News / Localby Staff reporterAny financial institution that fails to serve or actively use AI-driven companies is "not doing modern banking," robotics scientist and former Zimbabwe Deputy Prime Minister Arthur Mutambara has declared, insisting that "AI is the economy, and the economy is AI. He said AI is projected to contribute US$11 trillion to global GDP in 2025 - 10% of the world's US$110 trillion economy. "Generative AI alone is contributing US$4 trillion - bigger than the GDP of the UK or France, and larger than Africa's entire US$3,4 trillion economy," Mutambara stressed. It's a multiplier, an escalator," he said.For the banking sector, Mutambara pointed to risk management, fraud detection, customer service, and credit scoring as immediate areas being reshaped by AI. "No function in your sector will remain untouched by AI," he warned.On the issue of employment, Mutambara dismissed the popular notion that jobs are lost to people who use AI rather than to the technology itself.