Nigeria Launches AI Fund Backed by Google to Tackle Development Challenges

September 14, 2024
Nigeria Launches AI Fund Backed by Google to Tackle Development Challenges
  • The initiative was announced by Nigeria's digital economy minister, Bosun Tijani, who emphasized the importance of advancing AI in the nation.

  • Some Nigerian startups, like Clafiya, are already adopting AI technologies, such as implementing an AI-enabled WhatsApp chatbot for healthcare consultations.

  • As part of the initiative, ten startups will receive 10 million naira (approximately $6,000) each in equity-free funding.

  • This fund was introduced at a conference co-organized by the US State Department, aimed at supporting early-stage entrepreneurs focused on AI solutions.

  • A significant aspect of the plan includes training three million tech specialists to strengthen Nigeria's tech workforce.

  • The strategy aims to harness future technologies for local innovation, addressing specific challenges faced by Nigeria.

  • There is a notable rise in AI interest across Africa, with many governments beginning to formulate national strategies in response to external funding opportunities.

  • Additionally, a draft of Nigeria's national AI strategy was recently published, developed over a year in collaboration with Nigerian AI researchers.

  • Nigerian officials have launched a new investment fund for artificial intelligence, backed by Google, with the goal of stimulating interest in AI applications to tackle the country's development challenges.

  • Despite this optimism, challenges remain, as most African countries, including Nigeria, rank low on the International Monetary Fund's AI Preparedness Index, with Nigeria scoring only 34%.

  • Critics argue that the government should prioritize education and basic infrastructure over AI initiatives, highlighting a disconnect between technological advancement and the needs of underserved populations.

  • Optimism surrounding AI in Nigeria is bolstered by the historical success of digital technology in enhancing productivity, particularly in telecom and internet access since the early 2000s.

Summary based on 2 sources


Get a daily email with more AI stories

Sources


More Stories