Premier David Burt of Bermuda attended the NearCon technology conference in San Francisco, where he outlined the island’s strategy for integrating artificial intelligence into government operations and financial regulation. The event, hosted by the NEAR Foundation, brought together global leaders in digital finance and AI to explore the future of governance and economic innovation.

AI-Powered Pension Chatbot Pilot Launched

A major announcement from the trip was the launch of a pilot project between Bermuda’s government and the NEAR Foundation. The initiative aims to develop an AI-powered chatbot to assist government employees in calculating pension payments more efficiently. The tool is designed to provide faster and more accurate answers, improving the overall efficiency of public services.

If the pilot proves successful, the project will expand to create an online tax portal and calculator, allowing Bermudians to interact with government systems more easily. The initiative is part of Bermuda’s broader effort to modernize its financial and administrative infrastructure through technology.

Legal Clarity on AI in Financial Services

Premier Burt also announced that the government intends to explore adding legal clarity around the use of AI agents in financial services. A government working group has been established to consult with local stakeholders and members of the legal community on this issue.

The Bermuda Monetary Authority (BMA) continues to accept AI-related projects through its Regulatory Sandboxes and Innovation Hub. The BMA has also engaged in discussions with industry leaders on the responsible use of AI, following the publication of its discussion paper in July 2025. The authority aims to support innovation while ensuring that any changes to regulatory expectations are practical, risk-based, and avoid unnecessary duplication or regulatory burden.

Engagement with Venture Capital and Digital Finance

During his visit to San Francisco, Premier Burt 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 meetings aimed to explore opportunities for Bermuda to further develop its ‘on-chain economy’ initiative.

Burt also held additional meetings with digital finance companies to advance Bermuda’s broader financial modernization efforts. He was accompanied by two Digital Finance Advisors from the Ministry of Finance, emphasizing the government’s commitment to this sector.

The Premier participated in a fireside conversation titled, ‘The ‘Bermuda Triangle’ Approach to Innovation and AI as the Next Regulatory Frontier.’ During the session, he highlighted how Bermuda’s collaborative approach between government, industry, and the BMA has enabled the island to become one of the first countries to regulate digital assets.

Burt explained that Bermuda now plans to take a similar lead in regulating artificial intelligence. To share Bermuda’s vision with a wider audience, he recorded a podcast episode of The Rollup, providing insights into the island’s strategy for responsible innovation.

The visit to NearCon reinforced Bermuda’s commitment to staying ahead of global technology trends while ensuring that innovation directly benefits its citizens. By combining practical government pilots with clear regulation, Bermuda continues to position itself as a forward-thinking jurisdiction that responsibly embraces new technology.

A Government spokesperson said, ‘The Premier’s attendance at NearCon highlighted Bermuda’s proactive approach to shaping the future of digital finance and AI regulation. These efforts are part of a broader strategy to ensure that technological advancements enhance public services and economic opportunities for Bermudians.’