Integrate AI For Quick Economic Devt – IMF Boss

Kristalina Georgieva (3rd R), Dr. Mohammed Amin Adam (2nd L), Ursula Owusu-Ekuful (3rd R) with other
conference speakers

 

Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has urged African governments to embrace and integrate Artificial Intelligence (AI) effectively in various fields to ensure quick economic development and resilience.

Speaking at a recent AI conference jointly organised by the Ministry of Finance, Ministry of Communications and Digitalisation, and the International Monetary Fund (IMF),  she said AI could be the big bang “that allowed us to live longer, healthier, better educated, [and] more productive lives. We face, urgently, the necessity to embrace AI, and make the best out of it.”

Minister of Finance, Dr. Mohammed Amin Adam, in a welcome address, said Ghana was committed to working with other African countries and development partners across the world to fund Artificial Intelligence (AI) projects.

“Ghana, and several other African countries are looking to collaborate with development partners such as the IMF, World Bank and the African Development Bank (AfDB) among others to provide funding, technical and implementation support for AI projects as well as the development of national AI strategies tailored to our unique needs,” he noted.

He said such collaboration would ensure that the continent took advantage of the numerous opportunities presented by AI to drive sustainable development and economic growth.

Noting that AI presented a huge economic opportunity to the continent, he said that could contribute up to US$15.7 trillion to the global economy by 2030, of which US$1.2 trillion could be generated in Africa.

He continued that “we will aim to incorporate accountability, responsibility, and transparency principles and push for stronger and ethical regulation of AI systems.”

Furthermore, he called on governments, the private sector, development partners and academia, to continue to prioritise working together in a growing world of AI.

That, he stated, would ensure the continent unlocked an independent, wealthy future for Africa where technology removed the obstacles that precluded its people, and helped nations to realise their economic potentials to the fullest.

Minister for Communications and Digitalisation, Ursula Owusu-Ekuful, also noted that the power of AI could transform societies, and asked African governments to invest more to provide connectivity across the continent.

According to her, several initiatives, including a digitised national identity card (Ghana card), digital addressing system had been developed in Ghana, while fibre connectivity had also been extended.

By Samuel Boadi

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