According to CBSL, AI will transform banking and generate social and economic value

the accelerated adoption of artificial intelligence (AI) and digital technologies by local banks in Sri Lanka. Central Bank Governor Dr. Nandalal Weerasinghe highlights AI as a strategic imperative transforming banking operations, improving efficiency, and enhancing customer service. By implementing AI, banks are not only streamlining processes and reducing costs but also addressing financial inclusion for under served populations and supporting sustainable finance initiatives. The article emphasizes the importance of governance and ethical practices in this digital transformation, advocating for a transparent, fair, and inclusive approach to AI utilization.

This provides insight into how local banks can leverage AI technology for a transformative impact on operations. From enhancing customer engagement to addressing social issues of financial exclusion and sustainability, the Central Bank’s emphasis on ethical governance signifies a holistic approach to technology adoption. The article situates AI as a central player in evolving not merely the financial landscape but also the societal fabric, by enabling a more inclusive and sustainable finance system.