Artificial Intelligence (AI) is a technology that can propel developing economies on a trajectory of sustainable development. However, this is only possible by using a coordinated, integrated approach to the creation and use of AI initiatives.
One of the sessions during the two-day StartupSouth 8 conference in Port Harcourt concentrated on the dynamics of AI, innovation-driven economies, and successful policy interventions.
Yau Garba from the National AI Centre, NITDA; Kehinde Ogundare, Country Head at Zoho Nigeria; Prof. Silva Opuola-Charles, President of Garden City Premier Business School; and Uche Egbuzie, Regional Marketing Manager at Airtel Nigeria were among the outstanding speakers on the panel.
The panelists agreed that public-private cooperation is crucial for realizing AI’s promise. The event provided profound insights into the revolutionary power of artificial intelligence (AI) and the crucial role of policy in determining its impact.
Prof. Silva Opuola-Charles highlighted the economic and digital potentials of AI in Nigeria if properly harnessed. According to him, “AI is innovation and innovation is wealth. However, for AI to create wealth, there must be creativity and market delivery of creativity.
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Opuola-Charles also noted that creatives must be willing to commercialize their services to make meaning out of them. He pointed out that the concept of innovation is ‘think big, start small, and scale fast’.
To achieve sustainable growth and development, the African continent plans to take advantage of the digital transformation process. The use of AI technology is one of the key components of this digitalization drive.
A precise strategic and useful framework, however, has not yet been established or recorded for the use and governance of such technologies.
Silva Opuola-Charles emphasized the importance of education in fostering and enabling AI-driven innovation. He highlighted the significance of connecting classroom learning with practical application.
A startling $15.7 trillion is expected to be added to the global GDP by AI by 2030, of which $6.6 trillion would come from enhanced productivity and $9.1 trillion from consumer effects. AI has the power to revolutionize the way businesses run, spur innovation, and enhance the lives of millions of Africans.
The adoption of AI and related technologies in Nigeria has the potential to have a significant impact on the country’s economic development, access to high-quality healthcare and education, and support for sustainable agriculture. Young people need to be willing to create and scale their ideas, according to Prof. Silva Opuola-Charles.
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