My first day in Riyadh experiencing two powerful summits pre FII (Future Investment Initiative): New Africa Summit and HERizon Summit.
Africa has long been known for its mineral wealth, but now it’s emerging with a powerful new export: young talent. With a population of 1.4 billion, predominantly youth, Africa is positioning itself as the next global powerhouse.
The continent’s young workforce generates tremendous excitement. However, there’s an urgency to train this vast talent pool. The focus is on rapid skill development and implementation, as Africa competes globally for investments. Significant challenges remain – 40% of Africa lacks electricity access. As AGI (Artificial General Intelligence) approaches, its implications for Africa’s development are profound.
Financial Innovation & Inclusion:
The statistics are striking: 400 million Africans lack formal identification. However, progress is evident – Ethiopia is pioneering digital ID solutions.
I was particularly impressed by Senegal’s new young president, a farmer’s son with economics training and martial arts background. His vision for transforming his country, especially focusing on technology for the 70% under-35 population, is remarkable. In discussions with his team, their enthusiasm for AI education was palpable.
Healthcare Technology: A compelling panel featuring Dr. Oz highlighted how cost-effective technologies could revolutionize African healthcare. Eye-tracking systems and mobile ultrasound devices show particular promise for saving lives. This aligns perfectly with Miami AI Club’s research on affordable, mobile-first AI solutions for low and middle-income countries, and sharing the results with the Columbia University.
After the panel I had the chance to share our projects with Dr. Oz and he specifically praised Hummingbird AI’s Guacamole platform, emphasizing its potential to transform healthcare delivery by making the lives of doctors and nurses easier and encouraged us to bring this to more hospitals.
The day was rich with opportunities to exchange ideas with global tech and capital leaders about AI and AGI, while fostering new connections and strengthening existing ones. Looking Ahead: Africa is emerging as the next India or China. Global capital leaders are increasingly excited about Africa’s future, recognizing that this transformation will be largely driven by the tech sector, particularly AI. The continent’s potential is immense, and its technological revolution is just beginning.