The Positive Outlook of the BPO Industry in the Philippines
Published: February 7, 2020
The world is constantly evolving. To be successful, we must embrace these changes and keep up with the trends and progress. Businesses are encouraged to embrace technology as customer behavior and preference shift to follow digital trends.
BPO Capital of the World
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In the Philippines, the BPO industry is one of the leading sources of income for the Philippine economy. It is often dubbed as the “BPO Capital of the World” and an “Economic Powerhouse”. Aside from this, it is a multimillion-dollar industry that is projected this year to produce a total revenue of $50 billion. This industry growth is primarily due to the world-class services that Filipino workers offer. Further, developed nations like the USA, Australia, and the UK are the main market of the Philippine BPO. These nations appreciate our services yet they still demand that we keep up with the global trends. The rise of automation and its integration in business is one of the many popular trends today. But with the posing threat of automation, is the Philippines ready for this kind of challenge?
Automation in the Philippines
As a progressive nation, the Philippines is aiming to keep up with global development. The continuous creation of infrastructure and the full support of the Philippine government are some factors on how the Philippines has prepared for automation. To keep up with artificial intelligence, the Philippine government is closely working with BPO companies to train the workforce to shift from median jobs to intermediate and high-skilled jobs.
The Future of Philippine BPO
According to David Autor from his 2016 TED talk, the reason why automation has not taken over human jobs is because of the economic principle of human genius and creativity. In connection with this, many international companies can bear witness to the fact that Filipino BPO workers are nothing but resilient and definitely adaptable to change.
All in all, automation is already here and it’s going to be developed further as technology evolves. However, keep in mind that Filipino outsourcing professionals are fully equipped with the skills and knowledge of the latest trends to match the constantly evolving industry.