“There are a lot of discussions in the education sector on how to prepare our workforce for that opportunity,” Go, Special Assistant to the President for Investment and Economic Affairs, told reporters at the sidelines of the Franchise Asia Philippines 2024.
The government is also in discussions with BPOs and businesses to help match their needs with what the workforce can offer.
Big picture
The BPO industry is one of the pillars of the economy, employing nearly two million workers and generating revenues of about $38 billion.
Bloomberg highlighted the threat facing the industry when it reported that up to 300,000 BPO jobs in the Philippines could be lost to AI within the next five years, citing data from Avasant.
It noted that Akshay Khanna, managing partner at Avasant, also sees potential for AI to create up to 100,000 new roles in areas like algorithm training and data curation.
Go’s statements indicate that the government is aware of these risks and is proactively working to stay ahead of the curve and find solutions.
Cybersecurity capital
Another area where the Philippines’ outsourcing sector can boost its presence is in cybersecurity.
“Our BPOs service the rest of the world for their [cybersecurity] requirements,” Go said on Monday.
“We are looking ahead to the next opportunity. We think it is in cybersecurity,” he said.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
