Itaú BBA Tech Summit 2023

Artificial Intelligence & The use of Data

Ben Gotfredson, Global Startup Program Manager (Snowflake ); Cesar Gon, Founder & CEO (CI&T)

  • The panel with Ben Gotfredson and Cesar Gon discusses the increasing relevance of AI and its surge in products, emphasizing the need for governance and security in implementation.

  • Three important factors for companies to consider when implementing AI are discussed: organizational structure, management systems, and leadership models, with an emphasis on simplicity and financial optimization in data processes.

  • Challenges related to data creation and movement are highlighted, and caution is urged in the implementation of AI with thoughtful consideration of data ownership, intellectual property, and applications.

  • Differences and similarities between Latin American/Brazilian startups and Silicon Valley startups are discussed, with a focus on challenges related to data ownership, regulatory and intellectual property rights, and fostering innovation.

  • For startups, the speaker suggests focusing on how AI can drive customer acquisition and go-to-market strategy, while for large companies, creating a vision for AI is important, as well as focusing on infrastructure and skillsets and reshaping governance to deal with security and compliance issues.

Web & Applications

Kathryn Nuys, Global Head Specialized Industries (Amazon Web Services); Alexandre Assolini, Founder&Executive Chairman (Vortx); Brian Brooks, Founding Partner (Valor Capital)

  • The panel discusses on web3 technology and its applications.

  • The panelists highlight the importance of stable coins, infrastructure, and regulatory clarity in the crypto industry.

  • The session emphasizes the potential of blockchain and cryptocurrency in financial markets, particularly for financial inclusion and the tokenization of real assets.

  • The speaker mentions their friend’s company, Figure, and their expansion into various spaces using blockchain technology.

  • The panel concludes with the importance of resilience, freedom, and innovation in the industry, and the potential for a global market.

The next frontier: cross border financing

Roberto Lee, Founder & CEO (Avenue); Anderson Thees, Managing Partner (Cubo Capital); Joao Del Valle, Co-Founder & CEO (EBanx)

  • The session starts discussing the investment service company and its various types of investments in equities, bonds, and crypto.

  • Roberto Lee, Founder & CEO (Avenue); Anderson Thees, Managing Partner (Cubo); Joao Del Valle, Co-Founder & CEO (EBanx) discuss the challenges faced by companies in the financial industry, such as regulations, infrastructure, and technology, and suggest combining infrastructure as a solution.

  • The speakers emphasizes the importance of not waiting for the market to turn before seeking or making investments and focusing on building great companies during uncertain times.

  • The conversation covers the internationalization of Brazilian startups, understanding foreign markets, and the importance of having a team on the ground.

  • The speakers highlights the need for top management involvement and adapting to cultural differences when expanding a business, and discusses an upcoming panel on environmental issues.

Which direction is e-commerce heading?

Geraldo Thomaz, Founder & CEO (VTEX); Diego Barreto, CFO (iFood); Kai Schoppen, Founder & CEO (infra.commerce); Fernando Cirne (locaweb)

  • The panel with Geraldo Thomaz, Founder & CEO (VTEX); Diego Barreto, CFO (iFood); Kai Schoppen, Founder & CEO (infra.commerce); Fernando Cirne (locaweb) discusses the future of commerce in a digitalized e-commerce landscape, including the incorporation of physical stores and the importance of AI and machine learning.

  • The session also talks about the challenges of working with a large amount of data in the context of a company, and the use of AI to efficiently route orders, optimize pricing, and improve customer experience.

  • The speakers mentions the importance of on-premise concepts in finance and working on cyber security measures to protect customers and businesses in online transactions.

  • They also discusses the challenges and opportunities related to the gig economy in the context of e-commerce, including companies providing benefits and protections for gig workers.

  • Finally, the speakers touches on the trend of companies building their own AI capabilities instead of buying companies, and the challenges and advantages of both approaches.

BTG Tech Day 2023

Scenes from the future: A 10- and 20- Year Forecast of Your Industry

Amy Webb, Quantitative futurist and CEO (Future Today Institute)

  • Amy Webb, Quantitative futurist and CEO of Future Today Institute highlights the importance of preparing for the future by analyzing data and identifying trends, rather than predicting the future.
  • The session focuses on emerging technologies such as bioengineering, metaverse, and generative AI, and their potential to disrupt various industries.
  • The speaker emphasizes the need for read perception, which involves exploring uncharted territory and looking beyond obvious trends.
  • Amy expresses concerns about the concentration of power among cloud and AI companies and the potential dangers of generative AI, such as deep faking medical scans.
  • The panel concludes by urging people to have more nuanced conversations about technology and make the best possible choices for society’s benefit, emphasizing that the future is not yet written and depends on our choices.

Tech Investments Outlook

Marcelo Claure, CEO and Founder (Claure Group), André Esteves, Chairman & Senior Partner (BTG Pactual)

  • The panel starts with Marcelo Claure believing that we are in the beginning stages of an AI revolution that will be bigger than any previous technological disruption.
  • He sees AI as a force for good, with the potential to predict and prevent natural disasters and improve medical treatments, but acknowledges the risks associated with fast-moving technology.
  • Marcelo emphasizes the importance of considering future cash flows and profitability when pricing innovation, and identifies tech and biotech as trends he particularly likes.
  • SoftBank’s biggest success was identifying trends and making early bets on companies like Alibaba, Uber, and TikTok, but growth at all costs is not always good.
  • Marcelo discusses the potential for growth in the Latin American telecommunications industry and his goal of equalizing investment opportunities for Latin American entrepreneurs.

EdTech to Emerging Education

Deborah Quazzo, Managing Partner (GSV Ventures); Iona Szkurnik, CEO & Founder (Education Journey)

  • Deborah Quazzo is an entrepreneur and investor who has been working in the education technology sector for over 25 years.
  • Quazzo believes that AI and other technologies can be used to personalize education and enhance team performance.
  • The ASU GSB Summit had the theme “Brave New World,” which anticipates a world where everyone has equal access to the future.
  • Corporations have a huge responsibility in providing workforce development opportunities for their employees.
  • There is a need for deeper investments in the Brazilian market and better budget allocation in learning and development.

Opportunities in Venture Capital

Nigel Morris, Managing Partner (QED Investors); Marcos Toledo, Founding Partner (Canary)

  • Nigel Morris, Managing Partner of QED Investors is bullish on the opportunities for fintech in the financial services industry, particularly in Latin America and other developing regions.
  • Morris highlights the potential for data and APIs to transform the industry and emphasizes the importance of telling the story of fintech to reach greater consciousness.

  • The speaker stresses the importance of credit risk, fraud prevention, and asset liability management in the financial industry, particularly in regions with underdeveloped credit bureaus.

  • Morris sees fintech as a powerful social good that can make a difference in people’s lives by providing access to financial products and services, as well as education and financial literacy.

  • Morris is optimistic about the future of fintech in Latin America and sees huge potential for creating value in society.

Crypto Perspectives for 2023

Joseph Lubin, Founder (Consensys); André Portilho, Partner (BTG Pactual)

  • Blockchain and decentralized protocols represent a new invention of decentralized trust that has the potential to transform various industries by reducing the need for intermediaries.
  • The Ethereum platform enables technologies like NFTs to cross over into mainstream culture and has undergone two significant upgrades.
  • The blockchain and crypto ecosystem can be divided into two camps: money crypto and tech crypto, and appropriate levels of decentralization should be determined for different networks.
  • Decentralized finance (DeFi) provides mechanisms for custodying assets that may not require the same level of regulatory protection, but it will take time for people to understand and accept the benefits of DeFi.
  • The US is trying to separate crypto systems from the legacy financial system to protect it and slow down the growth of the alternate financial system, while other nations are embracing it, and disruptive technologies tend to pick up speed quickly once enough people understand their power.

ChatGPT and The Rise of Conversational AI

Kevin Roose, Bestselling Author, Futureproof and Award-Winning Technology Columnist (The New York Times); Carlos Siqueira, Partner (BTG Pactual)

  • The panel with Kevin Roose, Bestselling Author, Futureproof and Award-Winning Technology Columnist (The New York Times) and Carlos Siqueira, Partner (BTG Pactual) discusses the risks and concerns surrounding generative AI, including disinformation campaigns, job displacement, and the potential for catastrophic outcomes.
  • Governments and societies will need to find ways to help people through the transition, particularly those in jobs most susceptible to displacement, which includes complex cognitive labor in high-tech industries.
  • The session also notes potential benefits of AI in education, particularly in personalized learning and feedback.
  • Kevin shares experiences with Microsoft’s Bing chatbot and a story about GPT-4, highlighting concerns about the goals given to these systems and their achievements.
  • The interview concludes with a message of uncertainty and the importance of collective engagement with the technology.

Latin America Private Tech Trailblazers Summit 2023

Adjusting to the new reality, raising efficiency and Extracting Profitability

Adhemar Milani Neto, Co-founer & EO (Kovi); Antonio Soares, Founder & CEO (Dock); Eduardo Chedid, Chief Executive Officer (PicPay); Thiago Souza, CFO & IRO (Agibank); Marcos Toledo, Co-founder (Canary)

  • The panel, featuring leaders from Brazilian tech companies such as PicPay, Agibank, Dock, and Kovi, discussed strategies to navigate the challenging economic environment, emphasizing the importance of improving efficiencies, balancing growth with profitability, and strategic fundraising.
  • Kovi’s CEO, Adhemar Milani Neto, discussed the company’s focus on enhancing customer experience and reducing costs by improving infrastructure, particularly maintenance. Despite Kovi’s rapid growth, the importance of improving profit margins was recognized, and the company is now investing in technology and efficiency.
  • Antonio Soares of Dock, a fintech company providing digital banking infrastructure, sees the significant unbanked population in Brazil and other Latin American countries as an opportunity to improve financial inclusion, making strategic acquisitions to strengthen their capabilities in this area.
  • Eduardo Chedid of PicPay shared how the company evolved into a broader financial ecosystem, shifting focus from user acquisition to net revenue growth. The company’s successful turnaround strategy involved launching new monetizable products, price optimization, efficiency gains, and embracing Brazil’s instant payment system, Pix.
  • Addressing the challenging funding environment, Marcos Toledo of Canary Ventures advised companies not yet at breakeven to raise capital, even if not under ideal terms. He noted that growth funds are more focused on existing portfolios and less on new investments, creating potential for surviving companies to become sector leaders.

Monetizing The Supply Chain Finance Opportunity

Marcelo Serfaty, Fouder, G5 Partner & CEO (Liber); Sebastian Kreis, Co-founder & CEO (Xepelin); Eduardo Alcalay, President Brasil (BofA Securities)

  • Libor, led by CEO Marcelo Serfaty, aims to address the significant finance gap experienced by Small and Medium-sized Businesses (SMBs) in Latin America, particularly Brazil. By fostering relationships between industries, suppliers, and retailers, Libor leverages real transaction data and the reach of large corporations to extend credit to SMBs and counter the limited offerings from traditional financial institutions.
  • The discussion highlights the importance of data in understanding the financial needs of SMBs, the necessity for adaptable funding models, the evolution of underwriting methods, and the budding relationship between fintechs and traditional banks. The use of AI and comprehensive information about companies helps better understand their clients and create more robust risk models, while short-duration loans allow for repeated performance evaluation and trust-building.
  • The conversation also touches on the trend of large corporates setting up their own financial services units and their potential competition or collaboration with fintech companies. By offering diversified risk through serving all suppliers, not just large ones, and by providing a comprehensive solution, companies like Libor can attract corporates to partner or invest with them rather than creating their own financial services.
  • Looking to the future, the panelists see significant growth potential through expanding into more industries, leveraging the digitalization of invoices in Brazil, and capitalizing on the current low-interest economic environment. They also plan to develop support products based on their expansive data and transaction handling, with a focus on the expanding tech and entrepreneurship ecosystems in countries like Mexico and Chile.
  • The panelists discuss the reaction of large banks to the rise of fintechs, recognizing potential partnerships and acquisition opportunities. They emphasize the importance of credit in fintech and envision a future where they provide a comprehensive financial services marketplace for SMEs, offering all the financial products they need in a competitive way.

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