By NEIL HARTNELL 

Tribune Business Editor 

nhartnell@tribunemedia.net

THE Prime Minister says the inability to “fully leverage” technology is “the biggest missed opportunity” that The Bahamas and wider region face as he called for “robust” artificial intelligence (AI) regulation.

Philip Davis KC, in his address to the Caribbean’s 39th CANTO communications conference earlier this week, warned that technology’s “true potential” to drive social and economic improvement will only be realised if Bahamians and their regional counterparts are properly equipped with the skills to use it effectively.

Besides greater technology literacy, he argued that The Bahamas and other Caribbean countries “should not fear a future with AI. Rather, we should fear a future where AI operates without global standards and regulations”.

The Prime Minister thus called for “robust global frameworks” to govern AI’s development and ensure it generates only positive benefits, adding: “We must tame this technological bull before it’s too late.” He compared technology’s evolution to “driving a car on a bumpy road with limited visibility”, citing cyber security dangers; digital skills gaps; infrastructure weaknesses; and affordability as critical risks.

Asserting that advances in digital technologies are creating “unique challenges” for small island developing states (SIDS) such as The Bahamas, Mr Davis said: “Just like you wouldn’t jump into a car without knowing how to drive, you can’t navigate the digital world without the basic knowledge. That’s why skills development is so important.

“As we look toward the future, it’s clear that technology is a powerful tool for progress and economic growth. However, the true potential of this tool can only be realised if our citizens are equipped with the knowledge and skills to use it effectively. The biggest missed opportunity we face is having advanced technology at our disposal but lacking the widespread literacy to leverage it fully.”

Mr Davis said the skills required go beyond know- ing how to use a computer or smart phone, adding that The Bahamas and other Caribbean states “must prioritise education and training in digital skills” to help drive innovation and develop more inclusive economies that offer opportunities for all.

“By promoting technology literacy across the Caribbean, we can ensure that our people are not left behind in this digital age,” the Prime Minister said, noting that this nation and its neighbours face multiple challenges in keeping pace with the speed and breadth of digital evolution.

“We’re speeding down the technological highway with limited insurance. Limited infrastructure, digital skills gaps, device affordability and cyber security threats are challenges we all face. It’s like driving a car on a bumpy road with limited visibility. We need to work together to improve the road conditions and equip ourselves with the skills to navigate safely,” he added.

“As we stand on the brink of a future defined by artificial intelligence (AI), it’s essential to recognise both its potential and its risks. We should not fear a future with AI. Rather, we should fear a future where AI operates without global standards and regulations. The unchecked growth of AI could lead to significant challenges, including ethical dilemmas, privacy violations and unintended consequences.

“It’s crucial that we establish robust global standards and regulatory frameworks to govern the development and deployment of AI. By doing so, we can ensure that AI serves humanity in a safe, ethical and beneficial manner. We must tame this technological bull before it’s too late, guiding its power to enhance our lives while mitigating its risks,” Mr Davis continued.

“Moreover, we can leverage technology itself to detect and prevent abuses that come with rapid advancements. Using AI and other digital tools, we can create systems that monitor, report and address issues such as data breaches, misuse of personal information and biased algorithms.

By doing this, we can foster a more secure and trust-worthy technological environment.”

Calling for countries to work together “to shape a future where AI and other technologies are aligned with our values and societal goals, ensuring a safer and more equitable world for all”, Mr Davis said: “The question isn’t where to go; it’s how fast we can get there together.

“We cannot afford to be passengers in the digital revolution, clinging to the past. We must be the architects of our future, embracing innovation with open arms.... The digital divide must not become a chasm. We need to equip everyone with the skills and resources to participate in this new world.”

Touting The Bahamas’ central bank digital currency (CBDC), the Sand Dollar, for helping to foster greater financial inclusion, Mr Davis said 100,000 residents presently use the Government’s MyGateway platform for licence renewals, permit applications, public records requests and other online services.

He pledged that The Bahamas’ National Vision 2030 will “include a more comprehensive digital transformation road map, ensuring the best services reach all Bahamians, regardless of location or economic status”, with this nation also seeking to “help bridge that gap” over the world’s need for 2.5m extra cyber security jobs. A regional Digital Skills Centre is also planned at the University of The Bahamas.

“In our quest for progress, we must resist the temptation to focus solely on the revenue and balance sheets. While financial health is important, under-investment in technology to keep capital up should not come at the expense of social progress,” Mr Davis said.

“Instead, let us channel our innovations toward making a meaningful impact on our communities, prioritising human development over corporate profits. By focusing on the social impact of technology, we can build a future where progress is measured not just in economic terms but in the well-being and empowerment of our people.

“This is the true essence of a sustainable digital transformation – one that places humanity at its core.”