Recent data reveals the growing influence of AI on Nigerian businesses, offering critical insights for organizations aiming to leverage AI for growth.
According to the 2024 Work Trend Index, the use of generative AI in the global workplace nearly doubled in the first half of the year.
This trend is evident in Nigeria’s fintech sector, where 29% of companies have adopted AI for content creation.
The Nigerian AI market is projected to reach $1.05 billion in 2024, with 90% of companies expected to adopt AI technologies.
However, challenges remain in AI readiness, particularly in strategy and skills development. Microsoft Nigeria’s Country Manager, Ola Williams, emphasized the need for businesses to move from experimentation to impactful AI adoption.
The report also highlights that while employees are eager to use AI, many leaders lack a clear AI strategy, presenting an opportunity for organizations to drive meaningful business outcomes through strategic AI integration.
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“Our latest research reveals that Nigerian businesses are not alone in the challenge to move from experimentation to tangible business impact where AI is concerned.
“In fact, the Work Trend Index shows that though employees are increasingly bringing AI tools to work, many leaders are worried their company lacks an AI vision. It reveals a clear opportunity for organisations to look at AI adoption more holistically and drive more impactful business outcomes,” says Ola Williams, Country Manager for Microsoft Nigeria.
Employees want AI at work — and won’t wait for companies to catch up: Seventy-five percent of knowledge workers globally now use AI at work. Employees, many of them struggling to keep up with the pace and volume of work, say AI saves time, boosts creativity, and allows them to focus on their most important work. In fact, past studies conducted among professionals in Africa have shown how important technology like automation is to employee retention.
But although 79 percent of leaders across the world agree AI adoption is critical to remain competitive, 59 percent worry about quantifying the productivity gains of AI and 60 percent say their company lacks a vision and plan to implement it. So, according to the Work Trend Index, employees are taking things into their own hands.
Around 78 percent of AI users are bringing their own tools to work — Bring Your Own AI (BYOAI) — missing out on the benefits that come from strategic AI use at scale and putting company data at risk. The opportunity for every leader is to channel this momentum into business impact at scale.
For employees, AI raises the bar and breaks the career ceiling: Although AI and job loss are top of mind for many, the data offers a more nuanced view — one with a hidden talent shortage, employees eyeing a career change, and massive opportunity for those willing to skill up on AI.
In Nigeria’s technology sector the skills gap is a substantial challenge, ongoing efforts to improve education and training will help bridge this gap. Interestingly though, professionals across the globe are skilling up on their own.
As of late last year, we’ve seen a 142x increase in LinkedIn members adding AI skills like Copilot and ChatGPT to their profiles and a 160 percent increase in nontechnical professionals using LinkedIn Learning courses to build their AI aptitude.
In a world where AI mentions in LinkedIn job posts drive a 17 percent bump in application growth, it’s a two-way street: Organisations that empower employees with AI tools and training will attract the best talent, and professionals who skill up will have the edge.
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The rise of the AI power user — and what they reveal about the future: Four types of AI users emerged in the research — from sceptics who rarely use AI to power users who use it extensively.
“AI is poised to unlock formidable growth prospects for businesses across the country and employees are eager to embrace the technology and enhance their work with its capabilities.
Additionally, our new AI-Powered Coaching in LinkedIn Learning helps learners find the content they need to grow their skills faster, with greater personalisation and guided conversational learning.