Report: African CEOs Identify Advanced AI, Analytics as Success Drivers

Emma Okonji

A new global study by the IBM Institute for Business Value has revealed that over 54 per cent of African CEOs surveyed identify customer experience as their highest business priority.

They also recognise productivity as key to achieving their business goals, ranking it their second highest priority (46 per cent). However, they continue to face key barriers as they race to modernise and adopt new technologies like generative Artificial Intelligence (AI).

The annual CEO study, tagged CEO decision-making in the age of AI, Act with intention, found that African CEOs expect to realise significant value from advanced forms of AI and analytics such as cloud computing, automation, generative AI, deep learning, machine learning, advanced analytics, and more.

Analysing the report, the General Manager, IBM Africa Growth Markets, Julia Carvalho, said: “The Fourth Industrial Revolution has presented Africa with an opportunity to leapfrog various stages of economic development. Consequently, African organisations are leveraging generative AI and emerging innovation models to accelerate innovation, enhance customer experiences, productivity and profitability, and environmental sustainability, to name a few.

“However, it’s critical that CEOs in Africa establish and implement clear and consistent standards as it concerns the utilization of AI across all areas of strategic focus, as it will determine the level of investment and, ultimately, an organization’s success in a rapidly advancing digital economy.”