Businesses Turn to AI Amid Economic Pressures
The Regional Managing Partner for EY West Africa, Anthony Oputa, has said Nigerian businesses are increasingly adopting artificial intelligence to improve productivity and strengthen operations amid economic uncertainty.
Oputa stated that companies across Nigeria and West Africa now view AI as a critical tool for growth, efficiency, and long-term sustainability.
According to him, many firms have moved beyond basic experimentation and are now deploying AI in strategic business units to improve performance and reduce operational risks.
“As global inflation and supply chain disruptions persist, West African firms are leveraging smart technology to insulate themselves against market shocks and drive operational efficiency,” he said.
He added that businesses in the region face several economic challenges but still have opportunities for expansion through innovation and digital transformation.
Companies Focus on Targeted AI Deployment
Oputa explained that organisations now prioritise departments where AI can deliver measurable impact, including logistics, finance, and customer service.
“The key is identifying the business units where AI can accelerate productivity and transform decision-making,” he stated.
A new EY-Parthenon 2026 CEO Outlook report revealed that 93 per cent of Nigerian companies have already adopted some form of AI to streamline operations and improve efficiency.
The report also showed that business leaders increasingly prefer long-term resilience over short-term automation gains.
CEOs Prioritise Workforce Development
The survey found that many executives now see AI as a tool that supports workers rather than replacing them.
According to the report, 42 per cent of CEOs plan to reskill employees to maximise AI adoption, while 44 per cent are redesigning job roles to improve collaboration between humans and technology.
EY-Parthenon Global Vice Chair, Andrea Guerzoni, said companies now focus more on workforce development than job cuts.
“CEOs see AI as a tool to help workers do better, not replace them,” Guerzoni said.
The report added that only 20 per cent of executives expect AI to reduce hiring over the next three years, compared to 46 per cent recorded a year earlier.
Firms Pursue Strategic Partnerships
Despite growing concerns over geopolitical tensions, rising energy costs, and changing trade regulations, many companies continue to pursue expansion strategies.
The report showed that 89 per cent of CEOs plan to engage in mergers, acquisitions, or strategic partnerships within the next year.
Nearly half of the respondents said they would pursue deals specifically to access advanced AI technology and specialised talent.
Business leaders noted that organisations with skilled employees and strong digital systems would remain more competitive in a rapidly changing global economy.
