Eleni Giokos discusses AI, green technology, and why the world should bet on Africa with Akinwumi Adesina, President of the African Development Bank (AFDB), on the most recent episode of Marketplace Africa.
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Through infrastructure development or investor mobilization, the AFDB seeks to improve economic prospects throughout Africa. Speaking about the future, Adesina said, “I am proud that 11 of the 25 fastest rising economies in the world today are in Africa.” Our GDP is growing at a rate higher than the rest of the world, at 3.8%. That is not the problem, though. It is that the GDP increase per person is actually very modest.
The world is about to undergo several changes due to artificial intelligence. According to Adesina, it would have a financial impact on the continent: “In Africa, AI is expected to boost the economy by almost $1.2 trillion.”
“We invest quite a bit in the energy business,” he continues. Thus, the functioning of the entire transmission system is what AI would tell you. It will provide you with a great deal of information about where that is occurring and what has to be done to address it. Thus, AI is quite important. However, consider the example of water. You can do things like smart metering by utilizing artificial intelligence and remote sensing data.
Adesina expresses his desire to empower the upcoming generation by saying, “The young people in Africa are intelligent, smart, and dedicated.” We must ensure they get the funding necessary to develop their concepts into successful enterprises in order to build wealth in Africa that is centered on the youth.
Many of the world’s problems, according to the president of AFDB, may be resolved on the continent, and he expects that other nations will contribute to this success. You are discussing the global adoption of electric vehicles in the future. What Africa does with its platinum, lithium, copper, and manganese will determine that future. Furthermore, you mention that 65% of the uncultivated area on Earth remains to be used for food production. It is in Africa, not anywhere else in the globe. Thus, Africa’s actions will shape the global food supply in the future. Thus, essentially, what needs to be done is The preferred location for investments is Africa. It is our responsibility to ensure that we market Africa
