Bank of Maldives and MINDCo have jointly launched the Maldives AI Lab, the country’s National AI and Data Competency Centre, as part of the Maldives 2.0 Digital Transformation agenda.

The Maldives AI Lab was officially launched during the opening ceremony of Co.Lab 26 by Ali Ihusaan, Minister of Homeland Security, Labour and Technology.

The launch coincides with the start of Co.Lab 26, a four-day national programme that brings together government officials, private sector representatives, developers and technical experts to discuss the country’s approach to artificial intelligence. The programme includes discussions on AI use-cases and a mentored hackathon focused on government innovation and fintech solutions powered by BML’s Swipe API.

Speaking at the event, BML CEO and Managing Director Mohamed Shareef said AI can improve customer service, cybersecurity, fraud detection and decision-making in financial institutions.

MINDCo Managing Director Saeeda Umar said the new centre will help develop practical and locally relevant AI and data capabilities while supporting public service improvements and local talent development.

Minister Ali Ihusaan said the initiative aims to ensure AI development in the Maldives is led by local expertise and supports economic growth, government efficiency and digital innovation.

Interested participants can register for the Co.Lab 26 hackathon through Co.Lab 26.