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ARTIFICIAL INTELLIGENCE
African CEOs are leveraging AI to accelerate customer experiences
By our News Team | 2023
Top execs want to use advanced forms of AI and analytics for better customer service and improve productivity. But it’s not plain sailing.
A study by the IBM Institute for Business Value has found that African CEOs identify customer experience as their highest business priority.
Their next highest priorities are better productivity and greater profitability to achieve their business goals.
However, they face barriers to achieving these priorities as they adopt new technologies like generative AI.
Photo by Pixabay via Pexels
The annual study, entitled ‘CEO decision-making in the age of AI’, found that African CEOs expect to realise significant value from advanced forms of AI and analytics such as:
- Cloud computing.
- Automation.
- Generative AI.
- Deep learning.
- Machine learning.
- Advanced analytics.
However, African organisations face influential external factors hindering their AI readiness over the next three years. Over half (53%) of African CEOs identify technology factors as the most impactful force that could significantly impact their respective AI adoption journeys.
Additionally, regional CEOs cite market factors (51%), regulatory factors (49%) and workforce and skills (33%) as leading external factors that are having the most significant impact on their organisations.
Unclear data calculation and reporting is a risk
African CEOs face several data challenges too, with nearly half of the respondents citing unclear data calculation and reporting across suppliers and partners (48%) and within their organisations (47%) as the most critical risks or barriers.
“The Fourth Industrial Revolution has presented Africa with an opportunity to leapfrog various stages of economic development. Consequently, African organisations are leveraging generative AI and emerging innovation models to accelerate innovation, enhance customer experiences, productivity, profitability, and environmental sustainability – to name a few,” says Julia Carvalho, General Manager of IBM Africa Growth Markets.
“However, it’s critical that CEOs in Africa establish and implement clear and consistent standards as it concerns the utilisation of AI across all areas of strategic focus … it will determine the level of investment and, ultimately, an organisation’s success in a rapidly advancing digital economy,” adds Carvalho.
Findings include:
- Over half (54%) of CEOs surveyed pinpoint customer experience as a top priority for their organisation.
- CEOs surveyed say technology factors remain the top external force impacting their organisation over the next three years.
- CEOs in Africa are increasingly looking toward operational, technology and data leaders as strategic decision-makers.
You can download the full global report, entitled ‘CEO decision-making in the age of AI’, here.
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