ARTIFICIAL INTELLIGENCE (AI) has been adopted by 75% of businesses worldwide, IDC Research, Inc. and Microsoft said in a report.
“AI’s reach is expanding into every corner of the economy, and in the Philippines,” Peter D. Maquera, chief executive officer of Microsoft Philippines, said in a statement on Tuesday in the wake of the release of the IDC X Microsoft Business Opportunity of AI report.
“Generative AI is changing the way Filipino businesses approach their work,” Mr. Maquera added.
Microsoft found separately in its 2024 Work Trend Index that 89% of Filipino leaders believe adopting AI keeps their companies competitive, while 86% of Filipino knowledge workers use AI at work, well above the global average of 75%.
“With AI adoption rising, there is a growing need for local talent equipped to manage and develop AI solutions,” Mr. Maquera said.
Microsoft said Philippine companies are starting to tailor AI solutions to “streamline logistics and optimize other core operations.”
It added that companies in the Philippines deploying AI tools commonly report measurable returns within 13 months.
Businesses turning to AI are realizing returns averaging $3.70 globally for every dollar invested, with finance and media companies in the Philippines reporting returns on the order of $10 per dollar spent.
“AI’s value lies not only in what it can achieve today but in the speed with which businesses are realizing that value,” Mr. Maquera said.
Over the next two years, the application of AI in healthcare, manufacturing, and education is projected to rise, according to Microsoft.
“We look forward to seeing how Filipino organizations will continue to push the boundaries of what’s possible with AI,” Mr. Maquera added. — Almira Louise S. Martinez
