THE Philippine digital economy’s revenue is projected to grow to the equivalent of 12% of gross domestic product (GDP) by 2030, as artificial intelligence (AI) becomes more widely adopted by the business process outsourcing industry.
In a virtual forum hosted by Digital Pilipinas on Thursday, Trade Undersecretary Rafaelita M. Aldaba said the sector generated $17 billion in revenue in 2021, which is projected to increase to $25 billion by 2025, and then $92 billion by 2030.
“Many Filipino startups were able to quickly pivot to new activities and the use of new technology. They provided solutions to help the government address issues encountered during the pandemic. The acceleration of digital transformation paved the way for the growth of the digital economy,” Ms. Aldaba said.
The Trade department said in May that the National AI Strategy will help companies with their digital transformation.
The roadmap leans on AI to maintain or enhance many industries’ competitiveness and to encourage foreign investors to open operations in the country, she said.
There are 50 tech startups in the country that have adopted AI, in industries like financial technology, e-commerce, and digital health.
Ms. Aldaba said one area the roadmap focuses on is building a center for AI research through public-private partnerships. It will serve as a hub for scientists and researchers to seek to apply AI to precision agriculture, healthcare, and smart cities, among others.
“Investments in new technology, digitalization, and innovation are also investments in resilience, sustainability, competitiveness, and long-term business growth, which are all necessary as we enter our economic recovery,” she said.
Digital Pilipinas is the country’s largest private sector-led movement that aims to create a tech ecosystem for the Philippines. — Marielle C. Lucenio