Fueling Jersey's Future: How Smart AI Investment Could Spark Economic Growth

Artificial Intelligence, or AI, is a type of technology that allows computers to do tasks that usually need human thinking, like solving problems or making decisions. In Jersey, experts believe that AI could help the economy grow, but only if there is enough investment. At the Digital Jersey annual review, economist James Linder explained that AI could help Jersey become more productive and successful. However, he said that for Jersey to really benefit from AI, the island needs to invest in teaching people new skills and encouraging new ideas. Linder pointed out that if Jersey wants to 'unlock future productivity growth,' it must focus on both funding and innovation. Tony Moretta, the chief executive of Digital Jersey, also spoke about the importance of AI. He said that AI is already changing how businesses and economies work around the world. According to Moretta, Jersey's approach to AI is 'absolutely fundamental' to the island's future. He stressed that it is very important to use AI in the right way to help businesses grow and to make work more efficient. Moretta also warned that Jersey needs to invest more in digital technology, including AI, and make a real effort to improve people's skills. If Jersey does not do this, he said, the island could fall behind other places that are moving faster with technology. Deputy Kirsten Morel, who is the minister for sustainable development, talked about the government's role in supporting AI. He said that the government is part of the AI Council, which helps guide how AI is used in Jersey. The government has started and supported many digital projects to help Jersey become a more advanced and modern economy. Morel said that AI is definitely going to be part of Jersey's future, and everyone needs to learn how to use it carefully. He explained that AI will bring both challenges and benefits to people in Jersey, and the faster people learn to use AI safely, the better it will be for businesses. James Linder also mentioned that using AI more widely could help Jersey's economy, but businesses need to think about the risks, especially when it comes to jobs. He said that Jersey already has a tight labor market, with more jobs than people to fill them. As the population gets older, there will be even more pressure on the working-age population. Linder explained that new technology like AI can sometimes cause some jobs to disappear, but history shows that technology usually creates more jobs than it takes away. In Jersey, leaders from the government and business are working together to make sure AI is used in a way that helps everyone. They want to make sure that AI brings more good things than problems, and that people are ready for the changes it will bring. With the right investment and training, AI could help Jersey's economy grow and make the island a better place for everyone.