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.
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...
Arrow Minerals opts for negotiation with Guinea after permit revocations halted its Niagara and Simandou Nord projects. Other firms have launched...
New SME Growth Fund aims to improve access to long-term capital Initial $30 million could scale up to $100 million over time SMEs remain...
CFA zone subsidiaries generate 80% of UBA’s net profit in 2025 Earnings from francophone units have increased more than eightfold since 2020 Côte...
Airline to launch Kinshasa–Brussels flights starting in July Two new ATR aircraft will support domestic expansion Move targets strong travel demand...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...