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IT-BPM sector to hopes to have 1.82 million employees by end of 2024

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Benise Balaoing

ABS-CBN News

MANILA -- The IT and Business Process Association of the Philippines (IBPAP) said it hopes the industry will have 1.82 million employees by the end of the year. At the 16th International IT-BPM Summit, IBPAP president Jack Madrid said this is a 7 percent growth from the 1.7 million employees the sector had at the end of 2023.Madrid also said the group said it sees industry revenue climbing to $38 billion by yearend, higher by 7 percent from the $35.5 billion it saw last year.Madrid said the information technology-business process management (IT-BPM) industry is at a &quot;transformative time,&quot; as the use of generative AI (artificial intelligence) rises.&quot;Just as the assembly line changed how factory workers made products, generative AI will transform knowledge work,&quot; he said. &quot;We already know it is changing how we work and what skills we need.&quot;The executive noted that according to the group&#x27;s recent survey, 67 percent of IT-BPM companies are already using artificial intelligence.&quot;IT-BPM in the Philippines is not waiting for AI adoptions,&quot; he said, noting that firms are mostly using this for customer support, data entry and processing, quality assurance, business services, workforce management, and sales and marketing.&quot;The impact of AI on operations has been mostly positive with companies reporting improvements in productivity, operational efficiency, service quality, and revenue generation,&quot; he said.He noted, however, that challenges persist. Madrid said 8 percent of their members reported a fall in headcount. He added, however, that 13 percent of their members hired more employees.&quot;For the remainder, jobs have not been affected, with 1/4 of our members saying job has changed, and the other fourth saying that heavy upskilling is still going to be a requirement.&quot;&quot;Let&#x27;s not kid ourselves. Some jobs will change and will be lost—repetitive routine tasks like data entry and basic customer inquiries,&quot; Madrid said.&quot;AI is here to stay, but it is not negatively impacting our industry yet, as the media likes to say,&quot; he noted.He stressed, however, that AI will change their industry.&quot;Gen AI will not replace people, but people who use Gen AI will replace people who don&#x27;t. Gen AI is all about people, how work gets done, so we need to make people, not just technology, central to how we deal with generative AI.&quot;<div><a href="https://news.abs-cbn.com/business/2024/9/24/talent-shortage-may-hamper-ai-adoption-among-ph-bpos-1830" rel="noopener noreferrer" target="_blank">Talent shortage may hamper AI adoption among PH BPOs: Industry group</a></div><div><iframe width="640" height="360" src="https://www.youtube.com/embed/osdGQ5yTYuI?&amp;ab_channel=ANC24%2F7autoplay=1&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></div>

An industry group said it hopes the IT-BPO industry will have 1.82 million employees by the end of the year.

An industry group said it hopes the IT-BPO industry will have 1.82 million employees by the end of the year.

IT-BPM sector hopes to have 1.82 million employees by end of 2024

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IT-BPM sector hopes to have 1.82 million employees by end of 2024

Benise Balaoing,

ABS-CBN News

Published October 02, 2024 06:27 PM PHT

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Updated October 03, 2024 06:15 AM PHT

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