Africa ranks lowest in AI investment as North America, Asia, Europe lead

.Usage highest in UAE, China, India, Singapore

Africa’s investment in Artificial Intelligence (AI) is still seen as infinitesimal and not yet ranked.

This is stated by the International Telecommunications Union (ITU) in its ‘AI for Good Impact Report: Choices to Shape the Future.’

According to the union, AI holds enticing prospects, promising to accelerate the speed and maximise the impact of sustainable growth and development worldwide.

ITU, the United Nations arm in charge of global communications, noted that with its unprecedented capacity for streamlining processes, monitoring trends, anticipating less-than-obvious results, and helping make better decisions, AI can improve public services, enhance climate and disaster resilience, and even cut greenhouse gas (GHG) emissions.

With policies and governance framework, the telecoms body noted that countries could work together to ensure the benefits of AI reach everyone, leaving no one behind.

It observed that AI investments were most concentrated in North America, Asia, and Europe, with the U.S., China, and the UK, being the top investors in the field.

ITU added that usage skewed more towards the Middle East and Asia, with the United Arab Emirates, China, India, and Singapore leading the world in active AI deployment.

ITU observed that many countries are hoping to hop aboard the AI train struggle with incompatible regulations, lack of technical talent and difficulty managing AI’s risks, including the prolific spread of misinformation.

According to it, scaling up AI initiatives requires trust, workforce adaptation and tangible results.

The UN body disclosed that the world’s first comprehensive AI regulation, the EU AI Act, which took effect on August 1, focused on classifying risks and ensuring ethical AI deployment.

It noted that global AI market revenue looks set to surpass $2 trillion by 2031, with the compound yearly growth rate projected at 19 per cent over the next decade.