Mexico City.- In Mexico there are 362 companies that develop artificial intelligence (AI), which have invested 500 million dollars between 2022 and 2023, revealed a study by Endeavor.
The growth rate of these companies in the country was 965 percent between 2018 and 2024, making Mexico the leader in the expansion rate in Latin America.
The 362 companies in Mexico develop technologies such as machine learning and natural language processing. Mexico City leads with 53 percent of these AI companies, followed by Jalisco and Nuevo León.
“The country is consolidating its position as a centre of AI innovation, driven by recent exponential growth,” the study said.
However, there are risks and challenges, such as a lack of trained personnel, cybersecurity and data privacy, as well as ethical and social implications of its development and adoption. In addition, few companies are adopting this technology. “There are three types of companies: those that develop new AI tools are the minority, it is a small group, reduced but with a high appetite for investors; on the other hand, there is an ecosystem of entrepreneurship and technologies, which adopt technology and AI to improve their processes; and a group that is not adopting it in any way and it is the largest number of companies,” said Vincent Speranza, general director of Mexico and regional advisor for Latin America at Endeavor, in an interview. He commented that there are companies that are very successful and question why they have to adopt this technology if they are doing well. There are others that have problems and little flow, and see AI as a risky bet. Others do not do it due to lack of knowledge. “This is a ‘high-speed train’, and whoever is not getting on within a reasonable time, will find it more difficult to get on later. “Any company that refuses to adopt AI to improve its processes, I think, is clearly in danger of its survival in the market, because there is someone next to them who is doing it and is becoming more efficient and more precise,” said Speranza. Regarding the issue of employability, he said that any profile can improve their performance with the use of AI, but they must be trained for it. “Any employee can be better with the use of AI. The accountant or the lawyer is not in danger, the one who is not adopting technology to be better is in danger. The one who does not know how to use it, does not understand it, will be displaced,” he stressed.
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