Artificial intelligence (AI) is rapidly emerging as a key technology of the fourth industrial revolution. While offering significant opportunities, AI also presents potential risks that require proactive mitigation.

Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has called on African nations to fully embrace artificial intelligence (AI). She made these remarks at a conference in Accra, Ghana, on March 18, 2023, co-hosted by the IMF and the Ghanaian Ministries of Finance, Communications and Digitisation.

"Artificial Intelligence is our best chance to overcome the long-term low productivity. When we think of what can lift productivity, by far, our best chance is in investing in green transition and in the adoption of AI. It (AI) can be the big bang that allows us to live longer, healthier, better educated, [and] more productive lives. We face, urgently, the necessity to embrace AI, and make the best out of it," she said.

The advent of generative AI, such as ChatGPT in November 2022, has raised public awareness of both the advantages and potential risks of this technology. Several African countries have implemented national AI strategies and are taking steps to regulate its widespread use. Seydina Moussa Ndiaye, a member of the United Nations’ 38-strong AI advisory body, expressed concern that Africa could become a testing ground for new AI solutions without adequate control over the technology.

According to Ghana’s Finance Minister, Mohammed Amin Adam, AI could potentially generate nearly $1,200 billion for the African continent by 2030. However, as Georgieva noted, achieving this goal requires building more digital infrastructure, investing in human capital, fostering entrepreneurial innovation, and establishing a robust regulatory framework.

Adoni Conrad Quenum