THE Philippines has the potential to become an artificial intelligence (AI) powerhouse, said Department of Trade and Industry (DTI) Secretary Ramon Lopez.
“We see how AI becomes a great equalizer where our educated, highly skilled and highly motivated young population can make their mark. Everyone has a place under this new industrial regime, regardless of educational level, or background, or interest,” said Lopez.
The trade chief is banking on the country’s abundant human capital, those graduates of science and engineering as well as non-technical courses.
Lopez said AI can be used in various applications such as in agriculture, healthcare, finance, retail, transport and smart cities. AI software revenue by industry is expected to reach more than US$100 billion by 2025 while global AI business value is projected to reach US$5.8 trillion by 2022.
Lopez also shared the working framework for the formulation of the Philippine AI Strategy.
“As we visualize this, we will obtain support from various stakeholders from national, regional, and local champions from schools and universities across the country as well as from industry giants,” Lopez said.
Likewise, the trade chief shared the highlights and key elements of inclusive, innovation-led, industrial strategy, which aims at growing innovative and globally competitive manufacturing, agriculture, and services while strengthening their linkages to domestic and global value chains.
“President Rodrigo Duterte’s vision is for the country to have creative and connected communities where innovators, start-ups, micro, small medium and large enterprises can collaborate to produce new products and services. Working together can help us achieve our goal of generating inclusive growth and shared prosperity for all, most especially for those at the bottom of the pyramid,” said Lopez. (PR)