AI, human integration can add $14 trillion to BPO-reliant industries

Jessica Fenol, ABS-CBN News

Posted at Nov 07 2017 03:43 PM | Updated as of Nov 08 2017 07:15 AM

MANILA - Successful integration of human and artificial intelligence capabilities in business processes outsourcing can increase the profitability of the businesses it serves, according to an industry study.

Automation in information and communications, manufacturing and financial services may result to an 38-percent increase in profitability by 2035 and result in $14 trillion in additional gross value added or the worth of industry output, the Accenture report said.

"It’s critical that businesses act now" to develop their AI strategies, said Accenture chief technology and development officer Paul Daugherty.

In wholesale and retail, using more machines can help increase profitability by 59 percent, the report said.

Profitability is also projected to increase in accommodation and food services (74 percent), education (84 percent), manufacturing (39 percent), healthcare (55 percent), construction (71 percent), agriculture and forestry (53 percent), transportation and storage (44 percent), public services (27 percent) and arts, entertainment and recreation (26 percent), said the report. 

"By optimizing processes with intelligent automation, augmenting human labor and physical capital and propelling new innovations, AI can drive dramatic and long lasting profitability and economic growth," said Accenture research managing director Mark Purdy.

Artificial intelligence-enabled BPO agents are the future of the industry, said AI Pros founder and CEO George Yang.

If "AI is the problem then AI is also the solution," Yang said.

BPO workers shouldn't feel threatened since competition will be among AI applications, he said.