FROM THE RICHEST COMPANY TO ZERO

I found this context intriguing, especially as the world advances rapidly in technology. Newly acquired skills are generating discussions, such as the AI humanoid robot developed by Elon Musk and the proposed air taxi service in the UAE.

Backward nations need to take swift action to innovate. In Nigeria, insecurity could have been drastically reduced if new approaches had been tactically employed over the years. This also applies to vulnerable nations in Asia and Africa. While the world is progressing quickly, human resources are increasingly being replaced by AI innovations.

The accompanying photo illustrates the need for improvement in academics, national economic reform, agriculture, and industrialization.
Both the cameraman and the pilot lost their jobs due to these shifts.
Remember Kodak? In 1997, Kodak had around 160,000 employees and accounted for about 85% of the world's photography. Yet, with the rise of mobile cameras, Kodak could not adapt and eventually went bankrupt, resulting in massive layoffs.
Many other prominent companies have also failed to keep up, including:

- HMT (watches)
- Bajaj (scooters)
- Dyanora (TVs)
- Murphy (radios)
- Nokia (mobile phones)
- Rajdoot (bikes)
- Ambassador (cars)

None of these companies offered poor quality; their downfall was due to their inability to evolve.
Looking at the present, it’s hard to imagine how much the world could transform in the next 10 years. Today, 70% to 90% of jobs may become obsolete within that time frame as we enter the era of the Fourth Industrial Revolution.

Consider today’s successful companies:
- Uber, a software company, is now the world's largest taxi service, yet it owns no cars.

- Airbnb is the largest hotel company globally, despite not owning a single hotel.
Other examples include Paytm, Ola, and Oyo Rooms.
In the U.S., there’s a lack of jobs for new lawyers because a legal software called IBM Watson can advocate more effectively than many human lawyers. As a result, almost 90% of American lawyers may not find work within the next decade, leaving only 10% of experts who can adapt.

Similarly, software can detect cancer and other diseases four times more accurately than humans, leading healthcare to shift dramatically. By 2030, computer intelligence is expected to surpass human intelligence.
In the next 20 years, 90% of today’s cars may vanish from the roads, replaced by electric or hybrid vehicles. Gasoline consumption will decline, potentially leading oil-producing countries into economic challenges.

IShortly to travel, you will simply request a ride through an app like Uber, and a driverless car will arrive at your location. Carpooling will make the cost per person even lower than riding a bike.
Driverless technology could reduce accidents by 99%, which might eliminate the need for car insurance companies 

Many jobs related to car driving will cease to exist as the number of vehicles on the road diminishes. Just a decade ago, STD booths were common; now, their closure was driven by the mobile revolution. The few that survived became mobile recharge shops, which are now also becoming obsolete due to online recharging.

The concept of money is evolving too. Cash has largely given way to "plastic money," including credit and debit cards. Now, mobile wallets like Paytm are becoming the norm.

Those who cannot adapt to changing times will inevitably be left behind. It's crucial to keep evolving with the times and continue creating valuable content.

Nigerian wake up from your slumber!

Nigeria leader should abstain from the act of selfish habit...

We are in the era of digital not analogue, let's operate digitally and be wise about that for not to abuse the transformational change. 


Yoruba Heritage 

Afolayan Gbenga 

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