Author: Akin Naphtal

Social media giant, Meta, which operates platforms such as WhatsApp, Instagram, and Facebook, profited a 73% increase in net income for the second quarter of 2024, reaching $13.47 billion. This rise follows the company’s impressive earnings report, highlighting strong performance in its core advertising business amid ongoing investments in artificial intelligence (AI). Meta shares were up more than 7.5% in premarket trading, reflecting investor optimism after the company’s second-quarter earnings exceeded analysts’ expectations. The stock had already gained 2.5% by market close on Wednesday. The positive financial results have reassured investors after a less favorable response to the company’s previous…

OpenAI’s Chief Executive, Sam Altman has announced a collaboration with the United States Safety Institute to provide early access to its forthcoming generative AI model for safety testing. This partnership, revealed in a post on X, aims to assess and address potential risks in AI platforms. The U.S. AI Safety Institute, a federal body under the National Institute of Standards and Technology (NIST), focuses on ensuring the safe and secure development of AI technologies. OpenAI’s agreement to work with the institute follows a similar arrangement with the U.K.’s AI safety body in June. These moves appear to counter claims that…

In an age where digital infrastructure is both a lifeline and a liability, organizations are under increasing pressure to deliver seamless experiences while managing complex IT systems. The recent global outage served as a stark reminder of the fragility of these systems, highlighting the critical need for rapid and efficient incident response. In this landscape, generative AI (GenAI) and automation are emerging as powerful tools to enhance operational resilience and risk management. PagerDuty, a leader in digital operations management, is at the forefront of this transformation. The company is integrating cutting-edge GenAI capabilities into its Operations Cloud, aiming to empower…

Google has announced the selection of 10 startups for its Africa Accelerator Programme, a three-month virtual initiative aimed at empowering African startups to leverage technology in addressing some of the continent’s most pressing challenges. In a statement released by the tech multinational, it emphasized the crucial role startups play in driving economic growth and technological advancement in Africa. Despite the ongoing “funding winter” in Sub-Saharan Africa, marked by a slowdown in investment, Google highlighted the resilience and creativity of African entrepreneurs. Since its inception in 2018, the Google for Startups Accelerator Africa program has supported 106 startups from 17 African…

IBM Security’s report reveals that severe staffing shortages are exacerbating the financial impact of data breaches while adopting AI is helping to mitigate these costs. The report tagged “Cost of a Data Breach” highlights a significant rise in the cost of data breaches, marking the largest increase since the COVID-19 pandemic. According to IBM, the global average cost of a data breach in 2024 has surged to $4.88 million, a 10% increase from the previous year. The report underscores the impact of staffing shortages on breach costs. Organizations facing severe staffing issues reported an average breach cost of €5.28 million,…

eMedia Holdings has revealed future plans for its eVOD streaming service, following a significant viewer adoption report. Launched in August 2021, it has registered 1.13 million users, according to the company’s annual report for the 2024 financial year. While eMedia has not disclosed the number of active eVOD users, the report highlighted a 19% increase in watch time over the 2023 financial year, reaching a total of 1.3 billion minutes. Looking ahead, eMedia plans to expand its applications for smart TVs, enhancing the service’s accessibility and user experience. The eVOD platform, featuring both free and subscription-based components, was introduced to…

The Old Mutual Group and the Kenya Institute of Curriculum Development (KICD) have launched an online financial literacy programme targeted at junior and senior school teachers, to enhance financial literacy among students. This initiative aims to mainstream financial literacy education within the existing Competency-Based Curriculum (CBC), covering pre-primary to senior school levels. Developed in response to studies revealing low financial literacy among Kenyans, the programme seeks to strengthen the capacity of teachers to deliver financial education through high-quality and engaging digital and non-digital content resources. Prof. Charles Ong’ondo, KICD Chief Executive Officer, praised Old Mutual Group for its commitment to…

Skybox Security Research Lab has released its 2024 Vulnerability and Threat Trends Report, revealing a significant increase in cybersecurity threats, with over 30,000 new vulnerabilities published last year. This equates to a new vulnerability being discovered every 17 minutes. The report indicates that nearly half of these vulnerabilities were classified as high or critical, creating a “focus gap” for security teams. The overwhelming volume of threats challenges organizations to prioritize effectively, potentially leaving critical risks unaddressed and increasing exposure to cyberattacks. The CEO of Skybox Security, Mordecai Rosen, stressed the necessity of a comprehensive approach to vulnerability management. He advocated…

eTranzact International has expressed its commitment to becoming a regional leader in the electronic and mobile payment industry. This was highlighted during the company’s 20th Annual General Meeting held in Lagos, where the Chairman, Mr. Wole Abegunde, outlined the company’s strategic goals. “We are poised and committed to being a regional leader in the medium term and, in the long term, a global leader in the electronic and mobile payment industry,” said Abegunde. He emphasized that eTranzact will continue to offer secure, cost-effective, and innovative payment services compliant with globally recognized standards. During the meeting, Abegunde presented the company’s financial…

Microsoft has announced an upgrade to the web variant of Microsoft Excel, introducing a modernised look designed to align Excel web with the more rounded aesthetic of the Microsoft 365 platform, featuring a “Simple. Easy. Delightful” visual overhaul. In a blog post unveiling the update, Microsoft revealed that the updated Excel now features slightly larger sheets, columns, and rows, offering a less rigid and more structured appearance. This change brings a fresh, modern feel to the software. The colours in data fields are now more vibrant, contrasting with the new neutral light grey window theme that replaces the traditional green.…