E-Business
Embracing AI to Help Reshape Business Dynamics and Customer Interaction
By Tamara Rajić, Director of Business Strategy EMEA at Infobip
World Innovation and Creativity Day fell on the 21st of April, reminding us of the boundless potential inherent in human ingenuity and technological advancement. Artificial Intelligence (AI) stands at the forefront of this celebration, reshaping the landscape of business operations and customer engagement.
The combination of advanced data analytics with cloud computing has propelled AI into the spotlight, making its integration more accessible across industries.
Unlocking AI’s potential – why companies can’t afford to miss out
What is remarkable is how AI adoption is growing its accessibility to the public. Platforms such as OpenAI, ChatGPT, and Dall-E have opened the doors to AI technologies, empowering individuals, and businesses alike to effortlessly explore and incorporate AI-driven solutions into their plans. This has sparked a culture of innovation and empowerment, enabling businesses to harness AI to expand their performance and efficiency.
Take AI-driven communication tools, like chatbots and virtual assistants for example. They are changing customer service experiences by delivering personalised, efficient, and proactive interactions. These solutions not only streamline support processes but also forge deeper connections with customers, fostering satisfaction, loyalty, and ultimately, business growth. Furthermore, AI empowers businesses to gather actionable insights from customer data, facilitating informed decision-making and targeted strategies.
Data quality plays a crucial role in the successful implementation of AI. Without complete and consistent data, implementing AI-powered technologies can lead to inaccurate results and hinder business decision-making. This is why it is important for businesses to invest in data quality assurance processes. And by analysing customer feedback across various channels, AI offers a deeper understanding of preferences and needs, enabling businesses to tailor their offerings and communication strategies accordingly. This level of personalisation increases the customer experience, promoting long-lasting relationships and brand loyalty.
Chatbots and virtual assistants are some of the most widely used AI-powered communication solutions out there, spanning across multiple industries and business types. They provide instant responses to inquiries, assist with product recommendations, and help with tasks like order tracking and appointment scheduling.
Navigating challenges in AI implementation
AI-driven automation streamlines processes, reduces manual workloads, and enhances operational efficiency, driving competitiveness and revenue growth. By leveraging AI-powered insights, businesses can identify high-value opportunities, estimate market trends, and improve resource allocation, thereby increasing ROI and market share.
This innovation is expected to catalyse significant transformations in traditional sectors such as banking and retail, leading to more personalised experiences and innovative consumer approaches. By understanding individual preferences, behaviours, and purchasing patterns, these sectors can offer tailored product recommendations, targeted promotions, and customised services.
With this being said, it is important to underline the critical function AI serves in customer support. By reducing wait times through AI-powered chatbots and providing assistance through the customer’s preferred communication channel, businesses can ensure a significant uptake in customer satisfaction.
Integrating AI into existing tools and systems does not come without its challenges. Businesses can encounter compatibility issues, data silos, and a shortage of skilled professionals with expertise in AI and machine learning within their talent pool. Demonstrating ROI in the early stages of AI technology adoption can also be challenging due to these obstacles. It is therefore important to identify high-potential use cases and the most impactful areas where AI can drive business growth and positive customer satisfaction and start from there.
Overcoming obstacles – to maximise AI’s potential
With its increasing accessibility and transformative potential, AI is fostering innovation, and amplifying creativity. By taking into consideration AI-driven insights and solutions, businesses can personalise interactions, streamline operations, and anticipate customer needs. However, this journey is not without trial and error. It demands careful navigation of data quality and integration complexities. Nonetheless, businesses should embrace AI as a catalyst for creativity and innovation, to unlock new possibilities, enriching the human experience and propelling organisations towards a future where the boundaries between humanity and technology seize to exist.
E-Business
US Supreme Court Upholds Law Banning TikTok
The United States Supreme Court has upheld a law seeking to ban TikTok in the United States.
The court ruled that the law does not infringe upon free speech rights, citing the US government’s legitimate national security concerns about the Chinese ownership of the app.
Last week, the Supreme Court listened to the arguments from ByteDance, TikTok’s parent company, claiming the law violated free speech.
“There is no doubt that TikTok provides a unique platform for expression, engagement, and community to over 170 million Americans,” the justices stated.
With this decision, the ban set for Sunday remains in place, despite calls from lawmakers and officials across the political spectrum for a delay.
Last year, Congress passed a law requiring ByteDance to sell TikTok or shut it down in the US by January 19, reflecting widespread concerns in Washington that the app could be exploited by China for espionage or propaganda.
On Friday, White House officials informed the media that the ban would not be enforced, leaving the final decision to President-elect Donald Trump, who assumes office the next day.
In December 2024, TikTok asked the US Supreme Court to temporarily block a law that would force its Chinese owner to sell the popular video-sharing platform or shut it down by January 19.
The appeal came the same day TikTok, Shou Zi Chew, CEO, met with US President-elect Donald Trump.
E-Business
FG Says NINs will Facilitate Cash Transfers to 18.1m People
Federal government has plans to expand the national social register to 18.1 million names and to reach at least 70 million poor households across the country by the end of this year, according to Prof Nentawe Goshwe Yilwatda, minister, Humanitarian Affairs, Disaster Management and Social Development (FMHADMSD).
Federal government has been distributing cash assistance to poor citizens through a program that requires verification using the National Identification Number (NIN).
The rate of poverty in the country is alarming, the minister said in an interview with Arise News, reason why the federal government plans to extend the humanitarian outreach program to target more homes. Each household receives the sum of N75,000 ($45).
Giving update on the payments, the minister said the first tranche of the conditional cash transfers were paid to five million households between October and December 2024, while the second and third tranches were paid to 2.8 million households.
“The president has directed, based on CBN’s new regulations, that before any payment is made to an individual or household, they must have a digital identity we can trace. That is the NIN number,” the Yilwatda told Arise News.
The cash transfer enabled by digital ID was launched in 2023, and last year, the federal government said around 25 million Nigerians had already benefitted from the scheme.
E-Business
NIMC Grants NCoS Licence to Register Inmates for NIN
National Identity Management Commission (NIMC) has granted licence for the Nigerian Correctional Service, (NCoS) to register inmates in the over 252 custodial centres across the country for National Identity Numbers, (NIN).
The approval followed the request made by Sylvester Nwakuche, acting controller general of the NCoS, who paid a visit to Engr Abisoye Coker-Odusote, director general/chief executive Officer of NIMC, in her office.
The acting controller-general, said the licence to carry out registration of inmates for NIN would eliminate exclusion of inmates from the country’s National Development plans, ensure their safety and security and facilitate their smooth recapture in times of jailbreaks.
The NCoS boss said the visit to the headquarters of NIMC was in search of collaboration that would enable the Service carry out its mandate seamlessly following on going reforms of the Correctional Service system.
According to Nwakuche, there are lots of socio-economic developments within the Correctional Service systems which had led to a number of inmates obtaining University degrees, Masters Degrees and Doctor of Philosophy (PhD) in various fields.
He said such inmates should not be excluded from the national development plans of the country as they should be integrated into the society to become useful for their families and the country.
Nwakuche said inside the Correctional centres are those awaiting trials whose innocence and otherwise has to be decided by the Courts, but argued that in times of National planning, census and other critical national development issues, they should not be disallowed from participating.
Coker-Odusote who granted the licence said NIN has become critical and essential to the country’s national development plans, stressing that NIMC has gone far with the private sector, especially the banks and the Central Bank of Nigeria (CBN) as all banks accounts are now linked with the NIN.
Coker-Odusote said the Eight points Agenda of President Bola Tinubu are also anchored on the Country’s digital identity or National identity Number, stressing that for instance NIN was tied to students loans to eradicate duplicity and prevent ghost beneficiaries.
Coker-Odusote expressed delight in the partnership with the NCoS, saying that the Commission had already entered into partnership with the Nigeria Immigration Service, NIS and other agencies in order to facilitate the smooth delivery of their constitutional mandates.
She commended Dr Olubunmi Tunji-Ojo, minister of Interior, for his dynamic leadership and role in ensuring the delivery of dividends of democracy to Nigeria through various reforms.
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