Technology experts at the Africa Tech Alliance Forum held in Lagos have highlighted the transformative potential of blockchain and AI in positioning Nigeria and other parts of the region as global technology leaders.
The Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, in his keynote address, titled “Blockchain Technology & AI: Positioning Africa for the Future,” emphasised Africa’s unique position to leverage these technologies for economic and social development.
At the event held at the weekend, Abdullahi noted that with mobile penetration at about 80 per cent and a rapidly growing youth population, Africa was fertile ground for digital transformation, noting that Blockchain and AI would offer unparalleled opportunities to propel Africa into the future as a leader in the global digital economy.
“Both blockchain and artificial intelligence are powerful technologies that offer Africa unprecedented opportunities. By strategically integrating these technologies.
In his presentation, titled: “Navigating the Future of Technology in Africa: The Intersection of AI, Blockchain, Cryptocurrency and Cybersecurity”, the Chief Visionary Officer, Digital Encode Limited, Dr Obadare Peter Adewale, examined adoption trends, industry impact, and the key challenges across these technologies.
Taking an overview of Emerging Technologies in Africa, Obadare, who was represented by the CISO and Group Head of Information Security at Digital Encode Limited, Oluwakayode Olatunji, stated that Africa’s digital transformation was accelerating in key sectors like fintech, healthtech, and agritech that are adopting cutting-edge technologies such as AI, blockchain, and cryptocurrencies.
According to him, whereas mobile penetration, cloud computing, and increasing internet access are driving the growth of these technologies, the innovations come with risks and threats associated with cyberattacks, fraud, and data breaches. He cautioned that a robust cybersecurity framework was crucial for sustainable digital transformation.
On his part, the Regional General Manager, QNET Sub-Saharan Africa, Biram Fall, said with over 350 million unbanked adults, there was a significant potential for financial inclusion and digital solutions for Africa, and a vast opportunity to expand access to financial security, event through electronic commerce (eCommerce).
Speaking as a lead presenter at the event, Fall stated that financial inclusion would transform lives by providing essential financial tools like savings accounts, credit, and insurance, fostering economic independence.
