Continued supply chain disruptions, inflation and rising interest rates are likely to reduce liquidity, likely forcing the market to choose winners and losers. Meanwhile, market demand and tech talent scarcity has accelerated automation considerations.
In international news, the expected value of the Metaverse balloons to US$5 Trillion.
This week in Technology news and developments:
To thwart this economic stagnation, Minister of Foreign Relations Marcelo Ebrard announced ambitious plans to support the synergy between public and private sectors to foment Mexico’s international competitiveness.
Latin America was one of the fastest-growing venture capital destinations, growing three times over in 2021. However, ballooning interest rates and compounding macroeconomic conditions foreshadow an economic downturn that could potentially wipe out many startups in 2H22.
The digital transformation changed the significance of automation and its applications, quickly morphing it from a buzzword to modern necessity of the digital-first economy that emerged from the COVID-19 pandemic, said Diego Garza, Channel Scale and Partners Director, Intel Mexico.
“These past two years are proof that technology can and is evolving at a torrid pace, and, more often than not, these developments translate to considerable improvements in people’s lives, from making their day-to-day activities easier to enhancing the complex supply chains that we ultimately all depend on,” said Garza.
The automation of processes offers companies the ability to reach new levels of productivity and guarantee uninterrupted production lines, but companies are far off from being fully automated, said Fabiola Reveron, CEO, Rigel Technologies. “Some tasks will never be replaced by a robot, such as those that require creative thinking or decision-making,” said Reveron.
“Quality, accessible education is the only way we can tackle problems of inequality. We want to remove barriers to education to enable people to pursue better careers and gain higher incomes,” said Luz Borchardt, Co-Founder, Henry.
“Our company mission is driven by an ambition to repurpose existing and capable talent so they are able to pivot and grow in a career that will make them competitive in an incessantly evolving digital ecosystem,” said Pablo Fajer, Founder, Codifin.
A fully operational Metaverse is years away, but the remunerative promise of a US$5 trillion market has fueled analysis and investments from business leaders who aim to position themselves for success, according to a report by McKinsey & Company.