With AI rapidly disrupting the world as we know it, Cayman’s government has launched a National Digital Transformation Strategy Taskforce.
The taskforce, which is comprised of key private-sector players from the Cayman tech scene, will focus on three pillars: digital trust; intelligence and transformation; and digital assets and economic growth.
Speaking on Compass TV’s Forefront on 10 Oct., Premier André Ebanks explained why the taskforce matters. “Because the technology is evolving at a rapid pace, affecting every aspect of society through AI and innovation, myself and Isaac Rankine, as minister of innovation, said, ‘okay, this is now really a national issue’.”
Speaking at the 6 Oct. launch of the taskforce at the Grand Cayman Marriott Beach Resort, Rankine, whose ministry will act as the secretariat for the taskforce, told the members that “what we are about to embark upon will be key for our future.”
The taskforce will be chaired by Cristina Spratt, the former country manager for Flow, who recently founded Tidal Edge Consulting. The other committee members are: Jeff Goddard, Kaitlyn Elphinstone, Jason Nehra, Alexandra Forsell, Lucy Frew, Tamsin Deasey, Lucia Gallardo and James McFee.
“All of us are honoured to have been selected for this taskforce, and we have a shared purpose – to guide Cayman’s digital transformation in line with global best practices and national priorities,” said Spratt. “Each of us brings unique expertise and perspective, and it is this diversity of skills and viewpoints that will make our work both meaningful and impactful.”
Building on Cayman’s tech sector
The taskforce will have six months to deliver takeaways for the government to consider. That guidance will be based on the three pillars: digital trust, intelligence and transformation, and digital assets and economic growth.
When it comes to ‘digital trust’, the aim is to use cybersecurity and data governance to build a digital backbone that can allow government, companies and society to use new technologies safely. The ‘intelligence and transformation’ pillar will look to harness emerging tech like AI to modernise government, upskill workers and boost private-sector innovation. While the ‘digital assets and economic growth’ pillar will guide Cayman’s plans to diversify its financial services sector into digital assets.
The taskforce has been set a tough task, yet one factor working in Cayman’s favour is that it already has a robust tech sector. On 9 Oct., Cayman Enterprise City announced stellar results in the latest global free zone rankings from fDi Intelligence.
fDi Intelligence, which is part of the respected Financial Times group, listed CEC as the world’s sixth-best free zone. In a separate category CEC was ranked as the best knowledge zone in the Americas and the second-best on the planet.
“These awards reaffirm that our offering is amongst the world’s best solutions for knowledge and technology businesses and reflect the strength of our vibrant and growing ecosystem that continues to positively shape the future of the Cayman Islands,” said Charlie Kirkconnell, CEO of Cayman Enterprise City.
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