Embracing AI for Enhanced Productivity
MCCI President Mark Anthony Ynoc opened the summit by emphasizing the event’s role in fostering innovation and collaboration among businesses. He highlighted the importance of seizing opportunities to learn and innovate, stating, “Our presence here today is our way of seizing chances to unlock a brighter future for our businesses.”
Walter Ong, Chairman of MBM 2024, spoke about the significant impact of AI on business operations, noting that we are now in an era where AI is readily accessible and can automate processes across industries. “In the manufacturing sector, we are witnessing the integration of new technologies into existing systems, leading to the creation of smart factories that optimize production processes through data analysis,” he explained.
Marvey Alcantara, Chair of the Mandaue Business Summit 2024, encouraged participants to engage with the speakers and draw inspiration from their insights. The summit featured a diverse lineup of experts who shared their experiences and knowledge on leveraging AI for business growth.
The Future of AI in Business
Aboitiz Data Innovation CEO Dr. David Hardoon delivered a compelling presentation on “The Future of Enterprise Productivity – Empowering Business with AI Today.” He urged businesses to view AI and data technologies as opportunities for growth rather than threats. Contrary to common fears, Dr. Hardoon asserted that AI is not eliminating jobs but changing the nature of tasks within them. He encouraged companies to embrace these technologies to enhance revenue, reduce costs, and explore new possibilities.
Dr. Hardoon also highlighted the rapid pace of technological advancements and stressed the need for businesses to leverage AI for applications such as personalized marketing. “The challenge lies in determining how technology can effectively achieve specific goals,” he noted, urging attendees to recognize the vast potential of AI in various business functions.
Driving Economic Growth Through Sectoral Focus
Economist Dr. Cielito Habito shifted the focus to the broader economic landscape, emphasizing the importance of prioritizing agriculture, education, and the creative sector to drive economic growth. He advocated for boosting farm productivity through agripreneurship and leveraging technology to enhance agricultural practices.
Dr. Habito also underscored the need to address malnutrition in early childhood, noting that the Philippines has a 91 percent learning poverty rate according to the World Bank. He pointed out the underutilized potential of Filipino creativity, particularly in areas like cuisine and entertainment, drawing a comparison to South Korea’s entertainment sector, which generates approximately $12.3 billion in revenue with substantial government support.
Navigating E-Commerce with AI
Justin James, co-founder of Agencio and an expert in large language models and AI solutions, discussed the dynamic nature of e-commerce and the opportunities it presents. In his talk, “Navigating the Fast Pace of Changes: Embracing E-Commerce Opportunities with Enhanced AI,” James highlighted the importance of data in building scalable solutions. He predicted 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 a competitive edge,” James concluded, emphasizing the strategic advantages of adopting AI-driven solutions in the e-commerce space.
Women in Leadership
The summit also featured a panel discussion titled “From Empowerment to Leadership,” where three prominent women leaders shared their journeys to success. Natividad Cheng, CEO and President of Uratex/RGC Group of Companies, Rosalind Wee, Vice Chairperson of W Group of Companies, and Rosemarie Ong, COO and Senior Executive Vice President of Wilcon Depot Inc., highlighted the importance of hard work and balancing professional and personal responsibilities as key factors in their leadership paths.
Inspiration and Motivation
Motivational speaker Bro. Bo Sanchez closed the summit with an inspiring talk on “The Abundance Formula,” encouraging attendees to cultivate a mindset of abundance and possibility. The event, hosted by entrepreneur Bunny Pages at the Marco Polo Plaza Cebu, left participants with a renewed sense of purpose and a clearer vision of how to harness technology and innovation for future growth.
Overall, the Mandaue Business Summit 2024 was a resounding success, providing a platform for learning, networking, and inspiration. It underscored the crucial role of AI and innovation in driving business success and economic development in today’s rapidly evolving landscape.
