Ivaldo Pereira, General Manager of TOTVS Andina, tells us what the top five technology trends will be for Colombian companies in 2024.
In the changing world of technology, keeping up with the latest trends is key to success. This not only helps companies be more efficient but also allows them to capitalize on new opportunities.
The economic and IT market trends for the coming year are marked by investments from new sectors favoring innovations such as AI, cloud, data analysis, cybersecurity, in addition to ESG.
The Banking and Financial Entities Association of Colombia forecasts a real economic growth of 2% in 2024, driven by a global economic recovery, an increase in foreign investment and the development of new economic sectors. For example, in the first half of 2023 alone, there was the largest amount of foreign direct investment (FDI) in the country’s history. According to the Balance of Payments records of the Bank of the Republic, the figure reached US$7.519 billion, representing 5.8% of the GDP in the period.
And for 2024, it is expected that FDI will continue to grow, but driven by non-traditional sectors, such as the manufacturing industry, trade, technology and agriculture. With this, the projection is that this growth will represent 80.2% of the external deficit according to the Medium-Term Fiscal Framework recently presented by the government.
Colombia is developing new economic sectors, such as technology, the digital economy and tourism, and these sectors are generating new jobs. E-commerce is also expanding. The digital economy is being promoted by the increasing adoption of digital technologies. And finally, the services sector is creating new jobs in the fields of technology, information and communication.
Technology will continue to be a driver of growth for the Colombian economy. The country is experiencing rapid adoption of digital technologies, such as AI and cloud. These technologies are transforming a range of industries. In terms of technological trends for the coming year, I think the top five will be:
1. The cloud is a technology that is already present in many Colombian companies, but its adoption will continue to grow. This technology offers advantages, such as flexibility, scalability and cost reduction, which make it attractive to companies.
2. AI is another trend that is gaining ground in Colombia. AI can be used to automate tasks, improve decision-making, and create new products and services.
3. Data analysis is an increasingly important tool for companies. Data analysis can be used to better understand customers, identify trends and improve efficiency.
4. Cybersecurity is an increasingly major concern for companies. Cyberattacks are more frequent and sophisticated, so companies need to invest in cybersecurity to protect data and systems.
5. The trend of sustainable technology is a reality that is becoming increasingly strong in companies directly related to ESG, whether through renewable energy, sustainable mobility or energy efficiency. The country is committed to sustainable development and technology can play an important role.
The Colombian market is at a time of change, driven by technology and sustainability. This convergence of trends opens up new opportunities for innovation, which can help to improve the efficiency and transparency of the different sectors of the country, aligned with the expectations of society and the global market. It is important to be prepared to take advantage of these opportunities.
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