pampawerte Software engineering firm Ascendion ramps up PH expansion
This photo taken on January 29, 2019 shows a general view of the skyline of the financial district of Makati City in Metro Manila. (File photo by Ted ALJIBE / AFP)
Software engineering firm Ascendion on Friday launched its new artificial intelligence (AI) studio in Makati City, marking its latest expansion in the country which it sees as a key location for its growing number of business hubs.
However, Hong Kong and Shanghai extended their surge as traders cheered more moves by Chinese authorities to revive the country’s battered economy with more support measures for the crucial property sector.
With its third physical office in the country, Ascendion chief executive officer Karthik Krishnamurthy said they aim to create 6,000 new jobs in the Philippines in the next three years, pushing the total of its local workforce to around 9,000.
Article continues after this advertisement“Our commitment to the Philippines has never been stronger. We are redefining how we serve clients and empower local talent with global capabilities,” Krishnamurthy said in a statement.
free slots for funFEATURED STORIES BUSINESS Filipino-Chinese group bucks P200 legislated wage hike BUSINESS Carmaker invests P7 billion more for PH expansion BUSINESS Basic Energy takes step closer to building P5-B wind park“We are creating a stronger, more agile organization that will deliver transformative growth for the Philippines,” he noted.
“Our focus is clear: Bring cutting-edge AI-powered platforms, leverage the Philippines to serve global clients, and create opportunities for engineers in the Philippines,” he added.
Article continues after this advertisementWith the creation of thousand of new jobs, the company CEO said they will make an economic impact of at least $500 million in terms of job value.
Article continues after this advertisementMeanwhile, Ascendion Senior Vice President Manan Mehta, who head the company’s Asia Pacific operations, said they are currently working with over 50 locally headquartered companies.
Article continues after this advertisementThese include firms from a wide range of industries, including banks, insurance, manufacturing, retail, aviation, logistics, energy and utilities.
“We feel that we have a great opportunity of bringing in the technology platforms that we’ve built, leveraging AI, bringing them in, turbo charging all the 3000 ascenders that we have in the Philippines as to how to leverage this technology, how to create the right use cases, [and] how to bring them to our clients,” he said.
Article continues after this advertisementOn the sidelines of the launch event, Mehta told the Inquirer that they invested around $1.5 million for their latest office in the country.
He said that they will also be opening another office in Cebu in the coming months.
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