Inflation Rates Continue to Rise in the US, MexicoBy Emilio Aristegui | Wed, 06/29/2022 - 14:14
The US continues to suffer from inflation and unemployment, as companies begin to focus more on the talent that will overtake the business world in the future. Other countries in the region, including Mexico, also face a complex situation due to the rising inflation.
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The US’s inflation rate is now sitting above 4 percent, which led the Federal Reserve (Fed) to raise interest rates, potentially leading to a recession in the North American country. The Mexican economy’s connection to the US forced the Bank of Mexico to increase its interest rate by 75 basis points.
The importance of learning and flexibility is in the spotlight, as positions that did not exist five or 10 years ago begin to arise. The world is going through challenging times that have brought a field of opportunities and risks, as new technologies continue to disrupt different industries.
“AI, Robotics, VR, Biotech, Gentech, Blockchain and now The Metaverse are just a few of the technologies that are evolving and mixing. We need to understand that what we have learned is no longer useful (or won’t be in the coming 18-24 months) We must be ready to train new skills and then retrain them,” said Ricardo Godinez, CEO, Enso Fintech.
American Express has been in the Mexican market for almost 170 years, crediting the technological disruption as a major component to its success. Now, the company’s corporate cycle has become flexible, innovative and willing to change.
“By combining our customer-centric approach with technology, we have been able to be at the forefront of supply issues, providing unprecedented levels of customer engagement,” said Santiago Fernández, President and CEO, American Express Mexico.
Studies indicate that 40 percent of employees spend at least two hours a week resolving personal finance issues, said Nima Pourshasb, CEO, Minu. Employees concerned with complex financial situations will represent a liability for companies, reducing their commitment to work.
“The development of technological advancements, such as salary-on-demand apps that are widely used in Mexico since they were introduced into the market, have provided the tools and applications required to help millions of employees solve their cash flow problems as they try to save for emergencies or make recurring payments,” said Pourshasb.