AI To Contribute $30bn To Africa’s Economy In 10 Years

A recent report has highlighted the transformative potential of Artificial Intelligence (AI) across Africa, predicting that the technology could inject up to $30 billion into the continent’s economy over the next decade.

This projection underscores AI’s growing importance in shaping Africa’s economic future, particularly as digital transformation accelerates across the region.

According to a report by the research firm Public First, commissioned by Google, AI has enormous potential to spur economic growth and assist in resolving some of Africa’s most important problems.

The report mentioned that AI technology might boost agricultural productivity through improved data analytics and precision farming methods, as well as enhance healthcare results by offering more precise diagnosis and treatment alternatives.

According to the report, “Africa’s digital economy has a bright and full future with AI,” while stating that Sub-Saharan Africa is entering a “digital decade,” with over half of the region’s population expected to gain internet access.

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It stated that,  there are a lot of prospects for economic growth due to the increase in connectivity and the expanding use of digital tools. According to the report, a mere one per cent increase in internet access can improve GDP by over six per cent, highlighting the significant impact that digital technology will have on the future of the continent.

The report said, Google products including YouTube, Maps, and Search contributed $16 billion to regional economic activity in 2023 alone. “This underscores the important role these tools play in fostering growth, connectivity, and opportunity. At the same time, Google’s $1 billion commitment, announced in 2021, continues to enhance connectivity, drive innovation and support local entrepreneurs across the continent,” it added.

The report highlighted the significance of talent development in enabling Africa to realise its economic potential. It mentioned that over 6.5 million individuals received training through Google’s Developer Scholarships and Digital Skills for Africa initiatives in 2023, leading to a $7.8 billion increase in productivity.

“These newly gained abilities have helped people and businesses grow and run more effectively, which has increased overall economic output. Additionally, 60 per cent of young adults in Sub-Saharan Africa have applied for jobs using Google Search, highlighting the significance of digital technologies in paving the way for prosperous careers in the digital economy,” it said.