Fate Foundation Experts Urge SMEs to Embrace AI for Growth
At the 11th FATE Business Conference, experts emphasized the need for Nigerian SMEs to leverage sector-specific artificial intelligence (AI) to enhance their competitiveness and profitability. Ayomide Akindolie-Igwe, Executive Director of Fate Foundation, cautioned entrepreneurs against adopting technology trends that do not align with their specific business needs.
She advised that entrepreneurs should thoroughly understand their business details and identify gaps before selecting trending technologies. Akindolie-Igwe noted that limiting focus to the local market could hinder competitiveness against both local and global brands.
Bambo Adebowale, Dean & Director of the FATE School of Entrepreneurship, stated that enterprises lacking structure are essentially wasting resources, highlighting the foundation's role in providing necessary structure for entrepreneurs to grow and scale effectively.
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