Artificial Intelligence to Contribute $1.2 Trillion to Africa’s Economy – Microsoft.
Microsoft has projected that Artificial Intelligence (AI) will contribute approximately “$1.2 trillion” to Africa’s economy by the year 2030. This figure is part of a larger projection of “$15.7 trillion” as the potential global contribution of AI to the economy by the same year.
Theo Watson, a Commercial Lawyer with Microsoft Africa, presented these projections during his session titled “AI Opportunity in Africa” at the African AI Journalists Academy, held virtually. Watson highlighted that the $1.2 trillion potential in Africa could increase the continent’s GDP by “5.6%” by 2030.
While discussing these projections, Watson emphasized the importance of responsible regulation of AI to maximize its opportunities and benefits. He stressed that as the world moves towards an AI-powered future, it must prioritize responsible and sustainable innovation.
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During the webinar, Akua Gyekye, Government Affairs Director at Microsoft Africa, also addressed the transformative impact of technology on various industries and its role in addressing socioeconomic challenges such as healthcare, education, and agriculture. Gyekye noted that the impact of technology on these sectors is tangible and significant.
