David-West: AI regulation crucial to address cybersecurity, privacy risks

In a recent interview with CNBC Africa, Olayinka David-West, the Dean of Lagos Business School, emphasized the critical need for structured artificial intelligence (AI) regulation to tackle cybersecurity risks, data privacy concerns, and ethical challenges. Speaking at the RMB Nigeria Economic Forum, David-West highlighted the importance of digital sovereignty, responsible AI use, and collaboration between policymakers and businesses to ensure that Nigeria is not only a consumer of digital products but also an active participant in shaping the future of technology. David-West's discussion centered on identifying blind spots in cybersecurity, AI implementation, data protection, and connectivity in Nigeria. She underscored the vital role of technology as a catalyst for business growth and societal development, emphasizing the need to empower the youth and the general population to leverage technology for productive purposes. However, she cautioned that along with the benefits of technology come challenges such as identity and privacy protection, cyber threats like ransomware attacks, and the ever-expanding threat landscape. The interview shed light on the intertwined nature of technology and cybersecurity, with David-West advocating for the utilization of AI as a tool to combat cyber threats and enhance productivity. She stressed the importance of translating macro-level discussions on productivity and growth into tangible benefits for individuals in their daily lives. This necessitates a paradigm shift towards a digital mindset and a focus on leveraging connectivity and broadband access as enablers of economic and social progress. Addressing the ethical dimensions of the digital era, David-West highlighted the significance of responsible data use and the management of underlying principles in AI applications. She raised concerns about deep fakes and the responsible handling of data to prevent misuse or malicious intent. Furthermore, she emphasized the need for educating and empowering individuals to understand the ethical implications of emerging technologies, combat discriminatory practices, and address bias in algorithmic decision-making. Moreover, David-West underscored the imperative of enhancing Nigeria's digital sovereignty to actively participate in global discussions and shape digital policies. By fostering a culture of ethical AI use, continuous learning, and adaptability in regulatory frameworks, she emphasized the agility required to keep pace with technological advancements and mitigate evolving risks. In conclusion, the interview with Olayinka David-West highlighted the multifaceted challenges and opportunities presented by AI, cybersecurity, and digital transformation in Nigeria. By advocating for robust AI regulation, promoting responsible data practices, and fostering collaboration between stakeholders, David-West emphasized the transformative potential of technology when harnessed ethically and securely for the advancement of society.