Lagos Government To Leverage AI for Economic Growth

The Lagos State Government has announced plans to strengthen its position as Africa’s leading tech hub by intensifying efforts to harness artificial intelligence (AI) for economic growth and development.

Folashade Medebem, Lagos State Commissioner for Commerce, Cooperatives, Trade, and Investment, made this statement Thursday during a panel session at the Art of Technology 6.0 Lagos Conference.

The commissioner noted that the state had several tech hubs, including the Lagos Innovates Programme, which had incubated over 200 startups.

She emphasised the importance of lifelong learning in driving the technology sector’s growth.

Medebem noted that many countries were adopting a four-day work week and that Lagos State should not be left behind.

Similarly, Olugbolahan Olusanya, Africa Sales and Growth Director, TeKnowledge, said the adoption of AI had surged, adding that Lagos was poised to harness its potential to drive economic growth, create new job opportunities, and unlock new revenue streams.

He noted that AI would introduce new things in various sectors, including financial services, government, cybersecurity, health, agriculture, and education.

Olusanya cited examples of AI-driven solutions, such as chatbots and AI-powered call centres, which were already improving customer experience in financial services.

“In Lagos, AI is expected to contribute significantly to the economy, with the city having the largest talent pool in Nigeria and a vibrant tech ecosystem.

“We need to prepare the infrastructure and workforce for the future of AI to ensure that Lagos is not left behind in the AI revolution,” he said.

Quoting a recent report, he said the global market size for AI was projected to reach 184 billion dollars by 2025, with AI expected to contribute 15.7 trillion dollars to the global economy by 2030.

Olusanya stressed the importance of addressing ethical considerations, data privacy concerns, and the need to reskill and upskill the workforce for the future of AI.

He also emphasised the need for public-private partnerships to drive AI adoption and development in Lagos.

Mr Bunmi Akinyemiju, co-founder of Venture Garden Group, said that Lagos State had demonstrated an impressive rise in the number of startups.

“The state secured over 400 million dollars in investments in 2023 alone.

“I want to emphasise the importance of knowledge in driving the growth of the technology sector, particularly in the area of AI.

“AI has the potential to democratise access to knowledge and skills, and Lagos State should take the lead in promoting AI education and training,” Akinyemiju said.

Sade Dada, Head of Public Policy, Anglophone West Africa, Meta, said that appropriate policies could help with education.

She noted that it was extremely key to create a way to include technological skills training in the educational system.

Dada said that prioritising and promoting open-source technology was also important, as it would enable developers to train and create solutions on existing language models.

“Meta has opened up its large English models, called Llama, to enable different developers to train and create solutions on top of the language model and fine-tune it,” she said.

The Meta representative emphasised the importance of responsible use of AI technology and encouraged policymakers, educators, entrepreneurs, and innovators to work together to create a Lagos where technology transformed lives.

She stressed the need for participation in events and initiatives that promoted AI education and training, such as hackathons and conferences.

Dada noted that Meta recently held its first-gen AI forum for Africa, the Middle East, and Turkey, adding that Lagos had been well represented.

 

 

 

NAN