WHY NIGERIAN CEOS NEED TO UNDERSTAND AI

The world has changed and it is not going to remain the same. Since the 1940s, a lot of work has been done to increase computational speed and abilities around the world. In fact I tell people, it dates back to the 1800s with the Jacquard loom machine. These further advancements led to great scientific innovation like putting a man on the moon and doing other great innovations. In the 1990s Artificial intelligence went one step further with IBM’s work on Watson and Google’s work with deep mind. It was first in 1996 that the world Chess champion Gary Kasparov was beaten by a computer that learnt how he plays his game and beat him to it. The opportunities for artificial intelligence are endless and I have to say emphatically it would change the business terrain forever. It would be the driving force for how decisions are made and how actions are taken and these changes are dynamic.

In case you do not know artificial intelligence comes with a lot of disruption and there is going to be a backlash. In fact when machine was introduced to industries in the 1700s, workers in England revolted and started a Luddite movement but this did not stop the growth of the machines. So business leaders ought to embrace AI because it has come to stay and it would improve how businesses are done.

Company executives need to understand AI because it would affect every sector of their business. I would share some sectors briefly. Logistics: the logistics of moving products and delivery service can be greatly improved by AI. Just imagine as a CEO you have access to the number of bad roads on your delivery route and you can use that to plan for your delivery man. This totally changes the face of your business and gives a competitive edge. The understanding of AI and proper analytics would change the face of your business permanently. AI would also help companies make decisions devoid of sentiment. It is shocking that a lot of our business decisions are still based on our sentimental outplay but with AI you can see the true picture and change what is not working.

Human Relations: Artificial intelligence can help greatly to increase the understanding of human interaction, behavioural pattern of every member of staff can be studied and effective changes can be made as regards staff with challenges. In fact with various softwares like CRM softwares, you can determine behavioural index of staff and make appropriate character training. It can also help determine how much the members of staff believe in your message and identify your own character flaws and call for improvement.

HR and recruiting: Artificial intelligence can help CEOs employ better. There are softwares that identify character flaws you might not see during interviews. You can use artificial intelligence to analyse interview videos and screen candidates masking various undesirable traits. AI has helped to predict medical conditions better than doctors. So it could help a great deal in the recruitment process. Its non-sentimental and bias nature is a true testament to its immense capacity in the work space. It is time to embrace AI.

Let’s talk today to know more. Send a mail.

Rufai Oseni, rufai@rufai.com.ng