Nigeria’s AI market growth to hit 30% in 5 years

Nigeria’s burgeoning Artificial Intelligence market will witness a significant growth of 30 percent in the next five years, a study has shown. 

According to the study by group of professionals in the AI sector in the country, the growth will be driven by increasing healthcare, agriculture, finance, and education adoption.

In healthcare, AI is poised to revolutionise patient care and diagnostics. AI-driven solutions are expected to enhance crop yield predictions and pest control in agriculture, which is vital for a country where agriculture constitutes a significant part of the economy, the study said. 

To this end, AI sector in Nigeria has announced its groundbreaking artificial intelligence (AI) conference and hackathon in Lagos.

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InnovateAI Lagos 2024, which is set to be a pivotal event in the Nigerian artificial intelligence industry is themed: “Adapting AI For Nigeria: Crafting Intelligent Solutions For Our Unique Landscape” and will explore the transformative power of AI in addressing the unique challenges and opportunities within the Nigerian context.

Scheduled to hold in February, the conference is a convergence of over 1,000 professionals, researchers, entrepreneurs, investors, thought leaders, enterprise businesses, and regulators, all united by a passion for AI and its potential to revolutionise our society. 

According to Dotun Adeoye, one of the co-conveners, the event is more than just a conference. “It is a catalyst to eliminate silos in the Nigerian AI ecosystem as well as imbibing best practices from local and global thought leaders.”

Another co-converner, Ehia Erhaboh added, “We aim to localise AI advancement for Nigeria, ensure this 4th industrial revolution and general purpose technology for local challenges. InnovateAI Lagos 2024 will showcase how AI can effectively address our unique challenges.”