In today’s fast-paced business environment, the integration of Artificial Intelligence (AI) is crucial for staying competitive. Nexford University emphasizes the importance of AI in driving efficiency, enhancing decision-making, and spurring growth, with innovative companies across the globe, including Kenya, leveraging these technologies.
However, the true potential of AI can only be unlocked through upskilling the workforce. A study by the World Economic Forum reveals that 94% of business leaders expect employees to acquire new skills on the job, with 42% of core skills required for existing jobs expected to evolve over time. This underscores the importance of continuous learning and adaptation.
Fadl Al Tarzi, CEO of Nexford University, notes that Kenya’s leading employers are increasingly enrolling their staff in AI training programs. He emphasizes that AI will not replace humans; rather, humans who effectively leverage AI will outpace those who do not, applying this principle at both an individual and organizational level.
In Kenya, the insurance sector is at the forefront of AI adoption. Companies are utilizing AI to predict risk, optimize pricing, and improve claims processing and fraud detection. These advancements have led to a 30% reduction in claims processing time and a 25% improvement in fraud detection rates, significantly enhancing efficiency and customer satisfaction.
Nexford University is playing a pivotal role by partnering with Kenyan firms to provide high-quality, flexible, and affordable upskilling programs. Their career coalition program bridges the gap between theoretical knowledge and practical application, ensuring participants are ready to tackle real-world challenges and provide immediate ROI to their employers.
In 2023, Nexford University collaborated with the Federation of Kenya Employers (FKE) to assess the needs of over 500 employers. The study found that 72% of organizations successfully bridged the skills gap through employee training. This collaboration underscores the necessity of upskilling in the AI era, fostering a culture of continuous learning, innovation, and productivity.
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