The Nigerian Communications Commission (NCC) has urged telecom stakeholders in the country to leverage on emerging technologies such as AI to generate data-driven insights needed to predict, detect, and respond to risks in real-time.
Executive Vice Chairman and Chief Executive Officer of the NCC, Dr Aminu Maida, at the Telecoms Industry Risk Management Conference held at the Radisson Blu Hotel, Ikeja, Lagos, February 20, 2024. The theme of the conference was, ‘Evolution and Risk Management in the Telecoms Industry: Harnessing Emerging Technologies and Trends’
“We should also monitor evolving threats and vulnerabilities on a continuous basis and streamline incidence response processes to build a resilient telecom industry.”
He also said that the commission is at the same time prioritizing the security and stability of the telecom infrastructure.
He explained that, “As we navigate through 5G and the uncharted territory of the next generations of wireless technologies, collaborative efforts among regulators, industry players, and other stakeholders become even more crucial for sharing best practices, threat intelligence, resources and implementing robust risk management strategies.”
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He therefore stressed the need for stakeholders to move beyond mere compliance and reactive measures, and instead, harness the power of these new technologies and trends to build a resilient and future-proof industry.
According to him, building a culture of risk awareness has become paramount, emphasizing that, “as an industry, we must empower our people with the knowledge and skills to proactively identify and report risks and embed security awareness and risk management practices throughout our business processes.”
Stressing further the need for a collaborative effort in achieving that, Dr Maida said, “you would recall that in my engagements with the industry and media, I had stated that collaboration is a key driver of my leadership.
“Together, we can build a shared understanding of emerging risks and develop comprehensive mitigation strategies,” he insisted.
Earlier in his welcome address, the Head, Corporate Planning, Strategy and Risk Management of NCC, Mr. Kelechi Nwankwo, harped on the need for the industry to analyse, adapt, and effectively manage the risks that accompany innovation and development.
He said the fast-disruptive world of the telecoms industry has witnessed convergence of diverse technological advancements with the potential of reshaping our future.
According to him, “From 5G networks, the Internet of Things (IoT), and Artificial Intelligence (AI), to Cloud Computing and beyond, the possibilities are limitless.”
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He stated however that “with great opportunities comes great risks, and it is our collective responsibility to address these risks and possibly safeguard the industry’s growth and sustainability.
“This conference is a testament to our collective commitment towards recognizing the evolving risks and challenges we face, while embracing the immense opportunities emerging technologies and trends bring.
“Together, we will engage in discussions, gain key insights from industry experts, share experiences, and develop strategies to navigate through this ever-changing landscape.”
To this regard, Nwankwo concluded that “how we can mitigate technological risks and use technological innovations to provide solutions to address environmental, societal, economic (disruption of supply chains for critical goods and resources) and geopolitical (attacks on critical infrastructure) challenges, appears critical.”