Industry leaders and business experts have urged entrepreneurs, professionals and Small and Medium Enterprises (SMEs) to embrace artificial intelligence (AI) as a productivity tool while developing unique brand identities and continuously upgrading their skills to remain competitive in the evolving digital economy.

The  experts gave the advice during a panel session at a symposium organised by the Department of Marketing and Consumer Studies, University of Ibadan, Oyo State.

The symposium, which had the theme:  “Harnessing AI for Business Survival and Expansion in the Knowledge Economy,” was  held at the Kessington Adebukunola Adebutu Foundation (KAAF) Auditorium of  the university.

The panel session  featured the General Manager (Commercial), UAC Foods, Dr. Ayo Awosika; Lead, Partnerships and Clusters at ProvidusUnity Bank, Amara Ifeanyichukwu-Njoku; Head of Engineering at MainStack, Seun Osuntoki; founder of Mafio Creativille, Funmilayo Adebomi; and Oyo State Government SME Consultant, Mr. Oladayo Bello.

Speaking on the growing influence of AI in business, Ifeanyichukwu-Njoku described the technology as an assistant rather than a replacement for human intelligence, urging entrepreneurs to think differently about how they deploy AI in their operations.

The banker  urged business owners to identify practical ways AI could complement their businesses and improve efficiency.

“Your business and AI should collaborate. Find out how you can utilise AI to improve your operations and achieve better results,” she said.

Bello lauded the organisers of the symposium for introducing discussions around AI, describing it as a bold initiative that would expose participants to emerging technologies shaping the future of business.

While noting that ChatGPT remains one of the most popular AI platforms, he stressed that institutions must continue creating opportunities for people to understand the technology beyond its basic applications.

For Adebomi, AI has become an extension of her creative process rather than a substitute for human ingenuity.

“AI is an extension of my brain. It helps me work faster, but it does not replace creativity,” she said.

Adebomi urged entrepreneurs not to surrender their creativity to technology.

“Don’t let AI replace your brain. Use AI to enhance your work and make it faster. Build your brand voice because authenticity still matters. Above all, there is power in collaboration,” she said.

The media influencer urged entrepreneurs to begin their digital transformation journey with available resources, urging them to learn, unlearn and continually upgrade their skills.

According to her, businesses must establish a distinct brand voice despite the growing use of AI-generated content.

“Start where you are. Don’t be too rigid. You must have your own brand voice because AI can remove the human element if not used carefully,” she said.

Adebomi also stressed the importance of maintaining a strong social media presence, charging businesses to engage experienced content creators and social media professionals while leveraging sponsored advertisements to reach wider audiences.

She maintained that AI would not replace jobs but would instead reward those willing to acquire relevant digital skills.

On his part, Awosika described AI as a broad technology whose applications extend far beyond conversational tools such as ChatGPT.

“AI is user-specific. It means different things to different people, and it is not limited to what ChatGPT can do,” he said.

The UAC Foods executive emphasised the importance of AI in sales and marketing, urging businesses to understand consumer behaviour rather than adopting technology simply because others are doing so.

“Nigeria is a diverse market. Understand your consumers. Don’t follow the bandwagon effect. AI will not take your job; instead, make yourself employable by learning how to use it effectively,” he said.

Osuntoki noted that technological advancement would inevitably create new opportunities, even as some traditional roles evolve.

He urged participants to embrace change and use AI as a learning and productivity tool.

“Transition will happen, and new jobs will emerge. You need to adapt and leverage AI to optimise the services you render,” he said.

In their closing remarks, the panellists unanimously submitted  that AI should be viewed as an enabler rather than a threat.

Awosika urged participants to continually update their knowledge to remain relevant, while Ifeanyichukwu-Njoku reiterated the need for businesses to collaborate with AI to improve performance.

In his submission, Osuntoki urged professionals to develop valuable skills that AI could amplify rather than replace.

Earlier,  the special guest of honour and  Oyo State Commissioner for Local Government and Chieftaincy Matters, Hon. Ademola Ojo, represented by the Director of Local Government Affairs, Mrs. Olanike Akanji, pledged the ministry’s readiness to collaborate with the department in promoting innovation and knowledge-driven development.

In their separate remarks, the university’s Vice-Chancellor, Prof. Kayode Adebowale;  the Dean of the Faculty of Economics and Management Sciences, Prof. Abiodun Folawewo, and Head of Department of Marketing and Consumer Studies, Dr. Samuel Orekoya, described AI as the driving force of the emerging knowledge economy, urging businesses, scholars and policymakers to move beyond discussing the technology to embracing its practical applications.

They emphasised that AI presents enormous opportunities for innovation, productivity and economic transformation, its deployment must be guided by appropriate legal and ethical frameworks.

The event also attracted academics, industry leaders, artisans, students and other stakeholders, including Prof. Omo Aregbeyen, Prof. Adeola Adenikinju, Prof. Juwon Arotiba, Prof. Abiodun Surajudeen Bankole, Prof. Akanni Lawanson, Dr. Ifeanyi Onwuka Onuka, Dr. Oluseyi Ajayi, Dr. Adeola Ayodele, Dr. Philip Ogunode and others.

Highlights of the symposium included the presentation of awards to Prof. Adeola Adewuyi, Prof. Kassey Garba, Prof. Gboyega Oyeranti, Prof. Mutiu Oyinlola, Dr. Oluwatosin Adeniji and Dr. Samuel Orekoya in recognition of their contributions to scholarship and national development.