MAKATI – Department of Trade and Industry (DTI) Secretary Ramon Lopez discussed with the University of the Philippines School of Economics Alumni Association (UPSEAA) the potential of the Philippines (PH) to become an artificial intelligence (AI) powerhouse. In his talk last 14 June 2019 on PH’s current business climate and industry development initiatives of the Department, the trade chief highlighted the country’s abundant human capital, those graduates of science and engineering as well as non-technical.
“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,” shared Sec. Lopez to his fellow UPSEAAns headed by President Jeffrey Ng, and composed of accomplished business executives, entrepreneurs, and economists.
DTI noted various applications for AI can be used in agriculture, healthcare, finance, retail, transport, and smart cities. AI software revenue by industry is expected to reach more than USD 100 billion by 2025 while global AI business value is projected to reach USD 5.8 trillion by 2022.
Read More: DTI
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The Philippine Trade & Investment Center in Taipei is the Commercial Affairs Section of the Manila Economic and Cultural Office and the representative office of the Philippine Department of Trade & Industry in Taiwan