The artificial intelligence (AI) boom has not yet caused a decline in the Philippines’ service-export revenues or employment, ING Bank N.V. said, arguing that AI is so far changing what gets outsourced rather than reducing demand for outsourced work.

In a report, Deepali Bhargava, head of Asia-Pacific research at ING, said there was evidence that AI was reshaping the composition of service exports and employment in both the Philippines and India, another global outsourcing powerhouse.

Telecom and computer services have continued to expand alongside business services exports, lifting their combined share of the Philippine economy to 7.1 percent by mid-2026 from 6.3 percent before the pandemic, Bhargava said.