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AI to Contribute $1.2 Trillion to Africa’s Economy by 2030

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A multinational technology company, Microsoft on Thursday said that Artificial Intelligence (AI) had the potential to contribute up to USD15.7 trillion to the global economy by 2030.

A Commercial Lawyer with Microsoft Africa, Theo Watson, made this known in his presentation, “AI Opportunity in Africa” at the African AI Journalists Academy via Microsoft Team.

While emphasising the opportunities AI could bring to Africa, Watson said that of the USD15.7 trillion AI could generate, USD1.2 trillion could be generated in Africa.

He noted that the USD 1.2 trillion represented a 5.6% increase in the continent’s GDP by 2030. Watson, however, emphasised the need for responsible regulation of Artificial Intelligence (AI) to accelerate its opportunities and reap its benefits.

According to him, as the world navigates this AI-powered future, our journey must be underpinned by responsible and sustainable innovation. He said that this would ensure that the progress of AI in the nation remained aligned with human values and societal norms.

“Responsible and sustainable innovation will ensure that AI progress aligns with the needs that define Africa’s vastly diverse cultures.

“This involves a deep engagement with the continent’s unique challenges, recognising their complexity and prioritising those that AI can help solve.

“Also, collaborating with relevant stakeholders will be key to ensuring that AI solutions are not just technologically advanced but also culturally attuned and genuinely beneficial to African societies,’’ the lawyer said.

Source: Pulse Nigeria