The lack of advanced computing infrastructure, an ecosystem of specialized talent and adequate physical spaces for innovation are three of the “consistent” reasons why companies specialized in technology determine not to establish their operations on the island, he noted this Tuesday. Ella Woger Nieveschief executive officer of Invest Puerto Rico.
Simultaneously, the tax incentives under Law 60, the “strategic” location of the island and the “unique advantages” of being a US jurisdiction, although they are “real and valuable assets”, are no longer elements that, on their own, are sufficiently attractive, he added.
“Our promotional efforts, by themselves, are not enough. To maintain and scale this growth, Puerto Rico needs the infrastructure and public policy that consolidates this nascent ecosystem,” he said, indicating that, even in the face of this panorama, they have managed to get new companies to establish themselves on the island and others, which operate locally, to expand their reach.
“The real question we must answer is not whether we have attractive elements, but whether we have a unique value that no one else can offer.he stressed.
Woger Nieves’ expressions arose during a public hearing of the Senate Committee on Science, Technology and Artificial Intelligence, which evaluated the Senate Bill 769 to define the government’s public policy in the management of artificial intelligence and create a structure for the Artificial Intelligence Development and Innovation Institute.
To ensure that artificial intelligence and emerging technology companies choose Puerto Rico as their destination, it is necessary to guarantee an advanced computing infrastructure, an ecosystem of specialized talent and adequate physical spaces, he said. “The absence of these three components consistently emerges as a determining factor in your decision”he noted.
He also indicated that the development of an artificial intelligence computing center, like the one proposed in the project, would place the country on the global map of jurisdictions with high-performance computing capacity.
“In economic development, the difference between attracting investment or losing it does not lie solely in the numbers on a spreadsheet of tax incentives,” said Woger Nieves. Invest Puerto Rico is the entity in charge of positioning Puerto Rico as a competitive destination for investment.
During the hearing – which lasted more than four hours – there was consensus, among more than a dozen speakers, on the need to develop a clear public policy and the necessary infrastructure.
Willing to take on roles
He Trust for Science, Technology and Researchalthough he agreed with the legislative intention, said that he currently leads many of the functions proposed for the new Institute.
César Piovanetti Fiolthe Trust’s main IT officer, maintained that the organization – created under the Law 214-2004– has promoted innovation, technology commercialization and the development of high-tech jobs on the island through, for example, the creation of a technology transfer office, the establishment of accelerators and incubators and the provision of research grants.
On the other hand, through Parallel18, The Trust’s business acceleration and incubation program has managed to impact more than 50 local artificial intelligence companies. “The Trust operates a wide range of programs that reflect the objectives of the proposed Institute”explained Piovanetti Fiol. “We recommend that the law and its implementation explicitly integrate the capabilities of the Trust.”
Creating a new organization with responsibilities similar to those they perform, he stated, would entail risks of duplication of functions and fragmentation of resources, in a landscape of limited resources. The Trust, he added, has facilities and space for expansion in the City of Sciences.
Piovanetti Fiol proposed using the Trust’s grant program to manage funds in the area, appointing the organization as fiduciary and financial agent of the proposed Institute, and adopting a governance system similar to the one they manage.
“We do not seek to prevent the creation of the Institute. On the contrary, we are willing and available to lead its implementation together with Engine-4 and the Department of Economic Development and Commerce”he explained.
To questions from the senator Wilmer ReyesPiovanetti Fiol recognized that, for the Institute to become a reality, specialists in artificial intelligence would need to be recruited. The Trust currently does not have experts in this matter.
Reyes recognized the availability of the Trust, but maintained that he wanted to “be clear” about the organization’s capabilities to take on the challenge and prevent what is proposed in the legislation “from not having the development it deserves.” “We don’t want to overload you and turn it into an extremely bureaucratic apparatus”explained the senator.
“Many times, good public policy decisions are made and then, in the end, they have to be patched up, and that is what I don’t want,” he insisted.