SMEs Urged to Leverage AI for Business Growth at Ecobank MySME Webinar

Small and Medium Enterprises (SMEs) in Nigeria have been encouraged to adopt Artificial Intelligence (AI) technology to enhance their business operations and growth.

Ehia Erhabor, Founder of AI Nigeria, delivered this advice during his presentation titled “Using AI for Business Innovation” at the Ecobank MySME Growth Series webinar. Erhabor highlighted AI as a transformative tool that can automate processes, improve analytics, and offer personalized customer experiences, emphasizing that the democratization of AI will enable businesses of all sizes to innovate and gain a competitive edge.

Erhabor pointed out that AI is integral to the future of business, stating that it can help SMEs by analyzing data to develop new products and services, automating repetitive tasks, and streamlining workflows to reduce operational costs. He noted that AI is already a pervasive part of everyday life and will significantly impact business operations. Despite acknowledging challenges such as bias, explainability, privacy, transparency, and potential misuse, Erhabor dispelled fears that AI would lead to catastrophic outcomes, advocating instead for its use as a development tool.

Source: Vanguard