The Ministry of Finance (Bermuda) published an update from Premier David Burt’s visit to NearCon in San Francisco, announcing a new Government of Bermuda partnership with the NEAR Foundation to pilot an AI-powered chatbot to support pension payment calculations. The update also signalled that the Government intends to explore adding legal clarity around the use of AI agents in financial services. The pilot will focus on building a tool to help government employees obtain faster and more accurate answers when calculating pension amounts; if successful, it would be expanded into an online tax portal and calculator for residents. A government working group has been formed to begin consultations with local stakeholders and members of the legal community, while the Bermuda Monetary Authority continues to accept AI-related projects through its Regulatory Sandboxes and Innovation Hub and has been engaging industry on responsible AI use following its July 2025 discussion paper, with an aim to keep any supervisory enhancements practical, risk-based, and avoid duplication or unintended regulatory burden.
Ministry of Finance (Bermuda) 2026-03-08
Bermuda Ministry of Finance partners with the NEAR Foundation on an AI pension-calculation chatbot pilot and starts work on legal clarity for AI agents in financial services
The Ministry of Finance (Bermuda) announced a partnership with the NEAR Foundation to pilot an AI-powered chatbot for pension payment calculations, with potential expansion to an online tax portal. A government working group will consult with stakeholders on AI use in financial services, while the Bermuda Monetary Authority continues to support AI projects through its Regulatory Sandboxes and Innovation Hub.