Operators of Small and Medium Enterprises in Nigeria have been advised to leverage the importance and benefits of Generative Artificial Intelligence to transform their businesses.

The call was made by Olivia Wami, product Manager of Bincom Global ICT Solution at a recently held Webinar organized by the company’s Development Centre.

Generative AI is a type of artificial intelligence technology that can produce various types of content, such as text, imagery, audio and synthetic data.

According to the tech expert, this technology is highly beneficial to Small and Medium Enterprises especially when there is limited resources for content creation and marketing, advising business owners to pay utmost attention to the shifting landscape in digital technology.

“Often, SMEs find themselves limited by resources for content creation and marketing. However, they can leverage Generative AI to maintain a consistent online presence. For instance, it can generate social media posts or create product descriptions. This approach streamlines processes, saving time and reducing repetitive tasks.

“SMEs may not have access to vast databases, so Generative AI can assist in improving the accuracy and performance of their machine learning models. For instance, a small e-commerce company can use GenAI to generate additional customer transaction data, enhancing its recommendation system.

“When you go on many e-commerce sites, you often see features like recommendations suggesting similar items or items you can buy together with what you’re currently viewing on the website or application. Generative AI can help enhance that recommendation system.” He said.

Similarly, the product manager highlighted creative design, email marketing personalization and financial analysis and reporting as part of what SMEs owners can use Gen AI to achieve.