AfDB Forecasts Africa's Economy to Hit $5.23 Trillion by 2035 on AI Boom

The African Development Bank (AfDB) forecasts Africa's economy to grow to $5.23 trillion by 2035, driven by successful deployment of artificial intelligence. The report suggests that AI could contribute an additional $1 trillion to the continent's GDP over the next decade.

The growth is contingent on embracing AI technologies to enhance labor efficiency, economic inclusivity, and transformative gains. The report emphasizes the need for coordinated progress in digital infrastructure, skill development, data governance, and capital mobilization to realize this economic potential.