BORACAY, AKLAN — The country’s leading distributor of information and communications technology (ICT), VST ECS, is calling on Filipino firms to fully embrace artificial intelligence (AI) to remain competitive in both local and global markets.

Speaking at the opening of this year’s CXO Tech Summit, VST ECS President and CEO Jimmy Go highlighted that 2024 is a pivotal year for AI, as it is already reshaping business operations worldwide.

“AI is indeed the next revolution, bigger than inventions and the Internet revolution. It’s (really) something different, and it’s going to drive things very fast,” he said.

“Things to be done in the manufacturing industry, among other industries, can be shortened when you use AI. In fact, there are a lot of AI tools available that are helpful to businesses, which can make transactions and even work faster, for example, coding. It’s very simple to do nowadays,” he said.

According to Go, the Philippines currently lags behind other nations in AI adoption, though he believes the country has the potential to catch up. He noted that the call center sector, in particular, is leveraging AI through the use of chatbots, creating new AI-related job opportunities.

Go believes AI is quickly transforming industries, creating new roles, and driving innovation. “This conference will provide valuable insights into harnessing AI for business growth, cybersecurity, and operational efficiency,” he said.

A Statista report projects the AI industry in the Philippines will grow from $772 million (P44.6 billion) in 2024 to $3.5 billion (P202.2 billion) by 2030, with a compound annual growth rate of 28.57 percent. Meanwhile, the Department of Trade and Industry anticipates that AI adoption could increase the country’s GDP by 12 percent, or $92 billion (P5.3 trillion), by 2030 if fully embraced.

Organizers of the CXO Tech Summit, running from 13 to 16 November, have brought together top ICT industry experts to explore the intersection of AI and cybersecurity. In addition to the AI revolution, the four-day conference will address topics including Big Data and Storage, Cloud Solutions, Networking and Collaboration, and Office Automation.