DIGITAL INFLUENCER | Building a responsible AI-driven economy

As artificial intelligence (AI) rapidly transforms financial services, marketing, healthcare, and governance, questions about ethics, trust, and responsibility are becoming impossible to ignore.At the recently held Surfin AI Fintech Forum 2025 in Manila, two respected voices in global thought leadership — Dr. John Quelch, President of Duke Kunshan University, and Dr.

Michael Spence, Nobel Laureate in Economics, shared timely and hard-hitting perspectives that went beyond technical innovation. They asked a deeper question: What kind of economy are we building when AI is in charge?Trust dilemma in an AI world“AI will change everything, for everyone, everywhere. No one will be immune to it,” said Dr.



Quelch. But with that power comes a critical demand: trust.For Quelch, the reliability and transparency of AI systems are not just engineering issues — they’re public trust issues.

“Bias in, bias out,” he warned. “All sources of information are subject to bias. If the input is biased, the output is biased.

That is something we have to be vigilant about when it comes to technology.”He noted that consumer trust can be earned if fintechs and AI platforms are clear about their goals, intentions, and boundaries. More importantly, they must align outcomes with user needs.

“The results should match the objectives of the user. Otherwise, the technology is just noise,” he added.His takeaway was simple: people will adopt AI if it makes their lives better, cheaper, and faster — but they will abandon it just as quickly if it lacks clarity, fairness, or value.

Regulation, responsibility, and restraintDr. Spence took the conversation a step further by addressing systemic accountability. He challenged us to think about how regulation, business signaling, and market discipline could be recalibrated in a digital age.

“There are three levers,” he explained. “Regulation — to penalize bad behavior and demand transparency. Signaling — companies must take actions that reflect their credibility.

And trusted brands — those are built over time through consistency and presence.”But Spence also issued a warning. “If you always bail out bad behavior, you end up encouraging it,” he said, referring to past financial crises where reckless institutions were rescued without meaningful reform.

“We must be careful not to reward the very risks we’re trying to manage.”The challenge for emerging markets like the Philippines, according to Spence, is to design regulatory systems that don’t just catch up to technology — but shape its direction.What is — and isn’t — AIBoth Quelch and Spence were quick to dispel the hype that surrounds the term “AI.

”Spence reminded the audience that not all automation is artificial intelligence. “People tend to overuse the word AI. Much of what we’re calling AI today is just automation — routine and codifiable.

The real breakthrough came when technology could do things we couldn’t even write down ourselves,” he said.He also made an important distinction between modern AI and generative AI. While generative AI can produce text, images, or even music, modern AI encompasses a wider ecosystem of tools — such as machine learning, optimization, and recommendation engines — that power digital platforms in more silent but equally powerful ways.

The difference matters, especially in policymaking, where misunderstanding the tool can lead to overregulation or, worse, underpreparedness.Lessons for the Philippines and AseanAs the Philippines accelerates its digital economy roadmap and AI adoption, the insights of Spence and Quelch serve as reminders that technology alone is not the answer. The real work lies in system design, ethical foresight, and user alignment.

Without trust, AI will remain a buzzword. Without fair rules, it can deepen inequality. But with the right frameworks in place, AI can indeed be what Quelch called “a co-pilot” in shaping a more efficient, inclusive, and transparent economy.

The takeaway for Filipino policymakers, business leaders, and developers is clear: AI must not only work — it must work for people.The post DIGITAL INFLUENCER | Building a responsible AI-driven economy appeared first on Newsbytes.PH.

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