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5 Core Business Areas where AI can Drive Revenue
By Kehinde Ogundare, Country Manager, Zoho Nigeria.
According to the United Nations, artificial intelligence (AI) has the potential to contribute up to $15.7 trillion to the global economy by 2030 – of which $1.2 trillion could be generated by Africa. With the potential to unlock significant growth and development in key industries across the continent, AI is fundamentally changing how businesses operate, driving innovation, improving efficiencies, and transforming lives.
Kehinde Ogundare, Country Manager, Zoho Nigeria
Businesses of all sizes that have already invested in AI are reaping its benefits, from increasing business productivity and agility to improving customer experience and decision-making with McKinsey noting that AI leaders are outperforming their industry peers by a factor of 3.4.
But if businesses are to make the most of the opportunities offered by AI, it’s also important that it be deployed in the areas where it will have the greatest impact. Here are some areas and subsequent examples of how businesses can use AI within those areas to drive revenue.
1. Finance and billing
One of the most obvious places AI can help drive revenue in a business is in finances and billing. Having an accurate, up-to-date overview of finances can help an organisation know when to invest in growth, for example. And if a business wants a steady revenue flow, it must send out bills, invoices, and payment reminders on time.
Here, AI can help in several ways. When it comes to expense bills, for example, an AI tool with built-in image recognition would allow a business to scan its bills with the system, then auto-generate the amount, place, date, time, and category of expense, helping save loads of time and effort. For billing, meanwhile, AI can greatly speed up the onboarding process for new clients by automating large parts of it. AI-powered tools can also extract relevant information from invoices, including customer details and product descriptions, and automatically populate billing systems, creating further efficiency.
2. Lead prioritisation
Another key area is new business leads. More specifically, AI can help assess the calibre of leads that the sales team is bringing in. After all, two or three great leads can be more beneficial than 10 weak ones.
Using a points-based system, AI can help score leads according to their quality. That allows the sales team to better evaluate which leads are worth pursuing. In turn, that should allow them to make more sales at a more meaningful level.
3. Improved customer experience
Customer experience (CX), rather than product or price differences, has been the major differentiator for businesses for some time now. Customers are willing to spend more, are more likely to stay loyal, and recommend a business to friends and family if they have a good experience with it.
Businesses, therefore, need to pull out more stops than ever to ensure that their customer experience really stands out. Here again, AI can be helpful. Take sentiment analysis, for example. AI can help identify the most disgruntled customers, allowing customer success teams to focus on their needs and turn their experience of the business around.
4. Better targeted marketing
The most effective marketing today is highly personalised and targeted. AI can make it significantly easier to achieve the level of targeted personalisation necessary for marketing success today. Once integrated with a company’s data, an AI marketing tool can create and hone personalised marketing content based on each individual customer’s CRM data.
5. Enhanced employee productivity
There is a strong correlation between employee productivity and revenue. Employee productivity is in turn driven by positive employee experiences. The more productive your employees are, the higher your revenues and profit margins will be. AI can help improve both productivity and the overall employee experience by automating repetitive tasks, allowing employees to focus on the kind of meaningful work that drives increased revenues.
Embrace AI, but use the right providers
While AI can add immense value when it comes to driving revenue within organisations, it’s also critical that businesses know what they’re getting into when embracing AI. That means doing comprehensive background research and ensuring that they choose tools that meet their needs and adhere to privacy best practices.
Lagos is set to welcome top music business leaders, celebrities, business executives, and creative industry professionals from around the world as All Africa Music Awards, AFRIMA, partners with bridgeAfric, and UNESCO to host the Showbiz101 Global Workshop and Music Creation Camp.
The event, scheduled to take place from March 26th to 29th, 2025 aims to train young creatives, foster international collaborations, and further enhance the capabilities of creators and professionals along the value chain of music production and business.
Adenrele Niyi, Chief Experience Officer, (CXO), AFRIMA, said the partnership with bridgeAfric on the event underlined the AFRIMA institution’s commitment to empowering Africa’s creative industry.
“As AFRIMA, part of our mission is building capacity and fostering cross-border collaborations by empowering Africa’s creative industry and by providing platforms for artists to collaborate, grow, and break boundaries. Partnering with bridgeAfric for the Showbiz101 Global Workshop & Music Creation Camp is a no-brainer. This initiative is about more than just music; it’s about equipping young creatives with the tools, knowledge, and global connections they need to thrive in the industry,” Niyi said.
The AFRIMA CXO added that the event aligns with AFRIMA’s seven pillars, which include the Music Awards, Music Festivals, AFRIMA Creative Academy, Talent Discovery and Promotions, Music Business Hub, Advocacy, and Advisory & Policy Debates. “Our goal is to reinforce Africa’s position as a moving powerhouse on the global music scene—one hit, one artist, one opportunity at a time and we are excited to be at the fore front of driving this initiative,” she concluded.
According to Victoria Nkong, President of bridgeAfric who is also an Associate Producer for AFRIMA, the workshop aims to support the future of Africa’s creative industry by focusing on key areas including the need to educate and train young talents, saying, “We believe learning is essential to solving problems in the entertainment industry. This workshop will equip young people with the skills and knowledge they need to succeed.”
She said the event will feature performances, training sessions, and recording opportunities for artists.
Nkong added that the five-day event will bring top musicians together for a three-day global music camp, where they will create songs as a team. “By the end of the camp, we will have a global EP featuring top African stars from different countries,” she said.
“Another goal of the workshop is to help artists reach new audiences by connecting them with international music executives. This will open doors for them to promote their music in different parts of the world.”
Some of the top artists who have confirmed their participation in the conference and recording camp are Juma Jux from Tanzania, Nadia Nakai from South Africa and DJ Neptune from Nigeria. Ivory Coast will be well represented by global music superstars like the AFRIMA Award winner Didi B, Himra, Suspect 95, Kikimoteleba, Goulam, and Gabin Bao.
Other notable participants include Bizzle Osikoya, Co-founder of The Plug Entertainment, and Sesan Adeniji, General Manager of Vybz FM.
From Algeria, DJ MohGreen will bring his expertise, while Eric Bellamy from Live Nation Paris, France will contribute his knowledge of the global music industry. Sonia Aimy from Canada and Wendy Harawa from Malawi are also expected.
In addition to the workshop and music camp, Nkong said a welcome Industry party is scheduled for Wednesday to officially receive the participants.
She added that registration is free for music producers, songwriters, and artists who want to learn, network, and advance their music careers.
MTN Nigeria, the official telecommunications partner of the Nigerian Football Federation (NFF), has reiterated its unwavering support for the Super Eagles following their spirited draw with Zimbabwe in the World Cup qualifier match at the Godswill Akpabio Stadium in Uyo, Akwa Ibom.
Building on the momentum from their recent victory against Rwanda, MTN Nigeria had expressed strong backing for the national team ahead of the crucial fixture.
Tobe Okigbo, MTN Nigeria’s Chief Corporate Services & Sustainability Officer, stated before the game, “We are confident in the team’s ability to make Nigeria proud and qualify for the World Cup.”
Despite the draw, MTN Nigeria’s CEO, Karl Toriola, maintained a positive outlook. “While tonight’s outcome wasn’t what we hoped for, we remain steadfast in our support for the Super Eagles.
“This result is just part of the journey towards World Cup qualification, and we believe in the team’s resilience and ability to succeed,” Toriola said.
The match showcased the Super Eagles’ grit and determination as they found their rhythm against the Zimbabwean side.
Nigeria scored the first goal, demonstrating their prowess and fighting spirit, although the match ultimately ended in a draw.
This result has added to the excitement of Nigeria’s path to the 2026 FIFA World Cup.
MTN Nigeria, which signed a deal with the NFF in 2021 as the Official Telecoms Partner, has been a constant pillar of support for Nigerian football for over two decades.
The company’s commitment extends from grassroots to national levels, investing significantly in the development of local football.
“Our support for the Super Eagles and all national teams is part of our long-standing tradition,” Toriola added.
“We are building a sustainable legacy of collaboration, growth, and development in the football space.
“Tonight’s result doesn’t change our belief in the team’s potential to make all Nigerians proud on the global stage. We believe in our Eagles.”
As the Super Eagles regroup and prepare for their next qualifier, MTN Nigeria has called on all Nigerians to rally behind the team.
The company emphasized that this is a crucial time for unity and continued support, expressing confidence that the Super Eagles will overcome this challenge and strive towards securing a spot in the 2026 FIFA World Cup.
Trust Otorudo, Regional head of Smart Treasure, Lagos Operations, has said that among other reasons he found fulfilment in service to humanity, which aligns with one of the core attributes of Smart Treasure Investment, an investment platform. He noted that, this attribute fueled his passion and dedication for the platform, hence the reason he is committed to it.
By March 29, 2025, Otorudo will be one year with the ST platform and already he has touched many lives in philanthropic and charity works. This is aside all the financial and material benefits he said he has been able to achieve through his involvement with the ST project- with a great percentage of the amount committed to the ST charity course.
“Smart Treasure has made giving an easy habit for everyone who is a part of it, it comes natural to us,” Otorudo said.
“For nearly one year I have been with ST Team, it has been a very fulfilling relationship with different forms of activities. I have practically moved from being a needy to giving back to the society and this is as a result of my encounter with ST Team and I am forever grateful for that.
For Otorudo, the fact that the lives of people are being transformed for the better is enough motivation for him, and he expressed it this way: The ability to touch lives is my motivating factor- to give out to widows, the less privileged and those in need.
“At ST, we are not anti-government but partners in progress to help build an egalitarian society we can all be proud of, knowing that the government cannot do it alone.
“We cannot all be in position of power to affect lives but we can contribute to the growth of humanity through changing the lives of people, one person at a time. Which makes all the difference,” he averred.
Prior to his joining the Smart Treasure, Trust worked as a banker, contract staff for an insurance company, had a stint as a journalist and served as youth Corp member with the Nigerian Army, where he said the virtual of discipline, hardwork and service to humanity was instilled in him.
Presently, a VIP level 9 member, Otorudo advised those who were yet to register to the ST project to do so, if they are interested in changing their financial status.
He is presently on the list of Nigerians who will be visiting Dubai this July for an all-expenses paid trip, courtesy of ST Team. This is aside the numerous gifts he has been rewarded with, a car, an iphone and other high end gifts for his dedication and hard work.
Since 2023, Smart Treasure has involved itself with various charity works aimed at closing the gap between the rich and the poor in the society.
Among the ongoing projects are, ST Tech Academy, where members are being empowered with Information Technology skills; support to orphanages and schools for special children; and most recently, the salary subsidy initiative and an agricultural farm project aimed at feeding Nigerians from the proceed of agric farming.
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