Category: Daily Financial Times

In the digital age, cybersecurity has become one of the most critical yet least visible forces supporting business success. While companies focus on innovation, growth, and customer engagement, an invisible shield works behind the scenes to protect data, systems, and trust. This ‘tech factor’ is no longer just an IT concern – it is a core business priority.

Today, data is one of the most valuable assets an organization owns. Businesses collect and store vast amounts of customer information, financial records, operational data, and strategic plans. From online transactions to cloud storage and remote work platforms, digital systems power daily operations. However, this connectivity also creates vulnerabilities. Cybercriminals continuously search for weaknesses, using sophisticated methods to steal information, disrupt services, or demand ransom.

The consequences of a cyberattack can be severe. Financial losses from fraud or system downtime can be significant. Even more damaging is the loss of customer trust. When data breaches occur, customers may hesitate to share information again, and reputations built over years can be damaged in days. For many organizations, cybersecurity is now directly linked to brand value and business continuity.

Modern cybersecurity is built on multiple layers of protection. Firewalls act as the first line of defense, controlling incoming and outgoing network traffic. Encryption protects sensitive information by converting it into unreadable code unless accessed with proper authorization. Multi-factor authentication adds another layer by requiring users to verify identity through more than one method, such as passwords and mobile verification codes.

However, traditional defenses are no longer enough on their own. Cyber threats evolve rapidly, requiring intelligent systems that can adapt. Artificial Intelligence (AI) is now a powerful tool in cybersecurity. AI-based security platforms analyze vast amounts of network data in real time, identifying unusual behavior that could indicate an attack. These systems learn patterns and can respond faster than human teams, stopping threats before they spread.

Continuous monitoring has also become essential. Security teams track network activity 24/7, watching for suspicious access attempts or irregular system behavior. This proactive approach allows organizations to respond quickly rather than reacting after damage occurs.

Despite advanced technology, human behavior remains one of the biggest cybersecurity risks. Many attacks begin with simple phishing emails that trick employees into revealing passwords or clicking malicious links. As a result, cybersecurity awareness training is now a standard practice in forward-thinking organizations. Employees are taught how to recognize suspicious activity, use secure passwords, and follow safe data handling procedures. Building a culture of security awareness ensures that every staff member becomes part of the defense system.

The rise of remote and hybrid work has further emphasized the importance of cybersecurity. Employees accessing company systems from home networks or personal devices create additional entry points for attackers. Businesses must secure endpoints, use virtual private networks (VPNs), and enforce strict access controls to maintain protection outside traditional office environments.

Regulation is another driving force behind cybersecurity investment. Governments and international bodies are introducing stricter data protection laws. Companies must demonstrate that they handle customer data responsibly and have systems in place to prevent breaches. Compliance is not only a legal obligation but also a signal to customers and partners that the organization values privacy and security.

Cybersecurity also plays a role in innovation. As businesses adopt cloud computing, Internet of Things (IoT) devices, and AI systems, secure frameworks ensure these technologies can be used safely. Without strong security, digital transformation would carry unacceptable risks.

Looking to the future, cybersecurity will become even more complex. As more devices connect to networks, the number of potential entry points increases. Cybercriminals are using automation and AI themselves, making attacks more advanced. Businesses must stay ahead by investing in next-generation security tools, skilled professionals, and resilient systems.

Ultimately, cybersecurity is not about fear – it is about trust. Customers trust businesses to protect their information. Employees trust systems to be safe. Partners trust digital transactions to be secure. This invisible tech factor enables all other aspects of modern business to function smoothly.

In a world driven by digital systems, cybersecurity is the foundation that supports innovation, growth, and reputation. It may operate behind the scenes, but its role is central. Companies that treat cybersecurity as a strategic priority rather than a technical afterthought will be best positioned to thrive in the connected future.

The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) recorded 154 arrests, filed 115 cases and secured Rs. 2.839 million in fines, penalties, compensation and confiscated funds during 2025, according to its 2025 progress review.

CIABOC said 84 suspects were arrested during raids carried out in 2025, following 130 raids conducted during the year, of which 68 were classified as effective. A further 70 suspects were arrested on grounds other than raids, bringing total arrests for the year to 154.

Enforcement activity during the year was concentrated largely in the Sri Lanka Police, divisional and local government administration, transport and revenue-related institutions, and several State-owned enterprises. The police sector accounted for the highest number of arrests and accused persons, followed by Divisional Secretariats and Pradeshiya Sabhas.

The education sector featured to a limited extent. CIABOC reported the arrest of one school principal during raids in 2025, while prosecutions involved two school principals and one teacher. One conviction relating to a school principal was recorded during the year.

During 2025, CIABOC filed 115 cases before the courts, involving a total of 153 accused persons. Of these, 75 cases related to bribery, 21 to corruption, 14 to accumulation of unexplained wealth, and five to money laundering.

A total of 69 cases were concluded during the year, comprising 10 cases in Magistrate’s Courts, 58 in High Courts and one before a Trial-at-Bar. These resulted in the conviction of 42 persons across 36 cases.

In terms of financial outcomes, Magistrate’s Courts imposed fines of Rs. 30,000. High Courts imposed fines totalling Rs. 1.57 million and penalties of Rs. 1.056 million, ordered compensation of Rs. 33,000 and confiscated Rs. 150,000, bringing total monetary recoveries for 2025 to Rs. 2.839 million.

As at 31 December 2025, a total of 305 cases remained pending, with 16 cases before Magistrate’s Courts, 288 before High Courts and one before a Trial-at-Bar.

Sri Lankan corporates ranging from manufacturing exporters and IT firms to BPO providers, retailers, recruiters, and e-commerce brands are rethinking how work gets done as global competition intensifies and customer expectations continue to rise.

Across sectors, many organisations are adopting a model of workforce augmentation that combines digital workers, agentic AI, advanced engineering practices, and custom automation. This approach is increasingly seen as a way to improve productivity, consistency, and execution speed across teams while preserving existing organisational structures.

Digital workers as team enablers

A growing number of Sri Lankan companies are deploying role-based digital workers. These are designed to operate inside existing workflows and support teams by taking ownership of operational tasks. Platforms such as Vector Agents provide digital employees that work alongside human teams across functions including sales, finance, customer success, and HR.

These digital employees understand business context, follow defined workflows, and operate directly inside real systems. Unlike traditional automation tools or chatbots, they are built to execute multi-step, end-to-end workflows reliably and continuously. They research, communicate, process requests, and escalate complex situations to human colleagues with full context, forming a dependable workforce layer embedded into day-to-day operations.

This model reflects a longer-term vision that is gaining traction. Increasingly, organisations see a future where every department has AI digital workers operating alongside human professionals as a foundational part of how teams function, scale, and compete.

Industry-specific applications

In manufacturing and export-oriented sectors agentic AI is being used to support sales and business development teams. In the IT and BPO sector, agentic AI is helping firms address ongoing challenges in lead generation and sales pipeline scaling. Automated research, multilingual outreach, and intelligent follow-up allow teams to engage more prospects simultaneously, improve conversion efficiency, and win international contracts without increasing operational strain.

The hospitality sector is seeing similar benefits on the customer experience front. Sri Lankan hotels are using AI-driven customer support to provide 24/7 multilingual assistance that handles both international and local guest inquiries instantly. Faster, more personalised responses are contributing to improved satisfaction scores, positive online reviews and higher repeat bookings in an environment where responsiveness directly influences revenue.

Retailers and e-commerce brands are applying intelligent automation across customer service, order management and post-purchase communication. Accurate routing, intent-based resolution and deeper product knowledge enable teams to reduce friction, deliver more personalised interactions and build stronger customer loyalty in competitive digital marketplaces.

AI-native Engineering and Custom Automation

As organisations deepen their adoption of digital workers, many are also addressing the need for systems tailored to their specific processes and operating models. This has driven growing interest in AI-native engineering and practical automation approaches that complement everyday operations.

Veracity Digital works with Sri Lankan businesses to design and deliver custom web and mobile platforms using AI-native 10x engineering practices. This approach accelerates development timelines while maintaining clean architecture, strong security standards and seamless integration with existing systems, enabling businesses to deploy reliable digital platforms that scale with their operations on-cloud or on-premise.

A shift in how productivity is achieved

For small and medium-sized enterprises, there is increasing demand for quick automations that reduce manual effort without adding complexity. In response, Veracity Digital implements custom n8n-based workflows tailored to each business context, automating repetitive processes and improving operational efficiency. These solutions are typically deployed within weeks, allowing SMEs to automate manual sales, marketing, finance and human resources operations to focus on more customer engagement.

Together, agentic AI, 10x engineering and custom n8n automations are helping Sri Lankan businesses address lead shortages, reduce bottlenecks, development delays and manual process constraints. The objective is not to change team structures but to strengthen them by allowing people to focus on work that drives growth, differentiation and customer value.

As these capabilities become more accessible, competitive advantage increasingly depends on how effectively organisations embed them into everyday operations. Early adopters are already seeing more productive employees, higher sales and happier customers.

For Sri Lanka’s globally connected businesses, workforce augmentation through digital workers is emerging as a practical and sustainable path to long-term growth.

Ravana, or Ravan, as he is known across the Palk Strait, means different things to different audiences. In Sri Lanka, he is a figure with multiple, sometimes competing identities. Some traditions describe him as being of Dravidian origin; others place him among the ancestors of the Sinhalese, linked through the Raksha lineage. These interpretations coexist uneasily, reflecting the island’s layered history and contested past.

In India, the picture is far less ambiguous. Ravana is firmly positioned as the villain of the Ramayana, his defeat marked annually in public festivals celebrating the victory of good over evil. His central offence, abducting a woman of immense symbolic importance to the subcontinent, defines him to this day. Transposed into the modern world, it is not difficult to imagine Ravana as the subject of an Interpol Red Notice. But according to them he’s dead, so this is a matter done and dusted.

A complex story

Yet, Sri Lanka tells a different story. In and around the old citadel kingdom of Kandy, and in villages at the foothills of the Knuckles mountain range, Ravana remains a living presence in popular memory. Local narratives speak not of a demon vanquished, but of a powerful ruler wronged; one who never truly disappeared and may yet return to reclaim his place in history.

Academic scholarship, however, remains largely skeptical by far and large. Anthropologists, historians, and archaeologists tend to treat Ravana as a mythological construct, sustained by folklore, political agendas, and selective readings of the past rather than material evidence. Stories that lack social relevance rarely endure. Ravana’s continued presence, in tourism narratives, political discourse, and popular belief, suggests that the story serves a function well beyond the pages of an ancient epic. The question, increasingly, is not whether Ravana was real, but why he continues to matter.

The Colombo Institute for Human Sciences (CIHS) recently convened a small, closed-door conference titled ‘Move Your Shadow: Rediscovering Ravana, Forms of Resistance and Alternative Universes in the Tellings of the Ramayana.’ The gathering brought together scholars, artists, and researchers to examine Ravana not as a fixed mythological figure, but as a shifting cultural and political symbol across Sri Lanka and South Asia.

Ravana scholarship

Jagath Weerasinghe, Sri Lankan artist and archaeologist affiliated with the Theertha International Artists Collective and formerly of the Postgraduate Institute of Archaeology, examined the subject through a post-war lens. He opened the discussion with a paper titled, ‘The Politics of the Ravana Myth in Post-war Sri Lanka,’ explored how Ravana has been mobilised in contemporary cultural and political discourse, often reflecting anxieties around identity, sovereignty, and historical grievance.

Justin Henry, a PhD candidate and Assistant Professor of Religious Studies at the University of South Florida, presented a paper titled ‘The Sri Lankan Ramayana Tradition: The Interface of Sinhala and Tamil Literature and Folklore.’ His presentation traced how Ravana appears across overlapping Sinhala and Tamil narrative traditions, highlighting the fluid movement of stories between languages, regions, and communities.

The institutional and sociological dimensions of the Ravana narrative were taken up by Sasanka Perera, Chairman of CIHS and former Professor of Sociology, in his presentation titled ‘The Invisibility of Rama, the Visibility of Ravana and the Heroic Construction of Ravana in Sri Lanka.’ Perera argued that Sri Lanka’s cultural landscape has increasingly foregrounded Ravana while marginalising Rama, producing a distinctive local reconfiguration of the epic tradition.

Political readings of the figure were further developed by Dileepa Witharana of the Open University of Sri Lanka, Senior Lecturer in the Department of Mathematics and Philosophy of Engineering at the Faculty of Engineering Technology. His paper, ‘Ravana in Sinhala Political Space,’ examined how Ravana functions as a symbolic resource within Sinhala political thought and rhetoric.

The commercialisation of Ravana formed the focus of Pooja Kalita, a researcher at CIHS with a PhD in Sociology from South Asian University. In ‘The Salable Ravan: Heritage Tourism and Marketised Aesthetics of the Evil ‘Other’, Kalita analysed how Ravana has been repackaged for heritage tourism and visual culture, transforming a complex figure into a consumable brand.

The conference concluded with a performance-centred perspective from S. Jeyasankar, Senior Lecturer at Eastern University, Sri Lanka, whose presentation ‘Reformulation of Ravanan from the Clutches of Sanskritised Colonisation: The Journey of a Performer’ traced how artists and performers have reimagined Ravanan outside dominant Sanskritic frameworks, reclaiming alternative traditions through embodied practice.

There was also an interpretation of Ravana in the film screening of ‘In Search of Ravana.’ A Devised Dance Film, Performed by Sudesh Mantillake, University of Peradeniya. Co-directed by Sudesh Mantillake and Gayan Chathuranga Rajapaksha.

Taken together, the conference underscored how Ravana continues to operate not merely as a character from an ancient epic, but as a contested symbol, shaped by politics, performance, scholarship, and markets, within Sri Lanka’s contemporary cultural landscape.

Closed doors

Sasanka Perera, the convener of the mini conference says, the objective of this small, closed-door academic gathering was not to affirm belief in Ravana as a historical figure, nor to rehearse conventional readings of the Ramayana. Rather, its long-term aim is to contribute towards a publication that examines non-mainstream but widespread alternative understandings of Ravana, and more importantly, to ask why the Ravana narrative has survived so powerfully, and how it continues to function in the present.

Ravana is not simply a mythological character frozen in an ancient epic, Perera says. He plays an active role in contemporary politics, identity formation, and cultural power, particularly in Sri Lanka and India. In India, dominant North Indian interpretations foreground Rama as the civilisational ideal. In the process, Ravana becomes the embodiment of evil, and alternative traditions, Adivasi (‘original inhabitants’ or indigenous people), regional, and minority narratives, are marginalised or erased.

Perera insists, ‘Sri Lanka presents a more complex picture. Here, Ravana is neither uniformly demonised nor universally celebrated. There are Sinhala traditions that claim Ravana as a Lankan king, alongside Tamil traditions that interpret him differently, and still others that situate him outside rigid ethnic identities altogether. These plural narratives resist a single authoritative version, and it is precisely this plurality that the conference sought to foreground.’

Hegemony

Sasanka Perera says ‘the concern raised is that the more powerful and audible North Indian interpretations are increasingly eclipsing Sri Lankan Ravana traditions, even within Sri Lanka itself. Tourism narratives, state-sponsored heritage trails, and cultural promotions, such as airline branding and official media, often reproduce the North Indian Ram-centric version, quietly erasing local Ravana stories.’ He says, the indigenous narratives exist in local areas unless they are tempted by tourism related business to subscribe to the North Indian version.

Crucially, the discussion was not about proving Ravana ‘existed’. The academic interest lies elsewhere: Why has this figure endured for millennia?

What roles has Ravana played at different historical moments? How does he function today-in politics, ethnic identity, tourism, business, and foreign policy?

Folklore

Oral tradition is central to this inquiry. As anthropology and sociology remind us, not all history is written. Many social memories, migration, conflict, power shifts, are preserved through stories rather than texts. Ravana, like other legendary figures, may encode fragments of historical experience, but these cannot be read literally. They require interpretation, cross-referencing, and caution. The question remains, however, whether anthropologists, historians and archaeologists would consider examining such a space which does not fully qualify to be scientific. And perhaps create a new genre of research, one that is subjective and has its place in the current world we live in! Sasanka Perera says this has already happened in anthropology (in some cases) where myth is taken seriously, possibly as the coded messages of the past.

The point, ultimately, is this: myth has to be factored into research in this case. Ravana is not merely a character from an ancient story. He is a living symbol that continues to shape cultural hierarchies, political alignments, and regional tensions. To ignore this is to misunderstand how narratives operate in our modern world.

This gathering sought to open that space of inquiry-not to replace one orthodoxy with another, but to insist on plurality, complexity, and critical engagement in how Ravana is understood today. Let us hope that they will approach the subject with an open mind.

The Sri Lanka Tourism Promotion Bureau (SLTPB), together with a delegation of 15 leading local travel and tourism companies, represented Sri Lanka at the internationally renowned fair Vakantiebeurs 2026, which was held from 7 to 11 January in Utrecht, the Netherlands.

Vakantiebeurs is recognised as one of Europe’s most prominent travel exhibitions, attracting a diverse audience of travel trade professionals, tour operators, destination marketers, media, and discerning travellers from across the European region. Sri Lanka’s participation at this high-profile event underscored the country’s strategic focus on strengthening its footprint in key long-haul source markets, particularly in the European region.

This prominent trade and travel fair also plays a key role as one of Sri Lanka Tourism’s most important events in the tourism calendar.

The Sri Lanka pavilion showcased the island’s diverse and authentic tourism experiences, including cultural and heritage tourism, wildlife and nature-based travel, beach and marine tourism, wellness and Ayurveda, adventure tourism, culinary experiences, and emerging sustainable and community-based tourism products. Through immersive destination branding and targeted promotional activities, Sri Lanka aims to position itself as a safe, sustainable, and year-round destination offering exceptional value and memorable experiences.

During the five-day exhibition, the Sri Lanka delegation participated in business-to-business (B2B) meetings, networking sessions, and destination presentations with international tour operators, travel agents, and industry stakeholders. These engagements are expected to strengthen existing partnerships, explore new collaborations, and generate increased interest in Sri Lanka as a preferred destination for European travellers.

The participation of 15 local travel trade partners highlights the strong public-private sector collaboration driving Sri Lanka’s tourism promotion efforts. It also reflects the industry’s collective commitment to rebuilding, diversifying, and sustaining tourism growth through strategic international exposure.

Europe continues to be a priority source market for Sri Lanka Tourism, with the Netherlands playing an important role due to its high-spending, experience-oriented traveller profile. Sri Lanka’s participation in Vakantiebeurs 2026 aligns with the SLTPB’s broader destination marketing strategy to increase tourist arrivals, enhance brand visibility, and support sustainable tourism development in the years ahead.

The queue at my local takeaway food stall stretches onto the pavement. It’s a Tuesday night, and everyone’s clutching their phones, waiting to pay for burgers, kottu, fried rice, or that essential packet of dinner. The elderly shopkeeper squints at each QR code through his reading glasses, occasionally asking someone to hold their screen steadier. Two years ago, he only accepted cash. Now, even he’s gone digital.

This scene plays out across Colombo, Kandy, Galle, and even the smallest towns in our island. We’re heading toward a cashless economy, whether we’re ready or not. But are we truly prepared for what this means?

The transformation has been remarkable. Remember when getting change was a daily battle? When did conductors on buses carry bags bulging with notes and coins? Those days are fading fast. Digital payments have exploded since the pandemic, and there’s no going back. From three-wheeler rides to temple donations, almost everything can now be paid for with a tap or scan.

The convenience is undeniable. Nowadays, we don’t have to worry about exact change for our groceries or carry a bulky wallet when taking our family out for shopping.

Many people are running small online businesses entirely through mobile payments. They never touch cash from a customer, yet their businesses thrive.

But here’s something that bothers me all the time: most of our parents still prefer cash. They are educated, tech-savvy enough to video call their grandchildren in Australia, yet trust the weight of notes in their purse. ‘What if the system crashes?’ is what mostly bothers them. They may ask you, ‘What if someone hacks my account?’ These aren’t irrational fears from someone stuck in the past. They are the most common concerns that keep many Sri Lankans away from cashless transactions.

Also, there’s a big difference in the way people think between major cities and rural areas. While a person from Colombo prefers contactless payments and digital wallets, a person from a faraway village will still prefer cash.

Think about the daily vendors at our vegetable market or weekly pola. It is not an easy task for him to go ahead with digital payments because not all his customers may carry a smartphone, and he may also not be familiar with using one for his transactions

Security concerns aren’t paranoia either. We’ve all heard stories of phishing scams, unauthorized transactions, and accounts mysteriously drained. You may be familiar with stories like people receiving calls from someone claiming to be from their bank, nearly convincing them to share their OTP. Some may catch on just in time, but many aren’t so fortunate. As we move toward a cashless economy, we become increasingly vulnerable to sophisticated fraud.

Then there’s the question of privacy. Every digital transaction leaves a trail. While this can help track illegal activities and improve tax collection, it also means someone, somewhere, knows exactly what you’re buying, when, and where. In a cash transaction, your business stays your business. In a digital one, it’s recorded, analyzed, and potentially used in ways you never consented to.

But we cannot ignore the benefits. Digital payments reduce the risk of theft and make corruption harder to commit. They have helped informal economies to transform into the formal sector, potentially increasing government revenue for essential services. When businesses go cashless, they can cut down on time counting notes and on making fewer trips to the bank.

In situations like an economic crisis, ATMs can go dry, and cash can become scarce, but digital payments can keep commerce moving. People who do not want to go cashless suddenly will have no choice, and ultimately, they may realize it is not as frightening as they’d imagined.

So where does this leave us? Whether we feel ready or not, the truth is, we’re moving toward a cashless economy. We need to educate our elders and rural communities on these rising technologies, and infrastructure facilities should be improved in order to get better internet coverage islandwide. Online banking apps that can be easily downloaded to any smart device can actually give easy access to banking, especially for those who have to travel miles to a bank.

Also, cybersecurity awareness should be taught in schools, and consumer protection laws need strengthening to address digital fraud.

We can always choose between cash and digital and create a system where both can coexist. So that any vendor can scan QR codes as well as accept a hundred-rupee note without any issues. Where progress doesn’t mean exclusion.

Are we ready for a cashless economy? Some of us are. But still, many aren’t. The real challenge is making sure we all get there together, bringing everyone along on this digital journey. Because an economy cannot cater to a selected group and ignore the rest.

The Sri Lanka women’s cricket team will tour the West Indies during February-March to play a three-match WODI series and a three-match WT20I series.

The tour will begin on 20 February with the ODI series, followed by the T20I series.

All the matches will take place at the Grenada National Stadium.

The Schedule

20 Feb: 1st ODI

22 Feb: 2nd ODI

25 Feb: 3rd ODI

28 Feb: 1st T20I

1 Mar: 2nd T20I

3 Mar: 3rd T20I

Nihon Kohden Singapore, a leading global medical device manufacturer from Japan, together with its local partner Hemas Surgicals and Diagnostics Ltd., has introduced the Cereb Air, a next-generation EEG monitoring solution, at the Annual Scientific Conference of the Sri Lanka College of Emergency Physicians (SLCEP).

The event, brought together leading emergency medicine professionals, researchers, and healthcare stakeholders from across the country.

As platinum sponsor of the conference, Nihon Kohden highlighted its commitment to advancing neurological care by showcasing the Cereb Air.

Nihon Kohden Global Product Manager for Neurology Alejandro Ravago delivered a keynote presentation under the theme ‘New Generation EEG Monitoring.’ He emphasised the device’s portability, wireless functionality, and advanced data analytics, capabilities not found in conventional EEG systems. The presentation was met with strong interest and appreciation from participants, reflecting the growing demand for advanced neurological diagnostic tools in emergency care settings.

Hemas Pharmaceuticals Managing Director Dr Mahesha Ranasoma said: ‘As a chapter in our mission to ‘Making Premium Healthcare Affordable’ for everyone, we’re invested in supporting strategies and developments that will effectively safeguard and protect lives. Our collaboration with Nihon Kohden Singapore, and their outstanding work on the Cereb Air, resonates with many of our shared goals and values in not only saving lives, but also advancing healthful living for all.’

During the event, Sri Lanka College of Emergency Physicians President Consultant Dr. Inuka Wijegunawardena, engaged in a discussion with the Nihon Kohden team on initiating a field study with the Cereb Air. This study would explore its potential to enable rapid and accurate diagnosis of seizures among head injury patients, an area where timely clinical intervention could save lives. The collaboration also aims to assess the economic benefits for hospitals by reducing the need for unnecessary radiological imaging and avoiding preventable admissions.

A spokesperson for Hemas Surgicals and Diagnostics said: ‘We are proud to partner with Nihon Kohden to introduce Cereb Air to Sri Lanka. This technology represents a milestone in emergency neurology care, offering physicians a faster and more accurate diagnostic tool while helping hospitals manage costs effectively. At Hemas, we remain dedicated to bringing the world’s best healthcare innovations to Sri Lanka and supporting the medical community in improving patient outcomes.’

For over 70 years, Nihon Kohden has been at the forefront of developing medical devices that support life-saving care across neurology, cardiology, and patient monitoring. Its products are trusted in hospitals worldwide for reliability, precision, and innovation. The launch of the Cereb Air in Sri Lanka marks another step in the company’s mission to provide advanced, accessible healthcare solutions tailored to the needs of emerging markets.

There is a growing divide in the world of taxation, but it isn’t just about who pays the most. It is about who knows the future. For many years, taxation has followed a simple and familiar rhythm. People and businesses earn income, keep records, calculate profits, and then pay taxes based on what has already happened. Governments design tax laws around past income and completed transactions. Audits, penalties, and revenue forecasts are all built on this backward-looking system. It has given taxpayers clarity and the state a sense of control.

Today, that rhythm is slowly changing. The change is not loud or dramatic, but it is powerful. Artificial intelligence is quietly reshaping how large businesses think about tax. Instead of waiting for rules to be enforced or audits to begin, many companies are now trying to see the future before it arrives.

Across the world, large corporations are using advanced AI tools to predict how tax authorities might behave tomorrow. These systems study past audits, court cases, policy speeches, budget signals, political trends, and even public opinion. They estimate how likely it is that a certain transaction will be questioned, how strict enforcement might become, or how laws may be interpreted in the near future. Based on these predictions, companies adjust their decisions today. This has given rise to a new figure in modern taxation: the predictive taxpayer.

A predictive taxpayer does not simply react to tax rules. Instead, it tries to stay one step ahead. Using powerful algorithms, companies forecast possible tax outcomes before income is earned or laws are changed. Decisions about investments, pricing, profit sharing, and business structure are increasingly guided by what AI systems believe might happen next, not just by what the law says now. Tax planning has become less about reading legislation and more about predicting behaviour.

This marks a deep change in how tax compliance works. Traditionally, compliance meant following written rules and responding when the tax authority acted. Now, compliance is shaped by expectations. A company may choose to pay more tax today or disclose information early because its system predicts tougher enforcement in the future. At the same time, if enforcement is expected to be weak, delayed, or under-resourced, more aggressive tax positions may be quietly accepted as manageable risks. In this world, tax behaviour is guided by probability, not principle.

From the Government’s point of view, this shift brings both opportunity and danger. On the positive side, predictive behaviour can sometimes improve short-term revenue collection. If companies expect stricter audits, they may avoid disputes, settle early, and take safer positions. This can reduce court cases, speed up collections, and ease the administrative burden on tax officers. In the short run, revenue flows may even appear more stable.

However, the long-term risks to revenue generation are far more serious. Predictive taxpayers can move faster than governments. When policy discussions hint at future reforms such as new digital taxes, environmental levies, or changes to profit-shifting rules, AI systems may immediately recommend restructuring. Assets can be relocated, supply chains redesigned, and profits shifted before laws are passed. By the time reforms take effect, the tax base may already have changed. Revenue is not lost through illegal evasion, but through legal anticipation.

This kind of revenue loss is difficult to detect. There is no obvious wrongdoing. There are no dramatic scandals. Yet the result is the same: governments collect less than expected. This is especially dangerous for countries that rely heavily on domestic revenue to fund education, healthcare, infrastructure, and social protection.

Another major concern is fairness. Predictive tax tools are expensive and complex. They are used mainly by large multinational companies with access to data scientists, global advisors, and advanced technology. Small and medium-sized businesses, and ordinary individual taxpayers, do not have this advantage. They follow the rules as they are written and react when enforcement occurs. Over time, this creates a two-speed tax system, one for those who can predict the future, and another for those who cannot.

When people believe that the tax system favours the powerful, trust begins to erode. Tax compliance is not built only on fear of penalties. It also depends on a shared belief that the system is fair. If that belief weakens, voluntary compliance declines. This is a serious risk for long-term revenue mobilisation, especially in developing economies.

Revenue forecasting also becomes more complex in a predictive world. Governments traditionally rely on historical data to estimate future collections. But when taxpayers constantly change behaviour based on future expectations, past trends become unreliable. Revenue becomes sensitive to perceptions, rumours, and signals, not just economic performance. Tax administration slowly shifts from rule enforcement to risk management. This requires new skills, new tools, and a new mindset within revenue authorities.

Sri Lanka is not outside this global shift. While the country’s tax administration is still largely reactive, many multinational companies operating locally already use predictive systems designed overseas. These systems do not respect borders. If tax authorities do not develop similar analytical capacity, a widening gap will emerge between how taxpayers plan and how the state responds. That gap represents a real risk to future revenue, especially at a time when Sri Lanka needs strong and stable domestic revenue to support recovery and development.

The key question, then, is whether predictive taxpayers pose a revenue risk for governments. The answer is yes but only if governments remain passive. Predictive behaviour itself is not the enemy. The real danger lies in uneven capability. When only taxpayers can see ahead, the system tilts in their favour.

The solution is not to resist technology or attempt to ban prediction. That would be unrealistic and counterproductive. Instead, governments must learn to govern prediction. Tax authorities need their own predictive tools to identify risks early, understand behavioural patterns, and anticipate avoidance strategies before they spread. This is not about copying corporate systems, but about building institutional intelligence.

Clear and timely laws also matter more than ever. When rules are vague or delayed, predictive systems thrive on uncertainty. Faster reforms, clearer drafting, and consistent enforcement reduce the space for speculative planning. Transparency about enforcement priorities can also help. When taxpayers understand what will be enforced and why, prediction can support compliance rather than avoidance.

International cooperation is equally important. Predictive tax planning easily crosses borders. Without data sharing, coordinated standards, and ethical guidelines for AI use, countries with weaker institutions risk falling behind. In the future, revenue loss may occur not because taxpayers break the law, but because governments fail to anticipate behaviour.

The predictive taxpayer is not automatically a threat. Used responsibly, predictive tools can reduce disputes, improve compliance, and help governments plan better. But without strong institutions, clear rules, and adaptive governance, prediction can quietly weaken the meaning of tax obligation and undermine long-term revenue stability.

In the age of artificial intelligence, taxation will no longer wait for events to happen. The challenge for Sri Lanka and for the world is to ensure that foresight strengthens the tax system rather than reshaping it in favour of those who can see the future first.

The Embassy of Sri Lanka in Vienna, together with the Sri Lanka Tourism Promotion Bureau, participated at the 47th edition of Ferien-Messe Wien, Austria’s leading international travel and tourism fair from 15-18 January 2026 in Vienna.

As the Official Partner Country of the 2026 edition, Sri Lanka received prominent visibility throughout the event.

The Sri Lanka pavilion was ceremonially opened by the State Secretary (Deputy Minister) of Energy, Startups and Tourism of Austria Elisabeth Zehetner, Sri Lanka Tourism Promotion Bureau Managing Director Sampath Niroshana and the Ambassador of Sri Lanka in Vienna M.R.K. Lenagala, with the cutting of a ribbon, followed by the lighting of the traditional oil lamp to the sounds of traditional Sri Lankan drums, marking a traditional beginning to the country’s showcase.

The 2026 edition of Ferien Messe Wien brought together exhibitors from around the world and attracted thousands of visitors seeking travel inspiration, cultural experiences, and global tourism offerings. Sri Lanka’s pavilion attracted a steady flow of visitors throughout the four-day event. Performances by a Sri Lankan traditional dancing troupe added vibrancy to the pavilion, drawing the attention of visitors and media. Live cooking demonstrations were conducted throughout the fair by the Sri Lankan-Austrian chef Ruwan Fernando, offering visitors an authentic Sri Lankan culinary experience. Promotional videos highlighting Sri Lanka as a destination for international filming were also screened continuously during the event. Visitors to the Sri Lanka pavilion were served Ceylon tea and a selection of Sri Lankan foods. With the participation of 22 leading travel and tour operators and hoteliers from Sri Lanka, the pavilion showcased the country’s diverse tourism offerings, strengthening Sri Lanka’s visibility in the Austrian and Central European travel market. Prior to the fair, the Embassy and the Sri Lanka Tourism Promotion Bureau participated in tourism roadshows, held in Graz and Vienna, which brought together travel agents and visitors in the lead-up to Ferien-Messe Wien.

Austria remains a key focus market for Sri Lanka Tourism Promotion Board with sustained promotional activities carried out in recent years. Tourist arrivals from Austria to Sri Lanka have shown steady growth, approaching pre-pandemic levels.