Home » Podcast » Korok Ray [2 of 2] – Labor, Outsourcing and AI

Korok Ray [2 of 2] – Labor, Outsourcing and AI

Ep 188 Korok Ray

This is part two of the insightful episode with guest, Dr. Korok Ray, a renowned economist that has served as a senior economist on the Council of Economic Advisers for then US President George Bush, from 2007 to 2009 during the historic financial crisis.

He is an Associate Professor at the May Business School of Texas A&M University and the Director of the Mays Innovation Research Center. He earned his BS in Math and Economics from the University of Chicago and his PhD in Economics from Standford University.

Korok is a labor economist. In this episode, Korok lends his views on labor and outsourcing and shares his essay entitled Online Outsourcing and the Future of Work.

Summary:

  • Korok projects that in the long future there will be less and less full-time jobs as more and more jobs will be projected base or output base. Internet and digital technology will make this possible as it will be easier to distribute workloads and capture granular data on human performance.
  • He doesn’t subscribe to the theory that robots will replace the human capital, but instead proposed outsourcing crowdsource innovation will be the ‘undiscovered country of opportunity” that will fuel global economic growth. Employment will no longer be delineated but will become more and more flexible and open-ended.
  • Automation or AI may take away basic jobs that do not require strong human judgment. It is yet unknown when this will take place but Korok believed that the best application of AI is integration into interface platforms.
  • Organizations will benefit most by tapping the global pool of human capital rather than be limited to local employment. Korok is optimistic that virtual reality technology will revolutionize the outsourcing world.
  • In Korok’s opinion, the Philippines BPO industry needs to step up and focus more on providing value-add to the cognitive front by reinventing education and by continuous innovation. This will make the Philippines more attractive to international players given the country’s existing human resources strength. Big international players and multinational companies have outsourced major roles to BPOs in the Philippines.

Key Points

  • Even in the long future, robots, automation, or AI will take some jobs but cannot effectively replace the human capital particularly for roles that require strong human judgment.
  • Focusing on the further development of cognitive skills, be relevant in the cognitive front will make the human capital be more irreplaceable and more significant in the outsourcing world.
  • Technology, digitalization, and virtual reality world will revolutionize outsourcing to be the future of work or employment.

Reference:

Get 3 free quotes 900+ BPO SUPPLIERS

outsourceaccelerator.com/188

[email protected]

Expand transcript

Listen to more podcast episodes here:

  1. Butch Valenzuela – My Outsourcing Journey
  2. Shafi Aboobaker – Inception of Asiatel Outsourcing
  3. Raffy Macapagal – From Outsourcing Agent to Country Manager

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.