BoT, 5 universities sign MoUs to promote the use of AI technology  

DAR ES SALAAM: THE Bank of Tanzania (BoT) has signed Memoranda of Understanding (MoUs) with five higher education institutions to promote the use of artificial intelligence (AI), enhance innovation in data utilization, support research, and increase efficiency in policymaking and financial sector management.

The announcement was made by the Governor of the Bank of Tanzania, Emmanuel Tutuba, who named the universities involved: Ardhi University (ARU), the Eastern Africa Statistical Training Centre (EASTC), Nelson Mandela African Institute of Science and Technology (NM-AIST), the University of Dodoma (UDOM), and the University of Dar es Salaam (UDSM).

Governor Tutuba stated that the implementation of these agreements aligns with the objectives of the National Development Vision 2050, where growth in digital technology is a key enabler for the advancement of various economic sectors.

“When we talk about a nation with a U.S. dollar economy of one trillion by 2050, artificial intelligence, innovation in data usage, and digital systems will make a significant contribution,” said Governor Tutuba.

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He also noted that the universities partnering with BoT demonstrate expertise in offering undergraduate and postgraduate programs, as well as hosting specialized centers for AI and data innovation.

The agreements include Data Sharing Protocols and comply with the Data Protection Act, ensuring that BoT provides data in accordance with the law.

These protocols will enable university researchers to gain practical experience in solving real-world challenges, reduce research delays caused by data scarcity, and foster innovation in artificial intelligence and modern data technologies.