The Access Bank AI SME app is giving Nigerian entrepreneurs a new way to grow their businesses with artificial intelligence. Access Bank launched the Access Bank AI SME app to help Micro, Small and Medium Enterprises (MSMEs) improve productivity, simplify operations and scale through digital technology.
The bank unveiled the new platform during its maiden MSME Conference in Lagos. The conference carried the theme, “AI for SMEs: Scaling Through Digital Tools.” Entrepreneurs, policymakers, business leaders and technology experts attended the event.
Participants discussed how artificial intelligence can transform small businesses. They also explored practical ways entrepreneurs can use digital tools to improve business performance.
Speaking at the conference, the Senior Special Assistant to the President on Entrepreneurship Development, Chalya Shagaya, described AI as a powerful tool for business growth. She warned that companies that ignore digital technology could struggle to remain competitive.
According to Shagaya, entrepreneurship remains central to the Federal Government’s plan to build a $1 trillion economy. She explained that MSMEs will continue to drive innovation, create jobs and support inclusive economic growth.
She said artificial intelligence can automate routine business activities. These include invoice generation, inventory management, customer engagement and sales analysis. As a result, business owners can focus on making better strategic decisions.
Shagaya also encouraged entrepreneurs to embrace digital marketing and social media. She said these tools can help businesses reach more customers. They also create opportunities to compete beyond Nigeria.
“The world is changing rapidly, and technology is changing with it,” she said. She urged entrepreneurs to keep learning because AI is already reshaping the business environment.
She also revealed that President Bola Tinubu has approved a National Artificial Intelligence Policy. In addition, the Ministry of Communications will establish an AI Hub. The centre will provide entrepreneurs with digital support and capacity-building programmes.
However, Shagaya advised business owners not to rely completely on AI-generated content. Instead, she urged them to combine technology with human judgment before making important business decisions.
She further assured entrepreneurs that the Federal Government remains committed to creating a business-friendly environment. She also encouraged them to share feedback on policies affecting their operations.
Speaking after the conference, Shagaya praised Access Bank for supporting digital innovation. She said the Access Bank AI SME app aligns with the government’s efforts to strengthen Nigeria’s MSME sector through technology.
Earlier, the Head of SME Banking at Access Bank, Abiodun Olubitan, described MSMEs as the backbone of Nigeria’s economy. She said the sector contributes nearly half of Nigeria’s Gross Domestic Product. It also accounts for about 84 per cent of total employment.
Olubitan explained that Access Bank offers more than financial support. The bank also provides training, innovation and practical digital solutions. She said the Access Bank SME platform will help entrepreneurs build stronger and more sustainable businesses.
“Our commitment is not only to provide access to finance but also to equip entrepreneurs with the knowledge, tools and digital capabilities they need to grow sustainable businesses,” she said.
The Executive Director of the University of Lagos Business School, Professor Sunday Adebisi, also addressed participants. He encouraged entrepreneurs to see AI as a business partner instead of a replacement for human creativity.
Adebisi said Nigeria has more than 39 million SMEs. He noted that they represent about 96 per cent of all businesses. They also contribute roughly 48 per cent of the country’s GDP. In addition, they provide around 84 per cent of total employment.
Despite their contribution, many new businesses fail within their first year. Adebisi believes wider adoption of AI can improve business survival. He also said digital tools can support long-term growth.
The AI-powered SME app introduced by Access Bank reflects the growing importance of digital transformation. Experts believe the Access Bank AI SME app will help entrepreneurs improve efficiency, increase productivity and compete more effectively. As more businesses adopt the platform, Nigeria’s MSME sector could become stronger and more innovative.
Leave a comment