What is the Digital Economy?
The digital economy refers to the global network of economic activities, commercial transactions, and professional interactions facilitated by information and communications technologies (ICT). In essence, it represents an economy that is based on digital technologies. The term “digital economy” was first coined by Don Tapscott in his bestselling book “The Digital Economy: Promise and Peril in the Age of Networked Intelligence,” published in 1995.
Why is the Digital Economy Important?
The digital economy holds great significance as it presents opportunities for organizations and individuals to enhance their tasks’ execution, making them more efficient and often radically different from traditional methods. Leveraging technology allows for the execution of tasks and engagement in activities that were previously impossible. It enables innovation, leading to improved performance, novel endeavors, and the ability to excel in various fields.
Entrepreneurs in the Digital Economy
A plethora of entrepreneurs have capitalized on the technologies driving the digital economy to establish new companies and innovative business models that were previously inconceivable. Notable examples include ride-sharing platforms like Uber, Bolt, and Lyft, home rental services like Airbnb, and on-demand content providers such as Netflix and Spotify.
About #IDCL2023 – How to be Consistent in Business in a Digital Economy
This year’s event features prominent Nigerians who have achieved success in their respective business ventures and are eager to share their experiences. The free seminar aims to give back to society, especially the youth seeking guidance on starting their own businesses or understanding the Nigerian economy in the 21st century. The target audience for the event is individuals aged 18 to 35, although it is open to the general public.
As of now, more than 300 people have already registered for the seminar, scheduled to take place in Abuja on the 4th of August. The event will feature notable Nigerians, including Obi Iyiegbu (popularly known as Obi Cubana), Dr. Emmanuel Idenyi Shaibu (known as the Millennium Entrepreneur), Victor Prince Dickson (an expert in instructional innovation and founder of Skillcomvalley), Ifiokobong Ating (specializing in advertising dynamics), and Deno Vour Bon.
Importance of the Seminar
This seminar is of great importance to the country, particularly the young Nigerians, as it has the potential to impact the nation’s future. The recent Gross Domestic Product (GDP) report by the National Bureau of Statistics indicated that the information and communications technology (ICT) sector contributed 18.44% to Nigeria’s GDP in the second quarter of 2022, demonstrating a 6.55% growth rate from the previous quarter. The non-oil sector was significantly driven by telecommunications, trade, financial institutions, transportation, agriculture, and manufacturing. Moreover, economic activities around telecoms and trade services picked up after the COVID-19 pandemic, presenting a massive opportunity for youths from all sectors of the economy to capitalize on the digital economy, realize their dreams, and maintain consistency in their endeavors.
About Indulgence Digital Concept
Indulgence Digital Concepts Limited, known as IDCL, is a rapidly growing advertising agency in Nigeria renowned for its innovative advertising strategies. The company specializes in digital marketing, traditional advertising, brand activation, and business consulting. IDCL has collaborated with numerous local and international organizations worldwide, providing essential support to businesses in today’s market, including establishing a strong social media presence.
The event will be hosted by Oluwakemi Olorode, the brilliant business expert, communicator, entrepreneur, business consultant, and child rights activist from Isundurin, Ejigbo local government in Osun state, Southwest Nigeria. Oluwakemi has an impressive background, having worked with organizations like the Nigeria Television Authority (NTA) and Helwelt System Limited, Tech Republic, Pyrich Group, and Hot FM Nigeria before founding IDCL. She is a renowned speaker on various topics, including business, career development, entrepreneurship, youth, and women affairs, and has actively volunteered for the United Nations, ECOWAS, Beyond the Classroom Foundation, and other non-governmental organizations.