Access Bank Plc has introduced a new artificial intelligence platform, the Access SME App, created to assist small and medium-sized enterprises in streamlining their daily operations. The tool was officially revealed during the bank’s inaugural SME conference in Lagos, titled AI for SMEs: Scaling Through Digital Tools.
During the event, various industry leaders and government representatives emphasized that artificial intelligence is now essential for business growth and operational efficiency. Chalya Shagaya, an aide to the President on Entrepreneurship Development, encouraged entrepreneurs to utilize AI to automate repetitive tasks, such as marketing and accounting, which often overwhelm small business owners.
Prof. Sunday Adebisi of the University of Lagos Business School noted that while SMEs are vital to Nigeria’s economy, many face early failure. He suggested that AI-driven data analysis could help these owners make more informed strategic decisions. Abiodun Olubitan, Head of SME Banking at Access Bank, explained that the app was designed to be user-friendly, allowing entrepreneurs to track inventory, staff performance, and sales from a centralized location.
Furthermore, Lanre Bamisebi from Access Holdings Plc clarified that digital transformation is primarily about identifying customer needs rather than just adopting technology. Huawei Nigeria representative Glarry Gao echoed this sentiment, stating that AI allows smaller entities to effectively compete with major corporations by leveraging digital platforms for greater efficiency.
