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Guests and members of the media are given an advanced viewing of the exhibit Wisdom of Da Vinci: An Immersive AI Experience at Bonifacio High Street in Taguig on August 2, 2023. Jonathan Cellona, ABS-CBN News

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'Wisdom of Davinci' in exhibit

Andrea Taguines

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/171713242698620230802-wisdom-of-davinci-ai-exhibit-JC-19.jpg" style="width:950px" class="fr-fic fr-dib"/><span class="fr-inner" spellcheck="false" style="text-align:left"><span id="isPasted" style="color:rgb(51, 51, 51);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:pre-wrap;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">Guests and members of the media are given an advanced viewing of the exhibit Wisdom of Da Vinci: An Immersive AI Experience at Bonifacio High Street in Taguig on August 2, 2023. <em>Jonathan Cellona, ABS-CBN News</em></span></span></span></span></div><p>MANILA -- <span id="isPasted" style="color:rgb(51, 51, 51);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:pre-wrap;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">Philippine businesses could reap P2.8 trillion or about $50.7 billion in economic benefits in 2030 by using artificial intelligence (AI)-powered products and solutions</span>, according to a study released by tech policy advisory firm Access Partnership on Thursday.</p><p>This could be in the form of cost-saving benefits or revenue benefits, said Fraser Thompson, the principal of economics strategy at Access Partnership, during the launch of the Google AI Essentials course in Taguig.</p><p>“In logistics, which is one of the more inefficient sectors across most countries, you can use AI to combine a whole lot of different data from weather patterns to latest traffic congestion to roadworks to various other aspects, and then help to optimize all the different combinations of transport to get a good from one place to another,” said Thompson, as an example of a cost-saving perk.</p><p>He also noted how retail companies can boost sales if they are able to better engage with consumers and understand their preferences through AI tools.</p><p>All in all, Thompson said they considered 60 use cases relevant to the Philippines and over 200 AI-powered technologies.</p><p>The study showed that of the P2.8 trillion potential economic value of generative AI, 21 percent would come from the consumer, retail and hospitality space; while 20 percent will come from manufacturing.</p><p>Another 15 percent will come from financial services; while 11 percent will come from professional services, including information technology-business process management (IT-BPM).</p><p>The remaining 33 percent will come from other industries, including infrastructure, agriculture and education.</p><div><a href="https://news.abs-cbn.com/business/2024/5/3/ai-sees-widening-adoption-among-ph-firms-microsoft-1206">AI sees widening adoption among PH firms: Microsoft</a></div><p>“As we start developing more case studies and understanding of AI, if we came back and did this even next year, I’d expect that number to be much much higher. This estimate is just the tip of the iceberg,” said Thompson.</p><p>The challenge, said Thompson, would be to make sure that Filipino workers are able to access the training they need to work with artificial intelligence.</p><p>“It’s not about losing jobs to technology but it’s about not having access to the digital skills to capture the benefits of AI. A lot of the survey data shows that a lot of workers don’t know where to start. I want AI skills but what AI skills? Where do I go?” he said.</p><div><a href="https://news.abs-cbn.com/business/01/18/24/businesses-must-not-be-afraid-of-using-ai-dict-official" rel="noopener noreferrer" target="_blank">Businesses must not be afraid of using AI: DICT official</a></div><p>“It’s also making sure we spread (those) AI skills to different parts of the population,” added Thompson.</p><p>Thompson said it may also take time for businesses to get a hang of the different AI technologies available and determine which ones would best complement their operations and boost their productivity.</p><p>Aside from the individual worker and the private sector, Thompson said the government should also recognize the importance of AI and integrate it into their system.</p><div><a href="https://news.abs-cbn.com/business/2024/5/26/ph-leads-world-in-workers-using-ai-microsoft-philippines-1524">PH leads world in workers using AI: Microsoft Philippines</a></div><p>“Governments are always under pressure. They never have enough resources across the globe for the questions they face so AI can be a really important productivity tool to help fill some of that gap,” he said.</p><div><a href="https://news.abs-cbn.com/business/2024/5/6/govt-agencies-back-creation-of-body-to-develop-regulate-ai-1643">Govt agencies back creation of body to develop, regulate AI</a></div><div><br/></div><div><strong>RELATED STORY:</strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/QFLQ6EKZ_2g?&amp;t=70s&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><div><br/></div>

<p>Philippine businesses could reap P2.8 trillion or about $50.7 billion in economic benefits in 2030 by using artificial intelligence (AI)-powered products and solutions.</p>

Philippine businesses could reap P2.8 trillion or about $50.7 billion in economic benefits in 2030 by using artificial intelligence (AI)-powered products and solutions.

PH seen making P2.8 trillion in economic gains with AI solutions

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PH seen making P2.8 trillion in economic gains with AI solutions

Andrea Taguines,

ABS-CBN News

Published May 31, 2024 02:10 PM PHT

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