The Nigeria Bar Association, Ikeja Branch, recently organized a business forum to highlight the economic opportunities presented by Artificial Intelligence (AI) for economic growth.
The event was held at Marriott Hotel, GRA Ikeja, Lagos, with the theme: “The Future of AI and Corporate Governance for Companies.”
Speaking at the event, the keynote speaker Dr. Desmond Oriakhogbe noted that the global AI market is expected to soar to $15.7 trillion by 2030.
“Nigeria’s AI market is projected to reach approximately $4.64 billion by 2030,” Oriakhogbe said. He further emphasized the increasing awareness of AI’s capabilities and the formation of strategic partnerships.
He added that the Nigerian government and private sector are working together to harness the transformative power of AI, which is expected to drive economic growth and development across various sectors.
Dr. Hakeem Ogunniran, chairman of Lagos Building Investment Company, highlighted critical aspects of corporate governance and the transformative impact of AI on business practices. He explained that corporate governance fundamentally revolves around three questions: who owns the company, for whom is the company run, and what processes and systems are in place.
In his welcome address, the chairman of the Nigeria Bar Association, Ikeja Branch, Mr. Seyi Olawumi, stated, “Today we come together to share insights, foster connections, and explore the dynamic landscape of modern business.”
Olawumi said the forum represents an incredible opportunity for participants to learn from one another, collaborate, and envision the future of legal work and the value added by in-house counsel to their boards and management.
In her remarks, the chairperson of the Nigeria Bar Association, Ikeja Branch, Mrs. Ajoke Akinsola, stated that the mandate of the business forum committee is to bridge the gap between in-house counsel colleagues and the larger bar of the NBA. She said the theme of this maiden event focuses on how legal counsel can advise their management on technological advancements in AI and how today’s organizations can be guided using the governance framework amid rapid change and unprecedented challenges.
Akinsola also used the opportunity to thank the sponsors who partnered with them to make the event a reality:
- Platinum Sponsors: Pinheiro LP and Tope Adebayo LP
- Gold Sponsor: Miccom Cables and Wires
- Silver Sponsor: NBA Ikeja Branch
See pictures below:
News credit : DistinctNewsLive
