Using technology, particularly artificial intelligence, will help businesses improve enterprise productivity.
The Mandaue Business Summit 2024 speakers underscored the importance of using artificial intelligence in various aspects of businesses. The summit is one of the events in Mandaue Business Month (MBM) 2024, an annual activity of the Mandaue Chamber of Commerce and Industry (MCCI).
MCCI President Mark Anthony Ynoc called the summit an ideal venue where businesses can learn transformative strategies, network with peers, and learn from fellow entrepreneurs. “Our presence here today is our way of seizing chances to unlock a brighter future for our businesses,” he said.
“Our presence here today is our way of seizing chances to unlock a brighter future for our businesses,” Ynoc said in his welcome address. “The MCCI urges everyone to seize the learning opportunities at this summit and gain insights into innovating your business.”
MBM 2024 Chairman Walter Ong said artificial intelligence has significant impacts in doing business. “We are now in the era where artificial intelligence is at the tips of our fingers” and could help automate processes, he said.
“In the manufacturing industry alone, we are seeing new technologies integrated into current systems, smart manufacturers, smart factories being built, and connecting machines and optimizing production processes through data analysis,” Ong said.
Mandaue Business Summit 2024 Chair Marvey Alcantara urged summit participants to learn, connect, and become inspired by the speakers who are respected and recognized in their fields.
In his speech read by Mandaue City Administrator Jamaal James Calipayan, Mandaue City Mayor Jonas Cortes stressed the importance of staying ahead of the curve. The mayor noted that new ideas and technological advancements redefine how people live, work, and do business. “This summit is our commitment to growth and excellence. The MCCI is key to making our entrepreneurship flourish,” he said.
Dr. David Hardoon, chief executive officer of Aboitiz Data Innovation, discussed the topic “The Future of Enterprise Productivity – Empowering Business with AI Today.” He urged businesses to consider artificial intelligence (AI) and data technologies as opportunities, not threats.
Jobs are not disappearing because of AI; instead the specific tasks in jobs are changing, Dr. Hardoon pointed out. He encouraged businesses to seize opportunities created by new technologies, specifically AI and data-driven economies.
Aside from creating new job opportunities, he stressed that AI and data technologies are essential for future growth. Businesses adopting these changes can focus on increasing revenue, saving money, and creating new possibilities.
Dr. Hardoon cited the rapid pace of technological advancement and urged businesses to recognize and leverage the potential of AI for personalized marketing and other applications. The challenge is in determining how technology can effectively achieve specific goals, highlights the rapid pace of technological advancement, urging the audience to recognize and leverage the potential of AI for personalized marketing and other applications.
On the other hand, economist Dr. Cielito Habito emphasizes the need to prioritize agriculture, education, and the creative sector to drive economic growth. He cited the need to boost farm productivity through agripreneurship and use of technology.
Dr. Habito also stressed the need to solve malnutrition in early childhood. The World Bank says the Philippines has a 91 percent learning poverty.
He also pointed to the under-utilized Filipino creativity in various aspects such as cuisine and entertainment. South Korea’s revenues now reach an estimated $12.3 billion from the entertainment sector. This was achieved with the support of the government, he added.
Meanwhile, Justin James, co-founder of Agencio and expert in LLMs and AI Solutions, tackled the topic “Navigating the Fast Pace of Changes: Embracing E-Commerce Opportunities with Enhanced AI.”
“Tools enable us to build scalable solutions. All of these technology is powered by data. Make sure to collect data and use it effectively to give insights of your business. These tools are about bringing competitive edge,” James said.
He cited future trends such as AI-designed custom products, hyper-personalized virtual storefronts, emotion-based product recommendations, AI-generated virtual influencers and predictive returns management.
“We can embrace these technologies to give businesses advantages,” James added.
Three women – Ms. Natividad Cheng, chief executive officer and president of Uratex/RGC Group of Companies; Ms. Rosalind Wee, vice chairperson of W Group of Companies; and Ms. Rosemarie Ong, chief operating officer and senior executive vice president of Wilcon Depot Inc., also shared their insights on the topic “From Empowerment to Leadership.”
All three cited hard work and the ability to balance work and family as qualities needed in their journey towards becoming business leaders.
Motivational Speaker Bro. Bo Sanchez talked about “The Abundance Formula” during the summit.
Entrepreneur Bunny Pages hosted this year’s Business Summit held at the Marco Polo Plaza Cebu.
