The Artificial Intelligence (AI) industry could potentially contribute 12 percent of the Philippines’ gross domestic product (GDP) by 2030, a Trade official said on Tuesday.
At an online forum by the Stratbase ADR Institute, Trade Undersecretary Rafaelita Aldaba said AI could likely contribute $92 billion to the GDP in seven years.
An AI roadmap has been developed, with the belief that the industry will uplift Filipinos and Filipino industries, he said.
“Make the Philippines an AI center of excellence. AI adoption can enable the country to tap vast opportunities,” Aldaba said.
She added that one of the recommendations of the AI roadmap is building a Center for AI Research. It will be a public-private partnership hub for data scientists and researchers to perform collaborative AI research, development, and technology application.
“The center would focus on key areas utilizing AI such as precision farming to improve productivity of the agriculture sector and increase incomes of farmers, smart manufacturing, healthcare services, AI-powered business process outsourcing, smart cities, and resilient technology,” Aldaba said.
“It’s gonna unlock a lot of business modes that were not economical, not sustainable, or even not imaginable in the past,” said Jokin Aboitiz, head of corporate services of Aboitiz Power, at the recent AI summit in Pasay City.
Organizers of the meeting said AI is the future and can benefit the Philippines.
Both Labor Secretary Bienvenido Laguesma and Economic Planning Secretary Arsenio Balisacan likewise cited AI technology in the Philippines. They said while there may be some initial job losses, AI will also create new jobs to offset this.