Cyber security continues to be one of the biggest threats impacting modern society, as most of our day to day experiences are played out virtually. We are hyperconnected through smart devices that have reshaped culture and transformed how we live and work. From online wallets to social media, smart speakers to drones, as consumers, we have served up a virtual smorgasbord of data points for hackers to prey on. Companies amassing these data points are especially at risk as they are the keepers of purchase behavior, transaction history, financial information, and more.
Technology is driving growth across industries, creating space for unconventional ideas and technological innovations that infiltrate traditional models and disrupt the status quo. Companies unable to pivot find themselves in the fight of their lives. Peer to peer ride-sharing services such as Uber and Lyft, for example, have wounded the taxi industry, and entertainment streaming services, like Netflix and Hulu are slowly sending linear TV to an early grave.
Increasing competition in the U.S. has some brands seeking new markets, including those south of the border. More widespread internet access in Latin America has opened a gateway to growth for companies looking to do business in LATAM. But some brands are stumbling through the learning curve of understanding the region’s consumers. One of the biggest challenges has been dealing with pre-conceived notions about Race and Socio- Economic status in LATAM, which differs from classifications done in the U.S.