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How AI is Transforming Businesses in Nigeria and beyond

A roundtable hosted by Google explores the integration and impact of AI in Nigerian businesses.

by Motoni Olodun

Artificial intelligence (AI) is not a futuristic concept in Africa, but a present-day reality that is reshaping the way businesses operate and grow. From logistics to banking, AI is helping enterprises of all sizes to enhance their processes, improve customer experiences, and unlock new growth potential.

According to a report by Accenture, AI could add up to $15.7 trillion to the global economy by 2030, and Africa could benefit from up to $1.2 trillion of this value. Nigeria, as the largest economy and the most populous country in Africa, is well-positioned to leverage AI for its development and prosperity.

A recent roundtable hosted by Google brought together industry leaders from leading organisations such as MTN, FirstBank, and Kuda to explore the integration and impact of AI in Nigerian businesses. The discussions highlighted the immediate relevance of AI, emphasising that its value lies not just in preparing for future challenges but in providing practical solutions for the pressing needs of today’s market.

Fola Olatunji-David, representing the Nigerian Minister of Communication, Innovation & Digital Economy, Dr. Bosun Tijan, noted that “AI is not just a technological leap forward, but a catalyst for redefining how we approach business challenges and opportunities in Nigeria.”

However, the adoption of AI in Nigeria is not without its hurdles. It requires a reimagining of business models, customer engagement strategies, and operational efficiencies. Key factors such as managing costs, acquiring the right talent, and implementing effective strategies are central to this transition. This journey towards AI integration calls for not just innovative solutions but also a unified vision and a steadfast commitment to driving technological change.

Google is one of the collaborative partners that are supporting Nigerian businesses to leverage AI technologies effectively. Through initiatives such as the Google for Startups Accelerator AI First program, Google aims to empower businesses to harness AI for sustainable growth and innovation. This collaborative approach ensures that AI adoption across Nigeria’s business sector is both impactful and responsible, contributing to progress and prosperity.

The potential of AI in transforming Nigeria’s business landscape is immense. It provides a pathway for businesses to enhance operational efficiency, drive innovation, and remain competitive in a rapidly evolving global market. This transformative journey is a testament to the resilience, adaptability, and commitment of Nigerian businesses to embrace new technologies for sustainable growth and development.

As Nigeria looks to the future, the focus is clear, AI’s role in Nigeria is not just about technological advancement; it’s about shaping a new economic narrative for the country. A narrative where technology acts as a catalyst for sustainable growth, innovation, and a brighter, more prosperous future for Nigeria.

Source: Business Day


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