Business proprietors have been challenged to invest more in Artificial Intelligence (AI) to cut costs.
Speaking on the sidelines of the 8th edition of the Thought Leaders’ Forum in Kampala, the keynote speaker, Mr Nyimpini Mabunda said that Artificially Intelligence systems are benefitting businesses across the globe, and that though there ethical questions about regulation and intrusion into private and professional lives, AI is the way forward especially for Africa.
He says regardless of the infrastructural challenges on the continent with about 500 million people off the power grid, it is time for companies to invest and leverage possibilities with AI.
“The cost of doing business is going up everywhere… if we don’t act now, we are actually going to be left behind. Acting now may help us solve a lot of problems in our continent. I think that used correctly in partnership with the public sector, AI can be an advantage for our continent,” he said.
“If not controlled, AI can cause a lot of harm especially in terms of fake news and data theft because it does not know what is morally right and wrong and this could lead to legal consequences,” he added.
The dialogue organized by the Nation Media Group – Uganda (NMG-U) has this year has been held under the theme, ‘’The impact and disruptions of artificial intelligence in Africa; is AI a friend, or a foe?”
Other partners include the National Social Security Fund (NSSF), DFCU Bank, Uganda Breweries Limited (UBL), NCBA Bank, and the Uganda Airlines.