The Chairman of Everest Assets Group Ltd, Steve Windmill, is a leader whose remarkable career trajectory exemplifies adaptability and strategic foresight. Steve brings a wealth of expertise in guiding businesses through turbulence, crafting tailored strategies that enable resilience and long-term growth. His insights on embracing Artificial Intelligent (AI) and innovation as competitive tools are both timely and critical in today’s business environment. In this interview with KEHINDE OLATUNJI, he speaks on how AI can transform operations, improve decision-making, and drive economic growth.
Can you share a bit about your background and how you became an advocate for AI innovation in Nigeria?
My background is quite diverse, with experience in strategic transformation, governance, and leadership across various sectors, including defence, finance, and technology. I have had the privilege of working with both public and private organisations, helping them optimise operations and navigate complex challenges. My time as a military leader in the UK gave me a unique perspective on strategic decision-making and the importance of innovation in achieving organisational goals.
What sparked my advocacy for AI innovation in Nigeria was realising technology’s potential, particularly AI, to drive change. Through travels and collaborations with international organisations, I saw firsthand how AI transforms operations, improves decision-making, and drives economic growth. Successful AI implementations in healthcare and finance reinforced my belief that Nigeria can harness similar innovations to tackle its unique challenges. Collaborating with visionary leaders like Ayo Benson further fueled my commitment to fostering AI adoption in Nigeria. Our goal is to empower organisations to recognise AI as a fundamental shift in how they operate and compete globally.
What inspired your interest in leveraging AI for competitive advantage in leadership and industry and how would you assess Nigeria’s current adoption of AI across industries?
My interest in AI was sparked by its potential to drive efficiency, innovation, and strategic decision-making. I realised that in a competitive global market, organisations that effectively leverage AI can gain a substantial edge over their competitors. AI offers unique capabilities that enable businesses to analyse vast data, identify patterns, and generate insights that inform strategic initiatives.
As I engaged with leaders across various sectors, I saw an urgent need for Nigerian organisations to adopt AI as a vital tool for innovation and growth. By leveraging AI, businesses can optimise operations, improve customer experiences, and drive sustainable growth.
Assessing Nigeria’s current adoption of AI, I would say we are at a critical juncture. While we have made notable strides in technology adoption, particularly in fintech, AI integration across industries remains nascent. Many organisations still grapple with traditional processes, and there’s a pressing need for a cohesive strategy to encourage broader AI adoption.
Sectors like agriculture, healthcare, and logistics are ripe for AI integration, but significant barriers remain, including a lack of understanding of AI technologies, data privacy concerns, and the need for skilled talent. To overcome these challenges, the government, private sector, and educational institutions must collaborate to develop a comprehensive roadmap that facilitates AI adoption across the economy.
What unique opportunities does AI present for Nigeria, given its population and economic landscape?
Nigeria’s youthful population and vibrant entrepreneurial spirit create a fertile ground for AI innovation. With a median age of approximately 18 years, Nigeria boasts one of the youngest populations worldwide. This demographic advantage presents unique opportunities for harnessing AI to address pressing challenges and drive economic growth.
Agriculture, a cornerstone of Nigeria’s economy, employs a significant portion of the workforce. AI-driven solutions can optimise agricultural practices, en
hance yield predictions and improve supply chain management. Predictive analytics, for instance, can help farmers make informed decisions about planting and harvesting, ultimately increasing productivity and food security.
The healthcare sector also stands to benefit immensely from AI innovations. AI can enhance diagnostic accuracy, streamline patient care and optimise resource allocation. AI-powered diagnostic tools, for example, can analyse medical images and identify diseases with remarkable precision, reducing the burden on healthcare professionals and improving patient outcomes.
Nigeria’s fintech sector has already embraced AI to a considerable extent, with innovations in mobile banking and payment solutions. AI can further enhance fraud detection, credit scoring and personalised financial services. By leveraging advanced algorithms, fintech companies can provide tailored solutions that meet the unique needs of Nigerian consumers.
AI can revolutionise the education sector by providing personalised learning experiences and improving administrative efficiencies. Adaptive learning platforms can analyse student performance and tailor content to individual learning styles, ensuring that every student receives the support they need to succeed.
What challenges do organisations and leaders face when integrating AI technologies?
While the potential of AI is vast, organisations face several challenges in its integration. Many organisations lack a fundamental understanding of AI technologies and their potential applications, hindering decision-making and stifling innovation.
Some of the challenges include cybersecurity concerns. As organisations adopt AI, they must also address the associated cybersecurity risks. The integration of AI systems can expose sensitive data to potential breaches, necessitating robust security measures. Furthermore, the ethical implications of AI usage, including bias in algorithms and decision-making, pose significant challenges. Organisations must ensure that their AI systems promote fairness and transparency.
Moreover, the shortage of skilled professionals in AI and data science is a critical barrier. Organisations must invest in training and development programmes to equip their workforce with the necessary skills to leverage AI effectively.
How can leaders effectively embrace AI to enhance competitiveness in their organisations?
To effectively embrace AI, leaders must cultivate a clear vision for its integration within their organisations. This involves several key steps. Firstly, leaders should define how AI aligns with their organisational goals and communicate this vision throughout the organisation. A clear purpose will inspire employees to engage actively in the transformation process. Leaders must foster a culture that encourages experimentation and learning from failures. Leaders should empower teams to explore AI applications and provide the necessary resources for experimentation.
It is also imperative for organisations to prioritise upskilling their workforce to ensure that employees have the knowledge and skills to navigate AI technologies confidently. Training programmes focused on AI literacy and data analytics can help bridge the skills gap. Furthermore, establishing cross-functional teams that bring together diverse perspectives can lead to innovative solutions tailored to the organisation’s specific needs. Collaboration fosters creativity and encourages the exploration of new ideas.
What mindset shifts or skills are essential for leaders to thrive in an AI-driven environment?
To thrive in an AI-driven environment, leaders must adopt several mindset shifts and develop essential skills. Emotional intelligence is crucial; understanding team members’ emotions and motivations alleviates fears surrounding AI adoption and fosters a culture of innovation. Furthermore, the rapidly evolving nature of AI necessitates leaders remaining flexible and open to new ideas. An adaptable mindset enables organisations to pivot strategies based on emerging trends and insights.
Calculated risk-taking is also essential. Embracing AI involves experimenting with new technologies and approaches, recognising that failure can be a valuable learning experience. A long-term perspective is vital, envisioning how AI can shape the organisation’s future. This visionary thinking guides strategic decision-making and inspires teams to work towards a common goal.
Can you provide case studies of how companies or sectors have successfully adopted AI innovations?
Global Consumer Goods Inc. is one of the largest consumer goods companies worldwide and has successfully integrated AI across various facets of its operations. By employing advanced machine learning algorithms, the company optimised its supply chain and demand forecasting processes. This initiative enabled the company to predict product demand more accurately, reducing excess inventory and minimising waste. The result was substantial cost savings and enhanced operational efficiency.
Additionally, the company launched AI-based tools to personalise marketing strategies, tailoring campaigns to specific consumer segments based on their preferences and behaviours.
In the logistics sector, Logistics Solutions Ltd has leveraged AI to enhance its operations. The company implemented AI-driven analytics to optimise delivery routes, reducing transportation costs and improving delivery times. Using predictive analytics, they can anticipate demand fluctuations, enabling them to allocate resources efficiently and ensure timely deliveries.
HealthTech Innovations has also made significant strides in leveraging AI for healthcare applications. Through its AI algorithms, the company developed tools that can analyse medical images to detect diseases such as breast cancer and diabetic retinopathy with remarkable accuracy. This technology not only enhances diagnostic capabilities but also empowers healthcare professionals to make more informed decisions.
You have partnered with Mr. Ayo Benson, a Nigerian based in the UK, integrating AI in various sectors. Can you share some case studies of the work you have done together?
Our collaboration with Ayo Benson has been instrumental in advancing AI integration across various sectors. Here are a couple of notable case studies. We partnered with a major logistics company to implement AI-driven solutions that optimise their supply chain operations. By leveraging predictive analytics and machine learning algorithms, we helped the company reduce delivery times and transportation costs significantly. This initiative not only improved operational efficiency but also enhanced customer satisfaction.
In the healthcare sector, we assisted a leading hospital in implementing AI-based diagnostic tools. These tools analysed medical images and patient data, enabling healthcare professionals to make more accurate diagnoses and treatment decisions. The result was improved patient outcomes and a more efficient healthcare delivery system.
As a top military leader and consultant in the United Kingdom who has achieved a lot helping businesses maximise AI opportunities, how can Nigeria leverage your expertise, opportunities, and platforms for AI integration for businesses in Nigeria and its government?
Nigeria can leverage my expertise and the expertise of my collaborators by creating platforms for knowledge exchange and collaboration between local and international stakeholders.
Several strategies can be employed to achieve this. Firstly, establishing knowledge hubs dedicated to AI research and innovation can facilitate collaboration among businesses, academia, and government entities. These hubs can serve as centres for training, workshops, and research initiatives focused on AI applications.
Additionally, encouraging partnerships with international organisations and experts can provide Nigeria with access to best practices, resources, and technologies that can accelerate AI integration. These partnerships can also help build capacity within local organisations. By harnessing AI expertise, Nigerian businesses and government entities can boost their global competitiveness. Access to advanced technologies and innovative solutions will enable organisations to excel in the digital era.
