Thursday, June 20, 2024

Indonesian AI-augmented reality firm to invest $20M in PH

The Department of Trade and Industry (DTI), through the Philippine Trade and Investment Center (PTIC) in Jakarta, met recently with officials of PT WIR Asia to discuss the Indonesian tech firm’s plan to expand into the Philippines with an initial projected investment of $20 million for this year. 

Photo shows (from left) PT WIR Asia management advisor Mark Castro, PTIC commercial attache Jeremiah Reyes, Erlan, PT Kreasi Global Indonesia business development general manager Ferdie Bennyanto
Photo from DTI

“It is encouraging to see that despite the limitations brought by the global pandemic, we managed to maximize our partnerships with our neighboring countries and the entry of foreign investments to the Philippines,” DTI secretary Ramon Lopez said. 

PT WIR Asia is a publicly listed company and a major technology player in the fields of augmented reality (AR) technology integrated with virtual reality (VR), and artificial intelligence (AI).

The company operates other businesses that include AR&Co, a company providing solutions for brands; DAV, a platform provider for Internet of Things; Mind Stores, a virtual store network; and DM ID for brand and metaverse consulting.

PTIC-Jakarta commercial attache Jeremiah Reyes led the meeting with WIR Group representatives in April 2022 to collaborate on the company’s expansion plans in the Philippines.

PT WIR Asia is considered as the first Metaverse company in Indonesia and has opened its offices in the Philippines through the acquisition and investments of domestic Philippine companies.

The Indonesian tech company currently has five global patents for AR which are registered nationally as well as in the Patent Cooperation Treaty (PCT) which covers 153 countries.

The WIR Group has completed more than a thousand projects, encompassing AR and VR application development and branding projects, for corporations from various industrial sectors located in more than 20 countries.

The Philippines has also been using its resources to enhance its own AI technologies that can reduce operational costs, increase efficiency, grow revenue, and improve customer experience inside its business industries. 

“We all know that AI is expected to revolutionize many aspects of our daily lives within the next decade. That is why DTI has remained steadfast in pursuing programs and partnerships that encourage innovation and enable us to reap the full benefits of these technological advancements,” Lopez said.

He added, “We expect the talent of the Filipino to lead in terms of building, developing, and utilizing new technologies like artificial intelligence, robotics, cloud, and 5G connectivity, among others, and use these technologies for economic expansion, social change, and nation-building.”  

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