Metro Manila (CNN Philippines, November 16) — President Ferdinand Marcos Jr. invited technology stakeholders to invest in the Philippines as the government works to boost the development of Artificial Intelligence (AI) in the country.
\”The Philippines is ready to become your partner in navigating the AI future. As we look to the horizon, let’s ‘Make It Happen in the Philippines,’ where, the promise of a future defined by technological inclusivity and shared growth is not just envisioned but actively realized,\” Marcos said in a meeting with technology investors on the sidelines of the 30th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting in San Francisco, California.
According to the Presidential Communications Office (PCO), Marcos revealed during the roundtable discussion that the Philippines is crafting a National AI Strategy, which aims to augment the existing skill set of Filipino talents through AI and position the country as a center of excellence in Artificial Intelligence.
\”We believe AI can uplift the lives of Filipinos, increase the productivity of our enterprises, and enhance the competitiveness of our economy. And I’m certain our discussions here today will help the Philippines steer our roadmaps in a direction that maximizes the skills of Filipinos and helps them achieve their aspirations,\” he added.
Marcos also told private companies, investors, and venture capitalists in attendance that the event was a “momentous occasion” after the Philippine economy grew by 7.6%, while also recording $9.2 billion in Foreign Direct Investments both in 2022.
Introducing generative AI in PH
In the same meeting, the Philippines and Silicon Valley firms agreed to work together on improving AI and cybersecurity in the country.
Nightdragon chief executive officer (CEO) David Dewalt, a leading venture capital firm for cybersecurity, security, safety, and privacy, said his company and other firms are looking forward to bringing different technologies to the Philippines, particularly generative AI. He added this will be beneficial to the country considering its young and powerful workforce.
This technology will be a “leveling force for small businesses” as consumers most of the time use bigger platforms when purchasing online, said Visa CEO Ryan McInerney. Generative AI will allow small enterprises “to provide Filipinos a rich, shopping, and commerce experience,” he added.
Meanwhile, Marcos also emphasized the role of platforms like APEC in preventing conflicts through \”sustained economic prosperity\” during a speech at the APEC CEO meeting.
He urged member states to leverage the organization’s core values, work with the private sector, and align efforts with global economic initiatives.
