AI and data is the new oil in the world - notes from Arumna's celebration

Since 2020, Africa has experienced significant devastation because of extreme weather, whether that be as a consequence of droughts or flooding in the region. Contributors to the event were passionate about the need to meet global emissions targets and altering the global financial architecture that exists. Professor Osinbajo emphasised that many African countries were saddled with large debts with almost half of countries on the continent spending more on debt-relief management than on their investment in development.

Members of our faculty also provided their insights and assessments of the infrastructure deficit that impacts many African nations, with 43% of the region lacking electricity. Professor Thomas Hellmann, Professor Daniel Armanios and Professor Rehema Msulwa spoke about the need for sustainable development and an aspiration for Africa to become a place to create the mould, rather than attempt to fit it, when looking for solutions. Citing the introduction of robust regulatory frameworks and the prioritisation of long-term strategic planning as essential. 

A sense that AI and data have become the new oil in terms of global standing and the effects on the haves and have-nots, prevailed over the course of the event. Calls for Large-Language-Models to understand African languages, dialects and cultures were notable as was support for Daniel Armanios’ claim that Africa suffers from a ‘failure bias’, where there is a focus on what doesn’t work, where there is a focus on what doesn’t work rather than what does; with success stories left unshared and solutions sought externally.