Sri Lanka to start National AI Fund

Sri Lanka is launching a National AI Fund with an initial investment of Rs 100 million (US$ 333,000) aimed at nurturing local innovation and adding significantly to the US$15 billion digital economy targeted by 2030, according to a report published by Biometric Update.

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Sri Lanka is aiming for a fivefold growth in its digital economy over the next five years, with a strong emphasis on artificial intelligence (AI) as an essential element of its growth strategy.

AI is projected to generate between US$1.5 to US$1.8 billion, representing 10-12 percent of the digital economy, Dr. Mothilal de Silva, Chairman of Sri Lanka Telecom (SLT), said at the launch of Sri Lanka’s first AI Expo & Conference 2025 in Colombo, organised in partnership with the Ministry of Digital Economy and Huawei. The event is designed to position Sri Lanka as a leader in the global AI landscape.