Business

Sterling Bank CEO advocates for AI dev’t to maintain global competitiveness

Managing Director and CEO of Sterling Bank Limited, Mr. Abubakar Suleiman has said it is critical for the government and corporate bodies to pay attention to the development of Artificial Intelligence (AI) to remain competitive in the emerging global economy.


In a keynote address at the just concluded Innovate AI Conference in Lagos themed “Adapting AI For Nigeria, Crafting Intelligent Solutions for Our Unique Landscape,” Suleiman warned that neglecting AI could jeopardize efforts aimed at enhancing business efficiency and national competitiveness. He said countries and companies failing to embrace AI risk falling behind, as AI-driven technologies offer the potential for significantly higher productivity.


He said, “If we fail to pay attention to artificial intelligence, all our efforts at ease of doing business, national competitiveness will come to nought because those who deploy technology on this scale will be able to deliver higher productivity than we do. And for those of us in the private sector, the same way the country will become less competitive is the same way in which companies that fail to embrace AI will become less competitive and they will die.”