PHL an ‘outperformer’ in f rontier technology
THE PHILIPPINES is considered among developing countries that performed better on frontier technologies than their per capita gross domestic product (GDP) would suggest, a 2021 report by the United Nations Conference on Trade and Development (UNCTAD) showed.
UNCTAD’s “Technology and Innovation Report 2021” released on Thursday identified developing countries that have performed better on frontier technologies than their per capita GDP.
Frontier technologies include artificial intelligence (AI), the internet of things (IoT), big data, blockchain, 5G, 3D printing, robotics, drones, gene editing, and nanotechnology.
“The extent of ‘overperformance’ is measured as the difference between the actual index rankings and the estimated index rankings based on per capita income… The greatest overperformer is India, by 65 ranking positions, followed by the Philippines by 57,” UNCTAD said.
The Philippines was followed by Ukraine, with an actual ranking of 47, Vietnam (45), and China (40).
The UNCTAD report scored countries on their readiness for frontier technologies based on five building blocks: information and communications technology (ICT) deployment, skills, research and development (R&D), industry activity and access to finance.
The Philippines also has a high ranking for industry.
“This reflects high levels of foreign direct investment in hightechnology manufacturing, particularly electronics,” it added.
Multinational businesses are attracted by the Philippines’ “strong” supply chains and “solid” base of parts manufacturing, UNCTAD said.