The Chief Executive Officer of the Ghana Investment Promotion Authority (GIPA), Simon Madjie, has urged Investment Promotion Agencies (IPAs) in emerging economies to invest in digital infrastructure to accelerate the adoption of Artificial Intelligence (AI) in investment promotion.
He said inadequate digital infrastructure and the high cost of AI software licences were limiting the ability of investment agencies, particularly in Africa, to integrate the technology into their operations.
Mr Madjie made the remarks during an executive roundtable on the theme, “Navigating a New Investment Era: The Role of Investment Promotion Agencies and Special Economic Zones”, at the World Investment Forum in Doha, Qatar.
Citing a report by the United Nations Conference on Trade and Development (UNCTAD), he disclosed that only 16 per cent of investment promotion agencies in emerging economies, including those in Africa, had adopted AI in their operations.
He identified the high cost of software licences as a major obstacle to wider adoption, urging emerging economies to prioritise investments in the digital systems needed to support AI-driven investment facilitation.
Highlighting Ghana’s efforts, Mr Madjie said GIPA was integrating AI into its operations through initiatives including its Aftercare and Investor Grievance Mechanism, Customer Relationship Management (CRM) system and Investment Opportunities Mapping Project.
The initiatives are aimed at improving how the authority engages investors, addresses their concerns and identifies investment opportunities.
The roundtable brought together key stakeholders, including Ghana’s Deputy Head of Mission in Doha, Abdul Wahab Ali Wadey, and Deputy Chief Executive Officer of the Northern Development Authority, Hajia Jamilatu Ibrahim.
