{"id":16422,"date":"2023-04-26T19:39:49","date_gmt":"2023-04-26T19:39:49","guid":{"rendered":"https:\/\/www.africa-press.net\/eritrea\/?p=16422"},"modified":"2023-04-26T18:54:02","modified_gmt":"2023-04-26T18:54:02","slug":"tech-can-ease-africas-aid-dependency-survey","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eritrea\/all-news\/tech-can-ease-africas-aid-dependency-survey","title":{"rendered":"Tech can ease Africa’s aid dependency – survey"},"content":{"rendered":"

Africa-Press – Eritrea. <\/strong><\/span>Adoption of smart AI chatbots, such as ChatGPT, blockchain and open-source data are among top technology trends most likely to impact Africa\u2019s businesses in this decade, a new survey report now says.<\/p>\n

The survey conducted among business leaders across the continent by the pan-African re-insurer, Continental Re, says the adoption and development of tomorrow\u2019s technologies offers the continent the chance to reduce its reliance on aid for development.<\/p>\n

\u201cThis would make the continent become a strategic partner to the rest of the world,\u201d the firm says.<\/p>\n

It adds that a more rapid expansion of the continent\u2019s homegrown technology sector could initiate a gradual change towards the continent playing a more active role on the world stage.<\/p>\n

Out of the 80 CEOs surveyed, 54 per cent of them cited general investment in start-ups as the most promising path compared to 32 per cent who believe Foreign Direct Investment (FDI) is required to advance technological development.<\/p>\n

According to Continental Re’s managing director, Lawrence Nazare, Covid-19 demonstrated that Africa couldn\u2019t rely fully on the global supply chain for growth and development; therefore, it is essential to bank on our own investments.<\/p>\n

\u201cCollaboration amongst the 54 countries making up the continent is another growth driver for the technology sector,\u201d Nazare said.<\/p>\n

In the survey, Kenya emerged as the tech hub of the East African region, focusing predominantly on the adaptation of technology, less so on the development.<\/p>\n

The CEOS highlighted Kenya as the country most likely to gain from the expanding role of technology.<\/p>\n

This mirrors the recent Oxford Insights Government AI readiness index report for 2022, which ranked Kenya fifth in Africa for its readiness to adopt Artificial Intelligence in delivery of public services.<\/p>\n

It was ranked behind Egypt, South Africa, Tunisia and Morocco.<\/p>\n

The index also ranked the country 90th globally, with a score of 40.36 per cent.<\/p>\n

Insurance sector players were on the forefront rooting for the adoption of AI in business operations; with over 38 per cent of the respondents from the sector saying technology will pose a great opportunity for their businesses over the next five years.<\/p>\n

Almost a third of the CEOs from Africa\u2019s leading insurers noted their plan to invest between three to five per cent of their revenue in anything from smart AI chatbots to robotics and clean tech.<\/p>\n

This could amount to over $1 billion (Sh135.6 billion) in investment.<\/p>\n

\u201cThe insurance industry, like most other industries, is currently undergoing rapid changes where technological innovation can lead to greater customer-centricity and agility,” Nazare said.<\/p>\n

He however added that the inherent power of both technology and insurance to transform anything from business models, communities, to whole countries and regions of the world, remains valid even today when we are faced with constant disruption.<\/p>\n

The survey was conducted amongst 80 CEOs attending Continental Reinsurance\u2019s eighth annual CEO Summit last month.<\/p>\n

Source: The Star<\/b><\/p>\n

For More News And Analysis About Eritrea<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eritrea. Adoption of smart AI chatbots, such as ChatGPT, blockchain and open-source data are among top technology trends most likely to impact Africa\u2019s businesses in this decade, a new survey report now says. The survey conducted among business leaders across the continent by the pan-African re-insurer, Continental Re, says the adoption and development […]<\/p>\n","protected":false},"author":84,"featured_media":16421,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[242,243,233],"class_list":["post-16422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa-press","tag-africa-press-eritrea","tag-eritrea"],"yoast_head":"\nTech can ease Africa's aid dependency - survey - Eritrea<\/title>\n<meta name=\"description\" content=\"Adoption of smart AI chatbots, such as ChatGPT, blockchain and open-source data are among top technology trends most lik ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/tech-can-ease-africas-aid-dependency-survey\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tech can ease Africa's aid dependency - 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