How we can harness AI for economic growth and digital transformation

On 30 October 2024, I will address policymakers, business leaders and international investors at the annual FT Africa Summit in London on strategies for advancing artificial intelligence (AI) and technology in Africa.

Consequently, I’ve been exploring the transformative potential of AI in key African markets, and Ghana stands out as a prime candidate for AI-driven growth.

With its robust commitment to technology development and digital transformation, Ghana is uniquely positioned to leverage AI for digital transformation, economic growth, and job creation.

AI as a catalyst for Ghana’s digital economy

Ghana, known for its political stability, vibrant youth population, and rising tech ecosystem, has the potential to become a regional leader in AI development. The country’s focus on building a digital economy—through initiatives such as the Ghana Digital Acceleration Program and Digital Ghana Agenda—potentially sets the foundation for AI integration across key sectors.

Although Ghana’s AI ecosystem is still in its nascent stages, the opportunity for leapfrogging traditional development paths is immense. By integrating AI across key sectors such as agriculture, healthcare, and finance, Ghana can enhance economic productivity, promote inclusive growth, and secure its place in the global digital economy.

Creating an AI-Driven ecosystem in Ghana

For Ghana to fully realize its AI potential, a holistic and collaborative ecosystem must be developed. The government has already taken steps in this direction through various policies and partnerships, but sustained investment in infrastructure is critical.

High-speed internet, cloud computing infrastructure, and data centers are necessary to power AI applications. The government’s efforts to expand broadband penetration through the Ghana Investment Fund for Electronic Communications (GIFEC) are a promising start, but further investment is needed, particularly in rural and semi-urban areas.

Developing human capital is also essential for Ghana’s advancement in AI. With a young, tech-savvy population, educational institutions must rapidly incorporate AI, machine learning, and data science into their programs.

Collaborations with technology companies can facilitate practical training, enhancing the transfer of knowledge necessary for fostering AI innovation. Such initiatives can equip the workforce with the skills required to thrive in an AI-driven economy, ultimately boosting Ghana’s competitive edge in the global tech landscape.

Fostering AI in key sectors

Ghana’s most immediate opportunities for AI adoption lie in sectors critical to its economic development. In agriculture, AI can help farmers optimize crop yields through predictive analytics, combat climate change’s effects, and improve supply chain efficiency. mPharma, a Ghanaian healthcare startup, is already using AI to improve access to medicines across Africa.

Expanding such innovations across Ghana’s healthcare sector could transform diagnostics, enhance patient care, and reduce the burden on the country’s overstretched medical workforce. Financial inclusion is another area where AI can make a significant impact. By using AI to enhance mobile banking and fraud detection, financial institutions can extend services to unbanked and underserved populations, driving inclusive economic growth.

Ghana’s emerging AI policy framework

While the government is taking steps to support digital innovation, Ghana still lacks a comprehensive regulatory framework specifically designed for AI. However, recent developments are promising. The Ministry of Communications and Digitalisation, in collaboration with the National Information Technology Agency (NITA), is working on expanding its regulatory oversight to include AI, ensuring that AI development is both ethical and inclusive.

One noteworthy initiative is the Ghana Digital Economy Policy, which, while not solely focused on AI, lays a foundational framework for the use of digital technologies, including AI, in driving economic transformation. Additionally, the launch of the Artificial Intelligence for Good (AI4G) Ghana initiative, spearheaded by local stakeholders and international partners, aims to explore AI’s potential to address local challenges, particularly in education and healthcare.

Moreover, public-private partnerships will play a crucial role in bridging the gap between policymakers, the private sector, and educational institutions, ensuring that AI innovations align with Ghana’s national interests. Such collaboration can help secure foreign investment, stimulate local startups, and create new job opportunities, driving the growth of Ghana’s AI ecosystem.

Addressing concerns around AI

Despite advancements, AI is often viewed with trepidation, particularly concerning its potential impact on employment. It is an understandable fear in a country like Ghana, where the unemployment rate remains high, and where AI could potentially replace human roles in some sectors. Concerns around data privacy, AI bias, and cybersecurity further fuel the unease.

However, many now recognize that while AI may eliminate certain jobs, it also creates new opportunities, especially in tech-driven sectors. Many companies are focusing on reskilling programs to prepare workers for the jobs of the future, ensuring they remain competitive in an AI-driven economy.

The road ahead for Ghana

Ghana is poised to harness AI as a pivotal driver of its digital economy, but this will require sustained commitment from both the public and private sectors. By investing in infrastructure, developing human capital, and crafting robust regulatory frameworks, Ghana can become a regional leader in AI innovation in West Africa and beyond.

>>>the writer is an African Technology Business Expert and Member, Forbes Technology Council. Opinions expressed do not necessarily reflect those of the organisations with which Kyerematen-Jimoh is involved