IBM points to AI trends for Chilean companies in 2024
As for generative AI, companies are open to using it, with 37% in the active implementation phase and 45% saying they are actively exploring this technology in the region.
IBM, which this year celebrates 95 years of presence in Chile, announced at the IBM AI Forum the latest report of the IBM Institute for Business Value “5 Trends for 2024” which reveals the top AI-related business trends that will define the Chilean business landscape during 2024 and how trust is the key to capitalizing on AI innovations in the country.
A recent study shows that in Latin America, including Chile, AI adoption accelerated by 67% in the last two years [1] , above the global average of 59%. As for generative AI, companies are open to using it, with 37% in the active implementation phase and 45% saying they are actively exploring this technology in the region.
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“I am very optimistic about the deployment of AI in the country. With several Chilean organizations looking for the healthiest and most assertive way to implement AI, investment is expected to continue to increase in the coming years,” says Fabrizio Carbone, General Manager and Technology Leader at IBM Chile. “But it’s not just a matter of speed. As the world becomes increasingly reliant on AI, it is essential that the results that AI delivers can be trusted and in Chile, we are moving forward on that path.”
Trust has become a key business differentiator as people and technology become more intertwined. In fact, 90% of consumers worldwide say trust is the most important deciding factor when choosing a brand. With trust as a counterweight to capitalizing on technology, these are 5 trends that will shape the business landscape in Chile in 2024.
Organizations will move from “more AI” to AI+
Business leaders understand the transformative impact generative AI can have: 75% of CEOs believe that generative AI is not just an add-on, but essential to their organization’s success. Having generative AI capabilities won’t be enough to gain a competitive advantage. To effectively integrate AI, leaders must balance its capabilities with a human-centric approach, ensuring responsible and ethical use while maximizing its potential.
People who use AI will replace those who don’t
By 2024, generative AI will impact all levels and functions of organizations. The success of AI adoption will depend on whether people willingly embrace retraining and adapt to new roles. Building trust in AI among employees will be critical, and business leaders need to take a holistic approach that recognizes that AI is more about people than technology.
Ecosystems will not only be part of the strategy, they will be the strategy
Open innovation is linked to revenue growth. In fact, 69% of executives say their organization has seen stronger financial results thanks to participation in ecosystems. It’s clear why trusted ecosystems will become an essential competitive advantage in 2024. That’s why it’s more important than ever for business leaders to evaluate potential partners based on their ability to maintain a strong, trust-based relationship.
The conversation about data will move from IT to the C-Suite
Business leaders need to trust that data is secure. However, more than half of CEOs globally (57%) say data security is an obstacle to generative AI adoption. This means that reliable technology cannot be just an IT concern, but a core value that must be integrated throughout the organization. By prioritizing trust, cyber risk capabilities can be improved and a clear path of value can be created for the organization.
Operating models will need to be flexible so as not to break down
As business leaders prepare for a future where change is the constant, it is becoming increasingly apparent that they need reliable operating models that are flexible to adapt to a changing world. The world’s top CEOs have already moved in this direction, but only 6% say their actions are fully integrated across the enterprise, linked to outcomes that are central to strategy and aligned with ecosystems.
“The potential of this technology is immense, AI represents an opportunity for Chilean companies to keep pace with an increasingly complex and dynamic world. If organizations reliably insert AI into their business processes, they will be able to leverage the multiple benefits of AI to stay ahead in the market,” concluded Fabrizio Carbone.