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Olugbemi. Adeyinka Ogunleye
1 week ago
Overview
Exploring how startups in Nigeria are leveraging AI technologies to innovate and improve their services
Like that of the other countries of the globe, the landscape of Nigeria in the present context is buzzing with the innovative ideas of start-ups, and it is culminating in the integration of AI. The key trend in Nigeria is now that start-ups and small businesses are diving into AI to shake things up across different industry verticals. AI in Nigeria has emerged as a potential weapon that is allowing the business endeavors to come up with exclusive product or service offerings. Let’s take a look at the below pointers to identify how the startups in Nigeria are capitalising on the potential of AI for optimizing their service offerings.
The ways through which Nigerian startups are revolutionizing the services
Transformation of the healthcare
In Nigeria, AI in the healthcare market is anticipated to reach $0.13 Bn by 2030, and on the other hand, in 2022, the market growth rate is around $0.01 Bn. It clearly depicts the huge growth of AI in the emerging market like Nigeria, and it demands investment from both the public and private sectors. When the rise of AI and its thriving condition have given rise to a sense of fear among the professionals, 67.5% of healthcare professionals have accepted AI as a benevolent force. If you look at the recent data, you will end up with a complete list of the healthcare startups that are continuing to thrive in the commercial sphere. EpochZero, Octosoft, Hub Care Health, Mpharma, and others have remained at the forefront of the healthcare sector of Nigeria, ensuring the right care and treatment for the ailing. The eminent online community in Nigeria is also acting as a major platform to the startups for flaunting their innovative product and service offerings to the targeted segments.
Enhancement of the agricultural practices
As agriculture has turned into a major part of the Nigerian economy, the startups are capitalizing on AI to help farmers grow more. In turn, it also reduces waste. Through the AI tools and solutions, farmers can monitor soil health, track crop conditions, and even predict yields. Zenvus in Nigeria is relying on the smart irrigation systems for analysis of the soil data to help them in making informed decisions. In return, you can experience higher productivity and top-quality crops. As a result, the chances of food scarcity will vanish automatically, and even the condition of Nigeria will continue to improve in the coming days.
Implementation of AI in Education
Artificial Intelligence Nigeria has reached such an extent that it has even taken part in optimizing the quality of education, and the startups in the present context are personalising the lessons for a unique learning experience. In Nigeria, edtech companies like Edves, Schoola, EduWidget, Proctorme, and so on have occupied the domain of education in the current scenario and delivered the custom learning experiences to the new-age learners. Nigerian startups this way are focussing on different niches like education and others to make the process of service delivery more fun-filled and engaging.
Amping up the standard of financial services
The tech industry in Nigeria, under the veneer of startups, is utilising AI for various applications such as fraud detection, risk assessment, personalised banking experiences, and other significant financial activities. Through the analysis of customer data, these companies can come up with custom financial products that meet individual needs. On a contrary note, AI algorithms help in the identification of unusual transaction patterns. In turn, it enhances security and trust in the system of financial transactions. Nigerian tech startups are mitigating the dread of financial fraud and ascertaining a high standard of security at the same time.
Bottom Line
As the landscape of AI in Nigeria is rapidly evolving, it is compelling Nigerian startups to remain at the forefront of this transformation. Through the utilisation of AI technologies, these start-up companies can not only improve their services but also address pressing challenges across varied industry verticals. Teaming up with the best online community in Nigeria , the budding business endeavours can stay ahead of the curve.