The artificial intelligence market size was valued at US$ 193.25 billion in 2024 and is expected to reach US$ 1,706.71 billion by 2031; it is estimated to record a CAGR of 37.8% from 2024 to 2031.

South and Central America is segmented into Brazil, Argentina, and the Rest of South and Central America. The artificial intelligence market in South and Central America is gaining significant momentum, driven by a combination of technological, economic, and regulatory factors that are reshaping the digital landscape. As businesses across industries seek to leverage AI to enhance operational efficiency and customer engagement, the market is poised for robust expansion. Moreover, the digital transformation across sectors such as finance, healthcare, retail, and agriculture is increasing. Organizations are adopting AI-powered solutions to automate processes, gain data-driven insights, and improve decision-making. For example, AI applications in predictive analytics and customer personalization are helping companies enhance service delivery and optimize resource allocation, thereby driving market demand. The region is advancing in the development of artificial intelligence. For instance, in February 2025, Latam-GPT is a language model developed to authentically reflect the history, culture, and linguistic diversity of Latin America. Announced at the Paris AI Action Summit, this initiative is spearheaded by Chile's Ministry of Science, Technology, Knowledge, and Innovation (CTCI) and the National Center for Artificial Intelligence (Cenia), with collaboration from experts and institutions throughout Latin America. The development of Latam-GPT has been financed through investments supported by the Andean Development Corporation and the University of Tarapac?. Participating countries in this collaborative effort include Argentina, Colombia, Ecuador, Mexico, Peru, and Uruguay, with additional backing from institutions based in the US and Spain.

In recent years, Brazil has positioned itself as a key hub for artificial intelligence (AI) innovation in Latin America. The rise of the data-driven economy, accelerated digitalization, and growing demand for advanced tech solutions have driven AI adoption across sectors such as healthcare, agribusiness, education, and public security. A collaborative ecosystem-comprising academic institutions, start-ups, and major corporations has emerged, fostering both research and real-world AI applications. This synergy has led to meaningful innovations that enhance operational efficiency and service delivery. Despite this progress, Brazil continues to face challenges around regulation, data privacy, and the development of a skilled AI workforce. Addressing these issues is critical for ensuring the country's AI growth remains sustainable, ethical, and aligned with international standards. Notably, Brazil has made strides in AI governance and is working to strengthen responsible AI frameworks, especially in light of its G20 presidency, which began in December 2023.

Accenture Plc, Advanced Micro Devices Inc, Google LLC, International Business Machines Corp, Intel Corp, Microsoft Corp, NVIDIA Corp, Amazon Web Services Inc, SAP SE, and SAS Institute Inc are among the top companies profiled in the global artificial intelligence market report.

The overall artificial intelligence market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the artificial intelligence market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the artificial intelligence market.