Contact center sector unfazed by AI ‘threat’ By Andrea E. San Juan
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@andreasanjuan
HE Contact Center Association of the Philippines (CCAP) has expressed confidence that the target employment figure of the contact center sector for 2028 will be achieved “even with the emergence of generative AI [artificial intelligence].” Speaking at the Contact Islands 2023 held in Mactan, Cebu, CCAP Managing Director Rosario Cajucom-Bradbury said the forecast workforce growth of the sector is 2.3 mil-
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lion full-time employees, which she said is to be accounted for by CCAP member-firms, out of the 2.5-million employment target of the entire IT and Business Process Management (IT-BPM) industry by 2028. Contrary to “common assumptions,” the CCAP official said the contact center group believes the new technology will “bolster” the sector’s productivity instead of threatening jobs. “Generative AI can enhance the strengths of our Filipino agents who can then focus on active listening and become more empathetic and engaging
when rendering service to our customers,” she explained. She pointed out that agents are continuously being upskilled to further equip them with the right knowledge and skills amid the evolving nature of jobs across the sector and the industry. “Agents can be redeployed and upskilled to make them always relevant to the future business model,” the CCAP Managing Director said. Last month, Cajucom-Bradbury pointed out that the Generative AI has an impact on client business, the way services
are delivered by the BPO Industry, and the corporate services of providers, namely,e HR, Finance, etc. She cited the use of Generative AI Assist working alongside agents when handling calls increases their efficiency, productivity, and resolution in handling customer service. “Thus, the call agent is provided with the opportunity to have more focused active listening and genuine empathy rather than being preoccupied in navigating the system for resolution. See “Contact,” A2
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HOT MONEY INFLOWS IN JUNE RISE 5.3% TO $889M www.businessmirror.com.ph
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Friday, July 28, 2023 Vol. 18 No. 284
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EGAY’S AFTERMATH Typhoon Egay’s recent onslaught in northern Philippines brought contrasting impacts, affecting both human lives and the environment. The combined forces of strong gale winds and the southwest monsoon led to treacherous sea conditions, cancelling trips and leaving at least 414 passengers stranded at the North Port Passenger Terminal in Tondo, Manila, who were originally bound for the Visayas and Mindanao. The typhoon’s fury didn’t spare the artificial Dolomite Beach along Manila Bay, washing ashore an unsettling amount of debris and waste. The Metropolitan Manila Development Authority, Department of Environment and Natural Resources, and environment volunteers joined hands for a thorough cleanup along the shore. ROY DOMINGO
By Cai U. Ordinario
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@caiordinario
FTER four consecutive months of decline, the country’s foreign investments registered with the Bangko Sentral ng Pilipinas (BSP) through its authorized agent banks (AABs) posted inflows in June. Data showed hot money inflows reached $889 million, higher by $45 million or a growth of 5.3 percent compared to the $845 million recorded in May 2023. “The recorded net inflows are also a reversal from the net outflows posted in May 2023 [$124 million] and in June 2022 [$342 million],” BSP said in a statement on Thursday. However, year-on-year, the registered investments in June 2023 are lower than the $1 billion recorded in June 2022 by $149 million or by 14.4 percent. Gross outflows also declined by $493 million or by 35.7 percent compared to the gross outflows posted in June 2022 at $1.4 billion.BSP said the $1-million net inflows in June 2023 are an improvement from the $342-mil-
lion net outflows recorded for the same period a year ago. “ Year-to -d ate transactions [01 January to 30 June 2023] for foreign investments registered with the BSP, through A ABs, yielded net outflows of $803 million, which is a reversal of the $778-million net inflows noted for the same period last year [01 January to 30 June 2022],” BSP said. The data showed the majority of registered investments of $700 million or 78.7 percent were in Philippine Stock Exchange (PSE)listed securities. These investments were made in securities on property; banks; holding firms; food, beverage and tobacco; and telecommunications. See “HOT,” A2
PROJECTS GIVEN GREEN LANE CERTIFICATES WORTH P183B
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HE One-Stop Action Center for Strateg ic Investments has a lready received 12 applications for the Green Lane in the renewable energy, digital infrastructure, manufacturing, and electricity sectors, among others, according to Trade and Industry Secretary Alfredo E. Pascual. Of these 12, the Trade chief said four have already been approved for green lane services. These are under the following industries/sectors: renewable energy, digital infrastructure, digital infrastructure, manufacturing, and electricity. He noted that these 12 are set to generate at least 19,250 jobs. Meanwhile, in a message sent to reporters, the Board of Investments (BOI) said the projects that were issued Green Lane Certificates by BOI amounted to P183 billion, which it said represent
a “significant investment” in various sustainable projects, ranging from f loating solar projects to data centers and common towers. According to BOI, these projects include: SunAsia Energy Inc.’s P66-billion 1300 megawatt (MW) floating solar project in Laguna de Bay; NK Solar One Inc.’s P15-billion 250MW floating solar project in Caliraya, Laguna; Phil-tower Consortium Inc.’s P52-billion 7,907 Built-to-Suit Common Towers; and Narra Technology Development Park’s P50billion Hyperscale Data Center in New Clark City, Tarlac. Additional projects worth P78.5 billion are already under evaluation. Among the projects being evaluated are five more floating solar projects, a microhydro electric plant, a reinforcing steel bars producer, and a section mill project. See “Projects,” A2
Growth, export advantages to draw Malaysian business By Samuel P. Medenilla
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@sam_medenilla
RESIDENT Ferdinand R. Marcos Jr. on Thursday cited the country's strong economic fundamentals and export advantages in his bid to get even more business commitments from Malaysian firms on top of the US$235 million worth of investment pledges he secured during his concluded three-day State Visit in Malaysia. "The investment commitments that we have received thus far are valued at around US$235 million, which is a good indication that there is a strong interest from Malaysia to invest in the Philippines," the Chief executive said in his speech at the Philippine Business Forum in Malaysia on Thursday before his flight back home. During the meetings with Malaysian firms, he said they discussed possible investments on agriculture, transportation and technology. This includes the US$20-million pledge of Malaysian dairy company Farm Fresh Berhad to establish a cattle breeding intended
for milk production in the country. The firm is eyeing to lease 200 to 400 hectares of contiguous farmland in Batangas or Laguna to raise 2,000 milking cows by 2028.
Selling point
The chief executive urged more Malaysian firms to also invest in the country to take advantage of its accelerated economic growth, which reached 7.6 percent last year. “For the first quarter of 2023, the Philippines outperformed its peers in the region by boasting the highest GDP [gross domestic product] growth of 6.4 percent, which is right in the middle of our target 6.0 to 7.0 percent for the year,” Marcos said. He also said the country’s “liberalized” business policies, which enabled foreign ownership in air transport, telecommunications, shipping, retail and renewable energy projects, as well as business-friendly corporate tax and newly established green lanes for strategic investments to draw in more investors. See “Growth,” A2
PESO exchange rates n US 54.6410 n japan 0.3898 n UK 70.7328 n HK 7.0049 n CHINA 7.6559 n singapore 41.2354 n australia 36.9373 n EU 60.5859 n KOREA 0.0430 n SAUDI arabia 14.5690 Source: BSP (July 27, 2023)