A global leader

With Brazil’s government increasing its efforts to focus on growing the country’s standing as a hub for the emerging technologies, AIBC America’s first event for the market is perfectly timed to connect its wide-reaching network in the West with LatAm’s leading innovators, and policy makers.

An emerging innovation hub

South America, led by Brazil, is rapidly emerging as a leader in tech-focussed businesses. Investment in areas such as AI and Blockchain has allowed the region to leverage long-awaited opportunities to leapfrog toward greater levels of innovation, productivity, and socio-economic progress.

– In Oxford Insights’ AI Readiness Index 2019, Brazil was ranked 40 out of 192 countries, a sign that the South American powerhouse is moving up in the emerging tech sector.

– An AI Index report from Stanford University illuminates this shift in direction for the country’s economy – Brazil is now considered one of the top 5 countries in the world with the fastest growth in AI hiring.

2022 and beyond

– The Central Bank Digital Currency, estimates that the Digital Real project, which will work to introduce a digital cryptocurrency to Brazil, will start its first series of tests in Q1 of 2023, with a potential launch planned for late 2024.

– A June 2022 report by the Federal Court of Accounts has suggested the 2021 National AI Strategy will need to be reviewed and improved by the Ministry of Science, Technology and Innovation after noting shortcomings.

– To this end the Senate has commissioned a new regulatory framework on AI be drafted, to which an open invitation to contribute was extended to experts in the field after the creation of a Commission of Jurists.

– The Brazilian government also announced its intention to create 8 research facilities focused on AI – the labs will work in tandem with Brazil’s IOT plan – with the 4 core verticals being: smart cities, healthcare, agribusiness and manufacturing.