Rédaction Africa Links 24 with Ghanaian Times
Published on 2024-03-19 08:00:37
In a recent panel discussion on AI in Accra, the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, emphasized the importance of Africa embracing Artificial Intelligence (AI) to propel the development of the continent. Georgieva highlighted that the benefits of AI far outweigh its negatives, urging Africa to explore this emerging technology to boost its economies. The panel discussion, focused on the theme “AI as a Catalyst to Transform Economies in Sub-Saharan Africa,” brought together various dignitaries and experts in the field.
Georgieva stressed the urgency for Africa to adopt AI, citing it as the best change for the world that presents invaluable opportunities as well as challenges. She mentioned the need for Africa to invest in digital infrastructure, human capital, innovation, and develop regulations and ethical codes to fully leverage the benefits of AI. Estimates by the World Bank indicated that Africa would require approximately $15 billion to address digital infrastructure on the continent.
The IMF Managing Director highlighted that while developed economies are estimated to lose 60% of jobs due to AI adoption, emerging economies might lose 40%, and lower-middle-income economies might lose 26% of jobs. Georgieva underscored the importance of implementing structures and policies to prevent deepening current inequalities and combatting issues like deep fakes, distortion, and misinformation.
Other speakers at the panel discussion included the Minister of Finance, the Minister of Communications and Digitalisation, the Founder and President of Ashesi University, and the Head of Google Research in Accra. They echoed the sentiments on the potential of AI to transform economies and enhance various sectors such as education, health, and transportation.
The Minister of Communications and Digitalisation highlighted the government’s efforts to develop digital infrastructure over the past seven years, including initiatives like the National Identification System and promoting digital financial services. She emphasized the need to bridge the digital divide between advanced and developing economies to prevent further inequalities.
Dr. Adam, the Minister of Finance, noted that AI is here to stay and has already led to fundamental changes in how we live, work, and regulate. He mentioned that AI is estimated to contribute $15.7 trillion to the global economy by 2030, with $1.2 trillion generated in Africa. The government’s objective is to leverage AI to harness the innovativeness of the youth and create opportunities for economic growth and development.
Overall, the panel discussion highlighted the immense potential of AI in driving economic transformation in Africa and the need for proactive measures to ensure that the continent reaps the benefits of this emerging technology. The speakers emphasized collaboration between governments, private sector entities, and academia to fully leverage AI for sustainable development and inclusive growth.
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