IDB and NTT Data partner to promote open innovation and digital transformation

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BARRANGUILLA, Colombia, Nov 1, CMC – The Inter-American Development Bank (IDB) and NTT Data say they will work together on topics related to open innovation and digital transformation in Latin America and the Caribbean.

The two entities have signed a Memorandum of Understanding (MOU), under which they agreed to help Latin American and Caribbean organizations and entrepreneurs prepare for an increasingly digital future. The agreement was signed during the FOROMIC event in Barranquilla, Colombia.

The agreement, which builds upon the longstanding collaboration between the IDB and NTT Data on smart cities and blockchain, establishes a framework to promote open innovation and digital transformation through events, proofs of concept, and capacity building activities, among others. The two entities said that the collaboration will prioritize the creation and growth of open, collaborative, neutral and inclusive digital ecosystems that leverage technologies such as Blockchain by joining the multi-stakeholder global alliance LAC Chain.

“There are many opportunities for businesses, organizations, and people from different parts of the world to collaborate and learn from each other regarding the use of transformative digital technologies,” said 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.”

NTT Data’s Kazuhiro Nishihata stated: “By working together on this ambitious initiative with the IDB to promote the digital transformation of Latin America and the Caribbean, implementing disruptive and innovative processes, we aim to exponentially accelerate the region’s development, fostering change and inclusion.”

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