AI will take away SL’s business outsourcing revenue: MP

Colombo, July 27 (Daily Mirror) - Indicating that artificial intelligence (AI) will affect Sri Lanka's economy in an unimaginable way, Opposition MP Ravi Karunanayake said it has already begun to take away the revenue which the country has been generating out of business process outsourcing.

"The emergence of AI has already made one company engage in providing business process outsourcing service to reduce salaries for its employees," he added. 

Also, the MP said the reduction in Sri Lanka's birth rate will have a negative effect on the country. 

"The fact of the matter is that Sri Lanka's aging population will increase as a result of the reduced birth rate, which is even less than one percent. Sri Lanka will have to face certain social and economic issues with the increase of the aging population," he said. 

Furthermore, he said Sri Lanka should focus on energy security in the wake of hostilities in the Middle East. 

"Sri Lanka should focus on making the rupee stable so that the increase of oil prices will be manageable with a stable local currency." 

"Another fact which the country should focus is power. There could be a high demand for renewable energy later this year and early next year with the El Nino phenomenon which is expected to hit Sri Lanka. Sri Lanka should focus on renewable energy in that scenario," the MP also said.