Why the Latin American Software Industry is Thriving
Interview with Sam Altman. AI and the future of work. Keyway leadin LatAm's innovation in the US real estate sector. AI business adoption. AI for indigenous communities in LatAm.
The latest news and trends in the Latin American AI startup scene.
Share your stories to ai@contxto.com.
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Keyway: Leading Latin American Innovation in the U.S. Real Estate Sector
Keyway, a real estate tech startup founded in 2020, aims to connect investors with real estate opportunities in the US market. The company utilizes advanced technologies such as AI, machine learning, and data science to provide predictive analysis and improve operational performance.
Keyway focuses on properties valued between USD$3 to USD$50 million, with a particular focus on Mexican investors who are major players in purchasing small and medium-scale commercial properties in the US.
The company aims to offer a turnkey solution for accessing the US real estate market and has raised over USD$40 million in investments. Keyway plans to continue expanding its technological and geographical presence, to manage USD$300 million in real estate assets this year. (Contxto).
6 Reasons Why the Latin American Software Industry Is Thriving
The software industry in Latin America is thriving due to several factors. The region has become a hotspot for startups and entrepreneurship, with cities like São Paulo and Buenos Aires fostering a culture of innovation. Government support has also played a crucial role, with policies and initiatives stimulating investment and promoting digital entrepreneurship.
Latin America has an abundance of tech talent, with many universities offering computer science programs and companies providing specialized training. Nearshoring and outsourcing have become popular options for companies looking to develop software projects at a lower cost. Collaboration with international partners and the ability to overcome challenges has also contributed to the industry's success.
Outsourcing to Latin America offers benefits such as cost savings, proximity and time zone alignment, cultural affinity, and a skilled talent pool. The cost of hiring Latin American software developers varies based on project requirements and technologies. Overall, Latin America's software market is growing, and the region is teeming with highly skilled developers. (Hire with Near)
Quick News
Lenovo to spend USD$15million on AI only in Latin America
Lenovo plans to invest $100 million in its global artificial intelligence network, with 15% of the investment allocated for Latin America.
The initiative, called AI Innovators, aims to create an ecosystem with over 150 AI applications and support startups specializing in AI.
Lenovo has already financially supported seven Brazilian startups through its accelerator fund.
The company is looking to collaborate with customers and partners in various sectors such as retail, manufacturing, smart cities, finance, and health. (Contxto)
Wayra Hispam makes new investments in three startups from Latin America
Wayra Hispam, the open innovation arm of Telefónica Movistar, has added three new startups to its portfolio. The startups specialize in AI, FinTech, and Digital Regulation (RegTech), and are expected to have a significant impact on organizations' operations.
The new additions include Chaindots, a collaborative risk ecosystem platform; Erudit, an AI-based human resources management platform; and Glim, an employee financial benefits platform.
Wayra's investment in these startups not only strengthens Telefónica Movistar's commitment to open innovation but also supports the growth of technology companies in Latin America. (Contxto)
Startup Grind Santiago boosts innovation with an event on Artificial Intelligence
Startup Grind Santiago is hosting the "#AISummerParty: the Future of Artificial Intelligence" event on December 14, 2023.
The event will feature prominent figures in the field of AI, including Daniel Atik and Maria Les Spalthoff. Attendees will have the opportunity to learn about recent advances and achievements in AI, as well as network with professionals in the industry.
The event aims to provide a space for people of diverse backgrounds and experience levels to participate and benefit from discussions and collaborations. (Contxto)
NEORIS introduces an Artificial Intelligence tool to boost efficiency and security in businesses
NEORIS, a technology company, has developed an AI solution that uses advanced object detection and tracking to identify behavioral patterns in vehicles and personnel.
The solution has been implemented by CEMEX, a construction company, to improve logistics efficiency. It utilizes computer vision, image recognition, edge computing, neural networks, and data analysis.
The tool provides analytical reports, dashboards, and real-time operational information, with a 90% accuracy rate in object location. The solution is currently in use in eight CEMEX plants and can be customized for various applications. (Contxto)
AWS reaches over 100,000 AI clients in Latin America
Amazon Web Services (AWS) has reached over 100,000 active customers for its AI services in Latin America. The customer base includes traditional AI solutions as well as advances in generative AI.
Some of AWS' regional AI clients include MercadoLibre, Itaú, Transbank, CredibanCo, C&A, and various telcos, hospitals, and financial and retail groups.
The main market for AWS in the region is Brazil, where it has invested over $3.8 billion since 2011. (bnamericas)
Nubiral and Microsoft launch service with advanced Artificial Intelligence solutions
Nubiral, a global innovation and digital transformation company, has partnered with Microsoft to bring AI to new heights. They are focusing on implementing innovative solutions using the Azure cloud.
Their collaboration has resulted in Microsoft Fabric, a versatile solution that offers various services for data movement, engineering, integration, storage, and real-time analysis.
Fabric is applicable in industries such as finance, manufacturing, media, and logistics. It also includes healthcare-specific tools for combining and analyzing medical data. (Contxto)
The UNESCO Business Council for the Ethics of AI was officially launched
The Business Council for the Ethics of AI has been launched in Latin America and the Caribbean. Co-chaired by Microsoft and Telefónica, the council aims to promote ethical practices in the AI industry.
It serves as a platform for companies to exchange experiences and meet based on UNESCO recommendations.
The council will support UNESCO's recommendation by applying the Ethical Impact Assessment and providing insights into the economics and finance of AI. (UNESCO)
Sign-Speak, created by latina, translates sign language in real time
Yamillet Payano, a Latina entrepreneur, has created Sign-Speak, an application that uses AI to translate sign language into voice and text, and vice versa. Payano was motivated by her deaf friend's struggles and the lack of interpreters.
The application aims to empower and include individuals with hearing disabilities by facilitating smooth communication.
Deaf individuals have praised the revolutionary nature of the app and its ability to enable barrier-free conversations.
The technology uses generative AI to learn and create content, providing opportunities for deaf individuals similar to those who can hear. (Contxto)
Artificial Intelligence is used by indigenous communities in Latin America
The United Nations Educational, Scientific and Cultural Organization (UNESCO) has released a report highlighting the need to include indigenous communities in the development and implementation of AI.
The report emphasizes that AI can preserve and transmit the knowledge and languages of indigenous communities.
It also argues for the democratization of AI while respecting the human rights and perspectives of these communities. (The Yucatan Times)
The 10th International Conference on Information Management and Big Data (SIMBig) will take place from December 13-15, 2023, at the Instituto Politécnico Nacional in Mexico.
SIMBig is one of the first conferences in Latin America to bring together various areas of data science, including Artificial Intelligence, Machine Learning, and Healthcare Informatics.
The conference aims to bridge different areas and attract more researchers and students interested in data mining and big data. (SIMBig Conference)
AI Education
Intro to Large Language Models
This is a 1 hour general-audience introduction to Large Language Models: the core technical component behind systems like ChatGPT, Claude, and Bard. What they are, where they are headed, comparisons and analogies to present-day operating systems, and some of the security-related challenges of this new computing paradigm.
How to get started with data visualization
This article provides practical advice for getting started in data visualization. It suggests finding out what aspects of data visualization you enjoy, not worrying too much about the data or tools initially, and then starting to visualize data and improving your skills. It emphasizes the importance of understanding what you like about data visualizations and recommends exploring favorite visualizations to identify common traits. The article also suggests using simple data sources, getting rid of irrelevant data points, and using data about topics you understand. It reassures readers that the choice of tools is not as important as gaining experience and developing skills.
Artificial Intelligence for Beginners - A Curriculum
Microsoft's 12-week AI curriculum covers various aspects of Artificial Intelligence, including symbolic AI, neural networks, computer vision, and natural language processing.
Food for Thought
Interview: Sam Altman on being fired and rehired by OpenAI
Sam Altman, the CEO of OpenAI, has returned to his position after being fired by the company's board. The reasons for his firing are still unknown, as an independent investigation is being conducted. Altman expressed his willingness to cooperate with the investigation and declined to discuss the details at this time. He mentioned that there were misunderstandings between himself and the board members.
Altman's decision to return was driven by his love for the company, its mission, and the people involved. He also noted that the support of the employees played a significant role in his return. Altman stated that improving the company's governance structure will take time and is not a one-week task. He confirmed that OpenAI's approach to safety work will remain the same.
Altman also mentioned that the company will continue to make progress in its technology and prioritize safety and benefit. He acknowledged that the company can function without him, which gives him a sense of relief and confidence in the leadership team. (The Verge)
AI And The Future Of Work
AI is expected to provide significant value to businesses, with 75% of enterprise applications utilizing AI by the end of 2021. While AI may replace some jobs, it also creates new opportunities in coding, design, and technical roles. AI can automate tasks, leading to increased productivity and allowing employees to focus on other responsibilities. However, the implementation of AI requires businesses to adapt gradually and provide appropriate training.
AI can boost economic productivity and create new job roles, but it may also lead to job displacement and skills mismatches. To prepare for this shift, training and education are essential. AI can transform businesses by introducing innovative services and products, improving customer satisfaction, and fostering innovation and growth.
However, it requires a balance between technological innovation and human capital development. Additionally, AI has the potential to address societal challenges such as inequality and access to education and training, thereby mitigating the impact of these challenges on the world of work. (Artificial Intelligence +)
Bridging the AI Divide: Navigating the Hype and Reality of Business Adoption
The article discusses the disconnect between the hype surrounding AI in business and its actual implementation. While there is a lot of talk about AI, the adoption rates are relatively low.
Only a small percentage of businesses in the US and UK are currently using AI, with barriers such as technological challenges, lack of skilled personnel, and high costs hindering its widespread adoption. The article highlights the need for education and resources to bridge the gap and emphasizes the importance of integrating AI strategically and responsibly in businesses.
The potential benefits of AI, such as automation and enhanced decision-making, are acknowledged, but concerns over job displacement and ethical considerations are also raised. Overall, a balanced and thoughtful approach is needed for successful AI integration in business. (AI for Dinosaurs)
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