A recent survey conducted by cybersecurity company Fortinet across South Africa, Kenya, Egypt, Morocco, and Algeria reveals that AI (Artificial Intelligence) is a top priority for African businesses, with 85% of companies surveyed either having already invested in AI or planning to do so within the next 3-5 years.
The study highlights that Kenya and Egypt are leading the way in AI adoption, while South Africa, typically viewed as the technology hub of the continent, shows more measured adoption rates. The report also sheds light on the critical role cybersecurity plays in AI investments, as businesses aim to strengthen their security defenses in the face of rising cyber threats.
Cybersecurity as a Key AI Investment Area
Africa has seen the highest year-over-year increase in cyberattacks globally, according to Interpol’s 2024 African Cyberthreat Assessment Report. With cybercriminals leveraging AI to launch more sophisticated attacks, it is crucial that businesses integrate AI into their cybersecurity strategies. However, only 16% of companies surveyed have reached an advanced stage in adopting AI for cybersecurity purposes.
Despite this, over 80% of business leaders consider AI’s potential to enhance cybersecurity a major factor in their investment decisions. The top priorities for AI integration into cybersecurity include data leakage protection (64%), risk management enhancement (64%), and threat detection and prevention (34%). Companies expect significant benefits from AI, such as real-time threat detection (65%) and improved data analysis (61%).
South Africa’s Cautious AI Approach
The survey also reveals South Africa’s more cautious stance on AI adoption compared to its regional counterparts. South Africa ranked fourth in terms of advanced AI adoption in cybersecurity, with only 13% of businesses reporting advanced AI integration. Egypt, on the other hand, led with 24%, followed by Kenya (17%) and Algeria (15%).
Despite this, AI remains a key part of South Africa’s digital strategy, with 72% of respondents considering it crucial. This is below the regional average, with Kenya (85%) and Egypt (82%) showing stronger conviction. In terms of future AI investments, 90% of Kenyan businesses and 89% of Egyptian businesses plan to invest in AI within the next 3-5 years, while South Africa trails at 83%.
Addressing the Skills Gap in AI
One of the major challenges limiting AI adoption across the continent is the skills gap. While many African businesses are eager to adopt AI, they face significant barriers due to the shortage of skilled professionals, particularly in cybersecurity. The research reveals that 58% of businesses identify staff training and upskilling as critical to successful AI adoption.
Doros Hadjizenonos, Regional Director at Fortinet South Africa, emphasized that businesses need the right knowledge and expertise to implement AI successfully. Without skilled personnel, even substantial investments in AI may not lead to effective implementation. Global estimates indicate a shortage of around 4.8 million cybersecurity professionals, underscoring the need for investments in training and skills development.
The Role of AI in the BFSI Industry
The need for strong security practices in the Banking, Financial Services, and Insurance (BFSI) industry is particularly critical. As the threat landscape evolves, maintaining robust security systems has become essential. Fortinet’s research suggests that AI can play a pivotal role in enhancing security measures, fraud prevention, and compliance within the BFSI sector.
The BFSI Security Summit 2025 is looking for expert speakers to provide insights into tackling cybersecurity, fraud, and compliance challenges. The summit will bring together leaders from the BFSI sector to discuss real-world case studies, cutting-edge solutions, and the future of cybersecurity in banking and finance.
This evolving AI landscape across Africa signals significant investment potential in both the technology itself and the necessary training and upskilling to unlock its full capabilities. As businesses continue to navigate the digital transformation, AI’s role in enhancing security and operational efficiency will be pivotal for Africa’s future competitiveness.
