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Gbeminiyi Ogunleye
22 hours ago
Overview
Okonjo-Iweala: With Right Policies, Investments, AI Can Boost Nigerias Economy
The Director-General, World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, yesterday said the Nigerian economy could reap enormous benefits from Artificial Intelligence (AI) if the government makes the right policy and investment decisions to drive its adoption.
Citing a recent report by a public policy consultancy, Okonjo-Iweala said AI could generate $136 billion in productivity gains, including cost and time savings and increased revenues for four countries – Nigeria, Kenya, Ghana and South Africa.
She, however, pointed out that access to reliable electricity power supply, power outages and constant interruptions might prove a more challenging constraint in Nigeria and other African countries to internet access and AI adoption than anything else.
Delivering her keynote address at the 10th Convocation of the African University of Science and Technology (AUST), Abuja, the former Minister of Finance and Coordinating Minister for the Economy said, “If Nigeria could get it right, our economy could reap major rewards”.
Credit: Thisdaylive
