A software engineer and digital transformation consultant, Faheem Abubakar, has opined that the integration of artificial intelligence into the country’s retail industry will boost the economy.
Abubakar who is currently pursuing his master’s degree in Managing Innovation and Information Technology at the University of Salford UK, said this during a digital panel discussion which was held in London on Friday.
The discussion titled, “Agrohq Smart AI feature” aimed at helping farmers with disease detection, plant care guide, and smart reminders using AI technology.
Abubakar explained that AI’s capabilities in automating routine tasks, analysing vast amounts of data, and providing predictive insights are essential for modernizing the retail sector.
“AI can help Nigerian retailers understand customer behavior patterns, manage inventory more efficiently, and personalise the shopping experience for each customer.”
According to him, Nigeria’s retail industry faces unique challenges, such as logistics and supply chain inefficiencies, which AI can help solve.
“AI-driven analytics can optimize delivery routes, predict demand, and ensure that stock levels are maintained, which will significantly reduce operational costs and improve delivery times.
“With chatbots, Nigerian retailers can provide 24/7 customer support, which is crucial for customer engagement and retention in an increasingly competitive market,” he said.
When asked about the impact on small and medium-sized enterprises, Faheem highlighted that AI could level the playing field, adding, “AI allows SMEs to access market analysis, inventory management, and customer engagement tools that were once only available to large corporations. This shift gives smaller businesses the chance to compete and grow.”
However, Faheem acknowledged that there are challenges to adopting AI in Nigeria, including a lack of infrastructure, skilled personnel, and initial investment costs. “Many businesses may not have the technical expertise or financial resources to implement AI solutions, but as technology becomes more accessible, these barriers are slowly decreasing,” the software developer noted.
For Nigerian businesses considering AI adoption, Abubakar advised starting small.
“Retailers can begin with affordable AI applications, like chatbots for customer support, and invest in employee training. Collaborating with AI specialists can also help businesses implement the technology effectively.
“With the right strategies, AI can drive sustainable growth and bring Nigeria’s retail sector to new heights,” he maintained.
