Digital Isle of Man, an executive agency within the government Department for Enterprise, signed a Memorandum of Understanding (MOU) with AI Singapore on 14 March to collaborate on activities of mutual interest and benefit in Artificial Intelligence (AI).
AI Singapore, which is hosted by the National University of Singapore, is a national AI programme launched by the National Research Fund to anchor deep national capabilities in AI to create social and economic impact, grow local talent and build an AI ecosystem in Singapore.
This collaboration is intended to accelerate the Isle of Man's capabilities in AI through knowledge sharing, leading to a strong and robust AI-ecosystem, as well as bringing widespread social and economic benefits to the Island.
Digital Isle of Man is committed to accelerating initiatives in AI and has announced its intention to publish a national artificial intelligence (AI) strategy before the end of 2024, which will focus on innovative ways to deploy AI across key sectors of the economy. The three central planks of the strategy are:
- Support services to be provided for businesses to utilise AI to drive productivity and develop new products and services across all sectors, with the aim to increase gross domestic product by 10% (£530 million) by 2030.
- Increased investment to leverage AI to deliver better public services more efficiently, ensuring that the island benefits from smarter, faster and reliable services.
- Development of a national strategy, creating a trusted environment for AI safety and governance, by fostering a regulatory environment that prioritises user safety while encouraging innovation.
In line with these ambitions, initial funding has been secured from the economic strategy board to further progress at pace the AI programme. The plans include collaboration with international AI leaders and jurisdictions and the recruitment of AI experts to support the development and implementation of the national AI strategy.
"AI is not a new technology, but one which has dominated headlines and boardrooms over the past 18 months due to its increased accessibility. AI is a truly general-purpose technology of which the impact and potential has been recognised across all sectors and indeed our daily lives," said Digital Isle of Man chief executive Lyle Wraxall.
'We believe the Isle of Man has an opportunity to capitalise on the potential of this technology to ensure we are maximising its ability to increase productivity across all sectors, contributing to positive economic growth over the long term, and developing a trusted environment with a focus on safety and governance."
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