UN tells Africa borrow, boost revenue, to fund AI push *…
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UN tells Africa borrow, boost revenue, to fund AI push
* African nations should borrow, boost domestic revenue and tap its pension and sovereign wealth funds to develop the crucial infrastructure required to benefit from an AI boom.
* The continent's more than 50 countries are at risk of missing out on AI-boosted economic modernisation due to lack of infrastructure, the report said.
* Less than 1% of the world's data centres are based in Africa, which poses "an economic and sovereignty challenge," the report said.
* "Strategic investments in data infrastructure and energy generation can reinforce each other by enabling digital industries while supporting electricity demand and reliability," the UN commission said.
* "public budgets alone will not suffice," and that governments must strengthen domestic tax collection and tap financial markets, pension funds, sovereign wealth funds and blended finance.
* Governments should also prioritise skills training and fully implement the pan-African free trade area (AfCFTA) to complement a technology investment drive.
* AI adoption, along with digital platforms and robotic production systems, could help the continent diversify its reliance on commodity exports and sell more finished, high-value products.
* 'Today, competitiveness increasingly depends on a country’s capacity to generate, govern, and apply data and frontier technologies," the UN commission said.
* Tapping technology could also help African countries use more of their own abundant critical mineral deposits to produce batteries, processors and other manufactured goods, rather than simply exporting them.
#local
* African nations should borrow, boost domestic revenue and tap its pension and sovereign wealth funds to develop the crucial infrastructure required to benefit from an AI boom.
* The continent's more than 50 countries are at risk of missing out on AI-boosted economic modernisation due to lack of infrastructure, the report said.
* Less than 1% of the world's data centres are based in Africa, which poses "an economic and sovereignty challenge," the report said.
* "Strategic investments in data infrastructure and energy generation can reinforce each other by enabling digital industries while supporting electricity demand and reliability," the UN commission said.
* "public budgets alone will not suffice," and that governments must strengthen domestic tax collection and tap financial markets, pension funds, sovereign wealth funds and blended finance.
* Governments should also prioritise skills training and fully implement the pan-African free trade area (AfCFTA) to complement a technology investment drive.
* AI adoption, along with digital platforms and robotic production systems, could help the continent diversify its reliance on commodity exports and sell more finished, high-value products.
* 'Today, competitiveness increasingly depends on a country’s capacity to generate, govern, and apply data and frontier technologies," the UN commission said.
* Tapping technology could also help African countries use more of their own abundant critical mineral deposits to produce batteries, processors and other manufactured goods, rather than simply exporting them.
#local
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