July 7, 2016
Budget Secretary warns of over-reliance on BPO industry
Newly appointed Philippine Budget Secretary Benjamin E. Diokno has warned against being too reliant on the business process outsourcing (BPO) industry. During a recent briefing, Diokno said that the BPO segment’s contribution to the economy could reduce due to advances in technology that could take the place of workers. He said the change might not be immediate but even at this stage the country should not be too reliant on BPO. Members of the inter-agency Development Budget Coordination Committee said they are keeping a close watch on developments in artificial intelligence research abroad, which may do away with the need for call centers. The IT-BPO sector posted about 16% growth in 2014, with between USD18.1bn and USD18.4bn in total revenue.