information and communication technology


Today the term information and communication technology is common knowledge. This can be attributed to the wide applications of ICT in society today. ICT has linked the entire world to form a global village through a number of applications.

The most prominent application of ICT in use today is instant messaging. Instant messaging has made it possible for individuals from different nations of the earth to communicate in real-time but instant messaging is not the only application of ICT. There are other applications of this technology that people around the world are using to make a profit. This paper will attempt to take off the veil and expose you to the financial benefits attainable through the use of information and communication technology.

First, we will give a proper definition of information and communication technology. ICT can simply be defined as an array of telecommunication technologies and computers which enable its users to assess, store, transmit, and utilize information. I will like you to take note of the word information.

Information is the main theme of ICT. ICT is just the means through which this information is assessed by everyone who bothers enough to make a connection. ICT is a very broad term. That means that there are many systems that qualify as ICT technologies but the beauty is that if you truly understand the concepts that will be discussed in this paper – you will be able to make profits by using any of the ICT technologies.

Before we go into that I will discuss a few ICT technologies to ensure that we are on the same page. ICT technologies include the following; personal computers, laptops or tablet PC and portable digital devices

I believe the difference between the above-listed technologies is the ease of mobility. Many may argue that personal computers are more equipped to assess information. While that was true ten years ago, a lot of improvements have been made with laptops and portable digital devices (smartphones, personal digital assistants etc.)

ICT in society


As I stated earlier, ICT in society has made it possible for individuals all over the world to communicate with each other. There are approximately 7.5 billion people in the world today and statistics show that a little over 3 billion people use ICT on a daily basis and 7 out of 10 of these users assess the internet through smartphones and the number is still growing. A study conducted in the year 2014 revealed that the number of people using the internet was growing steadily. A growth rate of 6% was recorded.

The major factor militating against access to internet usage globally is mainly political as a number of countries have failed to implement standard cellular connections within their territory. An average of 500 million people are around the world are currently living in regions without any form of cellular connectivity but efforts are being made to truly make the world a global village.

For businesses, advances within ICT have brought a slew of cost savings, opportunities, and conveniences. They range from highly automated businesses processes that have cut costs, to the big data revolution where organizations are turning the vast trove of data generated by ICT into insights that drive new products and services, to ICT-enabled transactions such as internet shopping and telemedicine, and social media that give customers more choices in how they shop, communicate and interact.

But ICT has also created problems and challenges to organizations and individuals alike — as well as to society as a whole. The digitization of data, the expanding use of high-speed internet, and the growing global network together have led to new levels of crime, where so-called bad actors can hatch

electronically enabled schemes or illegally gain access to systems to steal money, intellectual property or private information or to disrupt systems that control critical infrastructure.

ICT has also brought automation and robots that displace workers who are unable to transfer their skills to new positions. And ICT has allowed more and more people to limit their interactions with others, creating what some people fear is a population that could lose some of what makes it human.

Money from ICT

Money from ICT

This topic that will be discussed in this section is the main purpose for which this article was written. It is common knowledge that ICT is constantly growing. New models of the same technology are released and improved upon again and again.

Now the question is what this means to you as a low-budget entrepreneur or simply as an individual looking to make extra cash is you can get access to older versions of the same technology at relatively cheaper prices and begin your enterprise.

Take laptops for instance; this is the focus of big technology firms, they are constantly making advancements in this field and as a result, they are demanding their money’s worth for these advancements but the truth is you do not need the most sophisticated systems to assess the internet and manipulate information.

You can assess the internet and connect to the world with a 2010 Hp desktop computer in almost the same way as you can assess the net with the Hp pavilion.

The next question is what to do with a system once I get it. There are many jobs online for users who can read and write – they are referred to as freelance jobs but we will talk about that later.

First, let’s discuss your own ideas. With the internet, you can express your own ideas through apps or website creation and advertise them to users from different parts of the world. In essence, the internet has taken away the geographical borders. I will paint a simple picture for you so that you will get the point.

Let’s assume you create an online platform where people can come and discuss the pains they experienced in life with a community that is supportive and understands.

Now, at first sight, that seems stupid but take a look at the numbers. Let’s assume no one in your whole country is interested but the internet gives you access to the world.

Lets assume that you are able to tap 0.1% of the world with this idea, which will equal 7,000,000 users. Now let’s say you charge 10 nairas from each user monthly, that will give you 70,000,000 naira monthly. That’s just a basic idea of what you can achieve with the internet, the possibilities are endless.

Please drop your thoughts in the comment section.

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