Industry Leaders, Regulators Gather to Discuss AI, Cybersecurity Strategies At GRC PH Conclave

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Delegates of various tech-adjacent industries gathered at the Governance, Risk, and Compliance (GRC) Conclave on January 17 to tackle the issue of emerging technologies such as Artificial Intelligence (AI) and strategies to combat AI-driven threats.

The event, first-ever held in the Philippines at the Dusit Thani Manila Hotel, brought together 150 organizations across Information Technology (IT), Banking, Finance Services and Insurance (BFSI), Business Processing Outsource (BPO), and E-commerce sectors.

Salil Sankaran, President of Ampcus Group addressed tech leaders and regulators in his opening remarks saying, “It is not only our responsibility to grow our magnitude, but we will make sure that we do it ethically, we do it with utmost integrity, and sustainability is the goal of it.”

Keynote speakers included Robert Sanchez Paguia of the Cybercrime Investigation and Coordinating Center (CICC), who spoke on his division’s role in cybersecurity and shared practical tips on staying safe online.

As the main implementing agency in enforcing laws on cybercrimes, the CICC created the Inter-Agency Response Center to receive complaints from the public.

Paguia shared a few tips on being protected online: 1) keep software up-to-date, 2) use an antivirus, 3) use strong alphanumeric passwords, 4) avoid opening attachments, or 5) links in spam emails. 6) avoid giving out personal information unless secure, 7) contact companies directly about suspicious requests, 8) be mindful on the URLs that you visit, and 9) keep an eye on bank statements.

“Most companies that suffer from attacks or data breaches, most often than not, they cannot recover anymore, they go bankrupt,” Paguia warned.

Department of Information and Communications (DICT) Undersecretary of Infostructure management, cybersecurity and upskilling Jeffrey Ian Dy warned that, “the barrier of entry for cyber-attacks has decreased because of AI.” He mentioned that the agency monitors up to 1.7 to 2 million threats a month.

Fintech

Banking and Fintech leaders John Patrick Lita (ING), Carlos Tengkiat (RCBC), Lawrence Ferrer (CIS Bayad Center), Marlon Sorongon (Maybank Philippines) discussed concerns in the sector, particularly scams and phishing schemes prevalent in the Philippines.

Ferrer pointed out that malicious actors continue to innovate, citing scam links in SMS messages as an example. This, he said, was why companies must adhere to the GRC guidelines.

Meanwhile, Sorongon emphasized the need to “continuously tell, inform, advocate, and share” about these types of schemes, “not just for employees but also for clients.”

Carlos Tengkiat, expressed his thoughts on AI, saying that it may help in the detection of fraud and could help users in where to invest. Since adoption of AI is similarly on the rise, Tengkiat shared that “[companies] should temper AI with human knowledge.”

Banks are also looking into utilizing AI to facilitate repetitive tasks, John Patrick Lita of ING shared. “We need to identify the specific requirements…needed that can [be] solved by the AI, like repetitive work.” Lita said.

Women in Cybersecurity and AI

Col. Francel Margareth Padilla-Taborlupa, spokesperson for the Armed Forces of the Philippines who emphasized in her talk the role of women in cybersecurity in extending opportunities for people to contribute to national security.

“Walang mahirap o mayaman sa information domain,” Padilla-Taborlupa said, highlighting citizens’ role in securing the Philippines digital space and combating fake news. “Cybersecurity is a strategic concept of national security,” she added.

The event also featured a panel with women pioneers in the cybersecurity and AI space, Mel Migrino (President of WiSAP), Majorie Labindao (AltPaynet) and Arlene Romasanta (Department of Natural Resources). Migrino said that women’s role in the area of GRC will be significant, as AI systems have biases in gender that may be overlooked.

As for roles in the ICT field and cyberspace, Labindao emphasized the need to “keep yourself updated” regardless of gender as the technological space continues to evolve and businesses start to embrace AI’s role in their operation.

As AI technologies make their way to consumers and companies, it becomes necessary to be united against cyber-threats and attackers.

In an interview, Ampcus Cyber Chief Officer Deep Chanda said, “Companies today cannot just sit in one closed room and talk about security… these events are the best place to get united to share our thoughts, to share our problems and how to look at the next-gen tools, next-gen software developments, next-gen automations.”

Underscoring the event was the theme of trust and compliance between companies, regulatory bodies, customers and clients to build a safer, more secure technological future in the Philippines.