To capitalise on growing opportunities in global commerce, Africa needs to focus on opportunities like energy transition and artificial intelligence, Anu Adasolum, CEO of Sabi, a startup that builds digital tools that enable trade, said at Moonshot by TechCabal on Wednesday.
Demand for sustainability is surging due to rising consumer awareness, stringent regulations, and a growing emphasis on environmental responsibility. Africa is well-placed to plug into these evolving dynamics.
“We have the minerals and the agricultural commodities. [We need] flows and solutions that enable businesses to plug into this demand,” Adasolum said in a fireside chat with Mudiaga Mowoe, CEO of Matta, a marketplace where manufacturers can source chemicals and other raw materials.
Artificial intelligence also presents an opportunity to rethink how we solve problems in the value chain of commerce.
“One of the biggest problems you have when dealing with the informal sector is communication and engagement. AI bridges this gap,” Adasolum said.
Businesses do not have to change their fundamental technology to integrate AI into their processes. In communication, there are AI bots that customers can interact with on WhatsApp, a communication platform many already use.
AI can be overlaid with familiar technologies to make subcomponents of the process like placing orders and tracking supply more efficient.
The technology also provides a standardization that can improve traceability—transparency in sourcing goods and services. “With AI, our data structures can be a lot more flexible.”
By exploring these opportunities, the continent has the potential to not only catch up but lead the way in the global trade value chain.
