ING Bank: No Signs of AI Replacing India's Outsourcing Industry
2 day ago / Read about 0 minute
Author:小编   

On September 17, ING Bank pointed out that India's outsourcing industry shows no signs of being replaced due to the rise of artificial intelligence. As India expands into service sectors that are more challenging to automate and climbs up the value chain, the share of software service exports in its GDP has increased from 3.3% before the pandemic to approximately 5.2%. Meanwhile, the proportion of business services such as finance, accounting, engineering, research, and analysis in GDP has also doubled to 3.3%. This trend challenges concerns that generative AI may automate traditional outsourcing jobs, thereby weakening a vital industry in India. According to ING Bank data, India holds over half of the global outsourcing market share, with annual software service exports valued at approximately $205 billion, providing employment for about 5.8 million workers. Combined exports of software and business services account for approximately 8.5% of India's GDP, making them a significant source of foreign exchange for the country.