The technology scene on the continent is thriving, producing billion-dollar businesses that are transforming the digital landscape.



The word ‘unicorn’, synonymous with an entity that is &nbsp;rare and legendary, is the ideal way to depict startups valued at over $1 billion. Traditionally associated with Silicon Valley in the U.S., unicorns are now emerging across Africa, driven by rapid mobile adoption, a growing demand for financial services and an unstoppable entrepreneurial spirit.



These companies are pioneering solutions that respond directly to the needs of African markets, but are making waves far beyond the continent’s borders, while simultaneously attracting global investors and pushing the boundaries of what’s possible in the digital economy.



From Nigeria’s tech innovators to Egypt’s fintech pioneers, these African unicorns are transforming industries like banking, e-commerce, and digital payments.



Here’s a look at the businesses that are reshaping the way people and companies engage with technology in Africa and beyond:



Moniepoint – Nigeria’s Newest Unicorn



Fintech company, Moniepoint recently crossed the $1 billion mark after securing $110 million in funding, with Google’s Africa Investment Fund as one of its investors. Initially a banking infrastructure provider, Moniepoint now offers a full suite of digital banking services. It’s revolutionizing access to payments, foreign exchange, and credit, all thanks to Africa’s growing mobile connectivity.



Interswitch – A Pioneer in the Tech Scene



Founded in 2002, Nigeria’s Interswitch paved the way for digital payments in Africa and became one of the continent’s earliest unicorns, in 2019, with a reported valuation at $1 billion. Known for its Verve Card, Interswitch provides interbank transaction services, identity verification, and government infrastructure. The company has honed in on its mission to make financial transactions seamless across Africa.



Flutterwave – Simplifying Global and Local Payments



Flutterwave, founded in 2016, became a game-changer in payment solutions for businesses with its last public valuation at around $3 billion. Focused on simplifying international payments, it now empowers African entrepreneurs through tools like its Flutterwave stores and Disha, a platform for content creators. The company’s mission is simple but powerful: to ensure that’s it’s easier to do business with Africa.



OPay – A Fintech Powerhouse



OPay, founded by Opera and Balder Investment, quickly became a popular name in Nigeria and is valued at over $2 billion. After pivoting from ride-hailing to focus solely on fintech, OPay now offers services like airtime top-ups, microloans, and bill payments to over 18 million users. Its agent network is vast, enabling financial services even in remote areas.



Andela – Shaping Africa’s Tech Talent



Andela’s journey began in 2014 with a bold mission: to train Africa’s brightest developers and connect them with global companies. Today, it’s a talent marketplace, with a last reported valuation of around $1.5 billion, that places experienced engineers with top firms worldwide. Andela has moved from solely filling the global tech talent gap to &nbsp;also proving Africa’s potential on the world stage.



Wave – Senegal’s Mobile Money Innovation



Wave Senegal has reshaped the mobile money market in Francophone Africa, challenging telecom giants with its affordable, user-friendly platform. With lower fees and easy-to-use services, the startup, reportedly valued at over $1.7 billion, has seemingly become indispensable, making financial transactions more accessible for millions of users.



MNT-Halan – A Formidable Fintech Business in Egypt



The $1 billion valued MNT-Halan, as reported online, formed from a merger between ride-hailing and microlending platforms, is a leading force in fintech innovation in Egypt. Focused on loans, digital wallets, and B2B e-commerce, MNT-Halan provides vital financial services for individuals and businesses alike, making financial inclusion a reality.



Chipper Cash – Connecting Africa’s Financial Ecosystem



Chipper Cash, valued at around $2.2 billion, is breaking down financial borders with its cross-border payment services. Boasting over five million users, the app enables easy transfers, bill payments, and even crypto trading across Africa.

Untitled design (5)

The African Tech Unicorns Leading The Way Towards An Innovative Future

A tumbler that reminds you to drink water and an 18k-gold ring that helps make your payments. Whatever’s next?



<div class="wp-block-media-text is-stacked-on-mobile"><figure class="wp-block-media-text__media"><img loading="lazy" decoding="async" width="1024" height="972" src="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Apple-Watch-Hermes-1024x972.png" alt="" class="wp-image-64055 size-full" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Apple-Watch-Hermes-1024x972.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Apple-Watch-Hermes-300x285.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Apple-Watch-Hermes-768x729.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Apple-Watch-Hermes-1536x1458.png 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Apple-Watch-Hermes.png 1852w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure><div class="wp-block-media-text__content">
Apple Watch Hermès



The Apple Watch Hermès Series 10 comes in the signature Hermès orange box, available at Apple or Hermès. The new model supports sleep apnea and wrist temperature, a 6m-depth gauge, on-device Siri, precision inding for Find My and fast charging. Unique Her- mès touches include a silver titanium finish, logo on the back, two watch straps including a leather Hermès one that can be single or double tour, and exclusive watch faces.



Price: from $1,249.
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<div class="wp-block-media-text has-media-on-the-right is-stacked-on-mobile"><div class="wp-block-media-text__content">
Kindle Colorsoft Signature Edition



Amazon has released its first-ever color screen Kindle called the Kindle Colorsot Signature Edition. It promises eight weeks of battery life, improved speed and contrast, supports pinch to zoom and increased display sizes. The seven-inch display is optimized for reading without glare, suited for travel guides, cookbooks, comics, or graphic novels. Highlighting can be done in yellow, orange, pink or blue, plus searching by color. It is waterproof, features USB-C and wireless charging.



Price: $279.99
</div><figure class="wp-block-media-text__media"><img loading="lazy" decoding="async" width="1024" height="993" src="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Amazon-Kindle-Colorsoft-1024x993.png" alt="" class="wp-image-64054 size-full" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Amazon-Kindle-Colorsoft-1024x993.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Amazon-Kindle-Colorsoft-300x291.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Amazon-Kindle-Colorsoft-768x745.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Amazon-Kindle-Colorsoft-1536x1490.png 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Amazon-Kindle-Colorsoft.png 1670w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure></div>



<div class="wp-block-media-text is-stacked-on-mobile"><figure class="wp-block-media-text__media"><img loading="lazy" decoding="async" width="1024" height="760" src="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Asus-Zenbook-S14-1024x760.png" alt="" class="wp-image-64056 size-full" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Asus-Zenbook-S14-1024x760.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Asus-Zenbook-S14-300x223.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Asus-Zenbook-S14-768x570.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Asus-Zenbook-S14-1536x1140.png 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Asus-Zenbook-S14.png 1886w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure><div class="wp-block-media-text__content">
ASUS ZenBook S14



The ASUS Zenbook S14 Copilot+ PC is a premium Windows 11 laptop from ASUS that features an all-metal 1.1cm thin body that is 1.2kg light. The new Intel Core Ultra 7 chipset and AI Boost powers its AI features like productivity assistance, text and image creation, faster photo and video edits, and built-in security, while its vapor chamber keeps it cool. It has a 3K display, 72Wh battery, large touchpad and Harman Kardon sound.



Price: $1,299
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<div class="wp-block-media-text has-media-on-the-right is-stacked-on-mobile"><div class="wp-block-media-text__content">
Meta Quest 3S



The new Meta Quest 3S virtual reality headset lets you turn any room into a personal theater. You can play standalone VR games, watch live concerts, experience mixed reality by blending the digital and real world, or cast games on to a television. It has multi-tasking support for YouTube, WhatsApp, Facebook Messenger, Instagram, etc. It features a Snapdragon XR2 Gen 2 chip, 8GB of RAM, 128GB storage, up to 120Hz refresh rate, and 1832&#215;1920 screen resolution per eye.



Price: from $299.99
</div><figure class="wp-block-media-text__media"><img loading="lazy" decoding="async" width="1024" height="636" src="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Meta-Quest-3S-1024x636.png" alt="" class="wp-image-64061 size-full" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Meta-Quest-3S-1024x636.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Meta-Quest-3S-300x186.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Meta-Quest-3S-768x477.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Meta-Quest-3S-1536x954.png 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Meta-Quest-3S.png 1752w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure></div>



<div class="wp-block-media-text is-stacked-on-mobile"><figure class="wp-block-media-text__media"><img loading="lazy" decoding="async" width="906" height="1024" src="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Samsonite-Restackd-906x1024.png" alt="" class="wp-image-64062 size-full" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Samsonite-Restackd-906x1024.png 906w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Samsonite-Restackd-265x300.png 265w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Samsonite-Restackd-768x868.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Samsonite-Restackd-1358x1536.png 1358w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Samsonite-Restackd.png 1682w" sizes="auto, (max-width: 906px) 100vw, 906px" /></figure><div class="wp-block-media-text__content">
Samsonite Restackd Carry On



Samsonite’s revamped Stackd collection called Restackd features a lighter design and larger packing volume. The 55cm carry-on cabin spinner with easy access has a front pocket for a laptop, tablet and other accessories, suitable for business travel. It includes two packing cubes and plenty of zipped pockets. At 3.1kg, it measures 55x40x23cm with a 3cm depth expansion. It features an integrated ID tag, TSA combination lock and comes in black, green, pink and navy.



Price: ZAR7,299 ($400)
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<div class="wp-block-media-text has-media-on-the-right is-stacked-on-mobile"><div class="wp-block-media-text__content">
Hyperice Hypersphere Go Hyperice, known for its health-tech products for recovery and movement, has the perfect travel companion called the Hyper- sphere Go. This TSA-approved massage ball is palm-sized and supports three speeds of vibration when you roll it over your muscles. Whether you’re in-flight, post-workout or at your desk, you can target muscles, with precision, such as the arms, legs, back or feet. It is USB-powered, has a two-hour battery and weighs under 500g.



Price: $99
</div><figure class="wp-block-media-text__media"><img loading="lazy" decoding="async" width="1024" height="973" src="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Hypersphere-Go-1024x973.png" alt="" class="wp-image-64060 size-full" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Hypersphere-Go-1024x973.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Hypersphere-Go-300x285.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Hypersphere-Go-768x730.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Hypersphere-Go.png 1404w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure></div>



<div class="wp-block-media-text is-stacked-on-mobile"><figure class="wp-block-media-text__media"><img loading="lazy" decoding="async" width="720" height="1024" src="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Dyson-Airwrap-i.d-720x1024.png" alt="" class="wp-image-64057 size-full" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Dyson-Airwrap-i.d-720x1024.png 720w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Dyson-Airwrap-i.d-211x300.png 211w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Dyson-Airwrap-i.d-768x1093.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Dyson-Airwrap-i.d-1079x1536.png 1079w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Dyson-Airwrap-i.d.png 1310w" sizes="auto, (max-width: 720px) 100vw, 720px" /></figure><div class="wp-block-media-text__content">
Dyson Airwrap i.d.



The Dyson Airwrap i.d. multi- styler and dryer is Dyson’s first Bluetooth connected hair tool. It pairs to a smartphone app for more personalized styling to automate the curling process using profile data such as hair type, length and skill level. The styler comes in two versions: for straight to wavy hair (T1-2) or for curly to oily hair (T3-4). The new Airwrap introduces three new attachments: the conical barrel, wave+curl diffuser, and blade concentrator.



Price: $599.99
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<div class="wp-block-media-text has-media-on-the-right is-stacked-on-mobile"><div class="wp-block-media-text__content">
Hobot S6-Pro



Hobot has released its irst window cleaning robot, the Hobot S6-Pro. The award-winning robot window cleaner is suited for framed, panoramic or frameless windows for an ei- cient clean-up. It has dual mops to polish and uses ultrasonic sprays for a streak-free clear inish. Safety features include an anti-falling algorithm, a safety rope and 20-minutes of back-up power. The microiber cleaning cloth is washable and the water tank replaceable, making it eco-friendly.



Price: ZAR7,999 ($438)
</div><figure class="wp-block-media-text__media"><img loading="lazy" decoding="async" width="1024" height="1001" src="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Hobot-S6-Pro-1024x1001.png" alt="" class="wp-image-64059 size-full" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Hobot-S6-Pro-1024x1001.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Hobot-S6-Pro-300x293.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Hobot-S6-Pro-768x751.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Hobot-S6-Pro-1536x1502.png 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Hobot-S6-Pro-2048x2002.png 2048w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure></div>



<div class="wp-block-media-text is-stacked-on-mobile"><figure class="wp-block-media-text__media"><img loading="lazy" decoding="async" width="711" height="1024" src="https://cms.forbesafrica.com/wp-content/uploads/2024/12/HidrateSpark-711x1024.png" alt="" class="wp-image-64058 size-full" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/12/HidrateSpark-711x1024.png 711w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/HidrateSpark-208x300.png 208w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/HidrateSpark-768x1106.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/HidrateSpark-1066x1536.png 1066w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/HidrateSpark.png 1276w" sizes="auto, (max-width: 711px) 100vw, 711px" /></figure><div class="wp-block-media-text__content">
HidrateSpark Pro Smart Tumbler 



The HidrateSpark Pro 590ml smart tumbler bottle stands out for its connected features. It syncs with Bluetooth to a paired smartphone and tracks water intake with reminders when to sip through its glowing feature on the base. It is vacuum insulated and keeps drinks cold for 14 hours and hot for four hours. It comes with a removable stainless-steel straw, supports the Find My Bottle feature to track it and integrates with fitness apps.



Price: ZAR1,799 ($98)
</div></div>



<div class="wp-block-media-text has-media-on-the-right is-stacked-on-mobile"><div class="wp-block-media-text__content">
VezoPay Ring



A South African company is redeining wearable tech through its payment ring that works with Visa and Mastercard on iOS and Android. The ring is available in black, pink, white, silver or gold, which goes up to 18K gold, in either a slim or wide cut and a matte or gloss inish. It requires no charging and is secured through an NFC tokenization that encrypts data. Durability includes impact resistance and it’s water- and dust-proof.



Price: from ZAR2,100 ($115)
</div><figure class="wp-block-media-text__media"><img loading="lazy" decoding="async" width="728" height="642" src="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Vezo-Pay-Ring.png" alt="" class="wp-image-64063 size-full" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/12/Vezo-Pay-Ring.png 728w, https://cms.forbesafrica.com/wp-content/uploads/2024/12/Vezo-Pay-Ring-300x265.png 300w" sizes="auto, (max-width: 728px) 100vw, 728px" /></figure></div>

Unwrapped Xmas present revealing tablet

Gifts For Geeks: What’s Next

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Almost half a million power bank chargers sold exclusively on Amazon over the last six years have been recalled after dozens of reports of the product expanding, igniting, melting, overheating or smoking while in use.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



The&nbsp;<a href="https://www.cpsc.gov/Recalls/2025/Charmast-Power-Banks-Recalled-Due-to-Fire-and-Burn-Hazards-Sold-by-Charmast-Exclusively-on-Amazon-com" rel="noreferrer noopener" target="_blank">recalled portable chargers</a>&nbsp;are powered by lithium-ion batteries and were sold under the brand name Charmast exclusively on Amazon for between $14 and $25 from December 2018 through September 2024.



Charmast has received 44 reports of the recalled power banks expanding, igniting, melting, overheating or smoking, and four customers reported receiving burns or blisters from the defective products, according to the U.S. Consumer Product Safety Commission.



The company&#8217;s recall says the products should be disposed of through local recycling centers for damaged or defective lithium batteries and should not be thrown out in regular garbage or in used battery recycling boxes because their defect poses a safety risk.



<h2 class="wp-block-heading" id="h-here-s-how-customers-can-contact-charmast-for-a-full-refund">Here’s How Customers Can Contact Charmast For A Full Refund</h2>



Customers can call Charmast from 10 a.m. to 3 p.m. EST Monday through Friday at 929-636-0293, email rcus@charmast.com or visit the company’s&nbsp;<a href="https://www.charmast.com/pages/recall-info-page" rel="noreferrer noopener" target="_blank">recall website</a>.



<h2 class="wp-block-heading" id="h-which-power-bank-chargers-have-been-recalled">Which Power Bank Chargers Have Been Recalled?</h2>



The defective products have “Model: W1056” printed on the back and were sold in black, blue, green, mint, pink and white.



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



Lithium-ion batteries contain flammable materials and can overheat, leading to fire or explosion. The batteries can&nbsp;<a href="https://www.nyc.gov/assets/fdny/downloads/pdf/codes/dangers-of-lithium-ion-batteries.pdf" rel="noreferrer noopener" target="_blank">re-ignite</a>&nbsp;without warning, even days after an initial fire has been put out, and can&nbsp;<a href="https://www.dfes.wa.gov.au/hazard-information/fire-in-the-home/lithium-ion-batteries#:~:text=Why%20do%20lithium%2Dion%20batteries,treated%20as%20a%20LiB%20fire." rel="noreferrer noopener" target="_blank">release</a>&nbsp;toxic, flammable and explosive gases. Last year, at least seven people were&nbsp;<a href="https://www.cnn.com/2023/03/09/tech/lithium-ion-battery-fires/index.html#:~:text=The%20problem%20with%20lithium%20batteries&amp;text=%E2%80%9CSo%20when%20a%20fire%20does,these%20devices%2C%E2%80%9D%20Kerber%20said." rel="noreferrer noopener" target="_blank">injured</a>&nbsp;in a five-alarm fire in New York City caused by a defective lithium-ion scooter battery, and the New York City Fire Department&nbsp;<a href="https://ul.org/news/ul-research-institutes-ul-standards-engagement-and-ul-solutions-commend-new-york-city-council" rel="noreferrer noopener" target="_blank">said</a>&nbsp;it responded to more than 200 e-scooter and e-bike fires—resulting in six deaths—in 2022. The U.S. Consumer Product Safety Commission said it&nbsp;<a href="https://www.cpsc.gov/Newsroom/News-Releases/2023/CPSC-Calls-on-Manufacturers-to-Comply-with-Safety-Standards-for-Battery-Powered-Products-to-Reduce-the-Risk-of-Injury-and-Death" rel="noreferrer noopener" target="_blank">received reports</a>&nbsp;from 39 states of at least 208 fires or overheating events that caused a reported 19 fatalities from Jan, 1, 2021 through Nov. 28, 2022.



<h2 class="wp-block-heading" id="h-crucial-quote">Crucial Quote</h2>



“Lithium batteries are generally safe and unlikely to fail, but only so long as there are no defects and the batteries are not damaged or mistreated,” Steve Kerber, vice president and executive director of Underwriters Laboratory’s Fire Safety Research Institute,&nbsp;<a href="https://www.cnn.com/2023/03/09/tech/lithium-ion-battery-fires/index.html#:~:text=The%20problem%20with%20lithium%20batteries&amp;text=%E2%80%9CSo%20when%20a%20fire%20does,these%20devices%2C%E2%80%9D%20Kerber%20said." rel="noreferrer noopener" target="_blank">told CNN</a>. “The more batteries that surround us the more incidents we will see.”



<h2 class="wp-block-heading" id="h-tangent">Tangent</h2>



The U.S. Consumer Product Safety Commission reported several other recalls Thursday, including one impacting about 63,000 batteries used in lawnmowers and other outdoor tools.&nbsp;<a href="https://www.cpsc.gov/Recalls/2025/Chervon-North-America-Recalls-SKIL-40V-50Ah-Lithium-Ion-Batteries-for-SKIL-Lawnmowers-and-Outdoor-Tools-Due-to-Fire-and-Burn-Hazard" rel="noreferrer noopener" target="_blank">Chevron North America</a>&nbsp;has recalled SKIL 40V 5.0 Ah Lithium-Ion Batteries after more than 100 reports of the batteries overheating, melting, smoking and lighting on fire, including eight reports of minor burns and/or smoke inhalation and 49 reports of related property damage. Also recalled Thursday were 85,000 silicone&nbsp;<a href="https://www.cpsc.gov/Recalls/2025/Melii-Baby-Silicone-Spoons-for-Babies-Recalled-Due-to-Choking-Hazard-Imported-by-Melii-Baby" rel="noreferrer noopener" target="_blank">baby spoon sets&nbsp;</a>from Melii Baby and about 500 Elongdi magnetic&nbsp;<a href="https://www.cpsc.gov/Recalls/2025/Magnetic-Building-Sticks-Sets-Recalled-Due-to-Ingestion-Hazard-Violation-of-Federal-Regulations-for-Toy-Magnets-Sold-Exclusively-on-Amazon-com-by-Elongdi" rel="noreferrer noopener" target="_blank">building stick sets</a>&nbsp;sold on Amazon.

Smartphones being Charge with Portable Power Banks

Power Bank Chargers Sold On Amazon Recalled After They Melted, Caught Fire

<a href="https://www.forbes.com/"></a><a href="https://www.forbes.com/search/"></a>Plus: A $13.2 Billion Shopping Day; Holiday Spending Predicted To Hit Record Levels, But With Slower Growth; Inflation Makes Shoppers More Likely To Use Credit; Avoiding Shopping Scams



<h4 class="wp-block-heading" id="h-this-is-the-published-version-of-forbes-ceo-newsletter-which-offers-the-latest-news-for-today-s-and-tomorrow-s-business-leaders-and-decision-makers-click-here-to-get-it-delivered-to-your-inbox-every-week">This is the published version of Forbes’ CEO newsletter, which offers the latest news for today&#8217;s and tomorrow&#8217;s business leaders and decision-makers. <a href="https://www.forbes.com/newsletter/ceo">Click here</a> to get it delivered to your inbox every week.</h4>



<hr class="wp-block-separator has-alpha-channel-opacity"/>



The holiday spending season is officially here. Shoppers are tapping mobile phones, typing on keyboards, and yes, even going into actual stores in search of gifts to make the darkest part of the year more festive.



While today’s shopping event—Cyber Monday—is really just a name for sales, it’s still enormous. (According to the&nbsp;<a href="https://www.pewresearch.org/internet/fact-sheet/internet-broadband/" rel="noreferrer noopener" target="_blank">Pew Research Center</a>, 96% of adults use the internet and 79% have a high-speed connection at home—a vast difference from the 2005 origin of the event, when people used their work computers to shop online.)&nbsp;<a href="https://capitaloneshopping.com/research/cyber-monday-statistics/" rel="noreferrer noopener" target="_blank">CapitalOne predicts</a>&nbsp;that holiday shoppers will spend $13.2 billion today. In 2023, 94 million people shopped online on Cyber Monday, which was a 26.5% bigger shopping day than Black Friday.



Since the holiday spending season brings so much business—according to the&nbsp;<a href="https://nrf.com/research-insights/holiday-data-and-trends/winter-holidays/winter-holiday-faqs" rel="noreferrer noopener" target="_blank">National Retail Foundation</a>, it’s driven an average of 19% of total annual sales for the last five years for retailers—we’re devoting Forbes CEO today to what retailers and shipping companies call the most wonderful time of the year. We’ve got statistics and projections about what consumers are likely to spend and how it can impact the economy. I also talked to Jim Yu, CEO of BrightEdge, about how Google’s AI is impacting e-commerce this holiday season.



Thanks so much for reading, and may your registers ring.



<h2 class="wp-block-heading" id="h-spending-projections">SPENDING PROJECTIONS</h2>



It’s high shopping season now, but the projections about how people were likely to spend have been coming out since August. The good news:&nbsp;All predictions have shown more spending this year. The not-so-great news: Many see slower growth than in the past.



According to the National Retail Federation’s annual holiday sales predictions in October,&nbsp;total retail sales are expected to increase 2.5% to 3.5%&nbsp;over 2023 levels.&nbsp;<a href="https://www.forbes.com/sites/joanverdon/2024/10/15/retail-group-upbeat-about-holidays-expects-980-billion-in-spending/">Forbes&nbsp;senior contributor Joan Verdon wrote</a>&nbsp;this is a modest increase but still would be a spending record, with shoppers expected to spend at least $25 billion more than last year. NRF President and CEO Matthew Shay said retailers are fairly upbeat and optimistic about the holidays, even though they’re concerned that shoppers will be more price-conscious.



Deloitte made a similar projection in September, expecting holiday spending to increase between 2.3% and 3.3%. Michael Jeschke, leader of Deloitte’s Retail &amp; Consumer Products Practice,&nbsp;<a href="https://www.forbes.com/sites/joanverdon/2024/09/12/moderate-holiday-sales-growth-of-23-to-33-forecast-by-deloitte/">told Verdon</a>&nbsp;in an interview about this forecast that they see a “return to normal spending” in 2024—more in line with the last 10 to 15 years in terms of growth than the previous three, which were all deeply impacted by the pandemic and its after effects. But still, Deloitte found that consumers plan to spend an average of $1,778 this holiday season—8% more than 2023—with the largest increases on experiences, decor and holiday clothing.



In August,&nbsp;Salesforce predicted online global holiday sales of $1.19 trillion, growth of just 2%&nbsp;from 2023’s $1.17 trillion,&nbsp;<a href="https://www.forbes.com/sites/joanverdon/2024/08/29/holiday-online-sales-expected-to-increase-2-to-119-trillion/">wrote&nbsp;Forbes&nbsp;senior contributor Joan Verdon</a>. Adobe’s online forecast, made about a month later in September, predicts a record $240.8 billion in online spending in the U.S., an increase of 8.4% over 2023,&nbsp;<a href="https://www.forbes.com/sites/joanverdon/2024/09/25/adobe-expects-record-online-holiday-sales-of-2408-billion-up-8/">Verdon wrote in another article</a>. Patrick Brown, Adobe’s vice president of growth marketing and insights, told Verdon that they anticipate consumers to do more splurging on bigger ticket items—and more deep discounts coming on them this year.



The spending got off to a rousing start last week.&nbsp;Black Friday online sales approached $11 billion—an increase of more than 10%,&nbsp;<a href="https://www.forbes.com/sites/joanverdon/2024/11/30/black-friday-online-sales-up-10-as-in-store-traffic-falls-8/">Verdon reported</a>&nbsp;from Adobe Analytics and Salesforce data. But there was a loser on Black Friday: actual stores. There was an 8.2% drop in in-store traffic, according to Sensormatic Solutions. Grant Gustafson, Sensormatic’s head of retail and analytics, told Verdon this was likely caused by retailers improving their online shopping experiences and spreading sales to the entire week.



<h2 class="wp-block-heading" id="h-economic-indicators">ECONOMIC INDICATORS</h2>



While analysts predict that more money will be spent this year,&nbsp;consumers have also borne the brunt of inflation for the last several years. Prices of most items, from food and fuel to gifts and experiences, are still a little more expensive—something that could make a big difference in what people spend.



<a href="https://www.forbes.com/sites/sharonedelson/2024/10/07/consumers-start-holiday-shopping-early-but-high-prices-on-essentials-drives-cutbacks/">Forbes&nbsp;senior contributor Sharon Edelson reported on</a>&nbsp;a survey from ESW at the beginning of October that found 61% of consumers said they planned to spend more than $600 this holiday season, but 47% said the&nbsp;high prices of food and fuel will lead them to spend less than they would otherwise.



Salesforce&nbsp;<a href="https://www.forbes.com/sites/joanverdon/2024/08/29/holiday-online-sales-expected-to-increase-2-to-119-trillion/">predicted back in August</a>&nbsp;that value will be top-of-mind for consumers this year, with&nbsp;one in five online purchases expected to be made on a Chinese-headquartered shopping app: namely Temu, Shein and TikTok. In August, 63% of consumers had made purchases from one of these apps during the previous six months, and half had already planned to buy from them during the holiday season. Salesforce said TikTok was likely to be the big winner; its customer base increased 24% between April and August.



Deloitte’s Jeschke&nbsp;<a href="https://www.forbes.com/sites/joanverdon/2024/09/12/moderate-holiday-sales-growth-of-23-to-33-forecast-by-deloitte/">said in September&nbsp;</a>that&nbsp;inflation is likely to have both a positive and negative impact on holiday spending. With decreased inflation comes an ability to spend more, but the prolonged period of inflation has eaten into many households’ savings, which could lead to more credit card debt.



An overwhelming majority of consumers—85.1%—said they expect to use credit&nbsp;or borrowing to make holiday purchases, according to Coresight Research’s Holiday 2024 Consumer Survey and Retail Outlook,&nbsp;<a href="https://www.forbes.com/sites/joanverdon/2024/11/18/why-shoppers-are-using-credit-cards-more-this-holiday-season/">Verdon wrote last month</a>. Four in 10 expect to put the majority of their spending on credit, and more than a third are using credit cards more than last year, according to Salesforce.



<h2 class="wp-block-heading" id="h-tomorrow-s-trends">TOMORROW’S TRENDS</h2>



<h3 class="wp-block-heading" id="h-how-google-s-ai-is-shifting-the-holiday-e-commerce-playing-field">How Google’s AI Is Shifting The Holiday E-Commerce Playing Field</h3>



It’s hard to miss the changes that Google has been making to its search results pages this year, especially when it comes to shopping. As the tech giant continues to improve its AI-powered search results, it’s doing more to impact what it shows to consumers. I talked to Jim Yu, CEO of SEO and content marketing firm BrightEdge, which keeps close tabs on what Google and other search engines are doing. I spoke to him about some of the changes and what they mean for businesses. This conversation has been edited for length, clarity and continuity.



What are some new things Google is incorporating in its e-commerce search results?



Yu:&nbsp;Google’s doing a lot in some of these commerce shopping queries [with] experimentation around YouTube. It makes sense if you think about multimodal content. If you are shopping for the new Sonos, buying a new iPhone or looking for a big screen TV, a lot of times people go to YouTube and find reviews. But it takes a lot of time to watch those videos.



Google’s AI overview automatically goes and looks at the video, watches the video, transcribes the video, then figures out what query is relevant for in search and summarizes. For example, if there are some pros and cons to buying something, it automatically looks at the video, along with regular reviews, and then summarizes that into the AI overview.



This is a very interesting hint into the future of AI. The last 18 months has been around large language models, which have been about just text. From a shopper perspective during the holiday season, you don’t have to watch all that stuff and spend a ton of time researching.



Is it doing a good job of picking credible reviews? I mean, anybody who wants to do a product review can, but I imagine that an editor at&nbsp;Consumer Reports&#8216; review might carry more weight than one from my neighbor.



I think they’re doing a relatively good job with this. It’s an interesting dynamic because on YouTube they have a lot more signals around content moderation. Bigger picture, you saw this evolution with AI overviews, where in the beginning it was using a lot of Reddit and Quora content—user-generated, creator-generated content, but with maybe less on moderation and authority. With YouTube, there are better controls and guardrails around the authority they ascribe to a creator.



What else has Google changed and added for the shopping season in terms of AI and search results?



There are larger AI overview panels. And by larger, I mean the real estate the AI overview takes now. We have not seen a lot of ads appear. I know they&#8217;re talking about that, [and because] the space that the AI overview is taking is increasing, that may be a precursor to having more real estate to add ads into that format.



You’re seeing more of the introduction of AI overviews at the top of search results, and a lot of times, integrating more details around the product so it’s a richer experience if you have a high-intent shopping query.



The product carousel, where in the AI overviews you can actually see different products, went up 300%. It’s not just describing products, describing attributes to consider, talking about the latest trends and things like that, but [it can] go ahead and show you the products that you can click through and buy. Those are going to be very important aspects heading into the holiday season.



What does this mean for CMOs and CEOs?



You’ve got to start analyzing this. If Google is important to your business, which for many people it is, especially as you head into the holiday shopping season, make sure you understand and monitor where AI is showing up in your portfolio of shopping keywords. If you have products [that would be in its] carousels, make sure that the product feeds you’re sending Google are in there, they’re timely, accurate and optimized because it’s pulling that right into the front of the AI. You want your image of your product and the information from your products to show up in that AI overview. And the best chance of that is making sure that you are feeding that directly into Google.



You also want to make sure you are very focused on the quality of the data and the content that you’re sending. Before, nobody was going to page two of the results. Now, you really want to be the trusted, accurate information that’s right in the AI portion at the top of that page.



One other thing I would [recommend], especially for shopping, is visual content. The trend here, especially in commerce, is people don’t just shop by looking at words. People are looking at pictures and videos and things like that. You want to make sure you are the source of that beautiful picture of that product and that is going to be another important element of winning in the AI-assisted shopping experience.

Google

How Google’s AI Is Changing E-Commerce For The Holidays

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



A federal appeals court has upheld a federal ban on TikTok that would make the app unavailable to American users starting in January, and while TikTok is&nbsp;<a href="https://www.forbes.com/sites/alisondurkee/2024/12/09/tiktok-asks-to-pause-ban-while-it-appeals-to-supreme-court/">doing all it can</a>&nbsp;to reverse the decision, users still have time to save their favorite videos before they potentially disappear.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



Using TikTok on desktop is the easiest way to save videos created either by a logged-in account or that have privacy settings that allow them to be downloaded.



Videos with the proper settings on TikTok.com can be downloaded to a desktop computer as .mp4 files by right clicking and choosing “Download Video” (if there is no download video option, the creator of the video has probably changed settings to stop third party downloads).



On mobile, videos can be saved by tapping the Share button in the lower-right corner of the screen when a TikTok video is pulled up, tapping &#8220;save video,&#8221; and choosing from the list of choices including options to send as an email attachment, upload to Google Drive or save locally to the device.



When downloading directly from TikTok, either on desktop or mobile, a one-video-at-a-time approach is the only option, but several third-party services offer to save more than one at once.



<a href="http://repurpose.io/" rel="noreferrer noopener" target="_blank">Repurpose.io,</a>&nbsp;a software company, allows creators to publish videos simultaneously across multiple platforms after they&#8217;ve been made in the TikTok app, and also has an&nbsp;<a href="https://www.tiktok.com/@thekeirajones/video/7345992968609811755" rel="noreferrer noopener" target="_blank">option</a>&nbsp;to download every video made on an account to Google Drive, allowing creators to save all of their work locally.



A Chrome web browser extension called&nbsp;<a href="https://chromewebstore.google.com/detail/myfavett-download-all-tik/gmajiifkcmjkehmngbopoobeplhoegad?pli=1" rel="noreferrer noopener" target="_blank">myfaveTT</a>&nbsp;promises to export all of a user&#8217;s liked and favorited videos to .mp4 files—and keep them sorted into folders as made within the app.



Get Forbes Breaking News Text Alerts:&nbsp;We’re launching text message alerts so you&#8217;ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to&nbsp;<a href="https://tel:2013350739/" rel="noreferrer noopener" target="_blank">(201) 335-0739</a>&nbsp;or sign up&nbsp;<a href="https://joinsubtext.com/forbes" rel="noreferrer noopener" target="_blank">here</a>.



<h2 class="wp-block-heading" id="h-what-to-watch-for">What To Watch For</h2>



How legal efforts around the TikTok ban, currently set to start Jan. 19, progress. The company&nbsp;<a href="https://www.forbes.com/sites/alisondurkee/2024/12/09/tiktok-asks-to-pause-ban-while-it-appeals-to-supreme-court/">on Friday&nbsp;</a>had its emergency motion for an injunction denied that would have stopped the ban from taking effect until the Supreme Court could decide whether to take up the case—and so President-elect Donald Trump could potentially step in to stop the ban after being sworn into office. Now, the company will have to appeal to the Supreme Court and the justices would have to issue a decision by Jan. 19.



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



President Joe Biden signed a TikTok ban into law in April after increasing concerns from lawmakers about data privacy and its Chinese ties. Although TikTok has long denied having any links to the Chinese government, the new law said parent company ByteDance would need to sell its stake in the social media platform to stop it from being banned in the United States. TikTok fought in court, arguing the ban infringes on the company’s First Amendment rights, but the U.S. Court of Appeals for the D.C. Circuit last week&nbsp;<a href="https://www.forbes.com/sites/alisondurkee/2024/12/06/tiktok-ban-upheld-in-court/">denied</a>&nbsp;its petition to review the law and upheld the ban. On Monday, TikTok filed an emergency motion for an&nbsp;<a href="https://www.forbes.com/sites/alisondurkee/2024/12/09/tiktok-asks-to-pause-ban-while-it-appeals-to-supreme-court/">injunction</a>&nbsp;asking the ban to be paused while it asks the Supreme Court to take up the case. That was denied Friday. In its filing, TikTok also said the pause would allow the Trump administration time to weigh in on the legal dispute. Trump reportedly wants to stop the TikTok ban, but how and if he could is still unclear. On Friday, members of&nbsp;<a href="https://www.forbes.com/sites/emilybaker-white/2024/12/13/congress-warns-apple-and-google-they-must-ban-tiktok-in-january/">Congress sent letters</a>&nbsp;to the CEOs of Apple, Google and TikTok reminding them that TikTok will need to be removed from app stores by Jan. 19.



<h2 class="wp-block-heading" id="h-how-would-a-tiktok-ban-actually-work">How Would A Tiktok Ban Actually Work?</h2>



It’s not completely clear how the banning of the application, which is used by about&nbsp;<a href="https://newsroom.tiktok.com/en-us/year-on-tiktok-2024" rel="noreferrer noopener" target="_blank">170 million</a>&nbsp;Americans, would work, but it’s unlikely it would simply disappear from the phones of U.S. users. Instead, the law would penalize internet providers and companies with App stores like Apple and Google for continuing to make updates available,&nbsp;<a href="https://www.nytimes.com/article/tiktok-ban.html" rel="noreferrer noopener" target="_blank">The New York Times</a>&nbsp;reported, so the app would degrade over time and become unusable.



<h2 class="wp-block-heading" id="h-can-changing-location-settings-help-avoid-the-tiktok-ban">Can Changing Location Settings Help Avoid The Tiktok Ban?</h2>



Yes and no. Even disabling location services or changing your location within TikTok is unlikely to stop the app from trying to infer an approximate location using other factors (like device settings), which may mean the ban still applies. Users who are able to use a virtual private network (VPN) to change their local IP address, however, may have a good chance of getting around the ban by rerouting their connection through another country. VPNs are&nbsp;<a href="https://www.ceotodaymagazine.com/2024/09/effectiveness-of-vpns-in-bypassing-censorship/#:~:text=VPNs%20bypass%20censorship%20by%20allowing,the%20desired%20content%20is%20accessible." rel="noreferrer noopener" target="_blank">often used</a>&nbsp;by people in countries with strict information laws to access censored information and websites.

In this photo illustration the TikTok logo seen displayed on

How To Save Your Favorite TikTok Videos—Ahead Of Possible Ban Next Month

Artificial intelligence (AI) holds transformative potential for Africa, but harnessing it responsibly is crucial. As AI increasingly integrates into various sectors, standards for robust governance frameworks are essential to ensure its ethical and beneficial use for all Africans. The United Nations University (UNU), recognizing both the potential and the perils of AI, is actively contributing to shaping a future where AI serves as a force for good across the continent.



While AI has the potential to revolutionize sectors such as agriculture, healthcare, and education, Africa’s unique challenges— ranging from digital divides to diverse cultural landscapes — demand tailored governance. Developing Africa-centric AI standards rooted in universal principles adapted to local contexts is imperative to address these challenges. This approach aligns with the South African Bureau of



Standards (SABS), which emphasizes the importance of context-specific standards that address regional needs while maintaining global relevance.



Several core principles should guide the development of standards for the ethical AI ecosystem. First, AI systems must be designed with human rights and dignity as their foundation. This principle is reflected in the work of entities such as the



Institute of Electrical and Electronics Engineers (IEEE), which has developed global standards for AI ethics that emphasize fairness, accountability, and transparency. Additionally, AI systems should respect Africa’s rich cultural and linguistic diversity, ensuring inclusivity and accessibility for all.



Second, explainable AI is crucial for building trust, particularly in sectors where AI decisions have far-reaching consequences.



Africa should emphasize transparency aligned with global standards such as those developed by the International Organization for Standardization (ISO), which advocates for clear documentation and accessible information about AI systems and their decision- making processes. Furthermore, lessons from the National Institute of Standards and Technology (NIST) highlight the importance of developing explainable AI models that non-experts can understand, ensuring transparency at all levels of society.



Third, establishing clear responsibility for AI outcomes is essential. The International Telecommunication Union (ITU) plays a significant role in this, providing guidelines that stress the importance of accountability in AI governance. UNU’s work on AI governance frameworks underscores the necessity for clear lines of accountability and mechanisms to address any adverse consequences of AI deployment.



The International Electrotechnical Commission (IEC) also offers valuable insights into safety standards and risk management, ensuring that AI systems operate reliably and are held accountable for their outcomes.



Fourth, AI’s benefits must be shared widely, bridging digital divides and preventing technology from exacerbating existing inequalities. This principle is closely aligned with the objectives of standards bodies such as SABS, which advocate for equitable access to AI technologies. The European Union’s AI Act ensures that AI deployment is inclusive, promoting social justice and protecting vulnerable populations.



Fifth, African nations must collaborate to harmonize regulations and share best practices, maximizing AI’s positive impact. UNU’s initiatives in fostering regional cooperation on AI are crucial in promoting such collaboration, ensuring that the benefits of AI are widely shared and that shared values and goals shape the continent’s AI landscape. Drawing lessons from the European Union’s collaborative approach to AI governance, Africa can benefit from a unified strategy that leverages regional strengths while ensuring alignment with global best practices.



Africa’s AI governance must be guided by robust frameworks that consider continental and global perspectives. The African Digital Compact (ADC) and the Continental Artificial Intelligence Strategy (CAIS), recently adopted by the African Union, are pivotal. These initiatives aim to create a cohesive and inclusive digital environment across Africa, ensuring that AI development and deployment align with the continent’s unique needs and aspirations. These frameworks help harmonize AI policies across African nations by setting clear standards and guidelines, fostering regional



cooperation and innovation. The ADC and the CAIS must be aligned with the Global Digital Compact (GDC) and High-Level Advisory Body on AI. The GDC emphasizes the importance of a human-centered approach to digital transformation, advocating for policies prioritizing equity, inclusivity, and sustainability.



The UN High-Level Advisory Body on AI provides strategic guidance on AI-related challenges and opportunities, ensuring that global AI standards are informed by diverse perspectives, including those from Africa. These frameworks collectively support the development of AI governance standards aligned with Africa’s specific context and resonating with global principles. By integrating insights from initiatives like the ADC and the GDC, African nations can ensure their AI policies are locally relevant and globally connected.



In conclusion, Africa stands on the cusp of an AI revolution. By prioritizing robust and ethical governance and leveraging the expertise of institutions like the UNU, the continent can harness this technology to drive sustainable development, reduce inequality, and create a brighter future for all. As AI continues to evolve, ongoing research, collaboration, and adherence to standards will be essential to ensure that this powerful tool truly benefits all African

AI (Artificial Intelligence) concept. Electronic circuit. Communication network.

Expert-Speak: Standards For AI Governance Are Necessary For Africa’s Flourishing Future

From the rainforest to the ocean, artificial intelligence is decoding nature’s most complex data patterns and is proving to be a game-changer in conservation.



For as long as there has been wildlife conservation, there has been a need for data. In order to understand ecosystem health, animal behavior and population trends, you have to be able to measure what’s going on in nature. And while there are many ways to do this, from drones to tracking devices, thermal cameras and even rangers on-foot, satellite imagery and camera traps have made study- ing wildlife movement a little bit easier. Not only can conservationists collect ample data, there’s minimal disturbance to animals. When it comes to analyzing the imagery, all that’s really needed is someone who can recognize an animal and there are many training programs to do just that.



But to really understand ecological trends, there are many creatures that are simply too small to be captured through pictures. “With very big animals like elephants, you can see them using satellite data which is great but a significant portion of the ecosystem is hidden,” says Dr Juan Lavista Ferres, who has worked in the field of artificial intelligence (AI) for over 20 years, and is the Chief Data Scientist of Microsoft’s AI for Good Lab. Luckily, those animals that are undetectable in satel- lite imagery make up for their size with sound, which is where acoustic data comes in – and in the case of ani- mal sounds, bioacoustic data. “From a noise perspec- tive, they are there,” laughs Ferres. “There is no corre- lation between the size of an animal and the sound it makes. Very small animals can make a lot of noise and can do very specific frequencies.”



<h1 class="wp-block-heading" id="h-nature-s-silent-signals">Nature’s silent signals</h1>



There’s huge potential in environmental recordings (bio- acoustics are important bioindicators —they are nature’s health signalers) and the good news is that a lot of the data is already available. At the AI for Good Lab, Ferres and his team have continuous surveillance recordings from the Amazon that go back to 1992. The problem is that there are only a handful of scientific experts who can understand what is going on when the data is visualized, and then interpret the frequencies to identify specific animals. “It’s extremely niche. In the case of bioacoustic data, you need a huge level of expertise and there are very few people in the world that can recognize these sounds and frequencies,” adds Ferres.



Another challenge is that going through all of this audio takes time. Ferres says that many of the record- ings he has run non-stop, day and night, for 365 days. “A person would need to be listening to these sounds for a whole year to get through just one year’s worth of data. Now imagine that you have multiple recordings in one forest?” There’s simply too much data for hu- mans to process manually, which is why AI is such a game-changer in conservation – it’s making research a much more efficient process. AI can learn from these experts to automate identifying and classifying animal sounds across large datasets. “We can go through all of the recordings and understand how the health of the ecosystem is changing,” says Ferrers. “Now that we have more compute and better models, we can work with these different types of data, whether it’s images, videos or acoustic data.”



<h1 class="wp-block-heading">Under the sea</h1>



One of the AI for Good Lab’s first projects using acoustic data was with endangered beluga whales in Alaska us- ing underwater sensors. “You can capture the sound of these whales, their vocalizations,” says Ferres. Because sounds travel much further than visual cues, with acous- tic data, researchers can detect (and even potentially identify) different types of whales over vast distances in the ocean, far beyond what would be possible with visual observation methods. “There are particular frequencies in the water that will be very difficult to detect without AI,” adds Ferres. “You can’t solve a problem if you can’t measure it. By doing this, we can actually start measuring the problem.”



Working with different industries and partners throughout the world, Ferres’ hope is that now that the information is in these AI models, more people will be able to use them to track animals over time. All the work that comes out of the AI for Good Lab is also open source which means all of the projects are freely available to re- searchers and organizations worldwide. “It’s a complete philanthropic effort. We give up the idea. We publish everything. All the work we do is for the societal good,” he says. “AI is not just the solution, but sometimes it’s the only solution we have.”

Botswana. Woman photographing giraffe in Chobe National Park with tablet.

Work On The Wild Side: How AI Is Helping Conservation In Africa And The Huge Potential Of Environment Recordings

With The Spurt In Healthtech, AI-powered apps Are Now All The Rage Offering Groundbreaking Interventions In Africa’s Battle against Rising Obesity Rates.



It’s an issue that affects a bulk of the continent’s population.



In Africa, where rising rates of obesity present a growing public health crisis, researchers and innovators are now turning to artificial intelligence (AI)-powered tools to combat the epi- demic. According to the World Health Organization (WHO), in 2022, 2.5 billion adults worldwide were classified as overweight, with over 890 million living with obesity. The problem is becoming especially urgent in low- and middle-income countries. In Africa alone, the number of overweight children under five has increased by nearly 23% since 2000, signaling a dramatic shift in public health needs across the continent.



One of the figures joining the battle against obesity through AI Richmond Essieku, a Ghanaian doctoral student at Texas Tech University. Essieku has reportedly identified 13 genes as potential biomarkers for obesity, with four of them already confirmed. His research is now being translated into a practical solution: an AI- powered mobile app, tentatively titled Generating Artificial Intel- ligence (AI) Based Algorithms to Model and Predict Genotype-by- Socioeconomic Status Interaction for Precision Obesity Detection. This app is designed to model the interaction between genetics and socioeconomic factors in order to provide a more accurate picture of obesity risk in individuals, particularly in Africa, where such nuances are often overlooked.



AI-powered tools like Essieku’s app are not the first examples of how AI can help address the complex factors contributing to obesity. Globally, AI has been used in various ways to combat obesity — from monitoring dietary habits to creating personalized fitness plans. In the United States (U.S.), platforms like Lark Health use AI to offer real-time health coaching, helping users monitor their eating habits and physical activity.



Similarly, Noom, a popular weight-loss app, uses AI to provide personalized advice and insights into user-behavior, which can lead to long-term lifestyle changes.



With the number of smartphone subscriptions in sub-Saharan Africa expected to reach 689 million by 2028, according to Statista, mobile technology offers a promising platform for AI-powered health interventions. AI-driven mobile apps can help individuals monitor their weight, track their food intake, and maintain healthy levels of physical activity. These apps can be tailored to include traditional African foods in dietary rec- ommendations, making them culturally relevant and easier for users to adopt.



The global applications point to the potential for similar systems tailored specifically to African contexts. Abideen Ola- supo, founder of MyAIFactchecker, an AI fact-checking platform based in Nigeria, highlights the importance of culturally-local- ized solutions. “We want to build people’s confidence in explor- ing how they can interact with AI to find safe and effective ways to combat obesity,” Olasupo tells FORBES AFRICA. “For a long time, many have turned to harmful concoctions that negatively impact their health. Africa’s unique challenges cannot be under- stood from the outside, which is why we’ve been researching the solutions people seek online. Obesity, in particular, is a sensitive issue that many feel ashamed to confront.”



MyAIFactChecker is one of several platforms working to ensure that AI solutions are tailored to Africa-specific chal- lenges. Olasupo explains that the platform sifts through different themes, including health and nutrition, to ensure that data is lo- calized and actionable. He notes that combating obesity in Africa requires integrating AI into the daily lives of Africans in ways that are culturally relevant and accessible.



AI’s ability to personalize interventions is especially critical when considering the unique challenges Africa faces in address- ing obesity. Many Africans live in ‘food deserts’ — areas where healthy food is difficult to find or too expensive to buy. Physical activity can also be limited by unsafe environments or long work- ing hours, making traditional approaches to weight-loss difficult to implement.



Africa’s healthcare infrastructure faces significant challeng- es, including a shortage of healthcare professionals and limited access to health facilities. AI is helping to alleviate these issues by offering remote monitoring and telehealth services for obesity management. In countries like Nigeria and Ghana, where access to healthcare is often limited, AI-powered remote health services could provide essential support to individuals looking to manage their weight.



AI-powered health apps are gaining popularity in Africa, also offering personalized recommendations for diet and exercise.



In Nigeria, the startup WellNewMe is using AI to provide us- ers with customized health assessments based on their lifestyle choices. The platform uses machine learning algorithms to ana- lyze users’ eating habits, physical activity, and medical history. It then generates recommendations to improve their health and reduce the risk of obesity-related conditions. For example, users can receive tailored meal plans, exercise routines, and lifestyle tips, all customized to their specific health profiles.



A similar initiative is underway in Ghana, where mPharma, a healthtech company, has developed the mymutti Mobile app. While primarily used to offer affordable medications, the app has recently integrated an AI-powered feature that tracks users’ body mass index (BMI) and offers recommendations for healthier liv- ing. Users receive customized tips on maintaining a balanced diet, increasing physical activity, and managing weight through simple lifestyle changes.



In Rwanda, AI is being used to improve access to healthcare in rural areas where obesity is on the rise. The Babyl Health plat- form, which uses AI to provide remote medical consultations, has been instrumental in helping individuals in rural communities access healthcare services. Through the app, users can consult with doctors about weight-related issues, receive prescriptions, and get referrals to local health facilities for further treatment.



Farming innovations to support the health sector



AI’s role in combating obesity extends beyond healthcare to the agricultural sector, where it is being used to improve the avail- ability of healthy, affordable food. In Nigeria, the startup Zenvus is leveraging AI to help farmers increase crop yields and reduce food waste. By using AI-powered sensors, Zenvus collects data on soil conditions, weather patterns, and crop health. This data helps farmers make informed decisions about when to plant, irri- gate, and harvest their crops, resulting in higher yields and more efficient food production.



Another example is FarmPin, a South African agritech com- pany that uses AI and satellite imagery to monitor crop health and predict food shortages. By analyzing data from farms across the country, FarmPin helps farmers optimize their production and ensure a steady supply of fresh produce to local markets. This, in turn, makes healthy food more accessible and affordable, reducing reliance on processed foods that are often linked to ris- ing obesity rates.



Public health experts are also optimistic about the potential of AI to offer scalable solutions for obesity prevention in Africa. Opeyemi Adam, a public health expert based in Lagos, explains that AI could help overcome some of the challenges of limited healthcare resources in many African countries. “Obesity is often thought of as a personal issue, but it’s deeply systemic,” Adam says. “AI offers a way to analyze large amounts of data and iden- tify trends that would otherwise go unnoticed, which is crucial in places where healthcare resources are stretched thin.”



Adam also points out that many Africans lack access to per- sonalized health advice, something AI could help bridge. “With AI, we could create more personalized health plans that take into account not just the individual’s body weight or fitness level, but also their lifestyle, environment, and even their genetic makeup,” he says.

Scientists Working on Powered Exoskeleton Project in Lab.

Weighing In On The Use Of AI In Helping Combat Obesity

<a href="https://www.forbes.com/"></a><a href="https://www.forbes.com/search/"></a>Hugging Face has become the launching pad for large language models but its popularity has also proven a draw for cyber criminals.



Security researchers Protect AI have found tens of thousands &#8220;malicious&#8221; models on Hugging Face, the Github for artificial intelligence.© 2023 Bloomberg Finance LP



Hugging Face, the primary online repository for generative AI, has hosted thousands of files containing hidden code that can poison data and steal information, including the tokens used to pay AI and cloud operators, according to security researchers.



Researchers from security startups ProtectAI,&nbsp;<a href="https://hiddenlayer.com/research/silent-sabotage/" rel="noreferrer noopener" target="_blank">Hiddenlayer</a>&nbsp;and&nbsp;<a href="https://www.wiz.io/blog/wiz-research-discovers-critical-vulnerability-in-replicate" rel="noreferrer noopener" target="_blank">Wiz</a>&nbsp;have warned for months that hackers have uploaded “malicious models” to Hugging Face’s site, which now hosts more than a million models available for download.



“The old Trojan horse computer viruses that tried to sneak malicious code onto your system have evolved for the AI era,” said Ian Swanson, Protect AI’s CEO and founder. The Seattle, Washington-based startup found over 3,000 malicious files when it began scanning Hugging Face earlier this year.



Some of these bad actors are even setting up fake Hugging Face profiles to pose as Meta or other technology companies to lure downloads from the unwary, according to Swanson. A scan of Hugging Face uncovered a number of fake accounts posing as companies like Facebook, Visa, SpaceX and Swedish telecoms giant Ericsson.



One model, which falsely claimed to be from the genomics testing startup 23AndMe, had been downloaded thousands of times before it was spotted, Swanson said. He warned that when installed, the malicious code hidden in the fake 23AndMe model would silently hunt for AWS passwords, which could be used to steal cloud computer resources. Hugging Face deleted the model after being alerted to the risk.



Hugging Face has now integrated ProtectAI’s tool that scans for malicious code into its platform, showing users the results before they download anything.



The company told&nbsp;Forbes&nbsp;it has verified the profiles of big companies like OpenAI and Nvidia starting in 2022. In November 2021, it began scanning the files often used to train machine learning models on the platform for unsafe code. “We hope that our work and partnership with Protect AI, and hopefully many more, will help better trust machine learning artifacts to make sharing and adoption easier,” said Julien Chaumond, CTO of Hugging Face in an email to&nbsp;Forbes.



The risk from malicious models has been substantial enough to warrant a joint warning from the United State’s Cybersecurity and Infrastructure Security Agency and Canada and Britain’s security agencies in&nbsp;<a href="https://media.defense.gov/2024/Apr/15/2003439257/-1/-1/0/CSI-DEPLOYING-AI-SYSTEMS-SECURELY.PDF" rel="noreferrer noopener" target="_blank">April</a>. The NSA and its British and Canadian counterparts cautioned businesses to scan any pre-trained models for dangerous code, and then only run them away from critical systems.



The hackers that have targeted Hugging Face typically inject rogue instructions into the code that developers download from the site, using it to hijack the model when it is run by an unsuspecting target. “These are classic attacks but they&#8217;re just hidden within models,” Swanson said. “Nobody would know that the model is doing these nefarious things and it would be incredibly hard for them to be able to trace that back.”



<a href="https://www.forbes.com/sites/kenrickcai/2022/05/09/the-2-billion-emoji-hugging-face-wants-to-be-launchpad-for-a-machine-learning-revolution/">Hugging Face</a>&nbsp;was last valued at $4.5 billion when it raised&nbsp;<a href="https://www.bloomberg.com/news/articles/2023-08-24/ai-startup-hugging-face-valued-at-4-5-billion-after-fundraising" rel="noreferrer noopener" target="_blank">$235 million</a>&nbsp;in August 2023. The eight-year-old startup founded by Clément Delangue, Julien Chaumond and Thomas Wolf pivoted from running a teenage-focused chatbot app to a platform for machine learning in 2018. It’s now raised $400 million to date and has been dubbed the Github for AI researchers.



“For a long time, AI was a researcher’s field and the security practices were quite basic,” said Chaumond. “As our popularity grows, so does the number of potentially bad actors who may want to target the AI community.”



Update: Protect AI clarified that the number of malicious models it found was in the thousands, not tens of thousands.

Hugging Face Illustrations As Nvidia Announces Partnership

Hackers Have Uploaded Thousands Of Malicious Files To AI’s Biggest Online Repository

South Africa’s first electric minibus taxi, eKamva, was unveiled at the Smarter Mobility Africa Summit in Johannesburg today.



It was launched alongside an integrated electric vehicle (EV) business model and charging infrastructure called ‘flx EV’.



The prototype electric minibus is a project by GoMetro, Powerfleet, formerly MiX Telematics, alongside electronics manufacturer HSW, ACDC Dynamics’ charging network, and Stellenbosch University’s Faculty of Engineering.



The 15-seater electric minibus has a 70kWh battery capable of a 200km range for commutes; and 80% of its battery recharges within 45 minutes from its 50kW DC charging support.&nbsp;



Justin Coetzee, CEO of GoMetro, tells FORBES AFRICA that the journey started two years ago, when the world started going electric. “We asked ourselves, why isn’t there an electric minibus?”



Most electric buses available were 9m in length, so after a challenging search across Europe and China, GoMetro eventually found a Chinese model that could be turned into a South African-specific minibus.



“If we’re going to electrify the minibus sector, we’re going to have to do it ourselves. This is a proudly South African project alongside our industrial partnerships,” says Coetzee.



The flx EV website will soon allow minibus taxi owners and operators to apply to be added to the waiting list, while the flx app will let owners manage fleets, monitor vehicle status, prepay for charging, and find its nearest charging hub.



GoMetro will be taking eKamva on a roadshow later this year, targeting taxi ranks, associations, and hubs in South Africa’s Western Cape.



“That to me is the highlight – the industry is at the start of the journey with us, so we have to make sure that whatever they want out of an electric taxi, we listen,” adds Coetzee.



GoMetro plans to build a hub at the Century City taxi rank in Cape Town, and Stellenbosch, and hopes to have its first 10 to 20 electric taxis operating by the second half of 2025.



“There’s a huge market of private sector van usage for people movement, which goes beyond the taxi industry that we will be addressing, such as staff transport, hotel shuttles etc, but first, we need to get our model right,” says Coetzee.



Rudi Kriel, transport economist and Head of Programme at GoMetro, shares that the eKamva will either be sold outright, through a leasing model or a different type of model, such as purchasing the vehicle but leasing the battery, so the buyer still owns the asset.



“The battery will stay in the vehicle, but the ownership remains with flx EV. You just pay a subscription fee per month to have access to the battery, charging facilities and the like; it’s a model commonly used in Africa,” says Kriel.



GoMetro hopes the taxi industry will adopt the new technology on the electric minibus, which would ultimately improve operations, with its claim of up to 70% lower monthly running costs.



“At the end of the day, the taxi industry are business people, right? If you give them something they can save money on, they will be interested. And that’s the plan here, to save people operating costs, and to improve the environment,” says Kriel.



While no pricing has been confirmed for the eKamva, Coetzee hints at a ballpark figure of between R1 million (approximately $57,730) to R1.5 million ($86,600).

Image supplied

‘A Proudly South African Project’: Start Of The Journey For The Country’s First Electric Minibus Taxi

Spatial computing isn’t here just yet but it’s coming and we need to be prepared. Globally-reputed tech futurist, Cathy Hackl, tells us more in an exclusive interview about the new hardware. 



The first time most people heard the term ‘spatial computing’ was when Apple unveiled its Vision Pro headset. With a hefty price tag and limited availability, this futuristic piece of technology quickly got everyone talking. Who would buy an Apple Vision Pro? Is it not just another virtual reality (VR) headset?


<div class="wp-block-image">
<figure class="alignleft size-full is-resized"><img loading="lazy" decoding="async" width="155" height="215" src="https://cms.forbesafrica.com/wp-content/uploads/2024/09/Untitled-1.png" alt="" class="wp-image-63153" style="width:195px;height:auto"/><figcaption class="wp-element-caption">Cathy Hackl</figcaption></figure></div>


“Most people don’t understand what spatial computing is,” says Cathy Hackl, a tech futurist and author who is often referred to as the ‘Godmother of the Metaverse’. “It is not one piece of hardware or one single technology.” Hackl explains that spatial computing isn’t VR or augmented reality (AR), it’s the future. “We are seeing an expansion of computing and an evolution of the web happening side-by-side. The convergence of all of these emerging technologies happening at the same time? That’s spatial computing.”



The computing evolution



Computing has already gone through an evolution so the fact that there’s something new shouldn’t come as a sur- prise. First, there were big, expensive mainframe com- puters that most people didn’t have access to. This was followed by the personal computer, a desktop that sat at your home or work.



“It was the first time that many of us engaged with a computer,” says Hackl. What followed next was mobile computing. Portable laptops and smartphones “and we now have a supercomputer in our hands that we don’t go anywhere without”, she adds. “What we’re starting to see now are other kinds of devices like facial computers, AI companions, smart glasses… but at the same time, the web is evolving. There was first the worldwide web which was followed by the mobile web and now we’re going into the spatial web – the metaverse.”



When you combine these three elements – advanced computing, spatial internet and new hardware being created – what you come out with is spatial computing. “It’s a 3D-centric form of computing that at its core uses AI computer vision, extended reality and a multitude of technologies to start to blend virtual content and experi- ences into someone’s experience of the physical world,” Hackl says, adding that spatial computing will not only alter human-to-human communication but also human- to-computer interaction.



And you can see this shift starting to happen with large language models (LLMs) and generative artificial intelligence (genAI). “For many years we have been adapting to technology but this time, it’s technology starting to adapt to us,” she says. “Spatial computing will result in new interfaces, software, hardware, data types and levels of connectivity. It’s not simply VR or the Vision Pro – that’s re- ductive and limiting. 



A new interface



Hackl anticipates that in the next 12 to 18 months, we’re going to see new hardware thrown at us – attempts at new form factors, new ways for people to interface with technology. She says that there will be big advancements in audio and smart glasses and although the mobile phone isn’t going anywhere just yet, there is a new form factor coming.



There are already companies like Magic Leap that are focusing on building spatial computing devices for the enterprise. Partnering with a mining company, they used their Magic Leap 2 headset as a worker training tool, overlaying key data into the physical world for immer- sive, real-time guidance. “With spatial computing, the physical world becomes the interface and that in itself is revolutionary,” says Hackl. “I think, in general, people are ill-prepared for what’s about to come.”



What’s next, says Hackl, is that we’ll be able to access data through spatial computing devices. “Accessing that data layer will be a huge step in human computer inter- action and it’s going to allow for more robots and autono- mous vehicles,” she says. AI plays a crucial role in this because in order to make use of big data, information has to be processed in real-time. This is how robots navigate the physical world; they use spatial intelligence and large action models (LAMs). The difference between a LLM and a LAM is that LAMs go beyond language by under- standing user intentions. LAMs can perform complex tasks through direct interactions with various applica- tions and systems.



Convergence, not AI



Although Hackl insists that spatial computing is still years away, we need to be ready for its impact. The line between the physical and virtual world has already starting to disap- pear if you take into account what people are spending their money on. For the generation coming up, virtual assets (like buying Robux, Roblox’ in-game currency) already have more value than physical assets. To reach this demographic, companies like Walmart have created entire worlds inside Roblox where an item purchased in-store will have a digital twin inside the game. Hackl, who was Walmart’s metaverse advisor in-residence, helped them with this project: “They’re starting to think about this new customer who wants to consume content as well as products and services.”



To prepare for spatial computing, Hackl advises that businesses don’t buy a hundred Apple Vision Pros. While it is what she calls an ‘early’ spatial computer, the headset will evolve and other technology brands will follow. “A couple of decades ago AI was in this evolu- tionary phase and now it’s revolutionary. Spatial com- puting is now evolutionary but it will be revolutionary,” says Hackl. “AI seems to be the word of the year but I think it should be convergence because that’s what we’re truly seeing – a convergence of all of these incred- ible technologies.”

metaverse

The Computers Of The Future And Insights From The ‘Godmother Of The Metaverse’

Xtalpi, a Shenzhen-based AI drug discovery company, saw its shares soar 108% on the Hong Kong stock exchange over the past week, boosting its market cap to $5.5 billion.



The stock price rise comes on the back of&nbsp;<a href="https://www.xtalpi.com/en" rel="noreferrer noopener" target="_blank">Xtalpi’s&nbsp;</a>sales growth and its more than $135 million deal with Chinese billionaire&nbsp;<a href="https://www.forbes.com/profile/zhu-gongshan/">Zhu Gongshan’s</a>&nbsp;energy company GCL Group.



Known formally as QuantumPharm, the Hong Kong-listed company posted a 28% year-over-year rise in revenue to 102.6 million yuan ($14.4 million) in the first half of 2024, the company said in a filing last Wednesday. Xtalpi attributed the sales growth to the increased number of customers of its AI-powered drug discovery services. Its customers include Pfizer, Johnson &amp; Johnson, Sino Biopharmaceutical subsidiary Chia Tai Tianqing Pharmaceutical Group and CK Life Sciences, the biotech arm of Hong Kong billionaire&nbsp;<a href="https://www.forbes.com/profile/li-ka-shing/">Li Ka-shing’s</a>&nbsp;CK Hutchison Holdings.



Part of the revenue growth came from its first-ever milestone payment, at an undisclosed amount, from Signet Therapeutics, a Chinese biotech startup backed by Xtalpi and Forbes Midas Lister&nbsp;<a href="https://www.forbes.com/profile/richard-liu/">Richard Liu’s</a>&nbsp;5Y Capital. The milestone payment came after a potential drug the two companies co-developed for diffuse gastric cancer, a form of stomach cancer, received approval from the U.S. Food and Drug Administration to begin human clinical trials.



Xtalpi’s net loss, however, widened 46% to 1.3 billion yuan in the first six months of 2024 from the previous year. The company said it’s due partly to the drop in interest income and an increase in expenses such as the listing fees. Xtalpi has continued to invest heavily in research and development, spending 210.4 million yuan in the first half of the year, though that’s roughly 10% less from the previous year.



Meanwhile, Xtalpi in late August entered into a five-year partnership with Chinese energy and power company GCL Group in a deal worth more than $135 million. Under the collaboration, the two companies will jointly research and develop new materials in areas such as lithium-ion batteries, which are used in electric vehicles.



Cofounded by Wen Shuhao, Ma Jian and Lai Lipeng—three Chinese quantum physicists from the Massachusetts Institute of Technology—Xtalpi combines AI, quantum physics, cloud computing and robotic automation to find novel molecules that could be developed into new medicines. Its drug candidate for primary hyperoxaluria, which causes kidney stones, is set to enter clinical safety evaluation for human in Australia in the first half of 2025, Xtalpi said.



Recently, Xtalpi has also expanded into discovering new chemical compounds for applications such as agriculture, cosmetic, healthcare, as well as petrochemicals and new materials for EV batteries.



The company has attracted investors from the likes of Tencent, Chinese billionaire&nbsp;<a href="https://www.forbes.com/profile/neil-shen/">Neil Shen’s</a>&nbsp;Hongshan (formerly Sequoia China), 5Y Capital, Google, U.S. billionaire&nbsp;<a href="https://www.forbes.com/profile/jeff-yass/">Jeff Yass’</a>&nbsp;Susquehanna International Group, Chinese tycoon&nbsp;<a href="https://www.forbes.com/profile/tse-ping/">Tse Ping’s</a>&nbsp;Sino Biopharmaceutical and SoftBank’s Vision Fund 2, among others.



Xtalpi was the first to go public under a Hong Kong new listing rule for specialist technology companies with smaller market cap and lower revenue, which was introduced more than a year ago to revive the city’s sluggish IPO market. After raising HK$989.3 million ($126.7 million) in its IPO in June, Xtalpi is set to be included as a constituent stock of Hong Kong’s benchmark Hang Seng Index on Monday.

Doctor holding tablet showing brain human and body anatomy futuristic technology

Tencent-Backed AI Drug Researcher Xtalpi’s Shares Double On Revenue Rise

Do You Prefer AIOr The Personal Touch? Some Insights On How Africa’s Hotel Sector Is Set To Welcome A New Era Of Hospitality.



Artificial intelligence (AI) is changing the economic landscape and expected to boost global GDP by trillions of dollars in the coming years. It is one of the most significant commercial opportunities in the world. But how will it play out in the hospitality and tourism industry?



According to HotelTechReport’s State of Hotel Guest Technology Report 2024, 70% of the 400 hotel guests they surveyed said they still prefer the human touch when managing complex queries and 65% would like the technology in their hotel to be more advanced than what they have at home.



It’s a knife edge – on one hand, people are the heart of hospitality, on the other, ignoring the value of AI can potentially impact a hotel’s future. If a hotel can’t offer personalization, experience enhancement, chatbot support and AI-curated services, will it be left behind? Or will this make it an oasis where the lack of technology is the value-added service, whilst AI runs in the background, smoothing over the bumps and easing guests into their experiences?



Some hotels have already stepped into technology with immersive experiences and digital room replicas. “We launched our first use of AI for our meeting experiences called Meetings Unbound,” says Stephanie AbouJaoude, Senior Area Director of Marketing &amp; Communications – Middle East, Africa, Turkey &amp; Mediterranean at the Radisson Hotel Group. “We’ve leveraged AI technology to offer these creative and visual meeting experiences for our delegates.”



This is very much in line with what is being described as the ‘era of hospitality’ where personalization, engagement, human connections, and the co-creation of experiences are becoming the standards against which hospitality is measured.



There is a need for data, insights, and emergent technologies to provide the sector with the tools they need to ensure they meet the expectations of an increasingly discerning traveler.



“You have to ensure the guests you’re attracting are delivered what they’re expecting. Personalized experiences are absolutely essential, everyone wants that Instagram image, that experience,” says Neil Hughes, Managing Director, Providence Hotels, who also points out that while he does use a digital ecosystem to connect with customers, the use of AI remains at the base level. “I think people need human interaction. AI is cold – no matter how you load it with chatbots and virtual assistance, you will never achieve the personal level you can with a human on the phone. AI is valuable and absolutely can support personalization, but we’re not at a level where we will turn an AI engine on and it can handle everything from campaigns to customer service.”



A warm greeting and shining eyes.



Certainly, this is what most people would prefer rather than being caught up in a tangle of technology which is invariably frustrating and complex. Is AI ready to use the technology?



“The truth is AI is in use by the hospitality sector in Africa, and it is being used in really interesting ways,” says Chris Godenir, General Manager of Dream Hotels’ Peninsula All-Suite Hotel in Cape Town, South Africa. “We’re using it extensively in our back-end to manage check-ins, applications, arrival emails, questionnaires, WhatsApp conversations – we always provide people with the option to turn to a human, but we use the AI to the best of our ability in our business.” While AI is not comprehensively in use by hotels across the continent, it’s not an unknown entity. As Jerry Mabena, CEO: Motsamayi Tourism Group, says: “There are two types of guests in Africa – the more established, older market and the younger generation looking for unique opportunities. The latter is where I see AI playing a big role, engaging with this technology-savvy market and curating experiences for them. AI allows us to start moving into a space where we can draw in a wider number of people by creating iconic, African experiences.”



He adds that people are also now traveling for a purpose, seeking out experiences that allow them to touch the earth lightly and AI can help the industry prioritize and meet these expectations more effectively. However, there is a need to look ahead at how AI may negatively impact the sector. It’s not a plug and play solution and it brings with it a host of risks – some expected and some unexpected.



As Noor Kapdi, Chief Executive Officer and Chairperson Africa for law firm Dentons, concludes: “The AI industry isn’t regulated in Africa, it’s hardly regulated in other parts of the world, and this creates both opportunity and risk. There’s the ethics of it – if we know how people sleep, how they like their coffee in the morning, these are deeply personal insights and managing this privacy is challenging. The only way it will be measured is through the ethical standards of each country, and we have yet to see how AI will manifest in the hospitality industry or what the consequences will be.”



AI can ease the burden of back-end admin, smooth over the wrinkles in customer engagement, simplify customer onboarding and reimagine their experiences, but it is still so new, untested, and fresh that hotels stepping forward into its potential should approach it with a balance of caution and innovation. It is not a technology leaving Africa in its dust – the sector is very much aware of what AI can do. Perhaps, instead, it is Africa that would like it to remain in the dust, for just a few more spectacular sunsets.

Smart Robot Assistant On Reception

Hospitable Tech? Africa’s Hotel Sector And AI-Based Hospitality

Coaching programs that rely on artificial intelligence are cheap, accessible and increasingly popular for practicing tough workplace conversations or getting tips for negotiating a raise. But privacy questions and skepticism over the quality of non-human answers could slow adoption.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



You’ve trusted artificial intelligence&nbsp;to plan a vacation itinerary, write a cover letter for a new job and even&nbsp;<a href="https://www.forbes.com/sites/alexandralevine/2024/02/14/dating-apps-ai-chatgpt-tinder-hinge-bumble-match/#:~:text=YourMove%20AI%20bills%20itself%20as,and%20generate%20dating%20photos%20compatible">flirt on your behalf with your next date</a>. But would you trust it with career advice?



A growing number of businesses are betting you will. Coaching or workforce learning platforms like BetterUp, Multiverse and LinkedIn—as well as startups like Valence and Wisq—are only some of the AI-powered coaching chatbots entering the market.



During a time of layoffs and budget cuts, as companies seek to help workers hone their interpersonal skills, AI is emerging, ironically, as a cheaper and more accessible alternative to traditionally high-cost human coaching.



AI coaching refers broadly to a variety of apps and programs that are powered by generative AI technology and provide advice about tricky situations or career challenges. Users query a chatbot and get real-time, interactive feedback on everything from the best way to negotiate a raise to how to search for a new job to how to delegate work or give feedback to teammates.



This is still a relatively niche business—Gartner’s HR practice tells&nbsp;Forbes&nbsp;it is still too small of a market to measure—but both employers and workers are starting to embrace it. Its emergence comes at a time when more people and companies are seeking help with career development, and understandably so. In an economy where fewer people are quitting or changing jobs, workers are nervous about promotion opportunities. Meanwhile, many also feel frustrated by a lack of hands-on management training during the pandemic or concerned about how AI is already reshaping job descriptions and making some of their skills obsolete.



Some 47% of companies surveyed by LinkedIn for its&nbsp;<a href="https://learning.linkedin.com/content/dam/me/business/en-us/amp/learning-solutions/images/wlr-2024/LinkedIn-Workplace-Learning-Report-2024.pdf" rel="noreferrer noopener" target="_blank">2024 Workforce Report</a>&nbsp;said they are investing in career mentoring and coaching for their workforce, and a survey by Gartner found that 42% of employees would be comfortable asking an AI coach about the next steps in their career. Another survey by&nbsp;<a href="https://www.intoo.com/us/blog/unlocking-organizational-success-report-press-release/" rel="noreferrer noopener" target="_blank">INTOO</a>, a career and outplacement firm, found that nearly half of respondents aged 21 to 26 think they get better advice from AI, including ChatGPT, than from their managers.



So it’s no surprise that startups are attracting investments and companies are rolling out new products. For example, in June, Menlo Park, Cal.-based Rising Team closed an&nbsp;<a href="https://www.prnewswire.com/news-releases/rising-team-raises-8-million-series-a-and-introduces-personalized-ai-leadership-coach-for-building-high-performing-teams-302165554.html" rel="noreferrer noopener" target="_blank">$8 million</a>&nbsp;seed round that it’s using in part to add an AI leadership coach,&nbsp;<a href="https://risingteam.com/#aRTiHelps" rel="noreferrer noopener" target="_blank">aRTi</a>, to its team performance platform. Management AI coaching tool Wisq, which has raised over $40 million in funding since May 2021,&nbsp;<a href="https://www.prnewswire.com/news-releases/wisq-launches-first-personalized-ai-guide-for-managers-302113194.html" rel="noreferrer noopener" target="_blank">launched a new program</a>&nbsp;aimed at mid-level managers in April.



“Employers are all over it,” says Ujjwal Singh, chief technology and product officer at London-based apprenticeship startup Multiverse, adding that 64% of its customers now use its AI career coach. That’s up 15% from last quarter. “They’re really pushing this hard.”



Yet even as demand rises, AI career coaching faces hurdles to widespread adoption, including concerns some workers may have about the privacy of employer-provided sessions and questions about the quality of tools’ responses. More customized responses rely on personal information users may be hesitant to give—and on the real-life experiences that human coaches can draw upon when counseling clients.



Some early research suggests that in some scenarios, AI coaching can be as effective as the human version. For example, a study&nbsp;<a href="https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0270255" rel="noreferrer noopener" target="_blank">published</a>&nbsp;in the journal PLOS found that research groups using human coaches and those using AI coaches were just as efficient when it came to reaching set goals.



But at this point, skepticism is still warranted. “We&#8217;re a long way from a typical human being wanting [coaching] from a machine,” says Joseph Fuller, a Harvard Business School professor who co-leads its Managing the Future of Work initiative. But, he adds, given the rapid improvements in AI, “it’s pretty dumb to bet against them.”



This much is for sure:&nbsp;AI coaching is a lot cheaper for employers than the human variety, which, with an average cost of&nbsp;<a href="https://coachingfederation.org/app/uploads/2023/04/2023ICFGlobalCoachingStudy_ExecutiveSummary.pdf" rel="noreferrer noopener" target="_blank">$244 an hour,</a>&nbsp;has typically been provided only to companies’ top performers or senior executives. (For comparison, Wisq charges between $50 and $150 per user per year for a combination of human and AI coaching.) It&#8217;s also designed to be accessible, with several AI coaches integrated directly into apps most workers use daily, such as Slack or Microsoft Teams.



In 2023, the American market for coaching was worth $14.2 billion, according to market research firm IBISWorld. During the pandemic, Zoom enabled coaches to take on remote clients, expanding their client base further, points out Carlos Cuadrado Ortiz, an associate principal and coach at consulting firm Korn Ferry.



AI could be a big accelerator for the industry, enabling companies to provide coaching to more employees and human coaches to serve more clients by using AI tools to address the simplest questions. That explains why some big career businesses are adding AI features or acquiring smaller startups. LinkedIn, for instance, launched an AI virtual coach in October that helps users find new jobs personalized to their profile. The AI coach’s answers pull from large language models that are&nbsp;<a href="https://www.forbes.com/sites/mariagraciasantillanalinares/2024/06/13/linkedin-releases-ai-resum-and-cover-letter-help-for-premium-users/">trained</a>&nbsp;on advice provided by a handful of human coaches who earn royalty fees.



In March, BetterUp, a coaching and mental health platform that has reached&nbsp;<a href="https://www.forbes.com/sites/katiejennings/2021/06/07/venture-funding-for-mental-health-startups-hits-record-high-as-anxiety-depression-skyrocket/">unicorn</a>&nbsp;status (it was last valued at $4.7 billion in 2021 according to Pitchbook), acquired Practica, an early AI coaching provider, to grow its own AI offerings. (The company still offers human coaching to all users.) The new AI services include a “role play” function that lets users practice conversations with a voice-prompted chatbot about thorny topics, such as asking for a raise or sharing critical feedback. The AI might tell a user, for example, that they sounded defensive when delivering bad news or too nervous when making a case for a promotion.



Meanwhile, startups like Toronto-based&nbsp;<a href="https://www.valence.co/" rel="noreferrer noopener" target="_blank">Valence</a>&nbsp;and Paris-based&nbsp;<a href="https://coachello.io/" rel="noreferrer noopener" target="_blank">Coachello</a>&nbsp;added AI chatbots to their online coaching services last year. Grettel Seiger, a leadership development manager based in Basel, Switzerland, started trying out Coachello with a small group of employees a month ago and says it’s been a way for colleagues to get help earlier in their careers without the high cost.



Those who’ve started using it have opened up about the dilemmas they face, she adds, noting “you don’t feel judged” like you might with some managers. Asking the AI chatbot follow-up questions has also helped her define exactly what help she needs. “The whole process became cathartic,’’ she says.



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But good coaching,&nbsp;and good advice, is rarely about quick answers; it relies on probing questions—or in AI speak, collecting more data. “Coaching is about guiding someone in a certain direction, [or] nudging people,” says Multiverse’s Singh. “I don’t think AI is quite there yet” when it comes to complex, relationship-focused questions, he adds.



At a broad level, some AI tools have been known to&nbsp;<a href="https://www.forbes.com/sites/rashishrivastava/2024/07/11/this-ai-powered-coach-catches-hallucinations-in-other-ai-models/">make up answers</a>&nbsp;or at times give&nbsp;<a href="https://www.forbes.com/sites/cyrusfarivar/2024/07/23/target-employees-hate-its-new-ai-chatbot/">wrong information</a>. Massara Almafrachi, a third-year law student at Western New England Law School, says that asking an AI chatbot for career advice has resulted in confusing and irrelevant answers. “I’m already confused about my career,” she says. “AI [only] throws me in a bigger loop.”



Katie Kirsch, the founder of a coaching company called Lume and a 2024&nbsp;<a href="https://www.forbes.com/profile/katie-kirsch/">Forbes&nbsp;Under 30 listmaker</a>, says she may one day incorporate AI features into her platform. But earlier this year she tried out AI tools herself and found the advice lacked nuance: &#8220;The kinds of conversations [my human coach and I] had felt impossible to replace in the AI format.&#8221;



AI chatbots, after all, are only as powerful as the quantity and quality of the data they have been fed, and how well the tools are built. To provide a personalized approach, AI coaching companies must successfully coax users to divulge specific, personal information, says Harvard’s Fuller. “You end up having this chicken-or-the-egg problem of not having access to a lot of data until you’ve got the quality that you can only get by having a lot of data,” he says.



Then, there’s the question of sensitive information. Most AI coaching companies offer their services directly through employers, which could make users leery of asking what they really want to know. How many employees who want advice on leaving a job or dealing with a toxic boss would feel comfortable entering those questions into a chatbot offered by their employer?



AI coaching providers respond that confidentiality agreements prevent the tools from sharing personal details with employers, and any reports generated for employers show only aggregate and anonymized results. (Some, such as BetterUp, also say users can opt out of having their data train language learning models, while others, such as Valence,&nbsp;<a href="https://support.valence.co/en/articles/9100961-valence-s-ai-coach-nadia-introduction-and-faqs#h_06ffdb4c89" rel="noreferrer noopener" target="_blank">say</a>&nbsp;it does not use employee conversations with its chatbot to train its models.)



Meanwhile, “workers are generally aware that a company-provided tool is tailored to enhance the company’s goals, which don’t always align with theirs,” says Hatim Rahman, management professor at the Kellogg School of Management at Northwestern University, who studies AI’s impact on employment.



Despite potential privacy fears and the fact that AI coaching models still have a lot to learn, tech-savvy workers are increasingly embracing them. “There is no judgment built directly into the tool,” says Michael Woodward, director of New York University’s Coaching Innovation Lab. “It’s purely mathematical.”



In addition to Gen Z workers, another unexpected demographic has become an unlikely power user of AI coaching: Middle-aged men. Multiverse reports it is seeing the most growth among people aged 40 and up; as of June, 46% of eligible employees older than 40 used Atlas, its AI-powered coaching service, compared to only 31% of users 24 and under.



Men in their 40s are one of the largest groups using BetterUp’s AI coaching feature, too. “These are [groups] where coaching may still be stigmatized,” says Moritz Sudhof, vice-president of AI at BetterUp. But if given the chance to share their career dilemmas with a chatbot, they’re actually “ready to open up and bare their weaknesses and problems.”

Chatbot concept. open AI, Artificial Intelligence.

Your Next Career Coach Could Be A Chatbot

Navigating the complexities of our future is big business – and big money. Here are some of the more eminent global futurists offering fresh insights into future tech and a better tomorrow.



At the South by Southwest (SXSW) festival in Austin, Texas, there’s one particular session where people start queueing around four in the morning to get a seat. It’s not one of the big-name music performances or a movie screening with awards buzz, it’s a keynote by Amy Webb.



Webb, who is the founder and CEO of the Future Today Institute (FTI), is a futurist. She’s a professor of strategic foresight, a data and research-driven field that unpacks what could be in an increasingly complex world. Webb’s 2024 Tech Trends Report, which is downloaded more than a million times every year, is made up of just under a thou- sand pages of insights businesses rely on to navigate the future.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
IN HER TALK AT SXSW, AMY WEBB SAID THAT THE NEXT STAGE OF AI IS MERGING DIGITAL SUPERCOMPUTERS WITH HUMAN TISSUE. THIS IS SOMETHING WEBB REFERS TO AS ORGANOID INTELLIGENCE, OR O-AI. SHE PREDICTS THAT BY 2039, O-AI WILL BECOME THE FOREFRONT OF COMPUTATIONAL EVOLUTION, MERGING HUMAN-LIKE DECISION-MAKING CAPABILITIES WITH THE SPEED OF TRADITIONAL COMPUTERS. IN SIMPLE TERMS, WEBB SAYS THAT WE WILL BE ABLE TO MAKE BIOCOMPUTERS OUT OF HUMAN BRAIN CELLS – WE WILL GROW COMPUTERS RATHER THAN BUILD THEM.
</blockquote>



Predicting what comes next may be big business but it’s not necessarily new. While modern futurists use data to forecast pos- sible future scenarios and spot emerging opportunities, the science of probability – long-term planning – has been around since the 1940s. And before futurology became an academic field and job role, science fiction authors like H.G. Wells, Jules Verne and Arthur C. Clarke, were recognized as futurists with an uncanny ability to foresee the world to come. Today, there are a number of well-known futurists sought out by industry giants (and the government) to steer business strategy and adapt to disruptive change. Businesses are hiring futurists to tell them the things they don’t want to hear so that they can prepare for unfore- seen inevitabilities.



Meet the futurists



As the founder of Singularity University and the XPRIZE Foundation, Peter Diamandis is a Silicon Valley digital futurist and engineer who has started over 25 companies. Now in his 60s, Diamandis (whose net worth has been reported to be around $200 million) has many innova- tive projects underway. While tickets to attend his membership-only Abundance Summit begin at $10,000, Diamandis is attempting to change the world with his large-scale XPRIZE competitions that tackle domains like climate, space, biodiversity and deep tech. According to the Key Speakers Bureau, Diamandis’ speaking fee starts at $60,000 – and that’s for a virtual, not in-person, appearance.



As artificial intelligence (AI) becomes more and more popular, there’s a good chance that futurist Ray Kurzweil will be mentioned. Kurzweil, who has received 20 honorary doctorates is a computer scientist and futurist with a 30-year track record of accurate predic- tions – his written predictions, of which there are 147, have an 86% accuracy rate. Kurzweil’s first predictions around AI came out in 1999 and while many people felt that his views were radical when he said that computers would be as intelligent as humans, his estimated date of 2029 doesn’t seem so far off. Kurzweil’s net worth is reportedly around $30 million, most of which comes from the four companies he success- fully founded based on his research and academic prizes. One of his boldest predictions is that immortality will be achievable by 2030 with nanobots – tiny robots that can repair human bodies on a cellular level.



In an interview, he famously said: “By the time we get to the 2040s, we’ll be able to multiply human intelligence a billionfold. That will be a profound change that’s singular in nature. Computers are going to keep getting smaller and smaller. Ultimately, they will go inside our bodies and brains and make us healthier, make us smarter.”



Webb, who has been called ‘one of the five women changing the world’, recently wrote a book called The Genesis Machine with fellow futurist, Andrew Hessel. The book, which won a Gold Axiom Medal, explores synthetic biology, a controversial and emerging techno-science. Biotech, which is something both Webb and Hessel focus on, was a key part of Webb’s 2024 Tech Trends Report. In her talk at SXSW, she said that the next stage of AI is merging digital supercomputers with human tissue. This is something Webb refers to as organoid intelligence, or O-AI. She predicts that by 2039, O-AI will become the forefront of computational evolution, merging human-like decision-making capabilities with the speed of traditional computers. 



In simple terms, Webb says that we will be able to make biocomputers out of human brain cells – we will grow computers rather than build them. Hessel is a pioneer in synthetic biology, microbiologist, geneticist and futurist. He is also the co-founder of a company called Hu-mane Genomics Inc. that engineers synthetic viruses to target cancer cells. “Biology is a very different medium than computing but there are fundamental similarities,” he wrote in a blog post talking about synthetic biology in Af-rica. “Africa is geographically well-positioned to benefit from synthetic biology. Much of the country is in the biological power band of the world, blessed with ample sunlight, fresh water, fertile soils, and incredible biological diversity. But it is also vulnerable to changes in climate, particularly shifts in rainfall and heat waves,” he continues. Hessel has seen first-hand how AI tools are supercharging all aspects of digital biology and predicts that DNA printers are on the cusp of a major upgrade. He believes that in the next five years, we will be able to print and assemble microbial-scale genomes — at reasonable cost and turnaround times.



In the workplace



No matter whether you call them futurists, fu-turologists, foresight practitioners or horizon scanners, it’s becoming increasingly common for organizations to employ professionals with these titles. According to the Univer-sity of Houston, around 25% of Fortune 500 companies have futurists on staff. They’re also commonplace at government agencies as well as non-profits. Andrew Bolwell, for example, is HP’s chief disrupter. In his role, he unpacks megatrends like microfluidics – working with tiny amounts of fluid with precision. Even though printers already do this, Bolwell is talking about even smaller amounts, fluids the fifth of a size of a human cell (or a thousand times smaller than a raindrop). With the microfluidics market projected to be worth $64.94 billion by 2029, according to Mordor Intelligence, the possibility of 3D-printing vital organs may become a reality.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
&#8220;BY THE TIME WE GET TO THE 2040S, WE’LL BE ABLE TO MULTIPLY HUMAN INTELLIGENCE A BILLIONFOLD. THAT WILL BE A PROFOUND CHANGE THAT’S SINGULAR IN NATURE. COMPUTERS ARE GOING TO KEEP GETTING SMALLER AND SMALLER. ULTIMATELY, THEY WILL GO INSIDE OUR BODIES AND BRAINS AND MAKE US HEALTHIER, MAKE US SMARTER.”&#8211; Ray Kurzweil
</blockquote>



When Dr Werner Vogels, Chief Technology Officer (CTO) and Vice President at Amazon, one of the globe’s most innovative companies, looks into the future, the world takes note.



The well-known futurist, who releases tech predictions for the year and beyond, also happens to be one of the highest-paid CTOs worldwide – it’s no wonder his live speaking fee reportedly starts at $100,000. One of Vo-gels’ predictions is that women’s healthcare, femtech, is on the rise. “Women’s healthcare is not a niche market,” he writes in his tech predictions report. “At AWS, we’ve been work-ing closely with women-led startups and have seen first-hand the growth in femtech. In the last year alone, funding has increased 197%.” 



With increased access to capital, technologies like machine learning, and connected devices designed specifically for women, Vogels believes that the world is at the precipice of an unprecedented shift, not only in the way women’s care is perceived, but how it’s administered. From women in rural areas who have been historically underserved medically to female athletes whose training was modelled on what worked for men, femtech will finally see women’s care move from the fringes to the forefront.



As companies strive to achieve aggressive sustainability targets, there are now climate and environmental futurists emerging as key strategic advisors, guiding businesses in navigating the complexities of climate change, resource management and eco-friendly practices to secure long-term viability and environmental stewardship. For Gerd Leonhard, a German futurist, green has become the new digital and sustainable is the new profitable. In a recent keynote, he said that he’s optimistic about climate change and global warming because we already have the tools we need to solve it. “We’re going to suffer for 15 to 20 years in the process of fixing this,” he predicts, “but we’re now getting ready to do this… technological advancements offer solutions that can help tackle these challenges. It will be essential to find a balance between economic progress and environmental preservation.”



Leonhard, like other consulting futurists, is working with companies to help them understand the next decade and develop foresight. “It’s not predictions, it’s understanding, intuition and imagination,” he explains in a podcast, adding that being a futurist is similar to being a therapist. His job is to essentially point his clients in the right direction; clients who happen to be tech giants, business leaders and government officials around the globe.



The future, today



There’s no question that history is happening now and futurists provide a way to understand current trends as well as anticipate what’s to come. Futurism is essentially risk management because every industry is experiencing dynamic change. In the last 50 years we’ve made more progress than in the previous 250,000 years and it’s been said that the next 10 years will bring more change than the previous 100. Of course, the future is unpredictable and futurists are not fortune tellers – they get things wrong. However, their value lies in their ability to analyze data and identify patterns. By incorporating foresight into strategic planning, businesses, governments and other organizations can adapt more effectively to emerging trends, mitigate risks and seize the moment. In a world characterized by rapid technological advancements, the role of the futurist has become increasingly indispensable in shaping a better tomorrow.

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