A Singaporean company is planning to launch in the Philippines several artificial intelligence (AI)-powered products and robots to help in the fight against Covid-19 pandemic.
With artificial intelligence (AI) emerging as a major force behind front-line detection systems and data analysis during the Covid-19 pandemic, Microsoft Philippines has deemed it fit to partner with several organizations and the Department of Trade and Industry (DTI) to push for the widespread adoption of the technology in the country through an initiative called “AI Pilipinas Coalition”.
Dr. Ju-Ho Lee, South Korea’s former Minister of Education, Science, and Technology, said “harnessing the power of AI in education is critical” especially now that many schools have shifted to online classes due to the coronavirus outbreak.
Department of Trade and Industry secretary Ramon Lopez said the roadmap will help the country become an “AI center for excellence” in the region, backed by a rich local talent pool and vibrant innovation and entrepreneurship ecosystem.
The value of data is increasing, and that value is stimulating the Internet of Things (IoT) Advanced Analytics Market, with the emergence of accessible out-of-the-box and off-the-shelf machine learning (ML) and artificial intelligence (AI) solutions.
In the Philippines, 100 percent of banks said they will continue to invest in compliance in the year ahead and 41 percent plan to significantly increase this investment in 2021.
Worldwide spending on artificial intelligence (AI) is forecast to double over the next four years, growing from $50.1 billion in 2020 to more than $110 billion in 2024.
While this year’s growth is somewhat slower than previous years due to the economic impact of Covid-19, research firm IDC said investment in AI will recover quickly.