AI is here to stay, Aboitiz’s Rafael Fernandez de Mesa tells CoinGeek Backstage

“AI is here to stay,” says Rafael Fernandez de Mesa, the senior vice president at Aboitiz InfraCapital. In an interview with CoinGeek Backstage, he talked about how the conglomerate is leveraging technology and how artificial intelligence (AI) can transform the Philippines.

De Mesa was at the AI Summit PH, where industry leaders and government officials congregated to discuss the role of AI as well as blockchain and other emerging technologies in the Southeast Asian country. He was a member of a panel that focused on the integration of AI into smart cities.

“In order for us to compete and attract investors from abroad, we need to level up our development. We compete with countries like Vietnam, Thailand, and Malaysia. Other than providing the infrastructure, we must add a smart layer to these developments in order to make it a more attractive destination,” he told CoinGeek Backstage reporter Claire Celdran.

Aboitiz InfraCapital, which is the infrastructure arm of the Filipino conglomerate Aboitiz Group, has been integrating emerging technologies like AI since it launched in 2015, De Mesa says.

The company recently completed its smart water network, which uses sensors to “monitor the efficiency of the use of the very precious resource that’s water and ultimately reduce the downtime and water wastage, and extend the life of the infrastructure, reducing costs.”

The smart water network relies on AI to analyze the data collected by the sensors for predictive purposes, De Mesa added.

Aboitiz InfraCapital is among a handful of companies exploring emerging technologies to provide solutions to tackle the evolving needs of and common problems plaguing the Filipino community.

“AI is here to stay,” he concluded.

“The best way forward is to collaborate with all the different stakeholders in the public and private sectors to put our knowledge and experience together and make the Philippines an attractive destination,” noted De Mesa.

Watch: AIBC Summit Manila highlights blockchain solutions, AI innovation in the Philippines