By Dipo Olowookere

About $10 million has been attracted in investment by FairPlay from JPMorgan Chase, Infinity Ventures and Nyca Partners.

Infinity Ventures, whose founding team previously led PayPal’s Corporate Development and Venture efforts, brings deep expertise in identifying and scaling innovative financial technologies.

The chief executive of FairPlay, Mr Kareem Saleh, believes the funding support “not only validates our mission but also enables us to help more lenders and insurers make decisions that benefit their businesses and their customers.”

He noted, “This investment from a leading group of investors and financial institutions underscores the growing importance of AI safety in the banking and insurance sectors. We’re thrilled to have the support of such prestigious investors as we enter our next phase of growth.”

The firm received these fresh funds after it posted a threefold increase in business in 2024, demonstrating robust market demand for its Artificial Intelligence (AI) safety solutions.

FairPlay’s tools help companies using AI to make high-stakes decisions about consumers’ lives identify and correct blind spots in their decisioning systems.

Its customers find that the product increases revenue, enables them to stay compliant with regulations, and improves financial health outcomes for consumers.

This new funding will accelerate FairPlay’s mission of building fairness infrastructure for the Internet, thereby creating greater safety for all consumers in today’s race to AI adoption.

“FairPlay’s innovative fairness-as-a-service approach has demonstrated remarkable traction in the market. We’ve been particularly impressed by the calibre of institutions adopting FairPlay — including several of the top banks and Fortune 500 companies—because of its robustness and ability to deliver results faster.

“We believe FairPlay’s technology will become a tool for many institutions using AI to make important decisions,” a partner at Infinity Ventures, Jay Ganatra, remarked.

“FairPlay has built an impressive set of products to help its customers evaluate their models, broaden credit access, and strengthen the financial services ecosystem so that institutions of all sizes can adopt responsible AI practices,” the Head of Impact Finance and Advisory at JPMorgan Chase, Shuman Chakrabarty, commented.

“As early investors in FairPlay, we’ve watched the company consistently execute on its vision. Their impressive growth validates our long-standing conviction in both their mission and their ability to deliver pioneering AI solutions to the market,” a partner at Nyca, Jeremy Solomon, noted.

By Modupe Gbadeyanka

The Group Chief Human Resources Officer of Interswitch, Mr Franklin Ali, has called for the adoption of Artificial Intelligence (AI) to make work easier by boosting operational efficiency and driving economic growth.

Mr Ali, at the 2025 InnovateAI Conference Lagos held at the Landmark Centre, Lagos, submitted that, “The AI economy is a gateway to the knowledge economy, and it is imperative that we embrace this shift.”

“While AI adoption in leading economies like America and China remains below 50 per cent, these nations are at the forefront of AI advancements.

“To compete globally, Nigeria must prioritise reskilling and upskilling its workforce, fostering a mindset shift, and equipping professionals with core and enabling skills such as data literacy, JavaScript, and other technical competencies,” he further stated during a panel session titled AI and The Future of Work in Nigeria.

The Human Resources expert while emphasising the importance of targeted learning and problem-solving at the event themed Scaling AI Adoption in Nigeria: Catalysing Cross-Sectoral Innovation and Fostering Inclusive Growth, informed the participants that, “AI is not just a buzzword; it is a tool for solving real-world problems.”

“For instance, traffic congestion in Lagos is a challenge that can be addressed through AI-driven solutions.

“However, adept use of AI technology requires a deep understanding of core tech skills in areas like natural language processing, robotics, and machine learning.

“We must learn AI not for the sake of it but to solve specific problems that impact our society and economy,” he noted.

This year’s conference had Interswitch Group as a Platinum Sponsor for the second consecutive year, reinforcing its commitment to advancing AI-driven innovation across Africa.

By collaborating with key stakeholders and fostering industry-wide conversations, Interswitch aims to drive AI-powered innovation that will propel Nigeria’s digital economy forward.

As a pioneer in Africa’s fintech space, Interswitch remains dedicated to championing initiatives that harness technology’s transformative potential to unlock new opportunities, stimulate economic growth, and elevate user experiences.

By Aduragbemi Omiyale

The Nigerian government has been charged to quickly tap into the opportunities in the digital economy to help achieve the $1 trillion economy target of the administration of President Bola Tinubu.

This call was made by the Young Professionals for Tinubu (YP4T), which expressed delight over the willingness of the federal government to embrace artificial intelligence (AI).

The group warned that Nigeria must sustain these efforts to fully unlock the potential of AI-driven growth.

With a youth population expected to exceed 100 million by 2050, ensuring that young professionals have the skills, tools, and infrastructure to build AI-powered solutions is key to job creation and economic stability.

“As a network of young professionals actively engaged in shaping Nigeria’s future, we see these investments as fundamental to building a globally competitive workforce.

“This is not just about innovation; this is about securing economic opportunities for millions of young Nigerians. AI and digital transformation must be central to Nigeria’s long-term growth strategy, and every young Nigerian should be paying attention to these opportunities,” the Director of YP4T for West/South South, Mr Victor Benjamin, Stated.

“AI is no longer a theoretical concept—it is a defining force in global economies, and Nigeria is now actively securing its place in that future.

“For years, young Nigerians have sought opportunities in technology and digital innovation. What we are seeing now is a deliberate effort by the administration to turn that aspiration into reality through strategic policies, funding, and industry collaboration.

“This is a critical time for Nigerian professionals and businesses to position themselves in the AI-driven economy,” he added.

It has been projected that AI could add about $15 billion to the GDP of Nigeria if well-harnessed by the government through policies.

Recall that last week, Mr Tinubu held high-level discussions with the chief executive of Google, Mr Sundar Pichai, in France.

Talks also centred on the federal government 3 Million Technical Talent (3MTT) initiative, which has already begun producing a pipeline of AI-trained professionals, while the National AI Strategy Framework has laid the groundwork for AI integration across finance, agriculture, healthcare, and education.