AI and Revenue Generation
By Professor Stephen Mashingaidze
The llast articles addressed a number of applications of AI, and now I need to address how organisations and individuals can monetize this. There is a lot of debate on how nations and companies are leveraging on the new technologies.
At Scotel and Tech4life we are already seeing the benefits of AI in our telemedicine kits besides the ongoing capacity building and up skilling for our clients. In 2001, the partners launched workreel.com an AI powered recruitment app in UK and Australia. The ChatGPT has competition from other players as well, among the generative AI chatbots from industry giants like Google (Gemini), Microsoft (Bing Chat), Meta (Llama 2), and Amazon (Codewhisperer).
In South Africa and Zimbabwe, regulators are trying to control these new technologies; my bet is that it will be a very difficult game to play and my advice is that all African nations must create a good environment for corporates and individuals to make money from the technological innovations.
The question is how would you leverage to broaden revenue earning through AI? From advertising to subscription models, there are varying ways for content creators to monetize their work. However, with the rise of artificial intelligence (AI), content monetization and revenue generation have taken on a whole new level of sophistication. Most users of social media platforms can now go beyond the selling mode by creating new revenue streams on various platforms and through the creation of Apps. AI can be used to predict which types of content are most likely to resonate with a particular audience, or to determine the optimal pricing for a product or service based on consumer behavior.
Dubai Holding adopted the innovations across its portfolio of businesses and futuristic solutions. In Africa , in particular Zimbabwe and South Africa are busy not embracing technoprenuers but focused more on regulation when the nation is preaching that we are open for business. Let’s adopt these technologies for the good of earning more revenue beyond what Econet Wireless and Old Mutual are doing at the moment. The nation lacks the aggressiveness and adoption of the new technologies in generating more revenues.
Dubai Holding is focused on investing in other nations beyond its own nation, but Zimbabwe has all the resources to exploit. AI and satellite technology is very useful in assessing the value of mineral resources and underground value of our land. There is no need to sale land and mines but we should use AI to monetize our land and natural resources; investors can buy equity from the special purpose vehicles to add real value to wealth creation. AI powered analytics gives businesses insights and capacity to make the right decisions within a short space of time.
AI-powered analytics can also help businesses make data-driven decisions about their content, such as which topics to cover, which formats to use, and which distribution channels to focus on. By understanding the role of AI in content monetization, businesses can stay ahead of the curve and leverage this powerful technology to unlock new sources of revenue. The SMEs and corporates must embrace this new dimension with speed as a basis of surviving and going beyond the current modus operandi of building mortar and brick .
With 99% of the ZSE and VFSE listed companies using a very old business model, the digital transformation is a must for 2024. The policy makers are not creating an enabling environment with speed; AI opportunities favour speed and this is an area that all stakeholders must work on and make sure the nation is not left beyond. The number of articles I have written highlight opportunities and barriers that can be managed in such a way that builds the national and organisations in a more symbiotic manner rather than being disorganized. AI is revolutionizing business models across industries, enabling companies to create new opportunities and drive growth. From platform-based models to digital twins and wearable devices, AI offers immense potential for innovation and value creation. Where are the ebays Starlink, Apples, Meta , amazons, googles, tik-tok, whatsapp and many more from our African territory? Where is the missing link if its capital , fear to take the risks and the lack of innovation? This must be addressed by creating opportunities like sustainable automated food supply and mining chains. In fact, Zimbabwe and Africa must stop mining and use mineral resources as land to raise real money to develop AI powered food supply systems.
It’s now pertinent to know that AI is now utilised in a number of areas in revenue earning.
• Professor Stephen Mashingaidze, Managing Director and Co-founder at Scotel Tech4life and Springbok Consulting(Pvt)Ltd. Email me for feedback on mashiconsultinternational@gmail.com cc stephen@aartec.com