The Department of Information and Communications Technology (DICT) and Land Bank of the Philippines have agreed to develop and test artificial intelligence tools aimed at helping micro, small, and medium enterprises (MSMEs) qualify for financing and digitize their operations.
Under a memorandum of understanding signed Monday, July 20, the two agencies will identify financing use cases, conduct pilot implementations, and collect operational feedback to improve the DICT’s MSME AI Tech Stack.
The mobile-first platform will offer AI assistants that can help entrepreneurs prepare business plans, organize documentary requirements, set prices, review contracts, create marketing materials, and identify financing and government assistance programs.
It will also support Filipino, English, and other major Philippine languages, according to the DICT.
The partnership is part of the ASEAN Priority Economic Deliverable on AI-Powered MSME Growth, which seeks to expand access to affordable AI tools for small businesses across Southeast Asia during the Philippines’ chairship of Asean this year.
The agencies will explore using AI to support credit assessments and help MSMEs improve their financial records and business decisions. Details on the platform’s rollout, eligibility requirements, and safeguards for business and financial data were not disclosed.
“Artificial intelligence must create real opportunities for our people, especially our MSMEs that serve as the backbone of the economy. This partnership with LANDBANK reflects our commitment to harness emerging tech and improve access to financing,” DICT secretary Henry Aguda said.
“Our ASEAN PED is about making AI useful for ordinary businesses. This MOU is another step which turns that vision into practical tools that will help MSMEs become more productive, financing-ready, and competitive,” DICT undersecretary Faye Condez-de Sagon said.
