In the wake of Hurricane Maria, Puerto Rico's economic landscape faced significant challenges. However, Intelligent Economics, a local firm, is making strides by utilizing artificial intelligence (AI) to assist companies in navigating and thriving in this complex environment, according to a report from Microsoft News .
Embracing Technology to Be Competitive
Intelligent Economics has developed a platform powered by Azure App Service, which hosts web applications via Microsoft’s cloud computing services. Utilizing Power BI, a suite of software that transforms data into visuals and interactive insights, the platform has continuously evolved since its 2018 inception. In November, the firm launched a beta version of its AI bot to enhance client data searches and user experience.
The AI bot, operating on Azure OpenAI Service with a GPT-4 model, incorporates Azure AI Foundry and Azure AI Search to deploy machine learning models on Azure. Importantly, client data remains anonymous, while interactions help refine the bot's functionality.
The platform is enriched with over 1,000 economic indicators from Puerto Rico, the Dominican Republic, and other regions, curated by Intelligent Economics' team of economists. Clients can also integrate their internal data to create tailored business projections.
Navigating Local Economics
Intelligent Economics provides clients with comprehensive economic data, enabling them to spot regional trends efficiently. Thompson, from De la Cruz, a notable advertising firm, highlighted the platform's role in streamlining work processes and facilitating strategic decisions, such as justifying acquisitions and identifying new market opportunities.
Puerto Rico's economic context, marked by a prolonged downturn and natural disasters, requires a nuanced approach. Intelligent Economics, founded by economist Gustavo Vélez, leverages digital tools to deliver critical insights, aiding businesses in strategic planning and enhancing their competitiveness.
As the firm continues to innovate, Vice President Chantal Benet emphasizes their commitment to expanding digital capabilities: "We always knew that technology was the future." By integrating advanced AI solutions, Intelligent Economics is poised to triple its sales in the coming decade, serving a growing client base without expanding its workforce.
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