The Managing Director of Kuda Microfinance Bank, Musty Mustapha, has said that Nigerian tech talents will need to embark on urgent upskilling to remain relevant in the face of the swift advancement coming to emerging technologies such as AI, machine learning, automation, and blockchain.
Mustapha stated this while giving a keynote address at the Africa Fintech Foundry Ecosystem Roundtable held in Lagos at the weekend. The warning came against the backdrop of recent reports that advancement in AI technology may lead to loss of jobs globally.
The World Economic Forum has predicted that by 2025, half of all employees globally will need to learn new skills or enhance existing ones to keep pace with these advancements.
Goldman Sachs also recently warned of AI potentially replacing hundreds of millions of jobs, while a report by the McKinsey Global Institute projects that by 2030, approximately 14% of workers worldwide may need to consider changing careers due to the impact of digitization, robotics, and advancements in AI.
According to Mustapha, this underscores the importance of learning new skills or enhancing existing ones to keep pace with technological advancements.
Continuous learning is a must
Speaking on the need for continuous learning, Mustapha said,
- “Continuous learning is a must at this time, and we have no excuse because knowledge is more accessible than it has ever been.
- “We can learn anything we want online. From YouTube to learning platforms like Coursera, edX, Udemy, and LinkedIn Learning, resources that can help us get better at what we do are at our disposal, oftentimes at no cost.”
In addition to technical proficiency, Mustapha said there is a growing recognition of the importance of soft skills in fintech careers. He emphasized the need for skills such as communication, teamwork, project management, innovation, and problem-solving, which are essential for career advancement and fostering collaboration within diverse teams.
Ethical considerations in fintech
According to him, ethical considerations are also taking center stage in Nigeria’s fintech landscape, with professionals prioritizing responsible innovation and ethical decision-making.
- “By integrating ethics into fintech-specific digital literacy initiatives, we can make informed ethical decisions, thereby contributing to the conscientious progress of emerging technologies in finance while considering their broader societal implications,” he added.
Mustapha said sustainability has also emerged as a key focus area within Nigeria’s fintech sector.
- “We must seek to acquire expertise in green fintech, sustainable finance, eco-friendly technology solutions, and waste reduction. In addition, understanding environmental policies tailored to fintech, such as responsible investing and the development of sustainable financial products, are instrumental in tackling sector-specific challenges,” he said.
He expressed confidence that as Nigeria’s fintech workforce embraces upskilling amid the technological revolution, the industry is poised for continued growth and innovation.
According to him, by prioritizing continuous learning, ethical decision-making, and sustainability, professionals are positioning themselves for success in the dynamic landscape of fintech, contributing to Nigeria’s economic development and global competitiveness.
