Explore the future trends as PH IT Industry sees growth through the digital economy. And then let us uncover the thrilling opportunities these advancements present to Filipino IT professionals.
The Philippine Digital Economy: A Rising Powerhouse
The Philippine digital economy is considered a rising powerhouse. It has become a popular destination for outsourcing services, including customer support and technology services for international companies. The Philippine IT industry is rapidly growing, making it an opportune time for businesses to outsource their tech requirements.
The nation is witnessing a surge in technological innovations, thanks to the concerted efforts of both local and foreign investors. As per the Philippine Statistics Authority (PSA), the digital economy of the Philippines in 2022 reached a staggering PhP 2.08 trillion, accounting for 9.4 percent of the Gross Domestic Product.
Forecasts from Google, Temasek, and Bain & Co. suggest that the Philippines’ digital economy will hit $35 billion by 2025, growing at a robust 20% compound annual growth rate (CAGR).
Leveraging the Power of Artificial Intelligence
Since the inception of the Business Process Outsourcing (BPO) industry in the Philippines in 2002, the nation has gradually emerged as a global hub for superior outsourcing services. Today, the Philippine industries are leveraging the power of artificial intelligence (AI). Likewise, the government and private sectors are collaborating to broaden AI technology in the country. More so, the Department of Trade and Industry (DTI) is unveiling a national AI roadmap – positioning the Philippines among the first 50 nations globally to do so.
AI has already made significant strides in IT, impacting data security, process automation, coding productivity, and quality assurance. Its influence is set to grow in the future, simplifying the lives of IT professionals.
Machine Learning: Unleashing New Possibilities
Machine learning is unleashing new possibilities. It is a swiftly expanding field with limitless potential applications. Industries such as manufacturing, retail, and healthcare are set to undergo transformation due to machine learning in the upcoming years. The Bangko Sentral ng Pilipinas (BSP) plans to introduce a news sentiment index (NSI) by 2023 to enhance the use of big data in monitoring activities in the Philippines. The country is leveraging big data, machine learning, and artificial intelligence, opening doors of possibilities.
Beyond the financial sector, machine learning can also be employed in manufacturing to enhance quality control, automate processes, and customize products. For instance, it can identify product defects before they reach the consumer and automate monotonous tasks like assembly lines.
Blockchain: Revolutionizing Data Privacy and Security
Blockchain is revolutionizing data privacy and data security. In the ICT industry, data privacy and security are paramount concerns. The urgency to address security issues has escalated as IT devices are deployed across various sectors. The National Cybersecurity Plan 2022, presented by the Department of Information and Communications Technology, outlines plans to implement more efficient data protection practices in response to emerging trends and issues.
In sum, blockchain technology provides a solution to many of today’s critical concerns in the IT industry. Organizations can securely share idle or spare resources with others through blockchain-based decentralized cloud solutions and receive beneficial rewards. Consequently, blockchain facilitates the exchange of resources in a network of connected devices through a public or private ledger.
A Bright Future for Filipino IT Professionals
These trends are paving the way for new business models and options, bringing a bright future for Filipino IT Professionals. Every Filipino professional can capitalize on the significant changes happening across various industries.
The role of IT services undergoes a dramatic shift when an organization fosters a culture of perpetual learning and pushes the boundaries of innovation. Filipino IT professionals can seize this opportunity to extend their reach to more industries and demonstrate their advanced tech performance and management capabilities.
TESI ITO is an outsourcing company specializing in Information Technology. We equip foreign clients with teams of IT professionals capable of handling technical IT and cybersecurity support. Equally important, we take care of employee paperwork, payroll, and tax compliance. In addition to that, we also provide office space for clients desiring maximum security and accessibility for their teams.
Tony, a Senior Vice-President of a Global Technical Support company, commends TESI ITO as a partner that supports their company’s objectives while providing the necessary level of support for success.
As the PH IT industry sees growth and adopts emerging technologies. These technologies like AI, machine learning, and blockchain, the opportunities for Filipino IT professionals are multiplying rapidly. Finally, by staying abreast of these trends and partnering with companies like TESI ITO, businesses and IT professionals can stay ahead of the curve and flourish in this dynamic digital landscape.
Again, for more information on TESI ITO and our world-class services to businesses and customers, visit our website.
