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African CEOs Identify Advanced AI and Analytics as Success Drivers – IBM Study
A new global study by the IBM (NYSE: IBM) Institute for Business Value found that over half (54%) of African CEOs surveyed identify customer experience as their highest business priority.
They also recognize productivity or profitability as key to achieving their business goals, ranking it their second highest priority (46%). However, they continue to face key barriers as they race to modernize and adopt new technologies like generative AI.
The annual CEO study*, CEO decision-making in the age of AI, Act with intention, found that African CEOs expect to realize significant value from advanced forms of AI and analytics such as cloud computing, automation, generative AI, deep learning, machine learning, advanced analytics, and more.
However, African organizations face influential external factors hindering their AI readiness over the next three years. Over half (53%) of African CEOs identify technology factors as the most impactful force that could significantly impact their respective AI adoption journeys.
Additionally, regional CEOs cite market factors (51%), regulatory factors (49%) and workforce and skills (33%) as leading external factors that are having the most significant impact on their organizations.
More than half (57%) of global CEOs surveyed cite concerns concerned about data security, and 48% worry about bias or data accuracy, barriers they indicate could slow their adoption of generative AI.
African CEOs face several data challenges, with nearly half of the respondents citing unclear data calculation and reporting across suppliers and partners (48%) and within their organizations (47%) as the most critical risks or barriers.
“The Fourth Industrial Revolution has presented Africa with an opportunity to leapfrog various stages of economic development.
“Consequently, African organizations are leveraging generative AI and emerging innovation models to accelerate innovation, enhance customer experiences, productivity and profitability, and environmental sustainability, to name a few,” said Julia Carvalho, General Manager of IBM Africa Growth Markets.
“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.”
Key study findings include:
CEOs in Africa say customer experience and productivity, or profitability, are pressing priorities
- Over half (54%) of CEOs surveyed pinpoint customer experience as a top priority for their organization, whilst productivity or profitability follows as their second highest (46%).
- Additionally, CEOs surveyed say technology factors remain the top external force impacting their organization over the next three years.
CEOs in Africa are increasingly looking toward operational, technology and data leaders as strategic decision-makers.
Additional data gathered during the survey indicates the following:
- When asked which C-Suite members will make the most crucial decisions over the next three years, CEO respondents identify COOs (63%) and CFOs (54%).
- The influence of technology leaders on decision-making is growing – 41% of surveyed CEOs point to CIOs, followed by Chief Technology or Chief Digital Officers (39%), as making the most crucial decision-makers in their organization.
CEOs in Africa expect to realize significant value from advanced forms of AI and analytics. However, the absence of consistent standards in strategic focus areas is affecting investment
- Half (50%) of African CEOs report generative AI, deep learning, and machine learning will deliver the results they need over the next three years; 58% say they expect cloud computing to deliver the most results, while 51% bank on automation.
- However, around 6 in 10 (60%) of CEOs in Africa report a lack of clear standards in one or more strategic focus areas and are delaying investments as a result.
CEOs in Africa say sustainability is their top challenge amid their respective AI journeys, and they also face a balancing act when it comes to engaging in challenging public issues
- 39% of CEOs identify environmental sustainability as their greatest challenge over the next three years, followed by cybersecurity and talent recruiting/retention, with 28% each.
- However, CEOs are wary about taking a public stand on social, geopolitical and ESG issues impacting customers and employees. While 73% of CEOs believe they should take a stand, 39% say they regret a public stand they have taken in the past three years.
MoMo PSB has announced a partnership with Leadership Strategy Sustainability Business Innovation (LSSBI) Advisory to enhance financial inclusion and streamline tax payments in Ekiti, Nasarawa, and Rivers states.
This collaboration introduces MoMo as the official payment platform for taxpayers, enabling easy and convenient payments via the USSD code *5229#.
Nigeria CommunicationsWeek report that the partnership aims to boost compliance, drive revenue development, and promote financial autonomy for marginalised communities. Key stakeholders highlighted the significance of this collaboration in closing the financial gap and promoting economic growth.
Read Also: MTN Nigeria takes full control of MoMo bank for $4.6m
With this initiative, MoMo PSB reaffirms its commitment to providing accessible and user-friendly financial services to all Nigerians, particularly the unbanked and underbanked populations.
The launch of the USSD code *5229# demonstrates MoMo PSB’s dedication to expanding financial inclusion and promoting digital payments.
Ekiti State officials lauded the partnership, commenting on the convenience of using the MoMo payment platform, while emphasising its potential to increase tax compliance and benefit local communities.
The collaboration is part of a broader initiative to empower citizens with financial autonomy, encourage saving, and promote responsible money management.
As the rollout begins in Ekiti, Rivers, and Nasarawa, MoMo PSB and LSSBI Advisory aim to expand the initiative nationwide, encouraging other states and private sector partners to explore similar collaborations, leveraging technology to improve access to financial services. This partnership marks a new era in tax payment solutions, prioritising efficiency, inclusivity, and financial empowerment for all Nigerians.
MoMo PSB, established in May 2022 as the fintech division of MTN, continues to focus on delivering user-friendly, accessible, and affordable financial services to both new and existing customers across Nigeria.
Globacom has unveiled a new device acquisition scheme to enable Nigerians own smartphones and pay conveniently over several months. The scheme is dubbed: “Buy Now, Pay Small Small” and is available in Gloworld shops across the country.
The scheme aims to bridge the digital divide by enabling individuals and businesses have access to the latest smartphones and devices more conveniently. This, Globacom claims, will make customers more connected and more productive.
A press statement released by Globacom explained that it is offering flexible payment options to its customers so they can acquire devices of their choice and spread the cost of these new devices over several months through instalment payments that is manageable for them.
The scheme has a wide range of smartphones and other smart devices from top brands that customers can chose from.
This device financing is available to all new and existing Glo customers who can avail the benefits of the programme when purchasing new devices from Gloworld stores across Nigeria.
Moreover, customers can choose from various payment plans to suit their budget, with tenures of up to six months and special interest rates on all flagship devices.
Globacom said customers who purchase devices under the programme will also be given a data bonus of 18GB for six months, adding that it is focused on customer satisfaction, through ensuring a convenient system of smartphone acquisition for Nigerians.
Starlink Week at Konga, an exceptional opportunity to acquire reliable satellite internet at a significantly discounted price, ends tomorrow, Saturday, August 31, 2024.
Nigeria CommunicationsWeek gathered that customers now have chance to secure a Starlink kit at an exceptional price and experience the transformative power of high-speed internet.
Throughout the week, Konga has been dedicated to making Starlink’s cutting-edge technology more accessible to Nigerians.
Read Also: Konga Announces Starlink Week: An Opportunity To Own High Speed Internet Kit
The e-commerce giant offered Starlink kits and accessories at reduced prices, along with perks that have made this offer hard to resist.
In addition to the unmatched prices, Konga included free nationwide delivery to ensure that customers from every corner of Nigeria benefited from this offer.
Konga also provided free same-day delivery in major cities like Lagos, Abuja, and Port Harcourt, ensuring that customers can start enjoying their Starlink experience almost immediately.
As Starlink Week draws to a close, this is the final call for those who still need to take advantage of this limited-time offer.
The discounted prices, combined with the exceptional delivery options, represent a rare opportunity to invest in a technology that has revolutionized internet accessibility across the globe.
Konga’s Starlink Week has been more than just a promotional event; it has been a gateway to connectivity, offering Nigerians a reliable solution to their internet needs.
Starlink provides the service you need to stay connected wherever you are in Nigeria.
Take advantage of this exclusive opportunity. Visit Konga.com today or walk into any of Konga’s retail stores to secure your Starlink kit before the campaign ends.
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