AI will give you an answer and can even help you write a business plan. It can also develop a business brief, concept note and answer questions about markets. But do you know what? AI cannot execute what it has churned out for you in Nigeria because wealth in Nigeria remains mainly in the meatspace (physical) and not the cyberspace where AI chatbots rule by harvesting public knowledge systems.
Yes, the future is online but today, we are still living in the physical world when it comes to growing and ramping up a business in Nigeria. If you think you can win retail, insurance, banking, etc by relying solely online, you will not make progress in Nigeria. I am talking of making money (yes, profit) and not growing “valuations”!
Doubt that: visit your village open market and see what happens there. I am not sure any of those markets will be digitized in the next three decades! So, over the next few years, Nigerian companies will need more Do-Tanks and not Think-Tanks as AI is going to be in a position to do what those Think-Tankers do right now. Indeed, when ideas become largely common, what to do with the ideas becomes what matters, and that means “How Do I Apply the AI Response for my business?” rules.
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In Tekedia Institute’s Corporate Training program, we’re seeing that companies are focusing more on operations & execution, and that is partly because from visioning to strategy, tools like AI are assisting more. As always, I note that the only plan that has an impact is the one the customer has felt via products or services. If you plan or conceive a strategic framework, and customers have not been impacted by the outcomes, it means you have dissipated energy and wasted resources in the firm.
To avoid that economic heat dissipation, check your transfer systems and that means how you APPLY and execute. Become a better operator!
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