By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

The Government is developing a ‘white paper’ on the benefits and downsides of artificial intelligence (AI) as it seeks to ensure The Bahamas becomes a Caribbean-leading hub for the technology.

Wayde Watson, parliamentary secretary in the Ministry of Economic Affairs, told the House of Assembly during the 2025-2026 Budget debate that The Bahamas needed to develop the appropriate regulatory regime for both encouraging AI-related innovation and preventing its misuse and exploitation by unscrupulous actors.

He added that AI is expected to add a net 78m jobs globally by 2030, while asserting that The Bahamas has the opportunity to be a Caribbean leader by implementing a clear national policy on AI. Mr Watson added that having a clear AI regime will attract foreign investors to develop the technology for the benefit of tourism, financial services, fraud detection and health.

“This administration is working on formulating a ‘white paper’ as a policy document for review and approval consideration by the Cabinet. Artificial Intelligence is here to stay, and as the Government, we must ensure that legislation and policy are formulated that will regulate AI and any other introduction of global innovative and technological advancements,” said Mr Watson.

Acknowledging that AI can be a “bad vice”, Mr Watson said a strong AI policy will ensure the Government and private sector are protected.

“This administration is seeking to be progressive in this regard. And as you are all aware, artificial intelligence is a tool. It can be both good and it can be a bad vice. Therefore, with the implementation of a national AI policy document, the Government intends to guide its people, the Government and businesses alike, to mitigate any potential negative fall-out,” he said.

Mr Watson revealed that the Government plans to renovate a former Bahamas Telecommunications Company (BTC) building to host a National Data Centre, which will reduce the amount it spends on telecommunications and data storage.

“I am satisfied to advise this House that the demolition of the old BTC swift building is 65 percent complete, and renovations would commence thereafter to facilitate the establishment of the Bahamas government’s National Data Centre,” said Mr Watson.

“The data centre will reduce the Government’s recurring expenditure for telecommunications and data storage significantly, while also enabling the total cost of ownership and computing power.” Mr Watson said a proposal has also been sent in to establish a National Digitisation Office, which will scan and store data.

“The Government is currently challenged with varying degrees of efficiency due to the large number of paper-based, manual legacy systems, and to increase the Government’s efficiency, a proposal is currently under review for the establishment of the implementation of a National Digitisation Office,” said Mr Watson

“This office will scan, index and store, and make available for electronic retrievals across the whole of government in a centralised and integrated way.” Mr Watson also said a final draft of new competition legislation has been prepared.

“As part of a strategy to reduce the cost of living, consistent with our blueprint for change, the Ministry of Economic Affairs [is seeking to] facilitate the development of an up to date, modernised competition policy for the coverage of The Bahamas,” said Mr Watson.

“The consultant, alongside the National Trade Facilitation Committee and the Ministry of Economic Affairs trade unit, provided the necessary support and prepared a final draft of the Bahamas Fair Competition Authority Bill.”

Mr Watson said the Consumer Protection Commission, which falls under the Ministry of Economic Affairs, has cited 16 stores and successfully completed ten court cases. “The unit worked hard to enforce regulations, citing 16 stores for infractions and successfully completing ten court cases, all resulting in guilty pleas, with only six of those cases still outstanding,” he added.