Start-ups, tech firms show readiness to power Africa into global AI economy

…AI boom seen adding $1.2trn to Africa’s economy by 2030

Marrakech, Morocco Many leaders of African nations are currently sharing their visions on how they are driving digital economic transformation as many tech and start-up firms at the ongoing GITEX AFRICA 2024 in Marrakech, Morocco show readiness to power Africa into the booming global Artificial Intelligence (AI) economy.

Artificial Intelligence (AI) existential prospects and ability to leap-frog traditional barriers of economic development across African countries is dominating discussions at the ongoing GITEX AFRICA 2024.

This 2nd edition of GITEX AFRICA in the vibrant city of Marrakech brought together global leaders and experts, governments, businesses, big tech, start-ups, investors, and academia from 130 countries to catalyse partnerships and advance the future ambitions of a continent determined to elevate its entrepreneurial innovation economy.

As the continent’s largest comprehensive technology event, GITEX AFRICA 2024 also brought together technology giants, SMEs, start-ups, programmers to drive, collaborate and explore new ventures.

While seen catalysing a trans-continental tech rush across diverse industries, from cloud and IoT, cybersecurity, digital health, and future finance, to consumer tech, digital cities, and telecoms, tech leaders estimate the AI boom will add $1.2 trillion to Africa’s economy by 2030, thereby boosting the continent’s GDP by 5.6 percent.

According to PWC’s Global Artificial Intelligence Study: “Exploiting the AI Revolution”, AI could contribute up to $15.7 trillion to the global economy in 2030, more than the current output of China and India combined. Of this, $6.6 trillion is likely to come from increased productivity and $9.1 trillion is likely to come from consumption-side effects.

Africa’s meteoric rise as an emergent international force in digital transformation coupled with the epic AI opportunity sweeping the globe is propelling new era of public-private sector investment collaboration as the continent’s largest tech and start-up event opened on Wednesday May 29.

GITEX AFRICA is held under the authority of the Moroccan Ministry of Digital Transition and Administration Reform in partnership with the Digital Development Agency (ADD). The Africa’s blockbuster tech showpiece event is organised by KAOUN International, the overseas affiliate of Dubai World Trade Centre (DWTC), which organises GITEX GLOBAL in the UAE, the world’s largest and most trusted tech and start-up event.

The purpose-built mega venue in the heart of Marrakech for GITEX AFRICA 2024 spans 21 halls featuring 1,400 international exhibiting companies – a 70 percent year-on-year increase over the event’s record-breaking debut 2023.

This is the year of the AI phenomenon and it’s tantalising all-purpose capabilities to transform diverse sectors, from cybersecurity, cloud and IoT, to finance, telecoms, agriculture, and education, amplifying hopes of greater prosperity in the world’s second most populous continent.

AI’s impact on health tech has also spurred the launch of World Future Health Africa, accelerating the continent’s ascending digital health revolution.