AI-Driven Frauds are growing in Latin America
Latin America startups cutting good waste in the region. 79% of workers are now using generative AI. Amazon, Microsoft, Meta, and Alphabet are heavily investing in Generative AI.
The latest news and trends in the Latin American AI startup scene.
Share your stories to ai@contxto.com.
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Surging AI-Driven Frauds: A Growing Challenge for Latin America
Artificial Intelligence (AI) is being increasingly used by criminals in Latin America to carry out sophisticated frauds, posing significant challenges to security and crime prevention efforts in the region.
AI-powered voice cloning techniques, such as deepfakes, enable criminals to create realistic audio messages and deceive victims into believing they are conversing with someone they know, leading to extortion and financial scams.
While some countries have implemented AI-based solutions to combat AI-driven fraud, the rapid evolution and accessibility of advanced AI tools present a constant challenge in the fight against these types of scams in Latin America. (Contxto).
AI Automation: Creating an Equal Playing Field in the Financial Industry
The adoption of artificial intelligence (AI) is rapidly increasing, with large language models like OpenAI's ChatGPT playing a key role. In 2023, AI and machine learning are seen as the top technology trend for automation across various sectors.
Latin America stands to benefit from AI by removing language barriers, increasing competitiveness, and breaking down local monopolies.
Organizations need to have a specific use case for AI that tackles customer issues, and they must consider the broader impact on productivity, funds allocation, and the economy. (The Fintech Times)
Quick News
Supporting sustainability, digital health, and the future of work
The MIT and Accenture Convergence Initiative has chosen three research projects that will receive support.
The projects aim to bring together technological experts from academia and business to develop data-driven solutions that can have a tremendous impact on advancing technology and industry convergence.
The research projects will explore topics such as leveraging industrial clusters for decarbonization, combating childhood obesity through collaborative efforts, and utilizing AI algorithms to reshape the future of work in the post-pandemic era. (MIT News)
Three ambitious tech firms cutting food waste in Latin America
Latin America faces a major hunger and nutrition crisis, with around 130 million people unable to afford a healthy diet and nearly 57 million experiencing food insecurity.
Impact tech companies like Nilus, Kigüi, and EatCloud are leveraging technology and innovative solutions to address food waste, reduce hunger, and improve access to affordable, nutritious food in Latin America.
These companies are utilizing image recognition, machine learning, and AI-powered platforms to connect food producers, distributors, supermarkets, and food banks, resulting in the rescue of surplus food, reduced supermarket waste, and savings for consumers while benefiting vulnerable populations. (Pioneers Post)
Latin America Machine Learning Market Growth Rate to Skyrocket in the Next Decade
The Latin America Machine Learning market is expected to reach a value of USD 0.93 Bn by 2023, with a compound annual growth rate (CAGR) of 24.8% during 2018-2023.
Key growth factors include the drive towards a digital economy and the need for intelligent machines.
Key players in the market include Microsoft, Google, IBM Watson, Amazon, and Intel. (The Knox Student)
Avaya CEO Outlines Market Momentum in Mexico
Avaya is experiencing strong market momentum in Mexico, with recognition as one of the top companies and growing customer base across various industries.
The company has outlined its market momentum in Mexico, highlighting its growth across various industries such as public safety, healthcare, finance, retail, and hospitality.
The CEO emphasized the strong customer interest in customer experience solutions and the integration of AI innovation into contact centers. (Businesswire)
Yana: Virtual lifeguard for mental health in Latin America
Yana is an application that provides accessible mental health support and resources in Latin America, aiming to democratize access to mental health care in the region.
The starup has achieved explosive growth since its launch, amassing over seven million users and attracting over USD$1.8 million in investments. (Contxto)
LatAm IoT fund Indicator Capital readies at least 4 new deals
Brazilian venture capital fund Indicator Capital is set to make four new investments in the IoT sector, following a period of market uncertainty.
The firm has already made seven investments through its Fundo Indicator 2 IoT, with a total of BRL 333m (USD$68m) in resources raised from investors.
The fund's co-founder, Fabio Iunis de Paula, believes that the IoT segment is maturing and sees good prospects for trends such as hardware-as-a-service and the combination of artificial intelligence with IoT. (bnamericas)
This is how AI will shape early-career tech jobs
A recent study by McKinsey shows that 79% of workers are now using generative AI, with 22% using it regularly for their everyday work tasks.
To futureproof their careers, individuals should consider reskilling and staying updated on both hard skills related to AI and emerging technologies, as well as the essential soft skills that will remain valuable in the AI-driven work environment. (VentureBeat)
Heru Aims to Revolutionize Tax Management with Artificial Intelligence in Mexico
Fintech platform Heru has launched new tax services with AI technology, making tax filing more accessible and offering real-time advice through a virtual accountant.
Heru's innovative approach to tax management aims to simplify the process and help individuals and businesses fulfill their tax responsibilities more efficiently, narrowing the tax gap. (Contxto)
Big Tech x Generative AI Q2 Update
Big tech companies like Amazon, Microsoft, Meta, and Alphabet are heavily investing in Generative AI, with a focus on developing applications, improving search experiences, and enhancing productivity tools.
Microsoft is focusing on AI investments in Azure, Copilots, and Bing.
Meta is investing in AI infrastructure, recommendation systems, ad products, and consumer products.
Alphabet is using Generative AI to enhance Google search and improve productivity. (Tanay’s Newsletter)
Alibaba Cloud launches open source Large Vision Language Model Qwen-VL
Alibaba Cloud has released an open-source Large Vision Language Model (LVLM) called Qwen-VL.
Qwen-VL offers features like image-text recognition, description, question answering, visual location recognition, and image-text comprehension.
It can be used for tasks like image and document-based question answering, image caption generation, and fine-grained visual recognition. (Technode)
AI Education
Natural Language Understanding
This professional Stanford Online course draws on theoretical concepts from linguistics, natural language processing, and machine learning. Topics include domain adaptation for supervised sentiment, retrieval augmented in-context learning, advanced behavioral evolution, analysis methods, and NLP methods.
Data Science: Machine Learning
The course covers the basics of machine learning, including popular algorithms, cross-validation to avoid overtraining, and regularization. The main focus of the course is building a movie recommendation system, using training data to train algorithms and predict outcomes for future datasets.
Master Online in Applied Artificial Intelligence
The program is designed for business professionals and covers topics such as using ChatGPT4 and BardIA, designing with AI, improving advertising campaigns, and creating impactful presentations.
Food for Thought
AI Isn’t Good Enough
The U.S. is experiencing a significant shortage of workers across various industries, leading to higher wages and signing bonuses.
The current wave of AI automation, particularly in jobs requiring tacit knowledge, has the potential to address the shortage of workers but is limited by the shortcomings of current AI technology.
The success of automation in creating new tasks and delivering high productivity gains is crucial to outweighing the displacement of workers and preventing economic disruption. (SK Ventures)
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Jobs
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