FNB: Why Africa should have its own Artificial Intelligence identity

Artificial intelligence (AI) has the potential to revolutionize Africa, but to fully harness its power, the continent must develop its own unique AI identity. Dr. Mark Nasila, Chief Analytics Officer of FNB Chief Risk Office, emphasized the importance of Africa establishing a clear strategy that aligns with its specific needs and challenges. In a CNBC Africa interview, Dr. Nasila discussed the crucial role of AI in modernizing Africa and addressing pressing issues such as poor educational outcomes, unequal access to healthcare, and high unemployment rates. He highlighted the disparity in AI development between China, America, and Africa, pointing out that without a proactive approach, Africa risks falling behind in the global AI economy. Dr. Nasila stressed the need for collaboration between businesses, governments, and academic institutions to support AI innovation and scale solutions that benefit the continent's economy and society. Banks like FNB are playing a pivotal role in financing and empowering AI startups to drive growth and innovation. By leveraging AI technologies effectively, Africa can propel itself towards a more sustainable and prosperous future.