By Esther Onyegbula

The Chief Executive Officer of Statisense, Mr. Femi Bejide, has said that data intelligence and governance can drive long-term economic growth in Nigeria, positively impacting the country’s Gross Domestic Product (GDP).

Bejide made this assertion on the sidelines of the pre-launch of the company’s new product, Immortal AI, at a private showcase in Lagos. He noted that through the product’s technology, businesses can plan, execute, and make better decisions, enabling them to scale and succeed in the long term.

He explained that when businesses embed data into their operations and use it efficiently, they are built to last. He added that technology can help businesses accelerate growth.

As such, Statisense is leveraging Immortal AI to help businesses organise multiple layers of information into a single platform, providing a streamlined system for accessing data across various channels. With its artificial intelligence capabilities, users can analyse data sets, draw informed insights from the data, and make quick, effective decisions that support growth. It also offers a broad range of information across local and international markets, connecting users with global investment opportunities.

Bejide said: “Every economy is driven by the quality of the businesses within it. So, if more businesses thrive because of data intelligence, we expect the country’s economy to do well. Nigeria’s GDP will improve significantly because domestic productivity will grow, and the economy will expand.

“Economic democracy is what Nigeria needs. But economic democracy will not happen without strong businesses, and strong businesses will not exist without utilising accurate data.

“Through Immortal AI, businesses can now connect seamlessly to data repositories. No platform has previously been able to build rails into existing data sources, Statisense, through Immortal AI, is the first to achieve this. Businesses can now extract insights from their customer data in ways that were previously impossible.

“Capital market players can gain deep insights into the market, among other benefits. And on the predictive front, we are opening up a new channel that will provide economic forecasts to the average Nigerian, beyond just sports predictions.

“Most businesses that have engaged with us say the solution allows them to do five times more than usual, saving the average business about 8 percent of its resources. We are excited to roll this product out in phases to accommodate the diverse user experiences we anticipate.”

Addressing questions around data privacy, security, and AI hallucinations, Bejide stated that Immortal AI operates a high-level security architecture and leverages an advanced AI model that filters out unreliable outputs. It delivers analysis based on user-provided data, which can guide decision-making.

“There are different layers of artificial intelligence. Some platforms operate at the foundational level, simply building the infrastructure for others to use. Platforms like ours operate above that foundation. Our system filters the data to ensure that AI does not take over the decision-making process.

“We’ve built a kind of middleware that eliminates common AI errors. Tools like our Business Insight (BI) feature create a layer that extracts the best aspects of AI while filtering out the flaws.

“Everyone is also being trained to make informed decisions. We say that AI should not replace your decision, it should assist it. And that’s exactly what Immortal AI is built to do,” he said.