Nigeria Fintech Week 2024: Stakeholders Advocate for Local AI Innovations to Drive Africa’s Progress
On the final day of the 2024 Nigeria Fintech Week, stakeholders emphasized the need for Africa to develop home-grown Artificial Intelligence (AI) solutions tailored to address the continent’s unique challenges in education, health, agriculture, and other critical sectors. This was one of the major recommendations during the fintech discussions.
In his keynote address, Dr. Kashifu Inuwa Abdullahi, Director General of the National Information Technology Development Agency (NITDA), called for greater advocacy to ensure Africa’s inclusion in the global AI landscape. Represented by the Acting Director of Regulations and Compliance at NITDA, Dr. Emmanuel Edet, Abdullahi highlighted the issue of algorithm bias as a key reason for Africa and the Global South to participate actively in AI development to bridge the digital divide.
“As nations of the Global South, we must form strategic alliances to leverage Artificial Intelligence for transformation and the protection of sovereignty,” Dr. Abdullahi emphasized.
He went on to describe NITDA’s efforts in advancing AI development in Nigeria, noting the creation of a National Artificial Intelligence Strategy and the establishment of a Centre for Artificial Intelligence and Robotics. These initiatives stemmed from a National AI Workshop involving over 100 Nigerian experts, designed to promote sectoral AI adoption, research and development, and the establishment of an AI governance framework.
Dr. Abdullahi also informed stakeholders of NITDA’s partnership with CISCO to enhance AI research and foster a thriving ecosystem in Nigeria. He added that NITDA has launched an AI scholar program to bridge skills gaps and support startups in key sectors such as Agri-Finance.
The regulator also advocated for stronger collaboration between the public and private sectors to develop robust, inclusive regulations and governance frameworks for the AI industry. Dr. Abdullahi emphasized that with the right regulatory approach, AI adoption can drive sustainable development, digital inclusion, and ethical innovation to benefit the economy.
The event featured insightful panel discussions on topics such as “Global AI Regulation: The Role of Africa and the Global South,” “Regulatory Frameworks for Digital Finance: Balancing Innovation and Security,” “Generative AI Applications for Education and Health in Africa,” and “Leveraging Biometric Technology for Enhanced KYC and Fraud Prevention in Africa.” Experts also explored practical applications of Generative AI in Nigeria’s financial services sector and across the continent.
Credit: Proshare
