(LATAM) The fifth edition of the CDO LATAM SUMMIT took place on September 20 and 21, gathering 151 leaders in the field of data and analytics in person. Another 1,282 participants connected virtually and witnessed the keynotes and panels through live streaming.

The 2023 edition was hosted in the multicultural environment of Mexico City, with the ITAM’s campus being the welcoming home for people from different countries. This event, which has been gathering Latin American data and analytics leaders since 2019, changes its venue every year to make this experience more accessible and diverse.

“This decision makes everything harder for us, from finding the right venue to managing all the logistics from abroad, but it follows a strong belief that we all share: the CDO LATAM SUMMIT belongs to the Latin American Data and Analytics community, so we must do everything on our hands to reach them,” explained Iván Herrero, President of CDO LATAM.

“The focus on quality (the topics and speakers are carefully curated by a committee of CDOs from all over the region) and the fact that it is free and you get an event truly unique of its kind,” he added.

Thirty-three thought leaders from Mexico, Peru, Argentina, Spain, Canada, Great Britain, and the U.S. inspired the audience and guided the conversation through topics that span from technology to strategy, from risks to opportunities, and from excitement to deep reflection.

Marcel Bonardel, Account Executive Enterprise at Snowflake, shared his view on the features a modern data architecture must have to support the evolving needs of the business in a competitive landscape, where data volume will keep increasing exponentially, including ways for direct data monetization.

With the accelerated adoption of AI, “…understanding the origin, quality, sensitivity, and lifecycle of all data we use…,” will become paramount, as Cindy Maike, VP of Business and Product Solutions at Cloudera, stated. She also added that, in the absence of a leader in charge of data governance, CFOs should step forward, as the risks associated with data can quickly flip it from an asset into a liability.

Federico Hirtz, General Manager at NotCo Mexico, and Rodrigo Centeno, President and Managing Director at Nissan Mexico, shared inspiring and innovative success cases of how AI is revolutionizing sectors as different and complex such as the food and automotive industries, with sustainability and positive social impact as the final goal.

The story about how NotCo, the Chilean food-tech unicorn is developing plant-based substitutes for products like milk, chicken, or meat with an AI algorithm that tries to match their molecular structure to replicate their flavor, texture, and color was eye-opening.

There was also time to reflect on the evolution of the role of the CDO and the challenges faced when trying to create a data-driven culture. A provocative idea that sparked discussions during the summit was brought to the conversation by Sandro Denegri, CDO at Mi Banco. He said, “The role of the CDO as we know it today will eventually extinguish, it is on us to choose if the reason for it is our success in putting data in the heart and soul of our companies to the extent that they don’t need us anymore, or for failing to do so.”

Samir Sharma, CEO at Datazuum and host of The Data Strategy Show, highlighted the importance of deploying an operating model that connects the strategy with the execution to make the Analytics Transformation scalable and sustainable.

In a moment when AI is getting all the attention, it is more important than ever not to miss the point of being sure that KPIs are well-defined and accurately built to represent reality in the context of the company and that they evolve together with the strategic goals of the business, especially in fast-growing startups. María Pía Lindley, former Country Manager at Didi Food Mexico, clearly illustrated this point, taking the audience along her learning journey.

Alejandro Padilla, Chief Economist and Managing Director of Research, and Alejandro Cervantes, Executive Director of Quantitative Research, at Grupo Financiero Banorte, showcased how they have managed to develop a deep understanding of economic trends to the extent of being able to anticipate changes in the monetary policy with impressive accuracy, by using sophisticated ML techniques, including video and text analysis to blend verbal and non-verbal communication.

Generative AI could not be missing from the conversation, so David Ruiz, Analytics, Data, and Al/MI Lead at Google Mexico, introduced the risks and opportunities specific to this technology, followed by a discussion panel about the challenges of integrating Al at scale company-wide.

The implications of the accelerated evolution of AI may have in our society, from education to the threats it can pose to democracy itself, were also covered from diverse points of view, including politicians, lawyers, journalists, and education experts.

The sense of community was felt during the whole summit, catalyzed by round tables and an all-hands dinner which served as an unparalleled networking space while enjoying the tasteful Mexican gastronomy.

The Congress was held with the support of the ITAM and sponsored by Snowflake, Google Cloud, Cloudera, Accéder, Deloitte, Keyrus, COREBI Data & Analytics, EY, Udemy Business, CDO Magazine, and La French Tech México.

It was inaugurated by the current president of CDO LATAM, Iván Herrero, CDO of Grupo Intercorp – Perú, and Fernando Esponda, Director of the Academic Division of Computer Sciences of ITAM. CDO LATAM deeply thanks the sponsors and partners who have contributed to making this edition of the CDO LATAM SUMMIT a reality.

President of CDO LATAM Iván Herrero, CDO of Grupo Intercorp- Perú holds a position on the CDO Magazine Global Editorial Board and serves as CDO Magazine’s Country Ambassador for Peru, showcasing his valuable contributions to the field of data.