The potential for AI to transform lives in emerging markets is huge. As Mahamudu Bawumia, the vice-president of Ghana and head of the government’s economic management team said recently: “One thing is clear: Africans have a goldmine at our fingertips. A rapidly growing population of 1.4 billion people, 70% under the age of 30, combined with huge growth in AI investments, creates a potent recipe … We will not sit back and wait for the rest of the world to reap our rewards.” But many emerging markets have challenges that make it difficult to reap these rewards. Striking the right balance between regulating AI, whilst also encouraging investment and innovation, is crucial – a topic we touch on in this edition of Eye on Emerging Markets.
