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The President of CILRM of Nigeria, Dr Nkechi Akubuiro, stated that risk management is integral to every profession, and urged Nigerians to embrace AI as a critical tool for improving decision-making processes and minimising uncertainties.

“There is no way we can manage risk without AI’s benefits,” Akubuiro said.

She illustrated AI’s potential in banking, healthcare, and everyday business decisions, where vast amounts of data must be processed efficiently to mitigate risks and harness opportunities.

She remarked, “The profession of risk management is important for everybody. The doctor needs to look at risks as they pertain to his work; the lawyer and the management consultant need to look at risks and the politician needs to look at risks. Everybody, the management consultant, needs to know the risks; so there is risk in everything.

“How would you use AI to manage the risk of giving out loans in the bank? How would you use AI to manage the risk of a patient dying on the operation table?

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