Entrepreneur and IT expert, Dr. Victor Afolabi, has stated that government and businesses that incorporate Artificial Intelligence (AI) will not only become more efficient but also deliver better quality work with fewer resources which will lead to economic growth and infrastructural development.
Speaking at the 4th CEO Summit 2025, themed “Positioning for Sustainability in Unpredictable Times,” recently organised by the Centre for Values in Leadership (CVL), in Lagos, Founder/Chief Executive Officer of GDM Group, Dr Victor Afolabi, emphasised the transformative power of AI in reshaping governance, businesses and keeping them competitive as this is no longer optional but a necessity in an increasingly digital world.
He alluded that many organisations were still burdened by inefficiencies and dead weights that inflate operational costs and ultimately affect the bottomline.
Hence, government parastatals and businesses should effectively embrace AI, automation that will lead to digital transformation.
He highlighted the significance of efficiency in business operations, as business leaders needed to evaluate their systems and ensure they were driving significant efficiency across the business value chain.
“Leaders must leverage strategic foresight to create authentic and sustainable guidance that will lead to infrastructural development and economic growth,” he advocated.
Speaking on the global trade war, he said, “Trade wars leave everybody hurt. But for us, we are not a major global player. We are recipients of actions of global economies.”
He, however, warned that businesses and citizens must prepare for extended hardship.
“The rainy times that Nigeria is facing will be a bit longer. Businesses need to be prepared for more long-drawn, difficult times.”
He said, “What analysts are already predicting is that there is likely going to be a global recession in 2025. When there is a global recession, the aftermath on a country like ours is that we don’t participate in global economic matters—we are recipients of the impacts.”
In his remarks, the Executive Director of CVL/ Team Lead Global Impact, Mr Rume Daniel, highlighted the role of CEOs which lead to societal and economic transformation.
He reiterated that the summit reinforced the need for adaptive leadership, technological adoption, and long-term economic planning as Nigeria braces for tougher times ahead.
Daniel asserted that the number of people entrepreneurs and business owners take off the streets out of unemployment into the workforce is huge just as the products and services that go into society to make a difference are also huge.
“Beyond profits, the CEO is a force for good in our world, a force for change. As we grow our organizations, we ultimately grow society.
“Everything rises and falls on leadership, the better the leader, the better the organisation, the better the nation,” he stated
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