Synthetic Intelligence is a trending subject globally, with many industries adopting and creating new purposes of the know-how. 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 know-how, and present examples of how AI has been applied thus far. To start out 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 keeping with Diana, AI just isn’t one thing new or lately found.
Quite a few industries have efficiently integrated AI into their automation processes, with info know-how (IT) being a major instance. The implementation of automated techniques has drastically elevated effectivity and productiveness, leading to streamlined operations and price financial savings.
AI has, nevertheless, skilled vital development over the previous decade on account of the event of latest applied sciences. In newer years, AI has been a part of a advertising and marketing increase due to the launch of simply accessible instruments, like ChatGPT.
Diana: “With the latest launch of ChatGPT, AI has had a number of advertising and marketing 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 firms and industries.
Many firms in LATAM have used AI for years with out even realizing it as a result of their huge know-how suppliers, reminiscent of 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 keeping with 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 world 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 keeping with Forbes (2023) and their article about AI-generated content material in Latin America, AI adoption is effectively on its manner within the area. A latest survey by IDC estimates that AI adoption averages 45% throughout the area, with Brazil main with 63% of firms utilizing the know-how.
Firms in LATAM are investing in AI growth and discovering strategic companions to assist them embrace technological adjustments.
Diana: “Working with AI helps firms be extra environment friendly, improve the standard of the method, and lower your expenses in the long run. Moreover, many firms wish to be pioneers with regards to know-how, so this encourages them to embrace AI.
Particularly in LATAM, Brazil is without doubt one of the main international locations by way of AI utility, growth, and laws as a pure results of the a number of tech firms which have established their headquarters on this nation.”
In the case of particular industries adopting AI, Diana spoke about banking, training, and advertising and marketing 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 faux profiles. And lots of firms within the area have developed specialised safety software program to promote around the globe.”
At this time, 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 primarily based on their recognized monetary wants and behaviors.
Schooling 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 school rooms as a part of their educational program. Professors usually are not solely instructing about AI, but in addition utilizing it to help their college students’ studying course of. Universities themselves are additionally making the most of AI to make their administrative processes extra environment friendly.
Diana: “A number of universities are even establishing partnerships with tech firms to assist develop and promote AI utilization.”
In the case of advertising and marketing and promoting, AI is utilized to create focused methods primarily based on a number of standards, design higher adverts, and analyze the effectiveness of the funding in numerous media to enhance price range spend (Neria, 2023).
AI available in the market analysis trade:
Diana: “AI is fed by knowledge, and the market analysis trade is an information trade, which implies that we are able to think about ourselves part of those that ought to be making the most of AI and implementing it in as a lot of our processes as we are able to.
I’ve carried out 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 contributors, 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 might say that it virtually does higher than an individual. So, we now have some very fascinating potential efficiencies.”
Nonetheless, knowledge bias is without doubt one of the greatest dangers of utilizing AI in MR. Many individuals count on that utilizing AI to investigate knowledge or info would eradicate researcher bias, nevertheless it may 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 common web conversations across the subject (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 usually are not detrimentally impacted by unverified sources.
Limitations to accelerating the adoption of AI in LATAM
Diana: “We want skilled minds to make use of AI in all industries, and we now have glorious universities that may begin serious about utilizing AI in lots of areas inside totally different firms. Nonetheless, after the pandemic, inflation is affecting numerous markets, and plenty of firms are proscribing their price range to spend money on coaching in new applied sciences. I hope that can begin altering within the subsequent yr.”
Massive multinational firms can play a big function in accelerating the adoption of AI within the area.
Diana: “In LATAM, many small and medium measurement firms present help companies to huge firms. I believe they need to associate 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 this planet with regards to know-how.
Diana: “We have to change that mind-set and present that we’re able to growing best-in-class know-how.”
The present atmosphere 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 know-how responsibly and positively is crucial, and all of us should promote its correct utilization throughout totally 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. Presently, she runs the corporate and has been a professor at Los Andes College since 2013.
