Inter-American Development Bank (IDB) and NTT Data execute a Memorandum of Understanding to promote open innovation and digital transformation in Latin American and the Caribbean
Wednesday, 31 October, 2018

NTT Data, one of the top ten  IT service corporations worldwide, announces the execution of a "Memorandum of Understanding" with the Inter-American Development Bank (IDB) to promote programs and projects of open innovation and digital transformation in Latin America and the Caribbean.

This Memorandum of Understanding, formalizes a non-exclusive framework of cooperation, and facilitates collaboration to promote innovation and digital transformation programs and projects in Latin America and the Caribbean for all types of organizations and entrepreneurs. 

In particular, the organizations will explore possible cooperation in the following areas:

a) Promote open innovation and digital transformation through the creation and dissemination of knowledge on new disruptive and emerging technologies through events, Proof of Concepts (PoC), among others

b) Support the creation and growth of open, collaborative, neutral and inclusive digital ecosystems that leverage technologies such as Blockchain / DLT, IoT, Big Data, Artificial Intelligence, Quantum Computing, and Virtual Reality

c) Support consortiums and/or associations that promote technologically agnostic ecosystems in a transparent manner

d) Support the development and expansion of cases in disruptive and emerging technologies with high social and/or environmental relevance in areas such as smart cities, fintech, agtech, regional integration, logistics, health, e-government, among others

e) Collaborate in the promotion of technological standards to support the development of collaborative and integrated regional platforms.

f) Identify global digital best practices and transfer to Latin America and the Caribbean, including supporting the development of entrepreneurial networks between the regions. 

Moving forward, the Inter-American Development Bank and NTT Data may convene on other actions within the same scope.

For NTT Data's Kazuhiro Nishihata, "Working together in this ambitious initiative with the Inter-American Development Bank to promote the digital transformation of Latin America and the Caribbean, to implement diverse actions in the creation of disruptive and innovative processes, will accelerate in an exponential way the development of the region and is a valuable factor for change and inclusion."

“There are numerous opportunities for businesses, organizations, and citizens from the same or different territories to collaborate and learn from one another regarding the use of the digital technologies that are fundamentally transforming our societies,” remarked Bernardo Guillamon, Manager of the IDB’s Office of Outreach and Partnerships. “Our partnership with NTT Data will help us provide Latin America and the Caribbean with key insights and best practices for digital transformation.”

This memorable act was fulfilled in Foromic 2018 in Barranquilla, Colombia.