The Philippines has the potential to be a major player in the adoption of artificial intelligence given its young labor force that can meet employers’ needs, Department of Trade and Industry secretary Ramon Lopez said this week. Of the country’s annual 700,000 new graduates, 75,000 are in science, technology, engineering and mathematics (STEM) subjects.
He said the country’s competitive advantage is its human capital, adding that the government needs to scale up capabilities and invest in developing human capital and skills to be able to manage AI as part of the industry.
Lopez said Manila aims to transform the Philippines into a center of excellence for AI, the same way it lured foreign companies to set up business there, driving the growth of the country’s BPO sector as a result. He added that the private sector is currently taking the lead in using AI technologies.