The Economic Benefits of Cloud Computing in Latin America and the Caribbean

Keynote Speaker:

• Cameron Luther, Economic Consultant, FTI Consulting 

Speakers:

• Omar Paganini, Minister of Industry, Energy, and Mining, Government of Uruguay
• Jennifer Prescott, Director for Latin America Public Policy, International Trade and Tax Policy, Amazon Web Services
• Venkat Raghavan Gopalan, Chief Digital Officer and Chief Technology Officer, Belcorp 
• Eric Farnsworth, Vice President, Americas Society/Council of the Americas (moderator)

Looking at a presentation of the report Economic Impact of Cloud Adoption in Six Latin American Countries, a panel of experts convened at the Council of the Americas in Washington DC to discuss the impact of cloud computing on the economies of Latin America and the Caribbean. The study, conducted by FTI Consulting and presented by FTI's Cameron Luther, assessed the economic and environmental benefits of adopting cloud computing from the present day through 2038 in six countries: Argentina, Chile, Colombia, Mexico, Peru, and Uruguay.

Omar Paganini, Uruguay's minister of industry, energy, and mining, highlighted the pivotal role of cloud services in providing government services that are efficient and reliable. He emphasized the value of public-private partnerships in cultivating technological endeavors, convinced that this approach is well-positioned to address the talent deficit in the region. Additionally, he shed light on the environmentally conscious and renewable character of initiatives such as cloud computing, emphasizing their sustainability.

Venkat Raghavan Gopalan, of Belcorp, emphasized the critical role of implementing cloud services as a tool in developing economies, saying it can bolster national cybersecurity, foster an environment conducive to economic growth, and facilitate job creation.

Jennifer Prescott, of Amazon Web Services, underscored the significance of cloud technology in modernizing the financial sector in countries like Colombia and Brazil. She also expounded upon its role in promoting financial inclusion across the region and creating an ecosystem that encourages investment and workforce development. For Prescott, cloud computing is the inception of the fintech revolution.