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It seems that the Business Process Outsourcing (BPO) sector of the Philippines is not backing down. The only way is up as it’s being expected to reach 2.5 Trillion by 2023, with main clients from the United States, Europe, Asia Pacific and more. This is according to the latest publication of Ken Research posted on PR Newswire.
Titled “Philippines IT Industry – By Hardware Market (Computer Sales and Peripherals Sales, By IT-BPO Market (Contact Center, Software Development, Transcription, Animation and Other BPOs), By Software Market (Software Development and Software Publishing) and By Antivirus Market (Enterprise Customer and Retail Customer”, the study focused on the IT industry of the country and its expansion.
According to Ken Research, AIS (Artificial Intelligence Systems) will grab a hold of the BPO sector, influencing it as it slowly enters the industry. It is said that Al-powered translators will have a huge impact on the usage of the English language in the Philippines. The archipelago is known for its high fluency and literacy on the “universal” language.
Aside from this, it’s also expected for the sector to grow and become a key developing industry. The main reasons for his revolve around the low cost of living and workforce equipped with good English speaking and writing skills.
New jobs will also land in the sector but will cause a negative impact on the industry. According to Ken Research, among those jobs are cyber-security, mobile app development, social media and data science mobile app development, which will result in lower dependency on call centres.
Lastly, storytelling and visual arts are a great asset of the people living in the Philippines. Ken research cited sectors that will grow, such as global in-house centers (GICs), healthcare information management, animation, and gaming.