Recently, I was honored to be invited to participate in the Startup Connect event, which took place during the Summit organized by Fundación País Digital, representing Pharu Analytics. During the second day’s conversation, our partner Alexis Montecinos, explained in detail how our company assists organizations in their processes of developing analytical capabilities, in order to facilitate data-driven decision making. A few days before, we had a valuable conversation with Roberto Rigobon, renowned economist and MIT professor, in which we discussed in depth the usefulness of data for the progress of our societies.

In both instances, the importance of asking a clear and precise question as a starting point for any analysis was highlighted. Moreover, a recent study published by the academic journal “Journal of Big Data Analytics” highlights the importance of effectively implementing advanced data analysis techniques to obtain meaningful and actionable information. The study emphasizes the need for a strategic approach to the collection and analysis of large volumes of data in order to translate them into informed business decisions and sustainable competitive advantages.

Prominent leaders in the field of analytics and artificial intelligence have reinforced the idea that the value of data lies not simply in its accumulation, but in the clarity of the questions we ask and the purpose we seek to fulfill. In the current context of Latin America, where the implementation of cutting-edge technologies such as artificial intelligence continues to expand, it is crucial not to lose sight of the importance of strategic direction and the clear definition of objectives.

In the midst of this burgeoning innovation ecosystem, it is critical that companies and organizations commit not only to the adoption of cutting-edge technologies, but also to a deep understanding of how these technologies can significantly impact society and the country’s sustainable development.

I invite you to reflect on the transformative role that artificial intelligence plays in the future of our region. How can we ensure that the design and implementation of these technologies are at the service of value generation, from the broad sense of the word: economic, ethical and social. How can we maximize the potential of data to address our society’s most pressing challenges and foster inclusive and sustainable growth?

Only through deep thinking and clear strategic guidance can we ensure that the data revolution and artificial intelligence in Latin America have a truly meaningful and positive impact on our collective future. Ultimately, the path to progress lies not only in the adoption of technology, but in the ability to use it as a tool for the common good and the integral development of our society.

Author: Alejandro Inzunza for América Economía