Colombia leads the region with the highest percentage of companies that confirm an increase in their investments in this area.
The AI market in the country has seen a growth of 25.1%, with the healthcare, commerce and finance sectors leading this increase. The main application of this technology is in the creation of customer service assistants.
AI initiatives in the country generate a return on investment of 3 times their cost, the highest figure in the region along with Chile.
59% of organizations in Colombia have implemented AI in less than 6 months, exceeding the global average of 48%.
Bogota Colombia – Artificial Intelligence (AI) is emerging as a transformative force in most business functions and in all types of organizations. These technologies are becoming the engine of efficiency, innovation and productivity. Such is its impact on companies that the decision to adopt and implement AI has transcended technology departments, becoming a priority on the agenda of boards of directors and CEOs globally.
According to a study commissioned by Microsoft to IDC, in Hispanic South America, 55% of large companies in the region have already implemented specific artificial intelligence tools in various areas of their business. As a result, the business environment has not only improved its business results and increased productivity, but has also made progress in creating new business models that involve both customers and employees.
The study consulted 320 organizations with more than 1,000 employees in Argentina, Chile, Colombia and Peru. 48% of these companies affirm that the great benefit they perceive from Artificial Intelligence (AI) is in the improvement of productivity based on operational results. This is reflected in the generation of new sources of income, savings and efficiency, as well as greater commitment to customers.
Below are the most relevant findings of the study in Colombia:
Investment in AI:
In colombia, 82% of organizations surveyed plan to increase their budget for artificial intelligence in the next 2 years, the largest percentage in the region. Additionally, 44% have already readjusted their spending in certain areas or projects, or plan to do so in the same period, with the goal of reallocating these resources to AI initiatives.
In South America, media and telecommunications companies (65%) along with government and education organizations (56%), have accelerated their adoption of artificial intelligence through budget reallocation. These sectors are putting significant focus on improving the customer experience, whether a consumer or a citizen, by using services powered by digitalization.
Investment return:
On average, AI initiatives in Colombian organizations generate a return on investment that is 3 times its costthe highest figure in the region along with Chile. This investment usually gives results in a very short term: the average time to obtain that return is 13 months, the fastest in South America. A notable 23% of organizations surveyed have managed to recover their initial investment in less than 6 months.
Implementation time:
Due to its strategic nature, the conversation about AI in the last year has changed. Companies are no longer asking if artificial intelligence can help them achieve their goals, but rather how quickly they can get there.
At a regional level, most AI project implementations are typically completed between 3 and 12 months, thanks to the prevalence of one-off and rapid adoption initiatives. In Colombia, 80% of companies achieve this process in less than 12 months, and 59% do so in less than 6 months, exceeding the global average of 48%.
Opportunities to improve implementation:
Although in Colombia there are still challenges to overcome to advance the implementation of AI, the outlook is more positive compared to the rest of the region. 40% of companies express concern about the lack of skills necessary to learn and work with this technology, a figure that is below the regional average of 46%. On the other hand, 39% of companies consider that the lack of regulation of AI represents an opportunity for improvement. Finally, the shortage of specialized personnel, such as data scientists, data engineers or AI modelers, represents a challenge for 25% of companies.
To make progress in closing these gaps, more work is needed on the rules for responsible use of AI. This involves creating and using technology under principles of equity, trust, security, privacy, inclusion, transparency and accountability.
In Colombia’s private sector, this process is already underway. 55% of organizations surveyed say they are guided by standards, policies and processes to enforce these rules. Additionally, 28% already have a governance body that oversees the adoption and responsible use of AI, higher than the global average of 21%.
“We are at an exciting time for the adoption of artificial intelligence in South America. Colombia, in particular, is standing out as one of the countries with the greatest interest in the implementation and development of this technology. Colombian companies are increasingly recognizing the advantages and strategic value that AI can bring to their organizations in terms of productivity, competitiveness and business opportunities. At Microsoft, we are committed to offering more solutions in this field, so that both people and companies in Colombia can take advantage of the benefits of AI to achieve more.“said Daniel Verswyvel, General Manager of Microsoft Colombia.
Interest in artificial intelligence in the country continues to increase, demonstrating the commitment of the Colombian business sector to technological innovation. Companies see these tools and resources as a solution that generates growth opportunities, contributing to the productivity of all sectors, competitiveness and profitability.
Despite the challenges it faces as a country, Colombia has great expectations in the field of artificial intelligence for companies and generative artificial intelligence. The business sector is fully aware of the positive revolution that these technologies can bring to their respective sectors, highlighting their commitment to technological innovation. Companies perceive these tools and resources as a solution that can generate growth opportunities, thus contributing to productivity, competitiveness and profitability.
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About Microsoft
Microsoft (Nasdaq “MSFT” @microsoft) creates AI-powered platforms and tools to deliver innovative solutions to meet the evolving needs of our customers. The technology company is committed to making AI widely available, responsibly, with a mission to empower every person and every organization on the planet to achieve more.
Tags: Colombia, AI, IDC, Artificial Intelligence, SSA
