World Bank points to public sector role in AI era

Challenges for integrating artificial intelligence in Latin America

The public sector in Latin American countries needs to establish fundamental bases of infrastructure, connectivity, energy, and water so that the region can reap the economic benefits of artificial intelligence. This assessment was pointed out by Alfonso García Mora, Vice President for Latin America and the Caribbean at the International Finance Corporation (IFC), a branch of the World Bank, during the annual meetings of the International Monetary Fund and the World Bank in Bangkok, in an interview originally published by the newspaper ABC Color.

Main points on investments and infrastructure

• The public sector must focus on developing basic conditions such as infrastructure, conectividad, energia e água to enable investments in the area.
• The International Monetary Fund revised Latin America and the Caribbean's growth projections to 2.3% this year and 2.5% in 2027.
• The strategy for the region involves applying artificial intelligence in specific sectors to boost productivity.
• Infrastructure and energy stand out among the most attractive sectors for capturing private foreign capital.

For those who undertake or invest in the region, the alignment between government infrastructure guidelines and technological advancement signals the economic development priorities that directly impact the business environment and local competitiveness in the coming years.

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