Bank supports report on Nigeria’s AI adoption

Sterling Bank, in partnership with AI in Nigeria, has unveiled the ‘Nigeria AI Landscape and Startup Report,’ offering a comprehensive view of Nigeria’s AI ecosystem and startup scene.

The report underscores the pivotal role of AI in driving innovation and economic growth in Nigeria while providing insights into the challenges and opportunities within the AI landscape.

“We are thrilled to partner with AI in Nigeria to launch this maiden report,” said Chief Growth Officer Sterling Bank, Obinna Ukachukwu.

“We cannot underestimate the role of AI in Driving Innovation and Economic Growth in Nigeria at a time like this. It is an important tool that has come to stay for us to remain competitive in an emerging global economy. Neglecting AI could jeopardize efforts aimed at enhancing business efficiency and national competitiveness,” he added.

The report sheds light on how AI contributes to economic growth by enhancing productivity, efficiency, and competitiveness. By freeing up human capital for more creative endeavours, AI fosters overall productivity and drives innovation across various sectors. Furthermore, AI empowers businesses to make data-driven decisions, optimise processes, and uncover new opportunities, thereby fueling job creation and skill development in Nigeria’s evolving technology landscape.

Co-founder of AI in Nigeria, Ehia Erhaboh, expressed optimism about the future of AI in Nigeria, highlighting its potential for significant social and economic impact.

“Sustaining growth and ensuring Nigeria’s competitive edge in the global AI market necessitates ongoing commitment from both public and private sectors to foster an enabling environment,” Erhaboh emphasised.