News Americas, New York, NY, Friday. October 18, 2024: The British Caribbean territory of Anguilla has taken another important step in its digital evolution, signing a new agreement with US-based company Identity Digital on October 15, 2024, to manage its much-coveted internet domain “.he”. This deal comes amid a global surge in demand for AI-related domains as artificial intelligence continues to shape industries around the world.
Anguilla, which has been responsible for the “.ai” domain since the 1990s, is seeing unprecedented revenue growth as companies flock to secure AI-themed web addresses. Despite the change in management, domain registration fees will remain stable, but Anguilla continues to benefit from payments when new “.ai” domains are registered or when expired ones are resold. Some of these domains have fetched tens of thousands of dollars on the market.
The artificial intelligence boom, fueled in part by the rise of technologies known as ChatGPT, has brought a windfall to Anguilla. The island’s earnings from domain registrations rose to $32 million last year, quadrupling its previous income and now accounting for about 20% of the island’s government revenue. This marks a significant change from the pre-AI era, when domain income accounted for only 5% of government funding.
Premier Ellis Webster expressed optimism about financial growth, but remained cautious about relying solely on domain-related income. “We can’t predict how long this will take,” Webster told The Associated Press, stressing the importance of diversifying the island’s economy to avoid potential financial shortfalls in the future. He noted that funds from the sale of the domain have already been earmarked for vital infrastructure projects, including airport expansion, free health care for the elderly and the construction of a vocational training center at the local high school.
Identity Digital, which also manages Australia’s “.au” domain, will take over management of Anguilla’s domain services early next year. This partnership is expected to increase the security, stability and performance of the “.ai” domain, ensuring continued growth and minimizing risks from cybercriminals.
The global AI push has dramatically increased the number of “.ai” domains, with more than 533,000 currently registered – a tenfold increase since 2018. This has positioned Anguilla at the center of the AI domain boom, although The island itself has no significant AI Industry. However, Premier Webster hopes that Anguilla can one day become a hub for AI innovation.
Anguilla’s unique role in the AI-driven digital economy represents an important opportunity for the island to diversify its economy, which traditionally relies on tourism. Revenue from domain sales not only supports infrastructure, but also provides a financial buffer for hurricane recovery efforts and other emergency projects. As the International Monetary Fund noted earlier this year, this revenue helps make Anguilla more resilient to external shocks.
As the AI domain market continues to grow, Anguilla’s partnership with Identity Digital is expected to protect the integrity of its digital presence, reducing fraud risks and ensuring that the domain remains a valuable asset to both the island and the global community. of AI.
