Tech Companies Funnel Millions to Mexico

Mexico is on the receiving end of millions in investment from US technology companies that look to augment their presence in the market. Domestically, Grupo Bimbo announced the adoption of AI to augment its recruitment and development efforts.

This week in Technology news and developments:

Mexico

Infineria and NEC to Modernize Neural Networks of Mexico and US

In a joint announcement, both companies informed of the design of the largest optical network modernization project between Mexico and the US of the last 20 years. The NEXT network is to deliver high-capacity services, paving the way for accelerated growth in the region.

Daikin Comfort Technologies to Build Manufacturing Facility in Mexico

The global leader in air-conditioning and heating systems manufacturer will build a US$230 million, 761,000 square-foot manufacturing facility in Mexico, which will be completed by the end of 2024, according to a company press release.

UFP Technologies Expands to Mexico

Medical designer and manufacturer, UFP Technologies, announced the opening of a new medical manufacturing operation in Tijuana, Mexico. The 84,000-square-foot, FDA-registered facility will feature clean room and clean space medical device manufacturing and assembly, according to a company press release

Freight Technologies Aims to Facilitate CFDI 4.0 Alignment

As supply chains transform, Freight Technologies aims to augment B2B cross-border trade between USMCA countries by automating processes. Freight Technologies' systems are fully aligned with Mexico’s new CFDI 4.0, as mandated by the tax administration service (SAT), according to a press release.

Grupo Bimbo Adopts AI to Optimize Recruitment Efforts

Through an alliance with Nawaiam, an Argentine gamification platform, Bimbo will use artificial intelligence and data science to optimize its human resource processes. The adoption of this technology will also be supporting the internal development and growth of current collaborators.

Expert Contributors

Data-Sharing for Better Financial Services

Data-sharing and open banking are redefining the future of the global finance industry, wrote José Luis López Amador, Co-CEO and Co-Founder, Finerio Connect. “Open banking is a proven model around the world that, with its recent arrival in Latin America, has shown its potential to reform the financial ecosystem through technological tools that explore the possibilities of data-sharing for the benefit of companies and end users.”

Legaltech: The Future of Law, Lawyers and Businesses

Technology and software are revamping numerous industries, including law. While some may be skeptical, in some cases “legaltech allows a more efficient and secure provision of legal services, reducing delivery times and mistakes,” wrote Yaritza Rodelo, CEO, Easylex.