A new report by McKinsey has shown that generative artificial intelligence (AI) could add the equivalent of $2.6 trillion to $4.4 trillion every year. But this would mostly go to developed countries that have already mapped their positions in the AI market. African countries are expected to largely receive very little from the investment.
According to multiple reports, the US, for example, hosts some of the big tech companies at the forefront of the generative AI market. This includes OpenAI the creators of ChatGPT and actively bankrolled by Microsoft; and Google the creators of Bard. Research by Goldman Sachs in March projects that a quarter of the work done in the US and the eurozone would likely be automated. The US also tops the rankings with a score of 85.72 in the 2022 AI Readiness Index, a research conducted by The Centre for Study of The Economics of Africa (CSEA). Singapore with an index of 84.12 and the United Kingdom with an index of 78.54, make up the top three countries globally.
