Artificial Intelligence to contribute $1.2 trillion to Africa’s economy – Microsoft

Microsoft has projected that Artificial Intelligence (AI) will add about $1.2 trillion to Africa’s economy by the year 2030.

This amount is part of a total of $15.7 trillion projected as a possible contribution of the technology to the global economy by the same year.

A Commercial Lawyer with Microsoft Africa, Theo Watson, made the projections in his presentation, “AI Opportunity in Africa” at the African AI Journalists Academy held virtually.

Watson said the $1.2trn that could be generated in Africa would boost the continent’s GDP by 5.6% by 2030.

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Watson, however, emphasised the need for responsible regulation of AI to accelerate its opportunities and reap its benefits.

According to him, as the world navigates this AI-powered future, our journey must be underpinned by responsible and sustainable innovation.

Also speaking during the webinar, Akua Gyekye, Government Affairs Director, Microsoft Africa, said the world was changing and industries are transforming rapidly and drivers of economic growth are evolving.

Gyekye said that technology was addressing socioeconomic delivery issues, such as health, education, and agriculture among others, adding that the impact was real.