MANILA -- The banking and financial services sectors are leading the way in using artificial intelligence in the Philippines, but many firms are also starting to embrace the new technology.

Microsoft Philippines said banks and finance firms have been the most keen on adopting the new technology, which is seen to boost profits for many businesses.

"Most of the adoption that we’re seeing is with companies that are the most sophisticated in technology and have the largest number of customers," said Microsoft Philippines CEO Peter Maquera. 

"And what’s proven to be one of the largest value pools in AI is the augmentation and increasing productivity around customer service, be it inbound our outbound," he said. 

Maquera also said Philippine firms are now less apprehensive about using artificial intelligence.

"The peak of the fear I would say was in the first 6 months of 2023, when you got to the second half of 2023 and now, I think there’s this acceptance," she said.

"I think there’s this acceleration in--let’s keep up because this is an opportunity for us just like anyone else," he said.

--ANC, 3 May 2024