Ernst & Young’s Leader for Global Emerging Technology Ecosystems, Jay Persaud, recently underscored the importance of Guyana being armed with a well-defined policy for artificial intelligence (AI) and digital transformation. This he said will be critical in attracting global players who can help the rising oil producer in its quest for innovation and development.
During his appearance on the Energy Perspectives Podcast, Persaud highlighted that a structured roadmap would signal to investors that Guyana is making strategic investments in its technological future. Persaud noted that President Dr Irfaan Ali has painted an excellent picture about what he wants to do in development of the country, especially for digital transformation.
However, he underscored that Guyana must act swiftly due to the rapid pace of technological changes. Persaud noted that unlike oil-rich countries such as Saudi Arabia and Norway, which had decades to strategize their economic transformation, Guyana must embrace AI and digital advancements at a much faster rate.
“We’ve got to work on getting a roadmap in place for Guyana…and I think we’ve got to work together, figure out what we have today, what are our strengths, and what our assets are,” he noted.
He outlined, “Energy is a big one, obviously. That energy can be converted into electricity, and it can be converted into computing power, right? Data center type things, those things can happen.”
Moreover, Persaud stressed the necessity of leadership, transparency, and collaboration with international stakeholders to ensure Guyana’s digital transformation plan is credible and effective.
“Everyone has to see it. They have to see that it’s transparent and this is something that we’re doing together and we’re serious about it. And then you get to work,” he stated.
Addressing potential challenges, Persaud pointed out that one of the biggest hurdles is navigating uncharted territory. As such, he stressed the importance of having a strong team that believes in the vision and ensuring that the public understands and supports the digital shift.
“We’ve got to have a policy so that people can get to a point where they’re able to feel comfortable with this and to use it,” he said. Persaud noted that Guyana’s relatively small population makes efficient use of AI even more crucial for maximizing productivity.
He also touched on the significance of data mining in driving economic growth, stating, “There’s no AI without data, and so it’s absolutely critical that we get a good understanding of what we have because we’re going to need it to do the kind of training that we need to get these tools to do the work for us.”
