Artificial Intelligence could contribute up to $2 trillion to Africa’s economy by 2035, according to tech experts. This potential stems from AI’s ability to enhance growth and efficiency across multiple sectors. Africa is currently experiencing strong economic momentum, with projections placing its combined GDP at $29 trillion by 2050. A Chatham House report identifies Africa as the world’s second-fastest-growing region, while the African Development Bank forecasts a rise in annual growth from 3.7% to 4.3%.
There will be other things added to the continent’s GDP, but when AI is added, it can scale in Africa, and what is more important is how it will add the $2 trillion, and what we need to do.”
According to Charles Ilo, chief product and tech officer at Peerless, AI’s potential impact will be compared to that of the internet or electricity.
“It is estimated that the impact of AI will be greater. AI will have a massive impact on society,” he said.
Despite its potential, Malik Afegbua, a Nigerian filmmaker, highlighted that Generative AI is still biased when trying to create African people due to a lack of data. To achieve its potential on the continent, he noted that the AI data gap must be bridged.
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