Cesar Vence
Executive Director, U.S.-Colombia Business Council
Senior Director, Americas, U.S. Chamber of Commerce
Published
August 07, 2024
Governments throughout Latin America and the Caribbean are emphasizing digital transformation in their national development plans and are proposing ways to regulate and leverage Artificial Intelligence (AI). As the digital revolution unfolds in the region, the challenge is to balance innovation with safety and trust.
This transformation involves governments, the private sector, and civil society in crafting digital policies that serve the community's needs effectively while also encouraging research and development.
The U.S. Chamber of Commerce is participating in the 2024 Latin America and Caribbean Ministerial AI Summit, hosted by Colombia’s Ministry of Information, Technologies and Communications (MinTIC), on August 8-9 in Cartagena, Colombia. The Summit offers a unique platform for regional leaders to collaborate with the private sector and develop policies and regulations that harness the potential of AI.
Strategies for a Competitive Digital Economy
The region must adopt best practices and insights from successful global digital transformations to help citizens seize the benefits of these new tools. Establishing a digital ecosystem that promotes innovation while ensuring trust is crucial for attracting high-quality investment and nurturing local industries. Policymakers face the challenge of crafting regulations that address safety, data privacy, cybersecurity, and interoperability without sacrificing economic growth, job creation, and sustainable development.
The Chamber is committed to promoting AI as a tool for growth and sustainable development. It advocates for risk-based regulatory strategies that encourage research and investment while ensuring safe and equitable access to digital advancements.
Guiding Principles for Effective AI Governance
As we approach the Summit, we urge regional governments to consider these principles for effective AI governance:
- Foster trust through transparent collaboration among all stakeholders.
- Streamline regulations to avoid legal fragmentation and ensure clarity.
- Develop adaptable legal frameworks that are risk-based and context-specific to AI applications.
- Boost AI research and development through partnerships and flexible governance.
- Train professionals in AI development and management and attract global talent.
- Enhance the accessibility and standardization of government data to support AI development while protecting cybersecurity and privacy.
- Protect data to advance AI and safeguard consumer privacy.
- Refrain from mandating access to proprietary technology and source code to protect intellectual property.
- Support international norms that recognize private sector leadership and promote consensus-based standards.
- Enhance global coordination on AI governance to share best practices and minimize regulatory discrepancies.
These principles aim to guide the creation of a digital environment that not only fosters innovation but also ensures safety and trust across Latin America and the Caribbean. The Chamber looks forward to collaborating with regional governments and private sector leaders to support and advance the region's digital transformation.
About the authors
Cesar Vence
Cesar A. Vence is a Senior Director for the Americas at the U.S. Chamber of Commerce and serves as Executive Director of the U.S.-Colombia Business Council (USCBC).
Abel Torres
Abel Torres serves as Executive Director in the Center for Global Regulatory Cooperation (GRC) at the U.S. Chamber of Commerce.
