Latin America begins to echo in the AI market

During the Lisbon Web Summit it was indicated that Brazil, Mexico and Colombia are positioned as leaders in the implementation of AI

In the prestigious framework of the Lisbon Web Summit, a sector study reveals that companies from Brazil, Mexico and Colombia are positioned as leaders in the implementation of Artificial Intelligence (AI) in Latin America. This analysis, presented by Eduardo Fuentes, Director of Research at District, a platform specialized in emerging technologies in the region, highlights the prominent role of these nations in one of the main technological events in the world.

The platform has mapped around 500 startups in the region, which attracted investments for a total of 408 million euros in 2022, using AI in various processes. Brazil tops the list of these companies driven by “economic reasons”, attributing its leadership to being the main economy in Latin America and the maturity of its innovation system.

With the largest number of investors, startups and corporations immersed in the innovation game, Brazil has naturally concentrated the first wave of AI companies in the region, according to expert Fuentes.

29 % of Latin American companies use AI technology, compared to 34 % for the international average, according to last year’s IBM AI Adoption Index.

Fuentes highlighted that, in the case of Mexico, economic strength is combined with its proximity to the US, which, in his opinion, favors the development of AI in the country.

Health at the Front: Leading companies in the use of AI in Latin America

In the Latin American región, health companies are the main users of AI, applying it in the early diagnosis of cancer through the interpretation of images. In addition, other companies are working on identification applications, such as facial recognition to process payments, Fuentes revealed.

Despite advances, they face significant challenges, such as organizing data and finding highly skilled labor to tackle this cutting-edge technology.

K. Tovar

Source: Bancaynegocios

(Reference image source: Unsplash+)

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