TL;DR:
- The Philippines must embrace the use of AI in international trade to remain competitive in the global market.
- Harmonized regulations are needed for the wider adoption of AI in the country.
- The current lack of unified rules has resulted in the Philippines being left behind in the integration of AI in international trade.
- The integration of AI in decision-making, pricing, and purchasing will become increasingly important in the seamless integration of AI in international trade.
- Although there may be opposition to the adoption of technology, it is essential for the country and its people to prepare for its adoption, as technology will always win in the end.
- AI may replace some jobs that become redundant, but it also opens up new opportunities for humans to focus on.
- Farmers must take advantage of technology and AI, and the government should remove any barriers to investment in the sector.
- By directly marketing their produce, farmers can increase their transactions and earnings.
- The faster the frequency of transactions, the more trade will be made, benefiting both farmers and the country as a whole.
Main AI News:
The Philippines must stay ahead of the curve and embrace the use of Artificial Intelligence (AI) in international trade to ensure its competitiveness in the global market. This was the message delivered by TradeAdvisor CEO Anthony Amunategui Abad during a recent forum organized by the British Chamber of Commerce and Industry in Makati. Abad, who is also a panelist in the World Trade Organization’s dispute settlement body, emphasized the need for harmonized regulations for the wider adoption of AI in the country.
According to Abad, the current lack of unified rules in different countries has resulted in the Philippines being left behind in the integration of AI in international trade. Harmonized regulations will enable the country to participate in AI-facilitated international trade, making it easier for Filipino exporters to conduct business. He added that the integration of AI in decision-making, pricing, and purchasing would become increasingly important in the seamless integration of AI in international trade.
While there may be opposition to the adoption of technology, as seen in England with the resistance to weaving machines, Abad emphasized that technology will always win in the end, and it is essential for the country and its people to prepare for its adoption. The sooner the Philippines accepts and adjusts to AI, the sooner it can take advantage of the benefits it presents. Abad acknowledged that AI might replace some jobs that become redundant, but it also opens up new opportunities for humans to focus on.
In agriculture, Abad believes that farmers must take advantage of technology and AI, and the government should remove any barriers to investment in the sector. By directly marketing their produce, farmers can increase their transactions and earnings, closing the gap between farmers and the market. The more direct the connection to the farmer, the greater the chance they will become wealthy, according to Abad. He added that the faster the frequency of transactions, the more trade will be made, benefiting both the farmers and the country as a whole.
Conlcusion:
The adoption of AI in international trade is crucial for the Philippines’ competitiveness in the global market. Harmonized regulations are necessary to enable the country to participate in AI-facilitated international trade, making it easier for Filipino exporters to conduct business. Although there may be opposition to the adoption of technology, it is essential for the country and its people to prepare for its adoption. The integration of AI in decision-making, pricing, and purchasing will become increasingly important in the seamless integration of AI in international trade.
In agriculture, farmers must take advantage of technology and AI, and the government should remove any barriers to investment in the sector. By directly marketing their produce, farmers can increase their transactions and earnings, closing the gap between farmers and the market. The adoption of AI in the Philippines presents both opportunities and challenges, and it is up to the country and its people to take advantage of the benefits it presents.
