The business landscape in Latin America is experiencing a quiet but powerful revolution: the adoption of Artificial Intelligence (AI).
A joint study by NTT Data and MIT Technology Review has shed light on this phenomenon, revealing that companies in Colombia and Mexico are at the forefront of recognizing and embracing the transformative potential of AI.
This Guinea Mobile article explores the key findings of this study, highlighting the levels of conviction, investments, and challenges faced by companies in the region on their AI journey.
Colombia and Mexico: convinced leaders in AI adoption
Colombia and Mexico emerge as the undisputed leaders in AI adoption in Latin America.
According to the study, an impressive 84% of business leaders in Colombia and a solid 83% in Mexico recognize the value that AI will bring to their operations and business plans in the coming years.
This level of conviction significantly exceeds that of other countries in the region, marking a clear commitment to the integration of AI into the business fabric.
Latin America: a convinced but cautious region
At the regional level, the report highlights that 69% of companies in Chile and 67% in Argentina are also convinced of the power of Artificial Intelligence.
However, these figures show a tinge of caution compared to Colombia and Mexico. Companies in Argentina and Peru follow with 60% and 58% conviction, respectively.
Strategic investments: a financial commitment to AI
AI adoption is not just a conversation, but a financial reality for many Latin American companies. Four out of ten companies are already allocating between 1% and 2% of their annual revenue to AI initiatives.
Some organizations even plan to allocate up to 15% of their total technology budget to AI. This financial commitment underscores the perception of AI as a key strategic technology for the future of business in the region.
Areas of Opportunity: Operational Efficiency and User Experience
Two main areas of interest for Latin American companies: operational efficiency through data analytics with AI and improved user experience through machine learning tools for personalized marketing and customer service.
These areas represent tangible opportunities where AI can make a significant impact.
Challenges: talent shortage and lack of clear metrics
Despite the enthusiasm, the region faces considerable challenges in its journey toward widespread adoption of AI. The shortage of specialized talent and the lack of specific metrics to assess the technology’s impact are two key obstacles.
Half of the companies already adopting AI have yet to establish clear metrics, which is not only a misstep but can also jeopardize long-term investments.
Ethical and regulatory considerations: a necessary holistic approach
The report highlights the growing awareness of the ethical risks and algorithmic biases associated with AI. Companies in the region are aware of the challenges in terms of transparency, security, data quality and privacy.
The regulatory discussion is in its early stages, and many companies are waiting for a clear framework before making important decisions around AI.
The AI revolution in Latin America
As Latin America embraces AI, Colombia and Mexico are leading the way with exceptional conviction in the transformative potential of this technology.
Although they face challenges, from talent shortages to a lack of clear metrics, companies in the region are financially committed to integrating AI into their operations.
This journey toward AI is not only technological, but also ethical and regulatory.
As companies move forward, the balance between innovation and responsibility becomes critical to ensure a sustainable and ethical future in the era of Artificial Intelligence in Latin America.