GBS WORLD NEWS | WEEK 2 | SEPTEMBER 2024
The Africa Federation of Global Business Services (GBS) Associations has officially launched, aiming to unlock Africa’s potential in the BPO, CX and ITO sectors. Strategic partnerships between Genesis Global Business Services, GBS.World, Rod Jones Consulting, and THRIVE saw the creation of this Federation. Its establishment and strategic direction is overseen by a dedicated Steering Committee, composed of distinguished leaders from across the continent. This collaboration seeks to enhance Africa’s standing as a hub for innovation, knowledge exchange, and technological advancement, promoting partnerships, youth employment, and digital enablement while driving best practices and standards. With 60% of Africa’s population under the age 25, the initiative targets the continent’s growing talent pool, positioning Africa as a competitive player in the global outsourcing market.
Over in Colombia, the Mexican fintech firm, Claro Colombia, announced a US$200 million investment to enhance its fiber optic network, facilitating the development of AI technologies. This initiative, revealed at the Andicom conference, aims to improve connectivity for 1.5 million homes and expand AI applications across sectors like telemedicine and automation. Claro’s president, Rodrigo de Gusmao, highlighted AI’s potential to boost Colombia’s GDP by 10% in 15 years. The investment includes rural infrastructure improvements, promoting digital inclusion and equitable economic growth.
In India, according to a Nasscom-Zinnov report, 70% of Fortune 500 companies are expected to expand their presence in India by 2030, with the country’s global capability centres (GCCs) playing a pivotal role. GCC revenue is projected to grow from US$64.6 billion to US$105 billion by 2030. The number of GCCs is also set to rise to approximately 2,100, driven by AI-led transformation, engineering, and R&D focus. India is positioned as a hub for global innovation and digital transformation, with an expanding talent pool and increasing global roles.
Also in the APAC region, Emerald BPO Tech is set to expand its operations with a new call center established in partnership with Sri Lanka’s Board of Investment. This new center in Sri Lanka will offer a range of services, including inbound and outbound call handling, technical support, and IT services, targeting businesses in Dubai and Singapore. Already operating a call center in Colombo, Emerald BPO Tech is known for its global BPO solutions. Sri Lanka’s strategic location, skilled workforce, and competitive cost structure make it an attractive hub for call center operations, positioning the country as a growing player in the global BPO sector.
In global news, a recent report from the IT research giant, Gartner, indicates that 40% of generative AI (GenAI) solutions will be multimodal –processing text, image, audio, and video – by 2027. This shift enhances human-AI interaction and expands the applicability of AI across various data types. Key trends include the rise of open-source large language models (LLMs) and domain-specific GenAI, both expected to transform industries. Gartner predicts significant advancements in AI capabilities, with multimodal models and autonomous agents playing a central role in driving innovation and improving business operations.
Also in global news, the Business Process Outsourcing (BPO) market is projected to grow from US$279.89 billion in 2023 to US$661.59 billion by 2032, with a CAGR of 10.03%. This expansion, announced in a report from global market research firm Value Market Research, is driven by the rising demand for cost-effective business solutions and digital transformation. Key players include Amdocs, Capgemini, and Infosys. The market covers various sectors, including finance, healthcare, and retail, with technological advancements, AI, and automation shaping its future growth trajectory.
