Kola Market and Metaschool AI Named as First Grantees for Innovation Fund for Impactful AI
The GSMA, backed by funding from the UK Foreign, Commonwealth and Development Office (FCDO), has revealed the initial recipients of its Innovation Fund for Impactful AI. This initiative marks a significant step towards leveraging the power of Artificial Intelligence to address pressing developmental challenges within low- and middle-income countries (LMICs). The fund aims to accelerate the adoption of AI in crucial sectors to benefit vulnerable populations.
Driving AI Innovation in Africa and Asia
This funding is critical because, despite the global surge in AI adoption, its potential to improve the lives of the world’s most disadvantaged remains largely unrealized. The Innovation Fund specifically targets organizations that are creatively integrating AI with mobile technology, to deliver solutions in vital areas such as education, healthcare, and financial inclusion. The first group of grantees includes four enterprises spanning Africa and Asia, all committed to making AI accessible through widely available mobile devices, including basic feature phones. Among the selected innovators are Kola Market Inc. (Ghana), which is developing a mobile-first, AI-powered platform that uses WhatsApp, SMS, and voice to optimize sales and inventory management.
This initiative from the GSMA and FCDO highlights the growing recognition of AI’s potential to drive positive change in developing economies. By supporting innovative solutions like those developed by Kola Market and other grantees, the Innovation Fund for Impactful AI seeks to unlock the transformative power of AI and mobile technology to improve the lives of millions in LMICs.
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