Tech News in the Latin America Region
A recent Harvard Business Review report focused on the rate of technology adoption in the Latin American region. What they found was that the region is moving towards adopting new technologies like AI to improve services such as airline flights, business processes, and more.
One of the biggest benefits organizations reaped from using new technologies is the increased productivity of workers. The survey revealed that half of the respondents cited increased productivity or reduced labor costs as the main benefits of using new technologies in their business.
Despite challenges in the region, 90% of the respondents stated that using emerging tech is highly important to the future success of the organization. These organizations, like some organizations in the U.S. struggle with attracting and retaining tech talent. One company, LATAM Airlines, for example, committed to keeping their work remote in order to attract the best talent throughout the region.
Thanks to Latin America’s massive population and quick internet adoption, the region has the potential for growth and improvement. Despite some of its challenges such as talent, infrastructure, and financial investment, the region is moving in the right direction. The last few years have seen increased venture capital investment throughout the region.
The report serves as one more piece of evidence that Latin America is a unique region with lots of growth potential. The population is seeking solutions to their everyday problems via technology. Emerging technologies have made their way there and organizations, as well as talent, are embracing the opportunity.
Mexico, for example, graduates about 130,000 software developers, engineers, and tech-related positions every year, Columbia graduates about 84,000, Costa Rica about 4,000 and Brazil 475,000. Learn more valuable insight in our Tech Salaries Report.
Interested in the tech industry in Latin America? Learn more about how VC investment has turned the region into a tech talent hotspot.