ROLE OF ARTIFICIAL INTELLIGENCE IN THE ECONOMIC DEVELOPMENT OF GHANA

The field of Artificial Intelligence (AI) has witnessed rapid advancements, positioning itself as one of the most revolutionary technologies of the 21st century. While developed nations, particularly in the Western and Asian regions, actively strive for AI leadership, developing countries like Ghana have lagged in this race. Considerable investments have been dedicated to AI research and development worldwide, with high expectations of reaping substantial benefits in the foreseeable future. Governments have responded by implementing strategies to guide the adoption of AI, underscoring its growing significance in various sectors. In line with this global trend, the Ghanaian government took a significant step in 2022 by formulating a national AI strategy to harness AI's potential to achieve national objectives and foster sustainable development. However, it is essential to acknowledge that developing a strategy is merely the initial phase, as substantial efforts are needed to actualise the desired outcomes. This study specifically focuses on identifying the critical sectors within Ghana's economy that can undergo substantial transformation through the integration of AI. To achieve this objective, the research examines the relationship between AI and economic development alongside an overview of the Ghanaian economy, its challenges, and developmental goals. By establishing that AI possesses the potential to catalyse economic transformation, the study highlights that the impact may manifest both directly and indirectly, requiring a patient approach to evaluate and unlock its benefits fully.