Philippines to Embrace AI Investments
During the Asia-Pacific Economic Cooperation Summit in San Francisco, Philippines President Ferdinand Marcos Jr. expressed his openness to embrace new investments into AI technology to strengthen an already improving economy. He specifically highlighted generative AI and its ability to enhance work production on all levels, stating “We believe AI can uplift the lives of Filipinos, increase the productivity of our enterprises, and enhance the competitiveness of our economy.”
The Presidential Communciations Office shared that Nightdragon, a leading venture capital firm from the Silicon Valley, was already in talks about expanding business opportunities in the Philippines to bolster cybersecurity infrastructure and privacy with additional AI resources which will help as the country aims to establish its own data centers and cloud systems so that it can rely on its own infrastructure for digital innovation.
The Philippines, often viewed as an underdeveloped nation, has experienced significant economic growth. Marco’s claimed that the country’s gross domestic product grew by 7.6 percent in 2022 which was the highest on record since 1976. As AI integration continues to spread across the world at a rapid pace, Marcos has made it clear that embracing the new technology is a high priority.
