Santiago 2015 Blog: The Role of Technology in Chile's Business Climate

By
Elizabeth Gonzalez

The economy minister and a panel discussed ways to increase Chile's competitiveness and boost productivity, especially among small- and medium-sized businesses.

Speakers:

  • Luis Felipe Céspedes, Minister of Economy of Chile
  • Eduardo Gutiérrez Gómez, General Manager, IBM Chile
  • Fernando López Iervasi, Country Director, Google Chile
  • Carlos Murillo, Country Manager, Pfizer Chile S.A.
  • Fernando Larraín Aninat, Director of Development, Diego Portales University (moderator)

“Chile is now the most competitive economy in Latin America,” said Minister of Economy Luis Felipe Céspedes at the 2015 Latin American Cities Conference in Santiago. The minister cited World Economic Forum competitiveness rankings, which place Chile at number 33 among 144 countries worldwide. Still, the country needs to address several areas of its economy, particularly its small- and medium-sized businesses, which need policies to reverse low productivity rates, he said.

Innovation and technology are other areas the country needs to strengthen, according to a panel following the minister’s remarks. For example, Chilean small businesses have one of the lowest adoption rates of technology, said Google Chile’s Fernando López Iervasi. Studies show that “the companies that place technology at the heart of their business are more competitive,” he said.

On the other hand, larger corporations in the country are interested in investing significantly in research and development. “We want Chile to be a regional example, even an international one, in terms of basic research,” said Carlos Murillo of pharmaceutical giant Pfizer. Murillo said the country should work to develop its potential in biotechnology. However, he notes that it has proven difficult to have the public and private sectors work with each other.

In the meantime, IBM is focusing on a new cognitive computer that is already being used in oncological medicine, said its Chile country manager Eduardo Gutiérrez Gómez. The program, named Watson after the famous electronic trivia competitor, learns from experience and can pickup the human language. Doctors will be able to consult the program for medical diagnosis and treatments.

While some sectors of society are up-to-date with technological developments, Chileans' need to have a broader discussion on how to prepare for change, López Iervasi reminded the audience. “Perhaps what is missing is a sense of urgency,” he said. “In the past, technology was reserved for large corporations. Today, any company can access it,” he said, adding that Chilean entrepreneurs should take advantage of that.

Watch the video of Minister Céspedes' remarks:

Watch a video of the panel on business and technology in Chile: