Sri Lanka launches national AI fund

Sri Lanka has launched a National Artificial Intelligence (AI) Fund with an initial investment of Rs. 100 million (US$ 333,000), aiming to foster local innovation and contribute significantly to the country’s digital economy, which is projected to reach US$15 billion by 2030.

According to Biometric Update, the government is targeting a fivefold expansion of the digital economy over the next five years, with AI identified as a key driver of growth.

Dr. Mothilal de Silva, Chairman of Sri Lanka Telecom (SLT), said AI is expected to generate between US$1.5 and US$1.8 billion, accounting for 10–12 percent of the digital economy. He made these remarks at the launch of Sri Lanka’s first AI Expo & Conference 2025, held in Colombo in partnership with the Ministry of Digital Economy and Huawei.

The event, which showcased advancements and opportunities in artificial intelligence, is part of Sri Lanka’s efforts to position itself as a leader in the global AI landscape.