Sri Lanka considers pioneering universal basic AI scheme to ease foreign exchange pressures

Sri Lanka is examining the feasibility of launching a universal basic artificial intelligence programme, a potentially groundbreaking approach to tackling the island's persistent foreign exchange challenges. The scheme would represent the first initiative of its kind globally, positioning the country at the forefront of innovative economic policy.

The proposed pilot programme would harness artificial intelligence capabilities to create value and economic opportunities for citizens, with the underlying objective of reducing pressure on the nation's limited dollar reserves. By democratising access to AI tools and applications, policymakers believe the initiative could generate new income streams and reduce reliance on imported goods and services.

The concept builds on the principle of universal basic income but applies it specifically to AI-driven economic participation. Officials have indicated that a pilot phase would test the viability of the model before any wider rollout, allowing authorities to assess implementation challenges and economic impacts.

Sri Lanka has faced significant macroeconomic headwinds in recent years, with foreign exchange reserves emerging as a critical constraint on economic stability and growth. The government continues to explore unconventional policy approaches to address structural economic imbalances while supporting household incomes.