The Founder and Chief Executive Officer of GDM Group, Dr. Victor Afolabi, has urged Nigerian business leaders to embrace artificial intelligence (AI) as a critical tool for boosting productivity and staying competitive in a rapidly evolving global marketplace.

Afolabi made the call while speaking at the recently held CEO’s Summit in Lagos, themed “Future-Ready Leadership.” He highlighted the transformative power of AI in streamlining business operations and eliminating inefficiencies that drive up operational costs.

“Many of us are carrying dead weights today,” Afolabi stated. “We need to make our organisations a lot more efficient. If businesses continue to ignore AI’s potential to streamline operations, they risk falling behind competitors who have embraced these technologies.”

He stressed that inefficiencies within organisations are often passed on to consumers through higher service costs, adding that leveraging AI could help reverse this trend. According to him, by automating processes, improving decision-making, and optimising resource allocation, AI allows businesses to operate more efficiently and deliver higher-quality results with fewer resources.

“The cost to serve for someone who is leveraging technology will definitely be lower,” he noted. “AI adoption is no longer optional—it’s a necessity for businesses looking to remain competitive in an increasingly digital world.”

Also speaking at the summit, Mr. Rume Daniels, Executive Director of the Centre for Values in Leadership and Team Lead at ImpactGlobal, underscored the importance of leadership development in driving organisational and national growth.

“Everything rises and falls on leadership,” Daniels said. “The better the leader, the better the organisation, the better the nation.”

He added that CEOs are not only responsible for driving profits but also play a crucial role in shaping the broader society.

“As CEOs, we don’t just influence our organisations; we shape the societies around us,” he concluded.

The CEO’s Summit served as a platform for industry leaders to share insights on navigating the future of business, with a strong emphasis on innovation, technology adoption, and value-driven leadership.