The tiny Caribbean island of Anguilla is reaping the benefits of the artificial intelligence boom in a big way. With the domain name “.ai” assigned to the island, companies looking to showcase their involvement in the A.I. industry are flocking to register internet addresses, bringing in millions of dollars in fees for the British territory.
Last year alone, Anguilla’s government made about $32 million from these domain registration fees, amounting to more than 10 percent of the territory’s gross domestic product. This unexpected windfall has allowed the government to provide free healthcare for citizens 70 and older, invest in education and vocational training facilities, improve infrastructure such as the airport, and increase funding for sports activities and medical treatment overseas.
Anguilla’s premier, Ellis Webster, described the situation as “God smiling down on us,” acknowledging the fortunate turn of events for the island nation. The control of the “.ai” domain dates back to the early days of the internet, but it wasn’t until recently that the potential for significant income was realized.
Other small island nations have also benefited from similar domain name bonanzas, such as Tuvalu selling the rights to “.tv” for $50 million and Niue exchanging the rights to “.nu” for internet connectivity. However, Anguilla stands out for its proactive approach in capitalizing on this unexpected jackpot.
As the A.I. industry continues to grow, Anguilla is poised to continue reaping the rewards of its valuable domain name. With plans to sustain and build upon this newfound source of income, the future looks bright for this small Caribbean island.
