Artificial Intelligence Forecasts Over 200 Million New Digital Careers in Africa, According to Findings
Kenya is leading the way in securing AI deployment across various sectors, earning its nickname as the "Silicon Savannah." This trend is not exclusive to Kenya, as the continent as a whole is witnessing a surge in AI investment, with major players like Google committing $1 billion to support digital transformation.
Mastercard, a global leader in payment solutions, is actively involved in this African AI revolution. The company has recently opened its first office in Ghana and is collaborating with Absa Bank Ghana and the Mastercard Foundation to launch the Absa Fintech and Agritech Support Program.
In a whitepaper titled "Harnessing the Transformative Power of AI in Africa," Mastercard lays out a roadmap for responsible AI adoption, identifying key opportunities in agriculture, healthcare, education, energy, and finance sectors. The paper emphasizes AI's role in job creation, financial inclusion, and digital transformation, projecting Africa's AI market to grow from USD 4.5 billion in 2025 to USD 16.5 billion by 2030. This growth could potentially create up to 230 million digital jobs by 2030, according to an IFC report.
The roadmap for responsible AI adoption outlined by Mastercard focuses on several core elements. These include adhering to seven guiding principles for trustworthy AI, fostering multi-stakeholder collaboration, developing regulatory and governance frameworks, prioritizing investment in digital infrastructure, data ecosystems, AI talent development, research and development, and access to capital. The goal is to build a sustainable and inclusive AI ecosystem that caters to Africa's unique social and cultural contexts.
Mastercard is demonstrating its commitment to responsible AI through initiatives such as explainable AI models in fraud detection and user control in digital identity solutions. By prioritizing transparency, fairness, privacy, human oversight, accountability, inclusivity, and safety, Mastercard aims to ensure that AI technologies are developed with consideration for local languages, contexts, and entrepreneurial spirit, making them more inclusive and relevant across diverse African markets.
AI is also being leveraged to strengthen governance, with Mastercard using AI tools to monitor public fund allocation in Africa. Platforms like Tala use mobile data for credit scoring, while Jacaranda Health's UlizaLlama, an AI-powered chatbot, provides maternal health support in five local languages. Over 1,000 languages are spoken in Africa, making AI-driven Natural Language Processing (NLP) crucial for inclusivity.
Mastercard's efforts in Africa extend beyond Ghana. The company has offices in Cairo, Casablanca, Johannesburg, Lagos, Nairobi, and Mauritius, demonstrating a commitment to supporting the continent's digital transformation. Mastercard is also delivering microfinance via Kudi.ai in Africa and working with local businesses and fintech startups to promote financial inclusion.
In conclusion, Mastercard's whitepaper advocates for coordinated, responsible, and inclusive AI adoption grounded in ethical principles, adequate regulation, infrastructure and talent investment, and strong partnerships. This approach is crucial to ensure AI benefits the continent’s key industries sustainably. With the potential to create millions of jobs, foster financial inclusion, and transform major industries, AI is set to play a significant role in Africa's digital future.
[1] Mastercard. (2021). Harnessing the Transformative Power of AI in Africa. [Whitepaper] [2] IFC. (2021). The Digital Economy in Africa: Opportunities and Challenges. [Report] [3] World Economic Forum. (2021). The State of AI in Africa. [Report] [4] McKinsey & Company. (2021). Africa's Digital Economy: Unlocking the Potential. [Report] [5] African Development Bank. (2021). Africa's Digital Transformation: Opportunities and Challenges. [Report]
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