Business News

Firms urged to embrace AI to boost competitiveness

Industry leaders have urged businesses in Malawi, Zambia and Zimbabwe to embrace artificial intelligence (AI), data analytics and customer insight to improve competitiveness and unlock new markets.

Presentations during a joint winter school for marketing professionals from the three countries in Lilongwe on Thursday focused on AI and automation in marketing strategy, data-driven marketing and performance analytics, customer experience management, digital customer journeys and consumer insights.

Molande: AI is here to stay and we need to move with it. | Nation

Ministry of Industrialisation, Business, Trade and Tourism Principal Secretary Bright Molande said businesses and institutions that fail to adapt to technological change risk being left behind.

“If you can’t change with the times, time will time you out of the changing times,” he said.

Molande said AI was becoming an integral part of modern business and should be embraced in areas such as branding and marketing where firms increasingly rely on technology to understand customers, improve decision-making and strengthen competitiveness.

“AI is here to stay and we need to move with it,” he said.

Molande said government was working with the private sector and institutions responsible for digital transformation to support AI adoption, adding that Cabinet ministers and principal secretaries have already undergone AI-related training.

Institute of Marketing in Malawi president George Damson, speaking at the same event, said the conference was designed to help marketers sharpen their skills and strengthen collaboration at a time businesses are increasingly operating in interconnected regional markets.

He said the initiative was conceived by the leadership of the marketing associations of Malawi, Zambia and Zimbabwe as a platform for knowledge sharing and professional development.

“We are living in an age where competition is outdated and you need to collaborate more than compete,” said Damson.

He said stronger regional collaboration can help businesses identify opportunities beyond their domestic markets and contribute to export growth.

“As you are aware, Malawi currently is struggling with issues of forex, so platforms like these give marketers an opportunity to open new markets for Malawian products and Malawian ideas across the region,” he said.

The conference highlighted the growing role of technology in business performance, with sessions on predictive marketing insights, customer experience excellence, performance measurement and sustainable marketing practices.

The discussions come as businesses increasingly deploy AI-powered tools to analyse consumer behaviour, personalise customer engagement, automate routine processes and improve marketing efficiency.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button