Artificial Intelligence Synergies: The Next Generation of Workers in the Service Economy
The post-pandemic era has brought a series of opportunities to the region, primarily in nearshoring. However, to take advantage of them, we need to create a more skilled workforce and companies to meet the demands13. In April 2024, the World Bank predicted that Latin America’s gross domestic product (GDP) would expand by only 1.6% in 2024, 2.7% in 2025, and 2.6% in 2026. This is the lowest figure in the world and “insufficient to drive prosperity”14. In fact, Latin America has several skills gaps, from language barriers to digital literacy, that impact the competitiveness of many industries, including services15. According to ECLAC, highly skilled workers are likely to benefit more from AI, and in fact, those who are trained in this technology tend to perform better16.
Perhaps solving the skills gap could at the same time help the region overcome other regions. AI unlocks the potential to enhance the capabilities of the service economy and increase productivity in historically marginalized sectors by automating tasks such as translation, information processing, and code generation.
Improve potential and early-stage applications
AI is making slow but steady progress when it comes to optimizing operations and solving persistent challenges across industries. Through IDB Lab and its new fAIrLAC initiative, international organizations such as the Inter-American Development Bank (IDB) are unlocking hundreds of opportunities to build “intentional models in terms of inclusion of people who would otherwise be left behind.” It shows that we support and provide funding. Arias Hoffman. Slang, an education technology startup that has developed a platform to accelerate English learning and help workers improve their skills, is one of the companies receiving financing from the IDB17,18. Harnessing the power of AI to overcome language barriers could help the region compete in servicing call centers that are currently primarily based in Asia.
Generative AI can be used for both customer service and software development because it “can solve coding problems faster and easier” than humans, according to Juan José Guarnales, president of Clip, a leading digital commerce and payments platform. 19 Egg is one of Latin America’s top 100 education technology startups for the second year in a row, “combining the science of collaboration with AI” to provide comprehensive and collaborative online training20,21. Algorithms can be used to identify the most contributing students in a class, organize effective study groups, and improve the skills of the local workforce. It also offers standard courses (such as AI for productivity) and personalized content to help solve the twin problems of digital upskilling and inclusion.22
In addition to upskilling employees, the region is also beginning to leverage AI in healthcare through applications and administrative support. The COVID-19MX application, launched during the pandemic, used AI models to detect possible cases of the virus, simplifying the reporting process and facilitating integration with other health management applications23. Caroline Melin, founder and CEO of Leona, a healthcare startup in Mexico City that gives patients 24/7 access to highly qualified pediatricians via Whatsapp, believes that AI will help doctors He talked about the potential for the robot to act as a “co-pilot” and save time at the doctor’s office. Administrative processes such as transcription of medical records24.
In the technology sector, companies such as IBM are establishing research institutes in emerging countries such as Latin America, specifically dedicated to advances in the field of AI, to find solutions to climate-related challenges and improve conversational technology. It has a team of 25. To achieve this objective, IBM Research Brasil is developing “the understanding of human speech, the theoretical foundations of natural language processing (NLP), and the use of machines to improve the understanding of Brazilian languages (including Portuguese and indigenous languages). We are researching “processing and generation”. “”26.
NotCo is the region’s star AI startup, currently valued at $500 million, ranked among the 50 most innovative companies of 2021, and Chile’s food technology unicorn. Using patented algorithms, learn how to combine plants to recreate the taste and texture of animal foods without sacrificing taste, feel, or function. It is sold at major American retailers such as Whole Foods and Walmart.
conclusion
AI can be a powerful tool to unlock the productivity and jump-start the development of Latin America’s tertiary industry (by supporting the skills workers need to compete in the service economy) is still in its early stages. A lack of investment in basic digital infrastructure, transformation strategies, literacy, and talent may prevent companies from taking advantage of this opportunity. However, by using advanced generative AI models developed overseas and at the same time investing in region-specific solutions, we can improve our competitiveness and advance development, making us more attractive as a destination for domestic and international investment. It becomes a thing.
