Synthetic Intelligence is a trending matter globally, with many industries adopting and creating new functions of the expertise. LATAM isn’t any exception to this development, and whereas AI is blossoming in LATAM, there are nonetheless some challenges to think about.
Welcome to our first article in a sequence devoted to synthetic intelligence in LATAM. This sequence is meant to discover perceptions and utilization of AI within the area throughout totally different industries, higher perceive alternatives and limitations of the expertise, and present examples of how AI has been applied up to now. To begin this sequence off, we sat down with Diana Pareja to debate AI’s evolution and its present standing in LATAM. Diana Pareja is a market analysis skilled and former professor on the Universidad de los Andes in Colombia. Diana has been learning the implementation of AI in Latam for the previous a number of years.
The evolution of AI in LATAM.
In response to Diana, AI shouldn’t be one thing new or lately found.
Quite a few industries have efficiently included AI into their automation processes, with info expertise (IT) being a first-rate instance. The implementation of automated techniques has vastly elevated effectivity and productiveness, leading to streamlined operations and value financial savings.
AI has, nevertheless, skilled important development over the previous decade on account of the event of recent applied sciences. In more moderen years, AI has been a part of a advertising growth due to the launch of simply accessible instruments, like ChatGPT.
Diana: “With the current launch of ChatGPT, AI has had plenty of advertising and has been made extra accessible to everybody. These days, AI is taking extra relevance in all conversations, in any respect ranges and is including plenty of worth in lots of corporations and industries.
Many corporations in LATAM have used AI for years with out even realizing it as a result of their large expertise suppliers, equivalent to Fb, SAP, Monday.com, and others, these instruments all of us have heard of, have been already utilizing it as a part of their processes.”
Statistics concerning the rising curiosity in AI inside Latin America.
Information point out that ChatGPT has been positively adopted in LATAM. In response to Statista (2023), Brazil leads the rating of Latin American and Caribbean international locations with the very best variety of visits to ChatGPT, with greater than 70 million visits registered between January 2023 and March 2023 alone. It’s carefully adopted by Colombia and Mexico, with figures near 60 million visits. On a worldwide scale, these figures place the three international locations among the many prime 20 customers of this platform, accounting for two.2%, 1.9%, and 1.7% of its world visitors, respectively.
Adoption of AI in numerous industries
In response to Forbes (2023) and their article about AI-generated content material in Latin America, AI adoption is nicely on its means within the area. A current survey by IDC estimates that AI adoption averages 45% throughout the area, with Brazil main with 63% of corporations utilizing the expertise.
Firms in LATAM are investing in AI improvement and discovering strategic companions to assist them embrace technological adjustments.
Diana: “Working with AI helps corporations be extra environment friendly, improve the standard of the method, and lower your expenses in the long run. Moreover, many corporations wish to be pioneers on the subject of expertise, so this encourages them to embrace AI.
Particularly in LATAM, Brazil is among the main international locations by way of AI utility, improvement, and laws as a pure results of the a number of tech corporations which have established their headquarters on this nation.”
In the case of particular industries adopting AI, Diana spoke about banking, training, and advertising and promoting.
Diana: “Banking is among the many leaders in AI utilization within the area. AI is effective for safety measures, like figuring out fraud and faux profiles. And lots of corporations within the area have developed specialised safety software program to promote around the globe.”
As we speak, many monetary establishments in LATAM promote their services and products by way of digital channels, and with the assistance of AI, they’ll now implement focused methods to help clients based mostly on their recognized monetary wants and behaviors.
Schooling has additionally begun adapting to AI as a sector.
Diana: “The training sector has developed to face the challenges of the AI revolution, and [AI] is presently being applied in lots of areas inside universities and different larger training establishments. This was anticipated contemplating that training should adapt to the worldwide challenges.”
Many universities are presently selling the inclusion of AI in lecture rooms as a part of their tutorial program. Professors will not be solely educating about AI, but in addition utilizing it to help their college students’ studying course of. Universities themselves are additionally profiting from AI to make their administrative processes extra environment friendly.
Diana: “A number of universities are even establishing partnerships with tech corporations to assist develop and promote AI utilization.”
In the case of advertising and promoting, AI is utilized to create focused methods based mostly on a number of standards, design higher advertisements, and analyze the effectiveness of the funding in numerous media to enhance finances spend (Neria, 2023).
AI out there analysis business:
Diana: “AI is fed by knowledge, and the market analysis business is an information business, which signifies that we are able to take into account ourselves part of those that needs to be profiting from AI and implementing it in as a lot of our processes as we are able to.
I’ve achieved some checks utilizing AI instruments to make the questionnaires adapt to the questions requested within the in-depth interviews, based on the solutions given by the members, and to have a degree of dialog similar to what a pollster or a moderator of in-depth interviews may have.
The reality is that the outcomes are spectacular. Generally I’d say that it virtually does higher than an individual. So, we have now some very attention-grabbing potential efficiencies.”
Nonetheless, knowledge bias is among the largest dangers of utilizing AI in MR. Many individuals count on that utilizing AI to research knowledge or info would eradicate researcher bias, however it may have the other impact because the evaluation could also be impacted by the AI engine utilized and its personal info sources, the AI studying mannequin, and common web conversations across the matter (Dakduk & Acevedo, 2023).
We nonetheless want a human researcher perspective to validate that the output is sensible contemplating the market context, and that the outcomes will not be detrimentally impacted by unverified sources.
Obstacles to accelerating the adoption of AI in LATAM
Diana: “We’d like educated minds to make use of AI in all industries, and we have now glorious universities that may begin desirous about utilizing AI in lots of areas inside totally different corporations. Nonetheless, after the pandemic, inflation is affecting numerous markets, and lots of corporations are limiting their finances to spend money on coaching in new applied sciences. I hope that may begin altering within the subsequent yr.”
Massive multinational corporations can play a big position in accelerating the adoption of AI within the area.
Diana: “In LATAM, many small and medium measurement corporations present help companies to large corporations. I believe they need to associate up and work towards exploring the utilization of the expertise collectively.”
Moreover, there appears to be an inside notion that LATAM is behind different areas on this planet on the subject of expertise.
Diana: “We have to change that mind-set and present that we’re able to growing best-in-class expertise.”
The present surroundings presents a wonderful alternative to point out the world our nice capabilities.
Given the present and potential utilization of AI in LATAM, having an moral strategy and utilizing the expertise responsibly and positively is crucial, and all of us should promote its correct utilization throughout totally different situations.
Diana invitations everybody in Latin America to grab this pivotal second, embrace positivity, take satisfaction of our achievements, and acknowledge the optimistic influence of AI within the area and worldwide.
About Diana Pareja:
Diana is a market researcher with over 17 years of expertise. She holds skilled levels in Anthropology and Enterprise Administration from Universidad de los Andes and a grasp’s diploma from Toulouse Enterprise College. She has labored at Quala, Ipsos, and Nielsen, and based DEEP Market Analysis twelve years in the past. At present, she runs the corporate and has been a professor at Los Andes College since 2013.
