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Artificial Intelligence (AI) Is Changing The Way Businesses Operate In Africa
Southern African Development Community (SADC) region part of the artificial intelligence revolution
Nomazulu Moyo
JOHANNESBURG, South Africa – Africa and Southern Africa in particular have not been spared by the artificial intelligence (AI) revolution that is currently sweeping across the world.
By definition, artificial intelligence is the use of machines and software to perform tasks that normally require human intelligence, such as learning, reasoning, and decision-making.
And Africa seems to be inching towards the front seat of this revolution with businesses in the region improving efficiency, productivity, innovation, and customer satisfaction.
Artificial intelligence will be the key element of the Southern African Industrial Forum
One of the upcoming events that will showcase the potential of artificial intelligence for business in Africa is the Southern African Industrialisation Forum, which will take place on 26 and 27 February 2024 at the Sandton Hotel in Johannesburg, South Africa.
The forum, convened by the SADC Business Council, will bring together top government and business leaders to discuss industrial priorities and investment opportunities focused largely on Angola, with the theme “Human and Financial Capital: The Key Drivers for Sustainable Industrialisation in the SADC Region”.
Artificial intelligence to play key role in different economic sectors
It will cover topics such as human capital development, trade and investment facilitation, infrastructure development, and targeted high-potential sectors like automotive, pharmaceuticals, tourism, renewable energy and transport and logistics.
Artificial intelligence will play a key role in enhancing these sectors, as it can help businesses optimise processes, reduce costs, increase quality, and create new products and services.
Drive innovation with AI & Machine Learning
Among the businesspeople who will attend the forum and share their insights on how artificial intelligence is transforming their industries is Nick Williams, the Manager at the Industrial and Trade Development Department of the African Development Bank, one of the leading institutions that supports industrialisation and AI initiatives in Africa.
Williams said, “The SADC region has great potential when it comes to industrialisation”.
“The African Development Bank has significantly increased its own financing to industrialise Africa and leverage additional resources from financial partners.
“We strongly believe that partnering with governments, the private sector, regional organisations and other development partners is the key to addressing the major bottlenecks in industrialisation for a more prosperous Africa.”
Marnus Broodryk, the founder and CEO of The Beancounter and sme.africa, two successful accounting and consulting firms that use artificial intelligence to help SMEs grow their businesses.
“Artificial intelligence is a game changer”
Broodryk, who became a self-made millionaire at 24, said, “Artificial intelligence is a game-changer for SMEs in Africa”.
“It can help them automate tasks, analyse data, generate insights, and access new markets. AI can also help SMEs overcome some of the challenges they face, such as lack of skills, funding, and infrastructure.”
Infrastructure development is key in Africa’s Agenda 2063, Zimbabwean Infrastructure expert says Sisa Ngebulana, the founder and executive chairperson of Billion Group and Rebosis Property Fund, two of the largest property development and investment companies in South Africa will also be part of the event.
Ngebulana, who built his property empire brick by brick through perseverance, said, “Artificial intelligence is a powerful tool for the property sector in Africa. It can help us design, construct, manage, and market our properties more efficiently and effectively.
AI can also help us create smart and sustainable buildings that meet the needs and expectations of our customers and stakeholders,” Ngebulana said.
The Southern African Industrialisation Forum is expected to produce investment commitments and commercial partnerships for Angola and beyond, as well as foster dialogue and collaboration among the key players in the SADC region.
Artificial intelligence will be one of the main drivers of industrialisation, trade and investment in the region, as it can help businesses create value, solve problems, and seize opportunities. – With Africa News 24
