Govt optimistic about harnessing emerging tech for economic growth
The government has expressed a positive outlook on the potential of emerging technologies to drive its growth agenda and sustain the path of economic recovery.
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Experts project that the country could generate over $50 billion from these technologies, especially artificial intelligence (AI), provided they are properly regulated.
“I note once again our mutual interest in promoting productivity and business development through technology. The role of AI for business and economic development will have to be explored and leveraged.
“As a government, we will accelerate our digitalisation drive to create a supportive ecosystem for such technologies to flourish,” the Minister of State at the Finance Ministry, Abena Osei Asare, said.
She was speaking at the 8th CEO Summit in Accra yesterday on the theme: “Reigniting Business and Economic Growth: Charting a Path Forward; Economic Diversification and Artificial Intelligence Transformation. A Private-Public Sector CEO Dialogue & High Impact- Learn”.
The one-day event brought together CEOs, heads of institutions, policymakers, business leaders, entrepreneurs, investors and ambassadors to champion private-sector-led growth, and led discussions around innovative public policies and best growth-oriented business practices to help the country build resilient companies and outstanding CEOs.
Advancing responsibly
Speaking on the topic “Driving Economic Diversification: The Role of AI Telecommunications”, the Chief Executive Officer (CEO) of Telecel Ghana, Patricia Obo-Nai, stressed the critical role of technology adoption across various sectors to boost productivity, explore new opportunities, and maintain market relevance.
She called for concerted efforts to diversify the economy by leveraging different industry strengths, adding that expanding service offerings could help generate new revenue streams and attract a broader customer base.
Ms Obo-Nai explained that the future was not a distant dream but within grasp, waiting to be realised through bold leadership and strategic investment in digital innovation.
However, she said players in the telecommunications space must set ethical standards and policies to prevent technology misuse, navigate regulatory complexities, address data privacy and security concerns, and ensure the equitable distribution of AI benefits.
“We need to advance responsibly,” Ms Obo-Nai added.
Collaboration
For his part, the CEO of the CEO Network Ghana, organisers of the CEO Summit, Ernest De-Graft Egyir, called for a strong partnership between Ghana’s private and public sectors to help navigate the rapidly evolving global landscape.
He said by fostering a dialogue between CEOs from both sectors, the summit sought to inspire strategic partnerships and actionable insights to propel Ghana’s economic resurgence in the digital age.
He added that economic diversification was also crucial for resilience and sustained growth, while leveraging AI presented unparalleled opportunities for innovation and efficiency.