TL;DR:
- AI Summit PH 2023, organized by Aboitiz Equity Ventures Inc., was held in Pasay City on May 10-11.
- The summit focused on the potential of emerging technologies like blockchain and AI.
- Key industry leaders, government officials, and experts participated in the event.
- AI, coupled with blockchain, can help unlock the Philippines’ potential in emerging technologies.
- Data privacy and security are essential considerations when leveraging AI and blockchain.
- The Philippines’ National ID system can benefit from the integration of blockchain technology.
- Education and awareness about AI and blockchain are crucial for the country’s growth in these areas.
Main AI News:
The growth of the tech landscape in the Philippines has been remarkable, and one of the most effective ways to introduce emerging technologies to the Filipino people is through conferences. A prime example of this is the AI Summit PH 2023, a prestigious event organized by Aboitiz Equity Ventures Inc. (NASDAQ: ABTZY), which serves as a platform for government leaders, industry experts, the private sector, and the general public to delve into the realm of emerging technologies, specifically blockchain and artificial intelligence (AI), both of which are gaining significant traction in the country.
The Summit, held at the esteemed Grand Marriott Ballroom in Pasay City on May 10-11, witnessed a vibrant gathering of professionals from diverse industries, all eager to expand their knowledge on the potential of blockchain and AI. “This is absolutely super exciting…to get the buzzing scene,” expressed Aboitiz Data Innovation CEO David Hardoon in an interview with CoinGeek.
Hardoon firmly believes that AI, despite the apprehensions surrounding its advanced capabilities, can unlock the Philippines’ potential and, when combined with the utilization of blockchain technology, support the country’s aspiration to become a hub for companies deeply immersed in emerging technologies. “The whole objective here is to determine the necessary ingredients and formula – what you, me, and companies need to do in order to make it real and reap the benefits of AI,” stated Hardoon, who also serves as UnionBank of the Philippines’ Group Chief Data and AI Officer.
While the possibilities seem endless, Dr. Adrienne Heinrich, the AI and Innovation Center of Excellence Head at Aboitiz Data Innovation, cautioned that despite the progress made in AI, the technology also has its downsides, which should not be overlooked by governments and enterprises. Acknowledging this concern, Hardoon emphasized the importance of data in AI and the potential of pairing it with blockchain technology to foster accountability and address issues related to privacy and security.
The application of blockchain in the Philippines holds immense potential, especially with the implementation of the National ID system. “For us, I think a very interesting experiment is to start using blockchain… to ensure that you are not merely who you claim to be or wish to be,” shared Guy Sheppard, the COO of Financial Services at Aboitiz Data Innovation.
In light of these developments, Rafael Fernandez De Mesa, the president of Lima Land Inc. and Cebu Industrial Park Developers, stressed the significance of educating the masses about AI and blockchain, as it remains the key to fully harnessing the potential of these technologies. “AI is here to stay; there is still a lot to be learned… in order to make the Philippines an attractive destination,” he emphasized.
Conclusion:
The AI Summit PH 2023 was a significant event that brought together key stakeholders to discuss and explore the convergence of blockchain and AI in the Philippines. With the country’s growing tech landscape, leveraging these emerging technologies can unlock new opportunities and position the Philippines as a hub for innovation. However, careful attention must be given to data privacy and security concerns. By integrating blockchain into initiatives like the National ID system, the Philippines can establish trust and accountability. Education and awareness initiatives are vital to ensure the country fully harnesses the potential of AI and blockchain, making it an attractive destination for future advancements.
