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The adoption of artificial intelligence (AI) in Latin America could boost regional productivity by between 1.9% and 2.3% annually and generate between US$1.1 and US$1.7 trillion in additional economic value each year, according to an analysis by the World Economic Forum and McKinsey & Company.
AI is emerging as one of the most transformative technologies of the new “Intelligent Era,” automating processes, optimizing workflows, and strengthening decision-making in businesses and governments. This advancement would allow workers and organizations to focus on higher value-added tasks, driving growth without significantly increasing investment levels in capital or time.
A Strategic opportunity for regional competitiveness
Latin America has historically faced productivity gaps compared to other regions of the world. In this context, the adoption of AI represents a strategic opportunity to close this gap and improve global competitiveness. The report highlights that approximately 60% of the potential value would come from analytical AI, while generative AI could contribute an additional US$500 billion to US$700 billion per year.
Initial advances in key sectors
The study identifies early AI adoption in industries where the region already possesses competitive advantages. In the agricultural sector, for example, drones and advanced analytics are being used to improve terrain surveying and soil productivity. In mining, AI is being applied to optimize geological analysis and enhance workplace safety. In the financial sector, technology has become a cornerstone for process automation, risk analysis, and service personalization.
Gaps in value capture
Despite the potential, the real economic impact remains limited. Only 23% of Latin American organizations report generating any economic value with AI, and a mere 6% claim to obtain significant benefits. Furthermore, the use of the technology is concentrated primarily in large companies, while six out of ten small and medium-sized enterprises (SMEs) do not report measurable benefits.
Roadmap for boosting AI in the region
The report proposes four strategic lines to accelerate the adoption and value capture of AI:
1. Define implementable strategies focused on transforming business models and core processes.
2. Build infrastructure and data networks, leveraging energy resources and improving connectivity, especially in rural areas.
3. Develop talent by training specialists, updating educational plans, and implementing retraining programs.
4. Strengthen trust, capital, and regional coordination by harmonizing regulations and promoting investment in infrastructure and research.
A path to the “Intelligent Era”
The World Economic Forum highlights that AI offers Latin America a historic opportunity to accelerate its economic development and address structural challenges. However, it emphasizes that growth must be sustainable, inclusive, and people-centered, with public policies and business strategies coordinated at the regional level.
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