Venezuela crisis, Colombian wages and AI - a reality check for LATAM BPO & GBS
In this episode of Good Morning BSS World, I return to Latin America for our regular monthly update on the BPO and GBS industry, and I am joined once again by my good friend and LATAM expert, Mauricio Velasquez. Based on most recent Venezuela’s crisis our conversation begins with a timely look at this country – a country that historically played a significant role in regional shared services and IT operations, and which may or not once again attract attention in the coming years. Without diving too deep into politics, we focus on business realities, talent availability, and the long-term potential of Venezuelan professionals both at home and across the region. We then move to one of the hottest topics impacting nearshoring decisions today: labor costs. Mauricio shares his on-the-ground perspective on Colombia’s recent 23% minimum wage increase and explains why this is a major challenge for BPO and GBS providers operating in the country.
Key Points
- Venezuela's potential resurgence as a BPO and IT hub hinges on political stability and the return of skilled Venezuelans to rebuild the business environment.
- The significant increase in Colombia's minimum wage could impact the country's competitiveness in the BPO sector, potentially shifting business to other Latin American countries with lower labor costs.
- The key to leveraging AI in the BPO sector lies in combining it with human capabilities, ensuring that technology enhances rather than replaces the workforce.
Chapters
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| 1:23 | |
| 7:03 | |
| 11:14 | |
| 15:18 | |
| 22:26 | |
| 23:31 | |
| 29:17 | |
| 34:31 | |
| 36:52 | |
| 37:21 | |
| 38:37 | |
| 39:37 | |
| 40:54 |
Transcript
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