FEATURE: LATAM AI MARKET GROWTH
Latin America’ s AI market set to hit US $ 30.20 billion by 2033
Latin America’ s AI market is forecast to surge from US $ 4.71 billion in 2024 to US $ 30.20 billion by 2033, reflecting a projected 22.9 % compound annual growth rate driven by accelerating Digital Transformation, public – private investment and wider adoption of AI technologies across key industries.
Latin America is emerging as one of the world’ s most dynamic regions for AI development, propelled by rapid Digital Transformation, growing public-private partnerships and investments from both regional governments and global technology leaders. has intensified over the past five years. Industries such as finance, healthcare, retail, agriculture and manufacturing are integrating machine learning( ML), natural language processing( NLP), computer vision and predictive analytics to optimise operations, develop new services and enhance customer engagement.
According to the latest market analysis from IMARC Group, the Latin America AI market – valued at US $ 4.71 billion in 2024 – is projected to surge to US $ 30.20 billion by 2033, reflecting a powerful 22.9 % CAGR during the 2025 – 2033 forecast period.
While global AI adoption accelerates across nearly every industry, Latin America stands out for its unique blend of innovation, necessity and cross-sector modernization. With major economies like Brazil, Mexico, Argentina and Chile pushing national AI strategies and digital infrastructure investments, the region is transitioning from early adopters to active innovators.
A region undergoing rapid Digital Transformation
AI adoption in Latin America is closely tied to the region’ s broader Digital Transformation wave, which
Financial institutions use AI-driven fraud detection and risk modeling. Healthcare providers apply AI for diagnostics and patient management. Manufacturers deploy robotics and intelligent systems for automation and quality control. These applications have moved beyond pilot tests, becoming critical to competitiveness in markets that are increasingly global in scope.
Cloud computing plays a central role in democratising access to AI. Thanks to scalable AI platforms and pay-as-you-go cloud models, even small and midsized businesses across Latin America can access high-level AI capabilities previously limited to large enterprises. Key global companies – IBM, Microsoft, Google and Amazon Web Services among them – now offer cloud-based AI solutions tailored to regional demands, including multilingual NLP tools and industry-specific applications. www. intelligentcio. com INTELLIGENTCIO LATAM 35