The present and future opportunities and challenges posed by the evolving advent of artificial intelligence (AI) were explored at the recent AI Summit Saint Lucia hosted as part of activities marking Productivity Awareness Week.
The AI Summit was held at the Finance Administrative Centre, Pointe Seraphine, on Friday, October 11, 2024, and was organised by the National Competitive and Productivity Council (NCPC) in collaboration with the Department of Economic Development, TaiwanICDF, and the Caribbean Digital Transformation Project (CARDTP).
During the AI Summit, nine AI experts presented on various aspects of AI:
● Mr. Chien Lee (presented virtually from Taiwan), “AI in the Future of Work”
● Mr. Jade Hutchinson, “AI in Agriculture
● Ms. Nysa Pierre, “AI in Software Engineering”
● Ms. Krissa Johnny, “AI in Education”
● Mr. Irvin Smith, “AI in Education”
● Mr. Ross Daniel, “AI in Creative Industries”
● Mr. Howard Wells, “AI in Infrastructure”
● Mr. Simon Chen (Taiwan Technical Mission), “AI in Financial Technology”
● Mr. Stephan Joseph (presented virtually from St. Kitts and Nevis), “AI in Water Infrastructure”
Audience members included H.E. Peter Chia-Yen Chen, Taiwan’s Ambassador to Saint Lucia; Mr. Daniel Lee, Chief of the Taiwan Technical Mission (TTM); Mr. Ray Chou, Third Secretary, Embassy of the Republic of China (Taiwan); Mr. Marlon Narcisse, Director of Public Sector Modernization; and Mr. Jim Joseph, AI Consultant; among others.
Hon. Kenson Casimir, Minister for Youth Development and Sports, made brief remarks at the AI Summit. While cautioning users of AI to steer clear of using the technology for counter-productive purposes, Hon. Casimir said AI can be used in constructive ways that promote personal and national development.
“Artificial intelligence is not going anywhere,” said Hon. Casimir. “I think it’s very important for our young people, for the next generation, to try to get ahead of it as much as possible so you can use it for your overall professional development as an individual, to develop your community, and then, of course, develop Saint Lucia. This is what we all seek to do. This is what the Government of Saint Lucia seeks to do.”
In his presentation, Mr. Chien Lee said AI makes it possible to automate many of the mundane hands-on work and focus more on the higher level of strategic work, such as decision-making and interpersonal communications, areas that still require human intelligence.
“Nevertheless, as technology becomes more accepted and mature, we must also have serious discussions about the constraints and limitations,” he said. “Issues such as bias, privacy and hallucination are all at the forefront of ensuring the healthy development of this revolutionary technology. Therefore, it is imperative that we undertake AI transformation to further ensure global success in the era of AI.”
He said Taiwan has capitalized on the benefits of AI to revolutionize various industries, including the automotive, medical, sports and fitness, textile, services and semiconductors sectors.
“Many of the advancements have been seen in various industries across Taiwan,” Lee said. “By taking Taiwan as a role model in AI adoption, I hope countries around the world will also learn to embrace this change and certainly not stand in its way.”
Meanwhile, Mr. Simon Chen, ICT Project Manager at the Taiwan Technical Mission, explained that AI can be used in key areas of finance, including Risk Management, Credit Scoring, Investment Management (such as Trading and Advisory), and Algorithmic Trading.
“These applications not only improve the efficiency of financial trading, but also help investors make faster and more informed decisions in increasingly complex markets,” Chen said. “As for the aspect of financial institutions, AI has the potential to reduce operational costs, enhance efficiency and reduce the need for human labour.”
Chen added: “Therefore, learning how AI is applied and used across industries has become increasingly important. Currently, Taiwan is relatively mature in the area of AI-driven finance. Through experimental learning and international collaboration, such as what my project, the ICT Capacity Building Project, has done for Saint Lucia. This year, we had a collaboration with NCPC, CARDPT, Orbtronics and upcoming 3D Real Solutions. We can enhance the diversity of financial services offered and drive growth in this sector. I believe this is happening, and we would love to share the success with Saint Lucia.”
Featured presenter, Ms. Nikita Greenidge, of Saint Lucia, explored the topic, “AI in Surgical Robotics”, focusing on the cutting-edge innovations she has been developing, including magnetic endoscopes for colonoscopy and magnetic tentacles for bronchoscopy, all of technologies which have the potential to revolutionize surgical training and healthcare innovation.
The AI Summit also included a Question and Answer, whereby members of the audience posed questions to the presenters.
Following the presentations, there was an AI Expo, where patrons got the chance to engage with the AI experts’ exhibitors who spanned various sectors. The AI Expo featured presentations, and interactive demonstrations featuring cutting-edge AI tools.
This year, Productivity Awareness Week ran from October 7-11, 2024, under the theme, “The AI Effect: Using Innovation to Reshape Productivity and Enhance Competitiveness”.
SOURCE: Embassy of the Republic of China (Taiwan) in Saint Lucia.