Brazil is far ahead of other Latin American countries when it comes to harnessing artificial intelligence (AI), with more than 63% of companies in the country using the technology for several business purposes.
Latin America’s AI adoption as a region averages 45%, according to a study by the IDC.
Seven out of ten companies in Brazil are using artificial intelligence for a wide array of purposes, mostly to identify consumer behavior and upcoming trends.
Some companies are using AI in the hope of discovering new business opportunites, with reliability and security being major factors driving the adoption of technology.
In IDC’s survey, 90% of respondents said they invested in data and analytics with hopes of identifying trends and consumption patterns, a percentage higher than the Latin American average of 60%.
“86% of the companies interviewed in the region already use data and analytics solutions. However, for some analyses, 38% still use only spreadsheets, which shows that there is a lot of room for growth,” said Fabio Martinelli, an analyst at IDC.
The report does not confirm whether the higher adoption of AI resulted in an increase in automation and job loss in Brazil or elsewhere in the region, however.
IDC conducted the survey in eight countries, including Mexico, Chile, Argentina and Brazil, interviewing business executives representing more than 300 companies.