Access Bank Plc has unveiled an app for Small and Medium Enterprises (SMEs) to help small businesses adopt artificial intelligence (AI), improve productivity and expand operations.
Speaking at the bank’s maiden Micro, Small and Medium Enterprises (MSME) Conference on Friday in Lagos, the Senior Special Assistant to the Nigerian President on Entrepreneurship Development, Ms. Chalya Shagaya, urged MSMEs to embrace AI and digital tools to improve productivity and expand markets.
Shagaya said that technology had become essential for business growth, warning that entrepreneurs who failed to adopt AI risked being left behind.
She described entrepreneurs as critical partners in the Nigerian Government’s drive to build a one trillion dollar economy and commended their resilience despite the country’s challenging business environment.
According to her, entrepreneurship requires perseverance, innovation and continuous learning because technology continues to evolve rapidly.
Shagaya said that AI could help businesses automate routine tasks, generate invoices, analyse sales data, manage inventory, understand customer preferences and improve operational efficiency.
She encouraged entrepreneurs to leverage digital marketing and social media platforms to reach customers beyond their immediate locations and transform local businesses into global brands.
The presidential aide said that the Nigerian Government was providing infrastructure and policies to support digital innovation and AI adoption among businesses.
She disclosed that President Bola Tinubu had approved a national AI policy and directed the Ministry of Communications to establish an AI hub for entrepreneurs and businesses.
According to her, the hub will provide capacity building and opportunities for businesses to scale their operations.
Shagaya urged business owners to continue learning and adapting to emerging technologies, saying AI was already reshaping commerce.
Earlier, the Head of SME Banking, Access Bank, Mrs. Taiwo Adeola, described MSMEs as the backbone of the Nigerian economy.
Adeola said that MSMEs contributed about half of Nigeria’s Gross Domestic Product and accounted for about 84 per cent of employment.
She described MSMEs as the bank’s most important customer segment and assured participants of sustained support beyond access to finance.
According to her, the bank remains committed to helping businesses grow through capacity building, innovation and practical solutions tailored to their needs.
GIK/APA