THE NATION
The Director General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, has revealed that Nigeria and three other African countries could share in a projected $136 billion economic boost from Artificial Intelligence (AI).
She made the remarks during 10 convocation ceremony at the Africa University of Science and Technology (AUST) in Abuja, where the Group Managing Director of the United Bank for Africa (UBA) Oliver Alawuba received an honorary doctorate. UBA also donated a new AI and emerging technologies center to the university.
Dr. Okonjo-Iweala stated: “AI has the potential to generate $136 billion in productivity gains, cost savings, time savings, and increased revenues for Nigeria, Kenya, Ghana, and South Africa.” Of this total, Nigeria is set to gain 43 percent, thanks to its proactive national AI strategy developed by the Ministry of Communications, Innovation, and Digital Economy.
Disclosing the findings of WTO research, Dr. Okonjo-Iweala explained that global AI adoption could boost international trade by up to 14 percentage points by 2040. However, she warned that uneven AI adoption could halve these benefits, particularly for developing countries. She stressed the need for international cooperation to maximize AI’s potential.
For Nigeria, AI offers transformative solutions to long-standing challenges. In education, AI can customize lessons for students in underserved areas. In healthcare, it can improve diagnostics and patient care in regions lacking medical professionals. In agriculture, AI can enhance yields through precise pest management and soil analysis. Companies like Crop2Cash and Thrive Agric are already leveraging AI to support farmers she pointed out…
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