The Ethiopian Artificial Intelligence Institute and several government institutions have signed a memorandum of understanding to enhance the effectiveness of the capital market in Ethiopia and provide support to the sector through modern technology.
The primary objective of this agreement is to strengthen the infrastructure and communication networks of the Ethiopian Capital Market Authority by leveraging various artificial intelligence technologies.
During the signing ceremony, Engineer Worku Gachna, the Director General of the Artificial Intelligence Institute, stated their readiness to offer the necessary assistance in developing the technologies required for the growth of the capital market. This includes data collection and analysis as well as providing training.
Dr. Biruk Taye, the Director General of the Ethiopian Capital Market Authority, emphasized the importance of collaboration with various institutions to establish a secure capital market system in Ethiopia. He also highlighted the significant role that artificial intelligence technology will play in preventing various forms of criminal activity, considering the sector’s reliance on technology.
Artificial Intelligence Institute, Information Network Security Administration, and Ethiopia’s National Identity Program are among the institutions that signed the memorandum of understanding.
