SAN FRANCISCO, California – President Ferdinand Marcos Jr. on Wednesday (US Time) asked the tech industry stakeholders to invest in the Philippines as the government is working to speed up the growth of artificial intelligence (AI).

At a meeting with tech investors held in conjunction with the 30th Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting here, Marcos announced that the Philippines is currently working on a National AI Strategy to enhance the skills of Filipinos through AI and make the country a leader in AI.

Marcos also told private companies, investors, and venture capitalists in attendance that the event was a "momentous occasion" after the Philippine economy grew by 7.6 percent, while also recording $9.2 billion in Foreign Direct Investments both in 2022.

"The Philippines is ready to become your partner in navigating the AI future. As we look to the horizon, let's 'Make It Happen in the Philippines,' where, the promise of a future defined by technological inclusivity and shared growth is not just envisioned but actively realized," Marcos said.

"We believe AI can uplift the lives of Filipinos, increase the productivity of our enterprises, and enhance the competitiveness of our economy. And I'm certain our discussions here today will help the Philippines steer our roadmaps in a direction that maximizes the skills of Filipinos and helps them achieve their aspirations," he added.

Marcos also urged the member APEC states to leverage the organization's core values, work with the private sector, and align efforts with global economic initiatives.

The president cited factors that lead to a successful collaboration, namely expanding representation, strengthening government-business partnerships, addressing protectionism, intervening in market failures, and enhancing cooperation on a broader scale.

Silicon Valley, Phl to work together to improve AI

With that, both Silicon Valley and the Philippines decided to work together to improve AI and cybersecurity in the Philippines.

Nightdragon is a top venture capital firm for cybersecurity, security, safety, and privacy. David Dewalt, CEO of Nightdragon, said that his company and other companies are excited to bring new technologies to the Philippines, especially Generative AI.

Generative AI is a tool that lets people make different kinds of material, such as audio, video, and text.

Dewalt also said that this would be good for the country because its workers are young and strong.