Anguilla, a small Caribbean island, has benefitted greatly from the boom in artificial intelligence, thanks to its ownership of the .ai internet address. The island’s earnings from web domain registration fees quadrupled last year to $32 million, making up 20% of its total government revenue. This windfall has helped fund key projects, relieve financial pressure on the government, and boost the local economy.
Despite the lack of its own AI industry, Anguilla hopes to become a hub for the technology in the future. Premier Ellis Webster acknowledges the importance of not solely relying on the revenue from domain registrations and is planning for future economic diversification.
To keep up with the growing demand for .ai domains, Anguilla has signed a deal with Identity Digital, a U.S.-based domain management company, to manage the effort. This partnership will increase revenue for the government, improve security for the web addresses, and ensure the island’s economy is more resilient to external shocks.
With over 533,000 .ai web domains registered, Anguilla expects its domain-related revenues to continue rising, potentially doubling this year. The funds generated will support various projects, including airport expansion, free medical care for seniors, and vocational technology training centers.
By partnering with Identity Digital, Anguilla aims to safeguard against cyber threats and ensure that .ai websites are faster and more accessible to users globally. This strategic move will enhance the island’s digital infrastructure and protect against potential disruptions in the future.
Source
Photo credit www.dailynews.com
