‘AI adoption will boost business efficiency’

The Founder and Chief Executive Officer of GDM Group, Dr Victor Afolabi, has called on Nigerian business owners to embrace the use of artificial intelligence to enhance productivity.

Speaking recently at the CEO’s Summit event in Lagos, themed ‘Future-Ready Leadership’, Afolabi emphasised the transformative power of AI in reshaping businesses and keeping them competitive.

He said that many organisations are still burdened by inefficiencies—dead weights that inflate operational costs and ultimately affect the bottom line.

According to Afolabi, these inefficiencies are passed on to the consumers, raising the cost of services.

He said, “We need to make our organisations a lot more efficient. Many of us are carrying dead weights today.

“If businesses continue to ignore AI’s potential to streamline operations, they risk falling behind competitors who have embraced these technologies.”

He believes AI can play a pivotal role in driving significant operational efficiency.

By automating processes, improving decision-making, and optimising resource allocation, AI helps reduce redundancies and enhance productivity.

“The cost to serve for someone who is leveraging technology will definitely be lower,” Afolabi emphasised.

He added that businesses that incorporate AI will not only become more efficient but also deliver better quality work with fewer resources.

AI adoption, according to Afolabi, is no longer optional—it’s a necessity for businesses looking to remain competitive in an increasingly digital world.

Earlier, Executive Director of the Centre for Values in Leadership, Mr Rume Daniels, highlighted the significance of leadership development in fostering organisational growth, which, in turn, leads to national progress.

Daniels, who is also the team lead at ImpactGlobal, said the CEO’s summit is a platform to enhance leadership skills and improve the overall quality of leadership in both business and societal contexts.

“Everything rises and falls on leadership,” he stated. “The better the leader, the better the organisation, the better the nation.”

He added that beyond the pursuit of profits, CEOs are agents of change, with their leadership having the power to uplift communities and reduce unemployment.

“As CEOs, we don’t just influence our organisations; we shape the societies around us.” Daniels stated.