Olatomiwa Williams, CEO of Microsoft Nigeria and Ghana, emphasized the importance of adopting artificial intelligence (AI) to drive Nigeria’s economic growth and development.
Speaking at the Chartered Institute of Directors (CIoD) new members induction ceremony in Lagos, Williams highlighted the potential of AI to unlock new opportunities, drive innovation, and improve the quality of life for Nigerians.
Williams cited a projection that AI could expand Africa’s economy by 50% of its current gross domestic product by 2030 if the continent captures just 10% of the global AI market.
She also noted that AI spending in the Middle East and Africa is expected to reach $3 billion in 2024 and $6 billion by 2026.
Williams explained that AI, as a general-purpose technology, can transform every part of the economy by enhancing human productivity.
“It can be seen as a strategic boardroom tool, allowing leaders to reinvest more time in their people, strategy, and innovative activities. In governance, Al can help organisations achieve higher standards of governance by enabling more transparency, accountability, and stakeholder engagement as it enhances policymaking, service delivery, operations, and ethical governance,” she said.
However, Williams acknowledged the complex questions surrounding AI’s safe use, reliability, and privacy concerns.
To address this, she urged organizations to adopt guiding principles that support the responsible and trusted use of AI, including r
airness, reliability, inclusiveness, privacy, transparency, accountability
airness, reliability, inclusiveness, privacy, transparency, accountabilityWilliams also called for the incorporation of AI and innovative thinking in governance and leadership across all organizations and sectors of the economy.
She emphasized AI’s potential to enhance policymaking, service delivery, operations, and ethical governance, ultimately leading to higher standards of governance.
