Nigerian Communications Commission identifies cyber-attack as threat to telecommunication industry

The Nigerian Communications Commission (NCC) has identified AI-generated misinformation/disinformation and cyberattacks as most likely to present material crisis on a global scale in 2024, against telecommunication industry.

Penpushing reports that Head, Corporate Planning, Strategy and Risk Management, Kelechi Nwankwo stated this in his welcome speech at the Telecoms Industry Management Conference held between February 20-21, 2024 in Lagos.

The Corporate Head of Planning therefore called for fruitful deliberations, idea exchanges and collaborations, challenge perspectives and embrace a forward-thinking mindset, noting that the telecoms industry has gone through remarkable transformations.

Penpushing further reports that Nwankwo emphasized that it is responsibility of all  to stay informed, prepared, and proactive in managing the potential risks ahead, adding that the fast-disruptive world of the telecoms industry has witnessed convergence of diverse technological advancements with the potential of reshaping our future.

‘From 5G networks, the Internet of Things (IoT), and Artificial Intelligence (AI), to Cloud Computing and beyond, the possibilities are limitless. However, with great opportunities, comes great risks, and it is our collective responsibility to address these risks and possibly safeguarding the industry’s growth and sustainability’, he said.

Penpushing also reports that he noted that the conference was a testament to collective commitment towards recognizing the evolving risks and challenges we face, while embracing the immense opportunities emerging technologies and trends bring

‘Therefore, as we gather here today under the theme, “Evolution and Future Risk Management in the Telecoms Industry: Harnessing Emerging Technologies and Trends,” we embark on a journey of exploration and discovery in a rapidly evolving landscape of the telecoms industry. We must thus analyse, adapt, and effectively manage the risks that accompany innovation and development!’

‘The World Economic Forum (WEF) in a survey of global leaders on the five risks most likely to present material crisis on a global scale in 2024, reported AI-generated misinformation/disinformation as number two (2) and cyberattacks as number five (5)’.

‘These two are technological risks. The number one (1) risk is extreme weather (environment) while numbers three (3) and four (4) are societal/political polarisation and cost-of-living crisis respectively, which are societal issues’, Nwankwo said.

Penpushing reports that he urged stakeholders to actively engage in the various sessions, dialogue openly, and contribute to fruitful discussions, stressing that by harnessing the collective wisdom and experiences present at the conference new approaches to risk management that will shape the future of the industry can be unlock.

‘Let us begin this remarkable journey together as we explore the evolution and future of risk management in the telecom industry while harnessing the benefits from emerging technologies and trends.

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