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Nigeria risks missing AI revolution, World Bank economist warns

From The Punch · () English

Summarized and contextualized by DistantNews.

At a glance

News Official statement Context piece
  • Nigeria and other developing nations risk being left behind by the artificial intelligence revolution if they do not adapt the technology to local needs, warns a World Bank economist.
  • The World Bank's Chief Economist cautioned against letting fears of job losses in advanced economies dictate policy, emphasizing AI's potential to complement workers in developing countries.
  • To capitalize on AI, Nigeria should prioritize predictive AI, invest in digital infrastructure and skills, and promote interoperability, rather than trying to compete with tech giants.

Nigeria and other developing countries face the risk of missing out on the artificial intelligence revolution unless they urgently adopt and adapt AI technologies to their specific local contexts, according to Indermit Gill, the World Bank Group’s Chief Economist and Senior Vice-President for Development Economics.

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

— Indermit GillWorld Bank Chief Economist warning about the consequences of not adopting AI.

Speaking at the 7th Africa Emerging Markets Forum in Abuja, Gill cautioned governments against allowing anxieties about job displacement, prevalent in advanced economies, to shape policies. He drew a stark historical parallel, warning that missing this industrial revolution could leave countries behind for centuries, similar to the impact of missing the original Industrial Revolution.

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.

— Indermit GillDrawing a historical parallel to emphasize the importance of embracing the AI revolution.

Gill argued that AI presents more opportunities than risks for developing nations, as it is more likely to augment human capabilities than replace workers. He highlighted that AI's rapid evolution and context-specific nature make adaptation crucial. The highest returns, he noted, are in back-end predictive AI, which can significantly enhance sectors like agriculture, healthcare, education, and judicial services.

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

— Indermit GillHighlighting the specific area of AI that offers the most benefit for developing economies.

Contrary to widespread fears, Gill stated that only about 10 percent of jobs in poorer economies are likely to be negatively affected by AI, compared to 30-40 percent in advanced economies. He also dismissed concerns about small businesses being excluded, citing World Bank research indicating their growing capacity to adopt AI. Gill urged governments to focus on predictive AI, invest in digital infrastructure and skills, foster interoperability between AI systems, and support industry-led standards over solely relying on regulation. He stressed that competing directly with tech giants like the U.S. and China is impractical, making interoperability a more viable strategy for countries like Nigeria.

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

— Indermit GillExplaining why interoperability is a more practical strategy for developing nations than direct competition.
DistantNews Editorial

Originally published by The Punch. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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