Ghana Investment Promotion Authority chief executive officer Simon Madjie urged investment promotion agencies in emerging economies to invest in digital infrastructure to speed up the adoption of artificial intelligence (AI) for attracting and facilitating investments.
Madjie said limited access to digital infrastructure and the high cost of AI software licences are holding back agencies, especially in Africa, from integrating the technology into their operations.
Speaking at an executive roundtable during the World Investment Forum in Doha, Qatar, the CEO cited a United Nations Conference on Trade and Development (UNCTAD) report that only 16 per cent of investment promotion agencies in emerging economies have adopted AI.
He argued that wider adoption could improve how agencies identify investment opportunities, engage prospective investors and address challenges faced by existing businesses.
GIPA is already integrating AI into key operational systems, including its investor aftercare services, Investor Grievance Mechanism and Customer Relationship Management platform. The authority is also using technology in its Investment Opportunities Mapping Project to improve the identification and presentation of investment prospects.
The discussions formed part of a roundtable on the changing investment landscape and the role of investment promotion agencies and special economic zones. The session brought together representatives from Ghana, including Deputy Head of Mission in Doha Abdul Wahab Ali Wadey and Deputy Chief Executive Officer of the Northern Development Authority Hajia Jamilatu Ibrahim.
