Zenith Bank Plc hosted its highly anticipated Tech Fair 4.0 on Thursday November 21, solidifying its commitment to fostering innovation and technological advancement in Nigeria.
Held at Eko Hotel, the Zenith Tech Fair 4.0 brought together industry leaders, tech enthusiasts, startups, and stakeholders to explore cutting-edge technologies shaping the future of business and lifestyle.
Highlights of Zenith Bank Tech Fair 4.0
Dr. Jim Ovia, the founder and chairman of Zenith Bank, inspired thousands of people who gathered at the event, emphasizing the importance of the annual tech fair.
Dr. Ovia also spoke about future plans to properly integrate technology in Zenith Bank for better and more efficient services.
Dame (Dr.) Adaora Umeoji, the group managing director of Zenith Bank Plc, in her welcome address, appreciated the chairman, Dr. Jim Ovia, for birthing the idea that led to the establishment of the tech fair initiative five years ago.
She thanked him for his vision in utilising technology to revolutionise the world of business and banking.
Dame Umeoji also stressed the importance of innovation and embedded finance in ensuring strong and enduring institutions.
According to her,
“It is paramount that we adapt and adopt technology to stay ahead of the curve. We have seen various cases of companies that failed because of their lack of innovation. It is quite obvious that when companies fail to innovate, they can easily be displaced. So, this is not the time to be orthodox; innovation should be a top priority for us.”
The GMD said Zenith Bank remains committed to providing digital solutions that empower businesses and individuals.
In his goodwill message, Mr. Babajide Sanwo-Olu, the Governor of Lagos State, called for a global approach to doing business in the country.
“What we need to do is to be able to enhance our product and services in order to compete in the world. We can’t continue to act local, we need to think global. Anything that we’re doing now, we need to be able to know that we are not just serving a local market, we actually want to serve the global market, and I’m glad that consistently, for the past four years, I have kept up with the Zenith Tech Fair.
Inspiring Keynote presentation
Robin Speculand, an expert digital implementation specialist graced the event all the way from Singapore.
He took the audience through series of trivia and quizzes to help them understand the evolving digital transformation landscape.
Speculand stated that for business to grow and evolve its technology there has to be a digital mindset. He expatiated on digital mindset thus;
“Empowerment: every business must carry the mindset that their services must empower people
“Platforms: the digital mindset allows businesses make use of multiple platforms that can be accessible by anyone
“Experimentation: a business must be ready to try out new things and take risks.
“Asking the right questions: a digitally minded person must know the right questions to ask
“Customer centric: the business must focus on what the customers want and tailor the products or services to suit their needs.
“Stakeholders: the business must have powerful stakeholders that are also very knowledgeable and experienced in the tech space
“Agility: a digitally minded business must be active and quick
He also mentioned that, digital transformation fails sometimes because some companies want to change the entire culture of the people or because they are transforming their entire business thereby losing the policy that the customers have come to trust.
“Digital transformation is not about having a digital strategy it is about having strategies in a digital world. Also, at the heart of digital transformation always comes the customer”, he said.
Danilo McGary, a renowned expert in digital transformation and AI, also enlightened the audience about the possibilities of artificial intelligence (AI).
“AI has been in existence for over 60 years but was not really developed until now. There are three kinds of AI; Narrow AI; Traditional AI which is the regular AI that helps in answering questions just like ChatGPT or Gemini, and Artificial Generative Intelligence (AGI) is an AI system that can do anything a human or a group of humans can do and do it even better”.
“The Generative AI has advanced so much that it can learn things on its own without any prompt or instruction”, he said.
Dr. Jania Okwechime, the partner and AI | data leader for Deloitte, Africa, added that generative AI helps to increase efficiency and transform businesses.
“Gen AI can be used for fraud detection to prevent cybercrimes. It can also be used for document search and synthesis”, she said.
Panel Discussions | Technology in Business and Governance
The Zenith Tech Fair 4.0 also featured panel session with Wole Olutoye, Ada Jabaru, Funke Opeke, Guy Kuti, Kashifu Inuwa Abdullahi, Engr. Bisoye Coker-Odusote, Dr. Anuwal Adam Sa’ad, speaking.
They unanimously agreed on the need to cautiously improve application of technology to every sector of the economy, especially the health sector to promote efficiency, accuracy and effectiveness, securing of documents to avoid impersonation and theft, amongst other discussions.
Innovative Product Launches and Exhibitions
The tech fair served as a platform for unveiling groundbreaking solutions. Leading exhibitors, including Ethnos, ZOHO, Zone, Vertiv, ZamZamPay, Dataflex, Zenith Insurance, etc, showcased products ranging from AI-powered cybersecurity solutions, data centre tools to cutting-edge fintech innovations.
[Photo Credit: Techeconomy /Peter Oluka NOVEMBER 21, 2024 at Eko Hotel, Lagos]
Zecathon
Meanwhile, 10 contestants in the hackathon session at the fourth edition of the Zenith Tech Fair (#ZenithBankTechfair2024) received a total of N77.5m in prize money.
The winners emerged at the tech fair themed ‘Future Forward 4.0: Embedded Finance, Cybersecurity & Growth Imperatives – The Impact of AI,’ held on Thursday in Lagos.
The prize money was shared among 10 finalists who emerged from the over 1,700 contestants took part in the hackathon [READ MORE HERE].
Zenith Bank’s Digital Innovation
The bank demonstrated its pioneering digital banking services, reinforcing its role as a leader in Nigeria’s financial technology space. Attendees experienced live demonstrations of the bank’s seamless payment solutions, mobile apps, and innovative tools designed to enhance user experience.
Driving Nigeria’s Tech Ecosystem Forward
Zenith Bank Tech Fair 4.0 emphasized collaboration as the key to accelerating Nigeria’s tech ecosystem. By connecting innovators, investors, and businesses, the event underscored Zenith Bank’s leadership in promoting technology as a driver of sustainable development.
Social Media Buzz
The event trended on social media platforms, with the hashtag #ZenithBankTechFair4 gaining traction among attendees and tech enthusiasts. Users shared highlights, photos, and key takeaways, further amplifying the fair’s impact.
Looking Ahead
As Zenith Bank Tech Fair 4.0 concludes, anticipation builds for the next edition. With its dedication to championing innovation, Zenith Bank continues to pave the way for technological progress and digital transformation in Nigeria.
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