In recent years, artificial intelligence (AI) has infused every industry and is now a subject of discussion in the public. Artificial intelligence is being considered by businesses of all sizes to solve real-world business problems.
Implementing machine learning and AI will have a significant impact on the efficiency of any organisation. Intelligent systems can help reduce the risk of human errors by automating a large amount of work. Systems will learn and become smarter over time, and it will produce better results for the organisation.
Institutions, both public and private, in the Philippines still need a thorough understanding of what Artificial Intelligence (AI) really is, and its value to their operations before making any technology-related decisions.
As per the report of a leading artificial intelligence solutions and services company in the Philippines, there is still a lack of comprehension on more complex aspects of AI, which could impact how organisations move forward in the digital transformation journey. This is despite the rapid digital transformation that organisations have undergone in recent years.
While about 66% of the respondents identified their company as digital-by-nature, many of the respondents still said they are not too knowledgeable of AI regardless of if they consider their company to be digital or not. Most of the respondents also come from companies involved in finance and insurance. In this case, a lack of deeper AI understanding should not deter organisations from trying out AI initiatives if they think that it can improve the company’s operations or increase ROI.
The report also included a framework to assist organisations in launching a successful AI initiative. Organisations must consider three factors: human resources, business value, and management. Moreover, organisations can choose whether to have an in-house team, outsource, or invest in a hybrid model in which their in-house team can benefit from technical expertise provided by outsourced talent.
The leading AI company combines nearly three decades of academic research with deep industry experience to create cutting-edge AI projects with meaningful impact, motivated by a desire to empower humans and organisations to work efficiently with AI.
The central tenet of AI is to replicate—and then outperform—human perception and reaction to the world. It is quickly becoming the foundation of innovation. Powered by different types of machine learning that recognise patterns in data to make predictions, AI can add value to business by:
- Providing a more in-depth understanding of the vast amount of data available.
- Relying on predictions to automate overly complex or mundane tasks.
Before rolling out a small proof of concept project to see if an AI solution is worth investing in, the CEO of the AI company suggested that organisations investigate use cases and determine their success criteria as a guide for comparing the success of an AI initiative.
OpenGov Asia reported that the Philippines’s Department of Trade and Industry (DTI) launched the national artificial intelligence (AI) roadmap which made the Philippines one of the first 50 countries in the world to have a national strategy and policy on AI.
The DTI said that AI adoption can increase Philippine gross domestic product (GDP) by 12% by 2030, or equivalent to US$92 billion based on research estimates. The agency added that the AI roadmap aims to accelerate the adoption and utilisation of AI in the country to advance industrial development, generate better quality entrepreneurship, and higher-paying opportunities for Filipinos. Through the AI roadmap, they hope to establish the Philippines as an AI Centre for Excellence in the region that is backed by a local talent pool and vibrant innovation and entrepreneurship ecosystem.
To ensure a successful AI initiative rollout, all stakeholders must give their full support. Whether the initiators choose a top-down or bottom-up approach, every department involved in the project should be properly onboarded to gain a better understanding of the initiative and solution.
The primary goal of artificial intelligence is to make humans’ lives easier. While the level of AI improves, so does its competency, allowing it to handle more complex tasks for humans. AI can also serve as a catalyst for scientific and technological advancement.
