Philippine BPO sector seen to sustain growth
Over the long term, the IT-BPO sector industry in the Philippines is still expected to post continued growth as services related to the industry will remain at the top of “exports”, a study by Ken Research said. According to the study, the Philippine IT-BPO market is seen to hit PHP2.5tr (USD48bn) in terms of revenue by 2023. Over the years, the Philippines is expected to be a major supplier of IT-BPO services to companies in the US, Europe, the Asia-Pacific, and other regions of the world. The study also found out that the Philippine BPO sector is likely to be influenced by the arrival of artificial intelligence (AI) systems. For example, BPOs will have to adopt systems like AI-powered applications, which could take over process-driven jobs.
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