Close Menu
  • Homepage
  • News
  • Cloud & AI
  • ECommerce
  • Entertainment
  • Finance
  • Opinion
  • Podcast
  • Contact

Subscribe to Updates

Get the latest technology news from TechFinancials News about FinTech, Tech, Business, Telecoms and Connected Life.

What's Hot

Ethereum Traders Increase Leverage On-Chain As HFDX Liquidity Hits New Highs

2026-01-31

New To On-Chain Perps? HFDX Is Rapidly Emerging As The Beginner-Friendly Option

2026-01-31

Standard Chartered GBA Business Confidence Indices reveal steady business sentiment

2026-01-31
Facebook X (Twitter) Instagram
Trending
  • Ethereum Traders Increase Leverage On-Chain As HFDX Liquidity Hits New Highs
Facebook X (Twitter) Instagram YouTube LinkedIn WhatsApp RSS
TechFinancials
  • Homepage
  • News
  • Cloud & AI
  • ECommerce
  • Entertainment
  • Finance
  • Opinion
  • Podcast
  • Contact
TechFinancials
Home»Opinion»Is Artificial Intelligence Relevant To All Industries and Countries
Opinion

Is Artificial Intelligence Relevant To All Industries and Countries

Michael ShapiroBy Michael Shapiro2021-04-23No Comments5 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email
AI
Michael Shapiro, Synthesis Managing Director
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Artificial Intelligence (AI) is here. And it is everywhere. Furthermore, if it hasn’t yet, it will touch every industry both present and future and is likely to change all aspects of our lives.

AI inspires enthusiasm and hope for a more efficient tomorrow and is a valuable differentiator. Its capacity to collect and analyse data, to provide insights, to recognise patterns, and to predict future behaviour has helped companies and countries to innovate. It can track how effectively the human moderators are fighting hate speech and gender abuse on Twitter, and how much progress we’ve made globally against the coronavirus.

AI is a panacea for all ills if you like. It has increasingly been harnessed to address a variety of issues, including the use of image recognition, speech detection and self-driving cars. The commercial applications also have indirect positive social impact by increasing the availability of information through better search tools, providing improved communication services, enabling more efficient transportation, or supporting more personalised healthcare.

Predictably, an AI adoption gap has emerged – on one end are the countries that have embraced AI tools, and on the other, those that have lagged. A PwC study of the economic impact of AI on the world’s economy by 2030, reports that AI has the capacity to increase global GDP by 14%. This makes it the biggest commercial opportunity in the global economy.

It stands to reason that Africa will reap significant economic rewards from AI but is Africa positioned to capitalise on the opportunities and ready itself for growth?

The 2020 Government AI Readiness Index paints a predictably gloomy picture for the African continent.  African countries score low on the AI readiness index. The five highest-ranked African country on the index are Mauritius in 45th position, followed by South Africa in 59th, with Seychelles 68th, Kenya 71st and Rwanda in 87th place.

It is certain that if we do not remain relevant and continue to drive digital adoption and innovation, we will be left behind. But progress comes with its own set of contentions. In a country with a high, and rising unemployment rate, the unsettling question is how industries can balance the introduction (or use) of AI, digitalisation and automation, while maintaining employment numbers.

In the short-term jobs will be considerably impacted however the benefits of automating simple tasks and dramatically improving our lives cannot be overlooked in the debate. We should also remember that every technological shift in years gone by has ended up creating more jobs than were initially destroyed. So history has taught us that while technology may gradually change the nature of some jobs, and the skills required to perform them, they have not been replaced altogether.

There is an imperative role for both the private sector and government in partnership to play in encouraging the adoption of AI. For example, there should be incentives to promote the use of AI to increase productivity without the loss of jobs. Success is seen when a strong public-private partnership is achieved.

Investment into building the infrastructure needed to support AI deployment at scale is required. As is the extensive and ongoing training to build the necessary skills for an AI workforce – and for jobs that don’t yet exist. Government support for universities and tax relief or innovation funding for entrepreneurial start-ups to develop AI that benefits local endeavours will fast track growth. And we need an uptick in these homegrown success stories.

Addressing the intricate challenges such as inconsistent policy, lack of legal infrastructure the need for appropriate regulatory and ethical frameworks will also help. It is encouraging to note that some of these issues are making an appearance on the national agenda and signs of developing strategies are coming to the fore.

There is also a socio-economic approach at play. We must drive an inclusive approach – every person needs to have an opportunity to participate in the AI economy. AI-based tech products should solve large-scale issues such as financial inclusion, access to education and credit for all and not just benefit certain income brackets.

While some African countries have been able to leapfrog, others are facing the persistent challenge of catching up. The pace of technological change waits for no man, woman, or in this case, no country. Strong AI adoption and investment today, can set the stage for even better performance in a post-pandemic world.

To end, a lot can be done today to overcome tomorrow’s challenges. Regional and continental support infrastructure is required to drive AI forward. Following the investments made to establish the local data centres in South Africa by cloud providers such as AWS and Microsoft, they should further invest in job creation and skills development to create a digital and AI hub in South Africa and for the rest of Africa. This will provide further support for homegrown success stories, such as Synthesis and Capital Appreciation who regularly host hackathons, support learnerships for disadvantaged youth. They too provide AI technology to organisations such as SA Harvest to create a food rescue and distribution platform aimed at ensuring that every South African has access to adequate nutritious food on a daily basis.

Finally, a road map for our country and our industry is required – we need to set targets and metrics for 2030 and beyond, to keep us on track to drive the change that we want to achieve.

  • Michael Shapiro is Synthesis Managing Director

AI Artificial intelligence
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Michael Shapiro

Related Posts

South Africa Could Unlock SME Growth By Exploiting AI’s Potential Through Corporate ESD Funds

2026-01-28

How Local Leaders Can Shift Their Trajectory In 2026

2026-01-23

Why Legal Businesses Must Lead Digital Transformation Rather Than Chase It

2026-01-23

Directing The Dual Workforce In The Age of AI Agents

2026-01-22

The Productivity Myth That’s Costing South Africa Talent

2026-01-21

The Boardroom Challenge: Governing AI, Data And Digital

2026-01-20

Ransomware: What It Is And Why It’s Your Problem

2026-01-19

AI Can Make The Dead Talk – Why This Doesn’t Comfort Us

2026-01-19

Can Taxpayers Lose By Challenging SARS?

2026-01-16
Leave A Reply Cancel Reply

DON'T MISS
Breaking News

Meet The €2.95M Capricorn 01 Zagato Hypercar Rebel

capricorn GROUP (capricorn), the German-based industry leader in automotive and motorsport lightweight technology, presented two…

SARB Holds Repo Rate Steady in Cautious Monetary Policy Decision

2026-01-29

Huawei Says The Next Wave Of Infrastructure Investment Must Include People, Not Only Platforms

2026-01-21

South Africa: Best Starting Point In Years, With 3 Clear Priorities Ahead

2026-01-12
Stay In Touch
  • Facebook
  • Twitter
  • YouTube
  • LinkedIn
OUR PICKS

How a Major Hotel Group Is Electrifying South Africa’s Travel

2026-01-29

Volvo C70: 30 Years Of The Car That Changed The Way Volvo Looked

2026-01-29

The EX60 Cross Country: Built For The “Go Anywhere” Attitude

2026-01-23

Mettus Launches Splendi App To Help Young South Africans Manage Their Credit Health

2026-01-22

Subscribe to Updates

Get the latest tech news from TechFinancials about telecoms, fintech and connected life.

About Us

TechFinancials delivers in-depth analysis of tech, digital revolution, fintech, e-commerce, digital banking and breaking tech news.

Facebook X (Twitter) Instagram YouTube LinkedIn WhatsApp Reddit RSS
Our Picks

Ethereum Traders Increase Leverage On-Chain As HFDX Liquidity Hits New Highs

2026-01-31

New To On-Chain Perps? HFDX Is Rapidly Emerging As The Beginner-Friendly Option

2026-01-31

Standard Chartered GBA Business Confidence Indices reveal steady business sentiment

2026-01-31
Recent Posts
  • Ethereum Traders Increase Leverage On-Chain As HFDX Liquidity Hits New Highs
  • New To On-Chain Perps? HFDX Is Rapidly Emerging As The Beginner-Friendly Option
  • Standard Chartered GBA Business Confidence Indices reveal steady business sentiment
  • AFF draws 4,000+ global political and business leaders, inaugural Global Business Summit
  • NSFW AI Chat with Advanced Memory Systems for Contextual Interaction Launches on Dream Companion
TechFinancials
RSS Facebook X (Twitter) LinkedIn YouTube WhatsApp
  • Homepage
  • Newsletter
  • Contact
  • Advertise
  • Privacy Policy
  • About
© 2026 TechFinancials. Designed by TFS Media. TechFinancials brings you trusted, around-the-clock news on African tech, crypto, and finance. Our goal is to keep you informed in this fast-moving digital world. Now, the serious part (please read this): Trading is Risky: Buying and selling things like cryptocurrencies and CFDs is very risky. Because of leverage, you can lose your money much faster than you might expect. We Are Not Advisors: We are a news website. We do not provide investment, legal, or financial advice. Our content is for information and education only. Do Your Own Research: Never rely on a single source. Always conduct your own research before making any financial decision. A link to another company is not our stamp of approval. You Are Responsible: Your investments are your own. You could lose some or all of your money. Past performance does not predict future results. In short: We report the news. You make the decisions, and you take the risks. Please be careful.

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.