We construct a local tri-Hamiltonian structure of the Ablowitz-Ladik hierarchy, and compute the central invariants of the associated bihamiltonian structures. We show that the central invariants of one of the bihamiltonian structures are equal to 1/24, and the dispersionless limit of this bihamiltonian structure coincides with the one that is defined on the jet space of the Frobenius manifold associated with the Gromov-Witten invariants of local CP1. This result provides support for the validity of Brinis conjecture on the relation of these Gromov-Witten invariants with the Ablowitz-Ladik hierarchy.
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