Showing posts with label artificial intelligence. Show all posts
Showing posts with label artificial intelligence. Show all posts

Tuesday, 29 September 2026

Philippines among top performers in APAC AI governance report

Philippines among top performers in APAC AI governance report

Business World 
September 29, 2026

The Philippines scored 69.6 out of 100 in the APAC State of Digital Trust: AI Governance Benchmark Report by verification service company Sumsub. The report measures how well organizations in the Asia-Pacific (APAC) are managing and overseeing their use of artificial intelligence (AI) based on three pillars: autonomy, responsibility, and traceability. The country was second among Asia-Pacific markets in AI governance and above the regional score of 67.1, trailing only Thailand. It also tied Thailand for the region’s highest responsibility score at 74.8.



Thursday, 17 September 2026

Philippines forecast to be second fastest-growing economy in SE Asia through 2035

Philippines projected to be second fastest-growing economy in SE Asia until 2035

BusinessWorld
September 17, 2026

THE PHILIPPINES could emerge as Southeast Asia’s second fastest-growing major economy over the next decade, with growth averaging 5.8% through 2035, according to a report by Bain & Company, DBS Group Holdings, and Vriens & Partners. 


In the Southeast Asia Outlook 2026-2035 report released on Wednesday, the Philippine economy is projected to grow at an average annual rate of 5.8% from 2026 to 2035 under the baseline scenario.

“The Philippines, which has a favorable demographic tailwind, could grow at a 5.8% average annual rate as consumption, infrastructure, and governance reforms unlock investment,” the report said.

This would make the Philippines’ gross domestic product (GDP) growth the second-fastest among the six major Southeast Asian economies covered by the report, behind only Vietnam, which is projected to expand by an average of 6.2% annually until 2035.

The Philippine economy is expected to outpace Indonesia (5.4%), Malaysia (4.3%), Singapore (2.7%), and Thailand (2.2%).

Philippine GDP growth over the 10-year horizon is also above the 4.8% average for the six Southeast Asian economies.

The latest regional forecast for Southeast Asia is slower than the earlier average expansion of 5.1% for the 2024-2034 period, reflecting a more complex and volatile global environment.

However, the Philippine economy is experiencing a sharp slowdown this year, averaging 2.6% in the first half. The government is targeting 3.5%-4.5% GDP growth for 2026, and 5%-6% annually from 2027 to 2030.

Despite its relatively strong baseline forecast, the Philippines is also among the Southeast Asian economies facing the greatest downside exposure, according to the report.

The report noted that Indonesia, the Philippines, and Thailand would be the most exposed under a downside scenario because of their “capital-flow sensitivities, energy dependence, political uncertainty, and weaker structural momentum.”

Under more favorable global conditions, the Philippines could also capture less upside than Malaysia, Singapore, and Vietnam, which are better positioned to benefit from their roles in capital intermediation and global manufacturing supply chains. 

“Indonesia, Thailand, and the Philippines see more limited benefit, as persistent structural constraints limit their ability to translate an improved external environment into stronger growth,” the report said.

The Philippines’ favorable demographics, steady remittance inflows, and consumption-led  economic model provide some insulation from disruptions to global trade, it added.

However, it warned that the country’s dependence on imported energy, weaknesses in policy implementation and artificial intelligence (AI)-driven disruption to the outsourcing industry could prevent the economy from reaching its full potential.

The report also pointed to longer-term risks from AI-driven automation to the country’s business process outsourcing industry.

“Without stronger energy security and governance consistency, growth could be capped below the Philippines’ potential,” it said.

The report said that one of the Philippines’ immediate challenges is managing the transition to AI.

“The next few years will be critical; the Philippines must move into higher-value services while sustaining reform momentum through its next leadership transition,” it said.

The country also needs to strengthen its energy system, as gains in Philippine technology services have been constrained partly by limitations in the power grid. 

Across Southeast Asia, the report said growth over the next decade will increasingly depend on stronger institutions, more reliable energy systems and the ability to use AI to raise productivity.

“Dependence on imported energy quickly turns external price shocks into household inflation, while weak policy implementation hinders the conversion of investment commitment into actual deployment,” the report said.

It said grid capacity and reliability will be increasingly important in determining whether economies can expand their industrial bases and support power-intensive AI infrastructure.

The Philippines has already fallen short of the report’s earlier growth expectations. From 2024 to 2025, the economy grew by an average of 5.1%, compared with the 6.1% average assumed in their previous 2024-2034 forecast.

“The Philippines saw growth impeded by weaker investment and public sector execution,” the report said. — Justine Irish D. Tabile

Tuesday, 26 August 2025

Three PH firms included in Forbes Asia's '100 to Watch' list 2025

Three PH firms included in Forbes Asia's '100 to Watch' list 2025

Jon Viktor D. Cabuenas
GMA Integrated News
26 Aug 2025

Three Philippine companies were included in Forbes Asia’s annual ‘100 to Watch’ list for 2025, which highlights small firms and startups in the Asia-Pacific region with up to $50 million in annual revenue, and up to $100 million in total funding.


According to Forbes Asia, this year’s list showcases a range of startups in fields such as biotechnology, space technology, and green technology, with India leading the pack with 18 companies, followed by Singapore and Japan with 14 each, Indonesia and South Korea with eight each, and Australia with seven.

“They are utilizing advanced technologies like AI to enhance their products, which include gene-editing tools and propulsion systems for spacecraft. As a clear indication of their potential, these 100 startups have raised a combined total of nearly US$3 billion in funding to date,” Forbes Asia editorial director Rana Wehbe Watson said.

The listees are grouped under 10 categories, with the largest cohort in biotechnology and healthcare with 18, followed by enterprise technology and robotics with 16.

The Philippine companies included in this year’s list are the following:

Enstack

The e-commerce and retail firm was founded in 2021, and offers an AI-assisted app that can be used to design web stores. It has been downloaded over 100,000 times from Google Play, and expanded into Thailand this year. It has raised $3 million in total funding from backers such as BlackPine, Mangrove Capital Partners, Unifer Ventures, and Xendit.

NetBank

Founded in 2019, NetBank provides digital financial services such as loan management, and payments and disbursements. Its backers Beenext and Kaya Founders, and counts Smart Money, TikTok, and Lazada as clients. It posted a net profit of P22.2 million or $390 million in the first half of 2025, driven by the strong loan growth and the rise in deposits.

Xpress Super App

The consumer technology company was founded in 2022, offering ride-hailing, delivery, and courier services through its  application. It was co-founded by PJ Lhuillier Group president and chief executive officer Jean Henri Lhuillier and AppFactoric founder Nathan Taylor, and now has over 100,000 downloads in Google Play while a separate app for its driver community has over 10,000 installs.

The finalists were selected from online submissions that were solicited, along with the nominations from accelerators, incubators, universities, venture capitalists. They were chosen based on factors such as impact on and contribution to their industry and region, market fit, promising business model, innovation, track record, and their ability to attract funding. —KG, GMA Integrated News

Sunday, 22 June 2025

Justine Malabanan representing the Philippines on the world stage

Justine Malabanan representing the Philippines on the world stage

The Manila Times
22 June 2025

In a world increasingly defined by global movements, digital revolutions, and cultural exchange, some Filipinos manage to shine not through fanfare, but through quiet force. Justine Therese Malabanan is one of them.


A Harvard MBA graduate, a former brand manager at Procter & Gamble and consultant at Boston Consulting Group, and currently a senior deployment lead at a global AI startup, Malabanan has built an impressive career across continents. Yet amid the whirlwind of multinational meetings and AI innovations, she continues to hold fast to something deeply personal: her Filipino identity.

"When I'm given a project at work, I make sure to give it my best not just for myself or my family, but also because I know that I represent my country," said Malabanan. "We're a growing group of Filipinos in tech in the US, and I want to make sure that if my peers' interaction with me is one of their first with a Filipino, they remember that we're reliable teammates who show what bayanihan means."

The global track, the Filipino way

Malabanan's story is not a typical tale of international ascent. Raised in the Philippines and educated at Miriam College and Ateneo de Manila University, she rose through the ranks on the strength of her intellect, integrity, and cultural rootedness. Her achievements span various domains: business case competitions, AI deployment, radio hosting, and even intercultural arts. But at the heart of her accomplishments is a persistent drive to serve as an ambassador of Filipino excellence.

At Harvard, her Filipino perspective gave her unique contributions during classroom discussions.

"There were two cases during my MBA where I felt a strong urge to speak up," she recalled. "One was about small package sizes in Asia. The tingi culture isn't uncommon to Filipinos, especially with sari-sari stores. What some classmates saw as environmentally unsustainable, I explained as a necessity in communities where people buy only what they can afford daily."

In another case, she questioned the long-standing effects of colonization, raising the possibility that had colonized nations been allowed to develop freely, they could have achieved the same breakthroughs attributed to their colonizers.

"Both cases led to healthy debate," she added, "but more importantly, they led to broader and more empathetic mindsets."

From the Philippines to the world

Malabanan's international journey began long before Harvard. In high school and college, she wrote for Heliophon, a Los Angeles-based magazine promoting intercultural dialogue. She was also the youngest junior jock at Magic 89.9, hosting a children's show streamed worldwide. She participated in global essay contests, was active in student exchange tours, and competed in international business case competitions.

In her professional life, she has worked in consulting with Boston Consulting Group, marketing with Procter & Gamble, and now, artificial intelligence. At every stop, she's found ways to share her culture.

"I bring up the rich history of the Philippines in conversations with co-workers," she said. "I try to introduce Filipino cuisine by taking friends to restaurants in New York, or by bringing Filipino snacks to the office."

More than this, she has always focused on impact.

"Across all of my roles, it's been important to me that I can tie my work to societal good," she explained. "When I was a senior brand manager of Tide in the Philippines, I knew I was helping people stay clean and safe during the pandemic. I was also supporting local laundromats and labanderas whose livelihoods depended on access to quality products."

A mindset rooted in home

Behind her global success lies the quiet strength of a loving home. Her parents, Rex and Christa Malabanan, recall Malabanan's curiosity from a very young age.

"During her toddler years, she would browse magazines and ask about the places and people," said Christa. "There was always this eagerness to know—not just what something is, but why it is."

That spirit of inquiry, coupled with a tireless work ethic, shaped her foundation.

"She wants to do everything the best way possible. She works hard to reach her goals. And she doubles the effort if needed," Christa added.

Their parenting philosophy was deliberate but gentle: emphasize process over praise, presence over pressure. "We didn't give extreme praise for achievements," said Rex. "Instead, we celebrated hard work, passion, and dedication. We were always there — not to solve problems for her, but to guide her in solving them herself."

Staying grounded in the fast lane

Today, Malabanan finds herself at the forefront of the AI revolution, managing international accounts in a company with team members across India, the US, and the UK. Despite the fast pace and high stakes, she stays rooted by values she holds close.

"In high-pressure environments, it's easy to get blinded by competition and success," she said. "I always try to anchor myself on humility, faith, and kindness. Humility lets me stay open to learning. Faith helps me to let go and let God. Kindness reminds me to support my peers the way I'd want to be supported."

Outside of work, her life is vibrant and textured: she cooks international cuisine, sings, cycles, ice skates, and volunteers for children's organizations.

"She used to sell her artwork to relatives," her parents shared. "She enjoys the process of competing — whether it's school, work, or the arts. For her, just being in the game is already a win."

Passing the torch

Malabanan is well aware that her journey can serve as a path for others.

"Many young Filipinos dream of contributing globally but don't always know where to start," she said. "Start small. Share your passions online. Join global competitions. Learn new languages. Be a bridge for cultures."

Her advice to the next generation is both poetic and empowering: "My two favorite quotes are: 'If your dreams don't scare you, they're not big enough' and 'Life shrinks and expands in proportion to one's courage.' I hope they strive to shoot for the moon and have the courage to build the rocket ship to get there. We're not settling for the stars."

Her parents echo a message of faith and resilience for other Filipino families: "Growth in the international arena could be challenging, especially for Asian women. But Justine proved that with faith, skills, and values, you can earn the respect of the world."

"Equip your child with the right skills. Nourish them with the right values. Love them unconditionally," Christa concluded. "To champion in faith is the ultimate gift."

In a world that is loud and fast-moving, Justine Malabanan is a reminder that the quiet force of purpose, identity, and integrity can carry the Filipino voice far and wide — and make it heard by everyone everywhere.

Tuesday, 18 February 2025

UST students develop apps to detect colorectal cancer

AI To Detect Cancer? Filipino Students Develop AI-Powered App for Colorectal Cancer Risk Assessment

Medical students from the University of Santo Tomas (UST) have developed an artificial intelligence (AI)-powered application that helps doctors assess a person’s risk for colorectal cancer through a simple blood test.

Srishti Mukherjee
NewsX (India)
February 18, 2025 

Medical students from the University of Santo Tomas (UST) have developed an artificial intelligence (AI)-powered application that helps doctors assess a person’s risk for colorectal cancer through a simple blood test. This breakthrough provides a less invasive alternative to traditional colonoscopy, which many patients often avoid due to discomfort and fear.


A Non-Invasive Approach to Cancer Detection

The initiative is led by UST medical students Aamer Sultan and Austin De Asa, who aim to make early detection of colorectal cancer more accessible and less intimidating.

“Many patients fear undergoing colonoscopy. Our app aims to predict the probability of colorectal cancer based on molecular results,” said Dr. Pia Albano, the project leader from the UST College of Science.

The innovative AI-based solution was highlighted on Game Changer, a segment aired on Manila-based GMA Network’s 24 Oras.

Understanding Colorectal Cancer

According to the International Agency for Research on Cancer (IARC), colorectal cancer is the third most common cancer worldwide. In 2022, more than 1.9 million cases were diagnosed globally. It is also the second leading cause of cancer-related deaths, resulting in over 900,000 deaths per year.

In the Philippines, colorectal cancer ranked fourth among cancer-related deaths in 2022, emphasizing the need for better diagnostic tools and early detection methods.

Using MicroRNA as Cancer Biomarkers

The study focuses on six specific microRNAs (miRNAs) that have been identified as potential biomarkers for colorectal cancer in Filipino patients.

“When a person has cancer, certain miRNA levels increase while others decrease,” Sultan explained.

“Fortunately, previous research has already collected substantial clinical trial data. Our role was to integrate and train the AI model,” added De Asa.

Recognition and Future Plans

The project won the BPI Innovation Awards in 2022, recognizing its potential in revolutionizing cancer diagnostics. Moving forward, the research team plans to expand testing across multiple regions to further enhance the app’s accuracy and reliability.

UST has a history of innovation in cancer research. In 2016, UST researchers won the International Innovation Grant by the Conquer Cancer Foundation of the American Society of Clinical Oncology (ASCO) for their mobile-based cancer monitoring app, iComPass (Internet-based Computerized Patient Assessment System), designed for iOS and Android devices.

How the AI-Based App Works

The AI-powered application utilizes a blood test that undergoes a qPCR (quantitative polymerase chain reaction) analysis to measure the levels of the six miRNAs associated with colorectal cancer.

Once the test results are processed, the AI model provides an instant risk assessment at the click of a button labeled “Predict.” The app also offers an option for users to request additional data analysis for a more in-depth evaluation.

A Step Toward More Accessible Cancer Screening

This AI-powered application represents a significant step forward in colorectal cancer detection, offering a non-invasive, accurate, and user-friendly alternative to traditional screening methods. As research and testing expand, this innovation could potentially save lives by encouraging early detection and timely medical intervention.

Sunday, 16 February 2025

Filipino innovations to the world

What happens in Vegas: PH tech on global stage

Ian Raphael Lopez
Inquirer.net
16 February 2024

It can all happen in the so-called Sin City—a South Korean company suddenly wanting to order 120,000 units of adhesive and sealants, or the possibility of the water system in the city of Athens, Ohio, being enhanced with artificial intelligence (AI).

Just by being there in what has been billed as the “most powerful tech event in the world” can promising Filipino startups, along with technological innovations from government agencies and university researchers, be exposed to opportunities they never thought possible.

At the recent Consumer Electronics Show (CES) in Las Vegas, the Department of Science and Technology (DOST) brought a contingent that aimed to show the best of Filipino innovations that could solve real-world problems.


“Our goal is to showcase homegrown technologies that address global challenges, demonstrating how Philippine innovations are not only viable but also capable of providing tested and scalable solutions to industries and markets worldwide,” says Marion Ivy Decena, director of the DOST’s Technology Application and Promotion Institute (TAPI).

At the center stage of the trip to the CES last Jan. 7 to Jan. 10 are five startups, namely CHRG EV Technologies Inc., Hiraya Technology Solutions Inc., Usher Technologies Inc., Tekton Geometrix Inc. and Pili AdheSeal Inc.

CHRG showcased its Charging in Minutes or CharM, a technology for fast-charging electric vehicles; Usher brought its building structural health observation system, helpful for disaster risk reduction; and Tekton GeoMetrix presented monitoring technologies for seismology, geology and geophysics.

They were joined by delegates from Batangas State University and the DOST’s Industrial Technology Development Institute, Metals Industry Research and Development Center and Advanced Science and Technology Institute.

Sustainable sealant

One of the startup delegates was Mark Kennedy Bantugon, who in 2019 invented Pili Seal, a sealant made from the waste of the pili tree resin and geared for applications in the aviation industry. It was more sustainable than traditional sealants commercially available.

“What makes people interested in the product is its performance, and also because the natural smell of pili resin is fragrant,” Bantugon says in Filipino. “One of the usual comments [about] the product (aside from it being sustainable) is this is better; the commercial sealants smell like rubber.”

The invention bagged the James Dyson National award in the Philippines in 2021 and a slew of awards in the past years. During his postgraduate studies, he was able to develop the product into a two-in-one sealant and adhesive.

Bantugon is one of the cofounders of Pili AdheSeal Inc. As the product is being opened to different industries, they made sure that it was sustainable and could contribute to the circular economy.

“Aside from upcycling agricultural waste from the pili tree resin as our raw ingredients, after it [had been] utilized by our product, its residuals could be used into safe fertilizers. From the beginning of the process until the end life of the product, nothing goes to waste,” Bantugon explains.

The opportunity to be at the CES was an unexpected one. “Our product is not related to CES; even if I scroll through, it’s more on AI (artificial intelligence), electronic gadgets. We are far from it,” Bantugon narrates.

But all the cards fell into place, as the invention is already patented in the United States and Bantugon also happened to have a US visa. The trade show, Bantugon says, has now become more inclusive toward technologies and innovations that are not necessarily consumer-oriented.

“There has been many changes at the [CES] that it is not only an electronic-related show, but it has become a wide spectrum. It’s more on the sustainability, diversity and inclusivity of all the technologies. There I felt that I became part of this because it’s the right platform for [our product] that can address real-world issues and is aligned with the United Nations Sustainable Development Goals.”

‘Outside the box’ solutions

Similarly, Jan Russell Diolata, head of technical operations at Hiraya Technology Solutions Inc., did not imagine himself going abroad to showcase Filipino innovations. “I am so happy because, personally, I grew up from a poor family, and I did not expect that I would travel to different countries because of this, that I would have a chance to go to the United States,” he says in Filipino.

Hiraya, from an old Filipino word for “imagine,” helps its clients imagine solutions, Diolata says. Originally catering to water distribution companies, Hiraya Tech proved that its solutions and system can work anywhere regarding the supply of fluid and its distribution—may it be water, oil, gas, air, electricity or even traffic flow.

“We will go to our clients; they will tell us their problems; we will help them imagine a solution, and that solution will always be outside the box— outside the box in terms of what technologies could we bring, could we integrate to Hiraya’s systems,” Diolata narrates.

At their centerpiece is AI-powered Hiraya Intelligent Modular Optimization or HIMO, which was derived from the Cebuano word for “make.” It is a semiautonomous system that could help power and optimize fluid distribution. “So what Hiraya could imagine, it will be HIMO that would carry it out.”

Many water distribution systems in different cities and municipalities in the Philippines now use Hiraya’s technology. Diolata observes that losses from nonrevenue water, or water that is lost en route to the consumers due to leaks or other reasons, could be tackled through HIMO. It can also lessen energy consumption, push water supply to previously hard-to-reach areas and protect water companies from pilferage.

At the CES, Hiraya’s technology was unique from those on offer, and that says a lot about Filipino ingenuity in solving problems, Diolata notes. “We are at par with other countries. Most of the other applications of AI (at the trade show) are more descriptive; it would suggest possible solutions, but it will still rest on an individual on what they would adjust in their system.”

“But Hiraya is more on autonomous control. It would be the one to come up with [how a system should operate]. It will predict and it will operate itself, then it will study the output of the operation to see what it could still improve on. It is self-learning. I did not see anything like that except in cars,” he explains.

‘Tremendous opportunity’

These innovations may seem out of place at a consumer-oriented show such as CES, but the DOST sees it as a distinguishing point. “The DOST Philippines [delegation] distinguished itself through the presentation of unique technologies and innovations designed to address its own challenges and potentially offer solutions to other nations facing similar challenges,” says TAPI’s Decena.

More importantly, Decena adds, it was a tremendous opportunity for these startups to expand. “By leveraging the exposure, networking opportunities and feedback, they can accelerate their growth and achieve international recognition and success.”

And expand they did, based on high-value leads gained from the CES experience. Pili Adheseal’s Bantugon got that bulk order from a South Korean battery innovation company of 100,000 units for 2025 and additional 120,000 in 2026. Bantugon will return to New York soon to meet with another client.

“Even as an ‘unexpected’ delegate, I did not expect because my mindset was, ‘This is an electronic technology show, people would not flock to my booth.’ But surprisingly … our product had many inquiries. That’s when I realized that people today, business and companies, they’re all into sustainability.”

For Hiraya, there’s the potential of its solution being used by the water system in Athens, Ohio. Its leaders just finished follow-up meetings on this project and are in talks for potential partnerships with other local executives under the US National League of Cities.

“The Philippines is an archipelago. We are surrounded by bodies of water but not everyone has access to water. If we were able to solve problems here in our country using our AI software, what more in other countries that may only have small things to improve (in their water management systems) but there would still be a large impact if they use our system?” Diolata asks.

The trade show opened the doors for collaboration with global companies.

Science and Technology Secretary Renato Solidum, for instance, met with Karan Bhatia, head of government affairs and public policy at Google. Aside from capacity-building initiatives involving AI, Google discussed applicable technologies, such as pothole detection that could work with infrastructure projects, or hazard finder and disaster recovery tools that are handy in times of natural disasters.

“Both parties recognized opportunities for joint ventures to address real-world challenges through innovative solutions,” Decena comments.

Thursday, 30 January 2025

PH poised to become the next SEA tech center

Emerging startup trends in the Philippines

Paulo Campos, Raya Buensuceso
Inquirer.net
30 January 2025

The Philippines has emerged as Southeast Asia’s most exciting startup ecosystem in recent years, poised to become the next regional tech center after Singapore and Indonesia. At Kaya Founders, our investment strategy particularly centers on three key trends that encapsulate why the Philippines is an exciting market today: frictionless business enabled by artificial intelligence (AI)-powered platforms, the rise of tech-enabled consumer ventures, and the transformative power of embedded credit.


Frictionless business: AI-powered platforms reshaping industries. The adoption of AI-driven solutions is rapidly transforming the country’s largest industries. A generational shift in business leadership has ushered in digitally native leaders who are embracing AI to streamline processes in areas such as customer service, content creation, and supply chain management.

This trend positions the Philippines as fertile ground for AI-powered business-to-business platforms. Startups that leverage AI to drive efficiency and productivity, particularly in sectors like health care, commerce, and financial services, are poised to enhance traditional operations and unlock growth.

Two of Kaya Founders’ best-known portfolio companies are Etaily and Local, which both enable businesses, retailers, and merchants to more efficiently and effectively sell their products online across the different channels and marketplaces in the Philippines and across Southeast Asia.

Tech-enabled consumer ventures: Harnessing an emerging middle class. With household consumption representing 71.6 percent of GDP—significantly higher than the regional average of 55 to 60 percent—the Philippines is undeniably a consumer-driven economy. Yet, unlocking this potential requires a nuanced understanding of a diverse and evolving consumer base.

Two segments dominate this rising middle class: “power users” who prioritize convenience and are willing to spend on experiences and “value-focused users” who are driven by discounts. These dynamics have fueled the rise of digital shopping models like live and social commerce, where startups are reshaping how consumers discover, engage with, and purchase products.

Despite challenges in payment infrastructure and logistics, the opportunity to deliver affordable yet aspirational products through seamless digital platforms is immense, particularly for younger, digital-savvy consumers.

Embedded credit: Closing the financing gap. Within the realm of fintech, perhaps the most compelling opportunity lies in embedded credit. According to the recently published Google, Bain, and Temasek’s e-Conomy report, lending drove 22 percent of the revenue of digital financial services across Southeast Asia last year, growing annually at a rate of 35 percent. Yet the credit gap in the Philippines remains vast—estimated at $221 billion for micro, small, and medium enterprises, the largest in the world as a share of GDP by some measures and affecting three-fourths of Filipino adults without formal credit access.

Embedded finance models are addressing these gaps by integrating lending into everyday platforms, making access to credit more convenient and contextually relevant. Startups like OneLot and Netbank are at the forefront of this transformation. OneLot has enhanced dealer onboarding and introduced flexible loan products, while Netbank’s Banking-as-a-Service solutions integrate digital banking into supply chains and salary payments.

A maturing ecosystem. Venture capital funding in Southeast Asia has surged, with $72 billion deployed in the past five years—three times the volume of the preceding half decade. Yet, what makes this moment particularly exciting is the shift toward capital efficiency and profitability.

The Philippines, in particular, has emerged as a beacon of opportunity, bucking global trends of declining late-stage funding. Institutional investors and development finance institutions such as Asian Development Bank, International Finance Corp., Texas Pacific Group, Kohlberg Kravis Roberts, and a range of others have made late-stage investments in the country. Meanwhile, a growing pool of credible, experienced founders is fueling momentum in the early-stage segment.

The fundamentals of the Philippine market resemble the early growth trajectory of Indonesia’s and Singapore’s tech ecosystems. As digital adoption expands from early adopters to widespread use, the impact on the broader economy will only deepen.

Unlocking the Philippines’ potential. The Philippines’ tech ecosystem is at an unprecedented inflection point, but unlocking its full potential will require a concerted effort across stakeholders. Entrepreneurs, investors, and other business leaders must work together to address infrastructure challenges, build talent pipelines, and scale solutions that meet the needs of businesses and consumers alike.

At Kaya, we remain committed to identifying and supporting the next wave of Philippine startups poised to transform industries and revolutionize the economy and country in the future.

Thursday, 21 November 2024

Filipinos lead in generative AI adoption at work - Jobstreet

Filipinos lead in generative AI adoption at work, report shows

Alden Monzon
Cebu Daily News
21 November 2024

Nearly half (46%) of surveyed Filipinos use generative AI at work monthly, slightly above the global average, according to a Wednesday report by Jobstreet.

The data comes from the Decoding Global Talent Report 2024 by SEEK, which surveyed 150,000 people worldwide, including over 6,400 Filipinos.


“Through proper reskilling and upskilling with proper training, AI can serve as a reliable tool in bettering the way companies and organizations process their output, as well as improving efficiency among talent,” said Jobstreet Philippines managing director Dannah Majarocon.

The poll, conducted in the fourth quarter, covered employees from various industry backgrounds, educational attainment and age groups.

Jobstreet said that the global average was 39 percent, adding that Filipino employees aged 18 to 24 years old were twice as likely to use generative AI compared with other age groups.

Of the total AI users, 50 percent said they employed generative AI for writing tasks, while 58 percent cited skill development and learning as the main use of this emerging technology.

Among industries, those who work in digitalization and data sciences used it most frequently, at 71 percent, followed by those in information technology at 65 percent.

The report also found that 82 percent of Filipinos believe that AI would change some aspects of their work, with 35 percent anticipating a major impact that could eliminate or significantly transform their career.

Filipino talents in craft or physical work roles are the most concerned with the impact of AI, with 56 percent expecting significant changes to their roles, according to Jobstreet.

Those working in technical or engineering fields are the least concerned, with 28 percent to 30 percent of the respondents believing that their jobs will remain unaffected.

Despite the concerns, Jobstreet said that over 70 percent of talents are willing to reskill to stay relevant in the age of AI, with 24 percent considering reskilling only when absolutely necessary. This is in contrast with global trends, where employees are less inclined to reskill when facing significant job challenges. INQ

Monday, 27 May 2024

PH leads world in workers using AI: Microsoft Philippines

PH leads world in workers using AI: Microsoft Philippines

Arthur Fuentes
ABS-CBN News
Published May 27, 2024 

MANILA - The Philippines leads the world in terms of knowledge workers adopting generative artificial intelligence, Microsoft Philippines said citing the results of its 2024 Work Trend Index, which was conducted together with LinkedIn. 

Atul Harkisanka (L) LinkedIn's Head of Growth Markets and Country Lead for the Philippines, and Peter Maquera, Microsoft Philippines CEO present the 2024 Work Trend Index which shows the Philippines leading in terms of knowledge worker adoption of generative AI at the Microsoft headquarters in Makati, Philippines on May 23, 2024. Arthur Fuentes, ABS-CBN News

According to Microsoft, 86 percent of knowledge workers in the Philippines use AI at work. This is higher than the global average of 75 percent and the regional average of 83 percent.

“In terms of the workforce, our 2024 Work Trend Index shows Filipino employees are leading not just Asia, but the world, in leveraging AI to help boost productivity, efficiency and creativity, said Microsoft Philippines CEO Peter Maquera.  

Philippine companies however are not as quick to adopt the technology, leading around 83 percent of Filipino AI users to bring their own AI to work. 

Microsoft said this “poses privacy, security, and legal risks to companies.”

Maquera however said the pace of adoption of AI in the Philippines is “very promising” with "conglomerates" racing to deploy the technology in their systems.

Aside from banks and telcos, which led the way in bringing AI into their systems, other sectors such as retail, manufacturing, airlines, transport and logistics are also looking to deploy AI. 

“In the Philippines, the conglomerates are all racing,” Maquera said during a briefing with tech journalists at the company's country headquarters in Makati.

CAUTION VS OVER-REGULATING AI

Maquera said the software giant supports government regulation of artificial intelligence, but also cautions against the possible over-regulation of the new technology.  

“We are in favor of regulation,” Maquera said. 

A bill has been filed in Congress pushing for the creation of the Artificial Intelligence Development Authority (AIDA) under House Bill 7396 or the “Artificial Intelligence Development and Regulation Act of the Philippines”.

Govt agencies back creation of body to develop, regulate AI

Solon files bill seeking to regulate AI over labor replacement concerns

Several government agencies, including the Interior, Education and Justice departments said they back the creation of an AI regulator. 

An earlier bill meanwhile was filed seeking to “prohibit the replacement of human workers, displacement, loss of security of tenure, or diminution of existing salaries and/or benefits because of the adoption and use of AI and automation technologies.”

Maquera said AI developers should ensure that the technology is safe, secure, and trustworthy. But the Microsoft official also said government regulation of AI needs to be “balanced.”

“Because you don't want to over-regulate so that you stifle innovation,” Maquera said.

He said the company sees that there are already “a lot of laws in place around privacy, around cybersecurity, around copyrights.”

“Our responsibility is to be absolutely committed to AI being safe for everyone,” said Josh Aquino, Microsoft Philippines head of communication. 

Advocacy groups have been warning about the possible ‘bias’ in AI systems which may generate results that are prejudiced against certain groups of people. Cybersecurity professionals meanwhile are concerned over the use of AI in scams and in misinformation.

Wednesday, 22 May 2024

Marcos wants Philippines to become hub for smart manufacturing

Marcos wants Philippines to become hub for smart manufacturing

Louella Desiderio, Alexis Romero 
The Philippine Star
May 22, 2024

MANILA, Philippines — The Philippines is counting on its strengths and engagements to transform its economy into a regional hub for smart and sustainable manufacturing and services, President Marcos said, as he urged investors to unlock the growth opportunities offered by the country’s “thriving” economy.


In his keynote remarks during the Indo-Pacific Business Forum in Taguig City, Marcos said the Philippines occupies a “strategic position” in the region and is leveraging its geopolitical location, economic engagements and participation in regional agreements.

He noted that the Indo-Pacific region accounts for over a third of global economic activity, a condition that he said presents “immense opportunities” for the Philippines.

The President described the Philippines’ economic achievements as “outstanding,” citing the Philippines’ 5.5 percent GDP growth last year, which surpassed major economies in Asia and the four consecutive months of expansion of its foreign direct investments (FDIs).

“Through these economic strengths, we aspire to transform the Philippine economy into a regional hub for smart and sustainable manufacturing and (services),” he said.

The Chief Executive reiterated the importance of forging partnerships, saying Indo-Pacific Economic Forum partner-countries play a key role in the Philippines’ robust economic growth and contribute substantially to its FDI and other approved investments.

Indo-Pacific investors have the potential to contribute significantly to the expansion of micro, small and medium enterprises, which contribute the bulk of the employment in the country, according to Marcos.

Luzon Economic Corridor

Marcos went on to enumerate measures and collaborations that are seen to make the Philippines a more attractive investment destination.

He mentioned the Luzon Economic Corridor, a project launched during last month’s historic trilateral summit in Washington.

He said the government has earmarked key projects to spur growth in the corridor and to create strategic connections between Subic, Clark and the Calabarzon region, which he called “a prime location for export-manufacturing firms.”

“These initiatives will enhance freight transport services, mobility and access to key economic zones, ensuring business continuity and positioning the Philippines as a regional hub for agribusiness and logistics in the Asia-Pacific,” he added.

The President likewise highlighted the legislation that allows 100 percent foreign ownership of renewable energy sources; efforts to develop priority industries like electronics, semiconductors and critical minerals and the government-led strategy to enhance digital infrastructure, connectivity and business facilitation.

“The Philippines also offers a strategic location with a robust experience and record in the IT-BPM (information technology-business process management) competencies and a strong direction towards upgrading business process outsourcing into knowledge process outsourcing such as market intelligence, business analytics, legal services and AI (artificial intelligence), amongst others,” he said.

“Furthermore, the Philippines can serve as a platform for companies to access the more than 600-million-strong Southeast Asian consumer market. Our proximity to these growing economies can allow them to enter other supply chains and be part of inter-country economic systems, creating more opportunities for collaboration and for partnership,” he added.

Marcos expressed optimism that the Build Better More infrastructure program, which encompasses 185 priority projects worth P9.5 trillion, will transform the Philippines’ infrastructure landscape and contribute to its goal to be the next logistics hub in Asia.

“But achieving this requires a whole-of-nation approach, particularly private investments. Therefore, we invite foreign investors to participate in this endeavor through public-private partnerships, engineering, procurement and construction contracts, and for feasibility studies, as well,” he said.

The President also talked about laws and policies aimed at luring more investors, including the Public-Private Partnership Code, which he said has accelerated the delivery of critical projects; the Maharlika Investment Fund, the sovereign wealth fund that seeks to support critical infrastructure projects; the Corporate Recovery and Tax Incentives for Enterprises or CREATE Act; the Ease of Doing Business Act and the executive order on green lanes for strategic investments.

“Upcoming in the pipeline is the CREATE More Act, which represents a significant leap forward as we expand and refine the incentives introduced under the original CREATE Act. Through this, we are making the Philippines even more attractive for investments, both local and foreign,” he said. — Sheila Crisostomo

Saturday, 18 May 2024

Filipinos among the most interested in AI globally

Tech giant reports Philippines among top countries interested in AI

Story by Jeline Malasig
Interaksiyon
17 May 2024

Data from a tech giant revealed that Filipinos are among the most interested in artificial intelligence (AI) technology globally.

Google Trends said that the Southeast Asian country ranks third when it comes to searches for AI-related topics across the world.

China and Ethiopia ranked first and second, respectively, surpassing the Philippines.



Google Trends said that Manila’s high ranking in terms of search interest around AI reflected the country’s growing technological awareness, economic aspirations, educational initiatives, government support and the global trend toward AI adoption.

Google Trends provides data on topics that people from a certain country or area are searching almost in real time.

The data is measured by recording how many times a particular keyword is searched for compared to other terms within a certain period.

Meanwhile, one of the AI tools that are widely available is Gemini, Google’s AI chatbot.

It is a versatile AI assistant capable of handling various tasks such as writing, planning, learning, and generating content such as images.

Gemini has a free version for everyone, and a paid version called Gemini Pro, which has advanced features.

While AI has only recently gained buzz, it has been around for years as people continue to embrace technology.

For example, Siri and Google voice assistants are considered products of AI technology since they enable users to perform different tasks on their smartphones through voice intelligence.

Automatic photo tagging in Apple and Google smartphones also harnesses the tool of AI for their image recognition features.

Predictive texts likewise function like AI since they offer writing and grammar assistance to users through automated intelligence.

Monday, 29 April 2024

PHL on radar for Taiwan startups

PHL on radar for Taiwan startups

BusinessWorld
April 29, 2024 

THE Philippines and other Southeast Asian markets are being targeted by startups from Taiwan for expansion, according to the head of Taiwan’s startup branding organization.


Amanda Liu, founder and managing director of Startup Island TAIWAN, said Taiwan startups are now looking for other markets apart from the US and China.

“There is a need to have a second market… And I think Southeast Asia is likely the most (viable) option for Taiwan startups,” Ms. Liu told reporters last week.

Asked what makes the Philippines attractive, she said: “I think one of the important points is that the Philippines has a very good English base.”

“So when they bring or introduce any applications to the Philippines, it’s very easy to implement these applications because there are no language barriers. With no language barriers, it will be easy to communicate with Filipinos,” she added.

Last week, Startup Island organized the Taiwan-Philippines Tech Summit, during which it brought 15 Taiwan startups to the Philippines.

“This is our first time to explore more cooperation here. We invited many mature Taiwanese startups to come here, like FUNNOW Group, and I think they are mature enough to develop their market and have a chance to merge or explore deeper cooperation with Philippine startups,” Ms. Liu said.

She said Taiwan startups are interested in consumer experience and digital transformation ventures, noting that digital transformation will play a huge part in any market, be it in agriculture or other industries.

“I think almost all industries need to do digital transformation, and although Taiwan has a technological advantage, they need to find partners to implement this kind of solution,” she said.

“One of the hot topics is artificial intelligence (AI). But we know that AI is just an application; AI needs to be implemented with others to make something better, smoother, or more efficient,” she added.

Asked for her views on growing the startup ecosystem in the Philippines, she said that partnering with other countries and more government support will play a big part.

“I think the Philippines is booming now; it is at the starting point. And that is why we are here; since you are at the starting point, you can leverage other countries’ ability to empower your startup ecosystem,” she said.

“And based on our experience in Taiwan, startups always need funding and educational support. There is a need to encourage people to do startups and emphasize an entrepreneur mindset,” she added. — Justine Irish D. Tabile