The Importance of Collaboration for Nigeria’s Payments System
Kashifu Inuwa Abdullahi, the director-general of the National Information Technology Development Agency (NITDA), emphasizes the need for collaboration between NITDA, the Central Bank of Nigeria (CBN), and financial institutions to promote the use of the Nigeria Payments System both domestically and globally. Inuwa acknowledges the potential of financial technology (fintech) in driving Nigeria’s performance in various sectors, such as industry and environmental and social governance. He believes that a developmental regulation approach and enabling policies co-created by the tech ecosystem can harness these benefits.
NITDA’s Collaborative Approach to Regulating AI
Inuwa highlights the importance of proactive measures to harness the benefits and mitigate the threats posed by artificial intelligence (AI). He emphasizes NITDA’s collaborative efforts with CBN and other stakeholders in regulating the AI space. If the CBN adopts a specific technology, it can expedite implementation. The Nigerian government has recognized the exponential growth of AI models and is developing an artificial intelligence policy through NITDA. This policy will serve as a foundation for outlining rules, strategies, frameworks, and guidelines for adopting and deploying AI.
Balancing Potential Benefits and Threats
Inuwa acknowledges that while artificial intelligence presents tangible benefits, it also poses significant threats. Biases within AI models remain a concern. However, he affirms that NITDA’s regulatory approach aims to foster innovation rather than stifle it. In addition to promoting AI, the federal government has implemented startup ecosystem-friendly initiatives to support industry growth.
Unveiling Nigeria’s Artificial Intelligence Policy
Nigeria’s federal government is working on an artificial intelligence policy that will be soon made public. This policy will provide a framework for implementing AI-related strategies and guidelines. NITDA, as the implementing agency, will play a crucial role in discussing and formulating these strategies to ensure responsible adoption and deployment of AI technologies.
Expanding Technical Talent with AI Courses
The Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, recently introduced the 3 Million Technical Talent (3MTT) program in Nigeria. This program aims to provide over 1 million individuals with the opportunity to enroll in an introductory AI course. By expanding technical talent in AI, Nigeria seeks to strengthen its workforce and drive innovation in the digital economy.
Hot Take: Fostering Collaboration for AI Development in Nigeria
Nigeria recognizes the transformative potential of artificial intelligence but also acknowledges the associated risks. Through collaborative efforts between NITDA, CBN, and other stakeholders, Nigeria aims to regulate and harness the benefits of AI while addressing potential threats and biases. The forthcoming artificial intelligence policy will provide a framework for responsible adoption and deployment of AI technologies. By expanding technical talent through programs like 3MTT, Nigeria is positioning itself to be at the forefront of AI innovation in Africa.
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