I had the honour of attending the World Economic Forum (WEF) for the third time, and it remains an exceptional gathering of global leaders, business magnates, and forward-thinkers. This year’s agenda concentrated on the intersection of Artificial Intelligence (AI), Climate, and Africa, and it is evident that the future hinges on these pivotal topics for numerous reasons.
Artificial Intelligence (AI)
The CEO of OpenAI, Sam Altman, aptly addressed the widespread adoption of AI, particularly with the emergence of ChatGPT and other AI tools. Bill Gates underscored that AI is not only transformative for households, but also has the potential to revolutionise productivity on a global scale. The fusion of AI with other pioneering technologies such as Quantum Computing, Blockchain, AR/VR, and 5G/6G will propel the next wave of innovation, and the possibilities are truly remarkable. Imagine instantaneous custom solutions powered by Quantum Computing and delivered via 5G without the need for local processing. It’s a game-changer!
Climate
The urgency of addressing global warming and climate change was palpable throughout the forum. Alarming discussions revealed that if we continue on our current trajectory, a band spanning 10 degrees on either side of the equator will experience devastating disturbances by 2050, affecting coffee and chocolate production globally. Despite these troubling projections, there is a glimmer of hope, with conversations focusing on sustainability and empowering family-owned businesses to lead global initiatives towards sustainability. Small actions at a local level and major global innovations can make all the difference.
Africa
As an entrepreneur and investor with a profound passion for African innovation, I am of the belief that the future lies within the heart of Africa. By 2040, Africa will be home to the largest youth workforce globally, constituting over 40% of the world’s youth population. However, the continent faces the challenge of reducing emissions caused by industrialisation and advancing without depending on fossil fuels as others have done in the past. Unemployment rates are rising across the continent, particularly among the youth, and change is imperative. I firmly believe that African entrepreneurs hold the key to transforming Africa’s economic landscape, and it is crucial to focus on nurturing the African start-up ecosystem and providing technological education to ensure their success.
There is no denying the pivotal role that Africa will play in shaping the future global economy. The question remains – will it be shaped by Africans abroad or driven by African innovation on the continent? My hope is firmly grounded in the potential of African innovation to lead the way.
Rayhaan Survé
MBA, University of Oxford
BSc in Business, Technology, and Finance, Babson College
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