Can AI help the island address its long-term economic challenges?

Sunday 05 May 2024

The Government could establish a taskforce to explore matters related to artificial intelligence as part of an upcoming digital economy strategy, according to the Economic Development Minister.

Deputy Kirsten Morel told the States Assembly this week that having a “a range of minds” examining AI would be “a good idea”.

He added: “I do believe that in Jersey we have so many people who are already experts in this field, using artificial intelligence in different ways."

Deputy Morel said that many small and medium enterprises are already incorporating AI into their operations as a tool, while other businesses are spearheading AI-based innovations and positioning Jersey as a leader in technical advancement.

He added that the Government are looking to adapt elements of Jersey’s legislation framework to ensure safe ecosystem.

Pictured: Economic Development Minister Deputy Kirsten Morel said that AI will be a “key technology” in helping the island address its main economic challenges.

The Economic Development Minister said that AI will be a “key technology” in helping the island address its main economic challenges, especially around issues of increasing productivity of outcome.

Deputy Morel also spoke about the potential for AI to streamlining processes and freeing up human resources for more creative activities in sectors like finance, legal, technology, and healthcare.

“There's no question that artificial intelligence has the capacity to create significant changes in the workforce," he said.

“These can be very positive in many different ways, freeing people up to focus on other more creative tasks.

“There hasn't been a technology that has particularly put everyone out of work and they and then work not to be available afterwards, which is often the great fear of artificial intelligence."

He added that he believed that AI would change people's jobs rather than replace them.