Megacity of Lagos closer to realising its own AI destiny where etiquette can’t be stressed enough
How badly Lagos State wants to continue being the centre of excellence is showing brightly like the cyan, magenta, yellow and black colours embodying its seal.
Even if other cities in Africa or around the world on the surface may seem like they are sleeping on the fact that artificial intelligence algorithms, through their precision-based responses, will help shape the Industry 4.0 that is in motion, officials running Lagos State aren’t leaving room for doubt about their active readiness. If anything, there is already a framework in the making to order the steps of the innovative minds seeking to tap into the capacity of a world-dominating AI.
This initiative will pave the way for responsible AI development in Nigeria, highlighting the state’s commitment to innovation and technological advancement, says Commissioner for Innovation, Science, and Technology Mr Olatunbosun Alake on Thursday 21 November 2024, the day Zenith Bank took up host duties for a sort of ideas-seeking technology fair close to its Victoria Island headquarters.
It was all about Embedded Finance, Cybersecurity & Growth Imperative – The Impact of AI Tech Fair. This was the theme that the Zenith Bank Tech Fair was leveraging to complete its latest innovation-focused corporate social responsibility.
After the event held at the Eko Convention Centre of the Eko Hotels and Suites, also in VI was complete, the sum of ₦77.5million in cash prizes had been awarded to startups whose way of thinking was thought good enough for scaling higher up.
By the time the showcase ended, JumpnPass, a self-checkout technology solution reshaping the retail landscape in Africa turned out the overall winner which meant this team won the ₦25million grand prize. In addition, they get to be involved in six weeks of mentorship and enter an incubation programme that propels scaling effectively. This is to run from December 2024 to February 2025.
It was the fourth reiteration of the showcase four days ago when the honourable commissioner attended and his earlier remarks had manifested right before his eyes.
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Other startups also got a taste of success like CreditChek , a credit and verification service provider leveraging AI and open banking won ₦20million and the mentorship programme. Theirs is to streamline income and credit history verification for financial institutions, so there was always a strong possibility that their story would attract a reward.
Outcomes such as these are why the megacity of Lagos prefers establishing clarity around the use of artificial intelligence in finding solutions, hence the partnership with the Federal AI Collective to come up with regulations.
The Federal AI Collective, with a $1.5miilion backing, is a community of practice bringing together expertise from civil society, academics, tech, and other sectors working together to advance Artificial Intelligence in Nigeria, ensure it is safe, and is used ethically for the good of all.
Mr Alake’s projections, shared at the tech fair, see rules being finalised by the first or second quarter of next year.
Our digital initiative, including the enterprise architecture project, is standardising and harmonising our digital data assets to ensure effective AI implementation.
