Globant intends to actively develop AI solutions
Argentinian company Globant has announced an investment in AI development. It plans to allocate US$1 billion to develop its own AI division in Latin America. The funds will go towards the development of new AI solutions, as well as increasing the number of employees. Within 5-6 years, the company’s workforce should double from 27,000 to 47,000 people.
The director of the IT company, Martin Migoya, announced the creation of a centre that will focus on developments in AI and quantum computing. The centre will be in São Paulo. Globant will provide funding from its own revenues to finance the unit. The move comes as the company looks to strengthen its position in the Latin American market, not only in software development but also in research and innovation.
In addition, Globant plans to improve its current products to create software based on artificial intelligence. In this way, the company hopes to expand its range of services and attract new customers. A particular focus is on incorporating AI capabilities in collaborations with partners, including sports franchises.
Overview of Globant’s operations
Globant is a developer of software and technology solutions of varying complexity. The company operates in Latin America, USA, UK, Canada, India and other countries. The company was founded in 2003 by four entrepreneurs with their own capital. Globant was originally in Buenos Aires, but now its headquarters are in Luxembourg. Among other factors, this move is due to the fact that most of the developer’s customers are from the UK, US and European countries.
The company is the leading IT services provider in Latin America. In addition, in 2007, Globant ranked first in the Global Services magazine rating as the best service provider among newcomers.
Main stages of the company’s development:
– 2007 – Globant opened a representative office in the USA. During this period, the company, together with BGH, organised Fonalix, a provider of IP telephony services in Latin America;
– 2008 – the company received a US$13 million investment to acquire an Argentine company that provides security and IT infrastructure management services. By this time, Globant’s workforce had reached one thousand employees.
– 2010 – the company reorganised and created eight new divisions, specialising in different areas: Big Data, Gaming, Cloud Solutions and others;
– 2015 – Clarice Technologies joined Globant’s structure, strengthening its presence in the Asian market;
– 2019 – Globant acquired Avanxo, one of the leaders in cloud transformation services.
Globant develops its business by acquiring companies in different countries, allowing it to enter new markets.