Cointime

Download App
iOS & Android

USA to forge AI partnership with Nigeria for economic growth

Validated Media

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

Recommended for you

  • Qian Zhimin, the main culprit in the 60,000 Bitcoin money laundering case, was sentenced to 6 years in prison in the first instance

    On May 24th, the Southwark Crown Court in London ruled in the second trial that 42-year-old Chinese national Qian Zhimin was guilty of money laundering and will serve six years and eight months in prison. Previously, Qian Zhimin had attempted to purchase multiple luxury homes in London, including a 23.5 million pound seven-bedroom mansion in Hampstead and a 12.5 million pound mansion with a private cinema and gym, which caught the attention of the police. An investigation found over 61,000 bitcoins worth more than 3 billion pounds in a digital wallet, setting a record for the highest amount of cryptocurrency seized in the UK. Currently, 23,300 bitcoins worth over 1 billion pounds are still in circulation. It is said that these bitcoins came from a 5 billion pound investment fraud case in China between 2014 and 2017, where the funds were transferred overseas and used to purchase cryptocurrency. Qian Zhimin did not directly participate in the fraud, but played a "front desk" role in helping to disguise the source of the laundered funds.

  • Plume Network Raises $10M Seed Funding to Bring Real-World Assets on-Chain

    San Francisco-based Plume Network has secured $10m in seed funding to expand its operations and development efforts. The funding round was led by Haun Ventures, with participation from Galaxy Ventures, Superscrypt, A Capital, SV Angel, Portal Ventures, Reciprocal Ventures and others. Plume provides a modular EVM L2 blockchain for real-world assets, integrating asset tokenisation and compliance providers directly into the chain.

  • Time to Harvest! HTX Liquid Restaking Injects ETHFI & zkLink Airdrops and Allows Points Redemption Soon

    This summer, as the scorching heat envelopes the Northern Hemisphere, an even more exciting anticipation filled the air—the arrival of the restaking airdrop harvest season. HTX, the global leading cryptocurrency exchange, is heating up the restaking season with the addition of Etherfi (ETHFI) and zkLink airdrops to its Liquid Restaking event. Points earned through the event will soon be accessible for redemption, allowing users to capitalize on their participation. According to the previous report, the event has recently increased its quota to over $150 million and introduced a new version featuring a clearer reward display and automatic update from LRS points to r-points.

  • A certain address destroyed 11.51 million DOGE 16 minutes ago, worth $1.86 million

    According to on-chain data, an address transferred 11.51 million DOGE, worth $1.86 million, to a black hole address (zero address) 16 minutes ago.

  • Vitalik unlocked 845,205 STRK from the Locked Token Grant contract 50 minutes ago

    According to on-chain analyst Yu Jin's monitoring, V God unlocked and received 845,205 STRK tokens worth $1.07 million from the Starknet Locked Token Grant contract 50 minutes ago.

  • Fidelity FBTC holdings exceed 150,000 Bitcoins, with a market value of over $10 billion

    The net inflow of the Fidelity Bitcoin exchange-traded fund (ETF) FBTC was $19.1224 million yesterday. The total historical net inflow of FBTC has now reached $8.67 billion. According to the latest data from Dune Analytics, FBTC's holdings have exceeded 150,000 Bitcoins, currently reaching 151,797 Bitcoins, and the market value of holdings has also exceeded $10 billion, reaching $10.3 billion. So far, Fidelity is the third-largest holder of spot Bitcoin ETFs, second only to Grayscale (287,701 Bitcoins) and BlackRock (275,756 Bitcoins).

  • xAI to complete new round of financing at a valuation of $24 billion

    According to sources cited by Bloomberg, Elon Musk's artificial intelligence company xAI will complete a round of financing in June, with a valuation of over $24 billion after financing. The company originally planned to raise $6 billion this month. It is said that xAI's goal is to raise as much as $6.5 billion and is expected to achieve this goal in the coming weeks.

  • Bitcoin spot ETFs had a total net inflow of $108 million yesterday, continuing a net inflow for 9 consecutive days

    On May 24th, according to SoSoValue data, the net inflow of Bitcoin spot ETF on May 23rd was $108 million. Yesterday, Grayscale's (Grayscale) GBTC had a net outflow of $13.7209 million, and the historical net outflow of GBTC is currently $17.641 billion. The Bitcoin spot ETF with the highest net inflow in a single day is BlackRock's IBIT, with a net inflow of $88.9516 million in a single day, and the total historical net inflow of IBIT has reached $16.171 billion. The second is Fidelity's FBTC, with a net inflow of $19.1224 million in a single day, and the total historical net inflow of FBTC has reached $8.67 billion.

  • The Hong Kong Privacy Commissioner has issued an enforcement notice to Worldcoin, but the Worldcoin Foundation has not yet disclosed whether it will comply with the ruling.

    The Hong Kong Privacy Commissioner for Personal Data has completed an investigation into the Worldcoin project and emphasized on Thursday that a compulsory enforcement notice has been issued to Worldcoin. However, Worldcoin has not disclosed whether it will comply with the regulatory decision, suspend its biometric data collection activities in Hong Kong, or address the concerns of participants. The Worldcoin Foundation, the supporting organization behind Worldcoin based in the Cayman Islands, expressed disappointment with the views of Hong Kong regulators, stating that its operations are legal and aimed at complying with laws and regulations related to data collection and use in Hong Kong and many other markets. The foundation stated that "unfortunately, Hong Kong overlooked these aspects when evaluating the human verification process."

  • Lista Token Economics Disclosure: Total Supply 1 Billion, 10% Airdrop, 40% Community

    On May 24th, Binance Research Institute released a research report on Lista (LISTA), revealing the token economics of LISTA. As of May 23rd, 2024, the total supply of LISTA is 1 billion, and the circulating supply after listing is approximately 230 million (about 23.0% of the total token supply), with Binance Megadrop quota being 100 million (about 10.0% of the total token supply). As for other types of allocation, airdrops account for 10.00% of the total token supply, investors and advisors account for 19.00% of the total token supply, the team accounts for 3.50% of the total token supply, the community accounts for 40.00% of the total token supply, the DAO Treasury accounts for 8.00% of the total token supply, and the ecology accounts for 9.50% of the total token supply.