Telecom

AI Could Add $1.5 Trillion to Africa's GDP by 2030, Says Google Exec

AI Could Add $1.5 Trillion to Africa's GDP by 2030, Says Google Exec
Friday, 18 October 2024 10:20

Olumide Balogun, Google’s Director for West Africa, recently announced that artificial intelligence (AI) could contribute up to $1.5 trillion to Africa's GDP by 2030. He made this statement during the Nigerian Economic Summit held in Abuja.

However, the United Nations Development Program (UNDP) presents a more conservative estimate. In its "Africa Development Insights" report published in June 2024, citing PricewaterhouseCoopers, the UNDP estimates that AI could contribute around $1.2 trillion to the African economy by 2030.

According to the GSMA, the global mobile industry association, AI has the potential to transform several key sectors on the continent. In a July 2024 report, "AI for Africa: Use Cases Delivering Impact," the GSMA highlights that almost half of the AI applications identified focus on agriculture, followed by energy and climate action.

The report further notes that predictive AI models dominate these applications. These models are used for forecasting, risk assessment, and anomaly detection, such as predicting weather conditions, optimizing crop yields, forecasting food supply and demand dynamics, and improving energy consumption and production.

Artificial intelligence has become a hot topic in the tech world, and many African countries are actively developing AI strategies to harness its benefits. Oxford Insights, a UK-based consultancy specializing in AI and digital transformation, evaluated AI adoption in governments across sub-Saharan Africa its "Government AI Readiness Index 2023." The region scored an average of 30.16 out of 100, a slight improvement from 29.38 in 2022.

Despite these developments, there are still calls for caution regarding AI adoption. Balogun, however, remains optimistic, stating that AI will encourage creativity, generate and transform jobs, and help set quality standards for the evolving labor market.

On the same topic
Côte d’Ivoire is advancing talks with the United States on digital infrastructure and innovation Starlink is positioned as a key tool to expand...
Mali and Orange Mali plan a partnership to accelerate the digital transformation of universities. The initiative focuses on connectivity,...
Zamani Telecom calls for a more favorable investment codeto support infrastructure spending and market competitiveness. The operator’s annual...
Starlink launches commercial services in the Central African Republic to expand nationwide internet coverage. The service costs $57.76 per month...
Most Read
01

Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...

Togo Passes Law to Criminalize Counterfeiting of West African CFA Franc
02

Since its 2019 IPO, Airtel Africa paid Deloitte over $37 million in audit and non-audit fees,...

Airtel Africa and Deloitte: A Seven-Year Relationship, $37 Million in Fees and a Planned Handover
03

CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...

Strengthening the Business Climate in WAEMU Countries: CCR-UEMOA Reviews Its Midterm Record
04

World Bank announces $137 million to boost West Africa digital economy Program expands broad...

Benin, Liberia and Sierra Leone Receive $137M to Expand Digital Access for 5.2 Million People
05

Tilenga oil project required land from 4,954 households in Uganda Over 99% of affected households...

Report details land compensation for nearly 5,000 households in Uganda’s Tilenga oil project
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.