Unlocking the Gen AI Opportunity in Latin America

Latin American tech companies are rapidly deploying GenAI, outpacing traditional firms.

The majority of leaders in Latin America’s tech sector agree on one thing: Gen AI is a disruptive force, poised to transform industries and drive value. At the 2024 Latam Tech Forum (LTF), a private conference connecting those driving change at the biggest Latin American (Latam) tech companies, Boston Consulting Group interviewed over 170 CEOs and C-level executives to gain insight into achievements, and challenges, related to GenAI adoption in the region. Prominent Latam tech companies are taking a markedly different approach to harnessing the potential of GenAI than leaders at traditional companies: Tech companies are adopting this emerging technology rapidly, deploying GenAI across use cases and functions, and reshaping core business functions, while those at traditional companies are taking a more strategic approach to adoption, with more clearly defined goals.

Only 21% of Latam tech companies — as opposed to 51% at traditional companies — report guiding their GenAI adoption with “an ambition (North Star), a GenAI strategy...