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Korla pointed out that this shift is not just about AI capability but also about human reluctance to completely cede control to machines.
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DLF's K P Singh, in a book co-authored with Aparna Jain, tells the story of General Electric's India foray that began the boom of India's large scale BPO industry
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Some analysts worry that the adoption of these nascent technologies could result in up to half of the industry’s job roles becoming redundant.
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Nambiar, who is also the chairman and managing director of global technology major Cogniozant's India unit, said workers in the software services industry, the Indian tech industry's mainstay, do not have much to worry.
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This has led to the creation of 5,000 job opportunities in Visakhapatnam, of which 75 per cent are women employees, and a Rs 41 crore in viability gap funding from the Central government, the group said in a statement.
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New York headquartered Apollo Global had purchased IGT Solutions three years back from Indigo Airlines owner InterGlobe Enterprises. Other than travel and hospitality, it also operates in segments like land transportation, logistics, and cargo, e-commerce, and gaming.
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In January 2019, AION Capital Partners, a joint venture between Apollo Global Management & ICICI Venture had acquired IGT Solutions. Other than travel and hospitality, IGT Solutions also operates in segments like land transportation, logistics, and cargo, e-commerce, and gaming. It is led by CEO Vipul Doshi and Utsav Baijal, Head of India Private Equity at Apollo Global is part of the company’s board of directors.
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The guidelines would help the business process outsourcing organisations giving voice-based services in India and abroad.
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The Indian portfolio of Barings Private Equity Asia includes firms like Hexaware, Virtusa, Citius Tech, Coforge ( formerly called NIIT Technologies), CMS, AGS Health and RBS Bank. Reports indicate the PE firm has put delisted IT firm Hexaware on the block for $2.5 to $3 billion.
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Unlike IT services, shifting to WFH is lot more challenging for BPM firms that employ close to 11 lakh people.
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The government has extended the relaxed connectivity norms for 'work from home', applicable on IT and BPO companies, till July 31, amid the coronavirus pandemic.
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Practice, they say makes you perfect. If you are in and out of a trade in a matter of minutes and making good money by doing it, your skills have to be razor sharp. Sivakumar Jayachandran, a scalper has practiced thousands of trade before he became a successful trader.
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This hiring trend will mainly be driven by industries including IT, BFSI (banking, financial services, insurance) and BPO, according to 'Naukri Hiring Outlook 2019', a bi-annual survey.
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Expressing concerns over rising instances of revenue authorities treating IT-enabled services, including BPOs and KPOs, as 'intermediary services', Nasscom Senior Director and Public Policy Head Ashish Aggarwal said there is an urgent need to address the outstanding issue.
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In order to ensure that US immigration rules do not blunt the growth of this industry, it has already begun seeking new markets in Continental Europe, Japan, China and Africa.
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The transaction will see Pacific BPO's 2,100 employees becoming a part of Access Healthcare, making the combined entity one of the largest healthcare outsourcing companies with over 11,000 employees, Access Healthcare said in a statement.
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While automation will eliminate some jobs, it will also create some jobs that will support the "automation economy".
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he Parliamentary Standing Committee on Information Technology, in its report, also highlighted the need to lay more emphasis on skill and training in the country's BPO sector.
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Nearly Rs 4 lakh crore has been disbursed as direct benefit transfer to poor people which has led to savings of Rs 90,000 crore by removing fictitious beneficiaries in the last four years.
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Revenues from operations grew marginally to Rs 871.3 crore in the reported quarter from Rs 864.3 crore in the corresponding period of the last year.
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However, it is not a bad news for everyone, as the report predicts that medium and high skilled jobs will see a rise during the said period. Due to a rise in adoption of automation and artificial intelligence, the number of low skilled workers in India's IT and BPO service sectors could fall from 2.4 million in 2016 to 1.7 million in 2022, it said.
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The Naukri JobSpeak index for March 2017 stood at 2,073, up 5 percent from the year ago level, indicating an upsurge in the overall hiring scenario.
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There are worries over what automation will do to jobs in the business process management (BPM) industry. But, Partha Desarkar, CEO of Hinduja Global Solutions believes a lot of it is hyped.
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Essar's outsourcing business Aegis has set up BPO facility at Jamshedpur with 2,500 seating capacity.
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Hinduja Global Solutions, the BPO arm of diversified Hinduja Group, today reported over two-fold increase in consolidated net profit to Rs 47.21 crore for the December quarter.
