Rwanda Could Earn U.S.$587 Million From Artificial Intelligence

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Rwanda expects an estimated $589 million (approx. Rwf731 billion), representing six percent of Gross Domestic Product (GDP), following an investment of $76.5 million in the national Artificial Intelligence (AI) policy, over the next five years.

This is the potential of AI solutions in Rwanda's economy, according to a study conducted by McKinsey, a global consulting firm, in collaboration with the Ministry of ICT and Innovation.

With an ambition to become an innovation hub, Rwanda is set to host some major global technology companies such asNorbert Haguma, a local tech expert specialized in fintech and blockchain technology, said this estimate is a significant indicator of the transformative potential of AI in the country, reflecting the belief that AI can drive economic growth, innovation, and efficiency across various sectors such as improved healthcare, agriculture, and financial services, which can ultimately boost...

Additionally, it can support institutions like RSSB when it comes to claims management over health insurance schemes, Rwanda Revenue Authority to improve tax collection systems, as well as empowering community healthcare workers with generative AI tools like chat GPT that allows real-time flow of information in Kinyarwanda.

James Ndekezi, an AI enthusiast based in Kigali, previously told The New Times that there is a need to create a strong research collaboration between academia, industry, and government institutions.

 

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