Influence of emerging tech on economy and nation-building

 

LAGOS, Nigeria –  New technologies have over time proven to create opportunities for nation-building and economic growth as they have a direct influence on every sector of the economy.

The use of technology facilitates the efficient production of more and better goods and services, which is what economic prosperity depends on. One often wonders what the influence of technology on economics is, and in what ways it has influenced economics and nation-building.

Christopher Bond gave a quote a long time ago, that answers these two questions. Bond said, “Advances in technology will continue to reach far into every sector of our economy. Future job and economic growth in the industry, defence, transportation, agriculture, health care, and life sciences are directly related to scientific advancement.”

Today, it is not hard to draw a line between growth in certain sectors in a macroeconomy and the contributions of technology. Technology influences productivity in areas such as international trading, agriculture, corporate business, and medicine, among others. This has also greatly reduced the cost of manual labour.

New technologies have found use cases in industrial expansion, and international trade and new professions are emerging every day in this field, creating jobs for many youths.

These technologies can reduce the time it takes to produce a product or provide a service, increasing a company’s overall earnings. This was why Interswitch, Africa’s leading integrated payments and digital commerce company, sponsored the 2022 Localhost Meetup, a forum to address how tech developers can “Build to Scale”.

Localhost meetup is an event that serves as a community-building platform for tech enthusiasts to discuss the possibilities of Cloud infrastructure and the adoption of DevOps in Nigeria and across the globe. The platform also enables tech enthusiasts to gather and discuss changes in the tech ecosystem. Interswitch sees the relevance of growing a community of tech enthusiasts in Nigeria as well as providing

Application Programme Interface (API) infrastructure to support their diverse digital projects and for this reason, it familiarised developers with its APIs and Developer Tools that require zero cost to integrate. Participants were able to leverage on Interswitch’s large arsenal of robust APIs with access to implementation protocols that are in continuous delivery with Policy as a Code and Open Policy Agent, components of the API. The API infrastructure allows a smooth integration of vital features for users’ optimal experiences when developing their products from start to finish.

In this way, tech enthusiasts, who are poised to shape the future, are empowered using technology to shape the African narrative by providing bespoke solutions to address local challenges.

The African payments giant’s commitment to growing a community of tech experts in Nigeria is unwavering as it is enabling systems and enterprises for the coming generation. Localhost Meetup was a platform for Interswitch to showcase its robust API and an avenue to network with key stakeholders in the industry.