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The Corporate Affairs Commission has announced that it will utilize an Artificial Intelligence system to address a backlog of approximately 7,000 company registration requests and minimize delays in providing services.

The Registrar-General of CAC, Hussaini Magaji, revealed the decision during a stakeholders’ meeting in Kano on Monday.

In a statement shared on the CAC’s social media account and referenced by PUNCH Online on Tuesday, Magaji referred to the AI enhancement as a “total transformation” of the commission’s current Company Registration Portal.

He mentioned that the system was introduced in June and aims to accelerate compliance, registration, and customer service processes with improved precision.

The statement said, “To address the backlog of 7,000 registration applications, the CAC Boss mentioned that an AI agent is being developed to manage requests in compliance, registry, and customer service efficiently and accurately.”

Magaji highlighted various aspects of the new portal, such as immediate name approvals and automated recommendations for different names when desired choices are not available.

As per the Registrar, reserving a name under the updated system is now as straightforward as setting up an email account, with the integration of AI facilitating smooth suggestions and approvals instantly.

He acknowledged that certain clients were facing postponements.

He attributed the initial issues mostly to the unexpectedly large number of applications the new system has had to handle.

In order to handle routine questions, the CAC is also developing AI to prioritize incoming communications.

“In an effort to manage the overwhelming volume of calls and at least 3,000 emails daily, the Registrar-General stated that the Commission chose an AI system capable of processing 3,000 emails in a minute, understanding their content, identifying repeated requests, and directing them to the right departments for immediate action,” the statement noted.

PUNCH Online states that the CAC introduced an AI-powered registration platform earlier this month, with the goal of enhancing Nigeria’s business landscape by streamlining company registration procedures and speeding up approvals.https://punchng.com/cac-defends-new-ai-portal-amidst-complaints/

The CAC stated that the AI project is intended to update company registration processes and speed up approvals, as part of wider initiatives to simplify business operations in Nigeria.

Provided by SyndiGate Media Inc. (Syndigate.info).