Saturday, June 15, 2024

DTI Explores AI Power To Transform Philippine Economy

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DTI Explores AI Power To Transform Philippine Economy

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President Ferdinand R. Marcos Jr. and Department of Trade and Industry (DTI) Secretary Alfredo Pascual met with the Silicon Valley Technology companies and investors to discuss potential partnerships in harnessing artificial intelligence (AI) technology, particularly in upskilling Filipino workers.

During the meeting on Nov. 15, Pascual chief highlighted programs and initiatives undertaken by the Philippine government to support the advancement of AI technology.

“Fostering a future-ready workforce is a collaborative effort that should be undertaken by both public and private stakeholders. Since these digitalization efforts demand a shared responsibility, it is imperative that an alliance be formed that capitalizes on the strengths of both sectors. As the government employs a whole-of-society approach, we urge our partners from the local and global industry to work with us in ensuring an inclusive economic development,” Pascual said in a news release on Saturday.

He presented the Philippines’ implementation of the AI roadmap, which is expected to drive innovation, create new products and upskill the country’s workforce.

He emphasized that the country’s AI policies and technologies will augment labor rather than replace it, leading to increased hiring and the emergence of new tasks.

Further, Pascual stressed that AI has the potential to promote inclusive, resilient, and sustainable industrial development in the Philippines.

Pascual also reported that the Philippines is positioning itself as a “Center of Excellence in Artificial Intelligence,” with over 50 tech startups using AI and 83 percent of Southeast Asian countries actively developing AI strategies.

In addition, he emphasized that the country’s National AI Strategy is focused on improving the lives of the population, boosting enterprise productivity, and enhancing economic competitiveness.

The DTI chief presented four strategic dimensions for the implementation of this National AI strategy — digitalization and infrastructure; workforce development; regulation; and research and development (R&D).

The strategies are expected to drive the country’s robust economic growth and expansion as they will enable industries to keep up with the demands of the fast-changing technology.

Further, he cited that this strategy is aimed at maintaining local industries’ regional and global competitiveness, identifying key areas for investment in R&D and technology, R&D collaboration, preparing the workforce for emerging jobs, and attracting major industries to create jobs in the Philippines.

The roundtable meeting was co-organized by the DTI with Thomas Pompidou, David DeWalt of NightDragon, and Manny Maceda of Bain & Company. (PNA)