Trade and Industry Secretary Alfredo E. Pascual called on the entire Asean community to strengthen intellectual capital and innovation to explore new “comparative advantages” in the world market amid the shift to Industry 4.0.
Pascual cited a 2020 study by Kearney and EDBI of Singapore, which predicted that artificial intelligence alone could “supercharge” Asean’s economy by 2030, potentially boosting regional gross domestic product by 10 to 18 percent or nearly $1 trillion in additional economic activity.
He also underscored the need to “stimulate technology adoption for smart agriculture and smart manufacturing through responsive programs and incentives.” To advance the region’s efforts towards attaining a successful Industry 4.0 ecosystem, the trade chief also noted there is a need to foster cultural development, especially of digital content, sports, culture, and the arts.For the Philippines, Pascual shared to the Asean community that the country’s workforce development programs are “tailored” to meet the demands of the future, eliminating skill mismatches and building human capital.
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