The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Bahamas can more than double artificial intelligence’s (AI) projected boost to its annual economic output to between $500m-$750m within ten years “if we understand how to do it correctly”, a local technology provider asserted yesterday.

Keith Roye II, Plato Alpha Design’s chief operating officer, told Tribune Business that the up to $348m gross domestic product (GDP) increase forecast by a study launched at the recent Commonwealth Heads of Government summit was “conservative” but The Bahamas must now introduce and roll-out AI education into its schools if it is to reach these heights.

Suggesting that The Bahamas is “scratching the surface of what we as humans can do with AI”, and its impact on the digital economy, he added that this nation needs to increase conversation on “the ethical use” of these advances with the Government applying “rules and regulations” that govern - but do not unduly restrict - its use.

Mr Roye, also vice-chairman of the Bahamas Chamber of Commerce and Employers Confederation (BCCEC), told this newspaper that AI’s emergence could also lead to a generational divide if this country is not careful, with the likes of “Baby Boomers, Generation X-ers and Millenials” and others getting left behind if they fail to keep up with technology’s progress.

Speaking out after the Ayre Index, produced by a think-tank founded by an Antiguan-Canadian entrepreneur of the same name, estimated that AI’s adoption could expand Bahamian economic output by a “conservative $111m” or “optimistic $348m” within ten years, Mr Roye said: “I think it’s a start.

“I think AI in The Bahamas could reach anywhere from $500m, half-a-billion, to $750m or three-quarters of a billion dollars, increase in our GDP if we understand how to do it correctly, whether it’s baking it into the agriculture industry, baking it into the fishing industry, even baking it into tourism. All of these things can help us increase our GDP.

“I think it’s [the Ayre Index] on the conservative end. This is a big opportunity for companies utilising these skills sets. I think we are scratching the surface of what we as humans can do with regard to AI.”

The Ayre Index suggested that “moderate”, or likeliest scenario if this nation truly harnesses and adapts to AI, is an annual $230m GDP increase within ten years. However, Mr Roye added: “I think we in The Bahamas can do a whole lot more with utilising AI, especially around business operations. This year, in my own business, we have done a lot of shifting in how we operate.

“In a number of areas, we automated a lot of internal processes with AI for ourselves mainly. We would essentially have AI baked into Triblock (Plato Alpha’s flagship payroll and human resources software) and perusing resumes automatically; being able to essentially give feedback based on the sentimental analysis.”

He explained that performance reviews provided by staff are assessed with help from an AI tool to help determine “the overall mood of everybody and create key take aways into the next year”. Mr Roye added: “We use AI to automate a lot of the testing of our software, we use AI to help with the development of the product.

“I think it’s a growth and job opportunity. It comes down to us upskilling our workforce and introducing AI in the school system from a young age. It’s going to change the way we learn at school, it’s going to change the way we teach, and it’s even going to change the way we conduct testing. I think we can do a much better job seeing we are middle of the road in terms of our ranking.”

The Ayre Index ranked The Bahamas 30th out of the group’s 56 member nations over how prepared its youth are to harness the opportunities presented by AI and rapidly-evolving technologies.

This nation was among the 41 nations currently rated as below the necessary AI readiness benchmark, scoring 44.7 out of 100, which placed it below the likes of Trinidad & Tobago; Fiji; Nigeria; Ghana; Jamaica; Kenya; Uganda; and Antigua and Barbuda. However, The Bahamas’ middle-of-the-pack ranking still kept it ahead of Barbados and most Caribbean rivals.

The Ayre Index said in a statement that The Bahamas ranked especially poorly on the education and training necessary to prepare its young population, estimated as 89,175-strong and more than one in five citizens, scoring only ‘two out of ten’. However, it seemingly attributed much of the poor performance to data gaps as many of the indicators it assessed for its rankings were not available for The Bahamas.

Mr Roye yesterday said these data gaps are “not too concerning” as these have historically been an issue for The Bahamas given the need for improved evidence-based decision-making. He added that the Bahamas National Statistical Institute (BNSI) is moving to improve data capture and gathering, and urged the Government to employ AI to assist this process.

“At least from what I’m seeing, in the last six months there have been a lot of companies popping up offering digital services that I think are using AI tools to build their products,” the Plato Alpha chief said. “They have to be - these companies are coming to market, launching these products and the speed at which they are doing so, the only thing I can think of is they are using AI for development.

“All these things, I think, are going to help propel the GDP of The Bahamas. I think that, with the advance of AI, there has to be more talk about the ethical use of AI and the Government putting in rules and regulations to govern this thing as we continue to matriculate our use of this technology.

“We need to start to roll-out the education of young people in AI from as early as primary and junior high. There should be tools, things they are taught to use from a very early age that engage them to have a better understanding.”

Mr Roye warned of a “divide” emerging between those Bahamians who are AI ready and those who lack the training, skills and knowledge to properly exploit its benefits. He added that recent conversations had exposed some as unaware of the possibilities that AI brings if they were to incorporate it into their operations.

“It’s going to be the future,” he said. “When I was growing up in the 1990s, the Internet started to run and, from that standpoint, made it possible for me to get into the computer science field, so it’s very much important for young people. I think everything is going to be good.”

The Ayre Index, in its Bahamas assessment revealed last week, said: “Artificial intelligence could make The Bahamas' economy $230 million larger after ten years,” the Ayre Think Tank said in a statement. “The potential economic benefits are significant. The Bahamas has approximately 89,000 young people aged 15 to 29.

“Using estimates developed by the International Monetary Fund, researchers calculate that AI could make the country's economy $230m larger after ten years. The figure ranges from $111m under the most conservative scenario to $348m under the most optimistic….

“The Bahamas has relatively strong digital infrastructure. Electricity access is universal, 4G networks cover 95 percent of the population and an International Telecommunication Union (ITU) estimate puts Internet use at 92.5 percent of the population. These advantages help the country score an impressive 8.2 out of 10 for meaningful access.”

But it then remarked on “how little is known about young Bahamians' actual experience of AI. The Bahamas has the highest weighted Data Gap index score in the Commonwealth, at 78.5 out of 100, with qualifying information missing for 78 of the study's 111 measures. Researchers could not establish reliable scores for young people's digital capability, actual AI use or confidence in the technology,” the Ayre Index said.

“Education, though, emerges as a particular concern. The Bahamas scores two out of ten for education and training provision, although this assessment is based on just three measures rather than a complete picture of the country's education system.

“In 2024, some 11 percent of young Bahamians in the labour force were unemployed, while an International Labour Organisation estimate put 15 percent of those aged 15 to 24 outside work, education or training in 2025. These findings highlight the importance of equipping young people with practical skills that will help them find jobs, develop businesses and benefit from AI.”