Weaving the digital future
In recent years, many countries have been moving towards the adoption of technologies that drive digitalisation. Mexico is not far behind. However, there are exciting challenges ahead for the country’s companies looking to make the big leap in their digital transformation.
We have a new year ahead of us and there is no doubt that digitalisation and smart data management take on an even more crucial role in the business landscape. According to Lars Lehne, CEO of Incubeta, a global agency specialising in digital marketing: “Without a proper data strategy and the ability to store, manage and analyse data, brands will start to navigate blindly.
These tools can aid competitiveness and sustainable growth in the vibrant Mexican market, so now is the ideal time to explore them.
The digital horizon: the state of Mexican digitalisation
One of the main drivers of enterprise digitalisation in Mexico is the need to optimise processes and improve operational efficiency. According to an IDC study on the state of digitalisation in Mexico in 2023, companies are targeting their initiatives to drive productivity (48%), efficiency and a better balance in customer acquisition and retention (47%), with digital product and service offerings (36%).
This has caused companies to rethink new challenges on how to continue on the path of digital transformation. One of them is the implementation of new technologies in more secure environments, considering that data and resources are increasingly dispersed.
Mexico disconnected: the challenge of adopting a data culture
Often, the barriers to achieving the desired levels of digitisation lie in technical complexity and the difficulty of implementing new technologies due to a culture resistant to change. One of the factors contributing to this resistance is an organisational culture rooted in traditional methodologies. Forty-three percent of companies continue to adopt technologies only when they feel it is necessary to implement them and 22% recognise that their organisation is frankly resistant to going digital.
This is because many companies are accustomed to established processes that have been in place for years, leading to a reluctance to new digital practices. In addition, a lack of awareness of the real benefits of digitisation also contributes to fears about these new technologies and resistance to change.
This reluctance to change and transform a company’s organisational culture can be changed by investing in training and development programmes to improve the digital literacy of its employees. Effective communication and the creation of a shared vision of the benefits of digitisation are key to implementing a data culture.
Digital minds, brilliant business: the power of AI
Another major challenge is the implementation of Artificial Intelligence. Its convergence with digitalisation is having a significant impact on decision-making and business innovation in the country. In some sectors such as finance and retail, AI is being used to improve efficiency in the supply chain, personalise the customer experience, optimise production processes and develop more effective marketing strategies. However, it is still largely unknown in many sectors, leading to a lag in data interpretation.
Additionally, it is also revolutionising efficient data management, enabling companies to derive valuable insights from large data sets, allowing them to identify business opportunities and prevent risks.
Data: the engine of mexican digitalisation
In conclusion, business digitalisation in Mexico is transforming the way companies operate and despite the progress being made, significant challenges remain. The digital divide, the lack of a data culture and the implementation of artificial intelligence are some of the challenges that the Mexican business fabric must correct in 2024 if it wants to generate real change.
