PROCESS AUTOMATION AND VIRTUALIZATION

Process automation and virtualization, which combines the Industrial Internet of Things (IIoT), robotics, digital twins, and additive manufacturing, is set to revolutionize employment. The Asian Development Bank anticipates that a quarter of jobs in outsourcing and electronics will be shed due to automation; however, this will be offset by new roles within those industries.

Responding to the anticipated disruption from automation, the Philippines Skills Framework Initiative prioritizes skills development in the most vulnerable sectors: construction, creatives, food, health and wellness, IT-BPM, logistics and supply chain, manufacturing, and tourism.

We can expect these four tech trends to bring far-reaching changes for Philippine companies, industries, and markets — and across the wider society. These fast-moving technology trends can bring growth and competitive advantage for organizations prepared to embrace these changes. Consumers also stand to benefit, with novel and more affordable services and applications — in healthcare, entertainment, and financial services for instance — and in the creation of new areas of employment. At the same time, it will remain vital for all stakeholders to assess and mitigate business, operational, compliance, legal, and societal risks in the context of these profound technology shifts.