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Contxto – Very few people knew what Big Data, the Internet of Things (IoT) and Artificial Intelligence (AI) meant a few years ago. Heck, even if I was familiar with these terms, I underestimated how relevant they would become for business development.
As technology improves and becomes increasingly more embedded into our daily routines, AI, IoT and Big Data are taking center stage.
That’s to say, these three digital innovations are essential to understanding modern day as well as future trends. At this point, they are almost impossible to ignore in today’s startup ecosystem.
To reinforce their impact, Inteligencia Mexico Conference (IMC) intends to gather a large share of the region’s brainpower into one auditorium to discuss these topics. C-level executives, data scientists, developers, academics and entrepreneurs are all invited to join the event from June 19th to 20th in Mexico City.
Inteligencia Mexico Conference has created a jam-packed agenda available to community members and business associates. Around 1,000 attendants can look forward to a variety of sessions centered around the digital revolution that is analytics, IoT and AI.
There will also be 46 speakers and over 60 exhibitors in 6,000 square meters. With topics ranging from machine learning in the fintech industry to the importance of IoT in the energy sector, this is the go-to conference for tech professionals wanting to implement new practices.
Additionally, it will be an ideal time to network with government and business partners for collaborative projects.
Most of the topics covered at this conference will delve into digital culture and its growing dependency on analytics, IoT and AI. Another theme will be the importance of tech in government initiatives as well as policies to promote their implementation and usage. Of course, these topics will be backed up by successful case studies.
Various networking activities could also potentially help guests find their next supplier, client or even co-founder.
Lined up for the event are 33 conferences as well as eight classes. Over the course of two days, people will listen to lectures, participate in workshops and network with key industry players.
One of the guest speakers will be Julián Ríos, the founder of the EVA bra helping women detect early-stage breast cancer. He will share his insights on AI’s and big data’s potential to transform industries such as healthcare.
Rahul Vijay, Head of Global Connectivity at Uber, will also give a speech about IoT and interconnectivity. On top of that, Siri’s co-founder and Viv’s CEO, Dag Kiettlaus, and Hugo Najera, the General Director of BBVA’s Business Development, will also share their expertise.
Other world-class speakers from companies will attend and provide insightful knowledge. These include Femsa, Intel, Citibanamex, Intelimétrica, Coppel and L’Oreal.
There are two main pricing options. First, there is the IMC pass, which allows attendees to access to conferences and workshops, exhibition area, networking activities, a restaurant meal per day, complimentary coffee, in addition to the event’s mobile app.
The premium pass, though, has some interesting extra perks. It will include all of the above plus an express badge, reserved seats for keynote conferences and private dinners alongside speakers.
Personally, I think it’s astounding how the lack of knowledge about these subjects can endanger a country’s business and economic models. I consider data, IoT and IT to be pivotal parts of any commerce strategy, at least they should be.
One country, in particular, where these topics are neglected is Mexico. The global competitiveness report, performed by the World Economic Forum, declared that Mexico fell 11 places in technological maturity in just 10 years. Nowadays, it ranks 71 out of the 131 evaluated countries.
Therefore, this conference represents more than just networking and lectures but the much-needed digitization of Mexico’s business culture. The accelerator event hopes to serve as a springboard for this endeavor.
Latin America’s state of the market
Latin America is a great place to introduce new technologies since most of the problems are caused by human errors and bad practices. Institutions and other organization aren’t very trusted among the population, either.
That’s why unbiased data and machines are a great way for people to make better-informed decisions. This is especially true among businesses trying to engage better with clientele. Some would be more inclined to trust statistics rather than rely on public sources. Certainly, this is something that technology can foster.
This ever-growing trend is more than just a trendy buzzword. People are already thinking ahead and looking for opportunities in the IoT world. Even more, according to an Evans Corporation report in 2018, 60 percent of Latin American developers had an IoT project in mind. Furthermore, 22 percent of them were already executing it.
The same goes for businesses. For instance, Latin American companies are seemingly more open to implementing IoT solutions than ever before. Around 90 percent of those surveyed said that they’re willing and capable of adopting them. All the while, the global average was only 80 percent.
In the same survey, 60 percent of those same companies said they’re already using IoT solutions to improve work processes. Among these companies, we could find several industries including transportation and logistics, oil, agriculture, manufacturing, hospitality, healthcare, retail and governmental institutions.
According to the report, using these technologies helped them with issues such as loss prevention, customer service and delivery process.
Overall, this market could be worth potentially US$860 billion in Latin America. However, for this to happen sooner than later, certain issues must be addressed. Broadband penetration and governmental infrastructure continue to be some areas needing the most improvement.
Stay tuned because there are interesting things going on that will certainly improve IoT’s functionality in the region. Currently, Uruguay has already launched the continent’s first 5G network, setting the pace for other Latin American countries to roll out their own.
Latin America is also steadily implementing tech tools for traditional businesses to use. For example, big data and analytics used to only be relevant for IT companies.
Meanwhile, real estate businesses or consumer brands rarely thought about using hard or cold data. Little did they know that they could analyze customer demographics or money spending habits with numerical information.
Well, that’s changing based on Big Data’s growing market value. In 2017 alone, Latin America’s analytics and data markets peaked at US$2,992.5 million. It’s also expected to reach over US$8,500 million by 2030, meaning a CAGR of 19.2 percent.
Latin America’s market is also perfect for data and future technologies since it has a young population. According to the World Bank, 43 percent of the population is under 35 years old while 80 percent live in big cities.
There are already certain Latin American countries leading this evolution. Specifically, Brazil is currently making huge strides with over 46 percent of the market. Mexico trails behind in second place with 27 percent. Other prominent contenders include Colombia, Chile, Argentina and Peru with 8, 7, 5.6 and 2.4 percent, respectively.
Some view AI reshaping the future as both a good and bad thing. In Latin America, though, the general consensus seems positive. In fact, according to the PWC Report, 65 percent of Latin American CEOs believe AI will have a far greater impact than the internet itself. Furthermore, 34 percent intend to implement AI strategies in the next three years.
Come to think of it, Mexico has already started a nationwide campaign with AI alongside eight other world powers. Areas of focus range from education, regulatory policies, R&D, data protection and ethical guidelines for the technology.
Needless to say that developing nations, like most Latin American countries, can envision themselves benefiting from Big Data, IoT and AI.