The Nigerian Risk Management industry players agreed that technology and the effective utilization of data would help achieve national business transformation. The views were part of the major resolutions at the 6^th Nigeria Risk Summit and Awards event facilitated by Conrad Clark. 

In his opening remarks, the convener of the summit and CEO of Conrad Clark, Mr. Joachim Adenusi, said businesses must take risk management seriously to address the global economic uncertainties.

He believed the summit's theme, "Tech in Risk Governance & Leadership," was apt and affirmed technology's role in driving accountability and ownership in government and organized private sector activities.

In her address, the Conference Co-Chair, Mrs. Chizor Malize, MD/CEO of FITC, said technology enables transparency in decision-making that is data-driven, from economic planning and infrastructure to services.

According to her, technology fosters accuracy through data and serves as a robust risk mitigator. She added that the GSM liberalization in 2001 transformed the economic landscape and increased investments in the country's information and communications technology sector.

She advocated for the government and private sector to work together to make tech an enabler of development, prioritizing the rural communities.

Dr. Kiran Sood, a Professor at the Chiktara Business School, India giving her keynote, highlighted the developments shaped by the fourth industrial revolution that brought the need for investments in digital skills to the fore.  

The scholar stressed the need to leverage the internet of things, IOT, to transform global socio-economic activities. 

"It is time to focus on all the risks and explore how technology can help to mitigate them. Automation is becoming a dynamic solution business can adopt to create more value."

In his particular address, Mr. Kola Adeshina, the MD of Sahara Power Group Africa, said Nigeria needs to adopt a system where data drive economic policies and planning.

He decried that Nigeria's governance and decision-making are carried out without data.  The business leader informed stakeholders that the nation was at a crossroads because of the lack of value for data.

The event featured two-panel sessions that discussed "Tech Usage and Regulatory Risks: Improving regulatory reforms to boost innovation and private investment" and "Growing Population, Future of Work and Technology: The impact of technology, robotics, and automation on the growing population."

The event highlighted the presentation of the 2022 Risk Manager of the year award to Mr. Michael Udealor of Mouka Foam.  

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