Synthetic Intelligence is a trending subject globally, with many industries adopting and creating new functions of the know-how. LATAM isn’t any exception to this pattern, and whereas AI is blossoming in LATAM, there are nonetheless some challenges to think about.
Welcome to our first article in a collection devoted to synthetic intelligence in LATAM. This collection is meant to discover perceptions and utilization of AI within the area throughout completely different industries, higher perceive alternatives and limitations of the know-how, and present examples of how AI has been applied to this point. To begin this collection 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 finding out the implementation of AI in Latam for the previous a number of years.
The evolution of AI in LATAM.
In response to Diana, AI isn’t one thing new or not too long ago found.
Quite a few industries have efficiently included AI into their automation processes, with info know-how (IT) being a first-rate instance. The implementation of automated programs has enormously elevated effectivity and productiveness, leading to streamlined operations and value financial savings.
AI has, nonetheless, skilled vital development over the previous decade because of the event of latest applied sciences. In newer years, AI has been a part of a advertising increase due to the launch of simply accessible instruments, like ChatGPT.
Diana: “With the current launch of ChatGPT, AI has had a number 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 a number 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 know-how suppliers, similar to Fb, SAP, Monday.com, and others, these instruments all of us have heard of, had been already utilizing it as a part of their processes.”
Statistics relating to the rising curiosity in AI inside Latin America.
Knowledge point out that ChatGPT has been positively adopted in LATAM. In response to Statista (2023), Brazil leads the rating of Latin American and Caribbean nations 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 world scale, these figures place the three nations 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 several industries
In response to Forbes (2023) and their article about AI-generated content material in Latin America, AI adoption is nicely on its manner 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 know-how.
Firms in LATAM are investing in AI growth and discovering strategic companions to assist them embrace technological modifications.
Diana: “Working with AI helps corporations be extra environment friendly, enhance the standard of the method, and get monetary savings in the long run. Moreover, many corporations wish to be pioneers relating to know-how, so this encourages them to embrace AI.
Particularly in LATAM, Brazil is among the main nations by way of AI utility, growth, and rules as a pure results of the a number of tech corporations which have established their headquarters on this nation.”
Relating to 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 efficacious for safety measures, like figuring out fraud and pretend profiles. And lots of corporations within the area have developed specialised safety software program to promote all over the world.”
Immediately, many monetary establishments in LATAM promote their services via 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.
Training has additionally begun adapting to AI as a sector.
Diana: “The training sector has advanced to face the challenges of the AI revolution, and [AI] is at present 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 at present selling the inclusion of AI in lecture rooms as a part of their tutorial program. Professors are usually not solely instructing about AI, but additionally utilizing it to assist 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.”
Relating to advertising and promoting, AI is utilized to create focused methods based mostly on a number of standards, design higher adverts, and analyze the effectiveness of the funding in several media to enhance finances spend (Neria, 2023).
AI available in the market analysis trade:
Diana: “AI is fed by knowledge, and the market analysis trade is a knowledge trade, which implies 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 carried out some assessments utilizing AI instruments to make the questionnaires adapt to the questions requested within the in-depth interviews, in response to the solutions given by the individuals, and to have a stage of dialog similar to what a pollster or a moderator of in-depth interviews might have.
The reality is that the outcomes are spectacular. Generally I’d say that it virtually does higher than an individual. So, we’ve some very fascinating potential efficiencies.”
Nonetheless, knowledge bias is among the greatest dangers of utilizing AI in MR. Many individuals count on that utilizing AI to research knowledge or info would get rid of researcher bias, however it might have the alternative impact because the evaluation could also be impacted by the AI engine utilized and its personal info sources, the AI studying mannequin, and normal web conversations across the subject (Dakduk & Acevedo, 2023).
We nonetheless want a human researcher perspective to validate that the output is smart contemplating the market context, and that the outcomes are usually not detrimentally impacted by unverified sources.
Limitations to accelerating the adoption of AI in LATAM
Diana: “We want educated minds to make use of AI in all industries, and we’ve glorious universities that may begin occupied with utilizing AI in lots of areas inside completely different corporations. Nonetheless, after the pandemic, inflation is affecting numerous markets, and plenty of corporations are proscribing their finances to spend money on coaching in new applied sciences. I hope that can begin altering within the subsequent 12 months.”
Giant multinational corporations can play a major position in accelerating the adoption of AI within the area.
Diana: “In LATAM, many small and medium dimension corporations present assist providers to large corporations. I believe they need to accomplice up and work towards exploring the utilization of the know-how collectively.”
Moreover, there appears to be an inside notion that LATAM is behind different areas on the planet relating to know-how.
Diana: “We have to change that mind-set and present that we’re able to creating best-in-class know-how.”
The present atmosphere presents a wonderful alternative to indicate the world our nice capabilities.
Given the present and potential utilization of AI in LATAM, having an moral method and utilizing the know-how responsibly and positively is crucial, and all of us should promote its correct utilization throughout completely different eventualities.
Diana invitations everybody in Latin America to grab this pivotal second, embrace positivity, take pleasure of our achievements, and acknowledge the optimistic affect 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 Faculty. She has labored at Quala, Ipsos, and Nielsen, and based DEEP Market Analysis twelve years in the past. At the moment, she runs the corporate and has been a professor at Los Andes College since 2013.
