Home Business Sterling Bank CEO Urges Embrace of AI for National Competitiveness

Sterling Bank CEO Urges Embrace of AI for National Competitiveness


Sterling Bank Limited’s Managing Director and CEO, Mr. Abubakar Suleiman, emphasized the imperative of prioritizing Artificial Intelligence (AI) development for both governmental and corporate entities to retain competitiveness in the evolving global economy. Speaking at the Innovate AI Conference in Lagos, Suleiman warned against overlooking AI’s significance, stressing its potential to enhance business efficiency and national competitiveness. He cautioned that failure to embrace AI could result in lagging behind, as AI-driven technologies offer avenues for heightened productivity.

Suleiman urged nations to craft sovereign AI strategies and foster AI-friendly ecosystems to attract investment. He emphasized the need to prevent the concentration of AI-driven wealth and power, advocating for equitable distribution and stability. Suleiman also addressed concerns regarding AI’s impact on employment, urging a shift in perspective to view AI as a driver of innovation and new opportunities.

He questioned the future dynamics between humans and machines in light of AI’s pervasive influence on society, challenging society to envision a future where AI alters traditional notions of intelligence and fundamentally transforms human capabilities. Suleiman highlighted the need for intentional efforts to rebalance wealth concentration brought about by AI advancements to ensure a stable future for all.

About The Author

Related Articles


Customs Seizes Tons Of Rice, 373,440 Litres of Smuggled Petrol Headed For Benin Republic

The Seme Border Command of the Nigeria Customs Service has intercepted 373,440...


Decreased Dollar Demands: Naira Appreciates To N1,339.33/$1 On Official Market

The Nigerian Naira experienced a significant appreciation against the US Dollar in...


Benue Assembly Cancels Lifetime Pensions for Ex-Governors and Deputies

The Benue State House of Assembly has repealed a controversial law that...

Economists, IMF Raises Concern Over Senate Move to Amend CBN Act

Economists, IMF Raise Concern Over Senate Move to Amend CBN Act

Economic experts have raised concerns over a bill before the Senate seeking...