THE Department of Trade and Industry (DTI) announced it has partnered with Singapore Industrial Automation Association (SIAA) in hosting the “Artificial Intelligence (AI) Asia Expo” in November, which is expected to discuss how the Philippine government will “unlock” substantial economic capacity that AI represents, among others.
According to the DTI, its officials signed a memorandum of agreement (MOA) last August 15 with SIAA and LOD Events Pte. Ltd. to co-host the “AI Asia Expo-Philippines 2023,” which will be held in Metro Manila from November 7 to November 9.
According to the trade department, the 3-day event is expected to draw 4,000 participants and will feature keynote presentations, panel discussions and an exhibition showcasing cutting-edge AI-products and solutions from both local and international companies.
At a news briefing last Tuesday, the DTI fact sheet noted that the “AI Asia Expo” is a “critical milestone” on the country’s path to national preparedness and competitiveness.
“It aligns with our goal of fostering innovation, creating high-income jobs, and positioning the Philippines as a significant player in the global AI landscape,” a statement from the DTI read.
The Trade department emphasized areas of discussion at the Expo will center on the government’s “pivotal” role in building a “robust” AI ecosystem in the Philippines.
“We’ll focus on the strategic actions outlined in the Philippine National AI Strategy roadmap, highlighting efforts to align our nation’s approach with the rapid pace of technological development,” the DTI said through the statement.
The DTI also highlighted that it will explore the “immense potential” of AI to drive growth in Philippine industries.
For instance, the agency noted that discussions will revolve around how the government is working hand-in-hand with stakeholders to unlock the “substantial” economic capacity that AI presents.
“We’ll examine use cases and best practices for AI adoption, highlighting the government’s support in accelerating learning and knowledge exchange among organizations,” DTI said.
“The goal is to shed light on how the government’s role extends to enabling industries to harness AI’s transformative power and stay competitive on a global scale,” the Trade department added.
In a statement issued last Friday, the Philippine Exporters Confederation Inc. (Philexport) noted that about 40 percent of those reporting AI adoption at their organizations said their companies expect to invest more in AI in the years ahead as they continue to see returns in the business areas in which they are using AI.
“We see a majority of respondents reporting AI-related revenue increases within each business function using AI. And looking ahead, more than two-thirds expect their organizations to increase their AI investment over the next three years,” the DTI said citing a global survey released by McKinsey & Co.
The online survey was conducted in April and garnered responses from nearly 1,700 participants representing a “full range” of regions, industries, company sizes, functional specialties and tenures. It confirmed the “explosive growth” of AI, described as algorithms (such as ChatGPT) that can be used to create new content, including audio, code, images, text, simulations, and videos.
“Less than a year after many of these tools debuted, one-third of McKinsey’s survey respondents say their organizations are using gen AI regularly in at least one business function,” Philexport’s statement read.
“The most commonly reported business functions using these newer tools are marketing and sales, product and service development, and service operations such as customer care and back-office support,” the organization added.