Nigeria risks missing AI revolution without urgent action – World Bank

Nigeria and other developing nations face the risk of being left behind by the artificial intelligence revolution unless they rapidly embrace and adapt the technology to their specific contexts, according to Indermit Gill, the World Bank Group's Chief Economist and Senior Vice-President for Development Economics.

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There is a danger that countries like Nigeria, countries like India and others will miss this industrial revolution.

Delivering a keynote address at the 7th Africa Emerging Markets Forum in Abuja, Gill urged governments not to let anxieties about AI-driven job losses in developed economies influence policies in countries like Nigeria. He drew a parallel to the Industrial Revolution, warning that missing this technological shift could leave nations behind for centuries.

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You have to remember… what happened when we missed the Industrial Revolution? You ended up being behind for 200 years. You can’t miss this.

Gill argued that AI presents more opportunities than risks for developing countries, as it is more likely to augment human capabilities than replace workers. He highlighted that AI is evolving rapidly and is highly context-specific, emphasizing the importance of adaptation over simply adopting foreign technologies or attempting to develop cutting-edge AI models. The highest returns, he noted, are in back-end predictive AI, which can significantly enhance agriculture, healthcare, education, and judicial services.

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The highest returns are actually in back-end predictive AI.

Contrary to widespread fears of mass unemployment, Gill stated that only about 10 percent of jobs in poorer economies are likely to be negatively impacted by AI, compared to 30-40 percent in advanced economies. World Bank research also indicates that firms of all sizes in developing countries are increasingly capable of adopting AI technologies. He advised governments to prioritize predictive AI, invest in digital infrastructure and skills, and foster interoperability between AI systems, suggesting this is a more practical strategy than trying to compete directly with AI powerhouses like the U.S. and China.

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No country has enough money to compete with the US and China.