The locality of bulk physics at distances below the AdS length scale is one of the remarkable aspects of AdS/CFT duality, and one of the least tested. It requires that the AdS radius be large compared to the Planck length and the string length. In the CFT this implies a large-N expansion and a gap in the spectum of anomalous dimensions. We conjecture that the implication also runs in the other direction, so that any CFT with a large-N expansion and a large gap has a local bulk dual. For an abstract CFT we formulate the consistency conditions, most notably crossing symmetry, and show that the conjecture is true in a broad range of CFT's, to first nontrivial order in 1/N 2: in any CFT with a gap and a large-N expansion, the four-point correlator is generated via the AdS/CFT dictionary from a local bulk interaction. We establish this result by a counting argument on each side, and also investigate various properties of some explicit solutions.