With aims of providing the city the necessary tools to be a part of a new global knowledge-based economy and thus ensuring a better future for the citizens of Medellín, Ruta N has signed a Memorandum of Understanding (MOU) with the Institute for Robotic Process Automation and Artificial Intelligence (IRPA AI).
The MOU will create a Center of Excellence that will generate, from within the city, advanced services in RPA Artificial Intelligence (AI) for the world, while developing the local talent needed for these knowledge areas.
“This initiative will give us significant economic leverage by creating quality jobs on innovation over the next years, which will have a positive impact on the city’s future. IRPA AI’s expansive global network and technology expertise will help anchor Medellín as the RPA and AI hub of Latin America”, manifested Alejandro Franco, executive director at Ruta N.
This marks a milestone for innovation at Medellín by focusing on one of the most impactful areas on the transformation of employment dynamics, which will in turn create more jobs and promote the city’s economic growth.
“The world is changing rapidly and technologies are advancing vertiginously. Societies can either ignore what is happening or they can decisively face the proper incorporation of these new dynamics for the wellbeing of their inhabitants. Medellín has taken the latter road: we want AI to be a new source of high quality jobs and income for our people, instead of a new source of inequity and concern for the city”, said Elkin Echeverri, Director of Planning and Prospective at Ruta N.
This is a new project associated to disruptive businesses supported by Ruta N that are well on their way, such as the Innovation Platform for Health Transactions (PITS) and the new Electric Mobility System, both aimed at solving our society’s most urgent challenges with innovation.
Ruta N, in alliance with IRPA AI, will train and employ professionals to build and supply new innovative services based on Machine Learning, RPA, Cognitive Computing and Deep Learning. Today, these services are highly demanded by different organizations to improve their competitiveness.
This new enterprise will serve as an anchor for a new Business Development Center that will join other operating in the city for businesses related to the Internet of Things, Biotechnology and high impact entrepreneurship, which, along with Medellín’s Smart Capital Network, have accompanied the creation of multiple technology-based companies. This constitutes a true productive transformation that is already underway.
This Business Development Center will leverage AI startups created in the city, some of them operating from Ruta N’s complex at the heart of Medellín’s Innovation District. It will also integrate youth communities specialized in AI that are currently working in the region, as well as R&D groups that have been working from our universities. Ruta N is promoting new agreements with local entities to create this talent and ensure benefits for IT companies operating in the city.
According to Enrico Moretti, author of The New Geography of Jobs, based on growth statistics from 300 cities over the last 50 years, every job created by innovation produces five additional jobs in different areas of the economy. This is a positive upwards spiral that leverages local economies since people with a better income trigger an economic spill for all the sectors of the city.
“This is amazing news for Colombia. Betting on AI represents significant advantages for the development of solutions that will allow colombian and foreign companies to obtain or maintain competitive advantages. This alliance promotes knowledge and technology transfers as well as job creation and will boost R&D programs across the country”, said Felipe Jaramillo, President of ProColombia, a key ally in the process of attracting IRPA AI to Medellín.
Another key ally is the ACI Medellin, which supports this MOU by providing american companies with legal and operational guidance in Medellin, industry context and key local connections, thus facilitating their easy entry and growth thereof on the Colombian market.
About IRPA AI
Founded in 2013, the Institute for Robotic Process Automation and Artificial Intelligence (IRPA AI) is an independent professional association and knowledge forum for buyers, sellers, influencers and analysts of robotic process automation, cognitive computing and artificial intelligence. Our global network and advisory services offer leading-edge market intelligence, industry research, sourcing assistance and events as well as opportunities to learn and network with stakeholders across service industry functions. Membership in IRPA AI is free. To join and to learn more about IRPA AI please visit: www.irpaai.com.
About RUTA N
Ruta N is a corporation created by the Medellin City Hall, TIGO-UNE and EPM in 2011 to boost the city’s innovation ecosystem by promoting the development of innovative technology-based companies, thus increasing the competitiveness of the city and the region. The Ruta N corporation, which is financed with public funds, not only promotes the development of companies operating in Medellin (Colombia’s second largest city), but also works with the public and private sectors to foster innovation, support entrepreneurs and provide technological training for youth.
About the ACI Medellin
Founded in 2002, the Cooperation and Investment Agency of Medellin and the Metropolitan Area (ACI Medellin) is the entity responsible for finding different organizations and allies at the international level to foster the development of the region through two tools: foreign direct investment and international cooperation. The ACI Medellin supports this Memorandum of Understanding by providing american companies with legal and operational guidance in Medellin, industry context and key local connections, thus facilitating their easy entry and growth thereof on the Colombian market.
ProColombia is the organization tasked with the commercial promotion of non-traditional exports, international tourism, Foreign Investment in Colombia and the Colombia Country Brand. Through our national and international network of offices, we provide comprehensive consultancy and support to local entrepreneurs through services aimed at facilitating the design and implementation of their internationalization strategies, striving to generate, develop and finalize business opportunities.