Key Highlights From the CDO LATAM Summit 2024

(LATAM) The sixth edition of the CDO LATAM SUMMIT recently took place in Lima, Peru, continuing its tradition of gathering the most prominent leaders in the field of Data and Analytics across Latin America. With 245 attendees in person — an impressive 62% increase from last year — and 1,385 people joining via live-streaming (doubling the mark of 2022), this year’s event once again underscored its pivotal role in shaping the region’s data-driven future.

Featuring Randy Bean as keynote speaker, the occasion gathered on stage a diverse set of 34 thought leaders from Mexico, Peru, Panama, Brazil, Chile, Uruguay, Colombia, Ukraine, Spain, and the U.S. Packed in two full days, the conversation covered different topics, ranging from establishing the vision at the board of directors to the complexities of infusing data in decision processes.

There was also space to debate how GenAI is impacting the efforts around data governance and the profound impacts the technology could have in society, particularly in sectors like healthcare. Due to its importance in the Peruvian economy, there was also a dedicated track on how data science and AI can be applied across the value chain of the mining industry, with industry experts such as Patricio Pérez (Associate Partner – AI & Data – at EY), Carlos Calderón (CEO at Vixora), Martin Grados (Head of Data at Minsur S.A.), and Marleny Barrueta (Senior Leader Data Governance & Advanced Analytics at Antamina).

Alyona Richardson (Senior Business Value Engineer at Snowflake) captured the essence of the summit’s discussions by highlighting that success in data is “more about psychology than about technology,” stressing the human elements in fostering a data-driven culture. This point was later emphasized by Sandro Denegri (Head of Data, Analytics & CRM at Mibanco), reflecting on the almost impossible endeavor of deploying a data-based decision culture in a human, blissful environment.

Asked about his expectations from the CDO role, Edmundo Yañez (CEO at Farmacias Peruanas, the largest retailer in Peru) emphasized that CDOs must focus on building trust in data across the organization: “CDOs should focus on making it easy for business people to trust the company’s data, develop capabilities across the organization and spark a culture that brings agreement across the board that data can generate competitive advantages.” 

The urgency of upskilling the workforce in data was another major theme. Álvaro Merino-Reyna, Board Member of several Peruvian companies, reinforced this notion, stating that “every company must upskill its employees, starting from the top leadership team, in some basic knowledge about data.” Lieneke Schol, Board Member and former Minister in the Peruvian Government, extended this idea by comparing data literacy to speaking English: a skill that has evolved from a differentiator to a must-have for every professional.

The conversation turned very practical in the hands of Maru Leguizamon (Chief Data & Digital Analytics Officer at Interbank), who shared how the function of Data and Analytics, its capabilities, and goals had evolved during the last 7 years at one of Peruvian largest banks.

After presenting data from his annual survey, Randy Bean (keynote speaker and bestselling author of Fail Fast, Learn Faster) engaged in a conversation with Ivan Herrero (Chief Data Officer at Intercorp) about the evolving role of the CDO and how to navigate the waves brought by the emergence of GenAI.

The ethical and security considerations surrounding AI were also front and center. Eynar Espinoza (Solutions Engineer Director at Cloudera) guided the audience through the fast-changing regulations, while Pablo Junco (Executive Director, Data & AI at Microsoft) warned that while the potential of AI is enormous, the risks are equally significant if proper frameworks aren’t established.

Santiago Restrepo (Data & Strategy Director at Puntos Colombia), Tito Neira (Chief Data Strategy Officer at ADL Digital Lab), and Javier Rengifo (PhD candidate in Managing Technological Innovation) shared frameworks to connect the data, analytics, and AI strategy to the business strategy. “Aligning the data strategy with business goals is just the first step. The data strategy should unlock new ways of bringing value to the business and not just improve current processes,” said Neira as a closing remark.

The sense of community was felt during the whole summit, sparked by the networking cocktails and the roundtables which served to summarize the learnings into actionable insights for the attendants. With its diverse tracks, influential speakers, and timely focus on both AI’s potential and its ethical implications, this year’s summit cemented the CDO LATAM community as a driving force for innovation and transformation in the region.