Sri Lanka targets US$ 1.8bn AI sector by 2030

From left: Digital Economy Ministry Secretary Waruna Sri Dhanapala , SLT Group Chairman Mothilal de Silva, Deputy Minister for Digital Economy Eranga Weeraratne, Presidential Advisor on Digital Economy Dr. Hans Wijesuriya and SLT Group CEO Janaka Abeysinghe

Pic by Pradeep Dilrukshana

• Launches Rs. 100mn seed fund 

By Nishel Fernando 

Sri Lanka has set an ambitious goal for its artificial intelligence (AI) sector contributing US$ 1.5 to US$ 1.8 billion, or 10-12 percent, of the nation’s projected US$ 15 billion digital economy by 2030. 

To spearhead this initiative, a National AI Fund will be established with an initial investment of Rs.100 million to foster homegrown innovation.

The announcement was made by Sri Lanka Telecom (SLT) Chairman, Dr. Mothilal de Silva, during the launch of Sri Lanka’s first-ever AI Expo & Conference 2025, held in Colombo yesterday. The event, a collaboration with the Ministry of Digital Economy and Huawei, aims to position Sri Lanka as a leader, not a follower, in the global AI revolution.

“The question is not whether AI will transform the world, but if Sri Lanka will lead or follow,” Dr. de Silva said. “These figures are more than projections; they represent livelihoods uplifted, services transformed, and new markets unlocked.”

The upcoming AI Expo, scheduled for September 29th and 30th, will serve as the cornerstone of this national strategy. It will feature international speakers from tech giants like Meta and Huawei, alongside live demonstrations of AI applications in critical sectors such as healthcare, education, and agriculture.

To ensure widespread access and democratize technology, Dr. de Silva announced that mini expos will also be held in Jaffna, Anuradhapura, Galle, and Kandy. The National AI Fund, launched in parallel with the expo, is designed specifically to fuel local AI startups and research, creating a self-sustaining ecosystem for innovation.

Dr. de Silva emphasized SLT-Mobitel’s strategic shift from a traditional telecommunications company to a comprehensive technology enabler. He positioned the company’s robust infrastructure as the “bedrock of scalable intelligent innovation” crucial for the nation’s AI ambitions. Key assets include a nationwide fiber network providing high-speed connectivity, a 5G-ready Mobitel network to enable real-time AI applications, and AI-upgradable data centers and cloud solutions to support scalable development.

“Our extensive infrastructure reaches 95 percent of the population. This is the foundation for nationwide AI adoption,” he noted.

He pointed to existing SLT-Mobitel AI solutions such as ‘Hello AI’, a mobile package for youth, and ‘AI Pass’, a legal research platform, as tangible proof of how AI can be integrated into society to enhance lives and create value.

Dr. de Silva concluded with a call for collective action among the government, private sector, and academia. 

“Together, we will transform Sri Lanka into an AI leader — innovative, inclusive, and inspired by responsibility.”