By The Manila Times
RIZAL Commercial Banking Corp. (RCBC) Executive Vice President and Chief Innovations and Inclusion Officer Lito Villanueva addressed finance management majors from De La Salle University (DLSU) during the National Finance Congress spearheaded by the Management of Financial Institutions Association (MaFIA). The fintech pioneer, visionary, and multi-awarded thought leader talked about the revolutionary power of AI and machine learning to make financial services more convenient, personalized, and targeted to consumers.
“Machine Learning is revolutionizing investment management and risk assessment, bringing unprecedented accuracy, efficiency, and insight. It can also identify correlations human analysts might miss, optimizing returns while minimizing risks,” Villanueva said.
Villanueva also provided compelling data that would prompt more young Filipinos to be skilled and ready for the emerging new age of digital finance powered by Artificial Intelligence (AI) in the region.
“AI spending in the Asia/Pacific region is expected to increase by 45 percent in 2024, with 75 percent of organizations aiming to invest in generative AI (GenAI). This underscores AI’s growing importance in shaping business strategies and driving innovation,” Villanueva added.
Villanueva was joined by other key figures in the finance industry, such as ING Philippines’ Country Manager Hazel Delos Santos, GoTyme Bank’s Cybersecurity Head Mon Alvin Galang, First Metro Securities Brokerage Corporation’s Vice President Andoy Beltran, The Global Filipino Investors’ Founder Floi Wycoco, and SGV & Co.’s Partner and Financial Services Organization Leader Christian Lauron.
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