Business owners across the country have been urged to invest significantly in technology to help sustain their enterprises and improve operations and performance.
A senior lecturer in the Department of Business Administration at Nasarawa State University, Keffi, Professor Barnabas Barde, advised while delivering the university’s 56th Inaugural Lecture, which he organised and which attracted senior management and staff of the institution.
Speaking on the theme “Business Administration in the Digital Age: Navigating the Impact of Business, Artificial Intelligence, Robotics, Data Analytics and Entrepreneurship (BARDE)”, the professor stressed that while technology offers vast opportunities, businesses must also ensure that employees’ emotions and well-being are not undermined.
He noted that organisations should understand the potential of each emerging area and how it can be leveraged to create new opportunities and remain competitive. At the same time, they must recognise the risks associated with these technologies and be prepared to invest in research, development, experimentation and innovation.
Highlighting the BARDE model, Professor Barnabas Embugus Barde explained that it has far-reaching implications for business strategy, operations and management. According to him, it can enhance decision-making, boost productivity, increase revenue, strengthen risk management and improve overall efficiency.
However, he cautioned that the rise of artificial intelligence and robotics poses challenges, particularly job displacement, data privacy concerns and ethical issues that must be addressed.
“Businesses can use data analytics to design targeted campaigns or deploy AI and robotics to develop new products and services. This is critical, as AI and robotics are increasingly taking over human roles. We must therefore prepare for the challenges ahead. Employees must continually learn and equip themselves with relevant skills,” he warned.
He added that entrepreneurship could be harnessed to create new business models and revenue streams driven by technology, stressing that organisations must develop strategies to attract, retain and develop the talent needed in a rapidly changing environment.
“In summary, the BARDE model reflects a complex and dynamic landscape that requires businesses to stay informed and adapt quickly. With a strategic and holistic approach, businesses can seize the opportunities these technologies present, improve operations and enhance customer experience, profit and wealth generation,” he said.
In her remarks, the Vice Chancellor of Nasarawa State University, Keffi, Professor Sa’adatu Hassan Liman, represented by the Deputy Vice Chancellor (Academic), Professor Maikano Ari commended Professor Barde for an inaugural lecture that aligns directly with global trends shaping modern industries.
She described him as a distinguished scholar whose academic brilliance and professional integrity continue to inspire future leaders in business and management sciences.
“The topic could not be more relevant, especially at a time when automation, digital intelligence and innovation are redefining competitiveness across the world,” she stated, expressing confidence that the lecture would enrich conversations and guide students, academics, policymakers and entrepreneurs in repositioning business practices for the future.
Also speaking, the Chairman of the Expanded Planning Committee and Senior Lecturer in the Department of Entrepreneurship Studies, Dr Vincent Paul, commended Professor Barde for his commitment to addressing critical issues affecting business development in Nigeria.
Olusola Akintonde