Business
South Korea unveils AI Humans
South Korea Pulse9 has created digital humans for some of South Korea’s largest conglomerates, including Shinsegae, with research indicating the global market for such life-like creations could reach $527 billion by 2030.
In South Korea, AI humans have enrolled as students at universities, interned at major companies, and appear regularly on live television driving sellouts of products from food to luxury handbags.
Her face is a deep fake. Her body belongs to a team of similar-sized actors. But she sings, reads the news, and sells luxury clothes on TV as AI humans go mainstream in South Korea.
Meet Zaein, one of South Korea’s most active virtual humans, who was created by Pulse9, an artificial intelligence company that is working to bring corporate dreams of the perfect employee to life.
But Pulse9 says this is only the beginning. They are “working on developing the technology to broaden AI human use”, Park Ji-eun, the company’s CEO, told AFP.
“Virtual humans are basically capable of carrying out much of what real people do,” she said, adding that the current level of AI technology means humans are still needed – for now.
The demand for AI humans in South Korea was initially driven by the K-pop industry, with the idea of a virtual idol – not prone to scandals and able to work 24/7 – proving popular with the country’s notoriously hard-driving music agencies.
But now, Pulse9 is “expanding their roles in society to show that these virtual humans aren’t just fantasy idols but can coexist with humans as colleagues and friends”, Park said.
– K-pop face –
Zaein’s face was created by a deep learning analysis – an AI method that teaches computers to process complex data – of the faces of K-pop stars over the last two decades.
Doe-eyed with delicate features, fair skin and a willowy figure, she is brought to life by overlaying the deepfake on a human actor.
More than 10 human actors, each with different talents — from singing, dancing, acting, to reporting — help animate Zaein, which is what makes this particular AI creation so “special”, Park said.
On a Monday morning, AFP met with one of the actors as she was preparing to deliver a report as Zaein on a live morning news programme on South Korean broadcaster SBS.
“I think it can be a good practice for people who want to become celebrities and that’s what appealed to me,” said the actor, who could not be named due to company policy.
A representative for Pulse9 said the identities of all human actors are concealed and their real faces are not shown.
Despite the strict measures to keep their profiles hidden, the actor said playing as a virtual human opened new doors.
“Typically, a lot of people in their teens and young people become K-pop idols and I’m way past that age, but it’s nice to be able to take on that challenge,” the actor, who is in her 30s, told AFP.
“I’d love to try acting as a man if I can manage my voice well, and maybe a foreigner — something that I can’t become in real life.”
– ‘Real and fake’ –
Creating artificial humans will continue to require real people “until a really strong AI is created in the future which will be able to process everything by itself”, Park said.
The potential — and potential perils — of AI have exploded into the public consciousness in recent months since ChatGPT burst onto the scene at the end of last year.
Experts around the world, including AI pioneers, have spoken out about its dangers, and several countries are seeking regulation of the powerful but high-risk invention.
But Park is not concerned. Her company is working on new virtual idols, virtual influencers, and virtual sales agents to take over customer-facing tasks for South Korean conglomerates, which are increasingly struggling with recruitment in the low-birthrate country.
South Korea — and the world — needs better, clearer regulations on what AI can do, she said, adding that when done properly, the technology can add to “the richness of life”.
The trouble, however, is that a deepfake can “make it impossible to tell what is real and fake”, Kim Myuhng-joo, a professor of information security at Seoul Women’s University, told AFP.
“It’s an egregious tool when used to harm others or put people in trouble. That’s why it’s becoming a problem,” he added.
AFP
Business
Tony Elumelu’s United Capital Secures approval to operate in Ethiopia
Elumeu lauded the transformational Prime Minister of Ethiopia, His Excellency @AbiyAhmedAli , for promoting economic reforms and regional cooperation, the Director General of Ethiopian Capital Market Authority @CMAEthiopia , Ms. Hana Tehelku, and the team at @UnitedCap on this landmark achievement.
United Capital Group has again secured regulatory approvals to commence operations in Ethiopia.
Its Chairman, Tony Elumelu, broke the news on Tuesday, via his official X.
” This development is particularly noteworthy because Ethiopia only recently opened its financial sector to foreign participation, making United Capital’s entry a historic step for both the company and the ongoing integration of African capital markets,” said Elumelu.
Last month, United Capital commenced operations in Rwanda, marking its formal entry into East Africa and reinforcing its ambition to build a leading continental financial services institution.
The Group’s newly established entities include United Capital Trustees Rwanda Limited, licensed to provide trusteeship services, and United Capital Financial Services Rwanda Limited, licensed to offer investment management services, including portfolio management, investment advisory, capital mobilisation, capital market advisory, and fund management solutions.
With this development, United Capital now operates in 11 countries, including Nigeria, with a strong presence in key African markets, a recent expansion into the eight countries within the West African Economic and Monetary Union (WAEMU) region, alongside a growing footprint in East Africa.
According to Elumelu, African institutions are increasingly leading, competing, and succeeding across the continent.
For decades, Africa witnessed foreign capital flowing in while profits largely flowed out.
That narrative is beginning to change.
This is Africapitalism in action — a vision that recognizes the importance of both indigenous and international capital working together to finance Africa’s development and unlock shared prosperity.
Elumeu lauded the transformational Prime Minister of Ethiopia, His Excellency @AbiyAhmedAli , for promoting economic reforms and regional cooperation, the Director General of Ethiopian Capital Market Authority @CMAEthiopia , Ms. Hana Tehelku, and the team at @UnitedCap on this landmark achievement.
Business
Lagos developing world – class new business district —Sanwo-Olu
Sanwo-Olu said Lagos was deliberately building a globally competitive economy driven by innovation, infrastructure and private-sector participation.
• Invest Lagos Summit 3.0: Secretary to the Lagos State Government, ‘Bimbola Salu-Hundeyin (right); Member, House of Representatives, Kafilat Ogbara; Commissioner for Innovation, Science and Technology, Tunbosun Alake; Chairman, Commonwealth Enterprise & Investment Council (CWEIC), Lord Jonathan Marland; Vice President Kashim Shettima; Governor of Lagos State, Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat; Commissioner for Commerce, Cooperatives, Trade & Investment, Mrs Folashade Bada Ambrose-Medebem; Deputy Chief of Staff to the Governor, Sam Egube, Dr Toyosi Akerele-Ogunsiji and members of the State Executives Council at the opening of Invest Lagos 3.0, themed: “Lagos – The Business Gateway to Africa”, in Lagos, yesterday.
Lagos State Governor, Babajide Sanwo-Olu, has disclosed that as part of efforts to deepen access to global capital, his administration is developing the Lagos International Financial Centre (LIFC), envisioned as a world-class financial district that would strengthen the state’s position as a gateway for investment into Africa.
Speaking yesterday at the third edition of the Invest Lagos Summit, attended by Vice President Kashim Shettima, other governors, foreign investors, development finance institutions and business leaders, Sanwo-Olu said Lagos was deliberately building a globally competitive economy driven by innovation, infrastructure and private-sector participation.
Sanwo-Olu said that the state had recorded significant economic progress in recent years through targeted reforms across transportation, digital infrastructure and industrial development.
Highlighting key infrastructure achievements, Sanwo-Olu cited investments in road networks, waterways and rail transportation, describing them as critical enablers of economic growth and investor confidence.
The governor noted that Lagos was increasingly serving as a gateway to African markets and global capital, positioning itself at the centre of continental trade under the African Continental Free Trade Area (AfCFTA).
According to him, Lagos remains one of the continent’s most strategic economic hubs, with a population exceeding 25 million and a gross domestic product steadily approaching the $300 billion mark.
Official CBN Exchange Rates
US Dollar (USD) ₦1, 362.84
Great British Pound (GBP) ₦1,821. 30
EURO (EUR) ₦1,574. 53
SWISS FRANC (CHF) ₦1,714. 05
JAPANESE YEN (JPN) ₦8.52
CHINESE YUAN (CNY) ₦200.99
West African CFA (XOF) ₦2.42
West African Unit Account (WAUA) ₦1,863.83
SAUDI RIYAL (SAR) ₦302. 83
SOUTH AFRICAN RAND (ZAR) ₦82.75
Black Market Rates
US Dollar (USD) Buy ₦1,395 Sell ₦1,400
Great British Pound (GBP) Buy ₦1,860 Sell: ₦1, 880
EURO (EUR) Buy ₦1,000 Sell ₦1, 100
South African Rand (ZAR) Buy ₦75 Sell ₦90
UAE Dirham Buy ₦350 Sell ₦370
Chinese Yuan Buy ₦180 Sell ₦200
Ghana Cedi (GHS) Buy ₦100 Sell ₦115
West African CFA Buy ₦2,450 Sell ₦2550
Central African CFA Buy ₦2,320 Sell 2,400
Australian Dollar Buy ₦800 Sell ₦900
Sources: CBN / Aboki Forex
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