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Africa’s AI community launches two initiatives seeking AI and data science solutions for Coronavirus (COVID-19)

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Dr Nick Bradshaw, Co-founder of AI Expo Africa

Two members of Africa’s artificial intelligence (AI) community – data science competition platform Zindi and Ghana’s Runmila AI Institute – in response to the global COVID-19 pandemic, have launched two initiatives seeking AI and data science solutions that will help in the fight against the viral disease.

As of 16 March there were about 169 387 confirmed cases of the coronavirus and over 6 500 reported deaths around the world.

In a bid to fight the virus, Zindi has launched a challenge sponsored by the Artificial Intelligence for Development-Africa Network (AI4D-Africa) which asks data scientists to build an epidemiological model that predicts the spread of COVID-19 throughout the world over the next few months. The platform says the solutions will be evaluated against future data.

Zindi points out that accurate modelling of the spread of viral diseases like COVID-19 is critical for policy makers and health workers to take appropriate actions to contain and mitigate the impact of these diseases.

The challenge, titled AI4D Predict the Global Spread of COVID-19, was launched on 13 March, with submissions set to close on 19 April. At the end of the challenge, participants with solutions that place first will receive a $2,500 prize, this while second and third placed data science practitioners will receive $1,500 and $1,000, respectively for their solutions.

On 21 March, Accra-based Runmila AI Institute will hold the Runmila AI4COVID-19 Hackathon and AI Research Fellowship Event at the University of Ghana.

Also Read: Women in Tech: Interview With Ellen Fischat, Founder Story Room and Inspiring Fifty SA Ambassador

The event aims to use AI and data science to combat COVID-19 in Ghana and Africa.

Runmila will host the event in collaboration with minoHealth AI Labs. In attendance will be Runmila AI Fellows and alumni, data scientists and AI engineers from minoHealth AI Labs and Gudra, virologists as well as bioinformaticians from the West African Centre for Cell Biology of Infectious Pathogens (WACCBIP) and delegates from organisations that include German development agency GIZ, UN Global Pulse and Japan International Cooperation Agency.

Dr Nick Bradshaw, Co-founder of AI Expo Africa, the largest AI business community in Africa stated, “With the announcement by the South African President on Sunday 15th March around measures to combat the growing COVID19 virus we want our community to play its part and leverage data science and artificial intelligence to help model the spread of the COVID-19 virus. These two platforms and associated challenges will contribute to the global body of knowledge to help combat COVID-19. We are all in this together and have to help people, families, businesses, front line workers, society and the world cope with this global issue – these two initiatives are a significant contribution from Africa”.

Young data scientists looking to participate in the event can apply to join the Runmila AI Fellowship programme by filling this form https://forms.gle/h26617RknRCjNGc66

Learn more about the Zindi’s AI4D Predict the Global Spread of COVID-19 challenge : https://zindi.africa/competitions/predict-the-global-spread-of-covid-19

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Possibilities of Making Profits On Crypto, Risk-Free

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Over the course of the last decade, cryptocurrencies have experienced unprecedented growth and garnered a lot of interest across a range of demographics from all over the world. Interest in digital currencies is spiking globally and search terms such as “how to buy Bitcoin” have seen an uptick in interest according to Google trends. This is just one of many indicators that suggests a notable influx of people are entering the blockchain space and looking to explore the crypto ecosystem.

While the market cap of digital assets has varied extremely with price fluctuations, it, however, grew from about US$10 billion in 2013 to about $237 billion in 2019. Also, in the last 5 years, the increase in Bitcoin (BTC) private accounts and trades has averaged about sixty percent every year. Currently, the market cap for digital currencies is just above $2 trillion.

Even though many people have made early gains in digital assets, the cryptocurrency space is still in the early phase of development. The Internet for example, was created in 1969 and the “worldwide web” was designed in 1989 and subsequently the first web browser in 1990. Compared to those revolutionary technologies which massively transformed the communications landscape, blockchain technology is nascent and cryptocurrencies have only been in use for only a decade.

Crypto goes mainstream

Social media has exposed a lot of people to the crypto industry. The mass media is quick to broadcast the movements in bitcoin prices, leading to FOMO and FUD or the hysteria that sometimes characterizes crypto markets. Overall the ever growing coverage has done more to spur further development of new innovations within the space.

The price increase of cryptocurrency will probably be boosted by increased cryptocurrency adoption. While many institutions have started to invest and buy Bitcoin, there are still a lot of firms waiting in line to invest and buy Bitcoin. The average volume of digital assets transacted on any given day is just one percent of the FX trade. Regardless of cryptocurrencies increasing to more than $2 trillion in market cap according to Coinmarketcap, digital assets are still a tiny fraction of global equity trade ($34.8 trillion in 2020) and worldwide debt trade (over 281 trillion in 2020) according to Bloomberg.

With more institutional adoption of Bitcoin and other digital assets, traders and investors are presented with more chances to make money in the digital asset space.

How to make money with crypto

There are several ways of making profits with digital assets. Given that digital assets are basically volatile, many digital assets involve a great level of risk while some need greater expertise. It is important to have prerequisite knowledge about digital assets before you buy bitcoin.

One of the ways of making profits with cryptocurrency is through investing. This is generally for long-term purposes. It requires you to buy Bitcoin or other cryptocurrencies and hold them for a chosen period of time. This can be done via different traditional crypto exchanges or P2P platforms like Remitano. Digital assets are usually well-suited to the investing practice of buying low, holding and then selling high. Cryptocurrencies are highly volatile in shorter timeframes, however, they typically and have historically offered a much more lucrative upside over long periods compared to traditional investment vehicles.

Studies have also shown that most BTC profits are realized in the ten best trading periods of the year.

Due to cryptocurrencies being naturally volatile, investing for a long period is one of the ways of making profits with cryptocurrency. Just like with any type of investing, risks have to be thoroughly considered and expectations of rewards have to be managed well.

Another way of making profits with cryptocurrency is to trade digital assets. The most notable difference between investing and trading is the general time frames between entering and exiting positions. Investing is for a long period, while trading is basically to leverage opportunities over a short period. To trade digital assets successfully, it is important to know the basic fundamentals and have the capability to conduct technical analysis in order to avoid making costly mistakes.

Making profits via trading cryptocurrencies is more about knowing the price trend and pattern and utilizing it to forecast future value, many times over a short period. Find out the 20 best platforms to buy Bitcoin and other digital currencies in South Africa.

What is the possibility of making profits on crypto, risk-free?

Trading digital assets sounds relatively easy, however, due to the highly volatile nature of crypto assets, it involves a lot of risks. One of the ways to make profits on cryptocurrency with relatively low risk is by doing cryptocurrency arbitrage. This trading method exploits price and demand gaps between different digital asset marketplaces. But, the trades have to be done almost instantaneously to realize gains.

Arbitrage Trading

Crypto arbitrage involves exploiting price differences on different crypto exchanges for your benefit. This method is effective in places where bitcoin price varies from one exchange to the other like in South Africa and Nigeria. The price differences could be a result of several factors.

Arbitrage trading involves buying bitcoin or other digital assets from one exchange and selling it on other exchanges at a higher price. Selling the asset after the purchase must be done relatively quickly to avoid price movements narrowing margins or leading to loss at times.

Exploiting the price difference using the cryptocurrency arbitrage technique requires a cryptocurrency market that has price discrepancies depending on the supply and demand in the different markets.

Remitano Invest

Another way to make money risk-free is with Remitano Invest. Remitano invest allows you to buy and invest in cryptocurrencies without putting your capital at risk.

How?

With the Stop Loss and Take Profit features, your crypto asset will be liquidated to USDT (a stable coin) to prevent loss and maximize your profit. You simply set the auto sell price for the Stop Loss and Take Profit. When the asset you have invested hits your Take Profit price, Remitano Invest converts it into USDT to secure your profit. However, if the asset’s price falls to your Stop Loss price, the system will convert it into USDT to help you secure your capital and prevent further loss.

Risks and benefits are an intrinsic part of most money markets and they go hand in hand. Risks cannot be eradicated but they can be managed. Some risks can be managed by utilizing effective risk management practices. Personal risks like wallet hacks, coin theft, and loss of access to funds can be offset by making sure you implement good security practices.

Article & Image source: Heath Muchena

 

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Lami, Kenya-based Insurtech secures $1.8 million to accelerate digital insurance in Africa

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Lami team and press release (Source: Eva Barasa/Lami Tech/medium)

Lami Technologies, a Kenyan insurance technology (insurtech) company that aims to democratize insurance products and services for low-income Kenyans, announced today it had raised $1.8 million in seed funding.

The round was led by Accion Venture Lab’s seed-stage investment initiative that provides capital and extensive support to innovative fintech startups that improve the reach, quality, and affordability of financial services for the underserved.

Founded by Jihan Abass in 2018, Lami is a digital insurance platform that enables partner businesses — including banks, tech companies, and other entities to easily and seamlessly offer digital insurance products to their users via its API. Lami can also be used by partner businesses to manage their own insurance needs. Lami connects partner organizations, such as the e-commerce platform Jumia, with underwriters and allows them to offer a superior customer journey. Through its API, users can get a quotation for motor, medical, or other tailored insurance products in seconds, then customize the benefits and adjust the premium to suit their needs, get their policy documents instantly, and claims are paid in record time.

Lami’s services are enabled by its flexible insurance rating engine and direct integration with several parties and insurance companies. Lami co-designs innovative products with its underwriting partners to enable businesses to offer unique insurance products to their underlying customer base, with flexible options that meet their needs and cash flows, such as monthly medical policies for startup employees.

Jihan Abass, CEO & Founder of Lami (Source: Eva Barasa/Lami Tech/medium)

Jihan Abass, CEO, Lami, said: “This funding will allow us to invest in hiring more people, improving our technology, and growing our presence across Africa as we can continue to address the persistent insurance gap. At Lami, our vision is to help improve the financial resilience of millions by making insurance products more accessible and affordable for underserved populations. By enabling our business partners to offer customized insurance solutions, we are helping them provide more value to their customers while enabling large volumes of users to access insurance, often for the first time.”

Africa’s insurance market currently stands at a 3 percent penetration rate, except for South Africa, and is facing modernization and innovation challenges. Most insurance providers on the continent fail to offer flexible, affordable and tailored insurance coverage to provide a safety net for the African consumer. Low insurance uptake is partly due to the traditional distribution and administration of policies, mainly relying on brick-and-mortar channels where policies are sold and processed manually. This results in a longer processing cycle, poor customer satisfaction, and higher distribution costs.

Lami’s digital insurance platform leverages cloud computing, automation, and third-party service providers such as emergency and valuation, or identity and asset verification databases, to offer a comprehensive ecosystem for the businesses they partner with to develop, distribute and manage highly streamlined and competitive insurance products that are designed to meet their customers’ needs.

Since its inception, the insurtech startup has sold more than 5,000 policies and has partnered with more than 25 active underwriters, including Britam, Pioneer, and Madison Insurance, distributing more than 30 products available including medical, motor, employee benefits, and device insurance. As an innovator in the digital insurance space, Lami aims to continue diversifying its business by looking for new partners and building on its core technology.

Michael Schlein, President and CEO, Accion Venture Lab, said: “Ninety-seven percent of Africans lack access to insurance — a financial safety net that can help them build resilience against economic shocks. Lami helps address this need for consumers across Africa through its innovative approach that leverages technology and partnerships to help any business develop and sell insurance.”

“At Accion Venture Lab, we’re excited by how Lami is using technology to create a pathway for customers to purchase insurance that is specific to their needs. By embedding customized insurance within businesses that customers know and trust, Lami is making insurance accessible for underserved populations in Africa and enabling them to build financial resilience. “said Ashley Lewis, Africa Director, Accion Venture Lab

This investment highlights the strong commitment of all organizations to ensuring that financial services are made accessible and affordable for the underserved.

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AI Expo Africa 2021: Demand surges for 4IR tech as 4,600 register for Africa’s largest AI trade event

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AI Expo Africa – the continent’s largest annual gathering of buyers and suppliers of Artificial Intelligence (AI), Robotic Process Automation (RPA) and Fourth Industrial Revolution (4IR) smart technologies – is set to have its biggest edition this year as 4 600 delegates and several international and local sponsors have already registered to attend the trade show and conference which takes place between 7 to 9 September.

AI Expo Africa 2021 ONLINE will mark the fourth edition of the annual trade event. Dr Nick Bradshaw, AI Media Group CEO and AI Expo Africa founder, pointed out that this year’s event will – like last year’s edition – also be held online to circumvent COVID-19 event restrictions. “Based on the early interest in AI Expo Africa 2021 ONLINE, we know our community likes the event’s online format and mix of content, vendors and innovators. AI Expo Africa 2020 ONLINE attracted more than 2 400 registered delegates and hosted 80 speakers and 80 exhibitors. This year we are on track to set a new benchmark as the audience grows.”

Head of Show Production Daniel Mpala stated that AI Expo Africa 2021 ONLINE is on track to host the largest mix of global vendors and cutting-edge startups for its curated audience of business practitioners. “Our event has now grown in the last three editions, starting this year, we will be dedicating Day 1 of the event to showcasing our vendors. AI Expo Africa 2021 ONLINE will again feature our specialist eZones, labs, poster wall and several country ePavilions from vendors outside the Africa region making for a truly global 4IR technology festival we think our community will really enjoy.”

Early sponsors that have signed up include US-based Future Tech, Czech-based IBA Group, UK-based Elzware, as well as South African firms AizatronCOGO People AnalyticsCompariSureecosystem.AiWizzPass, and Amathuba AI.

Premier diamond sponsor Future Tech, an Accubis company which specialises in Blockchain, AI, RPA and Digital Transformation, said it is excited to be part of this year’s edition of the expo.  “We already have a range of projects underway in the Africa region and are actively looking for startups to invest in with funding partners wanting to co-invest.  Africa is seeing a surge in uptake of these 4IR technologies and we see community engagement via this event a key part of our strategy for the the region in 2021,” explained Future Tech co-founder and Blockchain / AI Practice Manager Daniel Sloan.

COGO People Analytics managing partner Elmen Lamprecht commented that the COVID-19 pandemic has shown that it cannot be “business as usual”. “The world of work has changed irrevocably and People Analytics will play a huge role in the workplace going forward. We are excited to be part of the Africa’s leading AI event and to showcase how we can help organisations adapt to the new world of work by harnessing the capabilities of AI in their HR departments,” added Lamprecht.

ecosystem.AI commented that it had found new ways for businesses to understand and interact with their customers. “Through the use of of machine learning and behavioural predictions, we give businesses the tools to better engage with their customers in real-time. Exploring and understanding the behaviour behind the choices that their customers make,” the company added.

Ulrich Stark, the co-founder and executive director of WizzPass — which supplies highly configurable visitor & contractor management, employee desk booking, office capacity management, employee parcel management and Covid-19 screening services — commented, “As a returning supporter of AI Expo Africa 2021, this event is a great way to reach new business customers and we look forward to meeting the delegates and partners in September for a truly amazing experience.”

Aizatron said it looks forward to demonstrating its latest smart IoT and edge solutions. “We will be showcasing our latest computer vision technology, smart agri-tech, and intelligent safety and security systems. We will also demonstrate how we have coupled AI with RPA technology to create smart self-healing operations, that react quickly to alerts and deal with them quickly and effectively improving SLAs and reducing business outage due to system failures. Large companies attending the expo will also be shown how they can easily access our technology through our secure APIs”.

Amathuba AI Chief Commercial Official Nomsa Nteleko said the firm’s vision is to advance African culture and humanity through the assimilation of Artificial Intelligence technology. ” We hope to achieve this by changing the African narrative through our progressive technology.  We believe AI can be a collaborative partner to humans. Our solutions include; Medical, Healthcare, Manufacturing, Auditing, Data Enhancement & Cyber Risk. There has never been a better time to embrace the 4IR technology opportunity and as a returning supporter of AI Expo Africa we look forward to meeting new clients and partners at the show,” she added.

Matt Kloos, CFO at South Africa based CompariSure, stated, “At CompariSure, we aim to connect consumers with premium product providers, while using our proprietary chatbot technology to build the “automated insurance agent” of tomorrow.  We see AI Expo Africa as a great way to reach new business customers and showcase our conversational technology to new users who are perhaps considering this kind of technology for the first time.   We are really happy to be joining over 4 000+ delegates who are keen to see what Africa has to offer in this rapidly growing segment of the market”.

IBA South Africa managing director Dimitri Denissiouk said the company is excited to be involved in the high-profile event, and about what it can bring to African businesses in terms of automation and digital transformation. ” Intelligent automation has been the company’s focus since 2013. The IBA Group’s Center of Excellence has implemented 500+ RPA solutions and our developers have been working for years with a variety of RPA platforms, including WorkFusion, UIPath, Automation Anywhere, and Blue Prism. Based on this expertise, we built our EasyRPA platform. We look forward to seeing you at AI Expo Africa and invite you to attend our presentation on EasyRPA,” said Denissiouk.

Elzware founder and managing director Phil D Hall said he was excited to have engaged with AI Expo 2021 ONLINE. “We are looking forward to the event where we will be bringing our long experience in conversational AI into the sight of the leading hearts and minds in the African AI ecosystem,” he added.

AI Expo Africa 2021 ONLINE delegates can expect to hear from 80 thought leaders in AI, Data Science and Robotic Process Automation on the 8th and 9th of September. In addition, delegates will this year be treated to unique online experiences that will form part of the social programme on Day 2 and Day 3 of the expo. Like last year, the 2021 edition will also include a 30-day OnDemand Show archive which will be accessible from the 10th of September.

Bradshaw concluded, “We are going to market with a tried and tested format that will negate all the problems the world is experiencing because of the pandemic, while at the same time broadens the buyer audience and makes the event more accessible and diverse as our reach is essentially global and the tickets are free. We again hope to deliver on our promise of curating the best business trade event go its kind on the continent and look forward to showcasing the best of Africa 4IR innovation.”

Those interested in attending AI Expo Africa 2021 can register to claim free tickets here.

 

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