Tech Explained: Here’s a simplified explanation of the latest technology update around Tech Explained: Government set to build AI pension calculation chatbot – The Royal Gazette in Simple Termsand what it means for users..
Created: Mar 08, 2026 01:13 PM (Updated: Mar 08, 2026 01:14 PM)
Innovation talk: Premier David Burt, left, talks about digital assets, AI and regulation at the NearCon global technology conference in San Francisco (Photograph supplied)
The Government intends to launch a pilot project to build an AI-powered chatbot designed to help government employees calculate pension payments more efficiently.
The Near Foundation, a Swiss-based non-profit whose mission is to enable community driven innovation to benefit people around the world, will partner with the Government on the project.
“In simple terms, this tool will help staff get faster and more accurate answers when calculating pension amounts,” a Bermuda Government spokeswoman said.
“If the pilot is successful, the project will expand to create an online tax portal and calculator that allows Bermudians to check information and interact with government systems more easily.”
The announcement in a government press release comes after David Burt, the Premier, attended the NearCon global technology conference, hosted by the Near Foundation, in San Francisco on February 23 and 24.
The Government also intends to explore adding legal clarity around the use of AI agents in financial services, the press release stated.
A government working group has been formed to begin consultations with local stakeholders and members of the legal community.
At the same time, the Bermuda Monetary Authority continues to accept AI-related projects in all forms through its “regulatory sandboxes” and innovation hub — which allow new ideas to be tested safely.
The statement added the BMA has engaged in discussions with industry on the responsible use of AI following the publication of its discussion paper in July 2025.
Leaders in digital finance and artificial intelligence gathered at NearCon to discuss how these technologies are shaping the future of finance and government services.
“The Authority’s objective is to support responsible innovation while ensuring that any enhancements to supervisory expectations are practical, risk-based, and avoid unnecessary duplication or unintended regulatory burden to the market,” the government spokeswoman said.
While at the conference, the Premier participated in a fireside conversation titled, “The ‘Bermuda Triangle’ Approach to Innovation and AI as the Next Regulatory Frontier.”
The conversation covered Bermuda’s collaborative approach to innovation between government, industry, and the Bermuda Monetary Authority.
The Premier explained how this approach helped Bermuda become one of the first countries in the world to regulate digital assets, and how the island now plans to take a similar lead in artificial intelligence, the statement added.
Mr Burt also recorded a podcast episode of The Rollup to share Bermuda’s vision with a wider international audience.
Premier David Burt, pictured while recording an episode of The Rollup podcast in San Francisco (Photograph supplied)
During the visit, the Premier also met with managing partners from leading venture capital firms to discuss trends in digital assets, artificial intelligence, quantum computing, space, and other emerging technologies.
The statement added that he held additional meetings with digital finance company representatives to advance Bermuda’s broader “on-chain economy” initiative, an effort to modernise payments and financial services on the island.
The Premier was accompanied by two digital finance advisers from the Ministry of Finance.
“The visit to NearCon reinforced Bermuda’s commitment to staying ahead of global technology trends while ensuring that innovation directly benefits Bermudians,” the government spokeswoman added.
“By combining practical government pilots with clear regulation, Bermuda continues to position itself as a forward-thinking jurisdiction that responsibly embraces new technology.”