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BusinessDay 12 Apr 2018

Innovation Apps Fin-Tech

Innovation Apps Fin-Tech Start-up Gadgets Ecommerce IOTs Broadband Infrastructure Bank IT Security 28 BUSINESS DAY C002D5556 Thursday 12 April 2018 Apps released on Apple Store drops in 2017 FRANK ELEANYA Google Play Store appears to be winning the favourite app store contest, as the amount of apps released in the Apple App Store fell for the first time in 2017. A new data released by Appfigures showed that both Apple’s App Store and Google Play Store were growing consistently all the way up to 2017, when the former began to drop. The data found that the amount of apps released on Apple’s App Store in 2017 was 755,000, representing a 29 percent decline from 2016, when the number hit one million. It is Apple’s first drop since the App Store was launched in 2008. Meanwhile, the Google Play Store saw a surge of over 1.5 million new apps, about 17 percent rise from 2016 – the largest growth since 2014. According to Appfigures, the decline is a result of stricter enforcement of Apple’s review guidelines, as well as a technical change that eliminated many old apps that were not updated CALEB OJEWALE In this part of the world, many things that could still look like magic or at best, science fiction, are realities in advanced nations increasingly leaving us behind. While this may not be new, it also shows the urgent need for African countries like Nigeria to stop admiring technology from afar, but also actively engaging in usage. Ericsson showed some of these possibilities for a digital future in its ‘10 Hot Consumer Trends’ 2018 report which during a presentation by Olivier Vandermoten, country manager, Ericsson Nigeria, showed the world is about to move ahead with even more sophistication than previously thought. For instance, if you find yourself thinking of the possibility to “re-live” certain to support 64-bit architecture. In June 2017, Apple had sent a notification to developers that new iOS apps and updates submitted to the App Store must support 64-bit. “Support for 32-bit apps is not available in iOS 11 and all 32-bit apps previously installed on a user’s device will not launch. If you have not updated your app on the App Store to support 64-bit, we recommend submitting an update so your users can continue to run your apps on iOS 11, which will be in moments from the past, this just may be possible within the next five years, provided you have pictures from that event. Still seems strange? Well, not according to Ericsson’s report which from its findings showed consumers in the next five years will amongst other things, be able to walk through pictures from events, using virtual reality gears that make it possible to interact ‘with the past’. As more advancement are made in robotics, it has also been suggested that those not so inclined to work, though lazy may sound ‘judgmental’, could have robots doing their work, earning income for them, while they take all the leisure time they desire. The possibilities seem endless from the very desirable ones to those perhaps, not so desirable. The 10 trends for 2018 the hands of hundreds of millions of customers this fall,” Apple stated in that notice. Apple’s stance has seen the number of apps overall inside its App Store shrink by 5 percent, falling from 2.2 million to 2.1 million, whereas, Google Play, is home to 3.6 million apps, continuing a steady 30 percent rise also observed last year over 2015. Appfigure also disclosed that during the period, the number of apps being ported from one platform to the other – also known as ‘porting’ an app – increased. 10 technology trends about to change how we live and beyond as contained in Ericsson’s report include: 1. Your Body is the User Interface: More than half of current users of intelligent voice assistants believe that we will use body language, expression, intonation and touch to interact with tech devices as if they were fellow humans. Some 2 in 3 think this will happen within a mere 3 years. Olivier Vandermoten Porting an app refers to taking an app that was built for one platform and building it to run on a different platform. In 2017, over 25,000 crossed from one platform to another. More than 16,000 of those apps went to Google Play in the same year. “According to our algorithm that maps apps that cross platforms, roughly 450,000 apps are available for both iOS and Android. This is a failry decent amount, but when we look at the bigger picture, it amounts to just 8.5%,” Appsfigure stated. 2. Augmented Hearing: 63 percent of consumers would like earphones that translate languages in real time. 52 percent want to block out a family member’s snoring. 3. Eternal Newbies: 30 percent say new technology makes it hard to keep their skills up to date. But it also makes us instant experts. 46 percent say the internet allows them to learn and forget skills faster than ever. 4. Social Broadcasting: Social media is being overrun by traditional broadcasters. But half of consumers say AI would be useful to check facts posted on social networks. 5. Intelligent Ads: Advertisements may become too smart for their own good. More than half of augmented reality (AR)/virtual reality (VR) users think ads will become so realistic they will eventually replace the Takeaways from Organic Lagos startup workshop FRANK ELEANYA Starting and building a successful business in a country like Nigeria is a journey that only the brave and committed undertakes. Several statistics have it that many small businesses in Nigeria never see their third to fifth birthdays. Choked by insurmountable pressures, they die and new ones spring up from their ashes. On Saturday, 7 April, 2018, Organic Lagos, a non-profit organisation organised the maiden edition of its startup workshop aimed at equipping small businesses with the tools for entrepreneurial success. The workshop themed ‘Let’s Talk About Starting Up and building Successes’, was also an avenue to train start-ups on accessing funding. Muyi Olaitan, founder of Organic Lagos said the goal of the workshop was to expose start-ups in Nigeria to new trends and innovations to scale their businesses in a difficult environment. The various facilitators at the workshop shared from their experiences in business and dealing with start-ups – whether in the tech ecosystem or SMEs segment. Below are some of the takeaways from the workshop: Passion is everything Kola Kuddus Yusuf, chief executive officer of Kola Kuddus Couture, an African inspired fashion brand, said starting out as an entrepreneur will require passion and commitment. products themselves. 6. Uncanny Communication: 50 percent think not being able to tell the difference between human and machine would spook them out. 40 percent would also be spooked by a smartphone that reacts to their mood. 7. Leisure Society: 32 percent of students and working people do not think they need a job to develop a meaningful life. 40 percent say they would like a robot that works and earns income for them, freeing up leisure time. 8. Your Photo is a Room: Imagine being able to walk into a photo and relive a memory. 3 out of 4 believe that in only 5 years they will use virtual reality to walk around in smartphone photos. 9. Streets in the Air: City streets may be choked with traffic but the skies remain free. 39 percent think their Team: Frank Eleanya,; Caleb Ojewale, Recalling the early days of his brand, Kola told the audience that he was largely driven by the passion to make his client look unique always. Social media is not all it seems. People are always pretending on social media platforms, hence small business owners have to be careful about the ideas they get from there, according to Shade Ladipo, executive director of WE- Connect. Integrity breeds trust Businesses built on dishonesty will not last long. Customers would always be loyal to a brand they can bank their words, says Precious Ubah, assistant manager of Robert Taylor Limited. “Your focus should not be to build a business for the now, but one that can be transferred when you are gone. You have to put in the work and be part of something great,” she said. Funding only meets planning Funding is one of the issues many start-ups are always complaining about, however only a few actually are ready to access it. To be ready, Adeola Olowe, partner at The Anavo Institute, said start-ups need to know their numbers off their finger tips. For instance, what will the venture cost? What is projected cost for the next project the startup is embarking on? Knowing these numbers and being able to articulate them comes very handy in an elevator pitch situation. city needs a road network for drones and flying vehicles. But almost as many worry that a drone would drop on their head. 10. The Charged Future: The connected world will require mobile power. More than 80 percent believe that in only 5 years we will have long-lasting batteries that will put an end to charging concerns. The insights in the 10 Hot Consumer Trends for 2018 report are based on Ericsson Consumer Lab’s global research activities over more than 22 years, and draw on data from an online survey of advanced internet users in 10 influential cities across the world, performed in October 2017. Although the study only represents 30 million citizens, their early adopter profile makes them important to understand when exploring future trends, says Ericsson.

Thursday 12 April 2018 BUSINESS DAY 29 Harvard Business Review Global Business Perspectives CONNECTING THE WORLD ONE BUSINESS AT A TIME Data for Sale SUSAN FROETSCHEL EAST LANSING, Michigan — The scandal involving Facebook and data-mining company Cambridge Analytica dramatically confirms the adage of no free lunch. Facebook’s more than 2 billion users are waking up to the fact that the “free” online site extracted a stiff price: personal data. News reports that Cambridge Analytica swept up details on millions of Facebook users — then used details for targeted political advertising in many countries — jolted the industry, regulators and users. Yet users consented to data exchanges without reading pages of small print of terms of service agreements. Many companies profit handsomely from knowing the details of users’ phone calls, driving patterns, family history, credit card purchases and more. Of course, Facebook is not alone. Big-data analysis is big business. Companies continue to discover new value in crossindustry exchanges, combining forces to monetize data sets to improve services, reduce fraud, attract new customers or meet regulatory requirements. Cambridge Analytica is not alone either. In China, the Shanghai Data Exchange, started in 2017, offers a platform for trading all types of consumer information gathered from telecommunications, credit cards and more with the aim of drawing technology firms to the city. Collecting data to assess target groups is not new. Decades ago, telemarketing firms relied on typists to go through phone books, cross-listing names and numbers with other public lists. The college application process has long been a data-mining exercise to determine which applicants are likely to enroll and graduate. Patients, borrowers, students Mark Zuckerberg, the chief executive of Facebook, speaks at a conference in San Jose, Calif., April 18, 2017. Addressing for the first time the growing data privacy scandal, Zuckerberg outlined several steps the company was taking to address the issue on March 21, 2018. “We also made mistakes, there’s more to do, and we need to step up and do it,” he wrote in a post. (CREDIT: Jim Wilson/The New York Times) who fill out offline application forms are not exempt from becoming targets. Paper forms are quickly scanned into computer files. Large community events and fairs offer opportunities for data gathering. Hundreds of vendors attending large home shows hold contests to gather potential customer contacts. Computers made data collection easy. Any type of data can be packaged and marketed. Cities already provide data on properties, taxes and public health as a public service. To improve efficiency, utilities in India, Europe and the United States rely on smart meters to monitor and predict patterns of energy and water use. Committees and policies for monitoring data use and information governance so far are not keeping up with the growing numbers of organizations gathering and trading data. Data products can be specific, offering details about individuals, or aggregated to relay broad trends. Laws in the United States and Europe protect individual health, education or financial information, but do not ban aggregation as described in privacy policies, terms of agreement and license agreements. Health is an especially sensitive area, and privacy laws, even the strict new data protections to be imposed by the European Union in May, include exceptions. The EU law requires that patient data “be collected for a specific explicit and legitimate purpose” but allows that same data to “be reused for research” for the public interest purpose of driving innovative treatments. The same law limits how long patient data can be stored, “except for archiving and scientific research purposes.” Explicit patient consent is not required as long Financial firms collaborate on data collection to avoid risks. Insurers form special units for collecting drivers’ data. Digital strategies fuel growth, explains Boston Consulting Group. Companies combine online business processes with communications and services to gather data. App developers respond with entertaining quizzes, surveys and games designed to entice consumers to hand over more data. The harvest of Facebook profiles began with a small personality test, fewer than 300,000 users took part for a tiny sum, and in the process millions of friends got dragged into the net. Less than 20% of third-party app developers for Facebook’s platform are based in the United States. Developers like Elitech in India provide customdesigned applications or games that assess target audiences and prioritize user engagement. Developers can use games to assess user performance and personality with small tasks from placing an order to solving problems. Facebook encourages developers around the world to develop local apps that will lead to more local users. Asia leads the world with more than 30% of 20 million app developers while Europe and North America each have about 30%. Economic Times reports that India leads the world in Facebook users and has the second largest base of Facebook developers. Developers and social media firms worry about new regulations disrupting the growing industry. Apps and games available from Apple’s iTunes Store went from a few hundred in 2009 to more than 3 million in 2017, with downloads in the billions. Apps take advantage of the universal desires to play, un- derstand ourselves, or compare how we perform with others. Experts analyze user choices, associating interests as detected by searches and clicks with individual behavior, hunting for patterns and correlations. Some companies offer discounts to customers deemed as reliable or creditworthy; other firms hunt for gullible, impulsive spenders. Unorganized data may seem worthless, and Facebook and countless others readily opened the gates to app developers and advertisers with little attention to the ultimate goals behind data transfers. Soon after news emerged about Cambridge Analytica’s use of Facebook profiles, Mark Zuckerberg issued an apology, admitting that even social media executives had not realized the full potential of their platforms and how many insights might be gleaned. He admitted not imagining in launching Facebook in 2004 that the site could be accused of changing the course of an election. His strategy is for communities to decide their values and rules for Facebook. Users have a choice on what to share and with whom. Like it or not, big-data analysis influences communities and workplaces, and users have a responsibility to read lengthy policies with care. A lesson emerging from the Cambridge Analytica and Facebook debacle is that those who refuse to surrender data cannot evade the consequences especially when so many other users do share. Millions of friends whose data was harvested may not have given specific consent, but in the end that did not matter. (Susan Froetschel is editor of YaleGlobal Online and the author of five novels including “Fear of Beauty” and “Allure of Deceit,” both set in Afghanistan.) 2017 Harvard Business School Publishing Corp. Distributed by The New York Times Syndicate

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