In a country celebrated for producing some of the world’s finest gemstones, Sri Lankan gemologist Rewatha Milinda Edirisinghe now says the future of gemstone testing must move beyond traditional observation and into the realm of scientific precision powered by artificial intelligence.

Edirisinghe, the Founder and Managing Director of Gemological Report of Ceylon (GRC), has introduced what he describes as a next-generation AI-integrated spectroscopy system designed to modernize gemstone identification and analysis for global gem laboratories.

The innovation, currently under patent application in Sri Lanka with plans for international patent registration, combines a traditional gemological spectroscope with smart-device connectivity, proprietary algorithms and an AI-driven gemstone database capable of analysing mineral compositions with unprecedented precision.

According to Edirisinghe, the invention was born out of a longstanding frustration shared by many gemologists.

“The spectroscope is one of the most powerful tools in gemology, but it is also one of the most uncomfortable instruments to use,” he said during an interview with The Island Financial Review. “Even experienced gemologists often avoid using it extensively because it strains the eyes and requires difficult interpretation of colour absorption patterns. For colour-blind users or those with eyesight limitations, it becomes even more challenging.”

A conventional spectroscope allows gemologists to study how gemstones absorb light, revealing unique spectral signatures linked to trace elements such as chromium, iron and vanadium. These spectral patterns function much like fingerprints for gemstones, helping experts identify species, treatments and origins.

Edirisinghe’s solution transforms that traditionally manual process into a digitally assisted scientific system.

Using a specially designed clip-on device attached to the spectroscope, spectral data from gemstones can now be transmitted directly to a smartphone or smart device under varying lighting conditions and viewing angles. The collected data is then processed through dedicated software and algorithms before being matched against an AI-supported gemstone database developed in collaboration with foreign partners, including specialists in Thailand.

“The spectroscopy is the fingerprint of a gemstone,” Edirisinghe explained. “What we have done is create a system that captures those fingerprints more accurately than ever before and analyses them scientifically through AI-supported comparison.”

The system, branded as the “Ray’s Spectroscopy System for Smart Devices,” named after his middle name Rewatha, is designed to identify gemstone treatments, detect enhancements and even assist in determining the geographic origin of stones.

He says the innovation marks a significant shift in how gemstone certification could evolve globally.

“In many laboratories, reports are sometimes issued mainly based on surface-level tests such as specific gravity or refractive index measurements. Those methods are important, but they are not enough for comprehensive gemstone identification in today’s complex market,” he noted.

“With this system, gemstone analysis becomes a deeper scientific exercise rather than simply issuing a certificate after limited testing.”

Edirisinghe believes the technology will also democratize access to advanced testing by offering laboratories a more affordable alternative to costly imported systems.

The GRC founder is no stranger to challenging conventions within the gem industry. Earlier this year, his laboratory gained industry attention for introducing rigorous multi-layered certification methodologies aimed at elevating Sri Lanka’s standing in international gemstone authentication markets.

Now, with his latest innovation, Edirisinghe says he hopes to position Sri Lanka not merely as a source of valuable gemstones, but also as a contributor to global gemological science.

He draws parallels between his contribution and that of the late Francis Leo Danvil Ekanayake, who discovered the rare radioactive mineral ekanite in Sri Lanka in 1953.

“After the discovery of ekanite, there have been very few scientific innovations emerging from Sri Lanka’s gemological sector,” he said. “I wanted to contribute something practical and globally relevant to the industry.”

While commercial production awaits patent approval, the system is already being used internally at GRC’s laboratory in Colombo. Meanwhile, the database continues to expand with fresh gemstone data and analytical inputs from international collaborators.

For Edirisinghe, the ambition extends beyond business success.

“If Sri Lanka is known for producing some of the world’s finest gemstones, then we must also contribute world-class scientific innovation to the industry,” he said. “That is how we truly elevate Sri Lanka’s name in global gemology.”

The Commercial Bank of Ceylon has announced a nationwide campaign to accelerate the adoption of LankaPay JCB debit cards, offering customers across Sri Lanka another compelling opportunity to step into a more secure, convenient and rewarding cashless lifestyle.

Building on strong momentum achieved in 2025, when customer uptake and usage signalled growing confidence in LankaPay cards as a dependable payment solution, the Bank said this latest initiative is designed to make every day digital payments more accessible and appealing than ever before.

The campaign centres on a limited-time offer that enables customers to obtain a LankaPay JCB debit card with the first-year issuance fee completely waived. Available from 1st May to 31st December 2026, this offer is open to both new customers and existing debit cardholders, making it easier for a wider segment of Sri Lankans to upgrade to a modern payment experience.

LankaPay JCB debit cards issued by Commercial Bank are accepted at a broad spectrum of supermarkets, retail outlets, restaurants and service providers across the country, enabling seamless transactions for daily needs. Cardholders also benefit from a host of value additions, including exclusive discounts, cashback offers and seasonal promotions, while enjoying the convenience of international usability through JCB’s global network for travel and overseas transactions.

Colombo — Sri Lanka’s ambitious risk-based VAT refund system, designed to fast-track refunds for compliant exporters within 45 days, is colliding with a stubborn reality: businesses don’t trust what they cannot see.

According to a recent webinar hosted by the International Chamber of Commerce Sri Lanka (ICCSL), where Ernst & Young Principal – Tax Velauthaplillai Shakthivel served as a key panellist, the reform carries genuine promise—but also genuine anxiety among taxpayers .

The new framework, supported by International Monetary Fund technical experts, classifies taxpayers into low, medium and high-risk categories. In theory, low-risk businesses receive refunds swiftly while questionable claims face closer scrutiny. But during the ICCSL discussion, which also featured KPMG Principal Rifka Ziyard and IRD Commissioner P. Disabandara, a recurring theme emerged: uncertainty breeds suspicion .

“We want to comply,” one participant noted, “but we also need to know the rules and trust that the system is fair and working” .

The concerns raised were practical, not ideological. Businesses asked: How exactly are risk levels assigned? Is the RAMIS tax administration system ready? Are IRD officers adequately trained? Most urgently, what happens to longstanding refund backlogs that predate the new system? Some participants reported that older claims appear to be treated less favourably than those filed under the new rules .

Ernst & Young’s presence on the panel was significant. As one of Sri Lanka’s leading professional services firms, EY has long advised exporters that cash flow disruptions from delayed refunds can cripple operations—particularly for small and medium enterprises still recovering from the economic crisis. The firm’s involvement signals that the private sector is watching implementation closely.

ICCSL Chairman Shanil Fernando opened the session by reassuring businesses that the new system “isn’t meant to intimidate” but rather to modernise processing . Yet trust, as several participants stressed, is not granted by speeches—it is earned through transparency.

The remedy proposed by stakeholders was telling. Businesses suggested interactive tools comparable to credit scoring systems used in banking—an online dashboard showing a taxpayer’s risk rating and offering practical guidance for improving it . Such a system would replace suspicion with predictability, allowing firms to understand exactly where they stand.

The stakes are high. For an export-dependent economy rebuilding after crisis, delayed VAT refunds act as an invisible tax—strangling working capital, delaying payroll, and eroding competitiveness. If the new risk-based system becomes a black box, it will replicate the very inefficiencies it was meant to solve.

As Sri Lanka continues its fiscal recovery under IMF guidance, the message from the ICCSL webinar was unambiguous: policy design alone is insufficient. Public confidence must follow. And with Ernst & Young and other leading firms keeping a watchful eye, the IRD now faces a credibility test it cannot afford to fail .