https://www.ft.com/content/149681f0-ea71-42b0-b85b-86073354fb73
…And that in as soon as a year! What’s frightening is that he may be right! Does this mean this is the end of the BPO bull run? Even if I have my doubts (I am not a doubting Thomas, though), I realise it will be naive to believe that AI will touch all sectors except that of the BPO!
Per this report, more than 5 million people work in IT / BPO sectors in India.
The Philippines, too, thrives on the BPO rage.
If the Generative AI projects of TCS have “doubled quarter over quarter to be worth $900 million to the end of March” that’s credible data to be relied upon.
It is not for nothing that rapid advancements in Generative AI have had policymakers everywhere worried.
A recent McKinsey report has it that “Gen AI could add US$2.6 trillion to $4.4 trillion annually to the economy.” McKinsey expects Gen AI use cases to have an impact of up to $690 billion in the Technology, Media and Telecommunications (TMT) space alone. It points out that the impact of Gen AI on telcos can be very significant.
It is certain that what is upon us is not a gloom and doom scenario. A vibrant economy can keep the job market robust too!
As with every disruptive transformation, new opportunities will arise and smart individuals will seize the moment, acquire new skills and get ready for the future!
Enough has been said about the need for continuous learning and upskilling to keep pace with the demands of the market. There is no harm in me reinforcing the message!
#GenAI #BPO
G Joslin Vethakumar
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