Zambia and the Czech Republic have inked a collaborative deal to fast-track the digitization of key economic sectors in the African nation, leaning on emerging technologies and innovation-driven partnerships.
According to the announcement, the arrangement marks the launch of the “Kwenyu Pact,” a bilateral partnership focused on measurable outcomes over dialogue. Signed at the Tech for Zambia Forum, the strategic technology and trade alliance is considered a key piece of the puzzle in transforming Zambia’s digital landscape.
Zambian authorities have pledged to finalize the Data Protection Act and bring the Cybersecurity and Cyber Crimes Law into operation. Both legal frameworks will ensure that data becomes the bedrock of Zambia’s digital transformation rather than a stumbling block to progress.
The new pact will lean on President Hakainde Hichilema’s vision to transform Zambia into a digital-first economy. To accelerate the vision, the Czech Republic delegation revealed that it will deploy its advanced engineering and industrial technology to transform operational processes in Zambia.
Under the partnership, the European nation will back the local manufacturing of solar panels, drones, and satellites, reducing dependency on imports. The Czech delegation added that it will introduce next-gen solutions for Zambia’s renewable energy, cybersecurity, and remote sensing efforts.
Amid the plan to build local value chains, the Czech Republic is keen to develop local technology talent in Zambia via a raft of training initiatives. Under the agreement, the European nation will offer up to 25 scholarships for Zambian students in emerging technology fields like artificial intelligence (AI) and data science.
In terms of use cases, the agreement will support innovation in precision farming, off-grid energy solutions, and mining.
Digitization efforts are underway
Zambia has raked in early wins from its digitization efforts, leaning on AI and blockchain-backed initiatives, including its national digital ID system. The country has so far issued over seven million IDs to citizens.
Meanwhile, AI innovation is fueling a copper rush in the Southern African country, improving the productivity and efficiency of mining companies. Amid the blistering pace of innovation, Zambia’s president disclosed that the digital economy is Africa’s chance to close the technological gap and unlock economic growth.
PayPal links up with ChatGPT
PayPal (NASDAQ: PYPL) has announced a partnership with OpenAI to expand payment and commerce capabilities in ChatGPT, the world’s most popular AI chatbot.
According to a joint statement, PayPal will adopt the Agentic Commerce Protocol (ACP), enabling instant checkout on ChatGPT for goods and services. Under the partnership, tens of millions of merchants using PayPal will be discoverable by ChatGPT users, with the payment behemoth connecting its global merchant network to OpenAI.
The partnership will offer ChatGPT users the convenience of PayPal’s wallet via multiple funding options and post-purchase service. Users of the instant checkout feature will have access to PayPal’s tracking and dispute resolution perks, and other buyer and seller protections.
“By partnering with OpenAI and adopting the Agentic Commerce Protocol, PayPal will power payments and commerce experiences that help people go from chat to checkout in just a few taps for our joint customer bases,” said PayPal CEO Alex Chriss.
The latest partnership between OpenAI and PayPal is considered a key piece in the puzzle to make agentic AI mainstream. While several AI agents have found success in comparing and recommending products, the new partnership will offer high autonomy to agents in completing tasks.
“Agentic commerce is seen by some as a potential silver bullet to leverage PayPal’s large and global user base and reignite growth on what could be a next-gen commerce platform,” said analysts at Evercore ISI.
Meanwhile, PayPal disclosed plans to extend its collaboration with OpenAI beyond commerce. The payment giant announced that it will scale access to ChatGPT Enterprise for its employees, amplifying the use of OpenAI’s APIs and enabling Codex for its engineers.
Riding the wave of the buzz, PayPal has raised its financial projections for the year, exceeding Wall Street estimates. The company is eyeing a full-year adjusted EPS between $5.35 and $5.39, while the board has approved a quarterly dividend of 14 cents per share.
At the bleeding edge of innovation
Paypal has found success with emerging technology in recent years, famously embracing digital assets to improve customer experiences. After tinkering with a digital currency patent, the payment giant launched its PYUSD stablecoin to challenge the dominance of Tether’s USDT and Circle’s USDC.
In August, PayPal launched its “Pay with Crypto” feature designed to support merchants accepting payments in digital assets via instant stablecoin and fiat conversions. Other payment service providers are mirroring PayPal’s moves, with Western Union mulling its own stablecoin offering.
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Source: https://coingeek.com/zambia-czech-ink-digital-deal-openai-paypal-join-forces/
