Embrace AI revolution to drive productivity, efficiency: Professor Mutambara

SAMANTHA MADE

Renowned robotics and  artificial intelligence (AI) expert Professor Arthur Mutambara has urged banking institutions to embrace AI as a strategic lever for productivity, efficiency, and innovation, warning that those who hesitate risk being left behind in the digital revolution.

Speaking at the CBZ Holdings Thought Leadership breakfast meeting in the capital Harare, Professor Mutambara described AI as a transformative force capable of redefining the financial landscape.

“AI is a multiplier and an escalator of productivity,” he said. “Let’s have a bit of a storm about it.”

He explained that AI is not merely a technological upgrade, but a strategic accelerator of competitiveness, citing its role in enabling automation, predictive analysis, and personalized banking experiences.

“AI is bringing about a revolution in banking, a revolution in finance in general, and a revolution in investment,” he added.

Professor Mutambara illustrated the magnitude of AI’s impact through a striking example from Goldman Sachs, noting that:

“AI can draft 95% of SIPO prospectors — a task that previously required a team of six people several weeks to complete.”

He said such breakthroughs demonstrate how AI can slash operational timelines, reduce costs, and enhance precision across financial processes.

To capture this potential, Professor Mutambara challenged Zimbabwean institutions to develop a clear AI vision and a practical implementation roadmap.

“An implementation matrix is very important,” he emphasized. “It ensures that AI initiatives are properly planned and executed.”

He argued that the real test lies not in discussing AI as a concept, but in embedding it into business strategies that directly improve productivity and customer experience.

CBZ Group Chief Executive Officer Lawrence Nyazema reinforced the message, saying the banking industry must position itself at the centre of the AI revolution to drive inclusive economic growth.

“AI is the future. The size of the AI economy is now almost US$4.5 trillion,” Nyazema said. “We cannot afford to ignore it.”

He called on Zimbabwe’s financial sector to lead in crafting local AI solutions that reflect national priorities and ethical frameworks, rather than depending solely on imported technologies.

“It is essential for the banking industry to be at the centre of creating AI solutions that align with Zimbabwe’s values and ethics,” he said.

However, Nyazema cautioned that AI adoption requires strong foundations in energy and digital infrastructure.

“AI requires a lot of energy, and as Zimbabwe, we have to create energy so that we invite the builders of data centres to come and invest in this part of the world,” he said.

He pointed to major projects — such as the Muzarabani gas-to-electricity initiative, hydropower developments, and solar energy investments — as critical enablers for AI-driven growth.

Beyond infrastructure, Nyazema underscored the importance of skills development in unlocking AI’s potential. He praised Zimbabwe’s higher education institutions, including the University of Zimbabwe and the National University of Science and Technology (NUST), for producing capable graduates ready to contribute to the emerging AI ecosystem.

“We want to create opportunities for our people. AI and related technologies and solutions are one way of us doing it,” Nyazema said.

He encouraged Zimbabweans to move from being passive consumers of imported digital products to becoming creators and exporters of AI-driven innovation.

“Let’s be the hub of AI and other innovative technologies that are coming through,” he urged.

Experts say AI offers banks an opportunity to transform how they operate — from credit risk modelling and customer analytics to automated compliance and fraud detection. Globally, leading banks are using AI to predict market movements, optimize lending decisions, and deliver real-time insights to customers.

In this context, Professor Mutambara’s remarks reflect a broader shift in the financial world,  where AI is no longer optional, but foundational to competitiveness. For Zimbabwean banks, the question is no longer if they should adopt AI, but how fast they can do so strategically and responsibly.

As global finance becomes increasingly algorithmic and data-driven, Zimbabwe’s success will depend on its ability to merge technological innovation with policy clarity, energy reliability, and digital literacy.

Professor Mutambara’s call to action  and CBZ’s public commitment, suggest that Zimbabwe’s banking industry is beginning to recognize that future prosperity lies not in resisting change, but in shaping it.

“It’s time Zimbabwe’s banks seized the opportunity,” Mutambara said, “to revolutionize finance from within.”