Technology Innovation, Key To Economic Growth- Wigwe | Independent Newspapers Limited
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Technology Innovation, Key To Economic Growth- Wigwe

Posted: Dec 11, 2015 at 7:47 am   /   by   /   comments (0)

By Bamidele Ogunwusi
It has been stated that for any country to grow its economic and
political potentials there must be a considerable investment in
technological innovation.
Chief Executive Officer (CEO) of Access Bank Plc, Mr. Herbert Wigwe,
stated yesterday at the 2015 Access Conference hosted in Lagos
yesterday by Access Bank. He said more than ever before  innovation in
technology  has been identified as the key to the growth of financial
services sector and the economy of any nation.
Speaking  on the theme of the conference titled: ‘Leading in a
Transformational World – the Imperative of Innovation’, Wigwe said
leadership in transformation world would not only benefit from
innovation but demand innovation.
He said it is patently obvious that leaders have to operate in a world
that is quickly and radically changing on a global level adding that
the growing complexity of today’s borderless environment could some-
times appear overwhelming.
“More than ever, leaders have to make rapid decisions that are often
dictated by the seismic shifts taking place in fields as diverse as
economics, the environment, geopolitics, society and technology.
Technology is now the big elephant in the (board) room. No leader can
afford to ignore its extraordinary, transformational and very
disruptive power.
Technology has and will continue to change the way we address our
daily lives – for the better and potentially for the worse, the trend
is inescapable.
Today’s technology has impacted many aspects of our private lives, as
well as every single global industry – the obvious ones being
financial services, retail, manufacturing, but also agriculture,
accounting, law, education and so on.
Innovation also disrupts the “inner-life” of companies; including
their organisational structures, jobs and the workplace, customer
interactions and business models themselves,” he said.
Wigwe noted that life-changing innovations popping up in unexpected
places around the globe with breakthrough developments in sectors such
as nanotech, biotech, artificial intelligence, robotics and more,
would affect every sector of the global economy.
A Professor at Swedish Academy of Science, Hans Rosling who said
Nigeria has the potential of marching other world leaders advised
government to ensure that enabling environment is created for business
in the country.
“It is not the responsibility of government to create many jobs but it
is her responsibility to create enabling environment for business,”
Rosling said.
In his opening address, the Governor of Lagos State, Mr. Akiwumi
Ambode said leading a transformational world through innovation
implies creating conditions that promotes entrepreneurship and
facilitating an environment where entrepreneurship can thrive.
This, he said, is the challenge of the state government.
“I want to use this opportunity to announce the establishment and
commencement of ‘Pitch at Lagos, from next year. This is an initiative
through which we will identify the best of our young entrepreneurs for
the purpose of supporting and promoting their enterprise.
“I am very pleased to report that both the Former President Olusegun
Obasanjo and Aliko Dangote have consented to the sponsorship of this
initiative,” Ambode noted.