According to the latest report by IMARC Group, titled “Latin America Artificial Intelligence Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The Latin America artificial intelligence market is expected to exhibit a CAGR of XX% during 2022-2027.
Artificial intelligence (AI) relies on computer-enhanced learning, reasoning, and insights to achieve a specific goal. It enhances the productivity of large enterprises by executing data-heavy and detail-oriented tasks and delivering consistent results efficiently. It is utilized in the healthcare industry to perform complicated surgical procedures, carry out administrative activities and customized treatments for patients, and provide accurate dosages of drugs. It aids in operating self-driving cars by examining external data and guiding them to avoid accidents. Apart from this, AI is used in the financial industry to detect flag activities by assisting the fraud department.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The increasing utilization of AI in businesses to achieve operational efficiency in data transferring, cross-referencing, and file updates represents one of the key factors driving the market in Latin America. Besides this, the rising integration of advanced features, such as voice recognition, predictive analysis, and translation in business applications and cloud platforms, is contributing to the growth of the market in the region. In addition, the growing utilization of AI in marketing, sales, and logistics for efficient customer targeting and monitoring is positively influencing the market. Furthermore, the application of AI in the education industry for improving institution services, providing quality education and supporting student learning is expected to bolster the growth of the market in Latin America.
Breakup by Type:
Narrow/Weak Artificial Intelligence
General/Strong Artificial Intelligence
Breakup by Offering:
Hardware
Software
Services
Breakup by Technology:
Machine Learning
Natural Language Processing
Context-Aware Computing
Computer Vision
Others
Breakup by System:
Intelligence Systems
Decision Support Processing
Hybrid Systems
Fuzzy Systems
Breakup by End-Use Industry:
Healthcare
Manufacturing
Automotive
Agriculture
Retail
Security
Human Resources
Marketing
Financial Services
Transportation and Logistics
Others
Breakup by Country:
Brazil
Mexico
Argentina
Columbia
Chile
Peru
Others
Competitive Landscape:
The report has also analysed the competitive landscape of the market along with the profiles of the key players.
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic
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