标签： Trinidad and Tobago

The rise of artificial intelligence (AI) is fundamentally transforming the global workforce, challenging traditional job structures and reshaping industries. While the phrase ‘AI won’t take your job – but someone using AI will’ offers a sense of optimism, the reality is far more complex. Companies worldwide are increasingly citing AI as a reason for cutting thousands of white-collar roles. Amazon’s CEO, Andy Jassy, recently highlighted that AI enables teams to achieve more with fewer people, signaling a shift in workforce dynamics.

Jobs are not monolithic but rather collections of tasks. Research from McKinsey & Company reveals that AI can perform 30 to 70 percent of these tasks, altering the economic viability of many roles. When AI handles half of a job’s workload more efficiently, companies face three choices: eliminate the role, merge it with another function, or redesign it into an AI-assisted position. This gradual erosion of tasks is particularly evident in routine cognitive work, such as data entry, report writing, and document review, which AI now manages with near-professional precision.

Gartner predicts that by 2026, 20 percent of organizations will use AI to flatten their hierarchies, eliminating half of their middle-management layers. AI systems are now capable of handling coordination, analytics, and communication—functions traditionally overseen by managers. This shift is creating what McKinsey terms the ‘agentic organization,’ where small human teams supervise networks of AI agents, resulting in leaner companies and faster decision-making.

While AI is automating many tasks, it is also driving job transformation. In medicine, surgeons use AI to enhance decision-making during operations. In law, AI tools save lawyers an estimated 240 hours annually by handling contract analysis and legal research. In marketing, generative AI has reduced content creation costs by 30 to 50 percent. AI acts as a copilot, handling repetitive work so humans can focus on creativity and judgment. However, companies often fail to replace eliminated tasks with new creative roles, leading to workforce reductions.

AI is also reshaping income distribution. According to PwC’s Global AI Jobs Barometer (2025), industries like finance, IT, and professional services are experiencing productivity growth five times faster than sectors like manufacturing or transport. Workers with advanced AI skills command a 56 percent wage premium, while routine professional roles face decline. This dynamic is compressing the middle class and rewarding those who can direct, train, or govern AI systems.

One of the most pressing concerns is the hollowing-out of the career ladder. AI is automating entry-level tasks that once provided young professionals with learning opportunities. Simultaneously, firms are adopting ‘AI-first’ hiring policies, deploying automation before opening new roles. This trend raises questions about how the next generation of managers and specialists will be trained.

Governments are responding differently to these challenges. The European Union’s AI Act classifies workplace AI as ‘high-risk,’ demanding transparency and safety protocols, which slows innovation but protects workers. In contrast, Singapore is rapidly building an AI-fluent workforce through national upskilling initiatives and a government-backed ethics framework called AI Verify.

In conclusion, AI is not eliminating all jobs but is dismantling the structure of work as we know it. Tasks are being automated, hierarchies flattened, and entry points erased. The future will favor individuals and nations that master AI literacy, creative judgment, and the ability to design systems rather than merely operate within them. As companies in the Caribbean and beyond adopt digital tools more aggressively, the question is no longer if AI affects our jobs, but how quickly we adapt. When half of your tasks vanish, what remains is a test of the true value of the human element in your work.

The National Investment Fund Holding Company Ltd (NIF) is undergoing significant changes as four board members have resigned, and seven new members have been appointed. The resignations, effective from October 28, include Chairperson Jennifer Lutchman, along with board members Nadira Lyder, Dexter Jaggernauth, and Cindy Pierre. The vacancies have been filled with the appointment of Dr. Sandra Sookram as the new chairperson, Patrice Jameela Ayoung-Chee as deputy chairman, and Aiden Boodoo, Shivanand Maharaj, Vandanna Singh-Maharaj, and Dexter V. Ragoonath as board members. The new board will serve a two-year term starting October 28. Established in 2018, the NIF was created to manage assets received by the government from Clico’s shareholdings, following a $4 billion government bailout in 2009. The fund has since repaid the bailout and made significant interest distributions, totaling $2.4 billion since its inception. Notable assets under the NIF include Republic Financial Holdings Ltd, One Caribbean Media Ltd, West Indian Tobacco Company Ltd, Angostura Holdings Ltd, and TT Generation Unlimited. The NIF has also made multiple coupon payments to bondholders, including a recent $9 million payment under the NIF 2 bond offer launched in 2022.

As the global economy increasingly relies on cutting-edge technologies like artificial intelligence (AI) and robotics, Trinidad and Tobago (TT) faces a critical question: Is the nation prepared to seize the opportunities these innovations present? The answer, unfortunately, is far from reassuring. Recent data paints a troubling picture of TT’s declining performance in global innovation benchmarks. On the 2024 Global Innovation Index, TT ranked 108th, a significant drop from its peak at 68th in 2008. Similarly, the UNCTAD Frontier Technology Readiness Index shows TT slipping to 86th in 2025, down from 75th in 2021. These rankings highlight systemic weaknesses in industrial capacity and research and development (R&D), with TT scoring 122nd and 130th globally in these areas, respectively. The nation’s R&D expenditure remains below 0.5% of GDP, and patent filings are alarmingly low, averaging just one per year. Despite these challenges, there are glimmers of hope. Ramps Logistics’ AI-driven solution, MAWI, is revolutionizing customs brokerage and generating foreign exchange, while Carib Brewery’s $200 million smart manufacturing initiative marks a bold step toward industrial modernization. These successes underscore the potential for TT to tap into the $2.5 trillion global frontier technology market, projected to grow to $16.4 trillion by 2033. To bridge the innovation gap, TT must prioritize R&D and industrial capacity, strengthen governance frameworks, and support SMEs in adopting advanced technologies. The urgency of these reforms cannot be overstated, as failure to act risks leaving TT behind in the rapidly evolving global economy.

The Caribbean’s economic narrative has long been shaped by its exports—oil, gas, tourism, and rum. However, the region’s future prosperity hinges on empowering its women, innovators, and small enterprises. This was the central message delivered by Vashti Guyadeen, CEO of the TT Chamber of Industry and Commerce and President of Caribbean Women in Trade (CWIT), at the Caribbean Women in Trade conference in Saint Lucia.