Business

Nigeria to earn $157bn from AI by 2030

DSN trains 5,000 talents

Nigeria’s economy has been projected to earn at least $157 billion from Artificial Intelligence (AI) going by the growing impacts of the technology on global economies. This, according to the founder of Data Science Network, Dr. Bayo Adekanmbi, represents one per cent of the $15.7 trillion projected by PwC as the contribution of AI to the global economy by 2030. Speaking at an event to commemorate the five years of Data Science Network, Adekanmbi said Africa would be getting, at least, four per cent of the total amount, while Nigeria would get one per cent.

To position Nigeria for these economic benefits, he said DSN had trained 5,000 AI talents in the last five years, while its mission is to raise one million AI talents in Africa and prepare them for the future of work. While noting that the impacts of AI on the economy could not be measured through the Information and Communications Technology (ICT) alone, as it cuts across all sectors, the DSN founder said: “You can increase productivity in agriculture and other areas, services and industry through AI. When AI is applied, its contribution is beyond the ICT because of its ability to increase economic output in all areas of services.”

On the occasion of the fifth anniversary of the organisation, he said the DSN, which was initially known as Data Science Nigeria, had metamorphosed into Data Science Network to reflect the global expansion of the organisation. Highlighting the achievements of the organisation, he said: In the past five years, DSN’s work has won academic and social impact awards across the world and has been showcased as a best practice in delivering scalable learning, research, and social good solution development.

“The work of DSN has reached over 500,000 online and offline learners, coupled with high-impact research papers which have been showcased at the world’s leading AI conferences. One of DSN’s papers on the use of AI to address financial inclusion was the best poster at the 21st edition of the ACM Conference on Economics and Computation (EC’ 20), the world’s premier conference on the interface of economics and computer science, organized by the Association for Computing Machinery, New York, United States.

”He added that DSN has designed an inclusive learning model through its unique offline learning platform of over 20,000 AI learning videos containing publicly available content from top international universities- curated in external drive and distributed freely across Nigeria to address the challenge of poor internet. In addition, it published the first Artificial Intelligence book for kids in Africa, which is currently being distributed free through the train-the-teachers; program to support massive adoption of digital skills across African schools.

“As DSN marks its fifth anniversary, it is taking on a dual business model where it monetizes its research work for the sustainability of its non-profit efforts. “Its new extension, DSN AI Innovation Limited, will operate in Nigeria and the United Kingdom and focus on advanced AI solutions development and deployment in the eras of Fintech, EdTech, and MedTech. “DSN’s consulting and training practice will also be driven through an expanded network of local and international partners and independent consultants, as the business welcomes expert partners to support its delivery in a shared value business construct,” he said.

 

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