VSTECS is urging Filipino firms to fully embrace artificial intelligence (AI) to avoid falling behind their domestic and international counterparts.

In an exclusive interview at the opening of this year’s CXO Tech Summit last month, VST ECS president and CEO Jimmy Go emphasized that 2024 is a critical year for AI, as it has already transformed the way people and companies operate.

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

Go pointed out that companies that remain skeptical and fail to adopt AI in their businesses risk being left behind.

“Tasks in the manufacturing industry, among others, can be completed more quickly with AI. In fact, there are many AI tools available that can help businesses improve transaction speeds and even enhance work processes, such as coding. It’s much simpler to do nowadays,” he explained.

He acknowledged that the Philippines is lagging behind in AI adoption compared to other countries, but believes the country can catch up.

“One industry benefiting from AI is the call center sector, as they are now utilizing AI chatbots. While AI adoption might not be widespread across the entire BPO industry, the call center sector is moving forward, creating AI-related jobs for Filipinos,” Go added.

Go emphasized his belief that AI is rapidly transforming industries, creating new job roles, and driving innovation.

“This conference will provide valuable insights into harnessing AI for business growth, cybersecurity, and operational efficiency,” he said.

According to a report by Statista, the AI industry in the Philippines is projected to grow to $3.5 billion (P202.2 billion) by 2030, at a compound annual growth rate of 28.57 percent, up from $772 million (P44.6 billion) in 2024.

Meanwhile, the Department of Trade and Industry has also stated that the country could see a 12 percent increase, or $92 billion (P5.3 trillion), in GDP growth by 2030, if it fully embraces digitization, including AI.

VSTECS’s various forums, held from 13 to 16 November and led by some of the ICT industry’s top minds, explored the cutting-edge intersection of artificial intelligence and cybersecurity.

In addition to AI, topics discussed during the four-day conference will include advancements in AI and cyber resilience, big data and storage, cloud solutions, networking and collaboration, and office automation.