- “But as they expand farther into regions like the Middle East, and nations like Mexico and Brazil, the challenges become less transparent…That includes securing tax services, managing suppliers, navigating FX exchanges to minimize charges and working through VAT systems with different rules governing them.
- According to Oxford University data, as of 2017, the largest overall supplier of online labor is India, with 24 percent of that global digital workforce.”
- “In Oxford Insights’ AI Readiness Index 2019, Brazil was ranked 40 out of 192 countries, a sign that the South American powerhouse is moving up in the AI world.
- Accenture forecast that by 2035 AI will boost annual growth rates across South America by about one full percentage point of GDP
- One area that’s particularly ripe for AI innovation is the financial services sector that was hit hard, and then heavily regulated, after major bank crashes in the 1980s and 1990s.
- Mary Meeker’s Internet Trends 2019 report ranks Brazil’s population as the fifth largest group of internet consumers in the world.”
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- “According to a study carried out by consulting firm Ducker Frontier on behalf of Microsoft, Brazil could achieve a GDP increase of 7.1% with full adoption of artificial intelligence technologies.
- Also last month, the Brazilian government announced it will create a network of eight research facilities focused on artificial intelligence.”
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“Latin American Talent
The convergence of several factors, and the chiseling hand of time, have turned Latin America into a sweet spot when it comes to headhunting. Latin American universities offer a wide range of software related degrees, from undergraduate to doctoral, particularly in Brazil, Argentina and Chile.
R&D in Brazil
Taking a closer look at Brazil, we can point to the São Paulo Research Foundation, or FAPESP, which is a public foundation with the mission to support research projects in higher education and research institutions.
Applied AI in Argentina
In Argentina, the software community has been growing strong both in the industry and academia. In 2015, the International Joint Conference on Artificial Intelligence (IJCAI) was held there; in 2017, the International Conference on Software Engineering took its turn.
Chile and the IoT
Chile has shown to be particularly fruitful in the development and adoption of the Internet of Things (IoT). The Chilean company Satelnet has been making it possible for its clients to run operations in remote locations in the south of the country, and to access online information even on mobile bases. They can view and control remote cameras or run any production process automatically through satellite technology.”
- “The bank, which has a portfolio of over 71 million customers, has been working on a platform dubbed Bradesco Artificial Intelligence (BIA) over the last four years.
- Currently, 90% of the bank’s services are already available via the app, but sales made via mobile currently represents about 20-30% of the overall business volume. “It’s a low [percentage]. We want to increase sales in that channel,”
- When it comes to key lessons learned from Bradesco’s AI journey, Minas’s main words of peer advice are around curation: “It is fundamental to have a team that oversees that specific activity, otherwise the results may be catastrophic.”
- ‘My advice is to assemble a team that focuses on information curation, both from the perspective of what is being fed into the platform and especially what exactly the algorithms are delivering to clients. The technology aspect is really the simplest part.'”