Cointime

Download App
iOS & Android

USA to forge AI partnership with Nigeria for economic growth

The United States of America (U.S.A) and Nigeria are poised to engage in discussions on the digital economy, emerging technology, and the advancement of artificial intelligence (AI) to explore potential partnership opportunities.

During the closing ceremony of a four-day Workshop on National Artificial Intelligence Strategy in Abuja, Mr. Arthur Brown, the Deputy Chief of Mission at the U.S. Embassy, revealed this information. Brown stated that within two weeks, senior officials from the U.S. government would convene in Abuja for a conference organized by the U.S.-Nigeria Bi-National Commission.

Providing further details on the upcoming meeting, the deputy chief of mission said the United States aims to capitalize on the momentum generated by a four-day workshop by organizing an AI conference in Lagos.

The partnership aims to strengthen economic ties and ensure that AI deployment is safe, secure, transparent, and trustworthy. Through its diverse agencies, Brown expressed that the United States is prepared to collaborate with Nigeria as equitable partners to advance initiatives spanning talent development, infrastructure, research, and innovation.

He lauded Nigeria for endorsing a significant United Nations resolution on AI and committed to the ongoing partnership between the U.S. government and Nigeria regarding the economy.

Addressing the workshop’s conclusion, Dr. Bosun Tijani, the Minister of Communications Innovation and Digital Economy, emphasized the importance of African governments and leaders taking decisive action to support their aspirations and strategies.

According to a PricewaterhouseCoopers study, artificial Intelligence could contribute $15.7 trillion to the global economy by 2030, with approximately $3 trillion attributed to enhanced productivity and $9.1 trillion arising from novel goods and services.

Speaking on anticipated revenue generation and job creation, Tijani emphasized that rather than prioritizing revenue, Nigeria should focus on establishing effective governance for AI, recognizing it as a critical tool to enhance productivity across sectors.

In partnership with the National Information Technology Development Agency (NITDA) and the Nigeria Communications Commission (NCC), the Ministry orchestrated a four-day Artificial Intelligence workshop to craft a collaborative framework for implementing AI in the nation.

The four-day artificial intelligence workshop led to the launching of Nigeria’s first Multilingual large language model (LLM) as the country pushes forward to take a leadership position in artificial intelligence development in Africa.

In August 2023, the Nigerian government invited scientists of Nigerian heritage, as well as globally renowned experts who have worked within the Nigerian market, to collaborate in formulating its National Artificial Intelligence Strategy.

AI
Comments

All Comments

There are no comments yet, why not be the first?

Recommended for you

  • AI infrastructure platform Mahojin completes $5 million financing

    AI infrastructure platform Mahojin has completed a $5 million financing round, led by a16z CSX and Maelstrom. Mahojin aims to create a "GitHub" for AI model creators and dataset developers, with the platform enabling intellectual property tracking and rewarding the original contributors of models and datasets.

  • A senior Brazilian official: Bitcoin reserves are "crucial" to Brazil's prosperity

    according to Decrypt, Pedro Giocondo Guerra, senior advisor to the Vice President of Brazil, stated in a recent speech on behalf of the government: "The strategic reserve of Bitcoin is crucial for the prosperity of the country. Discussions about establishing a BTC reserve may be a key factor in deciding the prosperity of Brazil, in line with the interests of the country and the public." Brazilian congressman Eros Biondini (PL-MG) previously proposed legislation to establish a "strategic sovereign Bitcoin reserve" (RESBit). Holding 5% of foreign exchange reserves (international reserves) in Bitcoin, the Central Bank of Brazil will use advanced monitoring systems, blockchain technology, and artificial intelligence to monitor transactions and be responsible for custody.

  • Bitpanda receives broker-dealer license from Dubai Virtual Assets Authority

    Bitpanda, headquartered in Vienna, has obtained a broker-dealer license from the Dubai Virtual Asset Regulatory Authority (VARA).

  • US artificial intelligence startup Yutori raises $15 million

    Yutori, a startup based in San Francisco, has raised $15 million for the development of an artificial intelligence personal assistant.

  • Meme incubation platform Coresky completes $15 million Series A financing

    Meme incubation platform Coresky announced the completion of a $15 million Series A financing round, led by Tido Capital, with WAGMi Ventures, Copilot Venture Studio, Web3 Vision Fund, and Parallel Ventures participating. The valuation information has not been disclosed, and the company's total financing to date has reached $21 million.

  • Vest Labs Completes $5 Million Seed Round of Financing, with Amber Group, QCP Capital and Other Investors

    Vest Labs, a financial infrastructure company based on real-time risk pricing, has announced the completion of a $5 million seed round financing, with participation from Jane Street, Amber Group, Selini Capital, QCP Capital, and Big Brain Holdings. The new funds will be used to support its construction of a real-time, verifiable risk pricing model based on zero-knowledge proofs to enhance financial market transparency and efficiency, and will also launch a perpetual futures trading platform supporting Arbitrum, Solana, Base, and other L2 solutions.

  • Digital asset high-frequency trading company ABEX completes new round of financing of US$6 million

    ABEX, a digital asset high-frequency trading company based in London, United Kingdom, announced the completion of a $6 million financing round, led by MMC Ventures. The new funds are intended to be used for the launch of derivative trading and algorithmic execution solutions to improve the transaction execution efficiency of centralized and decentralized financial venues. It is reported that the company is registered with the Financial Conduct Authority (FCA) in the United Kingdom, allowing it to engage in cryptocurrency trading activities.

  • The market value of BSC ecosystem meme coin BUBB hit a record high of US$35 million, with a 24-hour increase of 516%.

    On March 21st, according to GMGN market information, the BSC ecosystem meme token BUBB reached a market value of 35 million USD in a short time, hitting a historic high, and is currently at 31.3 million USD, with a 24-hour increase of 516% and a 24-hour trading volume of 41.7 million USD.

  • Decentralized identity management platform Via Science completes $28 million Series B financing, led by Bosch Ventures

    decentralized identity management platform Via Science has completed a $28 million Series B financing round, led by Bosch Ventures, with participation from BMW i Ventures, MassMutual Ventures, Sentinel Global, and Westly Group. It is reported that Via Science's decentralized, zero-trust architecture has been tested by the US Department of Defense and, unlike any other Web3 technology, its combination of end-to-end post-quantum encryption can ensure access and privacy for the authorizer.

  • A certain whale's 5x MELANIA long position has not changed for the time being, and the position of 3.86 million MELANIA has now suffered a floating loss of nearly $100,000

    according to on-chain analyst @ai_9684xtpa monitoring, the 5x MELANIA long position of the Hyperliquid 50x leverage profit of 16 million US dollars whale has not changed, with a position of 3.86 million tokens now floating a loss of nearly 100,000 US dollars