Peru Moves Forward with Innovative AI Regulations

In a world driven by technological innovation, Artificial Intelligence (AI) has emerged as a transformative resource with the potential to revolutionize various aspects of society.

In this line, Peru has taken a significant step by publishing the “Law that promotes the use of Artificial Intelligence in favor of the economic and social development of the country” on July 5.

This measure seeks not only to encourage the development and use of AI, but also to improve public services in critical areas such as education, health, justice, economic, inclusion and citizen security.

In the following article, we explore the advances in the regulation of AI in the country, its impact on different productive sectors and the challenges facing its implementation.

Boosting AI through the National Strategy (2021-2026)

The aforementioned law is in addition to the “National Artificial Intelligence Strategy (2021-2026)”, an initiative aimed at promoting research, development and adoption of Artificial Intelligence in Peru.

This strategy has as its main objective the creation of solutions to national problems through AI, generating new development opportunities and prioritizing productive sectors and public services aligned with national policies.

The Artificial Intelligence landscape in Peru is reflected in productive sectors such as retail, where its implementation reaches 29% followed by media/communications (27%), financial (24%) and agriculture and fisheries (21%).

Although the government registers 0% in use, other key aspects such as cloud services (50%) and data analytics (40%) demonstrate the insertion of technology in the country.

According to the registered scenarios, the aim is to encourage the work and the entry of new technologies in each sector, thus taking advantage of AI in order to have new options for solutions to setbacks that may occur.

Prospects for economic growth and productivity

The National Center for Strategic Planning (CEPLAN) emphasizes that Artificial Intelligence in Peru could have a transformative impact on the Peruvian economy.

According to estimates by the Inter-American Development Bank, it is projected that by 2030, AI could double the country’s Gross Domestic Product (GDP) and triple productivity rates to 7.3%.

This means that the use of AI in the framework of the national digital transformation process also prioritizes fostering economic and social development by ensuring its ethical, sustainable, transparent, replicable and responsible use.

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Barriers for small businesses

Although the advancement of AI promises significant improvements, its adoption is not without challenges, especially for smaller businesses.

Many of them face difficulties in investing in this technological innovation, often seeking partners or loans to carry out their ambitious projects.

Among the most common problems they face are difficulty integrating and scaling AI projects (28%), data complexity (26%) and lack of skills, experience and knowledge about technology (26%).

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Acceptance of AI in Peru and at a global level.

According to the Index Report 2023, which surveyed people from 28 countries, Peru ranks fourth among the nations most accepting of AI technology.

When asked whether they agreed that “products and services that use AI have more benefits than drawbacks,” 70% of Peruvians answered in the affirmative.

In comparison, China leads in AI acceptance with 78%, followed by Saudi Arabia (76%), India (71%) and Mexico (65%).

The report highlights the transformative potential of AI in society and the importance of understanding public attitudes towards this technology to inform decisions related to its development, regulation and use.

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The enactment of the law and national strategy around AI reflects the country’s commitment to technological innovation and its development.

As the adoption of AI expands in various productive sectors, a future is envisioned where this technology will play a key role in improving public services, economic growth and the country’s productivity.

Despite the challenges facing its implementation, the positive acceptance of AI in Peruvian society and the willingness to overcome obstacles pave the way for a promising and beneficial technological transformation for all.

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