What began as technology support has now morphed into more analytic operations.
"It started as a trickle a couple of years ago but solidified through the third quarter of last year," said Niket Patankar, chief executive of outsourcing firm Adventity Inc. "Most of the large financial institutions were in the IT side of outsourcing but as they leveraged that experience, they got more interested" in moving more of their investment banking and research activities abroad.
It's good for two reasons. First, now as white-collar jobs get outsourced more and more, the perceptions of outsourcing will change. We will finally realize that our advantage lies in education, and that is we don't step it up, we won't have any comparative advantages left in a few decades. Secondly, it will help us deal with the knowledge worker shortage we will eventually face.