Balanced AI regulation essential to foster innovation and creativity – Valentine Obi

Valentine Obi, Founder and Group CEO of eTranzact Global, has stated that the emergence of Artificial Intelligence (AI) is necessary to assist in achieving work-life balance.

He believes that AI presents a unique opportunity for Africans, in particular, to embrace the ongoing technological revolution and develop solutions that can drive economic and social development on the continent.

Speaking to the media at the inaugural 3i Africa Summit in Accra, Valentine Obi addressed concerns that AI would lead to job losses in the near future.

He emphasized that AI has always existed and will simply help make work more efficient, rather than taking away jobs.

He further highlighted the potential for AI to create new job opportunities and develop innovative solutions.

“AI has always existed with us but is now simply going to make us work better instead of taking away jobs. When computers first arrived, it did not take away jobs, but made things easier. There is no doubt that many things can be done with AI in terms of research and others functions.

“So, I believe that with AI, it can actually help in creating other kinds of jobs because it can be used to develop other solutions,” he added.

When asked about the regulation of AI, Obi mentioned the importance of governance to prevent the misuse of this technology for negative purposes.

He also stressed the need for balanced regulation of AI; one that does not stifle innovation and creativity.

During the summit, Valentine Obi shared his journey, growth secrets, and challenges as a fintech founder in a session titled 'Rejection meets persistence, my growth secret.'

The 3i Africa Summit aims to drive momentum for Africa's digital finance agenda, fostering conversations and alliances to support the continent's digital economy and fintech sector while promoting innovative solutions.

The summit is organized by the Bank of Ghana (BoG), Development Bank Ghana (DBG), and the Monetary Authority of Singapore (MAS) through its subsidiary, Elevandi.

MA/NOQ

Watch the latest edition of BizTech below:



Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

Click here to follow the GhanaWeb Business WhatsApp channel