DICT, Landbank partner to develop AI solutions for MSMEs

The Department of Information and Communications Technology (DICT) and state-run Land Bank of the Philippines have entered into an accord to jointly develop AI-enabled digital solutions to help improve micro, small, and medium enterprises’ (MSMEs) access to financing and accelerate digital transformation.

In a news release, the DICT said it signed a memorandum of understanding with Landbank as part of the ASEAN Priority Economic Deliverable (PED) on the AI-Powered MSME Growth, seeking to expand access to affordable AI tools for MSMEs across the region as the country chairs the ASEAN Summit this year.

Under the accord, the DICT will work with Landbank strengthen the creditworthiness of MSMEs, improve productivity, and grow their business.

The ICT Department added that the partnership with the state-run lender will identify priority financing use cases, conduct pilot implementations, and provide operational feedback to enhance the DICT’s MSME AI Tech Stack.”

The tech stack is a mobile-first suite of AI assistant designed to help MSMEs address their most common challenges.

This includes the preparation of bankable business plans, complying with government requirements, setting profitable prices, understanding contracts, creating marketing content, and identifying financing and government support programs.

The DICT said the tech stak is designed to be accessible in Filipino, English, and other Philippine major languages,the platform guides entrepreneurs through each process to enable small businesses to become investment-ready.

The initiative was initiated by the DICT Office of the Chief of Staff, which concurrently serves as the Department’sASEAN Technical Working Group Head.

Undersecretary Faye Condez-de Sagon, in coordination with the DICT Emerging Tech Group, has been shepherding said PEDand forging strategic partnerships that translate the country's regional commitments into concrete results for Filipino businesses.

"Artificial intelligence must create real opportunities for our people, especially our MSMEs that serve as the backbone of the economy. This partnership with LANDBANK reflects our commitment to harness emerging tech and improve access to financing," said DICT Secretary Henry Aguda.

"Our ASEAN PED is about making AI useful for ordinary businesses. This MOU is another step which turns that vision into practical tools that will help MSMEs become more productive, financing-ready, and competitive," said Condez-de Sagon.

The DICT said collaboration with Landbank is expected to explore AI applications that can assist MSMEs in preparing business plans, organizing documentary requirements, supporting credit assessment, and improving business decision-making.

The agency said it continues to advance practical AI adoption, demonstrating how emerging technologies can strengthen MSMEs and drive growth across the country and the region. — RSJ, GMA News