In today's fast-paced business environment, the integration of Artificial Intelligence (AI) is crucial for staying competitive, Nexford University has said.
Across the globe including in Kenya, innovative companies are leveraging AI to drive efficiency, enhance decision-making, and spur growth.
However, according to experts, the key to fully harnessing AI's potential lies in upskilling the workforce, a fact that forward-thinking employers are increasingly recognising.
A study by the World Economic Forum found that 94 per cent of business leaders expect employees to pick up new skills on the job, with 42 per cent of core skills required to perform existing jobs expected to change with time.
Nexford University CEO, Fadl Al Tarzi, says that more of Kenya’s leading employers are increasingly recruiting employees into AI training programmes.
“These organizations clearly recognize that AI will not replace humans, but rather humans leveraging AI will replace the ones who are not – and the same will apply at an organizational level.” said Fadl Al Tarzi, CEO of Nexford University.
Over the past two years, AI technologies have been transforming industries by streamlining operations and offering deep insights into customer behavior.
In Kenya, the insurance sector companies are using AI to predict risk, optimize pricing, and improve claims processing and fraud detection.
These advancements enhance efficiency and customer satisfaction, contributing to socio-economic development.
The adoption of AI in the insurance sector has led to a 30 per cent reduction in claims processing time and a 25per cent improvement in fraud detection rates, according to the Association of Kenya Insurers.
Some Kenyan firms are partnering with Washington DC-based Nexford University to provide high-quality, flexible, and affordable upskilling programs, specifically through joining the University’s career coalition program.
The program is designed to bridge the gap between theoretical knowledge and practical application, ensuring that participants are ready to tackle real-world challenges.
In 2023 Nexford University partnered with the Federation of Kenya Employers (FKE) to analyze the needs of over 500 employers across Kenya.
The study showed 72per cent of organizations feel that imparting training to their existing employees has successfully bridged the skills gap.
This type of collaboration enables the university to deliver skills-focused programs which in turn empower employees to learn at their own pace, applying new skills directly to their work, thus ensuring immediate and practical ROI to their employers.
“In the era of AI and smart technologies, upskilling and reskilling our workforce is not just an option but a necessity. By equipping our team with cutting-edge skills, we foster a culture of continuous learning, ensuring we stay ahead in a dynamic business environment.”
Our partnership with Nexford University enables us to deliver targeted upskilling and reskilling programs, unlock new opportunities, enhance productivity and drive a culture of innovation.” said Gilbert Mutai, Head of ICT, Car and General.
