The Nigerian Communications Commission (NCC) and other key players are emphasising the importance of effective risk management as they adapt to the ever-changing landscape of emerging technologies. The telecommunications industry is leading the way in innovation during an age of fast-paced technological progress, revolutionising the methods of communication, connection, and business operations for people worldwide. The stakeholders highlighted the critical juncture where tradition intersects with transformation on a global scale. They emphasised how the evolution of technology and emerging trends offers unique opportunities alongside formidable obstacles.
At the recently concluded convention in Lagos, centred around the theme: “Evolution and future risk management in the industry, harnessing emerging technologies and trends”, Dr. Aminu Maida, the Executive Vice-Chairman of NCC during his speech, emphasised the importance of looking ahead to the future of wireless communication. He noted that as discussions about the vulnerabilities of 5G networks continue, it is crucial also to consider the emergence of 6G technology. This new frontier will bring about even more connected devices and denser network infrastructure, requiring them to be proactive in addressing potential security issues.
Each emerging technology comes with a series of challenges.
6G technology is on the brink of changing the connectivity game with its promise of increased speeds, reduced latency, and innovative applications. This advancement brings with it the need to tackle emerging risks, such as cybersecurity threats and ethical dilemmas, to create a secure and inclusive digital landscape. As they look towards the future, the possibility of 7G technology also emerges on the horizon. With every new generation comes a wave of technological progress and a unique array of obstacles that must be acknowledged as they consider the future.
Working together to address and handle the potential dangers of 7G necessitates teamwork, creativity, and a forward-thinking strategy to guarantee the smooth assimilation of this tech into the globally connected society. Alongside the progression of connectivity, the impact of up-and-coming advancements like quantum computing, sensing, and communications, as well as cutting-edge artificial intelligence and distributed ledger technologies, must also be considered. When utilised correctly, these emerging patterns have the power to revolutionise the field constructively. Yet, they also bring about intricate challenges that need to be thoughtfully addressed in our risk management plans.
Risk awareness is essential for industry employees to be informed.
According to Maida, it is crucial to establish a culture of risk awareness. The industry needs to provide its employees with the necessary tools and information to recognise and communicate risks in advance. They should also integrate security awareness and risk management into their daily business operations. Utilising innovative technologies like AI can help them gather the data-driven information required to anticipate, identify, and address risks promptly. He emphasised the importance of constantly monitoring new risks and weaknesses, as well as improving the response procedures to ensure the telecommunications sector remains strong and secure.
Mr. Ezekiel Hussein, the Chairman of the Council Chartered Risk Management Institute, expressed his appreciation for the conference, describing it as a positive step taken by the NCC. He emphasised the importance of incorporating risk management practices into public engagement and mentioned that a bill has been presented to the National Assembly to integrate risk management functions into all MDAs. Risk management is now an integral part of operations, and it is essential for the public sector to give it the attention it deserves.
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Lastly, Kelechi Nwankwo, the Head of Corporate Strategy and Risk Management at NCC, emphasised the importance of navigating the dynamic telecoms industry landscape. He stressed the need to carefully analyse, adapt to, and mitigate risks that come with innovation. The rapid changes in technology within the telecoms sector have the potential to reshape the future. The endless possibilities of 5G networks, the Internet of Things (IoT), Artificial Intelligence (AI), Cloud Computing, and more are inspiring. Yet, these advancements also bring significant risks. It is their duty as a community to tackle these risks and protect the industry’s future growth and stability.
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NCC: Website
