General News - Corporate Ghana’s assessment of Artificial Intelligence low

An assessment of Artificial Intelligence (AI) strategy and its impact on corporate Ghana found out that of the 54 companies surveyed in May 2023, only 2 answered “yes” to the question, “Has Artificial Intelligence ever been mentioned or discussed at management/board meetings?” – representing a disappointing 4%.

These include banks, financial institutions, service providers, and about three media outlets – though IT firms were excluded.

Mr. Philip Gamey, Chief Executive Officer of Web & Software Limited – addressing the company’s first annual press conference on A1 at the Institute of Executive Studies in Accra last week, said this stark reality indicates that most companies are not ready to adopt AI.

“When companies under-invest in people and processes, they quickly lose momentum with AI,” he observed. Therefore, investing in platforms, people and processes is crucial to prevent this, he noted.

This state of affairs requires an autopsy, Gamey said.

Mr. Gamey however added that to achieve significant financial benefits from Generative AI, companies must look beyond automation and focus on learning and organisational transformation.

“The mix of use cases should include automation, decision-making, option generation, insight generation, and evaluation.”

He added that a symbiotic relationship between human resources and AI is necessary, adapting as needed to changing contexts, circumstances and scenarios.

“To harness the full benefits of AI, companies must identify use cases that differentiate their organisation, adapt organisational structures, and prepare employees to support deployment. Moreover, designing policies to set up ethical guardrails and legal protection is essential.”

The Web and Software CEO indicated that possible areas of concern for companies may include mass deception, job loss, ethics, copyright, and bias.

However, he stated that Web & Software Limited, as Ghana’s first generative AI company, invites companies to take advantage of its free session for businesses and senior management to consider how organisations can leverage AI for growth, superior performance and productivity.

AI is the simulation of human intelligence processes by machines, especially computer systems.

To reverse this dismal trend among corporate Ghana, Mr. Gamey recommends a conversation on AI be immediately commenced by companies; and that they should think ‘big’ toward a phased adoption of Artificial intelligence.

Companies should adopt what Web & Software calls ‘A360’, which refers to a holistic look at AI since it has the potential to exponentially increase productivity; but he advised them not to limit it to robotics or automation alone as AI can also be used in decision-making.

He noted that AI also helps to maximise evaluation, and the earlier corporate Ghana adopts artificial intelligence models the sooner productivity will witness a leap.