Artificial Intelligence (AI) is making headlines worldwide. It is heralded both as an economic salvation and as a precursor to social disintegration. But there is a lack of clear assessments of the real value that artificial intelligence can create, as well as the challenges that must be addressed to ensure society benefits from this inevitable disruptive impact, rather than suffers from it. That's what we're trying to achieve for South America.
The region urgently needs a sustainable solution to its low levels of productivity and economic growth. Fortunately, AI promises to transform the basis of economic growth across it.
Accenture analyzed five economies in South America, along with several other developed and emerging countries around the world, to understand the potential impact of artificial intelligence. We found that it can increase annual growth rates in South America by up to one percentage point by 2035.
Artificial Intelligence is a hybrid of capital and labor. As such, it has the potential to expand and go beyond the current capacity of capital and labor, opening up new sources of economic growth. Our research highlights significant value creation opportunities.
Prepare the next generation for a future with artificial intelligence—integrate human intelligence and artificial intelligence so that they have a successful coexistence and reinforce people's role as engines of growth.
Strengthen artificial intelligence ecosystems in South America—ensure that relationships between startups, large companies, academic researchers, government agencies and other stakeholders in the region and beyond are regular and intense.
Encourage regulation powered by artificial intelligence—update relevant legislation through laws that can be adapted and improved “automatically” to eliminate the gap between the speed of technological evolution and the regulatory response to it.
Advocate a code of ethics for artificial intelligence—ethical debates need to be complemented by more tangible standards and best practices in the development of intelligent machines.
Minimize risks to social cohesion—South American societies are already among the most unequal in the world. Policymakers need to take preventive action to limit the risks that artificial intelligence could pose to the most vulnerable sectors and regions.