08 March 2024, 1 PM | Board of Investments AVR

 CEO Agnes Gervacio, Cofounder Ruth Yu-Owen, members of Connected Women, colleagues in government, distinguished guests, and media partners, good day to all.

As we embark on a new phase in our journey towards digital advancement, it’s crucial to acknowledge the transformative role of artificial intelligence (AI) in leading the Philippines into a future brimming with opportunities for growth and development. This journey transcends the bounds of technology, setting the stage for a landscape where development opportunities flourish.

AI has the potential to significantly boost our economy by enhancing business efficiency, fostering innovation, and unlocking new markets. This advancement benefits not just the corporate sector but also the broader fabric of our nation, the very people in our country, contributing to our collective prosperity.

Moreover, AI introduces new career paths and necessitates a shift in the workforce’s skills. Through investments in AI education and training, we aim to equip Filipinos, men, and women, with the tools needed to navigate these emerging opportunities, addressing challenges such as unemployment head-on.

I understand that there are many individual operators who contract clients outside the country for digital work, in many of them in the world of AI.

In sectors like healthcare, education, and agriculture, AI solutions can address critical challenges, streamline services, and enhance the quality of life for our people. Imagine receiving personalized health advice via an app or utilizing smart systems for more effective traffic management.

By taking a leadership role in AI, the Philippines can enhance its global standing, attract foreign investment, and establish itself as a hub for innovation and talent. This ambition is about building a resilient, and innovative economy for the future.

The AI sector in the Philippines is witnessing considerable growth, with a surge in startups, research initiatives, and businesses leveraging AI to innovate and solve complex problems. This progress is supported by strategic measures from the Department of Trade and Industry (DTI) and other government initiatives aimed at fostering innovation and digital transformation, as some of our consumer services are already applying AI.

Connected Women exemplifies the transformative potential of technology. Their commitment to providing online skills development and remote work opportunities for women is not only empowering but also transformative, fostering positive change across families and communities.

I just recalled the company I visited in Indonesia; they came up with a business that specifically targeted housewives to provide retail services powered by AI.

Our partnership with Connected Women heralds a new chapter of possibilities. We’ve outlined a robust framework for collaboration, focusing on online skill development, knowledge sharing, cybersecurity, AI education, and industry identification. Our joint efforts aim to empower women to excel in the AI ecosystem.

In conclusion, AI is pivotal for economic growth, job creation, enhancing the quality of life, and solidifying the Philippines’ position on the global stage. By harnessing AI’s transformative power, we can address our challenges and unlock a future filled with prosperity and sustainable growth.

I am enthusiastic about the potential of our collaboration with Connected Women and its impact on the AI landscape in the Philippines. Together, DTI and Connected Women will lead the charge in fostering inclusive growth, innovation, and empowerment. I look forward to the fruits of this partnership and the positive changes it will bring.

As we move forward, let’s embrace the spirit of “Bagong Pilipinas” — a renewed Philippines where innovation, inclusivity, and progress pave the way for a brighter, and more prosperous future for all of us. ♦

Date of release: 08 March 2024