CONFEDERATION of Zimbabwe Industries president Kurai Matsheza says artificial intelligence (AI) has now become vital to big data and data analytics within local organisations and local businesses must adopt new technology to stay relevant.
AI is defined as the simulation of human intelligence processes by machines, especially computer systems. Specific applications of AI include expert systems, natural language processing, speech recognition and machine vision.
“AI is vital when it comes to big data and data analytics. It helps businesses to have information at their fingertips. AI helps in speeding up the rate of manufacturing,” Matsheza said in an interview with NewsDay Business.
“Apart from that, in terms of research we acquire information of what is happening in the global market. It is important that we embrace that as Zimbabwean businesses.”
According to a report by the Indian-based consultancy firm, Allied Market Research titled “Artificial Intelligence Market 2023”, the global AI industry generated US$153,6 billion in 2023, and is anticipated to generate US$3,6 trillion by 2033,
Work Reel Africa Region head Stephen Mashingaidze said a lot of Zimbabwean companies need to upskill and do digital transformation to remain relevant.
“We have urged businesses to use AI in their recruitment processes so as to cut costs. It reduces the cost of filling curriculum vitaes and interviewing people physically. AI helps businesses to concentrate on value addition activities; it reduces turnaround time and increases productivity,” he said.
However, Mashingaidze added that there was a cost to AI and the major ones are acquisition of software and training.
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Zimbabwe Information and Communication Technologies chairperson Jacob Mutisi said businesses should not be left behind in terms of technological advancements.
“Artificial intelligence basically is using machine learning or technology to compute what the human mind wants to do. It can break down the sections of everything that an organisation does. Gone are the days of spending much time on writing a company profile because artificial intelligence can do that,” he said.
Former ICT and Postal Services minister Supa Mandiwanzira also encouraged the business sector to make use of AI.
“It is a very good thing that industry is talking about Al and encouraging itself not to be left behind. I would expect industry to be encouraging our institutions of learning to produce graduates that are employable in a world of AI,” he said.
Mandiwanzira stated that Al brings with it production efficiencies, better quality products and the ability for data compilation and analysis.
The former Cabinet minister said these all contributed to competitiveness and profitability in business.
He, however, warned: “A lot of people will be replaced by technology, leading to unemployment rates rising in the country. AI can cause fraud increase because a lot of fraudsters can also have access to it. Geo-politics and the issue of superpowers is also another major issue which can come with AI,” Mandiwanzira said.
