New IT-BPM investments registered under the Philippine Economic Zone Authority (Peza) have reportedly dropped by 34.96% in the first five months of this year from the same period in 2016. According to an Inquirer report, Peza-approved IT-BPM investments from January to May declined to P7.08bn (USD141m) from P10.88bn in the same period last year. The number of projects approved also dropped to 87 from 103 a year earlier. The source quoted in the report said the drop was not caused by trends in automation or artificial intelligence, but by political uncertainty. Revenue of the IT-BPM industry has been forecast to reach USD38.9bn in 2022 after hitting USD22.9bn in 2016.
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