In the short time that artificial intelligence, generative AI, has become widely available to the public, the technology has proven to be a game-changer with its multitude of applications for industry.
Artificial intelligence and automation platforms are estimated to be already in use by around 50 percent of organizations worldwide, according to a 2022 study by the United Nations Educational Scientific and Cultural Organization.
The same study also shows that more than two-thirds of organizations across the globe plan to increase their AI investment over the next three years.
In the Philippines, generative AI can potentially unlock $79.3 billion of productive capacity by 2030, the equivalent of 20% of the country’s GDP in 2022, according to a report by Access Partnership and the Analytics Association of the Philippines this year.
Meanwhile, The Contact Center Association of the Philippines (CCAP) believes that generative AI and automation enhance the business processing outsourcing industry’s services and improve them significantly.
“Generative AI can be used to automate and enhance various aspects of customer interactions. Some examples are chatbots and virtual assistants. These are automated email responses for faster adaptability,” CCAP President Mickey Ocampo said.
There is, however, growing concern within the Philippine government that while AI may be a boom to some sectors, it will also be a bane to the local job market. A study by Oxford Economics and US-based digital technology company Cisco said the Philippines will lose at least 1.1 million jobs by 2028.
“AI is developing faster than most people can comprehend and is threatening to take away jobs and turn employment growth upside down,” said Philippine Senator Imee Marcos, who is among the country’s staunchest advocates for AI regulation.
The senator called for upskilling and special training for workers in affected industries to address the issue. She also said Congress must formulate regulatory measures to prevent severe unemployment and make necessary amendments to the Intellectual Property Code, Revised Penal Code, and Cybercrime Prevention Act.
