Nick Ogden is widely recognised as one of the founding fathers of Fintech, after starting WorldPay in Jersey in the 1990s and then creating the first clearing bank in the UK in 250 years. He’s come back to the Island to launch his latest business venture and said Jersey’s reputation and experience as an International Finance Centre, combined with support from government and regulator, means the Island can be at the forefront of fintech innovation.
Nick was speaking at the Digital Jersey Annual Review, where Dame Wendy Hall, Regius Professor of Computer Science, University of Southampton, and Co-Author of the UK Government’s AI Review, also told the audience that Jersey’s autonomy and sandbox culture, means that it can become the AI start-up choice. Opportunities will also come because she believes the EU will over-regulate AI and stifle innovation there.
Dame Wendy, who was appointed the UK government’s Skills Champion for AI, said she would be working with Digital Jersey to develop AI training for Islanders locally.
Digital Jersey CEO, Tony Moretta, told attendees that the Island would be having a greater presence at global fintech events while continuing to promote its sandbox opportunity and world leading connectivity, “2019 was a year for investment and bolstering our foundations. This year we will be forging ahead with not only fintech, but also digital health, IoT and AI, and making a positive difference to every islander.”
The Annual Review audience was shown the initial work which has been done on the digital twin of Jersey by AugmentCity CEO Joel Mills. Every building on the island has been mapped and can take data from any source allowing decision makers to visualise the impact of different planning scenarios.
The data from AirSensa’s air quality monitoring system – the first jurisdiction-wide project in the world – has already been put into the digital twin. Gary Barnett, CTO of AirSensa shared an update on the project.
Kari Aina Eik, Leader of the United Nations Smart Sustainable Cities programme said Jersey now has a unique opportunity to be an exemplar jurisdiction by utilizing the digital twin.
Senator Lyndon Farnham, Deputy Chief Minister and Economic Development Minister, promised continued government support and funding to keep Jersey’s place at the cutting edge of the world, “Digital isn’t a sector, it’s in all of our lives and we need to be bold and innovative and make 2020 the year of pushing boundaries.”
The Digital Jersey Annual Review took place at Cineworld, Friday 31st January, where around 300 attended the sold-out event.
You can view the 2020 business plan and 2019 highlights online.