HYPERTECH MAGAZINE ISSUE NO. SPINFOTE 04 SEPTEMBER 2021-JANUARY 2022

Hypertech Magazine Issue No. SPINFOTE 04 | September 2021 - January 2022

Emerging Technology Featuring the latest emerging technological advancements of today.

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Foreword

By Prof. Gary A. Grey This issue of Hypertech E-magazine features 4 articles that focus on the convergence of 4 technologies in the Web.3.0 universe.

5 G Technology The Metaverse: The Next Big Thing in Virtual and Augmented Reality Facial Recognition Systems in Security and Surveillance The Effect of Artificial Intelligence on Businesses The Metaverse is in itself the result of the convergence of the Web 3.0 universe, virtual and augmented reality, and blockchain.

The COVID-19 pandemic and the financial meltdown caused by lockdowns brought to fore the hastening of the digitalization of business. The articles examine each technology with a technology description, a SWOT analysis, a cost-benefit analysis, applications in various industries, ethical implications, and nationbuilding implications.

Hypertech Magazine Issue Spinfote S04 September 2021-January 2022 Gary A. Grey, MBM, is a consultant for

In the Ateneo School of Medicine and

software

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Informatics. He took up undergraduate

systems and intelligent process support

studies at De La Salle University where he

software for the global market. He is

graduated Magna Cum Laude major in

concurrently a faculty member of the

Economics in 1972. He served in the

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banking community for the last 26 years

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Technology,

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Marketing, Technopreneurship, and ECommerce.

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TABLE OF CONTENTS 04 18 43 57

5G TECHNOLOGY

by Group 1

THE METAVERSE: THE NEXT BIG THING ON VIRTUAL AND AUGMENTED REALITY

by Group 2

FACIAL RECOGNITION SYSTEM IN SECURITY AND SURVEILLANCE

by Group 3

THE EFFECT OF ARTIFICIAL INTELLIGENCE ON BUSINESSES

by Group 4

5G TECHNOLOGY I. Technology Description 5G technology is a new global wireless standard and the fifth generation of cellular technology after 1G, 2G, 3G, and 4G networks. The 5G technology is meant to deal with the longer term and future demands in telecommunications networks such as increased speed, increased capacity, improved data rate, reduction in latency, improved flexibility, and better quality of wireless service. Apart from these improvements, 5G technology is additionally expected to support a massive IoT (Internet of Things) ecosystem which allows networks to facilitate communications needs among billions of connected devices.

Converse to 4G’s peak speed of only 1Gbps, 5G technology encompasses a theoretical peak speed of 20Gbps which could facilitate the improvements in the performance of business applications and other digital experiences like online gaming, videoconferencing, and autonomous (self-driving) cars to name a few.

A. Technical Environment Our future is imagined as a networked society with boundless access to data sharing and information which is accessible each time and everywhere for everyone. 5G technology will introduce advances all over network architecture.

The 5G architectures are also expected to be agile and flexible and to provide anytime, anywhere user access because of the advancements in virtualization, cloud-based technologies, and IT and business process automation.

The 8 specification requirements which drive 5G technology are as follows: Data rate of up to 10-20Gbps data rate (that is 10 to 100x speed improvement over 4G and 4.5G networks) Latency rate of 1 millisecond Bandwidth per unit area that is 1000x Number of connected devices per unit area of up to 100x (compared with 4G LTE) Availability of 99.999% Full coverage of 100% Reduction in network energy usage of 90% Battery life of up to 10-year for low power IoT device Compared to its 4G predecessor, 5G is expected to be 10 to 100 times faster. The utilization of short frequencies ranging between 30GHz and 300GHz for 5G networks will introduce larger bandwidth and faster speed.

Not only in speed but the highband 5G spectrum also provides the expected boost in low latency, capacity, and quality.

The latency rate of 5G, which is the delay between the sending and receiving information, is extremely low at 1 millisecond from 200 milliseconds for 4G. To give an analogy and example, 250 milliseconds is the average reaction time for humans to a visual stimulus.

Now in comparison, imagine your car reacting 250 times faster than you. That means to say, the car can respond to hundreds of incoming information and then communicate back to other vehicles its reactions all within milliseconds time. At 100kph, the reaction distance is about 30 meters before a person pulls on the brakes. With a 1 millisecond reaction time, the car would only have rolled a bit more than 1 inch.

Figure 1. A general 5G cellular network architecture describing the interconnectivity among the different emerging technologies

B. Trends in Technology Every new generation of wireless network introduces a new set of new and innovative usages and 5G will make no exception and will focus on IoT and applications on critical communications. The following trends in technology are the applications and uses of 5G over time in terms of the schedule: Fixed wireless access (from 2018-2019 onwards) Enhanced mobile broadband with 4G fall-back (from 20192020-2021) Massive Machine-to-machine (M2M) / IoT (from 2021-2022) Extremely low-latency IoT critical communications (from 2024-2025) Although they do not require fast data rates, some critical applications like self-driving cars require very aggressive latency, that is fast response time. On the contrary, more than latency improvements, enterprise cloud base services with massive data analysis will require speed improvements.

The use of 5G across three main types of connected services are the following: Enhanced mobile broadband service allows 5G mobile technology to support new immersive experiences such as Virtual Reality (VR) and Augmented Reality (AR) with faster data rates and lower latency and cost-per-bit. That is in addition to making our smartphones better.

For mission-critical communications, 5G can enable new services for industries with very reliable, available, lowlatency links like remote control of vehicles, medical procedures and practices, and other critical infrastructures.

For Massive IoT, 5G is meant to flawlessly connect a massive number of embedded sensors virtually through scaling down of data rates, mobility, and power.

This can provide lean and lowcost connectivity solutions.

C. SWOT Analysis

STRENGTHS

Provides high data rate Low latency rate Lower power consumption Increased Bandwidth

WEAKNESS

5G infrastructure support Availability Decreased Broadcast Distance

OPPORTUNITIES

Emergence of Internet of Things Big Data Autonomous Vehicles Smart Cities

THREATS

Security Privacy

STRENGTHS Provides High Data Rate – With 5G designed to deliver as high as 20Gbps shows an increase 100 times faster than 4G LTE. Low Latency rate – Network latency is defined as the duration a signal travels from its source to the receiver. With 5G network the low latency rate allows faster transmission of data with only 5 milliseconds. This is a great opportunity for the Internet of things as this allows devices to respond faster and in real time.

Low Power Consumption – Compared to 4G networks and lower versions of the network, 5G network has allowed lower energy consumptions, in addition 5G New Radio supports earlier versions of the network. The 5G new radio is designed for denser reach hence a more efficient operation.

Increased Bandwidth – Bandwidth refers to the transfer speed or connection speed. With the combination of low latency rate and high data rate, 5G networks are equipped to handle large amounts of data.

With increased bandwidth, increase of Internet of Things, Smart Cities and autonomous cars are seen in the near future.

WEAKNESSES 5G Infrastructure Support – Since it is only now that the 5G network is becoming available, presence of 5G infrastructures is still minimal compared to earlier versions of the network.

Businesses are raising capital to improve their infrastructures. Deployment of 5G networks have faced challenges because of spectrum availability.

5G networks operate on higher frequencies thus the need to acquire higher spectrum bands which are costly. Aside from the spectrum availability, upgrading networks require complex network architecture.

Availability of 5G networks – as seen in the Philippine setting, the availability of 5G network is still limited due to the fact that a lot of infrastructures are faced with capital and availability of high spectrum band.

Infrastructures are limited thus only 5G networks are only catered to major urban cities.

Decreased Broadcast Distance – with the low latency, higher data rate, and increased bandwidth, infrastructures only provide short range wavelengths to ensure the benefits for the network. To cater to the increasing demand of 5G networks, numerous infrastructures will be needed to accommodate this.

OPPORTUNITIES Emergence of Internet of Things – With the continuous emergence of devices able to transfer and receive information, the internet of things will be a good opportunity for the 5G network to take advantage of.

The low latency rate of the 5G network allows smooth exchange of information for almost all devices, receiving data at a high-speed rate.

Big Data – With the increased bandwidth of the 5G Network, Big data will easily be processed and transferred on cloud.

With data being gathered from security cameras, organizational systems, maps, databases, and drones, the 5G network allows a real time data collection, and a more efficient data processing.

Autonomous Vehicles – the rising market for autonomous vehicles increases the need for 5G networks. The low latency of the 5G network allows information to be transferred in a millisecond which autonomous vehicles require for safety in real time road conditions.

Smart Cities – with the projection of connected devices to increase to 75 billion by 2025, Smart cities are now more possible with the 5G Network.

With a more coherent data collection and high-speed transfer rate and low latency rate, the majority of devices are able to communicate with each other.

THREATS Security – As devices continue to capitalize on the availability of 5G networks, Internet of Things, Autonomous cars and Big Data have increased attraction to cybersecurity threats. The 5G network relies on software defined networks which are widely used, and a lot of potential hackers are knowledgeable about this information.

Security will always serve as a threat to the emergence of the 5G network.

Privacy – As data collection has increased in volume and speed, devices and other software require upgrades.

Manufacturers and key players in the network need to update and restructure security and privacy measures to take into account the availability of 5G networks. GPS systems, maps, and other behavioral data may be collected and leaked easily if organizations and devices do not combat the security challenges faced by the 5G network.

II. Business Applications The 5G technology is designed to move data and support new and existing devices at a faster rate than previous wireless network capabilities. As previously discussed, its benefits and applications go beyond smartphone use.

With the rise of internet enabled devices such as IoT, real-time response on pairing is made possible with 5G. This not only gives us new ways to consume and use data but also helps businesses acquire consumer insights faster which can potentially help them improve. Storage and use of these data can also help them put out more innovative products and services.

As consumers, we have all experienced the ease and convenience brought about by the ever-evolving network technology. Technology changes faster than ever. In the past, trends in technology were mostly on the evolution of the mobile app industry. We saw and experienced the rise of apps that provide services such as video streaming, ride sharing and food delivery. Today, there has been a boom in consuming data through video as it has become one of the main sources of media and entertainment for people. Other big trends are cloud-based experiences and interactive gaming. As 5G expands beyond mobile use to new industries, it is expected that user experiences will improve more. Improvement in technologies with human-to-machine interactions such as extended reality (XR), seamless connections for IoT devices, upgraded real-time cloud access and expanded interactive content to mention a few.

For businesses, 5G definitely has a massive impact. As mentioned, 5G allows consumers rapid access to information which in turn helps businesses enhance and improve overall. With the ongoing digitalization, businesses are given more opportunities to innovate and provide better solutions to problems. .

Digitalization also forced them to migrate their systems to fit today’s technology standards. 5G is one of them. A 5G powered business can improve the overall experience of its customers, help expand the business resulting in increasing revenue opportunities as well as reduce costs. 5G provides the following to businesses: Flexibility and a chance to create new business models Ability to process and control systems remotely in real-time Optimal performance with automated operations High security level Certain industries such as healthcare, manufacturing, retail, agriculture and logistics can leverage and take advantage of the 5G capabilities which include high speed, low latency, network capacity etc.

Healthcare – 5G helps healthcare providers, doctors and nurses alike be more connected with patients. Wearable devices on patients can assist doctors in symptom assessments and can also speed up the gathering of health information for future records.

Manufacturing – With the faster movement of information and data that 5G provides, it helps streamline factory processes which makes them run smoothly and much more precise as well as minimize downtime which contributes to the reduction of costs. 5G can also transform quality assurance processes into something that has sensor technology and AI. Retail – With the emergence of ecommerce businesses, customer experience data are being collected at a faster rate.

5G also helps in inventory management and re-stocking real-time.

Convenience in payments is also made possible nowadays with mobile banking and integrated fintech applications. Payments can be transferred real-time. In some countries, there are even selfcheck-out counters that help cut down the time lining up, therefore increasing business revenues.

Logistics – 5G helps improve the communication between shipments as it provides real-time updates on delivery tracking. It also helps drivers navigate roads more efficiently making the transportation of goods faster than ever.

5G These are just some industries that have maximized the benefits of 5G technology. It applies to other industries as well. As technology is always evolving, businesses can find more ways to capitalize and leverage on 5G.

III. Cost Benefit Analysis The 5G technology ROI market was valued around 2 billion USD in 2020 and is likely to reach 320 billion USD by 2027, registering a compound annual of ~133% from 2020 to 2027.

5G, as the next generation of wireless communications, is estimated to offer internet speed at least ~40 times faster than 4G. This new communication technology is predicted to develop new capabilities; hence, creating potential prospects in the whole industry.

5G technology is set to revolutionize numerous industries and offers a wide scope of developments.

Enhanced mobile broadband, massive machine-type communications, and ultrareliable and low latency communications (URLLC) are the numerous wireless connectivity features driving the 5G technology advancements.

5G technologies is expected to spur the mass implementation of industrial automation and connected cars as an example. 5G technology is also expected to lead the way in inter- connected society and provide socioeconomic value paybacks.

5G infrastructure focus Categorically the four industries, Automotive, Infrastructure, Healthcare & Life sciences are the main beneficiary of this technology. With the addition of 5G technology these industries will now experience more stable connections and faster speed thereby, propelling the 5G technology investments.

Infrastructure bids the most rewarding prospects for the deployment of 5G technology and service providers are investing heavily for connected micro and macro sites.

According to a study directed by McKinsey&Company, the 5G layer, small cell, and additional macro sites will represent a larger share of network spend between 2020 to 2025.

Cost study of new technologies present integral sources of ambiguity. These uncertainties are technological because standardization is ongoing, and future field availability of specific bands is not guaranteed, or economic due to the unknown costs of new equipment. And although high-level design principles are known, it is challenging to always assess network performance and study detailed deployment needs for all business cases.

cost

in

The cost effectiveness related to traditional 4G and below networks, unlike the users for 5G, will differ in the long run and depend on local circumstances.

Operators have two selections.

One is in which they will immediately incline and allocate expenditures to 5G investments with the hope of attracting profitable prospects. The latter took a more traditional approach in which they will try to postpone 5G expenditures as possible while their existing networks are being upgraded.

Even if operators delay its 5G expenditures, they still need to surge their infrastructure cost to cope with growing traffic. The historical increase of 20 to 50 investments percent per year will change.

We can group the infrastructure costs for the current network footprint into four ranges.

Upgrades to the traditional network, Addition of new macro sites Creation of the new 5G layers Addition of small cells

Currently, most expenditures go to the old network. Though, as providers improve their networks through adding more sites and the 5G layer. The intensified demand that will happen between 2020 and 2025 will force all operators to improve or create sites that will cater these areas with 5G networks, and these will represent a greater proportion of demand moving forward.

Network operators will need to develop approaches for 5G to manage with the expected growth in network cost. Typical measures will involve costsaving.

Providers need to advance strategies for 5G to cope with this expected growth in network cost.

Some procedures will encompass costsaving efforts and they will also need to explore more alternative methods, such as network sharing (the combined building of new 5G networks) and new income models.

Now, 5G technology is under pivotal time and will be unveiled in some markets later this year.

Mobile operators are preparing with a blend of excitement and anticipation. They know that it will open prospects to capture value from new 5G use cases and extensive adoption of the Internet of Things (IoT). At the same time, they are deeply mindful that they’ll have to increase their structural investments in this new technology.

While some operators will still have to upgrade their 4G networks to cope with growing demand, they are also keen to create new infrastructure to pave the way for 5G technologies.

Cu In one of their analysis FITCH Ratings said the pace of investment in the fifth generation (5G) technology is among the hot topics for credit investors in the telecommunications segment in the Asia-Pacific as the capital expenditure intensity in these markets currently and is now hitting around 25%-40%, which is above the region’s average.

In the Philippines, PLDT, Inc. Chief Revenue Officer Alfredo S. Panlilio, commenting for Smart Communications, Inc. its wireless arm that launched its 5G service commercially said that the company will increase its capital expenditure for 5G networks and plans to roll out more fiber lines and ports nationwide, as it aims to serve the whole nation with its now 2,609 sites as of April 2021.

In one of their analysis FITCH Ratings said the pace of investment in the fifth generation (5G) technology is among the hot topics for credit investors in the telecommunications segment in the Asia-Pacific as the capital expenditure intensity in these markets currently and is now hitting around 25%-40%, which is above the region’s average.

In the Philippines, PLDT, Inc. Chief Revenue Officer Alfredo S. Panlilio, commenting for Smart Communications, Inc. its wireless arm that launched its 5G service commercially said that the company will increase its capital expenditure for 5G networks and plans to roll out more fiber lines and ports nationwide, as it aims to serve the whole nation with its now 2,609 sites as of April 2021.

Meanwhile, margins are expected to remain at elevated levels as PLDT continues to pursue initiatives to improve productivity and enjoys economies of scale from its fastgrowing broadband network.

PLDT also noted that it is on track to meet its full year capex guidance of at least Php88Bil, after spending Php 63.3Bil in the first nine months. Given the higher data requirements of its subscribers, the majority of the capex spending will still be used to upgrade its fiber network and accelerate the rollout of its 5G networks.

PLDT has the beginnings of its 5G rollout with 6,400 base stations now equipped with 5G. In terms of how the new stage is spread out, the LTE market is still at 80%. And although there was a good increase compared to prior periods, 80% now are on 4G, less than 20% for 2G,3G and then 5G is an emerging part of the market and is now still about 1% of the total base.

PLDT also provided its current October 2021 update where the current subscribers for its 5G networks hits triple digit yearon- year. Which means it will add up a significant percentage to its revenue in the following years.

IV. Ethical Implications of 5G Technology 5G wireless technology makes large-scale data collection possible and feeds the fast-growing development and complexity of Artificial Intelligence (AI) and the Internet of Things (IoT). IV. Ethical Implications of 5G Technology.

However, this could present ethical concerns, questions, and dilemmas. To begin with, some would argue that while 5G offers higher download speed and could enable improved machine to machine communications, is 5G even necessary to human beings or is it just a marketing ploy so that mobile networks can justify price increases? This question becomes more serious and crucial when 5G technology is assessed in light of heightened privacy or security threats, health concerns, and potential moral problems caused by IoT complexities made possible by 5G technology. Below are some of the ethical implications of 5G wireless technology:

1. Security Threats and Data Privacy Concerns Networks prior to 5G had less hardware traffic points-ofcontact, which made security checks and upkeep easier to do (Kaspersky, 2021). With 5G's dynamic software-based systems, there are more traffic routing points and all these need to be monitored. Otherwise, any unsecured area could compromise the network’s security. The added speed and increased volume made possible by 5G technology will also prove to be challenging for security teams that were able to do realtime monitoring when network speed and volume were much lower prior to the advent of the 5G technology.

Another aspect that increases security risk is the fact that since some manufacturers do not give priority to cybersecurity, some low-end smart devices could be lacking this important feature.

As more smart devices are encouraged to connect to 5G networks, devices that have varied security features could mean numerous possible points for potential security breach.

2. Health Implication of 5G Technology to Human Beings 5G employs 30 to 300 GHz of extremely high electromagnetic frequency (EMF). While this radiofrequency radiation is categorized as non-ionizing, there has been scientific evidence showing that short and long-term exposure trigger health risks.

Short-term exposure was found to be capable of damaging human tissues through increase in body temperature. Aside from this, research from the US National Toxicology Program (NTP) shows that long-term EMF exposure can cause significant increases in heart, brain tumors, and certain cancer diseases.

Since 5G technology has substantially more EMF compared to 2G, 3G, and 4G wavelengths, it exposes the human body to increased simultaneous multiple EMF radiations.

Furthermore, 5G wireless networks need “small cell” antennas to transmit its millimetre waves.

These antennas are usually installed every 100 to 200 meters, hence, exposing people to higher risk of cancer and other diseases.

This health implication is an ethical issue because scientific findings showing the adverse effects of exposure to radiation are not as massively and commonly divulged to consumers, unlike the benefits of this technology. In a bid to secure more buyers, telecommunication companies and mobile network companies have failed to inform customers about this crucial risk. Aside from this, installing harmful and radiative antennas in residential areas without informing residents about the effects of such installations and without asking for their consent are unethical and violative of human rights.

3. Ethical Concerns Linked with IoT Development Enabled By 5G Technology Aside from those mentioned above, there have been some ethical concerns about particular IoT developments that utilize the 5G wireless technology. For example, selfdriving cars are currently being developed and with the advent of 5G technology, it is possible that we will see automated vehicles in the near future.

However, as these machines are being developed, ethical concerns have already surfaced especially since companies determine how the automated vehicles will drive through streets, decisions on safety and emergency measures could pose some ethical concerns. For example, in the design of selfdriving cars, companies, particularly their engineers, need to balance the safety of pedestrians and cyclists with the safety and interests of the passengers of the automated vehicles. There is also a need to balance speed and safety in order to prevent accidents, and to carefully assess the trade-offs between mobility and environmental impacts since small changes in the self-driving vehicles’ acceleration and braking can increase pollution emissions and energy use.

With the advent of 5G, smart houses will be more common.

However, there are ethical concerns about privacy, consent, and the possibility of using the features of smart houses to perpetrate domestic abuse.

While smart houses are beneficial particularly to senior citizens or older members of the society since they do not have to manually open heavy doors or windows, lower or increase room temperature, etc., these same features can be controlled by someone more technologically adept than they are and there is a possibility these can be used to inflict harm or domestic abuse.

Unless there is an option for older residents to manually open windows or doors inside smart houses, they are at risk of being trapped in case the system fails or if this will be used by anyone who would like to endanger them. Also, as discussed earlier, ethical concerns about privacy breach and lack of consent are evident here since smart devices inside the smart houses tend to collect data of its residents/users without their knowledge. Smart devices could also “eavesdrop” on those inside the house, selling their information to other companies.

The eavesdropping of residents or people inside smart houses is ethically wrong because it is disrespectful of the people using the smart homes and because companies have prioritized business benefits over the right to privacy of their consumers.

Now, more than ever, there is a need to have the necessary legal, governmental, and social safeguards in place to ensure that ethical concerns will be given importance and that technology will not be used to abuse or curtail any human right. While the ethical and moral implications caused by rapid developments of technology, particularly through the aid of a 5G wireless network, can cause worry or anxiety, we need to see that these rapid developments in technology also gives our generation the opportunity to be more aware of

he importance of ethics in our development as human beings and in the development of our society. With this awareness, we can learn more about ethics, discuss as a community the precautions and safety nets we need to set in place in order to keep technological advancements ethical and beneficial to human beings and to communities. Lastly, we can also decide, which technological advancements we need to reject or veer away from especially if these are not necessary, will only cause problems or human rights violations, or will only lead us to destruction.

V. Nation Implications of 5G

Building

5G technology is so powerful that we can only imagine the true power and potential of this technology. A lot of studies and research indicated how it can help a lot of industries from every nation of the world, may it be a developing country or a powerful economy. The economic and social value of 5G technology is so significant that it will not only benefit a specific industry, but the overall industry of a nation can be upgraded by 5G. Industrial Advancement -Speedy and efficient inspections (example: manufacturing industry) can be upscaled by the 5G activation of predictive intelligence Risk and safety (the workplace as a whole including the workers) of team members will greatly increase, which can minimize hazards and deaths by activating a lot of internet of things and sensors using 5G technology Reduction of operating expenses will be achieved by tapping the operational effectiveness of 5G applications and capability (example: logistics & machineries) Remote connection with sensors plus the use of drones in agriculture can effectively and efficiently reduce water and fertilizer consumption that can improve growth for all agricultural products.

Social Value Health and wellness are one of the social values that can be impacted significantly by 5G technology which can be linked to smart wearables, smart bikes, smart equipment (used for exercise), and other smart gadgets that we use daily to promote health and wellness within society Healthcare Industry Electronic health and remote care (Example: Remote surgeries) can be activated using 5G technology with its fast connectivity that can support even crucial surgeries in remote hospitals or clinics Automotive Industry Sensors built inside the cars, engines, windows, steering wheels, side mirrors, windshield, brakes, and others are very helpful and significant in the automotive industry especially with the rise of smart connected cars and all of this is going to be enhanced by using 5G technology Public Safety 5G technology will enhance public safety by activating smart traffic management system with enhanced crash report (real time) Environmental & Sustainability 5G technology can enhance adaptive air sensors including energy and water management systems that is used by every nation

Education Remote teaching will be greatly enhanced by 5G technology that can reach any remote location of any nation Smart City Cameras with 5G connectivity within the smart city will be greatly enhanced in monitoring roads, infrastructures, and other smart meter parking that the smart city has Public Transportation Smart public transportation can effectively use 5G technology for fleet management in controlling the routes for efficient use dependent on the application that will be used Smart Wearables Smart wearables that are connected and synched will be much more appreciated by effectively using 5G technology Smart Homes Connected and synched cameras at home with smart doors, smart windows, smart garage, and other smart gadgets at home will be effectively used by tapping 5G technology Smart Grid The 5G technology with the combination of application and forecast analytics can be used to promote smart electricity distribution across the nation

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MEET THE AUTHORS JAYSON O. NORA, ECE, is a registered Electronics Engineer and a bonafide member of Institute of Electronics Engineers of the Philippines. He works as a Professional Consultant related to Test Engineering for Tessolve Semiconductor, amultinational semiconductor engineering solution provider. Prior to joining his current organization, he worked as a Senior Test Engineer for three other multinational semiconductor companies; namely, ON Semiconductor, Analog Devices, and Microchip Technology. His work mainly focuses on the development of software and hardware to test semiconductor devices (integrated circuits). His job ensures that the chips are well tested by meeting all the design specifications before releasing them to the customers.

MAE JOI PIA SANTOS graduated from the University of the Philippines with a Bachelor of Arts in Development Studies anda Graduate Diploma in Urban and Regional Planning. She has worked both in the private sector and the government formany years.

MARA HUERTO is an Events Specialist with over 7 years of extensive experience in Marketing and the Events Industry. She is currently employed as a Senior Events Officer in Philippine OPPO which is a mobile technology brand. She handles all marketing events from product launches, media embargo to roadshows and other sustaining events of all the different phone series that OPPO may release or has released to the market. She graduated from De La Salle University Manila, where she earned her bachelor’s degree in International Studies major in European Studies.

MEET THE AUTHORS JACKSON BERDIN is working at FactSet Philippines, a financial and software company. He has been with the company for 10 years, started as a Research analyst (KPI), then Core Financials analyst, and now, as a Portfolio analytics Senior product developer. He manages and traisn product developers, analysts, and technical teams from Manila, Hyderabad (India) from the US with the FactSet main product lines under PA architecture.

ANNA ANGELICA S. ABARQUEZ took her undergraduate degreeof Bachelor ofScience in Marketing Management at De La Salle University. Currently, she is overseeingall team leaders of the Accounts management group that handles all Greenfield properties.

Any client concerns, from payment concerns, turnover concerns, project status, until title transfers.

MARK JEREMY DE OCAMPO took up Bachelor of Science in Commerce Major in Economics at the University of Santo Tomas. He is currently a Data Integrity Consultant within Data Management and Insights lineof business in WellsFargo.

He isresponsible forensuring that data qualityis maintained sothat data caneffectively support business processes like the Treasury and Finance line of business. He designs and conducts moderatelycomplex analysis toidentify and remediatedata quality or integrity issuesand process controlgaps within our system. He remediates wholesale customer attributes such as sector classifications, asset size, and country ofdomicile required forregulatory reporting aswell as riskcapital calculations needed by several lines of businesses within Wells Fargo.

THE METAVERSE The Next Big Thing on Virtual and Augmented Reality I. Technology Description The word Metaverse uses the prefix “meta” which is a Greek word for ‘beyond’ or “after” and is blended by the term “verse” which comes from the word “universe”. It implies a realm that is based on the real finite world yet transcends it with infinite possibilities. It combines different technological elements such as virtual reality, augmented reality, videos, applications, cryptocurrencies, the internet, and a variety of devices to create a space where humans can share a highly immersive virtual environment. Concepts about metaverse are vast and it mimics the real world where users can work, play, meet with friends, invest, buy properties or even do virtual trips around the world but also enables the creation of several other worlds limited only by the user's imagination. And as technological advancement marches forward and several big companies like Facebook and Microsoft are investing in the metaverse, growth on this multifaceted technology will continue at a rapid pace.

A. Technical Environment The term metaverse was first coined in a 1992 novel “Snow Crash” by Neal Stephenson. It Is a virtual world where people can create and control avatars using virtual and augmented reality that allows them to exist in both digital and physical environments.

But before the existence of metaverse which is in three-dimensional structure, its predecessor was the internet or the world wide web that offers the same experience rendered in a two-dimensional format. The three key aspects of the metaverse are presence, interoperability and standardization.

Presence is the use of senses or feelings within the virtual space and this presence is achieved through virtual or augmented reality equipment.

Interoperability is the ability to travel between virtual places using virtual assets like avatars and digital items or objects.

Standardization allows interoperability across the services and platform of metaverse using common or standardized technology to drive adoption. The writer Jon Radoff identified 9 megatrends that shape the metaver se. These megatrends are the combination of technology and social change which influence how the metaverse is being formed: Virtual Mainstreaming: Increase in the usage and trust of the virtual space also increases the metaverse’ scalability and the number of businesses that support it. The downside is the increase of exploitation of users through cybercrimes and online abuse or bullying.

Challenges by Open Platforms: In contrast to the domination of large platforms that act as gatekeepers or toll booths, open source and open systems creates a collaborative environment across networks of software developers that can democratize the metaverse in the future.

Walled Garden Ecosystems: Walled garden is a concept where users can create a virtual space and invite other creators to add, modify, participate and interconnect. It is similar to open source, however, main creators define the rules within the walled garden. This allows new opportunities for collaboration and discovery within the metaverse.

Machine Intelligence: Artificial Intelligence, deep learning and machine learning will increasingly populate the metaverse. It will impact the virtual realm’s components such as creative process, microchip designs, gesture recognitioninterpretation-prediction capabilities and will act as agents to support the user’s interest and preferences.

Rise of Cybernetics: Cybernetics is the integration of the sensory and motor system of humans with computers. It is slowly evolving from wearable technology into a social change where humans are transitioning to occupying virtual spaces through computers that are found not only around us but also on us and, possibly, inside us.

Low-code Platforms: The presence of Low-code and no-code application platforms (LCAP) allows creation of programs with minimal or less coding knowledge. This raises concerns on quality of work but on the other hand, the capability allows an increase on creator tools to create metaverse contents.

Simulating Reality: In the gaming area, 3D graphics are generated through ray tracing that can take a lot of time and processing power. But due to advancement of different components influencing this technology, real-time raytracing will rise along with the increased data feed, which adds more possibilities in the metaverse. There will be a transition from ‘Internet of Things’ to ‘Internet of Everything’ with integration of predictive analytics, real-time visualization and AI. Accelerating Distributed Networks: Accelerating connection speed impacts the metaverse where users are able to share real-time data and complex applications. While processing is slower in a centralized manner, computing will take place on the edge or the local devices or the network for faster turnaround. Transition to 6G will improve and speed up the metaverse connection.

Blockchain Adoption: Blockchains creates a decentralized authority with trustless data exchanges and permissionless participation or governance. This paves way to capabilities like smart contracts and decentralized applications.

‘Trustless’ means there is no need to trust any absolute authority because the trust is entirely the blockchain. This affects the future of online assets, online data and programmable contracts in metaverse.

In addition, Jon Radoff also provided the 7 layers of Metaverse that describe the value chain of the industry:

Layer 1: Experience (Games, Social, Esports, Theater, Shopping) Continuous evolution of games and immersive experience through the integration of events, live entertainment like music concerts, immersive theaters, social entertainment and content creations.

Layer 2: Discovery (Ad Networks, Social Curation, Ratings, Stores, Agents) Introduction of new experiences by users who either actively seek the experience or opted in through marketing activities.

Layer 3: Creator Economy (Design Tools, Asset Markets, Workflow, Commerce) Comprise of technology that creators use to create and manage the metaverse experience. Launching of different interfaces or ecommerce websites is possible without prior knowledge of coding.

Layer 4: Spatial Computing (3D Engines, VR/AR/XR, Multitasking UI, Geospatial Mapping) - Software and large categories of technology that allows the manipulation of 3D spaces and enhances the presentation of the real world with more information and virtual experience.

Layer 5: Decentralization (Edge Computing, AI Agents, Microservices, Blockchain) - Metaverse is controlled by multiple entities that promotes continuous growth through maximized options, interoperable systems and competitive market.

This allows independence and control of each data and creations by the creators.

Layer 6: Human Interface (Mobile, Smartglasses, Wearables, Haptic, Gestures, Voice, Neural) - Improvement on equipment and new ways for users to interact with machines and in the virtual space.

Layer 7: Infrastructure (5G, Wifi 6, 6G, Cloud, 7nm to 1.4nm, MEMS, GPUs, Materials) - Constant improvements of devices, software and hardware that connect users to networks. The purpose is to continuously improve the bandwidths and increase the speed of connection.

B. Trends in the Technology In 1978, MUD which is the acronym for Multi-User Dimension, is the early version of virtual environment with a concept similar to the current metaverse. It is defined as a virtual space that can be very big and detailed where users have characters that move around interacting with others.This fosters exploration, friendship, conversation, debate and even romance. The concept didn’t progress a lot until the advent of technology advancement where different companies or projects began to further work on the concept and develop the metaverse industry.

In 2020, the pandemic hit where everyone was required to stay home.

The situation pushed many users into the virtual realm and into the metaverse.

Trends related to metaverse that were evident in the past are as follows:

Advertisement in different gaming platforms (Gamevertising). Since gaming is currently the largest slice of entertainment in the metaverse, marketers and businesses have taken advantage of the opportunity to advertise in this rising popular platform.

Rise of digital assets and virtual possessions.

Virtual items, collectibles, commodities and cryptocurrencies are becoming more popular as different services and transactions are being held digitally.

Web or Meta societies. People turn to online for alternatives and new experiences as a form of either escape or leisure. The situation leads to the increase in online societies and social interaction within the metaverse.

Blend of spaces or Liminal spaces.

It is the combination of real and cyber experience.which is slowly shaping a new type of culture and the artistic landscape.

New retail fortiers. Intuitive, immersive, and engaging digitaltwin stores for augmented shopping experience.

Metaverse is said to be the successor of the internet which means that it is extremely important for the future of organizations, society and economy.

It is currently attracting a lot of interest from investors and the general public. And since there is no single entity that controls it, different companies around the world have started to develop and incorporate metaverse.to their business activities and services. It is a game changer to different brands and organizations who want to stay afloat and stay within the game.

SWOT Analysis I. Strengths Metaverse includes social connections, global infrastructure, and other real-world features wherein more than one person can be a part of the metaverse simultaneously. Facebook has photorealistic avatars and real-time, 3D reconstructions of real-world locations, which offer the current state of the art for VR. They build technology that will enable people to do things in the metaverse such as working environment, gaming, fitness, horizon home (socialization), education, and many more. Augmented reality and virtual reality control a highly interactive nature that allows the assessment of several occurrences in advance. Immersive technologies generate different experiences by blending the physical world with digital or simulated reality.

Augmented reality and virtual reality are two primary kinds of immersive technologies. VR app, VRChat, focuses solely on hanging out online and chatting, with no goal or purpose other than exploring environments and meeting people. Even though there are many ideas about the metaverse, most visions see human social interaction as the core.

Microsoft ensures that people who do not have AR systems can engage in virtual meetings with those who explore. The purpose is to allow people to join Meshenabled meetings on any device, such as smartphones, tablets, or PCs. It will immerse people in a computergenerated and physical environment. These will also be cheaper and more common than AR headsets.

Microsoft built an app that works on HoloLens. After placing on a HoloLens and initiating the app, a person can make an avatar to represent themselves and join a virtual meeting with other people whose avatars look like holograms. People’s heads, bodies, and hands can all move thanks to the information the headsets capture, and it is possible to talk with everyone, similar to a video call.

AR and VR find their complex method in health, thus increasing the accuracy of diagnosis for the disease.

Until now, it has saved the lives of numerous patients.

Physicians optimize the real-time visualization by controlling the headset and movement inside the 3D heart image while keeping hands sterile during the procedure. The objectives are to provide patient care, and cost efficiency makes this AR implementation remarkably helpful.

In gaming, Fortnite developed its product, hosting concerts, brand events, and more inside its digital world. That impressed many with what was possible as the primary vision of the metaverse into the spotlight.

Tencent produces a game development laboratory exploring the use of cloud gaming, virtual reality, and augmented reality in the gaming industry.

II. Weaknesses The equipment used in exploring metaverse augmented and virtual reality technologies is quite expensive. If we want to develop these VR and AR projects and approach the masses, we must spend a lot of money on these features. The rich ones will only access the modern education that takes advantage of the virtual reality environment. The poor would not afford it; hence, leads to creating inequality in education.

The equipment used in VR and AR technology, such as headsets, is heavy and has poor weight distribution. Users will not be willing to adopt this technology if it is uncomfortable because it ruins the user experience.

Virtual reality has numerous advantages for most existent fields of activity. It can also be a considerable disadvantage.

Conventional education is based on personal human communication and interpersonal connections. Virtual reality is quite different; it is you and the software only. This experience can bring harm to the relationships between students and human interaction.

The lack of flexibility in education, if we can be flexible, ask questions, get answers in class, practicing a virtual reality headset is an unusual experience.

f we use specific software programmed to work the same, we will not be able to do anything else except what we are supposed to do.

Like with any programmed software, something can usually go wrong. When things go wrong, students’ learning activity is over until the tool is fixed. This can be pretty inconvenient and also expensive. Therefore if a student has exams the next day and his virtual reality headset or equipment goes down, he will be incapable of studying and passing that exam. This was just an example and can happen at any time.

III. Opportunities Metaverse allows people to teleport instantly as a hologram avatar to be at the office without going physically, at a concert with friends, or in their family’s living room to catch up in the future. It focuses on creating tools for creators, commerce, communities, and virtual reality to make a vision of metaverse reality. People attended work from home and online classes due to the pandemic, interest in the metaverse skyrocketed.

Augmented and virtual reality enables different opportunities for immersive reality, allowing users to create AR videos and location-based communications. Users can make and

experience location-based AR throughout their own cities through the creations of other members.

Facebook creates more than 10,000 new jobs in the European Union as part of its plan to produce the 'metaverse,' a new model for the internet. Its longterm engagement could also support European countries in developing their immersive technology talents.

Companies such as IKEA use augmented reality in their business.

They leveraged the technology to provide their customers with the ability to experience firsthand how IKEA's furniture would look in their homes.

Augmented reality brings the store to the consumers. It is a different experience to set a virtual part of the furniture in your home and be able to see what it would look like if it were there.

The beauty supply company Sephora is not only allowing online shopping but includes an augmented reality makeup section where prospective customers can try on blush, eye-shadow, lipstick, lashes, and more. The products are virtually connected to the user's own face. Using the app is fun, helpful, entertaining and an experience for those using makeup and accessories.

AR gives children new levels of interactive experiences. The DrawyBook app has enhanced the whole innovative drawing method for children, enabling them to see their drawings through the DrawyBook tablet application and then add even more colors and shapes to their artwork, experiencing the awe of bringing their artwork to life.

In medicine, innovative doctors are practicing the benefits of VR technology in order to explore new aspects of medicine and guide others better. The augmented reality technology included a headset with a display the doctors could see through to the person. It allowed them to project images from Xrays or CT scans, for example, onto the body to see both simultaneously. As long as those images are lined up just right, it is as if surgeons have X-ray vision. While many medical applications are not ready yet, augmented reality is already in regular use for doctors and nurses in training.

AR gives safety technology for automobiles. Virtual windscreen uses head-up-display (HUD) technology and software-enhanced effects to give the driver real-time data that can interact with physical objects seen through the vehicle's windshield.

Additionally, carmakers such as BMW, Audi, and Porsche are experimenting with Augmented reality as a process of engaging with car buyers before they go to the car showroom, allowing them to experience the cars as they perceive them, choosing options and colors, or engaging with them in an AR-enhanced gamelike experience. To increase the effectiveness of training experience of the US Army, they use AR in training to allow them to experience

real-life workforce training without the risk of the actual training. Recently, they signed a 480 million dollar contract with Microsoft to license their HoloLens 2 technology for simulation, training, and combat. The US military's version of HoloLens, known as the Integrated Visual Augmentation System, or IVAS, features its version of night vision and will be used for training but will be fully proficient in actual combat. Soldiers see the IVAS as a "combat multiplier" that makes them a more dangerous fighting machine and enhances the effectiveness of their training, taking soldiers to a whole new level.

Companies take the opportunity to use AR in bringing real value to their business.

AR involves enhancing customer experiences.

There is already ROI for companies that improve their businesses with augmented reality. It can connect using HoloLens or Magic Leap goggles, or it can be made into products such as automobiles or more commonly incorporated into mobile apps. Many companies use AR to enhance their customer's experience, attract them to purchase products, intensify workplace training, and give immersive, interactive experiences.

IV. Threats One of the wrong sides of the metaverse is the disconnection that will occur between people and reality. That perspective in which technology fully captures human attention, distracting people from the real world completely.

Eventually, people will become addicted, especially the kids, to the metaverse, and our children will grow with it.

A user's privacy is in danger since AR and VR technologies can see what the user is doing. AR collects much information regarding who the user is and what they are doing. The user's privacy raises concerns and questions.

Sophisticated hackers could change a user's AR for one of their own, misleading people or giving incorrect information. Various cyber threats can make the content inaccurate, even if the source is genuine. These include sniffing, spoofing, and data manipulation.

Security risks and vulnerabilities in technology devices, mobile applications, and systems used by VR and AR will allow attackers to compromise information, steal highly valuable and sensitive intellectual property, send inaccurate information to AR headsets, and restrict access to AR systems. AR is exposed to security threats and unauthorized access by hacker attacks and malware. These attacks can lead to a refusal of service or overlay false information, leading to drastic consequences. For instance, a hacker can mislead a driver using an ARpowered navigation system and cause accidents. AR glasses are a crucial component of the technology, and it is also most inclined to compromise people's safety.

AR glasses and lenses made through inferior design and manufacturing processes can cause impairment in the wearer's perception and may lead to severe consequences depending on the application. Securing the compliance of AR equipment to the highest standards of quality and safety will guarantee the use of the technology, reducing users to the threats of AR.

Users of virtual and augmented reality games have reached many troubling effects, including harm to their vision, disorientation, and even seizures.

Furthermore, using VR provides a genuine risk of injury. Players have experienced broken bones, torn ligaments, and even electric shocks.

Exposure to virtual reality can agitate the sensory system and lead to signs such as sweating, dizziness, nausea, pallor, loss of balance, and many more, which are classified together under the term "virtual reality sickness." The possibility of students becoming addicted to the virtual world is also vital.

We have seen what video games and intense experiences do to people. The usage of drugs is a good example; if what people encounter is better than their everyday lives, there is a significant chance of them getting addicted to AR and VR experiences.

2.Business/Industry/Education Applications Prior to the pandemic, Virtual or Augmented Reality has been regarded as having a high potential and value already as we move to a more technologically advanced world. In fact, it has even evolved to what we call Metaverse to include the expansion of the other existing internet technologies such as virtual reality, augmented reality, mixed reality, virtual world technologies, social media among others. When the pandemic hit every country in the globe, digitalization became more imminent, more so the high consideration to the use or application of Metaverse. It became one of the “buzzwords'' in terms of getting that connection and experience that seems like you are having it face-to-face. Metaverse is more popularly used for video games and entertainment, but can this be applied to the different industries and business too? Are the different industries and businesses ready to embrace the emerging technology soon? Before heading to the discussion on the users of this technology, we have identified some of the key players who have built or are building the business of Metaverse

A. Tencent Tencent is a Chinese-based technology giant and it currently holds the largest video gaming company in the world in which they claimed to have set foot first in building Metaverse in their range of business such as video gaming and social networking. The company builds WeChat social media apps and a lot of video gaming apps, video streaming and e-Sport that uses advanced technologies such as the Metaverse. Similar to Tencent, SNAP Inc., owner of Snapchat – a social media app – has long been creating avatars that have customized and augmented reality filters to enhance their digital features.

B. Roblox Corporation Roblox Corporation is the maker of the video game platform Roblox that is a very popular 3D game for kids and adults. Roblox uses the metaverse platform already early on. This very engaging gaming environment attracts more and more players as players can create their own 3D scenes, choose their avatars and even interact with other players within the same game environment. Roblox had been successful in implementing

Metaverse in the gaming space as they had millions of gamers or users playing on a daily basis.

Note that there are other gaming companies that are already in the forefront of Metaverse which are Epic Games and Unity. Similar to Roblox, these gaming companies are building and thriving in the virtual worlds already and have established themselves in the virtual reality territory.

C. Microsoft Another big player in the Metaverse business is Microsoft. Microsoft’s strategy to place themselves in the realm of Metaverse is to penetrate the corporate setting and the pandemic is the big factor in igniting this strategy. Beginning 2022, Microsoft plans to roll out “Mesh for Microsoft Team” which will feature functionalities or capabilities of mixed reality like using an AI technology to customize the voice of the participants, avatars will be available as an option for participants who does not want to show their actual videos and will have immersive 3D meeting environment with

animations to make calls more engaging for all the participants. The company plans to complement the “Mesh for Microsoft Teams” with VR and AR headset for a better immersive experience.

D. Autodesk Autodesk is known for its 3Ds Max software that is used by Engineers and Architects for their 3D modeling, animation, design visualization works.

E. Nvidia Nvidia is a technology company that owns a platform called “Omniverse”.

NVIDIA Omniverse™ is a scalable, multi-GPU real-time reference development platform for 3D simulation and design collaboration and based on Pixar's Universal Scene Description and NVIDIA RTX™ technology.

This particular technology creates avatars being used for AI and simulations.

F. Facebook (Meta Platforms Inc.) In the recent news all over the world, Facebook has changed its company name to Meta Platforms Inc., with a clear vision of building its company into the Metaverse space. However, analysts and spectators gave their view on this change as they said that Facebook or rather Meta is too late to build themselves in this space as a lot of companies are already thriving and leaping into the next phase of the internet world.

Now that we have introduced the players of the Metaverse business, we can delve into the other industries that can benefit from Metaverse. Here are some of them:

Education and Training Application Education Traditional education entails students and teachers to go physically at school to maximize the learning opportunity as it fosters more interaction and human touchpoints.

Teachers can monitor students during the actual class ensuring that students are paying attention to the lesson and they answer the exams themselves. Prior to the Covid pandemic, education institutions most especially here in the Philippines, followed the traditional classroom arrangement, and even the most technologically advanced school of the country still does their classes in an onsite/school building.

However, the pandemic pushed the schools to move to a virtual/online class or even the modular education due to the high risk of compromising the safety of the students, thus giving the opportunity for the Metaverses to penetrate this industry.

Metaverse in the education industry is applicable as it enriches the studying experience of students. As an example, subjects like history and science can be created in an augmented reality or virtual world where students are able to immerse themselves in the information, events, visuals, etc. of these subjects being brought by this emerging technology. Not only is it visually appealing for students to study history or science or any other subjects, but the recall of this information is higher than just reading books because of this technology’s ability to put in a different level of experience to the student’s studies.

In some parts of the world, where technology is way too advanced, there are medical schools that use Metaverse in studying human anatomy or even trying to practice how to do surgery using augmented reality. Metaverse will deep dive into the smallest parts of the augmented human body that may be difficult to do using a physical cadaver. It also has the advantage of being able to reset the program to start the process all over again.

Metaverse is a breakthrough in education, and it could revolutionize the school’s method of teaching.

Today’s generation heavily rely on technology in almost all the things that they do, and schools should find a way to adapt to this, not just because it is pandemic but because digitalization is inevitable.

Training From the typical classroom training, now to a blended learning, Metaverse can be applied easily. More and more companies are shifting their work arrangement to either a full workfromhome set-up to a hybrid work which is a combination of onsite and remote work arrangement, hence, there’s also the shift of the training department to review and revise their strategies on how employees can still get the quality and impactful trainings regardless if they are reporting to the office or workingfrom-home, thus, this emerging technology can come to play to supplement the training programs wherever the employee is. Training can easily adapt, shift, or use Metaverse in no time if there is budget. Gamification of the training

programs and retention are some of the critical success factors that can be identified if Metaverse is to be applied in training.

With the use of the Metaverse in training, organizations can save costs. For example, an employee can do a self-paced virtual training using this emerging technology without having to leave 2-3 full days of work. Cost can also be saved using this as it can replace some of the training programs that are being conducted by a physical trainer and the trainer can focus on more value-adding activities. For complex training programs that may involve simulations, Metaverse can create the actual environment that organizations may not need to disrupt their actual operations to simulate a situation or event to train an employee. This saves time, effort, and money from disrupting the work of others or the actual operations.

Training is one of the most important applications of this emerging technology as it can enable companies to develop a more efficient training environment while reducing the cost of training programs as it does not require any physical attendance from trainers. It also preserves the actual operation or equipment from being disrupted as the training will be simulated in an augmented environment mirroring the exact equipment or operation.

Healthcare Industry In several studies conducted about the rise of the Metaverse, Healthcare Industry has been identified as one of the industries who has very high growth potential in terms of the application of this emerging technology. Healthcare companies which include hospitals, pharmaceutical companies and the like in developed countries have started incorporating Metaverse in their operations.

Just imagine the future of healthcare having been able to leverage on the use of Metaverse as surgeons/doctors prepare for their surgeries especially those complicated and risky procedures. With the use of this technology, there will be pre-operation immersive experiences for both the doctors, nurses, other hospital staff and the patient as all those involved prepare themselves in the actual surgery. In this way, doctors and all others will be able to anticipate any challenges while doing the actual surgery by being able to simulate the actual operation using Metaverse. Post surgery, patients manage the pain of being operated.

Metaverse can help support patients in managing the pain brought about by the surgical procedure. Immersive patient care or pain management can be configured in this technology as an enhanced feature to help patients recover.

Metaverse technology can help patients understand the healing process, diagnostic, medical data, treatment, etc without the need to wait for a nurse or a doctor to visit the patient.

Using this technology, hospitals can do ad hoc gamification and let patients use this to help cope with pain and discomfort of the treatment being done with them.

reMetaverse can also aid in driving the other programs of the hospital that are not yet known to patients. This emerging technology can be used to introduce the programs of the hospital, making it interactive with the people who visit the hospital. It also serves as entertainment while learning to patients and others who are waiting for a long queue as it distracts them from being frustrated and stressed.

Other medical treatments can be enhanced by Metaverse. Some of the treatments that can use this emerging technology are: Therapy, Psychological Disorders, Phobias, Sleep Disorders, and the like, as the technology can be set-up to provide a gradual situational environment to train or treat patients from initial phase to full recovery.

Marketing and advertising of the Healthcare companies can be done through this technology as well as this will get more engagement from people.

Brand recall also will be higher using the Metaverse as consumers will be able to be submerged in an almost realistic environment brought about by the 3D visualization.

Another use of Metaverse is being able to provide an immediate virtual and immersive assistance to patients who visit the hospitals for check-ups, laboratory procedures, etc. This includes the augmented reality of being able to tour the hospital facilities, being able to know first hand the doctors and services of the hospital while waiting for their queue or if they do not know exactly where to go with their medical concern.

In Pharmaceutical companies, Metaverse can aid in simulating the manufacturing process of medicines or vaccines by repeatedly trying out what works and what not.

Banking Industry The banking industry can also benefit from Metaverse. A lot of the transactions in the banking industry are being managed face-to-face, although banks now are progressively transitioning to online banking. However, there are still customers who still go to the physical bank to do their transactions, inquiries, settle their concerns, etc. This area can improve the customer experience by supplementing this emerging technology. How? Customers always want

to be attended personally with their inquiries, transactions, or concerns.

Using the virtual or augmented reality, customers can be immersed in a virtual environment where they will feel that they still are being attended personally by a bank teller or bank employee.

Simple programmed algorithms that can mimic the simple interactions between the bank and the customer can aid in a greater experience at a bank. As simple as quick payments, explanation of some of the features of the programs, going through the processes for a specific instruction, visualization of forms/requirements/data, quick tour of the bank programs, etc. Customers will surely have a different level of experience in handling their finances if the banking industry will be able to align and adapt to this emerging technology of Metaverse.

Commercial Industry (Automotive, Retail, Real Estate, etc) As consumers, we always take a look at the products we buy thoroughly before we buy it. We look at the characteristics of the product, its quality and the other tangible attributes of it to make sure we buy the right product without any damage, snug, dent, defect, etc. In order to meet this, consumers usually go to the shops, malls, showrooms, etc to be able to have that experience of scrutinizing the product first hand. For those working in the commercial industry, of course, they would like to attract customers by showing-off the actual product.

Sellers must be able to provide product options to consumers and that consumers will be able to try it on to convince them that this is the right product that they are looking for.

However, as the world shifts to doing the transactions online or virtually, the commercial industry must be able to adapt accordingly. This industry should be able to move forward to using technology to be able to recreate the consumer experience which is similar to the physical buying experience as it was used to be before. This is where Metaverse can come. For example, integrating Metaverse into these businesses such as the retail companies will allow shoppers to view the product in 3D and be able to actually try the product itself virtually. Not only will shoppers be able to try the product on, but augmented or virtual reality or an immersive environment can further enhance the experience by suggesting accessories, colors, styles, etc. which may take a lot of effort if done physically in a shop. This emerging technology can also accurately do body measurements to match the size of the product to the body type of the shopper, thus, being able to add more value in the shopping experience of the consumers In the Automotive industry, Metaverse can create that virtual showroom for customers who would like to know more about the specs of the cars they are interested in buying. Metaverse can have in-depth details of the car that can be embedded in the technology and the customers will have that immersive experience to navigate through the car features and specifications.

Not only that, virtual or augmented reality can make the test drive in an immersive environment so much so there’s less to no accident risks involved compared to the actual test drive. If the customer is really that interested in buying the car already, then the consumer can just arrange for a final test drive of the actual car.

This is no different in the real estate business when customers want to see the actual house or condo unit to help in deciding whether or not the customer will be interested to buy. Metaverse can give that immersive environment of the house or condo to the customer for his consideration. This may further help the real estate business level up their game as it also attracts consumers to be in an immersive environment where they can tour the property virtually without having to exert much effort to commute and move from one location to another.

Engineering, Construction and Manufacturing Prototyping of large-scale or even any scale of products is costly and difficult to build. It involves a lot of effort, money and resources to begin with and we also can expect some challenges, damages, mistakes along the way, while companies perfect these prototypes.

Product design also entails a lot of hard work and revisions if done physically or manually. These industries can easily adopt the use of Metaverse to make product development, prototyping, blue print, etc. more efficient. This emerging technology will not replace the physical processes being done in these industries but it will definitely add value to these

companies so that they can be more connected, predictive, resilient and efficient.

Engineers, architects and those involved in manufacturing will be able to plan, create, test, audit using virtual or augmented reality. It is very convenient for them to use this technology as everything can be reset, erased, rebuilt, etc. without being able to waste a lot of resources. They too can be able to perform testing in an actual environment before they even share it with the management and the public.

Cost-Benefit Analysis A. Total Cost of Ownership (TCO) Capital Investment, Hidden Costs Start-up companies in AR/VR industries are taking advantage of the crowdfunding or seed funding offered by venture capital firms. For example, Avataar.me, a company based in India is engaged and develops AR/VR technology to boost the customers’ on-screen buying and browsing experience.

Avataar had raised and secured $7 million of funding from Sequoia Capital India. As a startup AR/VR company, it utilized the sourced capital investment in extensive research and development. (Roy, 2020) In the Business Plan released by CineMedia Studios, a company engaged in developing virtual reality entertainment products, it planned to raise additional capital to fund more projects in its already well-received line. (Virtual Reality V2 Business Plan - Executive Summary, Present Situation, Objectives, Financial Projections, Management, n.d.) The company needs substantial capital infusion to enhance their existing products to serve not only the target markets, but also to expand potential markets. CineMedia would like to raise $2 Million that would be used and allocated to finance the following:

Marketing Advertising Equipment Research & Development Operational Expenses Title Development Total

$100,000 $200,000 $200,000 $500,000 $1,000,000 $2,000,000

In the recent article released by Reuters.com on October 27, 2021, it revealed that Facebook invested Billions in metaverse. According to the article, Facebook created a separate. augmented and virtual Facebook Reality Labs business unit. Facebook will soon publish the financial results of its Facebook Reality labs. However, it is estimated that the investment in the hardware division would reduce the 2021 overall profit by $10 Billion.

(Culliford & Balu, 2021) In today’s age, the trend and surge of utilization for the information and communication technology in the corporate environment is very rampant – not to mention is the increase in the total cost of ownership for the technologies developed overtime. With this notion, the adoption of these technologies are expected to gain a result of various economic benefits and an overall improvement for the business performance. Companies and/or the organizations who would like to be ahead on the arising innovation of technology must factor in the underlying costs of the progressive advancements.

According to Fade (2019), the augmented and virtual reality applications are set to hit a hundred billion of investment revenues for 2020 and forward. Businesses are becoming more open to capitalize and invest in innovative technologies such as AR-based assistive systems – samples of these businesses are Facebook/Meta, Snapchat, Microsoft, and many others.

However, in reality, how much do we really spend on AVR technology? Here are to name a few capital investment and hidden costs from the article of Fade in 2019:

1. A 360-3D Interactive Video - This is relatively relevant as many companies and schools are already utilizing this advancement especially for video training purposes. This technology simulates and records what you see on the actual site of the business and/or the educational institutions. - Costs: USD $10,000 for each minute filmed plus the post-production of the video.

2. CG-based Environment Applications - Computer graphics-based applications are often used in making films, television programs, commercials, and printed media. We can also see this through computer video games and the like. - Costs: Between USD $50,000 and $80,000 for a non-gaming mobile VR application.

3. CG-based Gaming Applications - This is just the same as the computer graphics-based applications above however these are often used in computer video games and the like. - Costs: Between USD $50,000 and $100,000 for gaming-based projects.

4. Marker-based Augmented Reality - It works by a scanning marker that subsequently activates the augmented experience. It works for when the device needs to know what the user is looking at. - Costs: USD $5,000 to $10,000 per 3D modelled object interaction and UI 5. Room Scale Augmented Reality - This type allows the user of the AR experience to walk into a room that is already pre-scanned and overlayed. It is all about putting all location information on the screen about the objects which can be seen from the user’s camera. - Costs: $40,000 to $50,000 per room depending on the number of objects.

Other costs related to the AVR’s development costs are the following and their expenses depends on the main objective of the project or which type of augmented or virtual reality devices they are being created for: 1. Research and Development Costs 2. Project Management Methodologies 3. Device Testing and Interactive Experiences 4. Delivery Device and Platform B. Direct and Indirect/Strategics Benefits As the global pandemic happened from 2019 up to this date, we’ve begun to transition into the virtual environment set-up where we can all transact and do things seamlessly through the use of innovative technology and e-commerce. This comes from purchasing goods and supplies online, taking online classes, having a virtual workout session, working into a virtual office environment, and a lot more. Hence, taking a step forward the advancement of the technology through augmented and virtual reality would progress our virtual set-ups long before pandemic goes away and this comes forth with its direct and indirect strategic benefits. An article from Higgins in 2017 has stated that augmented and virtual reality could help reconstruct, boost, and authenticate the safety industry by having an immersive view on the devices providing a real-world scenario and real time information to the users who do experience a critical situation. It is obvious that companies are trying to make things work despite the pandemic and through virtual set-ups. Therefore, industries, companies, schools, organizations and establishments must continue to

develop, evolve and embrace new technologies that would help to create a safe space and safe work environments that would benefit their employees.

Direct and indirect strategic benefits that these industries could take from augmented and virtual reality are the following as per the study of Teuteberg in 2018 for measuring tangible and intangible benefits in augmented reality through the AR assistive system for construction. He divided the utility effects and benefits of the AVRs into two groups – focal firm and competitive environment. With these two, he was able to subcategorize the levels into four beneficiary levels which are – task to division to corporate and to market levels.

C. Financial Analysis (ROI, Payback Period, Return on Assets, Return on Equity, etc.)

According to alliedmarketresearch.com, the augmented and virtual reality market is valued at $15 Billion in 2020 and is projected to reach $455 Billion by 2030, with a compound annual growth rate of 40.7%. While the metaverse market reached $47.69 Billion in 2020, and by 2028, the Metaverse market would be worth $828.95 Billion. With this market size, and growing market use of Metaverese and AR/VR technology in online gaming, education, entertainment & media, retail, and service and manufacturing industries, many companies are highly investing in research and development to develop competitive Metaverse, AR and VR technologies. (Gaikwad & Rake, 2021) Many technology companies are investing heavily in Metaverse/AR/VR to get a slice of market. Some of the publicly listed companies involved in AR/VR technologies are the following with its respective financial performance: Except for Snap, the creator of snapchat, and Roblox, the creator of a famous children's online game, all other tech companies engaged in AR/VR technology had been profitable for the last few years. Their earnings ratio and return on equity and assets had been increasing.

Qualcomm, who claims to be the world’s leading wireless technology innovator, showed to be the most profitable among the above-mentioned tech industries with 153% ROE in 2019 and 94.63% in 2020.

Among the companies mentioned, Nvidia and Qualcom were able to use its assets effectively. Nvidia’s ROA resulted in 183% and 188% return in 2019 and 2020, respectively’ while Qualcom had 134% and 151% ROA. The total assets of these companies can be compared as follows:

4. Ethical Implications Following the community’s exposure to Virtual and Augmented Reality, and due to powerful computer systems nowadays, designers can develop complex interactive virtual worlds. These immersive environments provide countless opportunities — both good and bad. However, organizations and designers are not obliged to ethical restraints. There is also the element of hacking and the issue of unethical exploitation of the technologies. These ethical questions emerge partly because Virtual Reality technologies are extensive and hard to classify and distinguish, and because it is difficult to foresee their short- and long-term impacts. Virtual Reality technologies also raise concerns over its ethical complexities. Traditional moral responsibilities do not always transcribe to the digital world. One argument that is essential to ethical responsibility for virtual reality is that Virtual reality solutions must incorporate ethical analysis into the design process, and exercise propagation of best practices. In the digital era, ethical and professional responsibilities to society and the public must be uphold by organizations and individuals. Creativity should be integrated with diligence. Decision making, ethics, and critical thinking should go together throughout the development process. Development needs to include future predictions, forecasting impact, evaluating, and elaborating on possible consequences, and identifying any issues with openness and transparency.

(Kenwright, 2019).

In this section, as the proto-Metaverse experiences will become the fundamental building blocks for the Metaverse future, designers will have the responsibility to create an inclusive framework that is primarily beneficial to the society.

The Metaverse is community-based, therefore it should be built to serve the society Ethics refers to the moral “goods” of society and is ultimately organized around a concern beyond the self.

Hence, when making Metaverse experiences, value to the community should be placed higher than the value to the business. Younger generations these days will be the primary beneficiaries of the Metaverse, so they would anticipate that their favorite brands reflect themselves and their personal values.

The Metaverse, therefore, offers a unique and exciting opportunity for brands to begin anew; to proudly express their values through thoughtful experiences that service an evolving society.

The Metaverse should add to reality, not substitute it If the hyperconnectivity encountered during the height of the pandemic has taught people anything, it is human beings quite like reality. As foundations of the Metaverse are starting to be built, Metaverse should not attempt to substitute the reality, rather Metaverse should add to the reality, such as how these new experiences add value to day-to-day life; what real-life challenges do they solve, and what real-life needs do they bring off. Otherwise, Metaverse will simply be created with more unwanted noise for audiences to sieve through.

The Metaverse should be diverse and inclusive If the Metaverse is to truly be the next revolutionary period of the internet, it should be considered how to democratize access so that as many people as possible can participate in it as possible. This means ensuring that diverse voices are fundamental in shaping the Metaverse as a whole

and not just making Metaverse experiences available across a broad spectrum of future devices. By developing an inspiring and alluring platform that recognizes a variety of perspectives, Metaverse will have the potential to promote a deeper sense of belonging, ownership, and pride amongst this evolving creative and user community, making the Metaverse a platform that people will want to build up and participate in for the succeeding years.

5.Nation-Building Implications Earlier this month, the Seoul Metropolitan Government announced that it will be their first major city to enter the metaverse.

According to the article written by Julie Gaubert, Provisionally called ‘Metaverse Seoul’, it intends to establish a virtual communication ecosystem for all areas of its municipal administration which covers economic, cultural, tourism, educational and civic service, in the three stages from next year. The South Korean capital invested with KRW 3.9 billion (about €2.8 billion) into the project, as a part of the city’s mayor Oh Se-hoon's 10-year plan. The goal is to make Seoul “a city of coexistence, a global leader, a safe city, and a future emotional city.” If this project materializes, citizens of Seoul will soon be able to put on their Virtual Reality headsets to meet city officials for a more convenient virtual consultation. They will also be able to attend mass events virtually. Seoul Metropolitan Group (SMG) will start developing their own metaverse platform by the end of 2022. Once it becomes fully operational in the year 2026, it will accommodate a variety of public functions including the virtual mayor’s office, and spaces serving the business sector; a fintech incubator; and a public investment organization.

The metaverse platform shall commence with a virtual new year’s bell-ringing ceremony this coming December. And in the year 2023, Seoul plans to open “Metaverse 120 Center,” as a location for virtual public services where avatars will address concerns and issues of the citizens which is currently being addressed only through physically going to the city hall. So far this plan only provides limited details about what devices that Seoul citizens will use in order to access the metaverse platform.

Although the city officials highlight that the aim is to widen access to public city services, regardless of geography or disabilities. However, specialized devices could be a barrier for many people. VR headsets are still being sold for $300 and $600 which are not as broadly accessible as smartphones and computers.

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MEET THE AUTHORS RUSSO B. ASILO is a relationship associate at Metrobank. He provides service to clients who have been seeking commercial loans by packaging credit lines suited to the client’s business necessity. He handles the daily internal and external communication to ensure the accuracy and completeness of the legal and approval documentation in processing loans.

ERSEAN GRACE CANTO is an IT Developer specializing in Salesforce CRM under a BPO company. She is a former Business Analyst for a pharmaceutical client where she held an administrative role and participated in multiple IT projects. She acted as a liaison between client, leadership, IT department and production team. Being a registered nurse allowed her to merge medical knowledge with IT discipline. She aims to continuously improve and widen her horizon in the fields of healthcare, IT and business.

PAMELA JANE DUCUSIN has recently joined as an SAP Solution Specialist focusing on SAP Ariba in IBM Corporation which is an American multinational technology corporation and a leading cloud platform and cognitive solutions company providing integrated solutions that leverage information technology and knowledge of business processes. She has gained in-depth knowledge with different SAP Ariba solutions obtained in working with SAP Ariba projects for over 7 years.

MEET THE AUTHORS MICAH LONTOC is a Senior Order Management Specialist in a financial services business of the London Stock Exchange Group providing information, insights, and technology that enable customers to execute critical investing, trading and risk decisions with confidence. She has been in the company for 3 years specializing end to end process in order to cash processes, acts as a team manager, and mentors peers on a daily basis.

DENNIS PALAD is a Court Attorney VI at the Supreme Court of the Philippines. He started in 2013 at the Office of the Court Administrator and was involved in the administrative supervision of the first and second level trial courts. He is currently at the Program Management Office whose main task is in the program implementation, monitoring and evaluation of judicial reform programs nationwide. Prior to his stint at the Supreme Court, he was an Assistant Department Manager at the Investigation Division of the Philippine Deposit Insurance Corporation. He started his career as litigation and corporate lawyer at the executive department and in a government corporation, respectively.

JONAH SISON is currently working as an HR Manager in Vertiv which is a US-based Technology company that provides critical infrastructure to various companies especially in the data center industry. She’s been in the company for more than 6 years handling the end-to-end talent life cycle from hire to retire, in partnership with the business leaders and managers.

FACIAL RECOGNITION SYSTEM IN SECURITY AND SURVEILLANCE

I. Technology Description

Experts in this technology loomed and helped in the development especially in terms of accuracy. Truly,

Facial Recognition Technology continues its development worldwide through the decades. Falling

technology advanced further as Facial Recognition is now widely available and became part of our daily living.

under the category of biometric software, this technology allows the identity of the individual to be identified or verified through the person’s face details.

The captured image shall be analyzed and compared in the database through the lines and patterns it generated (Thales Group, 2021). The said technology was invented in the 1960s by innovative computer scientists Woody Bledsoe, Helen Chan Wolf and Charles Bisson. Funded by the King-Hurley Research Group, the initial intent of research was to create a database of 10 face photos of different people and check if machine learning could identify new photos of the individuals. After the early research’s success, the US government became an integral part of the said project’s progress in the succeeding years.

a. Technical Environment With the current technology, many Facial Recognition applications have been deployed in different industries and activities. Therefore, different system architectures and requirements will depend on the application being built in the Facial Recognition system. In addition, proper algorithm requirements also play an essential role in creating an efficient Facial Recognition system.

The three most used Facial Recognition Technologies are Identity Verification (validation of the claimed identity), Analyst Driven Search (manual search of face within the Facial Recognition gallery or database), and

Automated Search (use through video analytics wherein cross comparison between different templates such as video frames to identify the person based on similarity threshold).

There are various complex elements for the system to work.

The methods being used in this technology have improved throughout the years. Also, with the rising need for new applications, it will also need new requirements as the technology progresses.

1. Persistent Server or Desktop Systems The server or desktop system will host the System Software and Facial Recognition libraries.

However, this will entail a high cost as it shall need high processing power and memory resources. It also lacks scalability and portability as it only must be stationed in one place. Therefore, organizations that use Facial Recognition systems as Analyst Driven Research usually rely on Persistent Servers or Desktop Systems.

Accuracy algorithm is one of the primary focuses of the Facial Recognition market.

The GaussianFace algorithm created

by Chaochao Lu and Xiaoou Tang of the Chinese University of Hong Kong has superseded the human performance of facial recognition with 97.53% accuracy rate, leading the human capacity by a 1.01% margin (Tang, 2014).

2. Embedded Device This system hosts the Facial Recognition libraries on-edge or cloud systems for processing in portable devices such as mobile phones or other end-user electronic devices. However, since this system's hardware capacity is limited, template generation and comparison speed might be slower than usual.

On the other hand, deployability algorithms must also be considered when it comes to performance efficiency. Based on an article by Rank One Computing, there are metrics to test the Facial Recognition algorithm's deployability, such as template generation speed, template size, comparison speed, and binary size. However, the efficiency will be affected by the application and hardware that will be used. These are the different hardware components that can accommodate the technology.

3. Scalable Cloud The cloud resource management system is used to host from different server resources. The said system works best for workflows that have unpredictable throughputs which will have a pay-per-usage and will be highly scalable. However, poor network bandwidth may delay or prevent image transition to and from the cloud.

4. Network Facial Recognition System will be hosted between the linked devices. Speed of transmission

through the bandwidth in communicating between devices will vary on the properties of the networks.

Facial Recognition Process The first step is face detection, wherein the neural networks are programmed to spot the face's landmarks and identify them from other aspects of the image.

After which the algorithms will come up with a biometric face model. The image captured will be converted into digital information, which is numerical code called faceprint. Lastly, the faceprint will be compared and matched from the database of known faces. b. Trends in the Technology Today, Facial Recognition has been widely-used by companies like smartphones to unlock your mobile phones and even identify your face in Facebook and your friends can tag you on their timelines. Might be useful for some but for some adults they disagree due to data privacy wherein it is powered by Artificial Intelligence (AI) which the technology is known for Machine Learning. Facial recognition was first introduced in 1964 and used to map facial features, after which it evolved to identify hair color, color of eyes, lip thickness and other specific things that can easily be identified in the 1970s.

After a decade linear algebra began and was used for facial recognition. In 2000, the National Institute of Standards and Technology (NIST) and the

Defense Advanced Research Projects Agency (DARPA) coordinated with different agencies to create a database for facial images.

Face recognition grand challenge was launched during 2006.

This challenge was designed to support the United States government in having a source or to push through facial recognition as based on studies the rate of facial recognition found that it has become more accurate for the past 10 years.

From 2010 to the present time facial recognition has been part of our daily lives, since most of the population are already using smartphones or going to the mall to have their temperature check. Companies such as Apple and Samsung that are huge in technology use facial recognition as part of their security to unlock phones through face identification -- paying thru applications via facial recognition. In Facebook, when uploading pictures your friends can easily be recognized through their algorithm and you can tag them in an instant.

Giant companies such as Microsoft, Google, Facebook and Apple are competing on who will be on top for high accuracy rate on facial recognition. Facebook Deep Face program was announced in 2014 wherein two pictures belong to one individual and ended with 97.25% accuracy. FaceNet with a new record and high accuracy of 99.63% in June of 2015 from Google wherein it used a new algorithm and artificial neural network. The technology then was linked to Google Photos to identify and sort pictures of Google account users and easily tag them if the system recognized the users.

In February of 2018, companies such Megvii (China-based company), IBM and Microsoft found that the tool has high error when recognizing women with darker skin and men with lighter skin. In May of 2018, Amazon has already promoted their face recognition service that was named Rekognition to law enforcement agencies, with cloud-based service. In July same year, it was reported that Amazon facial recognition falsely identified individuals that are arrested for crimes but they should be arrested. In 2018, face recognition algorithms outperform the most accurate algorithm in 2013.

Today, facial recognition is used for the following industries.

Health can track patients' use of medication more accurately and support pain management procedures. Next is for banking and retail, since the pandemic happened. Some banks can now ask customers to open their accounts online since in Q2 of 2020 64% of the primary accounts were done online in a total of 36% branches in the United States alone. Lastly, used for security law enforcement to combat terrorism and crimes. Some of the importances that lead to this technology are to accelerate and support investigations, to track and identify criminals, to find and identify exploited children, and to find missing and disoriented adults such as Alzheimer’s, amnesia, epilepsy and dementia.

C. SWOT Analysis

Table 1: SWOT Analysis of Facial Recognition System

Strengths Many industries have been using Facial Recognition technology to improve their daily operations and customer experience. Law regulatory bodies across the world use this technology in increasing the safety and security of their constituents. Even military operations are now using this technology to identify possible terrorists. In 2011, when dozens of prisoners escaped the Afghan Prison, the Facial Recognition system recaptured them. Since more providers of this technology are in the market, it is now more accessible for consumers to purchase this. For instance, commercial establishments are now using this technology as a security measure. Shoplifters on record can now be easily identified when they enter the stores.

On the other hand, Facial Recognition is more convenient than biometric technology with fewer touchpoints compared to fingerprint or iris recognition. In Roissy Charles de Gaulle airport in Paris, facial recognition has replaced fingerprint recognition in 2018 for the PARAFE system (Automated Fast Track Crossing at External Borders) (Thales Group, 2021). Convenience and faster transactions for consumers have

also given the Facial Recognition Technology use in retail, such as facial recognition payment by Alibaba in China through smartphones. Yahoo has even predicted that 3,000 stores will implement the Facial Recognition payment system by year-end.

Weaknesses The demand for FRS has grown throughout the years, but it also comes with increasing requests to improve the technology continuously. One of the constant concerns is the inaccuracy that leads to the production of false identification.

The law enforcement agencies that use it to identify possible suspects to crimes might investigate other individuals because of misidentification (Deeks, 2018).

The lowest accuracy for demographic groups is that darkskinned females have error rates higher than 34% compared to lighter-skinned males.

The National Institute of Standards and technology assessment with different face recognition technology providers shows that 189 algorithms are least accurate with women of color. (Najibi, 2020) Addressing these concerns could lead to incorporating human review of facial recognition when it comes to the conviction of a crime (Du Pont, 2020)

Another Facial recognition concern is that it is illumination dependent. Since it uses patterns to detect faces, increase or decrease of contrast due to illumination, facial expression or occlusions due to the variation in the appearance of facial images poses a complex problem in the accuracy of facial recognition (Shah et al, 2015).

Opportunities The possibilities of using this technology is still immeasurable.

Nowadays, architectural design of Facial Recognition technology has been constantly developed for more creative use. For retail in Thailand, this technology is being used to learn customer behaviors by identifying their emotional reactions. In healthcare, an app called Face2Gene maps the face of the patient through the uploaded photo with 130 landmarks and matches facial characteristics to rare genetic diseases. Stanford University has also developed a headset with a computer vision system called Superpower Glass that tracks facial expressions and prompts cues of emotions that caters to the coaching of children with autism to recognize facial expressions (Grifantini, 2020).

Threats As the impact of Facial Recognition Technology widens, policies that protect the general public's rights have been put into place.

However, different organizational bodies, both public and private sectors, can abuse the technology. In March 2020, the FBI agency stored 50% of adult Americans' information in their facial recognition database without prior consent by the people involved. Another concern is the database sharing between different government agencies. Breach of information by poor management of data or use of information for identity theft are some of the issues being brought up regarding this technology. Hackers can also break into the biometric data and get into any victim platform that uses the facial architectural code as security access to potentially abuse the access grant (Deeks, 2018). As the technology enables real-time surveillance and identification of the general public, legal control has not been fully implemented to address the potential harm it can cause. It gives threats to privacy, and the ability to be anonymous in public may not be possible. Data privacy laws must be expanded to cover different protection regarding the usage of facial recognition data. The European Union data protection law could be followed when it comes to including misuse of facial recognition as a punishable act (Du Pont, 2020).

II.Business/Industry/Education Applications Security & Surveillance The recent advancements in Artificial Intelligence have allowed the Facial Recognition System to be used in different applications across vast industries. In addition, the adoption and growing openness of the world have driven the Facial Recognition technology market growth. As a result, in 2020, the market size of Facial Recognition technology was valued at 3.86 billion, with a continuous compound annual growth rate of (CAGR) of 15.4% until 2028. (Grand View Research Inc, 2021).

The Facial recognition system is widely used in several industries, such as healthcare, finance, and mobile industry. It is primarily used as a source of verification of an individual using their face, seen in mobile phone makers as Apple has used their facial recognition technology on their iPhone X and continued with current models.

Through this technology, it is used to access your phone by simply using your Face ID. Back in 2010, Facebook used facial recognition to encourage more people to tag their family members and friends in their photos and videos.

Reported in 2019, Facebook released information in which Facebook’s face recognition technology does not recognize the users as strangers giving them an option to turn on the face recognition and turn off. Facebook implies and assures its users that they do not share their face recognition with third parties.

Nowadays, safety and security have been the utmost significant concern of the people. The government and private sectors have implemented the use of biometric software to identify, recognize and authenticate individuals that will be used to add another level of security.

Face recognition is also used in retail stores combined with surveillance cameras to scan shoppers' faces to identify suspicious and potential shoplifters.

In government establishments, especially airports, Facial recognition helps ease operations of security agencies to monitor the people who come in and out of their respective countries. FRTS can identify people who overstay or maybe under criminal investigations.

August 2018, Washington Dulles International Airport, located in the United States of America, made their first arrest using facial recognition catching an impostor trying to enter the country. Several countries are slowly adapting to the wide use of facial recognition in countries like China. In China, the government has adopted the most heightened public surveillance system. They have recently installed 200 to 626 million CCTV cameras last 2020 (Mordor Intelligence, 2021).

Facial Recognition System plays a significant role in law enforcement agencies as it can be used to find missing people through surveillance and match and identify the criminals..

III.Cost-Benefit Analysis a. Cite Total Cost of Ownership (TCO) Facial recognition technologies are widely used for safety and security. There is an increased interest in the use of facial recognition technologies for personal, public, and business protection. In the use of facial recognition technology it is important to choose what type of hardware that will be used at the same time it is important to also carefully choose the software solution that will be used, as this will affect the costs of ensuring the required computer power. On average a software solution costs about $30,000 per year per camera.

b. Cite Direct and Indirect - Strategic Benefits Undoubtedly facial recognition technology is a great way to increase security and safety. It offers a more advanced surety feature compared to complex passwords and fingerprint identification.

But increased security and safety is not the only thing facial recognition technology can do. Facial recognition technology can also do other functions. Processing of payments: the technology can be used to process transactions by recognizing the person’s facial features instead of using credit cards or e-wallets. The use of facial recognition provides a much safer option than credit cards and e-wallets, since information such as account details or card details can be seen in these things and can be subjected to misuse or theft.

Retail convenience: It allows retailers to recognize customers and pull up their past transactions or purchases thus allowing the retailers to create a personalized shopping experience for their customers. It can also help shop owners recognize potential shoplifters allowing them to avoid theft.

Table 2: Hardware Costs of Camera with capacity

All other components include: servers and power consumption. Aside from hardware cost and software cost, there are also other costs that must not be overlooked. Hidden costs include: Technical support Cameras Cables

Employee tracking: it can be used to monitor employees time in and time out more conveniently. Instead of having the employees swipe their id cards or scan their fingerprints or manually check track them, the system can automatically identify the employees and monitor when they come in to work and leave work. Access to differently abled people: Facial recognition technology provides a much more accessible way of identification for differently abled people. The other forms of biometric identification such as fingerprint scanning or iris scanning may not be applicable to some people.

c. Financial Analysis The market for facial recognition technology is growing and is still expected to grow more in the future. In 2020 the market value for facial recognition technology is 3.86 billion dollars and it is expected to reach 12.11 billion dollars by 2028. It is forecasted to have an annual growth rate of 15.4% from the year 2021 to 2028.

Figure 1: Asia Pacific facial recognition market size by technology, 2017-2028

Moreover most of the revenues from facial recognition technology came from the retail and ecommerce segment, responsible for 21% of the revenues earned. Next on the list is media and entertainment and third is banking, financial services, and insurance.

Figure 2: Global facial recognition market share by end use 2020

IV. Ethical Implications As the growing usage of facial technology systems increases, industries such as law enforcement and security agencies increase the use of their facial technology recognition systems. To help them identify suspects and victims by matching their databases of photos and videos.

The thought of usage catching criminals proposes a great idea.

However, there are some ethical implications for facial recognition technology that could violate the civil rights of a human being.

Facial recognition technology is far from perfect. The accuracy of the system could pose a risk of racial discrimination. FRTs rely on the data developers feed-in running the system. According to some facial technology companies such as Deep Face, their facial recognition system is 97.3% accurate (Yaniv, 2014).

FRTs are not entirely precise because their developers are not wholly accurate as they can have different databases to pool their recognition system. According to research, most facial recognition systems falsely identify race as they falsely identify black and Asian more likely than white faces.

Due to accuracy problems, problems also arise as FRTs could also mistakenly accuse women rather than men because the developers' feed would likely have more women in their pool of databases than men.

Facial Recognition System is seen in malls, mobile phones, roads, and it could pose some serious threat to human rights.

Researchers and advocates are proposing regulations to protect the rights of the people using this type of technology. As the right of freedom also plays, establishments and private entities could create an excuse to provide extra surveillance in a particular event or place.

However, these private entities could also use these data for their benefit, violating the right to privacy of a human being.

The stated technology becomes part of our daily lives more as it shows presence even on our devices. It is not impossible if tech companies will soon realize that they can sell our facial data for high-cost profits. Despite the lack of regulation of such the Facial Recognition System, it has greatly helped humankind ease their business operations and

daily activities. However, as this type of technology grows sophisticatedly, it is the future of humanity and here to stay with us for better or worse. As it also pairs in aiding in developing Artificial Intelligence.

Law regulators should create design frameworks to help regulate arising ethical issues in facial recognition systems. This way, critical issues facing FRTs such as racial discrimination and the right to privacy can be addressed appropriately, protecting users' rights.

V. Nation-Building Implications Over the years, Manila has been among the cities with high crime rates. The United States - Overseas Security Advisory Council (OSAC) for example, has assessed Manila as a medium threat location in terms of crimes.

Addressing the crime rate is one good example of an application of face recognition technology.

In 2020, it was reported that Manila City government has started installing facial recognition surveillance cameras within Metro Manila, which has an additional capability to recognize plate numbers of vehicles and works even in low-light conditions. This advancement has been seen as a valuable tool in crime prevention, and tracking persons of interest.

This year, the Philippine National Police also acquired more than 2,500 units of body cameras that are also equipped with facial recognition technology that can identify people of interests like criminals, and local and international terrorists.

However, still many privacy advocates are concerned about the accuracy of the said technology in recognizing people based on facial structures, which has a high chance of error based on face changes such as cosmetics and accessories, besides the fact that these advocacy groups have some doubts also on the judiciary system, where they cite possibilities of using the same technology for extra-judicial killings, and privacy invasion. This is despite the previous warning issued by the supreme court stating the installation of these cameras should not cover places where there is expectation of privacy, unless there is prior stated consent from the individual people whose rights to privacy would be affected.

When executed properly, this technology can greatly help in suppressing crimes and ensure the security of the public. However, as these technologies are relatively new, it is important for the local and national government to set clear rules as to how we can truly leverage these technologies to get the most out of it, without compromising the privacy rights of its people. On a global scale, the United Nations Office of the High Commissioner for Human Rights’ (OHCHR) recent report on the right to privacy in the digital age recommends governments to stop the use of facial recognition technology in public areas in real-time until they can prove that there would be no significant issues with the accuracy of the technology.

REFERENCES A brief history of facial recognition - NEC New Zealand. NEC. (2021, May 14). Retrieved from https://www.nec.co.nz/market-leadership/publications-media/a-brief-history-offacial-recognition/ Leon, H. (2020, January 29). How LSD, nuclear weapons led to the development of facial recognition.

Observer. Retrieved November 15, 2021, from https://observer.com/2020/01/facial-recognitiondevelopment-history-woody-bledsoe-cia/ Benefits of Facial Recognition Applications for Your Business. (2020, April 17). Retrieved from. https://itechindia.co/blog/benefits-of-facial-recognition-applications-foryour-business/ Metro News Central. (n.d.).

Retrieved from Metro News Central: https://metronewscentral.net/manila/metro-cities/manila-equips-cctv-cameras-with-facialrecognitionfeatures Facial recognition: Top 7 trends (tech, vendors, markets, use cases & latest news). Thales Group. (2021, June 24).

Retrieved from https://www.thalesgroup.com/en/markets/digital-identityandsecurity/government/biometrics/facial-recognition Facial Recognition Market Size, Share & Trends Analysis Report By Technology (2D, 3D, Facial Analytics), By Application (Access Control, Security & Surveillance), By Enduse, By Region, And Segment Forecasts, 2021 2028.

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EMBS. Retrieved November 15, 2021, from https://www.embs.org/pulse/articles/detecting-faces-savinglives/ Jamal Hussain Shah, Muhammad Sharif, Mudassar Raza, Marryam Murtaza, SaeedUr-Rehman, Robust Face Recognition Technique under Varying Illumination Journal of Applied Research and Technology, Volume 13, Issue 1, 2015, Pages 97-105 Kaspersky. (2021, August 23). What is facial recognition – definition and explanation. www.kaspersky.com.

Retrieved November 15, 2021, from https://www.kaspersky.com/resource-center/definitions/what-is-facialrecognition Olszewska, Joanna. (2016). Automated Face Recognition: Challenges and Solutions. 10.5772/66013.

Racial discrimination in face recognition technology. Science in the News. (2020, October 26). Retrieved November 15, 2021, from https://sitn.hms.harvard.edu/flash/2020/racial-discrimination-in-facerecognitiontechnology/ Rauenzahn, B., Chung, J., & Kaufman, A. (2021, August 6). Facing bias in facial recognition technology. The Regulatory Review. Retrieved November 14, 2021, from https://www.theregreview.org/2021/03/20/saturdayseminar-facing-bias-in-facialrecognition-technology/ What is the cost of a facial recognition project. (n.d.). Retrieved from https://ntechlab.com/blog/what-isthe-cost-of-a-facial-recognition-project/.

REFERENCES Written by Steve Symanovich for NortonLifeLock. (2021, August 20). What is facial recognition? how facial recognition works. Norton. Retrieved from https://us.norton.com/internetsecurity-iot-how-facialrecognition-software-works.html World Economic Forum. (2021, October 5). This is best practice for using facial recognition in law enforcement. Retrieved from World Economic Forum: https://www.weforum.org/agenda/2021/10/facialrecognition-technology-lawenforcement-human-rights/ US

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OSAC:

MEET THE AUTHORS LIZETTE KAYE ASLARONA is a Doctor of Pharmacy graduate from Centro Escolar University Makati. Currently, she is working as an Associate Editor in Pharmaceutical Marketing Asia of MIMS Philippines. MIMS(MediMarketing) is one of the leading providers of drug information, medical education content, marketing services, and integrated clinical knowledge. Lizette is part of the quality control department where she checks on drug information printed media and digital platforms in Asia-Pacific. Lizette is now in her fourth term taking her MBA and expects to finish it by 2023.

GEMIMA DE CASTRO is currently the Sales Training, Engagement and Creatives Manager of Amaia Land Corp., a subsidiary of Ayala Land Inc. that caters to the economic residential - real estate segment of the group. She is a graduate of Hospitality Management from International School of Hotel & Restaurant Management. Gemima is now in her fourth term taking her MBA at Ateneo Graduate School of Business.

DENNIS GARCIA is a Financial Management Accounting graduate.

Currently, he works for Concentrix formerly Convergys. He’s been with the company for 14 years and he’s been handling multiple accounts such as technical and sales accounts in the company. He currently handles sales for both Manila and Cebu sites with a total of 65 heads including agents and leaders. His team provides accounting software to different customers from mid to large scale business.

Denz started his MBA journey in 2018 and hopes to finish it by year 2022.

MEET THE AUTHORS ANNE DOMINIQUE MATUTINA is a Hotel and Restaurant Management graduate from the University of Santo Tomas.She is currently working as a Cruise Representative for Royal Caribbean International. She provides services to the North American Market, assisting them in their cruise vacations. Anne started her MBA with Ateneo Graduate School of Business in 2019 and hopes to finish it by 2022.

MANUEL PEREZ III is a graduate of Bachelor of Science in Biology at the Far Eastern University. He is currently working as a specialist for surgical equipment for Alcon Philippines where he handles sales and clinical support for various equipment for eye surgeries across the whole of North Luzon. He is currently on his third term of his MBA at the Ateneo Graduate School of Business.

JONATHAN VENTURA is a marketing graduate of San Beda College.

Currently, he works for Focus Global Inc. under its sales and marketing department. He handles CG brands like Coleman, KitchenAid, Oster and InstantPot for hypermarket and wholesaler accounts. He started his MBA in Ateneo Graduate School of Business last year (now on his fourth term), and expects to finish it by 2023.

The Effect of

ARTIFICIAL INTELLIGENCE

on Businesses

I. Introduction Artificial Intelligence (AI) uses computers and technology to simulate the human mind’s problemsolving and decision-making abilities. It is the art and science of creating intelligent machines, particularly clever computer programs. It utilizes computers to perform like the human intellect, but AI doesn’t have to be limited to the physiological capabilities of humans.

Four possible AI aims or definitions that distinguish computer systems based on reason and thinking vs. acting: Human approach: Systems that think like humans Systems that act like humans Ideal approach: Systems that think rationally Systems that act rationally Artificial Intelligence, in its most basic form, is a subject that combines computer science with large datasets to solve problems. It also includes the sub-fields of machine learning and deep learning, both of which are usually referenced when discussing artificial intelligence. These are AI algorithms that aim to develop expert systems that can make predictions or classifications based on data input.

II. Technology Description a. Technical Environment Based on their functionalities, AI can be classified into three (3), namely: 1. Artificial Narrow Intelligence (ANI) These systems are created to resolve one single problem and would be capable of performing that task with higher effectiveness and efficiency. They normally have narrow capabilities, like suggesting a product/service for an e-commerce user or forecasting the weather. '

2. Artificial General Intelligence (AGI) These systems are defined as AI that has a human-level of cognitive function, across a vast variety of domains such as computational functioning and reasoning, image processing, language processing, and so on.

AGI systems work by Narrow AI systems that communicate and analyze logically.

3. Artificial Super Intelligence (ASI) These systems would be able to outdo all human capabilities.

This would include taking rational decisions and building emotional relationships. Once AGI has been achieved by humankind, AI systems would rapidly be able to master ASI to improve their capabilities and advance into disciplines that we might not even have thought of.

Out of all the three (3) types of AI enumerated above, only ANI exists in the market as of today.

ANI systems are able to mimic human functioning in very specific contexts, and even exceed them in a lot of situations, but only transcends in very controlled environments with a limited set of parameters. .

We’re still a long way away from building an AGI and ASI system.

Today, AI systems have a wide range of real-world applications.

Below are examples of AI applications: Content Creation: Copywriter tools can help you write Instagram captions, product descriptions, Facebook content and startup ideas.

Examples are Copy.AI, Copysmith and Headlime.

Speech recognition: It is a capability that employs natural language processing (NLP) to convert human voice into a written format or what we know as speech-to-text.

Many mobile devices use speech recognition in their systems to do voice searches, such as the iPhone. Siri—or enable greater texting accessibility.

Customer service: Along the client journey, online virtual agents are replacing human representatives. They respond to commonly asked questions (FAQs) regarding issues such as shipping or give tailored advice,

such as cross-selling items or recommending sizes for users.

Messaging bots on e-commerce sites with virtual agents, messaging applications like Slack and Facebook Messenger, and functions often performed by virtual assistants and voice assistants are examples.

Recommendation engines: AI algorithms can aid in the discovery of data trends that can be utilized to generate more successful cross-selling tactics by utilizing historical consumption behavior data.

This is utilized by online businesses to give appropriate add-on recommendations to customers throughout the checkout process.

Automated stock trading: Automated buying and selling of stocks based on the owner/user value input. Once the value hits what has been placed, the computer will automatically buy or sell the stock.

These automated algorithms make millions of dollars daily.

B. Trends in the Technology 1. Intelligent and Hyper-Automated Business Processes AI is becoming essential in the way organizations automate their business processes due to its ability to follow basic tasks and routines based on smart programming and algorithms. The reallife application of AI in businesses will be discussed thoroughly in Part III of this paper.

2.

Emphasis on Responsible AI Development Due to the relevance and AI’s reliance on big data nowadays, there’s always the risk that ill-prepared or unethical data will be used to create AI systems. As more organizations understand the relevance of designing AI that assists their operations in an ethical manner, a number of AI developers and service providers are starting to offer responsible AI solutions to their customers. The ethical implications of AI will be thoroughly discussed in Part V of this paper.

3. AI and IoT Working Together A lot of tech companies still struggle on how to collect actionable insights from the non-stop inflow of data from the extremely widespread usage of Internet of Things (IoT) devices among both organizations and personal users. AIoT, which is the idea of merging artificial intelligence with IoT products, is one field that is starting to target these pools of unused data, giving AI the power to translate that data quickly and intelligently.

4. The Emergence of Decision Intelligence Decision intelligence (DI) is where AI models are used to analyze wide-ranging sets of commercial data. This is one of the newest AI concepts that takes many current business optimizations a step farther. AI predicts the flow of supply chain and the consumer behavior.

c. Strength- Weakness- Opportunity- Threat (SWOT) Matrix (Strategy Formulation)

III. Business/Industry/Education Applications A. Business Applications: Creating efficiencies to grow Shared Services and Business Process Outsourcing The shared services industry has a large demand here in our country. They process large volumes and complex documents, which could strain your resources, take much time, and can entail higher costs. It means there could be opportunities lost when you try to expand your services and offer a more competitive costing. With a unique AI technology, it can capture data from thousands of documents with increasing accuracy and minimal employee input. The AI platform’s usage reporting helps the organization optimize performance at deal, team, and individual levels.

Another application of artificial intelligence in the business is targeted audience marketing. According to a study by Serra, Scalzo, Giuffre, Ferrara and Corsello conducted in Italy, the pandemic year saw an increase in frequent smartphone usage of smartphones. Due to the pandemic, a lot of people turned to their gadgets to continue connecting with people and as a means of entertainment. A Bangladeshi study by Hosen, et. al. even calls it problematic. But in the perspective of companies like Google and Facebook, this meant an increase in customer traffic using the internet for browsing and tailor-fitting search results with the use of AI. Using target marketing with AI has benefits, and one of them is that the users can have an accurate experience of product suggestions which are rooted from cookies and algorithms. For example, when you search about Birkenstock on Google, the moment you jump on to Facebook or Instagram, there will be various advertisements that will show you other Birkenstock sandals which you may also purchase on other websites. This will all lead to an increase in sales, both from the search engine platform which will promote the products and the brands which own the products. In essence, AI acts as a predictability function and it really helps improve consumer experience. The consumers, however, have divided sentiments because some fear that their personal data become vulnerable or at risk of exposure.

B. Education Applications: b.1 Global Learning Educational materials have been evolving through time, from the age of using chalk to cartolinas, manila papers, until today with the usage of multimedia. Technology has shown impactful transitions, and most recently by facilitating the learning of any subject anytime, anywhere, so long as you have an internet connection. There will be more choices of available courses online and with the aid of AI, students can be able to learn wherever they are as new inventions are being introduced.

b.2 Student experience Artificial intelligence is also present in voice assistants which deliver texts from books or other reference materials if the student opts for it instead of reading the materials.

Voice assistants aren’t new but they are also part of the ever evolving AI. These are present in smartphones as well, like Siri for Apple and Google for Android. As users of voice assistants, we can see that these technologies have evolved and improved through time. Voice assistants are especially important during study-from-home setup because the educational modules are all cascaded online. Students have also developed individualized learning because of the adjustment caused by the sudden shift to an online class setup. According to an article by Rangaiah, firms like Content Technologies and Carnegie Learning are in the process of developing a new form of instruction design and platforms for students from all levels. It will adopt AI for offering teaching, administering exams, and giving feedback. It will also detect knowledge gaps, and redirect to fresh topics whenever suitable. b.3 Instructor experience In the future, we can expect AI to have a good portion in the education sector. This will come full circle when AI also helps instructors in administrative tasks such as grading exams and providing feedback to individual students similar to voice assistants that students enjoy nowadays.

IV.Cost-Benefit Analysis A. Total Cost of Ownership (TCO) A huge part in IT buying decisions is the consideration of the total cost of ownership (TCO).

Companies can help customers reduce cost by understanding the workload demand and the customer's needs (Acosta, 2021).

The following are the lifetime costs incurred by enterprise software such as cloud software, off the shelf software and custom software that is developed by a company (Diog, 2015): 1. Startup costs - These are incurred when getting new software into production.

These start-up costs include, but are not limited to the following: Software - These are upfront software costs plus user licenses which off the shelf software usually include.

Hardware - The cost of servers and storage to run the software and other costs which may include disaster recovery and backup. These costs do not apply to cloud software.

Implementation - These are the costs of setting up, configuring and testing the software for production use.

Data Migration - The cost of moving data from the old to the new system, which includes data format changes

User licenses This determines the number of users, features and access that can be granted for the selected server product.

Training - These are costs to train employees to use the software. This includes helpdesk and system administration employees to support the product.

External system interface costs - These are costs to integrate the software with the existing systems in the organization.

Customization - These costs related to customizing off-the-shelf software to the way a company works.

2. Operational costs are incurred while the software is in production and may include the following: Software maintenance and support - This allows the purchased software to get all the patches and upgrades required. This typically costs 20-25% of the total purchase price per year.The maintenance and support for custom software is an ongoing cost and is usually greater than the initial build cost over the lifetime of the product.

This, however, does not apply for cloud software.

Patches - The cost of applying bug-fix patches and security.

User licenses - This may be additional users for the product or annual costs to maintain the licenses.

Training - These are costs related to system enhancements training as well as new users from the company due to growth or employee turnover.

Enhancements this applies to custom software where the company must pay developers to provide new functionality as needed. This may include documentation and project management costs.

User and administrative support - This is the cost to support the systems which includes helpdesk, system administrators and developers.

Staff management costs may need to be considered in this category.

Disaster recovery and high availability - this ranges from backups to hot failovers and may include regular testing.

Data center - These are costs to run the software in the data center, which includes power, cooling and floor space. This also includes indirect costs like security, data center maintenance and management of the data center.

Downtime - These are costs that may impact the business when the software is unavailable.

Depreciation - Writing off the capital cost of the software and the hardware that it runs on.

Upgrades - most vendors continually upgrade their software, and this would be included in maintenance costs. These are usually upgrade costs for off-theshelf software in order to continuously meet the company's needs.

Security - These are costs to keep an application secure. This does not apply to cloud-based software as it is paid for by the cloud vendor.

3. Retirement Costs - These are the costs that a company incurs when retiring a software.

Data export - These costs are related to exporting the data from decommissioned or retired software to a new system Archived systems - Some systems may need to be kept running in the data centers in a read-only mode for reference.

Inactive licenses - some companies keep all user licenses on the system to preserve audit trails which includes archived software.

Artificial intelligence (AI) allows combining it with data analytics methods and traditional highperformance computing (HPC) workflows that can speed scientific discovery and innovation processes. To solve problems at a massive scale, requiring HPC systems, Researchers and data scientists are developing new processes.

Data analytics and AI workloads benefit from an HPC infrastructure that can scale to improve performance (Acosta, 2021).

The table above shows the Total cost of ownership summary while the image below shows the 3-year TCO for all environment types (Source: https://infohub.delltechnologies.com/section-assets/h18136-tco-analysis-dell-emc-hpc-ra-for-ai-da-sb)

B. Direct and Indirect/Strategic Benefits Artificial intelligence (AI) is projected to have a significant impact on marketing strategies, sales repositioning, and other related factors that could influence the behaviour of the clients and consumers. Building on existing research as well as significant contact with practitioners. It was subsequently suggested that it be viewed as a multidimensional framework in terms of its impact on AI, with intelligence levels, task types, and whether AI is integrated in a robot all being considered.

Many organizations and companies are adapting artificial intelligence (AI) technologies to cut costs, optimize efficiency, increase revenue, and improve customer service and experience.

Businesses should consider implementing the complete range of smart technologies, including machine learning and natural language processing, for the best results.

Artificial Intelligence Impact on Business With the right AI implementation, the business may gain an ability to: Automating and optimizing common processes and operations, sometimes known as automation, can help you save time and money

Boost productivity and operational efficiencies, particularly in the manufacturing process Create quicker business decisions based on cognitive technology outputs If your AI system is set up correctly, you can avoid mistakes and "human error".

Even if you think that the quality process is protected Use insights to predict customer preferences and deliver a better, more personalized experience.

Generate huge amounts of data to generate quality leads and grow your customer base Increase revenue by identifying and maximizing opportunities Enable analytics for intelligent advice and support Increase your expertise by providing According to a recent Infosys study, the main driving force behind the use of AI in enterprises was competitive advantage. Then the following incentives arose: Management decisions Specific business, operational, or technical problems Internal experiments Customer requests Unexpected solutions to problems Derivatives of another project

Benefits of AI and humans working together Research shows that AI alone does not always give the best performance. AI technology is great for advancing or replacing subordinate repetitive tasks, but companies often achieve maximum performance gains through the collaboration of humans and machines. To get the most out of this powerful technology, think of it as a way to enhance human capabilities rather than replacing AI. Through this collaborative intelligence, humans and AI actively enhance other complementary strengths such as leadership, teamwork, creativity, social skills of the former, speed, scalability and quantitative ability of the latter. It has also been shown that this collaborative approach has the potential for new benefits never before imagined. AI systems not only streamline the way businesses work today, but also enable change to act as an agent for change in all organizations, changing the behavior and ways of the company.

Organizations and companies capable of performing this collaboration can build a competitive advantage and optimize the best opportunities available.

This collaboration has the potential to radically change the structure of the company, the way products are developed, and the way employees are hired and trained.

AI Opportunities for Business Whatever the reason for considering AI, AI can change the way businesses work. All you need to get started is an open-minded attitude and a willingness to accept new opportunities anytime, anywhere as much as possible. We know that this can cost a lot of money, it will be an investment. It can be expensive at first, but it reduces the cost of processes that AI needs to be able to automate later. This requires a good plan with a detailed action plan on how it will be implemented.

But keep in mind that AI is a new technology. As a result, it changes rapidly and can present some unexpected challenges.

As mentioned earlier, the cost of the entire automation process can be an issue. Organizations that lack internal functionality or are unfamiliar with AI often need to be outsourced, creating cost and maintenance issues. Due to the complexity of intelligent technology, it can be costly and can incur additional repair and ongoing maintenance costs. Computational costs such as data model training can also be additional costs. Below are other AI restrictions related to: Depending on what you are trying to implement, implementation time can be long Integration challenges and lack of understanding of current systems

Ease of use and interoperability with other systems and platforms There are a few things to consider when choosing AI-driven technology: Customer privacy Potential lack of transparency Technological complexity C. Financial Analysis Return on investment is a metric used to measure and assess performance and is expressed as a percentage or percentage. There are several ways to calculate the ROI, but one of the most common formulas is to divide the net income (profit-cost of capital) by the cost of capital.

The equation is applicable to different industries and looks like this: Return on Investment (ROI) = (Gains – Cost of Investment)/Cost of Investment If you know the value of this formula, the calculation is easy. In reality, it takes time to understand if the expected and actual profits are the same, or at least close to each other.

Investment costs are also approximate. Therefore, the point is to predict these values ​as accurately as possible. Mental work begins here.

Experts need to consider a number of factors in determining whether investing in a project is a good idea.

. Below are some factors that should be considered: Transaction fee - In business, these are the costs incurred when buying or selling goods or services.

When applied to software engineering, transaction costs can mean the time spent building, testing, and deploying solutions.

Development costs include IT infrastructure and employee compensation, required working hours, and maintenance costs.

Tax - For example, if you need to hire more people to develop your product in-house, consider raising your payroll tax.

Inflation - You can calculate and compare excess or actual revenues against inflation and nominal revenues (revenues that do not consider costs).

Opportunity cost - If you didn't intend to invest it in a project, think about how you can spend that money If these values ​can be quantified, it is also important to decide what to consider as profit (revenue) so that they can be incorporated into the ROI calculation. Think of profit as income earned over a period of time. The sales achieved through increased productivity can also be used in calculations.

Next, choose a potential solution, determine if you need a machine learning product, and focus on steps that will help you estimate your return on investment.

The return of investments (ROI) in the artificial intelligence (AI) projects can be seen in various forms and is not only limited to pure cash profit. The value add of these projects can include the following (Kosterski, 2021): Customer experience and service Higher employee productivity, increased customer satisfaction and retention, improved employee engagement Streamlining processes with automation Lower operation costs IT operations and infrastructure Improved profitability Planning and decision making New products and services Building insights and prediction Resilience in changing environments

In a survey made by Deloitte and ESI Thought lab across 1,200 organizations across a wide crosssection of industries and world markets, it mentioned that the average ROI of AI investments is 4.3% in the leaders of the market and are widely using AI and 0.3% for beginners whose organizations are just starting to use and implement their first AI project. It is said that the average expected ROI can reach up to 30% in the coming years. The payback period for AI investments ranges from 1.2 to 1.5 years.

Source: Driving ROI through AI (https://econsultsolutions.com/roi-ai/)

To turn AI into profitable investments, the following may need to be considered (Kosterski, 2021): Define needs, business value and set up the goals- The implementation of machine learning should be tailor made as each business has its own characteristics and needs.

Plan the funding for the implementation, monitoring and optimization of the software Verify the skills of the team - AI applications are usually complex and may require additional training to develop new skills with the team. Outsourcing may be considered should require skills are not available within the organization Plan the company's data strategy - The more data obtained through the AI product may result in better Machine Learning algorithms and increase possibilities for optimization.

Choose the right technology - Understanding the challenges or problems in the organization can help determine the right technology to be implemented to help address or resolve the issues.

Test the product before scaling in the organization Creating a proof of concept can help demonstrate the business value for all stakeholders and decision makers.

This also helps verify the idea and its possibilities with reduced cost and time for implementation.

V. Ethical Implications Artificial Intelligence in business would be the future of the organization. It makes the workload lighter while being more efficient. AI is perceived as a good path for technology, but there are some ethical dilemmas that we could encounter while we are transitioning to AI. 1. Loss of Jobs As we automate the system in running the business, those who are doing it manually might not be needed anymore. It only needs a little manpower to make sure that it is running smoothly. There are reports that state that in the year 2030, 800 million people worldwide will lose their livelihood to give way to AI bots.

2. Wealth Inequality Our economy is based on compensation and is based on their contribution to economic progress. Most companies base their compensation on the hourly work of their employees. When shifting to Artificial Intelligence, business would cut down manpower and drastically cut down the compensation. Those who shifted to using AI will make more money.

3. Security AI technology is so powerful that some want to use it for their personal gain. AI is associated with cybersecurity and all the information fed to them or learned by AI could be used in malicious attacks to its creator or to their competitors.

4. Humanity A question poses on how humans treat this AI and how it would affect our behavior. AI bots are getting better and better and are efficiently doing conversation and interactions. Some say that AIs could also be granted rights the same as humans and many people pose this as a threat.

5. AI Errors AI is programmed to learn. They would have a training phase where they detect processes and patterns. Test phase would follow to check the patterns they’ve learned. In all these phases, they cannot give all the information and they would just pick up these during their launch phase. Threats involving what AI could learn that could destroy the system. It would still need human assistance, as of now, to make sure that it would go as planned.

AI could really surpass humans and if you think about it, it would be really scary in the future. Ethical issues involving AI are too complex and we are still learning some of it. Humans need to keep this issue in mind and solve them as quickly as possible and analyze the broader implication of these AIs to our society

V.Nation-Building Implications AI is not a far-off concept, but a technology that is now being integrated and used in a range of industries.

Banking, national defense, medical services, justice system, mobility, and smart cities are examples of such sectors. There are countless examples of AI already having an influence on the world and significantly complementing human skills.

Some of the impacts of AI on the sector examples stated above are the following: Banking - loan acceptance is now being automated by AI to reduce human error by checking on multiple factors such as credit score and financial background, removing emotions out of the decisionmaking process and leaving only analytical considerations that don't take too long and can yield results in only a span of a few minutes. Fraudulent behaviors are also detected in large organizations that are difficult to be traced manually. AI helps identify outliers or abnormalities that trigger an investigation. Another example is the stock market. Traders buy and sell stocks that automatically match their price preferences.

National Defense/Security - AI can be used to sift through tons of videos and data to detect suspicious activities

eliminating conventional surveillance monitoring. Commonly, we only look through surveillance footage when there has already been a crime but nowadays, AI can help detect crime real-time.

Healthcare - AI technologies are assisting designers in increasing the algorithmic complexity in health care.

Merantix, for example, is a German business that uses deep learning to solve medical problems. It features a diagnostic imaging application that "detects lymph nodes in the human body in Computer Tomography (CT) images." The key, according to its creators, is identifying the nodes and finding minor lesions or growths that might be harmful. Humans can do it, but radiologists charge $100 per hour and may only be able to read four photos each hour carefully. If there were 10,000 photos, the procedure would cost $250,000, which would be prohibitively expensive if done by people.

Enhanced justice system - According to one machine-learning policy simulation, such algorithms might cut crime by up to 24.8 percent while keeping current jailing rates or reduce jail populations by up to 42 percent. Using China as an example, authorities are now linking social media activity,

web transactions, identities, movement within and outside the country, and other gathered records to track prospective criminals. China is now the world’s leader in AI surveillance as they use a cloud platform to store and analyze their data which they call the “Sharp Eyes” program.

Transportation and Mobility - Radars are now attached to vehicles to prevent accidents involving trucks and other vehicles. The radars keep vehicles in their lanes, monitor speed of other vehicles, apply brakes when needed, and maintain distance to other vehicles. Cars with advanced software may learn from the experiences of other vehicles on the road and adapt their guiding systems when the weather, driving, or road conditions change. This indicates that software, not the actual automobile or truck, is the key.

Smart Cities - Several states in the USA now employ AI to analyze data and optimize emergency response -taking into consideration the report of location, weather, call report and other information gathered.

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MEET THE AUTHORS FRANCIS ROBERT BAYLON has been in the event industry for more than 8 years. She started her events management and marketing career when she got enlisted in the top 25 marketing students (Synergy trainee) in the Philippines and had her training with Philippine Junior Marketing Association (PJMA) spearheaded by Philippine Marketing Association (PMA). She had great exposure to all types of events from planning to execution. She is now working as a Client Experience Expert for Ernst &Young, part of the big 4 accounting firms in the world -- supporting the Oceania region. She’s handling several campaigns and client Ad Hoc events. Franz is a proud transgender woman with the advocacy of HIV/AIDS awareness, Transhealth, and Mental Health awareness. She’s a trained HIV counselor and a community-based screening facilitator for HIV testing. She’s the Volunteer Experience Lead of Loveyourself, a nonprofit organization. A community of volunteers that provides free HIV testing, counseling, treatment, and life coaching in the Philippines.

DIANE GIZELLE DE JUAN has been practicing Sales and Marketing Management for eight years. She finished her training in Thailand for creating Miller Heiman strategic planning blue sheets. She was also trained in Australia, Malaysia and Hong Kong to grow the In Vitro Diagnostics products in the Philippines. In 2020, she established her own medical device and supplies company that is now serving several renowned and reputable companies and hospitals in the Philippines. Managing a business requires experience and expertise in many business facets and being able to utilize the AI technologies increase productivity and efficiency, therefore increasing growth in terms of revenue and customer satisfaction.

RIC IRVIN GARCIA is a Certified Public Accountant and has been practicing financial statements audit and internal controls audit for companies mostly in the Automotive, Manufacturing, Construction, Real Estate, Technology and Banking industries for almost five years.

He is a former Senior Audit Associate at Sycip Gorres Velayo & Co. (SGV) and former Junior Assistant Manager in the Head Office Audit Department at BDO Unibank, Inc. He is currently employed by Johnson & Johnson as a Compliance Senior Analyst. He performs a review of the adequacy of the business’ internal controls and risk management processes with the help of AI to be able to render required assurance / audit opinion.

MEET THE AUTHORS ZHI LIN MA is a manager of DFB Construction since the year 2018. He is familiar with estimation, cost control, project management, and design. He won the bidding of Hong Ji Garden Project, Salcedo One Project and others. He is also the one who handled those EPC projects like Mercedes Residence Project, Cainta Royal Project and Luo Da Project.

REYJONDEL MARASIGAN is a property specialist for Ayala Land Premier for 2 years. Offering luxurious brands for investment and end-use purposes. He helps clients achieve their best real estate portfolio.

SARAH NESSIA is a certified Project Management Professional and has been managing projects for five years. Her experience and expertise include operational outsourcing and technology implementation in the insurance industry. Her work focuses on ensuring that the projects are delivered in a timely manner with the agreed quality and benefits.

PAUL REYES is a graduate of Business Administration Major in Financial Management from the University of Santo Tomas. He has more than three years of work experience revolving around the financial shared services industry as a regulatory and financial reporting analyst. His work includes crafting regulatory reports on behalf of the client in the European region, and then transitioned to creating financial reports for the revenues of internal stakeholders in the Asia-Pacific region.

SPINFOTE S04 September 2021 - January 2022