By: Basma Balabel

In response to Egypt’s persistent economic challenges of rising inflation and currency depreciation, the Central Bank of Egypt (CBE) has implemented currency flotation of the Egyptian pound three times over the past eight years—in 2016, 2022, and 2024 [1]. Each time, the public struggled to adapt to the consequences of the policy, often failing to grasp its rationale and implications. Many were left wondering why such measures were necessary, what currency flotation actually means, and why, in the effort to reduce inflation, the cost of goods continues to rise. While all the above questions and concerns are valid, they represent a much bigger problem of low economic literacy in Egypt. What compounds the problem is a gap in quantifiable data on economic literacy rates in Egypt, making it difficult to tackle its root cause.

Exploring The Opportunities Created By Artificial Intelligence (AI) In Promoting Economic Literacy in Egypt

Low economics literacy in Egypt, in part, stems from the absence of the subject from the National Education School System in Egypt curriculum. According to the Minister of Education, economics is not taught in the high school curriculum in the Egyptian National System [2]. Only international schools’ systems, such as IGCSE, include the option of studying economics in its curriculum [3]. As a consequence, students in public schools graduate with limited knowledge of economics, making economic literacy a privilege primarily accessible to those who can afford international schooling. With the fluctuating economic landscape in Egypt, many Egyptians are interested to learn more about economics to better understand the dynamics of the Egyptian market and take part in the economic discourse. The issue is becoming an increasing concern for many citizens trying to understand the implications of on-going changes in Egypt’s economy. However, access to knowledge, resources, and the needed skills are a persistent challenge when it comes to learning about economics. This is where Artificial Intelligence (AI) can be used as a tool to help combat economic illiteracy and foster an accessible economics curriculum, but it is not without its challenges and limitations.

The Opportunities Presented by Artificial Intelligence

While the development and deployment of AI tools and regulations in the MENA region are still in the early stages, AI-based tools such as Jais, one of the first Arabic LLMs, and ChatGPT have the potential to aid in economic literacy [4]. Indeed, AI’s ability to produce concise information in an accessible format decreases the need to surf articles or textbooks in online search engines,such as Google. In a country like Egypt, where many people do not have access to advanced economic education, AI tools that simplify complex topics can be a helpful resource. These tools can make economic education more inclusive by breaking down barriers to understanding, ultimately empowering individuals to keep up with the Egyptian economic discourse.

AI tools have a significant edge in simplifying concepts, giving a potential role in simplifying  some of the complex jargon and mathematical models involved in economics by generating content in simpler language, offering analogies, and providing visual aids that break down complicated ideas. For example, AI can generate easy-to-understand explanations for the concepts of gross domestic product (GDP), interest rates, or the role of central banks in controlling inflation. For instance, the user can use any of the above-mentioned tools and ask them what devaluation means and the tool will provide an instantaneous detailed answer. What makes such tools even more unique is their ability to hold an interactive conversation with the user. For example, if someone asks about a certain concept and needs more information, they can keep the conversation going by asking more questions until they fully grasp key concepts. This was not the case before AI-based tools, where finding information on any topic required a time-consuming search process that required navigating multiple websites. Furthermore, AI tools could also help those who are already studying economics from academic sources online by answering any questions they might have, since such courses often lack the presence of an instructor dedicated to answering students’ inquiries.

Challenges Facing the Implementation of AI

While AI has a strong potential to contribute to the eradication of economic illiteracy, the digital divide prevalent in many MENA countries means that AI will only be accessible to those who possess both general and digital literacy.  Since free AI-based responses are text-based, AI remains accessible only to those who can read and write and have access to stable internet connection. According to the latest statistics on literacy rates published by Egypt’s Central Agency for Public Mobilization and Statistics (CAMPAS) in 2023 around 16.1% of those above the age of 10 are illiterate, making the use of AI tools limited to around 83.9% of the population [5]. In addition to low rates of general literacy, the digital divide compounds the problem further. At present, only around 72.2% of the Egyptian population have access to a stable internet, according to the latest data published in 2023 [6]. Inaccuracies and bias in AI-tools are also concerning issues. For instance, ChatGPT's output is influenced by its training data which can include biases. Another source of bias is its fine-tuning process which involves human reviewers [7]. Furthermore, according to the latest Multi-Task Language Understanding on MMLU test conducted in 2024, ChatGPT provided accuracy level was 88.7%, which means that there’s a high  prevalence of errors and misinformation [8]. Hence, it’s crucial to approach the model's responses critically and verify any sort of information provided from reliable sources when needed.

Advancing Economic Literacy in Egypt: A Way Forward

The Egyptian government has already taken many steps to adopt digital technologies in its school system. For instance, in 2018 the Egyptian Ministry of Education distributed tablets to students in secondary public schools to facilitate access to school materials and conduct exams [9]. While the initiative is a good initiative that arms students with access to knowledge digitally, lack of awareness on economic issues in specific is prevalent in Egypt mainly because economics is not taught in school curriculum. Therefore, there should be more efforts into putting a more challenging and diverse curriculum along with supplying schools with digital devices. Another important initiative taken by the Egyptian government is the establishment of the National Council for Artificial Intelligence (AI), which is a partnership between the government, academia, and the private sector [10]. The main goal of the council is to explore opportunities in the field of AI and its diverse implications on the different economic sectors. With the help of academics in the field, it could be proposed that economics be taught in schools using AI to design and deliver the curriculum. However, this raises the challenge of ethically and responsibly implementing AI in education, which requires a collaborative, multi stakeholder approach. If AI is integrated or used in school curriculum, it is crucial to ensure its ethical deployment  through a multistakeholder approach.This means engaging not only the government and academia but also the private sector, civil society, and local communities in shaping the implementation of AI technologies and ensuring ethical considerations such as data privacy, algorithmic bias, and the potential for exacerbating inequalities are addressed. The need for a multi-stakeholder approach to Responsible AI is growing in importance across the Middle East and Africa. . For instance, on October 30th 2024, the MENA Observatory on Responsible AI in collaboration with the African Observatory on Responsible AI held a webinar to discuss how multi-stakeholder collaboration is essential to adopt ethical and responsible AI [11] . During the webinar, Mr. Amr Safwat, Manager of the African Organizations Affairs in the International Relations Division at the Ministry of Communications and Information highlighted that collaboration is key for ethical AI development and that African voices need to address local challenges. Indeed, a unified effort from all sectors is needed to adopt responsible AI frameworks in integrating AI in the Egyptian school curriculum. This could involve setting up clear guidelines and best practices for AI use, offering professional development for educators, and ensuring that students are not only consumers of AI-driven tools but also empowered to critically engage with the technologies shaping their future.

Conclusion Overall, AI holds great promise in promoting economic literacy in Egypt by providing accessible and interactive learning tools that can simplify complex economic concepts. AI-based tools, like ChatGPT and Jais, have the potential to empower individuals to engage with economic discourse, offering personalized, user-friendly explanations that can bridge knowledge gaps. However, the widespread implementation of such tools faces significant barriers, including general and digital illiteracy, linguistic barriers, and infrastructural gaps as well as gaps in understanding of the accuracy and bias of AI responses. To overcome these challenges, the Egyptian government must continue its efforts to integrate digital technologies into education and promote a more inclusive and diverse curriculum. By combining AI with policy initiatives, Egypt can foster a more economically literate society, ultimately helping citizens to navigate and contribute to the nation’s economic future.