Africa is rapidly emerging as the next global economic frontier, driven by its youthful and dynamic workforce. By 2050, the continent’s population is expected to double to 2.5 billion, with 60% of its people under the age of 25.
This demographic shift positions Africa to become a significant player in the global labor market, particularly in sectors requiring skilled labor such as manufacturing, digital technology, and green energy. Additionally, the African Continental Free Trade Area (AfCFTA) is projected to host 1.7 billion people and oversee $6.7 trillion in consumer and business spending by 2030.
With a GDP growth forecast of 4.3% in 2024, Africa is set to be the second-fastest growing region after Asia.
This burgeoning workforce and economic potential make Africa a key region to watch in the coming decades.
(Microsoft CoPilot . Accessed 2024-11-14. Prompt: ‘share a paragraph including statistics of Africa poised to be the next frontier with a bustling workforce. ‘ Generated using https://copilot.cloud.microsoft.)
We aim to unite Human Resource leaders and enthusiasts on a global stage to enhance the impact of the HR profession, fostering a future where empowered and skilled professionals drive sustainable development across Africa.
KEYNOTE SPEAKER
KEYNOTE SPEAKER
MAIN SPEAKER
MAIN SPEAKER
WIHRT
WIHRT
PANELIST
PANELIST
In the context of AI adoption and development, Africa is currently positioned as a region with immense potential but varying levels of advancement. While significant strides have been made in certain countries and sectors, Africa as a whole still lags behind other regions in terms of AI infrastructure, investment, and implementation.
Several factors contribute to Africa’s current standing in the AI landscape:
Overall, while Africa is still in the early stages of its AI journey, there is a growing momentum and commitment towards harnessing AI for sustainable development and economic growth across the continent.
According to a report by the McKinsey Global Institute, AI has the potential to create an additional $13 trillion in global economic output by 2030, with significant implications for the future of work and HR practices. AI technology has the potential to alter business operations and performance, enhance productivity across all sectors in Africa.
With Africa’s growing population of 1.4 billion people, 70% of whom are under the age of 30, strategic investment in AI, especially in building the capacity to harness its benefits, is crucial for sustainable growth and competitiveness across the African continent.
The GCHRA provides a platform for cross-sector collaboration for Africa to harness this resource for increased development. It is an avenue for organizations to showcase their products and services while promoting AI adoption in Africa.
Click to read the full report on “The State of AI in Africa” and be sure to join GCHRA in October 2024 as we position AI as a key driver of productivity through human resources and AI collaboration.
Sources: