Honorable Deputy Minister of Digital Economy Eranga Weeraratne, joining as the Chief Guest of ITAM-32 International Conference organized by Vavuniya University, announced that the current global economy is undergoing a massive transformation centered on Artificial Intelligence (AI).
The minister emphasized at this conference, theme "Technology-based entrepreneurship for inclusive growth in the AI age," that the minister emphasized that data capitality in the modern digital economy, and innovation acts as the key currency unit. He showed that going beyond conventional small and medium scale businesses, encouraging start ups which use modern technologies such as cloud computer and data analysis is an essential factor for national progress in this country.
Artificial intelligence is not just a technical trend, but a force to reshape productivity in all sectors, such as electricity or internet, the minister mentioned here. He explained how AI technology directly contributes to the diagnostics in the health sector, accurate cultivation techniques in agriculture, digital payments in the financial sector, as well as boosting the efficiency of public service. The minister also said that the technology will provide a great opportunity to Sri Lanka to speed up and advance the existing development phases as a particularly developing economy.
The minister who commented on changes in the job market along with technological advancements, said that the existing fear of losing jobs due to automation is to equip the workforce with new skills. He showed that the government is committed to providing digital literacy and lifelong learning opportunities for it, and roads and harbor as well as data infrastructure are crucial to the country's economy. Here also emphasized that the government considers responsible data control, cyber security and setting up an ethical AI framework as a national priority.
The minister specifically mentioned in his lecture that the benefits of technology should flow equally to all layers of the society. The government aims to provide equal opportunities to rural entrepreneurs, female entrepreneurs and young innovators, minimizing the existing digital gap between urban and rural areas. The minister showed in his lecture that laying the foundation for an economy that no one misses through establishment of broadband facilities and reliable digital financial systems at affordable prices, that national development should be measured not only by the growth of GDP but by improving the quality of life of people through technology.
Deputy Minister of Digital Economy States that AI-Driven Entrepreneurship Will Transform Sri Lanka’s Economy The Hon. Deputy Minister of Digital Economy, Eng. Eranga Weeraratne, stated that a new transformation of Sri Lanka’s economy will be driven through entrepreneurship based on Artificial Intelligence (AI) technology.
Speaking as the Chief Guest at the ITAM–32 International Conference organized by the University of Vavuniya, the Deputy Minister noted that the current global economy is undergoing a massive transformation centered on Artificial Intelligence (AI).
Addressing the conference held under the theme “Technology-Based Entrepreneurship for Inclusive Growth in the AI Era,” the Deputy Minister emphasized that in the modern digital economy, data functions as capital, while innovation serves as the primary currency. He pointed out that encouraging startups that utilize modern technologies such as cloud computing and data analytics beyond traditional small and medium-scale enterprises is essential for national progress.
The Deputy Minister further stated that Artificial Intelligence is not merely a technological trend, but a transformative force comparable to electricity or the internet, capable of reshaping productivity across all sectors. He explained how AI directly contributes to medical diagnostics in the healthcare sector, precision farming methods in agriculture, digital payments in the financial sector, and improved efficiency in public services. As a developing economy, Sri Lanka has a valuable opportunity to leapfrog stages of development and move forward rapidly by embracing this technology.
Commenting on changes in the job market resulting from technological advancement, the Deputy Minister addressed concerns that automation may lead to job losses. He stated that the solution lies in equipping the workforce with new skills. The government, he said, is committed to enhancing digital literacy and promoting lifelong learning opportunities. He also emphasized that just as roads and ports are critical infrastructure for economic growth, data infrastructure is equally vital. Responsible data governance, cybersecurity, and the establishment of an ethical AI framework were highlighted as national priorities.
