Prominent technology specialist Michael Peter emphasized in a recent interview with Abuja City Journal how important it is that businesses using artificial intelligence (AI) give moral issues and responsible AI use first priority.

Mr. Peter, whose journey into the tech industry began over five years ago, highlighted the pivotal role technology plays in modern businesses. With a background in Computer Engineering and a Masters in Business Administration, he emphasized the transformative power of technology, particularly in the wake of the Covid-19 pandemic.

Speaking on technology adoption and AI integration, Mr. Peter underscored their indispensable nature in contemporary businesses. He noted that businesses across sectors are leveraging technology and AI to enhance operations, drive automation, and improve customer experiences.

However, Mr. Peter also pointed out the challenges businesses face when adopting new technologies like AI. These challenges include aligning AI solutions with business ethics, investing in technical expertise and infrastructure, and integrating AI into existing systems.

Reflecting on the impact of AI on businesses, Mr. Peter highlighted both positive and negative outcomes. On the positive side, AI enables data-driven decision-making, automation, and enhanced customer interactions. Yet, challenges such as high implementation costs and ethical dilemmas pose significant hurdles for businesses.

When asked about the skills and talents needed to thrive in the tech-driven era, Mr. Peter emphasized the importance of technical skills, soft skills, and a culture of continuous learning. He stressed the need for businesses to invest in both technical expertise and soft skills like critical thinking and adaptability.

Looking towards the future, Mr. Peter expressed optimism about the potential of AI to revolutionize industries and address complex challenges. However, he cautioned that ethical considerations and responsible usage of AI would be essential to ensure its positive impact.

In offering advice to businesses looking to embrace technology and AI, Mr. Peter emphasized the importance of defining objectives, investing in continuous learning, and prioritizing ethical considerations.

Here is the full interview with Michael Peter, Technology Expert

Good morning, Mr. Peter. Could you please introduce yourself and share your journey into the tech industry?

Michael Peter: Good morning. My name is Michael Peter, although many people know me by my nickname, Micpet. I have a background in Computer Engineering from Obafemi Awolowo University, where I obtained my BSc (Hons), followed by a Masters in Business Administration from the same institution. My journey into the tech industry began in 2015 when I started my career as a Business Development Executive. However, my involvement with technology truly took off when I worked on building a Human Resource Management Software for a company I was with. Despite briefly venturing into Research and Data Analysis, I found myself drawn back to the tech space, particularly after witnessing the pivotal role technology played during the Covid-19 pandemic. Since then, I’ve been working as a Product Manager in the Financial Technology space, focusing on delivering innovative payment solutions for Africans. Overall, I’ve been immersed in the tech industry for over 5 years now, and I firmly believe that technology is the future.

Question: How would you describe the current state of technology adoption and AI integration in businesses?

Michael Peter: Technology adoption and AI integration have become indispensable aspects of modern businesses. Today, almost every business utilizes technology in some form, leveraging mobile solutions, e-commerce platforms, and cloud infrastructure to enhance operations and customer engagement. Moreover, AI technologies such as machine learning and robotic process automation are increasingly being incorporated into business processes, driving automation and efficiency. From chatbots in customer service to data analytics for decision-making, AI is reshaping how businesses operate and innovate.

Question: What are the primary challenges businesses face when adopting new technologies like AI?

Michael Peter: Adopting new technologies like AI presents several challenges for businesses. Firstly, there’s the issue of aligning AI solutions with business ethics, as many off-the-shelf AI technologies may not be customized to suit a company’s values and objectives. Additionally, implementing AI often requires technical expertise and significant investment, especially in data quality and security. Businesses also grapple with the complexities of integrating AI into existing systems and processes, as well as concerns about employee displacement and data privacy.

Question: How have you seen AI directly impacting businesses, both positively and negatively?

Michael Peter: AI has had a profound impact on businesses, offering opportunities for automation, data-driven decision-making, and enhanced customer experiences. Positively, AI technologies like machine learning have enabled businesses to analyze vast amounts of data, leading to insights that drive strategic decisions and improve operational efficiency. Chatbots and virtual assistants have transformed customer interactions, while automation has streamlined processes and reduced human error. However, AI adoption also poses challenges such as high implementation costs, ethical dilemmas, and potential biases in decision-making.

Question: What skills and talents do businesses need to thrive in this tech-driven era?

Michael Peter: To thrive in today’s tech-driven era, businesses require a combination of technical skills, soft skills, and a culture of continuous learning. Technical skills such as programming, cloud computing, and cybersecurity are essential for leveraging technology effectively. Soft skills like critical thinking, communication, and adaptability are crucial for navigating complex business environments and driving innovation. Moreover, businesses must foster a culture of curiosity and learning to stay abreast of technological advancements and industry trends.

Question: What do you envision for the future of technology and AI businesses?

Michael Peter: The future of technology and AI businesses is incredibly promising, with innovations poised to revolutionize industries across the board. AI technologies like machine learning, deep learning, and natural language processing will continue to drive automation, personalization, and efficiency in business operations. From energy to healthcare, banking, and logistics, AI will play a central role in driving innovation and addressing complex challenges. However, ethical considerations and responsible usage of AI will be paramount to ensure its positive impact on businesses and society.

Question: What advice would you give to businesses looking to embrace technology and AI?

Michael Peter: Businesses looking to embrace technology and AI should start by clearly defining their objectives and understanding how these technologies can support their goals. Investing in continuous learning and research is essential to stay updated with emerging technologies and trends. Moreover, businesses should prioritize ethical considerations and responsible usage of AI to mitigate potential risks and ensure alignment with their values. Finally, hands-on experience and experimentation with technology are crucial for driving innovation and fostering a culture of technology-driven business operations.

Question: How important is collaboration between businesses, government entities, and educational institutions in driving technological innovation?

Michael Peter: Collaboration between businesses, government entities, and educational institutions is vital for driving technological innovation and fostering a conducive ecosystem for growth. By leveraging their respective expertise and resources, these stakeholders can accelerate the development and adoption of innovative technologies. Government policies and regulations play a crucial role in shaping the business environment and incentivizing technological innovation. Educational institutions provide the talent pipeline and research expertise needed to drive technological advancements. Together, collaboration among these stakeholders can drive sustainable technological innovation and economic growth.