G, engaging
through digital experience, and
innovating new technologies
and business concepts.
What, in your opinion, is going
to be the biggest technology
trend of 2018 going forward?
I believe we are at a point
of inflexion now and I have a
reason to believe that. Let me
explain the Kondratiev Cycle. It
is an economic cycle coined and
predicted by Nicolai Kondratiev
back in 1925. He predicted that
we will have economic cycles
every 40 to 50 years driven by
technological advancement.
And, there is also the reality of
the 4th Industrial Revolution.
The 3rd Industrial Revolution
was automated operations and
electronics. Linking it to Kondratiev
Cycle, it would be an
era between 1960 and 2015. So
in a way 2015 onwards we are
at the beginning of a new Kondratiev
Cycle … 4th Industrial
Indranil Das
Revolution.
As I mentioned, Kondratiev
Cycle or any industrial revolution
is accelerated by new technology
advancement. And if we
look at it from that perspective,
there are five or six technology
advances which are going to
shape up the digital future: quantum
computing/cyber security,
autonomous vehicles, consumer
manufacturing/3D printing,
blockchain, VR/AR, and how can
I forget IoT and 5G technologies?
And, our annual market research
‘10 Hot Consumer Trends’
report tells us that consumers
are already ready for tomorrow’s
technologies. Let me give
just a few examples:
Our bodies will be the user
interface – Digital technology is
beginning to operate on human
terms. More than half of current
users of intelligent voice assistants
believe we will use body
language, intonation, touch and
gestures to interact with tech
just like we do with people.
Intelligent ads – More than
half of AR or VR users think
ads will become so realistic that
the experiences will eventually
replace the products themselves.
Photo is a room – Imagine
being able to walk into a photo
and relive a memory. Three
out of four believe that in only
five years they will use virtual
reality to walk around in smartphone
photos.
How, in your view, can operators
be a valuable part of the
rapidly evolving ICT ecosystem
so that they can monetise new
streams as well?
If you had to describe today’s
service culture in one
word, it would be ‘Now’. Just
look at all the services around
us that deliver almost instantly.
We can book flights to an
exotic location while we are
heading to a work meeting,
deliver flowers to be received
the same day across the globe,
or use an app to have dinner at
a hot new restaurant delivered
to your home.
What most consumers fail to
think about is the technology
that enables a truly mobile lifestyle.
Consumers are also privy
to rewarding digital experiences
from brands such as Amazon,
Netflix and Uber. Behind the
scenes it is the mobile network
operators that have to maintain
the infrastructure and systems
being used by service providers
like these.
Despite being the enabler
for so many services that consumers
love, our research has
shown that operators often
find themselves being compared
to the digital experience
they deliver. Wherever
you are in the world, digital
transformation is all around
us and it has become critical to
transform with it.
What are some new launches
or partnerships we can expect
from your company at MWC
2018?
There will be a number of
launches and partnerships
which you can expect from Ericsson
at MWC 2018. One which
we have recently announced is
the Ericsson 5G Radio Dot. This
will enable high-capacity and
lightning-fast indoor coverage,
evolving 5G networks, boosting
throughput to over 2Gbit/s.
This device will allow for easy
upgrades from the previous system,
complementing the existing
networks that are already in
operation.
We will also be announcing
some very exciting partnerships
which will be seeing 5G evolution
truly come to life, and bring
digital transformation to those
who attend the event.
Are you promoting entrepreneurial
activities at MWC
2018 as well?
At Ericsson, we always want
to promote entrepreneurial
activity. One of our main focus
areas this year is innovation
through collaboration, and this
involves getting to utilize technology
which can open new
business opportunities. Ericsson
aims to help others explore a
new direction through industry
insights, ecosystem partners,
and commercially available
solutions. We provide off-theshelf
IoT solutions which can
make life easier for those just
starting, or who are discovering
new markets, acceleration along
business development processes,
and quickly generation a positive
outcome. These solutions will
be spoken about in more detail
at MWC.
Capricorn Digital Ltd champions efforts to advance financial inclusion in Nigeria
Mabel Dimma
Nigeria’s population and
reputation as a country
with the largest
GDP ($404.6B) in Africa
should ordinarily make her a
leader in the areas of financial access
and inclusion statistics, but
this is not so, not even with the
fact that the country’s banking
industry’s payment systems are
advanced compared to several
other African countries.
This lag affects a wide range
of Financial Service Providers
(FSPs) in Nigeria including Commercial
Banks, Micro-Finance
Banks (MFBs), Consumer Bankers
and every other deposit taking
institution licensed by the
Central Bank.
The challenge then becomes
how to replicate the success the
banking industry has recorded;
its ability to create bank accounts
for customers in predominantly
more urban areas and extend it
to include customers operating
within other formal and informal
channels; being represented
by MFBs, pension schemes, insurance
companies, informal
savings clubs (esusu, ajo), money
lenders and cooperatives.
As of today, it is no longer
news, CBN’s position on financial
exclusion, insisting that it be
brought down to 20% by 2020.
In order to achieve this, there
is a need to create and drive appropriate
regulation, policies and
guidelines that will bring this to
reality but more importantly,
proactive ideas, one of which
is the introduction of Super
Agents; a CBN approved entity
that acts as an intermediary between
FSPs and their customers,
responsible for building, maintaining
and supervising a broad
network of agents.
Currently, there are about
five CBN approved Super
Agents including Capricorn
Digital, a Lagos based digital
solutions company who have
continued actively in their
resolve to bridge the gap, expanding
their network base of
agents, building distribution
platforms and outlets that can
be used to reach mass market
customers, particularly those
living in rural and less urban
areas.
The company has, since it
got licensed, been creating
values helping to eliminate
many of the current challenges
FSPs are facing with respect to
financial exclusion by providing
agents to reach unbanked
persons, employing technology
and cutting excessive documentation.
Super Agents such as Capricorn
Digital Ltd. are a crucial
stepping stone to helping FSPs
create the distribution network
that can be leveraged to reach the
unbanked thereby bridging the
exclusion. By encouraging FSPs
to adopt them, it is believed that
the model will breed stronger
financial systems with more access
points for traditional agency
banking services (cash-in, cashout
and transfer services), which
represents majority of financial
services that most rural customers
would want to perform at
bank branch locations – effectively
now made available at all
agent locations.