Mexico's AI Boom: A Financial Revolution in the Making

Mexico is quickly emerging as a global leader in artificial intelligence. Recent studies highlight significant progress in AI adoption across various sectors, with the financial industry leading the way. The QS World Future Skills Index 2025 reports an incredible 965% increase in AI utilization among 362 Mexican companies, positioning the country among the Top 10 worldwide. This growth is supported by substantial investments in AI technologies, amounting to US$500 million between 2022 and 2023. Such financial commitment reflects the increasing recognition of AI's potential to transform industries and drive economic growth.

The current AI boom is a result of strategic efforts. Mexico has developed a vibrant ecosystem that includes forward-thinking businesses, innovative startups, and academic institutions leading in AI research and talent development. The government also plays a key role in promoting responsible AI development through initiatives such as the National AI Strategy. This collaborative approach involving the public and private sectors is vital for establishing a flourishing AI ecosystem that benefits all stakeholders.

For example, initiatives aimed at promoting AI education and research are helping to cultivate a skilled workforce, while regulatory frameworks are being developed to ensure AI's ethical and responsible use. This multifaceted approach is creating fertile ground for AI innovation and adoption.

Within the financial sector, AI is proving to be a game-changer. Financial institutions leverage AI to automate tasks like loan application processing and fraud detection, boosting efficiency and reducing costs. For instance, banks use AI algorithms to assess creditworthiness, accelerate loan approvals, and streamline the customer experience. This benefits the banks and improves customer satisfaction by providing faster and more convenient services.

AI-powered data analysis is enabling personalized customer experiences and improved decision-making. By analyzing vast amounts of customer data, financial institutions can gain valuable insights into individual needs and preferences, tailoring products and services accordingly. This level of personalization can lead to increased customer loyalty and engagement. For example, AI can identify customers likely to be interested in a particular financial product, allowing banks to proactively offer personalized recommendations.

Chatbots and virtual assistants enhance customer service by providing instant support and information. These AI-powered tools can handle many customer inquiries, freeing human agents to focus on more complex issues. This improves customer satisfaction by quickly and efficiently responding to their questions and concerns. Moreover, chatbots and virtual assistants are available 24/7, providing round-the-clock support to customers.

Additionally, AI enhances security by detecting and preventing fraudulent transactions in real time. AI algorithms can analyze millions of transactions to identify suspicious patterns, alert banks to potential fraud, and protect customers and financial institutions. This capability is essential in today's digital age, where financial fraud is a rising concern. By leveraging AI, financial institutions can stay one step ahead of fraudsters and ensure the safety of their customers' assets.

The benefits of AI in finance go beyond just increased efficiency and security. AI can also play a vital role in promoting financial inclusion. By utilizing AI-powered solutions, financial institutions can reach underserved populations and provide them with access to credit and other financial services that were previously out of reach. This can have a significant positive impact on economic development and social well-being. For instance, AI can evaluate the creditworthiness of individuals who do not have traditional credit histories, allowing them to secure loans and work toward a better financial future.

Recent developments, such as Evertec's acquisition of Grandata — a company specializing in AI applied to credit risk management for unbanked populations — underscore Mexico's growing commitment to AI innovation. This strategic acquisition will enable Evertec to enhance its AI capabilities and provide more advanced solutions to its clients, thereby accelerating the adoption of AI in the financial sector. Grandata's experience in developing AI technologies to reinvent the data ecosystem and offer high-quality credit information to fintechs, banks, and businesses while preserving consumer privacy will allow Evertec to strengthen its offering to boost our clients' growth in an agile and efficient manner while also promoting financial inclusion in the country.

At Evertec, we are witnessing firsthand the transformative power of AI in Mexico's financial landscape. We see a strong focus on process automation and personalized customer experiences. AI will be more significant in driving financial inclusion and developing innovative solutions to address future challenges. For example, AI can create personalized financial education programs, helping individuals make informed financial decisions. AI can also be used to develop new financial products and services that cater to the unique needs of underserved populations.

Mexico's journey in AI is promising, but significant challenges persist. To ensure continued progress, it is crucial to bridge the talent gap, invest in infrastructure, and establish a strong ethical and regulatory framework.

To address the talent gap, investing in education and training programs that equip individuals with the skills necessary to thrive in the AI era is essential. Building a robust infrastructure, including access to high-speed internet and computing resources, is critical to support AI development and adoption.

Finally, establishing clear ethical guidelines and regulations for AI development and usage is vital to ensure that AI benefits society.

Despite these challenges, the future of AI in Mexico looks promising. The country could be a leader in AI innovation, which could drive economic growth and social progress. By embracing AI and effectively addressing the associated challenges, Mexico can unlock a future filled with opportunities.