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How the Agentic Era is Changing Nigerian Businesses

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How to Adapt Your Business to the Agentic Era in Nigeria

Today the world enters what experts suggest is a new stage called the Agentic Era – where AI, automation, and hyperconnectivity come into the forefront. In Nigeria, where the digital economy is projected to contribute 15% to GDP by 2025 (source: PwC Nigeria), all businesses must embrace these change enablers if they are to avoid being left behind. The second, perhaps even more critical implication of the Agentic Era involves a complete reconsideration of conventional business strategies and the need for more unconventional paradigms such as AI, cloud computing, or data-driven approaches.

This article seeks to elaborate on how businesses in Nigeria prepare to foster the changes brought about by the Agentic Era adopting automation, and digital marketing as well as integrating sustainable strategies. Beginning with a theoretical analysis followed by realistic solutions, this work will show how organisations can manoeuvre themselves to become giants in Nigeria’s fast-growing digital frontier.

 

What is the Agentic Era?

The Agentic Era is a shift where AI and machine learning are the real drivers in decisions, customer relations, and processes. The term ‘agentic’ is derived from “agents” which are computational entities capable of undertaking activities with little intercession from a human source. AI algorithms, automation platforms, and data analysis tools give companies the tools to work smarter, swifter and more efficiently.

 

Why Does It Matter for Nigerian Businesses?

1. Rising Digital Adoption: Nigeria widely has more than 109 million internet users (Statista, 2023) one of the most growing internet economies in Africa.

2. E-commerce Boom: The Nigerian e-commerce market can grow to $75 billion by 2025 (McKinsey) due to platforms that include Jumia, Temu and Konga.

3. Workforce Transformation: The increase in the number of employees working remotely as well as gig economy patterns disrupt stabilised employment structures.

 

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Key Strategies for Adapting to the Agentic Era in Nigeria

1. Embrace Digital Transformation

The traditional ways of doing business in the market cannot be sustained in the future economy, but these digital strategies are essential in the Agentic Era. Companies should consider incorporating and expanding the use of artificial intelligence, and automation solutions comparable to Amazon Web Services and cloud services.

Actionable Tip: With AI firms can start small with applications such as chatbots in customer service or sales prediction using analytic tools. Currently, there are open platforms that can be implemented in businesses of varying sizes, for instance, Zendesk, Salesforce etc.

 

2. Leverage AI for Data-Driven Decision Making

AI helps the business to work out complex data, look for patterns and make conclusions. For instance, some of the Nigerian main banks such as GTBank are still implementing the application of AI in activities like fraud analysis and customer services.

Actionable Tip: Use machine learning-based applications like Google Analytics 4 or Tableau that would capture key indicators including customer and website activity and sales.

 

3. Prioritize Cybersecurity

Where there is some form of digitalization, businesses are at risk of cyber threats. Nigeria loses about $500m to cybercrime in 2022 reveals the National Information Technology Development Agency (NITDA). Data protection and customer trust are a cornerstone of the company.

Actionable Tip: Emphasise and implement rules of authentication, data security, and sales employee compliance with the standards of ethical use of computers and the internet.

 

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4. Optimize Remote Work and Agile Methodologies

The COVID-19 pandemic brought about an increase in work-from-home practices all over the world and in Nigeria. Tele- or mobile communities demand software technology and organizational interventions to create optimum opportunities for interaction and working performance.

Actionable Tip: Former communication tools may not work appropriately in a remote environment, so you can try using Slack or Zoom, Microsoft Teams, etc. Adopt organization-wide agile methodologies to enhance worldwide adaptability and responsiveness.

 

5. Focus on Sustainability

Consequently, sustainable development has become an increasingly important topic of the Agentic Era. Today’s customers and investors are more likely to support those companies that follow the policies of environmentally friendly strategies.

Actionable Tip: Practice environmentally friendly factors in your business, for instance, cut on your use of plastics, or use green energy. Speak to these efforts within your digital marketing strategies because today’s consumers are socially aware.

 

6. Enhance Customer Experience through Personalization

Personalization enabled by Artificial Intelligence is breaking new ground in customer experiences. For instance, e-commerce websites use previous orders for recommendations of products to offer and digital marketing can target specific personalities.

Actionable Tip: You need to transform product offerings and promotional emails using tools such as HubSpot or MailChimp.

 

7. Prepare for the Future of Work

The advanced technological processes in industries change the nature and demands of work. Employers have to continue educating employees along with the process of the constant reinforcement of the workers’ skills to remain relevant.

Actionable Tip: Promote courses offered by Coursera or Udemy to give employees access to courses on AI, data analytics and many other courses.

 

Overcoming Challenges in the Agentic Era

While the Agentic Era offers immense opportunities, it also presents challenges, including:

- High Initial Costs: Implementation of new-age technologies namely artificial intelligence and cloud computing capital intensive.

- Skill Gaps: The competencies of several employees in Nigeria remain low in terms of the technical skills required for success in today’s digitally led world.

- Ethical Concerns: Some of the problems which need to be addressed include; AI bias, violation of privacy, and fake news.

To mitigate these risks, there is a need for organizations to use a stepwise approach to digital processes, ensure that their employees are well-trained in issues to do with digital, and ensure that they follow the principles of digital ethics.

 

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Case Study: Adapting to the Agentic Era in Nigeria

A Lagos-based retail company successfully adapted to the Agentic Era by implementing the following strategies:

1. Digital Transformation: They incorporated an ‘intelligent’ working inventory control system, cutting stock-out levels by 30 per cent.

2. Customer Personalization: By applying data analytics, they set up individualised marketing promotions and improved revenue by a quarter.

3. Remote Work Tools: With the implementation of Slack as well as Asana for the software, they enhanced teamwork as well as completed most projects within 40% of the time expected.

This transformation placed the company on the right track in competing against the other firms in the retail industry in Nigeria, which is an excellent example of the positive impact of the Agentic Era that needs to be embraced.

 

Conclusion

So, understanding that the Agentic Era is as much a technological revolution as it is the clarion call for companies in Nigeria to embrace the new order and take their place in the global economy. By implementing trends such as AI integration, automation and data-driven decision-making, it becomes possible for businesses to open new possibilities for the firm and thereby fuel sustainable growth.

While Nigeria’s digital economy grows bigger, more organizations that adopt the principles of flexibility, creativeness, and sustainability will be the frontrunners. It is time to pay attention – prepare your business for the unprecedented changes and have the right tools for the Agentic Era.

If you need help in digital transformation, AI, and other solutions that will help your business prepare for the future, you need to talk to Paredaim Plus, Nigeria’s go-to digital marketing and innovation firm.

To that end, allow Paredaim Plus to simplify your tasks towards the Agentic Era and transform difficulties into possibilities. Endeavour to visit us for more details on how our services are customized appropriately to the business environment in Nigeria.