Wednesday, July 17, 2024

DTI Wants AI Research Center To Be Revenue-Generating


DTI Wants AI Research Center To Be Revenue-Generating


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With the launching of the Center of AI Research (CAIR) on Wednesday, Department of Trade and Industry (DTI) Secretary Alfredo Pascual said he wants this artificial intelligence-related research and development hub to be revenue-generating.

Pascual said at the sidelines of the launching in Mandaluyong City that the commissioning of AI research is expected to create revenues for the government in the coming years.

With a budget of PHP70 million for the next two years, Pascual said the CAIR will initially be housed at the DTI office in Makati City but will eventually be transferred to the proposed National Innovation Gateway at the University of the Philippines Diliman Campus in Quezon City.

“Eventually, we foresee the Center for AI Research to be self-sustaining because it will do projects in partnership with the industry. At some point, it will be revenue generating, and hopefully the revenues can cover future expenses so we can minimize the subsidy that we require from the government,” he added.

The DTI chief said the CAIR can accept and enter into research contracts with private companies and other stakeholders in AI.

Pascual said his office targets to start revenue generation of the CAIR within this year.

“For the remaining part of the year, we intend to do two projects for the government, [and] another two for the industry or for companies,” he added.

Pascual said operationalizing the CAIR is a “game-changer” and will position the Philippines as a global AI research and innovation leader in the region.

Citing International Data Corporation data, the DTI chief said the largest organizations in the Asia Pacific region will allocate more than half of their information technology budget to AI adoption in 2025.

“CAIR’s core mission is to elevate the Philippines into a premier destination for AI-driven innovation and investments across various industries, especially manufacturing,” the top trade official said. (PNA)