Anguilla’s .ai domain is expected to generate nearly half of the government’s total revenue this year, technology minister Jose Vanterpool told BBC Radio 5 Live.
“I would hope that it will continue on to perpetuity,” he said during a recent interview discussing the island’s advantageous position in the artificial intelligence boom.
“I definitely think that AI as a technology and artificial intelligence in general is here to stay, and it’s more than just a tech fad,” he told broadcaster Tony Livesey on 3 September.
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Vanterpool took part in the short interview on the popular national UK radio station to talk about how Anguilla has benefited from being awarded the .ai country domain in the 1980s.
The minister said that before the artificial intelligence boom, it only generated about 1% of Anguilla’s annual revenue, but last year that “soared” to 25 to 27%.
“This year, it’s actually projected to perform even better than we intended, and bring in around 47% of the national revenues,” he added.
Vanterpool said the island’s success is from more than luck: “Anguilla is truly a blessed place, and this is as a gift, as we can only say, was given to us by God.”
Spending plans
Asked what Anguilla plans to do with the windfall, Vanterpool said it has already allowed the administration to do several things.
Firstly, it ensured the government could meet all borrowing limits set out in the Fiscal Responsibility Act.
It also enabled a number of infrastructural projects to be able to be undertaken, the technology minister said.
He discussed the expansion of the Clayton J Lloyd International Airport, including the new terminal – which is expected to open in November – and the future expansion of the runway.
This will allow direct access from more markets such as the eastern US and potentially the UK, he told Livesey.
Beyond that, it has allowed opportunities for improved roads, funding schools and training – whether providing scholarships or issuing other social programmes, he said.
“One of the most notable things we’ve been able to do to date is pass a relief to our goods and services tax as an example,” Vanterpool explained.
“So we’ve been able to relieve the local tax burdens on the locals residing here, because we’ve been supplemented by funds coming in from overseas.”
Future ambitions
“Going forward, we’re going to look to ring fence some of these funds, because as an island in a hurricane belt, we want to make sure that we’re able to save for a rainy day,” the minister said.
He added that the government is planning to introduce development funds to protect some of the wealth for future generations.
Asked about future potential for .ai, Vanterpool said: “Well, you know, if I’m being optimistic, I would say that I would hope that it will continue on to perpetuity.”
He added that he does not see any reason why inherent interests would disappear, but added that Anguilla is in the process of refocusing from being solely a tourism destination.
“We have the high end hotels, the beaches, the people, but we’re also doing things like expanding upon our frameworks,” he said.
“The Special Economic Zone, for example, that would encourage companies that are involved in tech and finance and knowledge-based industries to come and set up here.”
He added that a number of AI conferences will be rolled out on the island over the coming year “as we try to make Anguilla more synonymous with AI and that tech hub in the region”.
Listen to the interview in full below:
