More Philippine organizations invest in cybersecurity amid AI-driven threats

By Ashley Erika O. Jose, Reporter

THE RISE of artificial intelligence (AI) is reshaping cybersecurity strategies, with Philippine organizations increasing investments to counter increasingly sophisticated cyberthreats and strengthen their resilience against attacks, experts said.

“Cyberthreats are no longer an isolated case. They are now part of the business realities that every organization must be prepared to face. The question for businesses and leaders is no longer how to prevent cyberthreats, but can our business continue to operate and recover,” Cybercrime Investigation and Coordinating Center (CICC) Executive Director Renato “Aboy” A. Paraiso said during the BusinessWorld Cybersecurity Summit at Hilton Manila Newport World Resorts on Tuesday.

For CICC, the number of cyberattacks continues to grow, with the number of cybercrime-related complaints reaching nearly 20,000 year to date.

Mr. Paraiso said over 61% of the complaints were related to scams.

“Cybersecurity is designed to prevent attacks, cyber resilience, on the other hand, ensures when an attack gets through it can minimize damage,” he said, noting that the actual number of cybercrimes are likely to be higher considering that most do not report them.

For CICC, Mr. Paraiso said the agency is proposing a budget of P1.5 billion, nearly double its P835-million allocation in the 2026 national budget amid the rising threat of cyberthreats.

The CICC noted that the financial sector is the most vulnerable to cyberattacks, amid the surge in AI use.

“Financial services are the ones that are heavily impacted by emerging technologies. It only makes sense that the BSP (Bangko Sentral ng Pilipinas) is at the forefront of developing governance frameworks, risk-based approaches,” Divina Law Managing Partner Jay-R C. Ipac said during the forum.

Mr. Ipac said the Philippines should draw lessons from neighboring countries in crafting regulations and guidelines for AI use, as well as policies to strengthen cybersecurity development.

“Geopolitics aside, we have some things to learn from Chinese regulatory frameworks. China is taking an active lead in shaping AI regulation. We have to look at this with an open and cautious mind,” Mr. Ipac said.

The Department of Information and Communications Technology (DICT) has developed a National Cyber Security Plan which is designed to protect the Philippines from digital threats, and to ensure the security of critical information infrastructure.

At the same time, the DICT is currently developing a National AI roadmap which will cover policies, and oversight mechanisms for the use and deployment of AI.

“Regulatory convergence should be our goal, and you align it to your ultimate vision, which is to ultimately maintain trust,” KPMG Philippines Technology Consulting Partner Gilbert T. Trinchera said.

In the absence of regulations governing AI, he said any future framework must align with the Data Privacy Law.

“I would say that AI is really a double-edged sword. AI is being used by adversaries to scale their attacks,” Maya Philippines, Inc. Director of Information Security Jan Martin Encina told BusinessWorld on the sidelines of the forum.

For financial technology companies like Maya, AI is being utilized to detect anomalies and cyberthreat patterns, he said, adding that the pros of leveraging AI outweighed the cons.

“We are not a company that would shy away from the use of AI because there is a massive opportunity, not just in the area of security but in the business operations,” Mr. Encina said.

Maya will continue to increase its investments to enhance the company’s cyber-defense capabilities, he said. He noted Maya is also working with the government, particularly the DICT, to share threat intelligence and advanced security measures.

GCash Chief Risk Officer Ingrid Rose Ann Beroña said the electronic wallet platform is leveraging a full suite of technologies to strengthen operational resilience and safeguard the company against threats, as financial institutions continue to face constant attacks.

“AI is part of our DNA. Everything we do is currently injected with AI. Even in a lot of our business plans. We truly believe that AI is okay for us to sustain and scale our business, and to ensure that we are able to embed security into our services,” Ms. Beroña said on the sidelines of the forum.

Globe Telecom, Inc., the parent company of GCash operator Mynt, Inc., said it is allocating P56 billion this year to expand the use of AI across its operations and enterprise services.

“In today’s interconnected world, a cyberattack on one organization can quickly affect thousands more. That is why cybersecurity has become an issue of national resilience,” Cybersecurity Council of the Philippines Chairman Donald Patrick L. Lim said.

Mr. Lim said that businesses will only thrive if their information is secure, as data become more valuable.

“People only transact when they trust. Investors only invest when they trust institutions and businesses can only innovate when customers believe their privacy is respected,” he said.