AI Opens New Opportunities in Mexico

Mexico's internet usage sees a 9.3% year-on-year increase, reaching 96.87 million users, or 80.8% of the population aged 6 and older. Buk integrates Chat GPT 4 to its platform for improved people management, while Google expands its Vertex AI portfolio to facilitate generative AI development.

Meanwhile, industry leaders consider how Mexican companies can prepare to seize incoming nearshoring opportunities, technology applications in law and the lost revenue from poor internal data analysis.

This week in Tech news and developments:

Mexico

Mexico's Sees Increased Internet Usage as it Embraces Tech

In 2023, Mexico experienced a remarkable year-on-year increase of 9.3% in the number of internet users, reaching a total of 96.87 million. This figure represents approximately 80.8% of the population aged 6 years and older, as unveiled by a comprehensive report conducted by Mexico's Internet Association (AIMX). This substantial growth trend showcases Mexico's rapid adoption of digital connectivity, reflecting the nation's embrace of technological advancements and their profound impact on Mexican society.

Industry Developments

Buk Integrates Chat GPT 4: The Next Stage of People Management

The integration of Chat GPT 4 into Buk's platform, resulting in the creation of Buk Copilot, marks a significant advancement in the company's mission to automate inefficient manual processes. By leveraging the power of Chat GPT 4, Buk aims to enhance data analysis capabilities in work environments, ultimately leading to improved people management.

Google to Facilitate Development of Generative AI

Google has recently unveiled a significant expansion to its Vertex AI portfolio by introducing three new foundation models. Through this move, the company aims to provide developers and data scientists with enhanced capabilities to build generative AI applications.

Executive Perspective

Will Mexico Grab Its Nearshoring, AI and ESG Opportunities?

Nearshoring is seen as a significant opportunity for Mexico's sustainable growth, fostering job creation and skill development, writes Hugo Hernandez-Ojeda Alvarez, Partner, Labor Employment and ESG, Hogan Lovells Mexico.

Technology as an Ally for the Lawyer of the Future

The legal profession faces increasing competition and the impact of new technologies and business models, making it crucial for lawyers to adapt their approach, writes Mariano Werner, CEO, Lemontech. “There is no proven recipe, we are still in the stage of a lot of trial and error. But as long as the focus is on improving the customer experience and becoming more efficient, the lessons we learn from even our mistakes can be very valuable.”

The US$144 Billion Opportunity for Mexican Retailers

Mexican retailers are leaving money on the table, roughly MX$2.6 trillion (US$144 billion) when the function or search box of their online sites does not show the products that their consumers want to see, shares Julio Velazquez, Managing Director Mexico, Google Cloud Mexico. This is a missed opportunity that can be easily mitigated through “modern internal data analysis” to improve “operational efficiency and identifying discrepancies in processes.”