The Vice Chancellor of the University of Ibadan, Prof Kayode Adebowale, has urged businesses, policymakers and stakeholders to adopt artificial intelligence responsibly, warning that its deployment must be guided by ethical principles, appropriate regulations and human oversight.

Adebowale stated this at the second annual symposium of the Department of Marketing and Consumer Studies of the university, themed "Harnessing AI for Business Survival and Expansion in the Knowledge Economy."

He described AI as a transformative technology capable of enhancing productivity, driving innovation and accelerating national development, whilst stressing that technology should complement rather than replace human intelligence. The vice chancellor also called on Nigeria to develop a comprehensive national policy on artificial intelligence and data sovereignty to maximise the benefits of the technology while safeguarding public interest.

The Head of the Department of Marketing and Consumer Studies, Dr Samuel Orekoya, said in his welcome address that AI had moved beyond theoretical discourse into practical reality, already reshaping business operations through improved efficiency, innovation and competitiveness. He declared, "The business landscape is no longer merely competitive; it has become transformative. The knowledge economy is here, and at its heart is artificial intelligence. Our objective is not simply to discuss AI but to understand how it can be harnessed to help businesses survive, expand and thrive in an increasingly competitive environment."

Dean of the Faculty of Economics and Management Sciences, Prof Abiodun Folawewo, noted that AI was increasingly reshaping business operations, research and higher education. He remarked, "Technology is changing everything in the world. Even within academia, we are witnessing the growing influence of artificial intelligence. It is, therefore, important that we understand both its opportunities and implications."

The Chief Executive Officer of BeamX Solutions Ltd, Obinna Nweke, said AI would improve organisational decision making by enabling businesses to analyse data more efficiently. He urged organisations to invest in AI powered solutions to boost productivity and long term competitiveness.

The Chief Executive Officer of Cynergy Solutions Ltd, Dr Oladipupo Sennaike, cautioned against adopting AI without governance structures and ethical safeguards. He stated, "Organisations must develop AI policies and strategies because they do not simply adopt AI without a roadmap."

Panel discussants urged entrepreneurs, professionals and small and medium enterprises to embrace AI as a strategic business tool and invest in continuous skills development to remain competitive in the digital economy.