Philippines urged to embrace AI for BPO growth
MANILA, PHILIPPINES — The Information Technology and Business Process Association of the Philippines (IBPAP) is advocating for a stronger integration of artificial intelligence (AI) in the business process outsourcing (BPO) industry.
This strategic move aims to capitalize on the country’s young workforce and maintain a competitive edge by embracing new technologies.
Harnessing a young workforce
IBPAP emphasizes the importance of leveraging the Philippines’ youthful demographic to drive innovation and efficiency in the BPO sector. The organization also views AI not just as a technological advancement but as a crucial tool for enhancing job quality and operational efficiency.
In an interview with ANC, IBPAP CEO and President Jack Madrid said, “The AI train has already left the station, and it’s moving very fast. We must welcome AI and other emergent technologies as tools and platforms to make our workforce even more efficient and augment the quality of our jobs.”
This proactive approach to AI integration reflects IBPAP’s commitment to ensuring that the Philippines remains a leading destination for BPO services globally while also substantially contributing to the national economy through job creation and revenue generation.
Earlier this year, IBPAP revised its 2028 industry roadmap in a strategic move to stay ahead in the rapidly evolving artificial intelligence (AI) landscape. This update, in collaboration with Everest Group, aims to realign the sector’s objectives with the advancements in AI technology.
Ambitious growth targets
Amidst the rapid evolution of AI technologies, IBPAP remains optimistic about the industry’s growth prospects. The association is confident about achieving significant milestones in the near future.
“We are hoping to cross 1.8 million jobs by the end of 2024 and hopefully touch $40 billion in revenue,” Madrid noted.
This growth is expected to be seen as a direct result of integrating AI tools which can enhance the efficiency and quality of services provided by the BPO sector.
The Philippine IT-BPM sector sets its sights on achieving a revenue target of $59 billion and employing 2.5 million full-time workers by 2028.
As of 2023, the industry boasted a workforce of 1.7 million and total revenues of $35 billion.
