Puerto Rico Chamber of Commerce Promotes Access to Capital and Use of Artificial Intelligence by Women Entrepreneurs
San Juan, Puerto Rico – The use of technologies such as artificial intelligence and social media, coupled with greater access to sources of capital, can transform businesses run by women entrepreneurs, according to experts who participated in the Enterprise Women Forum event of the Puerto Rico Chamber of Commerce (PRCC) and its Network of Businesswomen and Professional Women, focused on facilitating access to these tools for business operation.
“We are excited and pleased with the reception this event has received. The Enterprise Women Forum is part of CCPR’s efforts to facilitate access to knowledge and tools that strengthen the operation of women-led businesses,” said Ramon Perez Blanco, Esq., president of the Puerto Rico Chamber of Commerce and president of Fulcro Insurance, Inc.
According to cybersecurity and artificial intelligence researcher Anamaria Cagua, artificial intelligence can be used for industry trends, audience preferences, and popular topics in a particular field. “AI-generated content has the potential to revolutionize the way we create and consume content,” Cagua said.
Artificial Intelligence (AI) refers to technology that seeks to simulate human intelligence using machines that are programmed to think and learn like humans. AI systems can perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and language translation. Cagua explained that entrepreneurs can use AI to generate content aligned with the brand’s values and message, saving time and resources. By analyzing audience data, it is possible to create unique and personalized content that has greater resonance.
CPA María Virella -Báez, president of WorldNet Telecommunications, said the use of technology in business can be applied to the automation of routine and repetitive tasks to streamline internal processes and reduce operational costs. It can also be implemented to improve the customer experience, with tools such as mobile apps, interactive web pages, AI-based customer service systems and chatbots, payment and purchase alternatives, and phone systems that allow the handling of a greater flow of customer calls. Virella -Báez pointed out that the success of integrating technology into business operations lies in how it is implemented and integrated into the company’s overall strategy. In the same way, he stressed that the needs of the company and customers must be taken into consideration.
Margaret Ramírez -Báez, Esq., president of the Network of Businesswomen and Professional Women of the Puerto Rico Chamber of Commerce, said that access to and proper use of capital are critical to the operation and growth of women-led businesses. She referenced a study reviewed in the National Women’s Business Council’s report Understanding the Landscape: Access to Capital for Women Entrepreneurs, women business owners injected significantly lower levels of capital compared to men. In terms of sources of capital, women were more dependent than men on the use of capital from owners and internal financing than on external sources.
According to an analysis by the firm BCG, if women and men participated in access to capital in equal measure as entrepreneurs, the global gross domestic product (GDP) could increase by approximately 3% to 6%, boosting the global economy between $2,500 and $5,000 trillion. Although they receive less than half the investment of male-founded companies, the study found that female-founded and co-founded companies performed better over time, generating 10% more in cumulative revenue over a five-year period.
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