President of Digital Transformation at Reliance Infosystems, Danjuma Audu, has called for the optimal adoption of Artificial Intelligence in businesses to enhance its effects on the national economy.
This disclosure was made by Audu while speaking at the Chartered Institute of Personnel Management’s conference in Lagos, recently, according to Thisday.
He debunked the impression that AI displacing humans, noting its influences on business efficiency and employees engagement.
He pointed out that AI remained a transformative force capable of revolutionising corporate operations, beyond driving technological progress, in his presentation titled, “The transformative potential of AI in driving business efficiency and employee engagement.”
He said “With recent advancements in computing power, data availability, and algorithmic innovation, AI has emerged as a powerful tool for driving business innovation and agility. Its influence is already palpable in our daily lives, while its potential to reshape the future is boundless.”
He emphasised the linkage between workers’ productivity and business profit, wages, and employees compensation, noting that this will automatically clear the path for a reducting in prices and deflation.
He said that AI will stimulate workers’ productivity and emotional commitment, promoting economic progress.
“Gallup’s State of the Global Workplace 2023 report puts the cost of low employment engagement at $8.8 trillion, which is approximately 9 per cent of the global GDP. Embracing AI can reduce this loss significantly.
“Optimal employee engagement serves as an innovation catalyst, productivity driver, and competitive advantage enabler. AI can be deployed to enhance these qualities through data-driven insights, predictive analytics, and personalized interventions”, he expounded.
To get the best of the technology, he urged businesses to be mindful of ethical considerations around its adoption, noting responsible deployment.
He said “As organisations embrace AI, it is crucial to prioritize transparency, accountability, and fairness to mitigate potential risks and ensure ethical deployment.
“AI would be part of our life and would impact every industry. Any business model that fails to embrace the innovation would be extinct.”
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