By Anish Mukker
India’s IT-BPM industry contributes to the growth of exports and employment opportunities. The next half-decade promises a seismic shift in the Indian IT-BPM space, driven by the relentless advancement of new-age technologies. AI and GenAI are set to redefine customer experiences, augmenting decision-making processes with the new realms of efficiency and personalisation.
As businesses today generate ever-increasing volumes of data, the ability to extract meaningful insights based on advanced analytics methodologies will be a key differentiator. Indian IT-BPM firms must develop sophisticated analytics capabilities to offer their clients actionable insights to drive positive business outcomes. Success will be determined by a high-tech approach combining advanced digital and technology solutions with the human touch to empower leading global brands adapt to digital innovations.
Automation will streamline workflows and enhance productivity. Robotic process automation (RPA) and cognitive automation technologies will enable organisations to automate increasingly complex tasks. This shift will allow IT-BPM firms to focus on higher-value activities, driving innovation and strategic thinking. As outsourcing grows, the emphasis will shift to specialised digital services for evolving global needs.
Workforce development is key in this evolving landscape. Upskilling in AI, data analytics, automation, cloud and cybersecurity is essential, alongside 21st-century skills like communication, critical thinking, and adaptability. The emphasis on these skills will be crucial in transforming the workforce to meet the demands of a rapidly changing industry.
Collaborative innovation will drive future growth. Strategic partnerships with startups, academia, and research institutions will foster a collaborative ecosystem conducive to breakthrough innovations. As the demand for AI expertise continues to soar, customer service organisations must also focus on strategies to stay competitive in the talent acquisition and retention landscape.
In the age of data abundance, harnessing data for insights and action will be critical. Organisations must prioritise the effective utilisation of data for actionable insights. This will involve investing in data governance frameworks, data quality management systems, and advanced analytics platforms. By leveraging data analytics to anticipate market trends, optimise operations, and personalise customer experiences, the IT-BPM industry can drive sustainable growth and maintain a competitive advantage.
Global geopolitics will impact the industry, with shifts in trade policies and rising protectionism posing challenges. However, these changes also present opportunities for the Indian IT-BPM industry to diversify its market presence and develop new nearshore and onshore delivery models.
By embracing emerging technologies, fostering a culture of innovation and collaboration, and harnessing the power of AI, data analytics and automation, the Indian IT-BPM industry can successfully navigate the challenges that lie ahead.
The writer is CEO, Teleperformance in India