Telecoms Industry Risk Management Conference: NCC Emphasizes Harnessing Emerging Technologies in Risk Management
The Nigerian Communications Commission (NCC), under the leadership of its Executive Vice Chairman/Chief Executive Officer, Dr. Aminu Maida, is intensifying efforts to enhance the telecommunications industry’s risk management practices. This commitment was reiterated during the maiden edition of the Telecoms Industry Risk Management Conference held in Ikeja, Lagos.
The conference, themed “Evolution and Future Risk Management in the Telecoms Industry: Harnessing Emerging Technologies and Trends,” brought together various stakeholders, including risk experts, academia, financial institutions, and telecommunications professionals. The event aimed to explore critical themes and strategies for managing risks in an era marked by rapid technological advancements.
In his welcome address, Mr. Kelechi Nwankwo, Head of Corporate Planning, Strategy & Risk Management Department at NCC, representing the EVC, highlighted the importance of effective risk management in the telecommunications sector. He emphasized the need to review current operating standards and introduce new standards aligned with international best practices.
The conference focused on the transformative impact of emerging technologies such as 5G networks, Internet of Things (IoT), Artificial Intelligence (AI), quantum technologies, and Blockchain on the industry. These technologies present both opportunities and challenges, including cybersecurity threats and ethical considerations.
Mr. Nwankwo emphasized the NCC’s commitment to fostering an environment that encourages innovation while ensuring the security and stability of telecom infrastructure. He called for collaboration among regulators, industry players, and stakeholders to share best practices and implement robust risk management strategies.
The conference also addressed global risks identified by the World Economic Forum, including AI-generated misinformation/disinformation and cyberattacks, underscoring the need for proactive risk mitigation strategies.
The conference highlighted the telecoms industry’s resilience and adaptability in the face of evolving risks and challenges. It emphasized the importance of staying informed, prepared, and proactive in managing risks while leveraging technological innovations to address societal, economic, and geopolitical challenges.
The NCC’s leadership in organizing such a conference demonstrates its commitment to ensuring a secure and sustainable future for the Nigerian telecommunications industry.
