Experts Charge SMEs to Leverage AI to Build Competitiveness
Oluchi Chibuzor With Nigerian SMEs contributing more than half of the nation’s GDP, experts have urged them to adopt sector specific AI that would enable them to scale their process,
Nigerian SMEs, which contribute more than half of the nation's GDP, have been urged by experts to leverage sector-specific AI to enhance their competitiveness. Ayomide Akindolie-Igwe, Executive Director of Fate Foundation, cautioned entrepreneurs against following technology trends without understanding their unique business needs.
She emphasized the importance of closely examining their own operations to identify areas where technology could fill gaps. Akindolie-Igwe stated that what works for one business may not be effective for another, and thus, entrepreneurs must first understand their specific requirements before making any technology decisions. Dean & Director of FATE School of Entrepreneurship, Bambo Adebowale, stressed the significance of structuring enterprises to prevent wasting resources.
He explained that the Fate Foundation was established to provide this necessary structure for entrepreneurs, enabling them to effectively start, grow, and scale their businesses with a clear purpose.
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