Discussions underscored AI’s critical role in customer engagement, inventory management, data analysis, and decision-making within a rapidly digitizing economy.

Industry voices and experts at the event urged leveraging AI as a digital co-pilot to improve operations, forecast trends, and meet digital-first customer expectations, while noting that nearly half of small businesses fail in the first year.

Prof. Sunday Adebisi of the University of Lagos Business School highlighted Nigeria’s MSMEs, numbering around 39–42 million and forming a large share of employment and GDP, with SMEs comprising most businesses in the country.

AI is presented as a cost-efficient tool for automating inventory, analyzing customer behavior, and optimizing supply chains in MSMEs, while also supporting inclusive participation for neurodivergent entrepreneurs.

The Nigerian federal government endorsed Access Bank’s new AI-powered mobile app for SMEs, unveiled at a Lagos SME Conference, underscoring AI and digital tools as pivotal to productivity, market access, and enterprise growth.

Panelists said AI can automate invoicing, inventory management, sales analysis, and customer engagement, boosting efficiency but cautioned against blind reliance on AI content and stressed the need for human judgment.

Shagaya highlighted that AI can enhance inclusion for neurodivergent entrepreneurs, but also warned that AI outputs should be used alongside human judgment due to potential inaccuracies.

Industry voices emphasized that AI is essential for improving efficiency, expanding customer bases, and scaling operations for small businesses.

Lanre Bamisebi of Access Holdings stressed that digital transformation begins with understanding customer needs, reinforcing that technology is an enabler rather than the end goal.

The Federal Government aims to create an enabling environment for businesses and to solicit feedback on regulatory bottlenecks affecting operations.

Huawei Nigeria’s country manager noted AI helps SMEs compete with larger firms by improving customer understanding, efficiency, and expansion via digital platforms.

The conference covered practical digital transformation, cloud technology, financial management, and strategies for expanding into new markets amid economic challenges.