Overview The Global Black Economy represents a significant, often under-recognized, economic force. As we enter an era where technological advancements and scientific innovations are rapidly transforming industries worldwide, it is crucial to explore how these tools can empower Black communities globally, creating sustainable economic growth and bridging longstanding disparities. Advances in science and AI can potentially drive economic growth and development in Black communities worldwide [World Economic Forum]. These technologies can help address historical inequities by providing more equitable access to education, healthcare, and financial services in underserved areas. Machine learning algorithms, for instance, can be used to identify and mitigate biases in lending, hiring, and other economic systems that have disadvantaged Black individuals and businesses [Brookings Institution, 2019].
Scientific research and AI innovations from Africa and the African diaspora can create new industries and job opportunities [African Development Bank, 2019]. This growth potential is further enhanced by increased STEM education and AI skills training for Black youth, preparing them for high-growth technology careers [National Science Foundation, 2021]. In the agricultural sector, AI-powered precision agriculture techniques could boost productivity and incomes for Black farmers globally [Food and Agriculture Organization of the United Nations, 2020].
Technology is also transforming the financial landscape. Blockchain and fintech innovations may improve financial inclusion and access to capital for Black entrepreneurs [World Bank, 2020]. However, these advancements must be implemented ethically. Ethical AI development considering diverse perspectives can help ensure these technologies benefit rather than harm Black communities [AI Ethics Lab, 2021].
To accelerate Black economic development, public-private partnerships focused on science and AI innovation in Africa and other regions could play a significant role [OECD, 2019]. Additionally, more diverse representation in AI development is needed to build inclusive systems that work for all [AI Now Institute]. By addressing these aspects, science and AI can become powerful tools for enabling Black economic development on a global scale.
Objectives As part of the Science Summit in partnership with Future in Colour, a groundbreaking plenary session titled "How Science and AI Will Enable Black Economic Development Globally" is scheduled for September 23, 2024, from 3:00 PM to 5:00 PM at CURE, 345 Park Ave South, New York. This event coincides with the launch of the innovative GDPx Report, which focuses on the GDP valuation of the Global Black Economy.
This session aims to delve deeply into the intersection of science, AI, and economic development within Black communities across the globe. We will explore actionable strategies to leverage scientific advancements and AI technologies to drive inclusive growth, innovation, and equitable prosperity in the Global Black Economy by bringing together thought leaders, policymakers, entrepreneurs, and technologists. The GDPx Report, developed in collaboration with Future in Colour, aims to evaluate this crucial economic segment comprehensively. This plenary session will delve into how advancements in science and artificial intelligence can catalyse and accelerate Black economic development on a global scale.
The session aims to examine the current state of the Global Black Economy and its growth potential, explore the role of scientific innovation in driving economic development within Black communities worldwide, and discuss how AI technologies can be leveraged to address unique challenges and opportunities in this sector. Additionally, it will identify key areas where science and AI can significantly impact Black economic empowerment and foster dialogue between policymakers, scientists, AI experts, and leaders in the Black business community.
The two-hour session will begin with an introduction and overview, including welcome remarks and a presentation of key findings from the GDPx Report. This will be followed by a panel discussion featuring scientists, innovators, and economic experts, focusing on biotechnology, renewable energy, advanced materials, and their potential impact on Black-owned businesses and communities. A keynote address by a leading AI researcher or industry expert will highlight AI as a catalyst for Black economic growth, focusing on AI applications in finance, education, healthcare, and entrepreneurship.
Expected outcomes from this session include increased awareness of the potential of science and AI in driving Black economic development, identification of key areas for investment and policy focus, formation of new partnerships between scientific institutions, AI companies, and Black-owned businesses, development of a roadmap for integrating cutting-edge scientific and AI innovations into the Global Black Economy, and a commitment from participants to support initiatives that leverage science and AI for Black economic empowerment.
This plenary session's target audience includes policymakers, government officials, scientists and researchers in relevant fields, AI experts and technology innovators, Black business leaders and entrepreneurs, economic development specialists, investors and venture capitalists, and representatives from international organizations and NGOs. This diverse group of participants will contribute to a rich and multifaceted discussion on the intersection of science, AI, and the Global Black Economy.
This plenary session aims to catalyze meaningful dialogue and action, positioning science and AI as key drivers in the growth and development of the Global Black Economy. By bringing together experts from various fields and fostering collaborative discussions, the event seeks to chart a path forward for leveraging cutting-edge technologies and scientific advancements to empower Black communities and businesses globally.
Agenda
15h00 OpeningIntroduction to the GDPx Report and its significance.
Keynote Address: “AI, science, accelerated black wealth creation.”
15h30 Panel Discussion: What provides for generational wealth building for the global black diaspora?
Dr. Brown Robertson
Michale Blake
Breon Wells
Samantha Abrams
Breon Wells
Dr. Isak Nti Asare, Indiana University
17h00 Q&A 17h30 Conclusion
