ABAC PH to craft digital innovation roadmap

MANILA -- The Asia Pacific Economic Cooperation (Apec) Business Advisory Council (Abac) Philippines has set out to craft a digital innovation roadmap for the country, saying this is an area that must be given priority.

Abac Philippines said in a statement Monday that it is in the process of organizing a publicprivate sector task force to formulate the digital innovation roadmap.

The group said that the envisioned roadmap should to be linked to government policies, the educational system, and training programs.

This initiative is Abac Philippines’ contribution to Apec’s goal of promoting economic growth and inclusive growth in the region.

“Digital innovation will bring us to the future. However, many of the jobs we have today will disappear 20 years from now. What are the skills and the competencies that a Filipino worker must have to ‘survive’ in the future? What kind of educational system will we need to prepare our children? These are critical questions that must be answered to ensure that the Philippines will not be left behind,” ABAC Philippines Chair Tomas Alcantara said.

Abac noted a study by international consulting firm McKinsey indicating that 48 percent of jobs in the Philippines could be automated. This could affect the employment of about 18.2 million Filipinos.

Meanwhile, Abac Philippines is also looking at tapping into the $70.8-billion in available funds from Islamic financial institutions globally to support the financial needs of the country’s infrastructure projects.