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The Philippines' IT-BPM industry is projected to grow by 7% this year, countering fears that AI will lead to job losses. Job numbers are expected to reach 1.82 million in 2024, with revenues hitting $38 billion, both record highs. Jack Madrid, president of the industry body, emphasized that generative AI will not replace workers but rather those who utilize AI tools will outpace those who do not.
Madrid highlighted the importance of upskilling workers in areas like AI, IT support, and cybersecurity to meet future demands. The industry faces a talent gap that must be addressed to avoid being pigeonholed into low-complexity roles. A recent survey indicated mixed impacts of AI on employment, with some companies reporting headcount reductions while others experienced growth.
• Philippine IT-BPM industry to grow 7% despite AI job concerns.
• Upskilling in AI and IT support is crucial for future growth.
The discussion emphasizes that those who effectively use generative AI will have a competitive advantage in the job market.
The industry is urged to address this gap to enhance its reputation beyond low-complexity jobs.
Upskilling in areas like AI and cybersecurity is deemed essential for the workforce's future.
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