SM Prime’s Sustainable Developments: Bridging Lifestyle And Leisure With Sustainability

SM Prime remains a key industry partner in the Philippines, delivering innovative and sustainable lifestyle cities that enrich the quality of life for millions of people.

Back-To-School Expenses? Here Are 4 Tipid Tips To Follow

As the school year 2024-2025 prepares to begin on July 29, 2024, and conclude on April 15, 2025, families across the country are adjusting to the return of the traditional June-March school calendar.

STI College Recognizes 11 Individuals In Annual Alumni Awards

STI College recently celebrated 11 outstanding alumni at the 2024 Distinguished Alumni Awards ceremony.

Tala Holds Financial Education Workshop And MSME Exhibit To Champion Entrepreneurship

On July 13, 2024, aspiring entrepreneurs, MSME owners, and business enthusiasts can attend an educational session at the Trinoma Activity Center, Quezon City, hosted by Tala Philippines and featuring Salve Duplito.Tala Philippines is organizing an insightful event on July 13, 2024, at Trinoma Activity Center, where attendees can learn from Salve Duplito about business strategies and insights.

Philippines To Gain Over PHP2 Trillion Annually From AI-Powered Solutions


Philippines To Gain Over PHP2 Trillion Annually From AI-Powered Solutions


How do you feel about this story?


The Philippines can gain more than PHP2 trillion annually if businesses use artificial intelligence (AI)-solutions but efforts must be made to improve the country’s internet infrastructure, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said.

“The technology is estimated to contribute USD15.7 trillion to the global economy by 2030 according to one estimate, with the Philippines potentially gaining PHP2.6 trillion annually if businesses adopt AI-powered solutions,” Balisacan said during the launch of the National AI Strategy Roadmap 2.0 and the Center for AI Research held on Wednesday at the Westin Manila, Ortigas Center, Mandaluyong City.

Balisacan said sectors such as retail, logistics, manufacturing, and financial services can revolutionize operations and enhance performance through the use of AI.

He added generative AI, which is capable of autonomously creating content, designs, and solutions, can help transform industries by significantly reducing production costs.

“By integrating generative AI, the Philippines can take a leading role in creative industries, software development, and other high value-added services, further boosting our economic potential,” Balisacan said.

“Ultimately, the National AI Strategy Roadmap 2.0 will strengthen the government’s capacity for sustainable digital transformation, promoting local innovation and entrepreneurship while enabling new opportunities in the digital economy,” he added.

Balisacan, however, cited the need to improve the country’s internet infrastructure as AI technology depends on real-time data exchange and processing capabilities, requiring high-speed internet and vast data storage solutions.

“To strengthen the country’s internet infrastructure and enhance digital connectivity, NEDA, in collaboration with other government champions, strongly advocates for the passage of the Konektadong Pinoy Act or the Open Access bill,” he said.

The proposed bill aims to provide affordable internet access for every Filipino by enhancing market accessibility, upgrading physical and digital infrastructure, and enabling full participation of individuals and businesses in the digital economy.

“By promoting access to affordable and better-quality internet services, this legislation will allow the country to harness the full benefits of AI,” Balisacan said. (PNA)