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
Collaboration explores AI-RAN to improve network efficiency Nvidia provides computing power for real-time optimization Initiative aims to reduce...
Namibia allocates 107.1 million Namibian dollars ($6.5 million) to finance phases 2 and 3 of its Universal Service Fund (USF). The regulator...
Senegal and the United Nations Development Programme (UNDP) signed a framework agreement to strengthen digital governance and integrate AI into public...
Ghana, Italy strengthen cybersecurity cooperation to protect digital infrastructure Initiative supports digital economy growth amid rising cyberattack...
Most Read
01

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
02

Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...

Mauritanian Telecom Operators Submit $27 Million Combined Bid for 5G Licenses
03

Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...

Mahindra & Mahindra Eyes Major Shift to Full Vehicle Assembly in South Africa
04

Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...

Cameroon Presses Telecom Operators on Service Quality as Complaints Rise
05

Gabon's 7% 2031 Eurobond posted its biggest single-day drop in a year on Wednesday after a new I...

Gabon Eurobond Due 2031 Posts Biggest Drop in a Year on IMF Budget Warning
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.