Dr Anthony Cobbinah, a lecturer at the Takoradi Technical University (TTU), has urged business owners to adopt Artificial Intelligence (AI) to improve efficiency and boost productivity.
According to Dr Cobbinah, technology was a valuable tool that could help Small and Medium Enterprises (SMEs) grow and develop new skills.
He gave the advice at a breakfast session organised by the Western Regional office of the Ghana National Chamber of Commerce and Industry in Takoradi in the Western Region.
He explained that AI was transforming how businesses operated by enabling faster decision-making and enhancing customer service.
“AI-powered robots, for instance, can streamline operations by sorting packages and managing inventory, ensuring timely and accurate deliveries to customers,” he said.
Small and medium enterprises are also benefiting from AI by using AI-driven recommendation systems on their websites, which increase sales and customer satisfaction.
In corporate settings, AI tools automate routine tasks such as drafting reports, taking meeting notes, and responding to customer inquiries. This automation allows employees to focus on strategic activities that drive business growth.
As AI technology evolves, its role in business operations is expected to expand, providing companies with a competitive edge.
However, Dr. Cobbinah noted that there were challenges in adopting AI, including the high cost of implementation, which could be prohibitive for SMEs. Procuring and maintaining AI tools required significant investment.
He noted that there were also ethical concerns, such as job displacement, as AI automates tasks traditionally performed by humans, saying, “These challenges must be managed carefully to fully realize AI’s potential in improving business operations.”
Meanwhile, Dr Holy Kportorgbi, Senior Lecturer at GIMPA, emphasised that SMEs must formalize their businesses to capitalize on opportunities presented by the 24-hour economy.
He encouraged business owners to build strong relationships with their banks and ensure their businesses are financially viable.
Dr Kportorgbi also urged SMEs to rethink their business processes, particularly in light of the priority areas identified under the 24-hour economy initiative.
