MANILA — Strong governance and responsible use of artificial intelligence are essential to maximizing its benefits while managing emerging risks, Bangko Sentral ng Pilipinas Gov. Eli M. Remolona Jr. said.
Remolona made the statement during the BSP AI Summit 2026 on July 27 at the BSP head office in Manila, which brought together regulators, banking industry leaders and technology professionals to discuss the responsible adoption of AI in the Philippine financial sector.
With the theme, “From Pilot to Practice: AI Adoption in the Philippine Financial Sector,” the summit examined how AI can expand financial opportunities for Filipinos while addressing the risks and challenges that come with wider adoption.
Remolona highlighted AI’s potential to create new opportunities for consumers and businesses but stressed the need for strong governance to manage emerging risks. He also said AI should complement people rather than replace them.
“AI can identify patterns, generate ideas, and help us make sense of complexity. But deciding where we want to go or what outcomes we value most by using AI, that remains our responsibility,” Remolona said.
BSP Deputy Gov. Lyn I. Javier reaffirmed the central bank’s commitment to putting appropriate safeguards in place to protect consumers as AI transforms financial services.
Participants shared how financial institutions are using AI to improve customer service, strengthen fraud detection and increase operational efficiency.
The discussions also underscored the importance of high-quality data in maximizing AI’s benefits and supporting sound risk management and decision-making.
BSP Monetary Board members Romeo L. Bernardo, Rosalia V. De Leon and Jose L. Querubin also attended the summit, along with other BSP officials. PR
