MANILA -- Philippine tech company Xurpas hopes to be back in the black by the second half of 2024.

On ANC's Market Edge, Andy Garcia, chief technology officer of XAIL or Xurpas AI Lab, said there is huge potential in helping companies speed up their growth through AI.

XAIL has consultants helping companies find pain points, then helps them figure out how machine learning and data science can address these, Garcia said.

"There is a lot of potential. In fact, an Alphabet analysis a few years ago mentioned that digital transformation and AI, when leveraged properly, can unlock up to P5 trillion in value by 2030. And the goal, the plan really is to be in the midst of all of that when that happens," he said.

Asked if they are hoping that this new initiative can help the company improve its earnings, Garcia said, "We are working hard really to improve our financials."

"Timeline is really second half of this year. That’s the goal, I’m not making any promises of course," he said.

--ANC, 24 January 2023