Google on Thursday said a recent study, conducted by Public First, showed that Artificial Intelligence had the potential of contributing $15 billion to the Nigerian economy by 2030.
The Director, West Africa of Google, Olumide Balogun, said this at its Economic Impact Report Press Roundtable in Lagos State.
Balogun said the Public First’s Digital Opportunity of Nigeria Report’s projection would be achieved with Google’s commitment to responsible AI development playing a pivotal role.
He said that the report revealed that in 2023, Google’s products and services, which included Search, Ads, YouTube, and Cloud, contributed an estimated $1.8 billion in economic activity across Nigeria.
He said that, according to the report, this estimated $1.8 billion had significantly boosted the productivity of Nigerian businesses, creators, and workers.
He said: “Over 1.5 million young adults learnt new digital skills in 2023 alone.
“With Nigeria experiencing rapid digital development, the report highlights the potential for further growth.
“According to the study, every $1 invested in digital technology in Nigeria generates over $8 in economic value.
“This emphasises the critical role of digital technology, including connectivity, cloud computing and artificial intelligence in shaping Nigeria’s economic future.”
Balogun said that Google was thrilled to see the positive impact that digital technology was having on Nigeria’s economy, as reported by eagleonline.
According to the Google Director, this report underscores the importance of continued investment in digital skills and infrastructure to unlock the full potential of Nigeria’s vibrant digital economy.