Africa is gradually emerging as a leader in AI innovation, as the world begins to embrace this transformative technology that promises to elevate humanity to new heights of creativity and technological achievement.
The global AI market is projected to reach $1,339 billion by 2030, a significant increase from the estimated $214 billion in revenue for 2024, according to Forbes. Currently, there are 57,933 AI companies worldwide, with the United States accounting for 25% of these firms. AI solutions are valued at an impressive $154 billion, and 35% of global businesses now utilise AI in some capacity.
In Africa, AI was once seen as a futuristic concept, somewhat removed from everyday life. However, today artificial intelligence is no longer confined to computer enthusiasts; it is becoming increasingly prevalent. AI is beginning to make its mark on African businesses, evident in the widespread use of voice assistants, recommendation algorithms, and technologies such as ChatGPT and DALLE.
According to the Centre for Intellectual Property and Information Technology Law, 40% of the 2,400 AI businesses on the continent are startups. The number of AI-driven enterprises and initiatives aimed at providing solutions both locally and globally has seen significant growth, particularly in South Africa, the continent’s largest economy.
Investors are taking notice of Africa’s potential, and with innovation hubs emerging in countries such as Egypt, Kenya, and Nigeria, the landscape is evolving rapidly. GITEX, the world’s largest technology exhibition, made its debut in Africa in May 2023, launching in Marrakech, Morocco, to attract investor interest in the Maghreb region. GITEX plans to visit Nigeria in 2025 to explore the potential of the continent’s largest startup ecosystem, bolstered by the support of the Dubai World Trade Centre.
AI is becoming a major force in Africa, unlocking numerous opportunities for innovation. With a growing pool of skilled developers, favourable government policies, and increasing investment, Africa is well-positioned to become a global leader in artificial intelligence. The future of AI is bright, and Africa is at the forefront of this exciting new era.
