Artificial intelligence could add USD 1 T to Africas economy by 2035, the African Development Bank AfDB estimates, but it warned the continent must urgently develop data infrastructure, skills, and regulation to capture the potential gains.
The projection, outlined in a new bank-commissioned report , equates to nearly a third of Africas current annual economic output. The benefits, however, are expected to be concentrated in a handful of sectors, including agriculture, retail, and manufacturing.
The Bank is ready to release investment to support these actions, said Nicholas Williams, an AfDB ICT operations manager. We expect the private sector and the government to utilise this investment.
