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Leveraging Artificial Intelligence to Revolutionize Customer Service in Banking

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Samuel Awe

By  Samuel Awe

In today’s dynamic digital economy, exceptional customer service is no longer a luxury; it is a necessity that determines an organization’s success, especially in sectors like banking, where trust and customer satisfaction are critical. With increasing customer demands and the rapid evolution of digital banking, the integration of Artificial Intelligence (AI) transforms customer service, offering faster, more efficient, and highly personalized solutions.

The banking industry has traditionally grappled with significant challenges in managing customer complaints. Issues such as delayed response times, misclassified complaints, and overwhelming volumes of queries have strained customer service teams and frustrated consumers. However, AI-driven solutions, particularly those leveraging Natural Language Processing (NLP), are poised to address these long-standing issues effectively.

My recent research on consumer complaints classification in the U.S. banking sector demonstrates the immense potential of AI in this area. In the study, I developed an NLP-based Python app that automatically classifies consumer complaints received via email. This innovation simplifies the complaint-handling process and ensures speed and precision. The app accurately routes issues to the appropriate department by analyzing the language used in customer complaints, significantly reducing response times and enhancing operational efficiency.

The advantages of AI-driven systems in customer service go far beyond automation:

  1. They eliminate human complaint classification errors, ensuring every issue reaches the right team.
  2. By automating repetitive tasks, customer service staff can focus on more complex, high-value interactions, ultimately improving the overall quality of support.
  3. AI systems provide valuable insights by analyzing complaint trends, enabling banks to address recurring issues and refine their services proactively.

One of the most exciting capabilities of AI in banking is its ability to offer personalized customer experiences. Through data analysis, AI systems can predict customer needs, recommend tailored financial products, and deliver context-aware support. For instance, a customer who frequently checks mortgage rates might receive personalized advice or alerts on loan offers. This level of personalization not only improves the customer experience but also builds long-term loyalty and trust.

Predictive analytics is another powerful aspect of AI in banking. AI can anticipate potential service bottlenecks or customer dissatisfaction trends by analyzing historical data. For example, if complaints about mobile app glitches increase, AI systems can flag the issue for immediate action, helping banks prevent a larger crisis. This proactive approach ensures customer satisfaction and protects the bank’s reputation.

However, adopting AI in banking is challenging. Data privacy and security are critical concerns, given the sensitive nature of financial data. Banks must ensure compliance with regulations and implement robust security measures to protect customer information. Maintaining customer trust requires ethical AI deployment, including addressing algorithmic bias and ensuring transparency.

As AI continues to evolve, its role in revolutionizing customer service will only grow stronger. According to McKinsey & Company, AI could save the banking industry over $1 trillion by 2030 through enhanced efficiency and cost reductions. These savings can be reinvested in improving customer experiences and expanding access to financial services, particularly in underserved markets.

Adopting AI is no longer a choice for the banking industry; it is a strategic necessity. By embracing AI technologies like NLP, banks can transform their customer service operations, delivering faster, more personalized, and more reliable solutions in an era where customer expectations are at an all-time high; leveraging AI ensures competitiveness and fosters trust and loyalty, two critical components of long-term success in banking.

Samuel Awe is a data analyst and researcher specializing in artificial intelligence and its applications in business intelligence.

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BBNaija, Piracy, and the Hidden Cost of Entertainment

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Hidden Cost of Entertainment

By Adedotun Lawal

We live in an age where everything is just a click away. Music, movies, books, and television shows. It is easy, fast and often free. However, in the shadow of this convenience lies a growing threat that many overlook: piracy. It is not just an issue of right or wrong; it is a quiet, consistent erosion of Nigeria’s entire creative economy, an economy that has given the world Nollywood, Afrobeats, and cultural stories that resonate across continents.

The reality is sobering. A UNESCO report estimates that between 50% and 70% of revenue in Nigeria’s film market is lost to piracy. For every legitimate copy sold, nine others are pirated. This means that for every N1,000 a filmmaker should earn, only N100-500 reaches their pocket. The rest vanishes into the digital ether, stolen by a system that has normalised theft as convenience.

An illustration of this point is a show like Big Brother Naija, a cultural phenomenon currently driving conversations across Nigeria. Beyond the glitz, drama, and fanfare lies a complex production engine powered by producers, editors, camera operators, sound technicians, costume designers, writers, marketers, and countless others. Months of planning, coordination, and creativity go into delivering the daily entertainment millions enjoy. But when this content is illegally streamed on Telegram channels, Instagram stories or pirate sites, it denies every single person on that production chain the value of their labour.

The problem spans Nigeria’s entire creative ecosystem. Nollywood produces approximately 2,500 films annually and employs over one million Nigerians, making it a significant contributor to the country’s economy, which faces high unemployment. Yet the world’s second-largest film industry loses approximately $2 billion to piracy every year. Think about what $2 billion could do, how many more films could be made, how many more jobs could be created, and how many more Nigerian stories could reach global audiences.

In the music industry, the pain is equally acute. No artist wants their process to be disrupted by leaks and affected by piracy, yet this has become the reality for even Nigeria’s biggest stars. When Wizkid, Davido, or Burna Boy release new music, unauthorised versions appear on countless platforms within hours, robbing them of streaming revenues and undermining the hard work of record labels, producers and promoters who invested in their success.

The publishing industry faces similar challenges. Nigerian authors watch as PDF copies of their books circulate freely on social media, effectively eliminating the incentive for people to purchase original copies. When a book that took years to write and months to publish can be shared with thousands at the click of a button, what incentive remains for the next generation of writers?

At first glance, piracy might seem a victimless crime. After all, if someone shares a movie link or uploads a show to Telegram, who gets hurt? The truth is, everyone does. Beyond the loss of revenue, this practice also discourages local and foreign investments, as nobody will want to support an endeavour that may not yield the expected dividends. When content does not generate its expected revenue, budgets are slashed, projects are shelved and jobs are lost.

What makes this particularly heartbreaking is how normalised it has become. From university campuses to WhatsApp groups, pirated content is shared casually, as though it is simply another way to enjoy entertainment. The ripple effects are anything but casual.

Consider a typical Nollywood production. Films are shot under conditions that professionals elsewhere would consider impossible, with budgets as little as N15,000,000. When piracy strikes, that already thin margin disappears entirely. The producer who took a loan to fund the film may never recover their investment. The actors who worked for reduced fees, hoping for backend profits, see nothing. The distributors who believed in the project are left counting losses instead of profits.

The emotional toll on creators cannot be overstated. Take Toyin Abraham’s experience with her 2023 film “Malaika.” After investing N500 million in the production, the actress revealed that piracy of her movie led to panic attacks and hospitalisation. “I wanted to run mad seeing my movie pirated,” she confessed. “I cried and made several calls before she and her team started breaking the links of the ones uploaded.” Her ordeal led to the arrest and prosecution of six suspects for conspiracy, infringement on intellectual property, and cyber-related crimes.

Abraham’s pain reflects a broader truth about piracy’s human cost. As acclaimed filmmaker Steven Soderbergh once observed, “The problem with piracy is that it is not just about money, but also about the devaluation of creative work. When you steal someone’s movie, you are saying their years of work have no value.”

For upcoming creatives, piracy creates a hostile environment where talent may never be rewarded. It discourages innovation and growth, sending a message that creativity is not something to be protected; it is something to be exploited. Why should a young filmmaker spend months crafting a story when they know it will be illegally distributed before they can recoup their investment?

The fight against piracy has seen some victories. Law enforcement agencies have raided piracy rings, and digital platforms have been shut down. Content creators themselves have become more vocal about the impact of piracy on their livelihoods. But this is not a fight they can win alone.

The responsibility also falls on us, the everyday viewer, reader, and listener. Every time we choose to stream a movie from a suspicious free website, download a leaked album, or share a PDF of a Nigerian book, we are voting against the future of our own creative economy. We are saying that the stories, music, and moments we claim to love are not worth paying for.

The irony is painful. We celebrate when Nigerian artists win international awards, when Nollywood films get global recognition, and when our books find international publishers. Yet many of us undermine these same industries through our consumption choices. We want world-class entertainment produced on local soil, but we are unwilling to pay for the local soil to remain fertile.

Every legitimate purchase, every cinema ticket bought, every official stream, and every book purchased from a credible source contributes to the survival of the arts. Nigeria’s creative industries already contribute as much as 1.2 trillion naira each year to the Nigerian economy, but they have the potential to contribute much more if we stop bleeding revenue to piracy.

The choice is ours. We can continue to treat creativity as free content to be consumed without thought for the creators, watching as our industries struggle to compete globally while we starve them of the revenue they need to thrive. Or we can recognise that every naira we spend on legitimate content is an investment in the future of Nigerian creativity, a vote for more Big Brother Naijas, more world-conquering Afrobeats, and more Nollywood films that make us proud to be Nigerian.

In the end, piracy does not just steal content; it steals our cultural future. It silences voices before they have had a chance to speak. And if we want to keep enjoying the stories, music, and moments that make us uniquely Nigerian, we must protect the people who create them.

Lawal, a media professional, writes from Lagos

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Global South and Africa Dominate Scientific Discussions at the Valdai Club’s 3rd Russian-African Conference

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3rd Valdai African Conference, Pretoria, South Africa

By Kestér Kenn Klomegâh

On July 28, 2025, the III Russian-African Conference on the theme: “Realpolitik in a Divided World: Rethinking Ties between Russia and South Africa in the Global and African Context” was held in Pretoria (South Africa). It was organized by the Valdai Discussion Club in partnership with the South African Institute of International Affairs (SAIIA). The conference was attended by more than 60 experts from Egypt, Zimbabwe, Côte d’Ivoire, Russia, Tanzania and South Africa, including employees of the Institute of African Studies of the Russian Academy of Sciences.

Traditionally, the Valdai Club prepares a special Valdai report ahead of the conference. This time, its authors were D.A. Zelenova, PhD in Political Science, Head of the BRICS African Strategy Research Center at the Institute for African Studies of the Russian Academy of Sciences, and Sanusha Naidoo, Research Fellow at the Nelson Mandela School of Government at the University of Cape Town and Senior Research Fellow at the Institute for Global Dialogue, associated with the University of South Africa (UNISA).

The topic of the 2025 report is “Russia and South Africa: A Solid Foundation for Strategic Partnership”, the authors show how the historical legacy of the struggle for the liberation of Southern Africa forms favorable preconditions for the development of bilateral ties in the 21st century. In addition, on the eve of the conference, its participants present a whole “scattering” of expert comments, one of which – “BRICS Summit in Rio: African Vector of Cooperation of the Global South” – was also prepared by the staff of the BRICS African Strategy Study Center.

The first two sessions of the conference – “The Group of Twenty and BRICS: Assessing Strategic Roles in the Changing Global Order” and “Humanitarian Cooperation and the Role of Historical Memory in Russia’s Relations with South Africa and Other African Countries” – were held in an open format, with the participation of representatives of African and Russian media. Chief Researcher of the Institute of Africa of the Russian Academy of Sciences, Professor D.A. Degterev acted as a discussant in the second session, describing the current state of cooperation between Russia and Africa in the field of higher education. In his speech, he presented the thematic issue of the Scientific Notes of the Institute of Africa of the Russian Academy of Sciences (No. 2, 2025), dedicated to the analysis of successful examples of Russian African educational cooperation.

The two subsequent sessions of the conference – “Bilateral Relations of Russia and South Africa: Status and Prospects” and “Trump and the World Order” were held without the participation of the media. Head of the Center for the Study of the BRICS African Strategy of the Institute of African Studies of the Russian Academy of Sciences Daria A. Zelenova presented the current prospects and problematic aspects of bilateral cooperation between Russia and South Africa during the third session, and showed successful examples of interaction. The fourth session included a discussion of the increasing hegemonic tendencies in US foreign policy.

A number of fruitful meetings with leading researchers from South Africa, as well as Egypt, Tanzania, and Zimbabwe took place on the sidelines of the conference, which will give impetus to the cooperation of the Institute of African Studies of the Russian Academy of Sciences with scientific organizations on the continent.

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From Aid to Trade: Turning China’s Investment into Export Power

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Rachel-Irvine-CEO-Irvine-Partners

By Rachel Irvine

Africa may not boast the largest economies or deepest pockets, but it has what many regions lack: energy, youth, abundance, and innovation. While the rest of the world gets older and runs out of steam, Africa’s cities are expanding, consumer demand is rising, and resources remain plentiful.

What this means is that in the next 25 years, over half of global population growth will emanate from Africa, shifting the currents of investment, infrastructure, and trade.

Deep historic and cultural links are keeping the West engaged in Africa, but changing geopolitical dynamics are changing how its economic and strategic importance is viewed. 

First mover advantage

Recognising its potential as a new frontier for global economic growth early on, China was Africa’s first meaningful investor in the 21st century. Over the past two decades, the Asian colossus has shifted its early focus on extractive industries to investing in renewable energy, railways, ports, manufacturing, digital networks, and healthcare. This commitment has helped lay much of the physical and digital backbone that Africa so desperately needs to grow.

Across the continent, projects backed by Chinese investment have strengthened critical systems and enabled new markets. The National ICT Backbone in Tanzania has expanded broadband access, made e-health and e-learning possible, and strengthened e-government services. In Sierra Leone, the China-Sierra Leone Friendship Hospital, built over 7,700m², continues to enhance healthcare delivery and played a vital role during the Ebola outbreak. The proposed $1.4 billion upgrade of the Tanzania-Zambia Railway furthermore promises to revitalise a key regional trade corridor for copper exports and improve transport efficiency in the region.

Such stories about local projects may not dominate headlines abroad, but they stimulate markets, build skills, and engender the conditions for African businesses and consumers to thrive.

A partnership evolving with the times

China’s approach has evolved to match Africa’s economic trajectory. The early years were defined by sovereign-backed megaprojects. Today, China invests in targeted, more manageable and commercially viable investments that encourage local participation and private-sector delivery while providing a clearer return on investment. This “small and beautiful” phase of its Belt and Road Initiative is well suited to Africa’s priorities: building industrial capacity, expanding renewable energy, and accelerating digital transformation.

The automotive sector offers a clear example. In South Africa, nearly half of the 14 Chinese car brands that are now active in the country, entered the market in the past year. BYD, one of China’s largest electric vehicle manufacturers, plans to triple its dealership network by 2026 and expand its range of electric and hybrid models. Other manufacturers, including Chery and Great Wall Motors, are gaining ground by offering technology-rich, competitively priced vehicles tailored for African consumers. These moves are about more than sales: they are building supply chains, creating jobs, and positioning South Africa as a hub for electric vehicle adoption and assembly.

Shifts in global trade are reinforcing these opportunities. As Western protectionism grows, including through US tariff regimes, China is expanding zero-tariff access for African goods and strengthening its role as a reliable trade partner. For African economies, this opens new markets and buffers against volatility in traditional export destinations.

Why engagement matters

For African governments, China’s role is pragmatic and strategic because it speeds up infrastructure delivery, broadens industrial bases, and opens new trade corridors. For businesses, aligning with this investment momentum can mean first-mover advantage in high-growth markets, improved access to logistics and industrial hubs tied into global supply chains, and opportunities to co-develop products and services for a rapidly expanding consumer base.

However, simply being present in the right markets is not enough. Success depends on positioning: showing a clear understanding of local priorities, demonstrating long-term commitment, and framing participation as part of Africa’s wider development story, which is why those that approach this relationship with clarity and purpose will gain both economic and reputational value.

This requires communicating the partnership in a way that resonates with audiences in both Africa and China – replacing outdated narratives of dependency with a focus on mutual benefit, shared priorities, and tangible results. Because perceptions can shift quickly and decisively, telling that story effectively is as critical as the investment itself.

Trade, not charity

Africa must be a partner, not a passive recipient of Chinese largesse by making African Continental Free Trade Area rules bite at the border, cutting clearance times, lifting product standards, and expanding export finance so manufacturers are able to deliver volumes. Manage debt in the open, and drop the tired “China asset grab” narrative, because outright takeovers are rare. The real work is negotiating clear, enforceable contracts that secure skills transfer and grow local capacity. The aim isn’t investment for show, but investment that builds competitive industries and export muscle. That’s how Chinese capital turns into jobs and exports.

Looking ahead

Africa’s annual infrastructure financing gap still exceeds $100 billion. No single partner can close it, but China’s willingness, scale, delivery capability, and track record make it an indispensable player in meeting that challenge. 

For those who read the signs, the opportunities are boundless. The next decade will define the course of Africa’s growth and decide who reaps its rewards. Businesses, investors, and decision-makers who seize the opportunity – and position their willingness – will help to write Africa’s new story.

Rachel Irvine is the CEO of Irvine Partners

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