Managing Director & Founder of the Biz Latin Hub Group.
The most significant technological advancements that currently shape our society and economy have emerged from challenging times. The internet, for example — without which our daily life as we know it would be possible — emerged in light of the Cold War, after the United States Advanced Research Projects Agency (ARPA) and MIT scientists invented a method to prevent communications from being affected in the event of an attack.
According to the UN, a report from the Economic Commission for Latin America and the Caribbean found that the Covid-19 pandemic is expected to result in the loss of 8.5 million jobs in Latin America and the Caribbean. It has produced new realities through which life and business have managed to get ahead. Digital technology has proven to be the great ally of humanity, facilitating the adaptation of economies and businesses to the “new normal,” a term that is commonly overused and yet mostly still unknown.
Currently, I expect the technology sector in Latin America to grow considerably, as it appears to be a key solution for businesses to evolve with changing social and economic contexts brought about by this pandemic. Technology stands as an industry that could lead the region’s “new business normal.”
The digital revolution is a call for Latin American business resilience.
After governments in the region announced measures to counteract the contagion of the virus, companies of all sizes have reportedly started realizing the importance of digital technology for applications like e-commerce. Technology enables them to adapt to a new business ecosystem in which interacting with clients can no longer be the same.
As I expected, the industries of e-commerce, streaming services, online education and health, food delivery and technological financial services (fintech) have grown