THE Nigerian Communications Commission (NCC) has said it will intensify consultation with the relevant stakeholders in Telecom Industry including Media executives to review the current operating standards and introduce new measures which are in line with international best standards and practices
Executive Vice Chairman/CEO, NCC, Dr. Aminu Maida disclosed this at the maiden edition of the Telecoms Industry Risk Management Conference, organized by the Commission held at the Radisson Blu in Lagos recently and the title of the event is “Evolution and Future Risk Management in the Telecoms Industry: Harnessing Emerging Technologies and Trends”.
Dr Maida has it that in an era marked by rapid technological advancements, the telecommunications industry finds itself at the forefront of innovation, shaping the way we communicate, connect, and conduct business. As we navigate this dynamic environment, the need for effective risk management becomes increasingly paramount. Today, we stand at the crossroads of tradition and transformation, where emerging technologies and trends present both unprecedented opportunities and challenges.
He said “Telecoms Industry Risk Management Conference,” is a gathering that brings together various stakeholders that includes- risk experts, academia, financial institutions, and professionals in telecommunication industry.
“In an era marked by rapid technological advancements, the telecommunications industry finds itself at the forefront of innovation, shaping the way we communicate, connect, and conduct business. As we navigate this dynamic environment, the need for effective risk management becomes increasingly paramount. Today, we stand at the crossroads of tradition and transformation, where emerging technologies and trends present both unprecedented opportunities and challenges.
While we discuss the current landscape of 5G networks, which boast of wider attack surface due to the increased number of connected devices and denser network infrastructure, it is imperative to even cast our gaze into the future. We are witnessing the dawn of 6G technology, the next frontier in wireless communication. With promises of even faster speeds, lower latency, and groundbreaking applications, 6G has the potential to revolutionize the way we experience connectivity. However, with this advancement comes the responsibility to address new risks, from cybersecurity threats to ethical considerations, ensuring that we pave the way for a secure and inclusive digital future.
“Looking beyond, the prospect of 7G technology also looms on the horizon. As we contemplate the possibilities, we must acknowledge that with each generational leap, we face not only technological advancements but also a fresh set of challenges. Anticipating and managing risks associated with 7G will require collaboration, innovation, and a proactive approach to ensure the seamless integration of this technology into our interconnected world.
“In addition to the evolution of connectivity, we must consider the implications of emerging technologies such as quantum technologies (computing, sensing, and communications), advanced artificial intelligence, and Block Chain (distributed ledger) technologies. These trends, when harnessed effectively, hold the potential to transform our industry positively.
Maida assured that NCC is committed to fostering an environment that encouraged innovation while prioritizing the security and stability of nation’s telecom infrastructure.
“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. We should therefore 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.
More importantly, Dr Maida said in this two days session, let us not only address the challenges posed by current technologies but also anticipate and prepare for the opportunities and risks associated with the evolution towards 6G and beyond. Together, we can ensure that the telecoms industry not only adapts to change but thrives at the forefront of technological innovation.
Head, Corporate Plannings, Strategy and Risk Management (HCPSRM) of the commission, Mr Kelechi Nwankwo during his welcome address at the conference, reaffirmed that NCC was looking at reviewing the current operating standards and introducing new standards, in line with international best practices.
He said this was to facilitate resilience in the communications industry and urged participants at the conference to analyse, adapt and effectively manage the risks that accompany innovation and development.
“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.
“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,” he said.
Nwankwo also maintained that the telecoms industry has gone through remarkable transformations, adding “it is our responsibility to stay informed, prepared, and proactive in managing the potential risks ahead.
To cap it all, he said “By harnessing the collective wisdom and experiences present in this conference, we can unlock new approaches to risk management that will shape the future of the industry.”
