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Ministers, CEOs call for adoption of AI

by Mandla Ndlovu
15 Jun 2024 at 13:04hrs | Views
The CEO's Africa Roundtable kicked off in the resort town of Victoria Falls amid robust debate and cross fertilisation of ideas to catapult Africa to its full potential and eliminate poverty on the continent through harnessing Africa's huge natural resource endowments.

 The sessions that were addressed by the Minister of Industry and Commerce, Mangaliso Ndlovu, Minister of Information Communication Technology, Postal and Courrier Services, Tatenda Mavetera, and Minister of Higher and Tertiary Education, Prof Walter Murwira with CEOs imputing the necessary open imputation of ideas and critique to cement public private partnerships, pursuant to the achievement of Vision 2030.

Participants agreed that Africa, despite possessing two-thirds of the world's natural resources, remains impoverished. They acknowledged that the root of the problem lies in Africa's failure to add value to its resources and innovate, thereby perpetuating inefficient production methods.

Despite concerns over Artificial Intelligence's potential to eclipse human control, participants also agreed on the need to harness it for Africa's growth, but with special emphasis on the need to maintain the human soul and spirit to control the technology.

The CEOs concurred that there was need for a mixed skill blend of boards of directors and executives of parastatals to ensure a balance of wisdom and experience, as well as innovation and energy from young ones.

Zimbabwe has done well in this regard with the Corporate Governance Unit ushering in a refreshing corporate governance mileau in Government, as well as establishing the Mutapa Investment Fund (MIF) to superintend 66 State invested companies and parastatals, which will operate independently following market dictates.

The focus on AI, parastatals and small businesses is the panacea to growth. Zimbabwe has done exceptionally well in this regard with efforts being made to grow Zimbabwe's informal economy, while the MIF is re-energising and innovating the 66 companies under its armpit to make them viable and relevant, pursuant to the achievement of Vision 2030.

Source - Byo24News