C00166-2024

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Jan 11, 2024
2. SEC Identification Number
A200117708
3. BIR Tax Identification No.
219-934-330-000
4. Exact name of issuer as specified in its charter
Xurpas Inc.
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
Unit 804 Antel 2000 Corporate Center, 121 Valero St., Salcedo Village, Makati City Postal Code 1227
8. Issuer's telephone number, including area code
(632) 8889-6467
9. Former name or former address, if changed since last report
Not Applicable
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares 2,509,683,812
11. Indicate the item numbers reported herein
Not Applicable

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Xurpas Inc.X

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Xurpas encourages enterprises to embrace AI
Background/Description of the Disclosure

Artificial Intelligence (AI) is presently making its way into industries around the world, however, the Philippines is lagging behind in readiness and adoption vis-à-vis other regional players. In a recent report published by global tech giant, Salesforce, the country ranks last in overall AI readiness among twelve countries assessed across the Asia-Pacific region. The study looked at factors such as digital evolution, digital governance, the number of AI startups, and human capital to determine each country’s overall score.

It is reported that businesses that have successfully leveraged AI saw the biggest gains in productivity. A report from the Nielsen Norman Group referred to a study conducted in 2023 which showed that AI can potentially improve employee performance by at least 66%.

“Artificial Intelligence (AI) is unlocking the potential of industries around the globe, and to stay competitive, Philippine businesses need to seriously consider how they can integrate AI into their operations as well as train their workforce to adapt these new innovations,” says Fernando Jude Garcia, Xurpas Chief Technology Officer and General Manager of its new artificial intelligence and data science unit, Xurpas AI Lab (XAIL).

Launched late last year, XAIL provides data science and consulting services, along with a range of AI solutions, to help businesses leverage the power of data with AI to solve real-world business problems and unlock opportunities to gain lasting strategic advantage. As the country has yet to catch up with neighboring nations in terms of readiness for AI, XAIL sees immense potential for the Philippines not just in being on par with the rest of the region but also, in taking the lead in a few years’ time. “All it takes is the proper foundational support to ensure the AI adoption is done right. We at XAIL are more than ready to provide exactly that,” continues Garcia. ”We won’t stop at just one industry. We want to empower all sectors to lean into AI,” he adds.
Other Relevant Information

Please see attached Press Release.
Filed on behalf by:
Name Mark Gorriceta
Designation Assistant Chief Information Officer