BANKS in the Philippines are poised to expand hiring and improve efficiency as artificial intelligence (AI) becomes more integrated into operations, according to a survey by Accenture.
The study, Accenture’s Banking IT Executives Survey, which covered technology executives across Asia-Pacific, found that 74 percent of banks expect to increase their technology workforce due to the adoption of “agentic AI,” underscoring opportunities for job creation in markets like the Philippines. Only four percent anticipate job cuts.
This signals that AI is emerging as a growth driver for the banking sector, enabling institutions to scale operations while creating new roles. More than half of banks are already introducing hybrid positions that combine traditional IT work with AI oversight, while others are investing in reskilling programs to prepare employees for AI-enabled workflows.
Ambe Tierro, country managing director and technology lead of Accenture in the Philippines, said AI adoption presents a “clear opportunity” for banks to improve decision-making and deliver better services to Filipinos.
She said growth will depend on responsible implementation and workforce readiness.
Central bank’s role
She said the Bangko Sentral ng Pilipinas is playing a key role by setting guidelines for ethical AI use and supporting upskilling efforts, helping ensure that local banks can adopt the technology while managing risks.
Despite the potential, cost pressures remain a major concern.
Many banks continue to rely on legacy systems, with up to half of IT budgets spent on maintenance. This limits investments in innovation — a gap that AI could help address by improving productivity and freeing up resources.
Generative AI alone is expected to deliver efficiency gains of 24 to 34 percent in software development, allowing banks to reduce manual workloads and focus on long-delayed digital initiatives.
Still, adoption is gradual. Around half of banks remain in pilot stages, while governance frameworks for AI use are still underdeveloped — posing potential risks as deployment expands.
Nicole Bodack, Banking and Capital Markets lead of Accenture for Asia Pacific, said banks that modernize their systems and integrate AI effectively will be better positioned to turn technology investments into long-term competitive advantage.
The survey was conducted Sept-Nov. 2025 and involved 160 chief information officers, chief technology officer and other c-suite technology leaders from global banks across 12 countries – including 53 executives in the Asia Pacific region. / KOC