Sunday, July 14, 2024

AI seen to boost PH economy by P2.8 trillion by 2030

The widespread integration of artificial intelligence (AI) solutions across Philippine business sectors presents a significant opportunity for economic growth and productivity, according to a recent study conducted on behalf of Google Philippines by UK-based tech policy advisory firm Access Partnership.

Philippine businesses could benefit from AI-powered products and solutions to the tune of P2.8 trillion ($50.7 billion) by 2030, according to the study.

“The Philippines is on the verge of becoming an upper middle-income country, with over 60% of Filipinos having already started to use some form of AI in the workplace. AI cuts across every single sector,” said Dr. Fraser Thompson, Access Partnership’s principal for Economics Strategy, at the unveiling of the study at Google Philippines headquarters in Taguig City on Thursday, May 30.

“They say AI is going to take away jobs, that’s the common narrative. But what we’re seeing is that the job impacts are really going to be small. It’s not about losing jobs to AI but losing access to the skills needed to use AI,” he added.

To address this growing demand for new AI-related skills, Google Philippines announced the launch of its Google AI Essentials course on Coursera.

The course, which requires no prior AI experience, provides hands-on training in using AI tools to develop ideas and content; research and organize information towards making more informed decisions; efficiently handle writing and other creative tasks; and promote the responsible use if AI in various settings.

“There’s a big opportunity to bridge this skills gap. AI is going to have a tremendous impact on the Philippine economy,” said Gabby Roxas, country marketing manager for Google Philippines, Vietnam and South Asia frontier markets.

To further spur widespread access to AI education, Google has also partnered with the Department of Information and Communications Technology (DICT) and the Department of Trade and Industry (DTI). These collaborations are expected to facilitate the distribution of Google AI Essentials scholarships to Filipino youth, jobseekers, MSMEs, entrepreneurs, civil servants, and others.

DTI secretary Alfredo Pascual praised the initiative in a prepared statement: “Google’s AI Essentials launch is a key step forward in digital inclusion and innovation. By broadening access to AI education, this initiative is set to transform our economy and equip a skilled workforce ready to capitalize on digital opportunities.”

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