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

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.&nbsp;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&#39;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&#39;s not kid ourselves. Some jobs will change and will be lost&mdash;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&#39;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;<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><iframe width="640" height="360" src="https://www.youtube.com/embed/osdGQ5yTYuI?&ab_channel=ANC24%2F7autoplay=1&wmode=opaque&rel=0" frameborder="0" allowfullscreen="" class="fr-draggable"></iframe>

&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&#39;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&#39;s not kid ourselves. Some jobs will change and will be lost&mdash;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&#39;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;<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><iframe width="640" height="360" src="https://www.youtube.com/embed/osdGQ5yTYuI?&ab_channel=ANC24%2F7autoplay=1&wmode=opaque&rel=0" frameborder="0" allowfullscreen="" class="fr-draggable"></iframe>

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.

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.&nbsp;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.

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 | ABS-CBN News

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

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