11 Mar Role Of Artificial Intelligence On Business Process Outsourcing
What is Artificial Intelligence?
Artificial intelligence deals with computer science that highlights the creation of intelligent and advanced machines that react and works like a human. Artificial Intelligence (AI) is designed to perform the activities such as; computer like problem-solving, planning, learning, recognition of speech and similar other tasks. Now it has become an essential part of the technology industry. Machine learning and engineering knowledge is the core part of AI. Artificial Intelligence and machine learning must have comprised of two categories; i) weak AI (also termed as narrow AI): designed to perform a single specific task and ii) strong AI: formulated to be applicable to any intelligence based problem.
Artificial Intelligence Boost Business Process Outsource (BPO) Market
In recent years, Robotic Process Automation and Artificial Intelligence has rapidly boosted the Business Process Outsource (BPO) Market. According to the research experts, it has not only enabled the reinvention of services within the existing BPO but also increased the penetration of the shared services within organizations. It is expected that the total market of the business out process is the reimagination which seems to cover the reinvention of artificial intelligence and machine learning technologies. The rise of Artificial Intelligence revolutionizes the business out process as well as human life. Successful implementation of AI in the BPO industry would mean a massive increase in productivity as well as excellent employment opportunities. No doubt, integration of AI and human capabilities in BPO can increase the profitability of the business it serves.
Impact of Artificial Intelligence in BPO
In the modern age, machine learning, artificial intelligence, and robotics are advancing at fast and rapid pace. AI has seen a progressive growth that will continue to surprise us with its unlimited competences. As like other fields, data entry services also affected by this revolution which has some benefits and downsides also. AI has been changing the conventional way of data entry with the latest automated process reduces the risk of making errors. It also enables the data entry processes to become responsive, faster and safer and it maintains a high level of consistency. With the help of Cloud computing, complex and great data can be managed efficiently. Automated data entry process can enter data in real time which helps business to improve flexibility and achieve response promptly. With advanced technologies, it significantly reduces the use of paper-based data entry. Smart technologies like Artificial Intelligence affects data entry, and other positively outsource business.
Though, AI has various positive influences on business advancement but, there are few concerns associated with it as well. Over the past few years, AI is taking over and leaving thousands of people jobless especially in business process outsourcing. BPO firms are preparing and working for its impact on the workers and the trade as a whole. With the government and the academe, business outsources firms are training affected workers for jobs that require complex decision making and critical thinking. This includes consultancy, mobile and cloud service, knowledge process outsourcing these are less likely to be affected by automation.
The major drawback it could bring is the decline in manual data entry and other jobs. A lot of people could lose their jobs, and it increases the unemployment ration in the upcoming years. Despite these concerns and fears, the technology shift has ended up creating many more jobs than were finished. When BPO tasks are automated, it needs more workforce to do other functions in the process that haven’t been automated. Technological change may complete some specific jobs, but it has also created more in the process.
Instead of fearing when artificial intelligence would take over the BPO industry, people should prepare themselves to improve their knowledge and skill need to focus on such jobs that require more creativity. As we know, nobody can bring about an end to technological changes; it is the need of the time to move with it instead of getting left behind. Looking back on history, during the industrial revolution, many tasks in the weaving process were automated. The workers would pay attention to the things machines could not do, such as operating and maintenance of a computer and to use multiple machines to keep them running smoothly. In other words, AI has gradually changed the nature of many jobs and the skills required to do it.