• Sunday, May 19, 2024
businessday logo

BusinessDay

How AI reshapes industries, product development

20240414_133724_0000

In the realm of digital transformation and technological innovation, artificial intelligence (AI) has emerged as a powerful force, reshaping industries and revolutionising traditional practices.

“From predictive analytics for demand forecasting to personalized recommendations for users, AI algorithms are powering a new era of efficiency and agility,” Oluwaseyi Obadimeji, Head of Digital Product & Business Analysis for United Capital Plc, said during a recent media parley in Lagos.

According to him, the integration of AI into product development processes has already yielded remarkable results across various sectors.

He said that top technology companies like Uber have been leveraging AI to enhance user experiences, optimize operations, and drive innovation.

Read also: Artificial Intelligence – Will it be a blessing or a curse?

Speaking to the future of AI and product development, Obadimeji said that with the advancements in machine learning, natural language processing, and computer vision, AI algorithms are poised to become even more sophisticated and adaptive.

According to him, evolution will not only streamline existing processes but also unlock novel avenues for innovation. “Product development, in particular, stands at the forefront of this transformation, as AI capabilities continue to evolve, promising unprecedented efficiencies and opportunities.”

Obadimeji, who is also a certified Business Analysis Professional (CBAP) and Product Manager, disclosed that as we delve into the intricate landscape of AI-driven product development, it becomes imperative to understand its current impact and anticipate the future trajectory.

“From autonomous vehicles to smart homes, AI-powered products will permeate every facet of our lives, redefining the way we interact with technology. Moreover, the democratization of AI tools and platforms will empower businesses of all sizes to harness its transformative potential,” he said.

Speaking on upskilling for the AI revolution, he said that product managers, business analysts, and DevOps professionals must equip themselves with the necessary skills to thrive in an AI-driven ecosystem.

“Specialized training programs, such as AI for product management courses offered by Coursera and Pendo.io in collaboration with Google Cloud and AI For Business Specialization by Coursera inUniversity of Pennsylvania, provide comprehensive insights into AI methodologies, algorithms, and applications in finance, marketing, people management and governance,” he said.