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To the future through Digital Disruption
Today, we live in a very fast paced world which rapidly changes with the internet and technology. The significance of technology is as such, that if a nation, society or a company fails to adopt these evolving technologies for sure they’ll be left behind. In a way this scenario can be described from a biological viewpoint. In 1859 Charles Darwin published ‘Origin of species’ where he rejected the creationism and argued humans, animals, insects & all the living and nonliving things in the world were created through a process called evolution which took millions of years in the making. Darwin explained that “Natural selection acts by competition”, organisms or species who adapt to their environment and ecological factors to perform better than others and secure their survival through reproduction and increasing their numbers.
We can broadly apply this theory to many areas,
Today powerful technological advancements such as Machine Learning, Cloud Computing and Artificial Intelligence (AI) have spread from complex research based industries to perform simple day to day activities. Even in Sri Lanka, already there are companies which use such technologies to forecast future market activities, logistics supply and to conduct precise marketing campaigns. The impact of digital transformation is at that level where the biggest players in the market or industry do not hold the advantage, barriers to entry are so low or even cannot be seen in some areas. Small businesses with big ideas can turn the markets in quick time thanks to these advancements. It intensifies the competition and transfer the ultimate benefit to customers. If we refer to the Sri Lankan story, at the end of year 2022 there are 743 small tech savvy companies (some are industry leaders today) ‘Startups’ who directly involve to core operations of widespread multinational companies. Most of them are situated outside Colombo, which is proof that we are moving in the right direction.
Cutting edge technologies as AI & ML are widely used to analys trillions of consumer data to derive tailor made algorithms. Images captured by remote sensors are helping to train autonomous cars, patterns identified in financial markets are used to price insurance and place trades, access to patient data assesses healthcare providers to disease identification and to create solutions. Also, in the race against imminent Climate Crisis these high-tech applications are used to suggest how to cut down on greenhouse gas emissions and to recycle pollutants.
In the age of Digital evolution, success will lie with the nations or firms who adopt and apply new technological advancements to its operations not just with the intellectual capacity of people or employees. The best example for these applications are the reemergence of online market places and work from home initiative. Most of the traditional brick & mortar organisations had to get into the digital space to assure their survival. They had to offer goods and services via online platforms and to rely on AI based social media, search engine based promotional campaigns instead of costly ATL sources.
When you look at an economy from a macro point of view, it is like a large rive that flows, at some places branches connect to the river body carrying water in and out. When it comes across a barrier it either destroys them or changes its speed or changes its shape, but it’ll flow through.
Because of the Covid pandemic global economic growth rate came to a halt. Since we live in a highly globalised world the economic growth rates of US, China, Europa and Asia contracted at an alarming rate. The impact of the slowdown was felt across nations in every social stratum. Income levels dropped, businesses crashed resulting in mass layoffs, supply chains were blocked. At the height of the pandemic 50% of the global work force of 3.3 billion came near to the threat of getting unemployed. But things took a turn for the good by implementing touchless online sales platforms and by enabling employees do their job by working from home. These trends were evident in all the sectors of economy, education, healthcare, transportation, telecommunication and most prominently in the fintech industry. By reducing operational costs and gaining the trust of all the segments of society these technological improvements became close to ordinary people.
When we talk about the market adaptation to technology report by the CANTAR LMRB ‘Covid-19 Barometer Sri Lanka Report’ shows that when we compare the convergence of the e-commerce industry in SL there is a 245% growth. It lists what are the online activities our people engaged mostly, use of online facilities to do online payments, digital banking services, getting medical advice via video conferencing and to play online games. It further illustrates that money spent on average has increased from USD 11 to USD 38 compared to the pre Covid period. Therefore, as an individual with a progressive view to the future I believe we as a nation should invest heavily in new technologies when we sail the rough seas of economic crisis.
In our path to achive ultimate customer satisfaction we always believe in Digital Disruption, that is why we came up with our own Smart digital banking application the ‘NSB Pay’. Its available in Android and Apple store. It will empower you to experience the digital financial atmosphere at absolutely no charge, as at today we the NSB is the only bank to provide such high tech smart app for free to Sri Lankans. By using the app you can enjoy the ease of banking, settle the loan, transfer and get money to and from other banks in real time, settle your credit card, reload the phone, pay household bills, check your fixed deposit balances, sellte payments to selected governemnt entities etc.
As a responsible state bank we invest money to fine tune the efficiency and accuracy of our services to become more customer friendly hence, we think Machine Learning, Cloud Compting and use of AI is the future in achiving this ultimatum.
In a recent study by the ‘Economic Impact’ magazine it revealed that in US the post Covid e-commerce usage has increased from 17% to 33%. 70% Industry leaders have said that they experice the digital disruption and 85% of them forecasts that in the next five years the progress in this sector will exceed the expectations. Even if we do a similar survey in SL for sure we will get similar results.
By the end of 2022 60% of the world are connected to the world (in 2000 it was 5.8%) by usisng this connectivity our small island can go a long way. I know that the things are difficult and hard but these times shall pass too, nothing is for forever. Tough times comes to test our endurance, strength and capacity. When we look around I know it is easier said than done yet we as a nation cannot give up there’s lot more to achieve.
Banking sector is the backbone of our financial system, fruits of its success belongs to all of us and as the premiere specialized savings bank with RS. 1.6 trillion of asset base and Rs. 1.4 deposit base we the NSB strive towards future with optimisum and hope knowing that as a nation will come atop these difficult times for good.
Latest News
Construction of Accident and Emergency unit at Mannar District General Hospital begins under President’s patronage
Construction work on the Accident and Emergency Unit at the Mannar District General Hospital commenced this morning (16) under the patronage of President Anura Kumara Dissanayake.
The Accident and Emergency Unit, which is being constructed at a cost of Rs. 600 million with a grant from the Government of India, will be equipped with all modern facilities and will further expand healthcare services for the people of Mannar. Construction is scheduled to be completed in the first quarter of 2028.
Upon completion of the project, the people of Mannar will be able to receive emergency trauma care and other specialised healthcare services without having to travel to Colombo or other major cities. At the same time, the Government has taken steps to provide the Mannar District General Hospital with the medical equipment and staff required to support these services.
President Anura Kumara Dissanayake, who attended the commencement of construction work on the Accident and Emergency Unit, also engaged in a cordial conversation with members of the hospital staff.
Addressing the ceremony held thereafter, Minister of Health and Mass Media Dr. Nalinda Jayatissa said that as the Mannar area, which is expected to make an important contribution to the national economy, develops, this project will help ensure quality healthcare services for its people. The Minister further emphasised that, in creating a “A Thriving Nation – A Beautiful Life”, the Government is committed to ensuring healthy and disease-free lives for all 21.7 million citizens of the country.
Further remarks by Minister of Health and Mass Media Dr. Nalinda Jayatissa
“The Mannar District is an area that is expected to make an important contribution to our national economy. A large number of local and foreign tourists will visit this area both now and in the future.
With the development of transport facilities, Mannar will experience further economic growth. In such a context, upgrading the services of the Mannar hospital will be important in ensuring quality healthcare services for the people of this area as well as those who visit the region.
Accordingly, construction of this Accident and Emergency Unit will be completed and the facility will be made available to the public in the first quarter of 2028. In addition, staff quarters for doctors at the Mannar District General Hospital are being constructed in a four-storey building at a cost of Rs. 243 million. These construction activities are also expected to be completed within one and a half years. Construction of the new Paediatric Unit, being built at a cost of Rs. 230 million, is also expected to commence within this year.
Similarly, the CT scanner that you have been continuously requesting will be provided to you by around February next year. It is worth approximately Rs. 250 million. While these building facilities are being developed, we will also provide the staff required by the hospital. You have also received intern medical officers for the first time in the history of this hospital. Several more intern medical officers will be assigned to you this October. At the same time, steps are currently being taken to address the shortage of specialist medical officers.
On 31 October, we will recruit 2,600 new nurses, and a portion of them will be assigned to this hospital. Personnel required for the allied health professions are also currently undergoing training. Once their training is completed, the services of several of them will be made available to this hospital. In addition, we will recruit 1,100 Public Health Midwives, a portion of whom will also be assigned to this area.
This Government is taking numerous measures to provide people with healthy lives. Through these initiatives, we hope to improve the health and quality of life of the people in this area.
More than Rs. 600 billion has been allocated to the Ministry of Health over the past two years, and the President continuously monitors all its projects. Going beyond that, I am deeply grateful to the President for joining us today.
We have received the support of the Government of India for this project. I extend my special appreciation to the Government of India, including the Prime Minister, and its people, as well as to the High Commissioner of India and his staff, who have been committed to coordinating these activities and ensuring the success of this project.
Among district hospitals, the Mannar hospital is one with very limited facilities. Despite these shortcomings, I appreciate the dedication of all members of the staff, including the doctors, who remain committed to providing the best possible service to the people. I also consider the President’s visit to be a recognition of your service.
Two years ago, on 21 September 2024, the people of this country gave a clear mandate to create a “A Thriving Nation – A Beautiful Life”. That mandate was further strengthened in November 2024. Under the mandate to create a “A Thriving Nation – A Beautiful Life”, we have been entrusted with the responsibility of ensuring healthy and disease-free lives for all citizens of this country.
Your area of residence, profession, wealth or ethnicity is of no relevance to us in this regard. The Government’s objective is to create a beautiful life through healthy and disease-free living for all 21.7 million citizens of Sri Lanka.”
High Commissioner of India Santosh Jha:
“The agreements for the emergency unit in Mannar and the medical ward complex in Mullaitivu were signed under President Dissanayake’s leadership. I am happy to see these commitments transitioning smoothly into swift implementation.
His Excellency the Prime Minister of India, Shri Narendra Modi, has said that the development assistance extended by India to Sri Lanka comes with a deep sense of responsibility, a duty that one naturally feels for one’s family member.
We remain firmly committed to working closely with the Government of Sri Lanka and the people of Sri Lanka for the well-being and prosperity of all communities across the island. As neighboring countries and close partners, we will continue to walk together this shared path toward lasting progress and development of our peoples.”
Secretary to the Ministry of Health and Mass Media Dr. Anil Jasinghe
“For several decades, injuries and accidents have been the leading cause of hospital admissions in Sri Lanka. As Mannar is geographically somewhat isolated, it is extremely important for the district to have access to quality, free healthcare services without delay.
The assignment of intern medical officers to this hospital commenced this year. Arrangements are also currently underway to purchase a CT scanner for the Mannar District General Hospital. The hospital is expected to receive improved radiology facilities by the end of this year or the beginning of next year.
I must say that, during my 36 years in public service, last year was the only period during which I did not face any financial difficulties in carrying out my duties. The prudent macroeconomic management of the current Government, including President Anura Kumara Dissanayake, has created the fiscal space required to develop the country’s health services.”
Mannar District Bishop Rt. Rev. Gnanapragasam Anthonipillai, Northern Province Governor Nagalingam Vethanayahan, Members of Parliament representing the Mannar District, Secretary to the Ministry of Defence, Air Vice Marshal Sampath Thuyacontha (Retd), Chiefs of the Defence Services, officials of the Ministry of Health, officials of the High Commission of India in Sri Lanka, Consul General of India in Jaffna Sai Murali S. and officials of the Indian Consulate in Jaffna, among others, attended the occasion.
[President’s Media Division]
News
Special Cabinet Subcommittee and Officials’ Committee appointed to address El Niño Climate Impact meet
The Special Cabinet Subcommittee and Officials’ Committee appointed to take necessary measures to address the impact of the El Niño climate phenomenon met for the fifth time at the Presidential Secretariat on Monday (14) afternoon , under the chairmanship of Minister of Environment Dr Dhammika Patabendi.
As the El Niño climate impact is expected to transition from the current dry conditions to wetter weather over the next two months, the committees held an extensive discussion on measures to address the anticipated change in weather conditions.
The committees decided to raise public awareness on potential disasters, including floods and landslides that could occur due to increased rainfall. Attention was also given to conducting disaster preparedness drills to familiarise the public with the appropriate measures to be taken in the event of such emergencies.
It was instructed that initial preparedness drills be conducted in the districts of Kandy, Badulla, Matale and Nuwara Eliya, which are considered vulnerable to landslides and that the necessary measures be taken without delay.
The meeting also decided to implement a public awareness programme through electronic and print media. Discussions were also held on the importance of preparing the public in advance by establishing operational centres at Divisional Secretariat level.
In addition, the committees reviewed the progress of relief measures already being implemented for people affected by the prevailing El Niño conditions, as well as the progress of the planned measures ahead.
Minister of Housing, Construction and Water Supply Dr Susil Ranasinghe, Minister of Plantation and Community Infrastructure Samantha Vidyaratne, Secretary/Convener of the Special Cabinet Subcommittee, Chairman of the Officials’ Committee and Chief of Staff to the President Prabath Chandrakeerthi, Secretary to the Ministry of Agriculture, Livestock, Land and Irrigation D. P. Wickramasinghe, Director General of the Department of Meteorology A. L. K. Wijemanne, Director General of the Disaster Management Centre, Major General Sampath Kotuwegoda (retired), Director General of the National Building Research Organisation Dr Gamini Jayatissa, General Manager of the National Water Supply and Drainage Board Engineer T. Bharatheedasan and officials from the relevant institutions were also present at the meeting.
[President’s Media Division]
News
Where is Gnanasara Thera?Police pass buck to court
by Norman Palihawadane
Bodu Bala Sena (BBS) General Secretary Ven. Galagoda Aththe Gnanasara Thera’s whereabouts have remained unknown since the Supreme Court, on Monday, annulled a presidential pardon granted to him in 2019.
Prison officers visited the Thera’s temple in Nawala, Rajagiriya, to take steps to return him to prison to serve the unexpired portion of his six-year sentence. However, monks at the temple had reportedly informed the officials that they were unaware of his whereabouts.
Police spokesman ASP F.U. Wootler said a separate court order was required for the police to trace the Thera, or assist in taking him into prison custody. No such order had been issued so far, he claimed.
Meanwhile, sources close to Gnanasara Thera said he was expected to attend a book launch in Colombo tomorrow (17),
The development follows the Supreme Court declaring the 2019 presidential pardon granted to Gnanasara Thera, by then President Maithripala Sirisena, null and void.
A three-member Supreme Court bench held that the pardon had been granted arbitrarily and violated public trust and principles of natural justice.
Gnanasara Thera had been serving a six-year prison sentence for contempt of court when the then President Sirisena granted him the pardon, in May, 2019. He had served only about nine months of the sentence at the time.
With the pardon annulled, the original sentence remains in force and the Thera is now required to serve the balance of his six-year term.
The Supreme Court ruling has raised questions over the procedure to be followed to return him to prison, with police and prison authorities yet to take custody of him.
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