By The Financial District
Nov 16, 20233 min
Silicon Valley firms have expressed their intent to collaborate with the administration of President Ferdinand R. Marcos Jr. on artificial intelligence (AI) and cybersecurity.
Acknowledging the Philippines' lack of trained talent in blockchain technology, Marcos stated that his administration is focusing on upskilling and reskilling Filipino workers to meet the growing demand and advancements in AI and cybersecurity.
This comes after Marcos held a roundtable meeting with technology companies and venture capitalists in San Francisco, California.
Acknowledging the Philippines' lack of trained talent in blockchain technology, Marcos stated that his administration is focusing on upskilling and reskilling Filipino workers to meet the growing demand and advancements in AI and cybersecurity.
“We don't have enough engineers. That simple. So, we need to get them trained, we need to get them... as part of the system,” Marcos said.
“And so again, we have really put a great deal of emphasis on retraining. These are new technologies. The principle that we apply is really rather simple. It’s that basically Covid changed everything and after COVID, we have to transform the economy, and technology is going to bring the changes.”
NightDragon Chief Executive Officer (CEO) David Dewalt said his company and other technology firms in the roundtable discussion are looking forward to bringing all technologies, particularly generative AI, to the Philippines.
Dewalt stated that the planned investments would be beneficial to the Philippines, considering its "young and powerful" workforce. NightDragon is a leading venture capital firm for cybersecurity, security, safety, and privacy.
“The way I would say it is the Filipinos have an unbelievable ability to integrate in the global business systems like we do, maybe unmatched by any workforce on the planet,” Dewalt said.
Visa CEO Ryan McInerney said generative AI will be a leveling force for small businesses, noting that Filipinos now use the largest platforms to buy things online.
He mentioned that generative AI will give microbusinesses, nano businesses, and small businesses the tools and capabilities to provide Filipinos with a “rich” shopping and commerce experience.
"Ready for AI"
Marcos stressed the need for capability improvements, acknowledging the vulnerability of both the government and private sector to cybersecurity threats. He stated that the Philippines is ready to become a partner in navigating the AI future.
“The Philippines is ready to become your partner in navigating the AI future. As we look to the horizon, let's 'Make It Happen in the Philippines,' where the promise of a future defined by technological inclusivity and shared growth is not just envisioned but actively realized,” Marcos said.
“Currently, the Philippines is embracing this future of AI with the crafting of the National AI Strategy that seeks to augment the existing skill set of Filipino talents with AI. This strategy also aims to position the Philippines as a Center of Excellence in Artificial Intelligence,” he added.
Marcos mentioned that the gathering with the businessmen is a momentous occasion as the Philippine economy celebrates a milestone, marking its highest growth rate since 1976 with a 7.6-percent increase in the country’s gross domestic product in 2022.
He assured foreign investors of easier business transactions in the Philippines, noting the fiscal incentives and ease of doing business in the country.
“To our current and future partners, I hope that this meeting will serve as an opportunity to create a shared vision for a future where the Philippine workforce is empowered, skilled, and ready to shape the digital age,” he said.
“The roundtable meeting was co-organized by Dewalt, Bain and Company CEO Emmanuel Maceda, Crescent Point Group vice chairperson Thomas Pompidou, and the Department of Trade and Industry.
Also present during the meeting were Microsoft Managing Director Michelle Gonzalez, Mandiant (A Google Company) CEO Kevin Mandia, Group of the Government of Singapore Investment Corporation (GIC) Head Chris Emanuel, Plug and Play Ventures CEO Saeed Amidi, Altimeter CEO Brad Gerstner, HP (formerly Hewlett-Packard) CEO Enrique Lores, Mastercard Co-President Ling Hai, and Anthropic CEO Dario Amodei.”