Nigeria Must Embrace AI Revolution, Warns World Bank

On Wednesday, Indermit Gill, the Chief Economist and Senior Vice-President for Development Economics at the World Bank Group, cautioned that Nigeria and other developing countries risk missing the artificial intelligence (AI) revolution unless they urgently adapt the technology to their local contexts. Speaking at the 7th Africa Emerging Markets Forum in Abuja, organized by the Central Bank of Nigeria, Gill highlighted the historical consequences of missing industrial revolutions, stating that countries like Nigeria could fall behind for centuries.

He argued that AI offers more opportunities than risks, particularly in complementing workers rather than replacing them. Gill noted that only about 10% of jobs in poorer economies might be adversely affected by AI, compared to 30-40% in advanced economies.

He urged governments to prioritize predictive AI, invest in digital infrastructure, and promote interoperability between AI systems. Dr.

Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation, also spoke, emphasizing that geopolitical uncertainties should not deter developing countries from embracing technology and global trade.