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Homepage > News > Interviews > AI, blockchain anchor Philippines’ digitalization journey Artificial intelligence (AI) is making its mark in the Philippines, a nation renowned for rapidly adopting emerging technologies. Filipino enterprises have integrated AI into operations to cut costs, increase efficiency and obtain a competitive edge. However, there are concerns, including bias and hallucinations, which Bismark Orbe says businesses must be cautious about as they embrace the technology. title=”YouTube video player” frameborder=”0″ allow=”accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share” referrerpolicy=”strict-origin-when-cross-origin” allowfullscreen=””> Orbe is the director of finance and procurement at JG Summit Holdings, a Philippines-based conglomerate with interests in manufacturing, tech, air travel and finance. He spoke to CoinGeek reporter Claire Celdran on the sidelines of the 8th Fintech Revolution Summit in Manila, where he participated in a panel discussion on the risks of AI. “One of the primary concerns with AI adoption is that AI could produce a lot of biased information and lots of hallucinations as well. It’s very important that we’re critical of what AI is producing,” he stated. Indeed, bias and hallucinations are among the key risks of AI. Study after study has shown that most large-language models (LLMs) have been trained on biased data, leading to biased output. A July 2024 United Nations report summarized this as “bias from the past leading to bias in the future.” Blockchain, with its decentralized, immutable and transparent data ledger, has been touted as the best solution for AI bias. Besides AI, the Philippines is rapidly adopting other emerging technologies in the private and public sectors. The inevitable consequence has been a rise in scammers who leverage the latest technologies to target the non-tech-savvy crowd. Orbe cautioned businesses to be vigilant with digital security as, in addition to direct financial losses, it could damage their credibility and reputation…

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Filed under: News - @ October 16, 2024 9:18 am