Manila Tech Summit to discuss how AI bolsters economy

FinTech Alliance.PH slated this year’s Manila Tech Summit to discuss the impact of the AI revolution on bolstering Philippine economic growth on 6-7 August 2024 at the Manila Marriott Hotel, Newport World Resorts in Pasay City.

Fintech Alliance.PH, the country’s premier association of fintech and digital innovators, announced that it is gathering the largest number of fintech, finance, and digital finance organizations, said the summit will focus on the theme "AI Unlocked: Shaping Our Digital Future."

Summit chairman Lito Villanueva opens the press conference by stating, "It couldn't be a more timely push for artificial intelligence."

He shared that there has been a 45 percent increase in AI spending among CIOs (chief innovation officers) for 2024, according to the International Data Collection (IDC).

The theme "AI Unlocked" promises thought-provoking discussions on AI and its impact on the labor force, cybersecurity, and the importance of safe regulations and developments emphasizing: “We won’t be playing it safe when it comes to discussing AI.”

Martha Borja, Grab Philippines Country Head, and FinTech Alliance Trustee, announced LinkedIn as one of the official knowledge partners among others to discuss how to humanize AI, stating, "It's not man vs. machine."

Imelda Tiongson, FinTech Alliance Trustee, hinted at government partnerships to discuss AI regulations, mentioning the new jurisdiction in Europe that has set a benchmark for other FinTech laws in the country.

The Manila Tech Summit aims to explore the transformative power of AI in reshaping the nation's landscape, driving economic prosperity, efficiency, and innovation across key sectors such as finance, education, agriculture, healthcare, transportation, and e-commerce.

Lito Villanueva, founding chairman of the Fintech Alliance and RCBC executive vice president and chief innovations and inclusion officer, highlighted the significant impact AI has and will have on the Philippine economy.

He emphasized that AI is not just a tool but a transformative force that will reshape industries, influence economies, and cultivate innovation.

Villanueva noted that it is the ideal time for the industry to unite and elevate the discourse on the future of AI in the Philippines.

The Manila Tech Summit is staged in collaboration with several government agencies, including the Bangko Sentral ng Pilipinas, Department of Finance, Department of Information and Communications Technology, Department of Trade and Industry, Department of Science and Technology, Securities and Exchange Commission, National Development Company, National Privacy Commission, Credit Information Corporation, Insurance Commission, Anti-Money Laundering Council, and National Economic Development Authority.

Several strategic private partners will also be joining this biggest tech event in the country such as the Asian Institute of Management, Ateneo John Gokongwei School of Management, International Data Corporation, ASEAN Economic Forum, Asia FinTech Alliance, AI Global Council, Philippine Marketing Association, BDO, Insight Genie, Huawei, Shield, Digital Bank Associations, Grab Defence, Netcore, IDFy, GCash, Bureau Inc., Tata Consultancy Services, TIM Corporation, SID Technology, Institute of Internal Auditors, InvestHK, Globe Business, LinkedIn, Philippine Airlines, PLDT, and WIZ.AI.

The event is expected to provide a platform for members of the finance and fintech sector to understand the current trajectory of the industry and leverage AI technologies for sustained growth.