AI Summit PH 2023 highlights: Leveraging the power of blockchain and AI

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The Philippines is catching up with the developments in the global tech landscape, and one surefire way to introduce emerging technologies to Filipinos is through conferences.

The AI Summit PH 2023 organized by Aboitiz Equity Ventures Inc. (NASDAQ: ABTZY) is only among a handful of forums that were held in the Philippines to engage government leaders, industry experts, the private sector, and the general public on matters concerning emerging technologies, particularly blockchain and artificial intelligence (AI), both of which are gathering steam in the country.

The Summit, which took place at the Grand Marriott Ballroom in Pasay City on May 10-11, was packed with guests from various industries willing to learn more about blockchain and AI.

“This is absolutely super exciting…to get the buzzing scene,” Aboitiz Data Innovation CEO David Hardoon told CoinGeek.

Hardoon is among the firm believers that AI, amid fears surrounding the advanced technology, would help tap into the potential of the Philippines and, combined with utilizing blockchain tech, support the country’s ambition to become a hub for companies immersed in emerging technologies.

“The whole objective here is what are the ingredients, what is the formula.. what you, me, companies need to do to make it real, to benefit from AI,” said Hardoon, who is also UnionBank of the Philippines’ Group Chief Data and AI Officer.

While possibilities are endless, AI and Innovation Center of Excellence Head at Aboitiz Data Innovation Dr. Adrienne Heinrich cautioned that despite advancements in AI, the technology has its downsides, which governments and enterprises should be wary about.

AI is big on data, and pairing it with blockchain tech may build accountability and address concerns regarding privacy and security, noted Hardoon.

This would benefit the Philippines, which has started rolling out its National ID system.

“For us, I think a very interesting experiment is to start using blockchain…you are not who you claim to be or wish to be,” said Guy Sheppard, COO of Financial Services at Aboitiz Data Innovation.

Meanwhile, Rafael Fernandez De Mesa, president of Lima Land Inc. and Cebu Industrial Park Developers, stressed that educating the masses about AI and blockchain is still the key that would help the Philippines realize the potential of these technologies.

“AI is here to stay; there’s still a lot to be learned.. to make the Philippines an attractive destination,” he said.

Watch: Don’t be surprised if the Philippines becomes the global blockchain hub