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The Future of Generative AI in Latin American Companies

By: Helios Mondragon
 / Original Note: LINK 

The implementation of Generative Artificial Intelligence in business strategies is redefining business standards and promoting greater productivity in a highly changing and competitive environment.  

The implementation of generative Artificial Intelligence in business strategies is redefining business standards and promoting greater productivity in a highly changing and competitive environment. Square Root Marketing, the independent marketing and public relations agency, successfully organized the panel titled «A Future Written with Generative Artificial Intelligence: Perspectives for Companies». The event, moderated by Jesús Hernández, editor-in-chief of Milenio, brought together three prominent female executives from the marketing, customer experience, and cybersecurity sectors, who shared their knowledge and experiences in implementing generative AI in business strategies. 

In a highly competitive business world, female leadership is gaining increasing relevance in the technology sector, «having women participate in the development of transformative tools like generative artificial intelligence not only diversifies perspectives but also ensures that we are leveraging all our talent to change the course of business and build a more inclusive and successful future for everyone,» stated Andrea Padilla, founder and CEO of Square Root Marketing. 

The implementation of generative artificial intelligence in business strategies is redefining business standards and promoting greater productivity in a highly changing and competitive environment. 

According to the McKinsey report «The Economic Potential of Generative AI: The Next Productivity Frontier,» generative AI has immense potential for industries such as banking, high technology, and life sciences, with the possibility of significantly impacting their revenues. In the banking sector alone, the technology could unlock additional value ranging between $200 billion and $340 billion annually if fully implemented across various use cases. Similarly, in the retail and packaged goods industries, generative AI could have a substantial impact, potentially contributing between $400 billion and $660 billion a year. These figures underline the transformative power of generative AI and highlight the immense opportunities it presents for businesses in different sectors. 

Cybersecurity is another area benefiting from generative artificial intelligence. In an increasingly vulnerable digital environment, AI is enabling companies to detect and respond to threats more quickly and effectively. However, it is crucial that workers are adequately educated and informed about the generative AI tech being used, as human error is one of the main reasons cyberattacks are successful.

Angélica Figueroa, Nazly Borrero, Jesús Hernández y Andrea Padilla 

«The technological evolution has transformed our perception of cybersecurity and privacy, presenting unprecedented challenges such as voice impersonation. It is essential that companies understand these risks and adopt proactive measures to protect themselves and their customers in this new digital landscape,» 

Nazly Borrero, Top Woman in Cybersecurity and Consultant at SIDWELL CONSULTORES.  

According to the McKinsey report, Generative AI is gaining momentum in customer service due to its ability to automate interactions using natural language. Research shows that in a company with 5,000 customer service agents, the application of generative AI increased problem resolution by 14 percent per hour and reduced the time spent handling a problem by 9 percent. Additionally, it decreased agent turnover and requests to speak with a manager by 25 percent. 

It is crucial to highlight that productivity and service quality improved primarily among the less experienced agents, while the AI assistant did not increase, and sometimes even decreased, the productivity and quality metrics of the more experienced agents. This is because AI assistance helped less experienced agents communicate using techniques similar to their more experienced colleagues.  

«AI is radically transforming customer experience in Latin America by providing faster, personalized, and effective solutions. We are seeing how companies in the region are using AI to improve customer satisfaction, increase operational efficiency, and differentiate themselves in an increasingly competitive market.» 

Angelica Figueroa, marketing director at TOGA and board member at Mundo Contact 

Generative artificial intelligence is revolutionizing the way companies operate and relate to their customers. With a focus on female leadership and the strategic implementation of this technology, companies can enhance their growth and compete in an increasingly digitalized and demanding market.  



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