The evolution of global economic growth is deeply linked to our ability to incorporate emerging markets into the digital ecosystem. Embracing artificial intelligence (AI) and implementing tailored operational strategies are the most effective steps in this integration, as they close gaps and unlock immense potential in these dynamic regions. By improving efficiency through AI-powered automation, businesses can effectively connect with the vast consumer bases in Africa, Asia and Latin America, regions that are home to 85% of the world’s population and nearly 90% of the segment. demographic under 30 years old.
This strategic approach not only fosters inclusive growth, but also stimulates innovation and enables millions to participate meaningfully in the global economy. The role of AI is fundamental in optimizing various aspects of business operations, from supplier management to regulatory compliance, thereby contributing to a more equitable and connected world.
Bridge the efficiency gap
Beyond infrastructure challenges, one of the biggest obstacles for businesses and consumers in emerging markets is operational inefficiency, compounded by rising fraud rates. Many global companies are limited by manual processes that hinder their ability to adapt nimbly to market demands, while also dealing with the growing threat of fraud, which can slow their growth.
Companies can address this challenge and optimize their operational efficiency by leveraging AI to automate repetitive tasks, which often include document processing and unstructured information, such as supplier onboarding, documentation verification, and customer service. Companies that implement AI tools achieve, on average, 80% more efficiency by simplifying workflows and improving data management.
Additionally, AI can play a crucial role in managing regulatory compliance. Today, AI can be used to identify complex fraud patterns that were previously very complicated or time-consuming to detect. It also allows companies to significantly reduce risk and build trust among consumers. For example, in Nigeria, the annual fraud rate increased by 112% between 2019 and 2023, while in India, online fraud attempts skyrocketed by 101% in the first five months of 2024. AI’s ability to strengthen Security and streamlining regulatory compliance allows businesses to efficiently address these challenges, while alleviating the burden on human resources and significantly decreasing the risk of costly errors.
Tailored strategies for economic growth
Emerging markets have already demonstrated their contribution to global economic growth. Between 2013 and 2023, they accounted for 66% of global GDP growth. As these economies continue to evolve, the key to unlocking their full potential lies in understanding and addressing their unique operating conditions. Providing a wide range of tailored solutions, from partnerships with local suppliers to automated and efficient tools, is a central aspect of building trust with consumers and stakeholders. It’s about finding them and providing them with the operational support necessary to participate in the global economy.
For companies looking to expand in these high-potential markets, partnering with a supplier with deep local knowledge is a must. A trusted partner not only facilitates market entry but also offers seamless integration with AI platforms, improving user experience while reducing operational complexity. This local knowledge ensures regulatory compliance, competitive pricing and foreign exchange advantages, with reduced costs and improved conversion rates.
Working at a leading company focused on bridging the payments gap between emerging markets and the rest of the world, I deal every day with the challenges and expertise needed to drive transformations. We count among our clients most of the Fortune 100 and even Fortune 500 companies, extremely sophisticated companies with technical and operational expertise. However, even these organizations, with large global teams, almost always choose to outsource their payment operations to emerging markets. This decision highlights the complexity and risk involved in navigating these regions.
Leveraging AI for inclusive growth in the global digital economy
AI is set to play a transformative role in emerging market economies, but access depends on the implementation of adapted operational strategies. For businesses, this means designing solutions that cover all operational needs, from supplier management to enterprise security automation. Additionally, the use of tools such as Smart Routing and Smart Chaining can improve operational efficiency, to build long-term loyalty and trust.
Incorporating AI into these markets is not just about technology; It’s about creating a holistic approach that addresses consumer behaviors, regulatory requirements and operational needs. The ability to deliver seamless, automated experiences is critical to taking advantage of these markets. With the right strategies and partnerships, companies can unlock access to a vast population eager to participate in the global digital economy.
Ensuring AI-powered solutions are used to address regional needs represents a commitment to creating a more equitable and connected world. This approach lays the foundation for a more prosperous and inclusive global community, where economic opportunities are universally accessible.
Head of Engineering, dLocal
Source: Ambito
