Abuja: The world, no doubt, is increasingly becoming Artificial Intelligence (AI)-driven, with all sectors integrating AI to enhance efficiency. At the recently concluded 2025 Annual Meetings of the International Monetary Fund (IMF)/World Bank Group, Artificial Intelligence (AI) was a central topic as officials acknowledged its potential for significant global productivity growth.
According to News Agency of Nigeria, the IMF presented new analyses on AI’s economic impact and a country-readiness index, while also focusing on the technology’s implications for financial stability and jobs. Stakeholders, nonetheless, warn of the risks it poses, including exacerbating inequality and creating market instability. The Managing Director of the IMF, Kristalina Georgieva, emphasized that advancements in AI offered substantial benefits, describing AI as a technological revolution capable of jumpstarting productivity, boosting global growth, and raising incomes worldwide. However, Georgieva cautioned about potential job displacement and deepening inequality, noting that regulatory and ethical foundations are lacking across many countries.
Georgieva highlighted the dominance of advanced economies, particularly the U.S., in this technological revolution, while developing countries lag in readiness, widening the gap between them and advanced economies. She urged developing nations to expand digital infrastructure and skills as a prerequisite for success. Meanwhile, Ajay Banga, President of the World Bank, expressed uncertainty about AI’s role in accelerating digitization in developing countries, despite Africa’s efforts to leverage AI in sectors like fintech and agriculture.
Driss Bengeloune, a digital innovation manager at MTN Benin, compared AI’s potential in Africa to the mobile money revolution, stressing the necessity-driven innovation in the continent. He acknowledged infrastructure and data challenges but noted significant investments in AI by African governments, universities, and private sectors. Franck Ki©, founder of the Cyber Africa Forum, remained optimistic about Africa’s progress in digital transformation, citing improvements in electricity access, human capital training, and infrastructure investment.
Tony Elumelu, Chairman of UBA Group, emphasized AI’s potential to revolutionize sectors such as healthcare, education, and agriculture in Africa, provided inclusive systems, access to capital, and digital skills are prioritized. He stressed that Africa’s digital transformation must focus on people, noting the continent’s youthful, creative population as a valuable asset.
Kashifu Abdullahi, Director-General of Nigeria’s National Information Technology Development Agency (NITDA), outlined Nigeria’s strategic positioning in leading Africa’s digital transformation through AI adoption, renewable energy, and technological innovation. Abdullahi highlighted the establishment of the National Centre for Artificial Intelligence and Robotics and a National AI Strategy aimed at building sustainable, responsible, and inclusive AI systems. He detailed NITDA’s efforts to bridge the digital divide through the creation of over 220 Digital Economy Centres across Nigeria since 2023.
As the AI revolution continues globally, stakeholders are urging Nigerian authorities to rise to the challenge and lead digital transformation efforts within Africa.