Mexico City, March 5, 2024 – Square Root Marketing, the independent marketing and PR agency, successfully hosted the panel titled «A Future Written with Generative Artificial Intelligence: Insights for Businesses.» The event, moderated by Jesús Hernández, editor-in-chief of Milenio, brought together three prominent women 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 becoming increasingly relevant in the technology sector. «Having the participation of women in the development of transformative tools such as 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 all,» said 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 an ever-changing and competitive environment.
According to McKinsey’s report «The Economic Potential of Generative AI: The Next Frontier of Productivity,” generative AI has immense potential for industries such as banking, high-tech, and life sciences, with the potential to significantly impact revenue generation in these sectors. In the banking sector alone, AI could unlock additional value ranging from $200 billion to $340 billion annually if fully implemented across various use cases. Similarly, in the retail and consumer packaged goods industries, generative AI could have a substantial impact, potentially contributing $400 billion to $660 billion annually. These figures underscore the transformative power of generative AI and highlight the immense opportunities it presents for businesses across different sectors.
Cybersecurity is another area that benefits from generative artificial intelligence. In an increasingly vulnerable digital environment, AI is enabling businesses to detect and respond to threats faster and more effectively. However, it is crucial that workers are properly educated and informed about the generative AI being used, as human error stands as a primary cause for cyberattacks.
«Technological evolution has transformed our perception of cybersecurity and privacy, presenting unprecedented challenges such as voice spoofing,” said Nazly Borrero, Top Woman in Cybersecurity and consultant at SIDWELL CONSULTORES. “It is critical that companies understand these risks and take proactive measures to protect themselves and their customers in this new digital landscape.»
According to the McKinsey report, generative AI is gaining momentum in customer service due to its ability to automate interactions using natural language. According to research, in a company with 5,000 customer service agents, the implementation of generative AI increased problem resolution by 14 percent per hour and reduced the time spent handling an issue by 9 percent. In addition, it reduced agent turnover and requests to speak with a manager by 25 percent. Crucially, productivity and quality of service improved primarily among less experienced agents, while the AI assistant did not increase, and sometimes even decreased, productivity and quality metrics for more experienced agents. That’s because AI assistance helped less experienced agents communicate using techniques similar to those of their more experienced colleagues.
«AI is radically transforming the customer experience in Latin America by providing faster, more personalized and effective solutions,” added Angélica Figueroa, marketinging director at TOGA and member of the board of directors of Mundo Contact. “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.”
Generative artificial intelligence is revolutionizing the way businesses operate and engage with their customers. With a focus on female leadership and the strategic implementation of this technology, companies can boost their growth and compete in an increasingly digitized and demanding market.
About Square Root Marketing
Square Root Marketing is an independent marketing and public relations agency with offices in Miami and Mexico, and present in more than 10 markets in Latin America. The agency’s mission is to create authentic connections between brands and their audiences. Its clien portfolio includes renowned organizations such as Marriott International, Diageo, Millicom Tigo, Backbase, 2innovate, and Techreo, among others. The agency is recognized for its flagship products such as the Thought Leadership program BrandMe Up™; its strategic public relations program, Public Square™; and its proprietary generative artificial intelligence platform, SquareScribe™. For more information about Square Root Marketing, visit our website on www.squarerootmarketing.com and follow our updates on Instagram and LinkedIn.
