Kenya's AI Revolution: Tackling Unemployment through Innovation

Table of Contents

1. Introduction
2. Kenya: A Prominent Country in East Africa
   • Population Overview
   • Venture Capital Investment
   • Mobile Payments and Penetration Rate
3. Meet Matumbe: CEO and Founder of Fast Tagger
   • Matumbe's Background and Inspiration
   • The Role of Technology in Matumbe's Life
   • The Beginnings of Fast Tagger
4. Dana Yao: Host of the Emerging Markets Tech Startups Podcast
   • Dana Yao's Journey and Inspiration
   • Exploring Startup Communities Across the World
   • Uniqueness and Challenges of Emerging Markets
5. Matumbe's Story and Vision for Using AI to Address Unemployment
   • The Global Concern of AI and Job Displacement
   • The Scale of Youth Unemployment in Kenya
   • Fast Tagger: Creating Opportunities and Upskilling
6. The Challenges of Developing AI in Africa
   • Data Availability and Biases
   • Limited Access to Funding and Capital
   • Trust and Perception in the VC Ecosystem
7. How Can You Help?
   • Contributing Time and Expertise
   • Providing Networks and Connections
   • Supporting Fast Tagger and Similar Startups

🚀 Kenya: Leading the Way in East Africa

Kenya, situated in East Africa, is a country flourishing with technological advancements and entrepreneurial spirit. Despite having a smaller population than countries like Nigeria and Egypt, Kenya stands out as a frontrunner in various aspects. It has gained a prominent position in the investment landscape, particularly within the venture capital industry. In 2019, Kenya ranked first in Africa for the amount of venture capital money invested, with over $149 million flowing into the country. One key contributing factor to this success is the widespread adoption of mobile payment solutions, with a staggering 75% penetration rate. In fact, Kenya boasts the highest mobile money penetration rate globally.

📷 Meet Matumbe: The Visionary Behind Fast Tagger

Matumbe, the CEO and founder of Fast Tagger, an AI startup located in Kenya, joins us to shed light on the AI landscape in Africa and his vision for addressing unemployment through groundbreaking technologies. Matumbe's incredible journey began in Kenya, where he grew up in a small urban town. Despite the town's reputation for producing criminal activities, Matumbe's parents prioritized education and ignited his Curiosity in technology. His first experience with technology came from his father, who introduced him to an AI Chatbot program called Eliza. This early encounter with AI sparked Matumbe's interest in technology and innovation, setting him on a path to create solutions for real-world problems.

🎙️ Dana Yao: Empowering Emerging Markets Through Tech Startups

Dana Yao, the host of the Emerging Markets Tech Startups Podcast, joins Matumbe for an engaging conversation. As a seasoned traveler and entrepreneur, Dana's podcast explores stories from across the globe, highlighting the unique challenges and opportunities faced by startups and founders in emerging markets. Through her experiences traveling to over 90 countries, she has witnessed the entrepreneurial spirit thrive in Africa, Latin America, Asia, the Middle East, and Eastern Europe. In this discussion with Matumbe, Dana delves into the intricacies of the African startup ecosystem, shedding light on local trends, consumer behaviors, and the immense potential for growth.

🌍 Matumbe's Personal Background and Achievements

Matumbe shares his personal background, shedding light on the meaning behind his name and its connection to his affinity for travel and exploration. Raised in Kenya, Matumbe's passion for technology blossomed at an early age. From his initial encounters with AI through the Eliza chatbot program, he developed a keen interest in leveraging technology to solve complex problems. During his university years, Matumbe focused on exploring the potential of digital jobs and their transformative impact. His research on a company called Digital Divide Data, which provided digital job opportunities for young people, revealed how technology could empower individuals without the need for traditional four-year degrees.

💡 Fast Tagger: Nurturing Talent and Tackling Unemployment

Driven by the mission to create employment opportunities and upskill the millions of unemployed youth across the African continent, Fast Tagger is revolutionizing the AI data labeling market. Recognizing the shortage of job opportunities and the rapid automation of various industries, Matumbe and his team are providing young individuals with the chance to enter the AI data labeling field. This not only enables them to earn income but also equips them with the skills required to contribute to the development of AI solutions tailored to African challenges. Moreover, Fast Tagger addresses the issue of limited internet access, which remains a significant hurdle to overcome.

🌐 The Challenges of Developing AI in Africa

Matumbe delves into the unique challenges faced by AI development in Africa. One significant hurdle is the availability of diverse and representative data sets. Many existing AI models are built on data predominantly sourced from regions outside Africa, leading to biases and limitations in accuracy when applied to African contexts. Additionally, access to funding presents a significant obstacle for startups like Fast Tagger. Matumbe highlights the biases in the VC ecosystem, wherein African founders often face disproportionate difficulty in securing investments, despite the immense potential and talent present. Overcoming these challenges requires a collective effort and a shift in perception and trust.

🤝 How Can You Help Fast Tagger and Similar Startups?

To further support and empower startups like Fast Tagger, there are various ways you can contribute:

1. Time and Expertise: Share your skills and knowledge by volunteering time as a mentor or advisor. Help young individuals in emerging markets hone their entrepreneurial and technical skills.
2. Networks and Connections: Introduce Fast Tagger and similar startups to potential customers, investors, and collaborators. Facilitate connections that can help them expand their reach and impact.
3. Financial Support: Invest in startups like Fast Tagger and contribute to their journey of creating employment opportunities and enabling technological advancement in Africa.

By actively participating and supporting initiatives aimed at addressing unemployment and fostering technological innovation, we can collectively Shape a brighter future for emerging markets like Africa.