By CHIDIEBERE NWANKWO
The Managing Director/CEO, Fidelity Bank Plc has called on Nigerian organisations and firms to utilize the benefits of evolving technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) in implementing their growth plans.
She spoke at the recent 17th Africa’s Beacon of ICT (BoICT) 2026 Merit and Leadership Awards, organised by Nigeria Communications Week in Lagos, with its theme as, “Impact of AI and IoT on Business Operational Efficiency”.
In her keynote address, Onyeali-Ikpe noted that artificial intelligence and the Internet of Things are redefining how organisations operate across industries.
Tagging the theme of the event as “both timely and necessary as we are living in an era where technology is no longer a support function, but is the engine of enterprise transformation”, she explained: “AI is enabling automation of complex processes, unlocking real time insights, and improving decision making. IoT, on the other hand, is connecting systems, assets and people, allowing businesses to monitor performance, predict outcomes and optimise resources in ways we could not imagine a decade ago. Together, these technologies are not just improving efficiency, they are fundamentally reshaping business models.”
She illustrated: “A few years ago, a manufacturing firm in Africa struggled with frequent machine breakdowns. Production delays were common, costs were rising, and customer satisfaction was declining. Then they deployed IoT sensors across their equipment. These sensors monitored temperature, vibration, and performance in real time. Coupled with AI analytics, they could predict failures before they happened. The result isn’t far from amazing: Downtime reduced significantly, costs stabilised, and productivity improved. This is the power of AI and IoT at work: quiet, precise, transformative.”
She further disclosed that technology, at Fidelity Bank, is not an abstract concept, it is a practical tool for solving real problems, which the bank has embraced as a strategic enabler of efficiency and growth.
She said the deployed AI driven systems in key areas of its operations, including fraud detection systems; customer engagement platforms, customer interface such as enterprise software that simplify accounting, inventory management, and business decision making, helping them operate more efficiently and scale sustainably.
While encouraging People Development to complement technology adoption, Onyeali-Ikpe warned: “Organisations that fail to adopt intelligent systems will struggle with cost inefficiencies, slow decision making, and declining competitiveness. Those that embrace AI and IoT will operate faster, respond better, and deliver more value.”
“As we look to the future, we must recognize that the convergence of AI and IoT will accelerate. We will see smarter cities, intelligent supply chains, predictive healthcare, and more inclusive financial systems. The question is no longer whether these technologies will shape our future. The question is how prepared we are to harness them.”
Onyeali-Ikpe was represented by the Executive Director/Chief Operations & Information Officer, Fidelity Bank Plc., Mr. Stanley Amuchie, who also won the Outstanding Banker of the Year Award at the 17th Africa’s Beacon of ICT (BoICT) 2026 Merit and Leadership Awards.
