The potential of Artificial Intelligence (AI) has not fully been realized in Nigeria. As a result of inadequate knowledge about AI, lack of infrastructure, power supply and access to data. According to the Oxford Insight Government AI Readiness, Nigeria ranks 138 globally and 20 in Africa, behind South Africa, Kenya and Ghana. Artificial Intelligence has the potential to improve efficiency and reduce errors.
Likewise, it can provide solutions to the various challenges plaguing all the sectors of our economy like education, health, finance, and agriculture. This is why tech enthusiasts are leveraging AI despite being disadvantaged. In terms of limited access to AI training and infrastructure. They are actively paving the way for AI activities by building several platforms aimed at solving different problems. Some of the platforms include.
RelianceHMO: This AI solution is a Cloud-based health insurance platform for individuals and businesses. It was founded in 2016 by Femi Kuti and Mathew Mayaki. If you ever need to get health insurance, then relianceHMO should be your choice. Because It will offer you several solutions such as telemedicine, doctor consultation, health benefits etc.
Indicina Technologies: Indicina was founded by Yvonne Johnson, Jacob Ayokunle and Carlos del Carpio. It provides banks, fintech and other credit facilities software to manage their loan life cycle. What this means is that indicina provides a credit analysis platform that uses machine learning to access the creditworthiness of a client. If it perceives a loan request as bad, the application is rejected. Thus, it helps in loan origination & monitoring, credit underwriting, portfolio management, customer acquisition, fraud management, and more.
Edves: This is an AI-based Integrated management platform for schools. It was founded by Dimeji Falana, Dare Adebayo and Joseph Adedokun in 2016. It is actively reinventing education to make learning simple. And to help schools manage all their activities. On its platform, registered schools can monitor their students’ learning system, admission, fee payments and students’ performance.
Octamile: Gbenro Dara founded octamile, an AI-based insurance claim management solution. It helps insurance businesses with tools to facilitate the process of insurance. On the other hand, it helps non-insurance businesses incorporate insurance into their platform. It also offers solutions for risk assessment, remote inspections, rule-based decision-making, payments, and more.
Flex Finance: This is an AI-based expense management solution founded by Yemi Olulana. Flex finance helps businesses control and manage expenses. As well as budget management, spending analysis, payment management, account reconciling, billing management, and more.
Dochase: Dochase is a Nigerian ad network founded by Chibuike Goodnews. It uses AI algorithms to enable businesses to choose only the most profitable ads for their website. Thus leveraging data, insight, channels, and AI tools to enable brands to expand their services.
There are several other AI-based startups building solutions for other sectors. But this does not mean that AI’s potential is fully utilized in Nigeria. Our tech ecosystem is yet to fully grasp the full potential of AI. Nevertheless, its adoption is growing rapidly. More platforms teaching artificial Intelligence should be built to teach and train youths. Thus, fast-tracking the rate of AI adoption in Nigeria.Featured Image Source: Ivey Business Journal
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