The Institute of Productivity and Business Innovation Management, has emphasised the need for organisations to deploy innovative strategies to achieve their set goals and objectives in the most efficient and fastest way possible.
The institute said this becomes necessary as the world had tilted towards a knowledge-based mode where most economies invested massively in Artificial Intelligence, Internet of Things and Virtual Reality. According to IPBM, innovation is the new productivity if Nigeria is to key into the Industrial Revolution 4.0 where new kinds and features of work will emerge
The President, IPBM Remi Dairo, at an event it organised for startups, entrepreneurs, innovators and technology companies tagged “Industry 4.0 Unpacked,” said the conference was focused on the industry 4.0, where productivity had gone beyond hard work, activity, struggling, but was more about efficiency and getting faster results.
According to him, innovation is the new art of productivity. He stressed that Nigeria at 40 per cent was not yet there to drive Tech eco systems when compared to other economies of the world that currently stand at 90 per cent. He said, “We have had many people who have started deploying new businesses and we have over 200 businesses that have started but we have to mentor them to become global giants.
Also speaking at event, the Director General, Lagos State Government Office of Transformation, Creativity and Innovation, Tobi Otusanya, said the government was beginning to realise that with the right level of support, Nigeria could achieve a lot more in its Tech eco-space.
Otusanya said, “We have a huge population and technology is a way of engaging it. Commerce has managed to scale through and we need more of that. “Technology is a way of engaging people and we need to harness the talents we have into something productive and change the narrative about Africa.”