Large Latin American enterprises are increasingly using artificial intelligence (AI) to gain operational efficiency, with logistics and supply chain services providers being at the forefront.
Around 80% of entrepreneurs running larger companies in the region launched at least one AI initiative last year, according to MIT technology review insights. Considering the report, Latin America is very much eager to explore artificial intelligence, but lack of skilled talent and the high cost of technology are likely to hamper these efforts.
Many consumers in the region are unfamiliar with AI technology, stated MIT.
So far, customer services industry has used the technology to a maximum extent. However, the report says, the number of companies using AI in sales/ marketing, logistics and supply chain will double over the next two years.
Meanwhile, an increasing number of countries in the region – including the likes of Brazil, Mexico, Chile and Argentina – are mulling developing a national AI strategy. And the region’s reputed scientific institutions and universities are collaborating with global technology firms to develop AI-based solutions.
For example, Sao Paulo State Research Foundation has teamed up with IBM to establish an AI research lab in Brazil.