Text analytics technology will change the face of offshore outsourcing within 5 years
The offshore outsourcing industry is to prepare for fundamental and disruptive changes in the way that global enterprises would automate significant internal and external document management processes, said Peter Wren-Hilton, co-founder & CEO, Pingar, at the NASSCOM India Leadership Forum 2013 in Mumbai today.
Wren-Hilton described how Text Analytics, the emerging technology that embraces natural language processing, computational linguistics and machine learning, had the capacity to automate many traditional manual tasks. Algorithms, programmed to read and understand document context like a human, would automate the extraction of relevant text and data from both unstructured and structured data documents, making the current data input and processing roles of many offshore outsourcing firms redundant.
Wren-Hilton encouraged the offshore outsourcing sector to consider ways in which they could support their traditional global enterprise customer base by embracing these changes and providing new services focusing on areas such as analytics and business intelligence.
“The reality is that emerging technologies such as Text Analytics will automate many existing repetitive data entry tasks, completely removing the need to outsource. Significant advances in technology’s document understanding capability will enable global enterprises to bring in-house many of the data-driven functions currently outsourced offshore. These are not long-term changes. Many will occur within the next five years,” said Wren-Hilton.
“The reality is that trained natural language processing, computational linguistic and machine learning algorithms will take over many tasks currently undertaken by humans. The offshore outsourcing sector must prepare for that reality”, Wren-Hilton concluded.
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