AfriPulse
Obafemi Hamzat, deputy governor of Lagos State, has emphasized the need to strengthen data integrity and foster entrepreneurial collaboration to position Nigeria as a strong player in the global artificial intelligence (AI) landscape.
He made this submission at the 10th FATE Business Conference held in Lagos recently themed ‘AI Powered Business: Innovate. Automatic. Accelerate.”
Hamzat noted that as AI adoption and utilization are set to shape global growth and productivity in the coming decades, it has become imperative for Nigerian businesses to leverage its benefits to remain globally relevant and competitive.
He explained the value proposition and emerging opportunities across diverse industries. “AI will define the next 20 to 30 years for the world.
The question is whether Nigerian businesses will be affected positively or negatively,” he said.
“It is whether we lead the change, or we are left behind. From the era of machine learning to the politics of artificial intelligence, our realities are being defined, and we must embrace it.”
Read also: Tinubu’s economic reforms meant to reposition Nigeria for growth – Hamzat
Outlining strategic steps entrepreneurs must take to harness the full potential of AI, he stressed that data integrity must be prioritised by ensuring accuracy and reliability.
“AI must be used responsibly. It must be backed by research. Businesses must ask if the technology empowers people or excludes them. This is what builds trust. Every entrepreneur must learn how to work with AI tools.
“We must not be people who make up our minds without interrogating data. We must analyse data before drawing conclusions because, as we know, AI is garbage in, garbage out. It’s not about emotions; it’s about data, and data must be correct.
“Also, in this AI economy, collaboration matters more than ego. Entrepreneurs should learn to partner with academics, start-ups, and other corporates,” he said.
In his keynote address, Sunny Iroche, a professor and executive chairman of GENAI Learning Concepts Limited, stated that while AI holds immense promise for entrepreneurs, infrastructural challenges, particularly access to reliable power supply, could significantly hinder Nigerian businesses from maximizing its benefits.
In his remarks, Iroche stressed that Nigeria “must build infrastructure to support AI or risk being left behind.”
On her part, Adenike Adeyemi, executive director of FATE Foundation, credited the FATE Foundation Alumni body for its decade-long commitment to hosting the annual conference. She explained that this year’s theme was carefully chosen to address the realities of business growth in a rapidly changing global landscape.
“From inception, this conference has been organized by members of the FATE alumni community with the vision of creating a space where entrepreneurs across programs, spaces, and sectors can come together to connect, network, learn, be inspired, and inspire others,” she said.
“We wanted this year’s conference to address practical conversations that are relatable to entrepreneurs and their business growth and efficiency and are glad it has become a reality,” she added.
Source: Businessday.ng | Read the Full Story…
