Nigeria's SMEs Can Tap into AI to Drive Economic Growth

Nigeria's small and medium-sized enterprises (SMEs) have a huge opportunity to tap into the power of artificial intelligence (AI) to gain a competitive edge and drive the country's economic growth. Experts say that access to data and real-time capital market information is key to unlocking this potential, and platforms like Immortal AI are providing businesses with the tools they need to make data-driven decisions. With AI, both small and large businesses can gain insights from their existing customer data, improving decision-making and risk management, and ultimately reducing operational costs.

Key Takeaways:

• Over 80% of Nigerian businesses operate without access to data, limiting their growth and stunting economic development.
• Immortal AI is a business intelligence and capital market data platform that provides businesses with insights from their existing customer data, improving decision-making and risk management.
• The platform aims to reduce the number of businesses operating blindly from 9 out of 10 to 1 out of 10, facilitating a systemic change in how businesses approach data analytics.
• SMEs account for over 90% of Nigeria's businesses and contribute more than 50% to the country's GDP, making effective use of data tools like Immortal AI critical to economic transformation.
• Economic democracy cannot happen without strong businesses, and strong businesses will not happen without data, according to Femi Bejide, CEO of Statisense.
• The use of data platforms like Immortal AI can represent a strategic lever for Nigeria's broader economic transformation.

Statistics:

• Over 80% of Nigerian businesses lack access to data, hindering their growth and development.
• 90% of Nigerian businesses are SMEs, which contribute more than 50% to the country's GDP.
• Immortal AI aims to reduce the number of businesses operating without data from 9 out of 10 to 1 out of 10.

Sources:

• Femi Bejide, CEO of Statisense (no date provided)
• Immortal AI press release (no date provided)
• "Nigeria's SMEs Can Tap into AI to Drive Economic Growth" (original source not specified)