Technology
Colombia Introduces Bill to Regulate Artificial Intelligence
On May 7, 2025, the Colombian government submitted a comprehensive bill to the Senate to regulate artificial intelligence (AI) nationwide. The draft law, led by the Ministry of Science, Technology and Innovation and the Ministry of ICT, establishes a risk-based classification system for AI systems—prohibited, high, limited, and minimal risk—and sets clear requirements for each category. The bill designates the Ministry of Science as the National Authority on AI and creates a National Advisory Council to guide policy and oversight. Key provisions include robust protections for privacy, non-discrimination, and human dignity, as well as measures to promote research, talent development, job transition, and incentives for projects with social, territorial, and scientific impact.
This legislative initiative is closely aligned with Colombia’s National AI Policy (CONPES 4144) and draws on international frameworks such as the OECD AI Principles, UNESCO’s Recommendation on AI Ethics, and the European Union’s AI Act. For the TMT sector, the bill represents a significant regulatory milestone, introducing clear compliance and risk management obligations for AI developers, providers, and users. Companies operating in Colombia will need to adapt to new standards of transparency, accountability, and data protection, if approved. The focus on research, talent, and international cooperation also opens opportunities for public-private collaboration and investment in AI-driven innovation. If enacted, Colombia would position itself as a regional leader in responsible AI governance, potentially influencing regulatory trends across Latin America.
Source: Draft Bill “Por medio de la cual se regula la inteligencia artificial en Colombia para garantizar su desarrollo ético y responsable”, Ministry of Science, Technology and Innovation and Ministry of ICT, May 7, 2025.
US Outbound Investment Security Program Now in Effect: New Restrictions and Notification Requirements for Technology Investments in China
On January 2, 2025, the US Department of the Treasury’s Outbound Investment Security Program (OISP) entered into force, introducing significant new restrictions and notification obligations for US persons investing in certain technology sectors in China, Hong Kong, and Macau. The OISP, established under Executive Order 14105, targets outbound investments in semiconductors and microelectronics, quantum information technologies, and artificial intelligence (AI). US citizens, permanent residents, and US-registered entities must comply, including by preventing their foreign branches and subsidiaries from engaging in prohibited transactions. The rules define “covered transactions” broadly, encompassing acquisitions, loans, joint ventures, and certain fund interests involving “covered foreign persons”—entities or individuals with substantial ties to China and active in the specified technology sectors. Transactions may be outright prohibited or require post-closing notification to the Treasury, depending on the technology and activity involved. The OISP also imposes a “knowledge” standard, requiring US persons to conduct reasonable and diligent due diligence to determine whether a transaction is within scope. Violations can result in severe civil and criminal penalties, including fines, divestment, and imprisonment.
The OISP marks a significant shift in US policy, representing the first comprehensive outbound investment screening regime targeting national security concerns in emerging technologies. For the TMT sector, this means heightened compliance obligations and increased scrutiny of cross-border investments, particularly those involving China or entities with Chinese ownership or control. The broad definitions of “covered transaction” and “covered foreign person” mean that even investments in third countries could be captured if there is a Chinese nexus. Companies must implement robust compliance programmes, conduct thorough due diligence, and ensure timely notifications to avoid penalties. The OISP is expected to evolve, with further guidance and potential expansion of covered sectors likely. For Colombia and other countries, the OISP may influence global investment flows and prompt similar regulatory initiatives, as seen with the European Commission’s recent recommendation for outbound investment reviews in strategic technologies. Colombian TMT companies with US investors or operations should assess their exposure and prepare for increased regulatory complexity in international transactions.
Source: White & Case, Gibson Dunn, Greenberg Traurig
DoorDash to Acquire UK’s Deliveroo for $3.9 Billion, Marking Major Global Expansion
On 6 May 2025, British food delivery company Deliveroo announced it had agreed to a takeover offer from US-based DoorDash, valuing Deliveroo at £2.9 billion ($3.9 billion). DoorDash will acquire all issued and to be issued shares at 180 pence per share, representing a 44% premium over Deliveroo’s share price prior to the offer. The combined entity will operate in over 40 countries, serving approximately 50 million customers monthly. This acquisition follows DoorDash’s previous purchase of Finnish delivery app Wolt in 2022 and signals a renewed push for international growth. The deal, which still requires shareholder approval, is expected to intensify competition in the UK and European food delivery markets, particularly against rivals such as Just Eat and Uber Eats.
For the TMT sector, this transaction highlights the ongoing consolidation within the global food delivery industry, as major players seek scale and technological advantage to remain competitive. The merger will allow DoorDash and Deliveroo to invest more heavily in product development, technology, and consumer experience, potentially setting new standards for digital platforms in local commerce. The deal also reflects a broader trend of US firms acquiring UK-listed technology companies, raising questions about the long-term competitiveness of European tech markets. For Colombia and Latin America, the move underscores the increasing globalisation of digital platforms and the potential for similar consolidation or expansion strategies in the region’s rapidly growing delivery and e-commerce sectors. Companies operating in these markets should monitor how global players leverage scale, technology, and cross-border operations to shape consumer expectations and regulatory responses.
$7 Trillion Needed for AI Data Centres by 2030, Says McKinsey
A recent McKinsey & Company report estimates that nearly $7 trillion in capital expenditure will be required by 2030 to meet the global demand for AI-ready data centres. The report breaks down the figure into $5.2 trillion for AI-specific data centre capacity and $1.5 trillion for traditional IT applications, with the total investment depending on whether current demand trends continue or accelerate. Experts note that while the estimate is ambitious, it is not implausible if demand for AI infrastructure remains strong. However, challenges such as skilled labour shortages, infrastructure build-out, and geopolitical uncertainties—including fluctuating tariffs—could affect the pace and scale of investment.
For the TMT sector, this projection underscores the immense financial and operational challenges associated with scaling digital infrastructure to support AI innovation. The need for massive capital outlays may drive further consolidation in the data centre industry and intensify competition for resources, talent, and energy. For emerging markets like Colombia, the global race to build AI-ready infrastructure presents both opportunities and risks: local players may attract investment if they can offer competitive conditions, but they must also navigate global supply chain pressures and regulatory shifts. Policymakers and industry leaders should consider strategies to foster data centre development, address workforce gaps, and ensure that Colombia remains integrated into the evolving global digital ecosystem.
Source: IT Brew
OpenAI remains under nonprofit control as it restructures its commercial arm
OpenAI, which was founded as a nonprofit, has decided to keep its nonprofit board in control while restructuring its for-profit arm as a public benefit corporation (PBC), following the example of Anthropic and xAI. This move reverses a previous plan that would have removed nonprofit board oversight, and comes after pressure from ex-employees, a lawsuit from Elon Musk, and discussions with the California and Delaware attorneys general. The decision aims to balance OpenAI’s original mission to develop AI for the benefit of humanity with the need to attract investment and compete in the market.
This development is significant for the TMT sector as it highlights the ongoing tension between ethical missions and commercial pressures in advanced AI development. The fact that the nonprofit board retains control could serve as a model for other tech companies seeking to balance innovation, social responsibility, and profitability. For Colombia and Latin America, where AI regulation and ethics are emerging topics, OpenAI’s case offers lessons in governance, transparency, and the importance of structures that prioritise the public interest in the adoption of disruptive technologies.
Source: Emerging Tech Brew
Rhizome raises funds to boost AI-powered grid resilience
Rhizome, a startup using artificial intelligence to help utilities prepare for extreme weather events and prevent power outages, has raised $6.5 million in seed funding. Its products—gridADAPT, gridFIRM, and gridCAVA—leverage data on equipment, maintenance, and historical weather to predict how infrastructure investments will perform over time. The company encourages utilities to take a proactive approach to climate-proofing their assets and plans to use the new funding to expand internationally and further develop its machine learning platform.
For the TMT sector, this news highlights the increasing integration of AI in the management of critical infrastructure and the shift towards more resilient and sustainable power grids. The ability to anticipate and mitigate climate risks using AI is particularly relevant in regions vulnerable to extreme weather, such as Colombia and Latin America, where modernising the electricity grid is essential for energy security and digital transformation. Furthermore, the growing investment in such technological solutions signals rising interest in green innovation and the digital transformation of the energy sector.
Source: Emerging Tech Brew
Privacy and Cybersecurity
Coinbase Faces Multiple Lawsuits Following Major Customer Data Breach
Coinbase, a leading cryptocurrency exchange, is facing at least six lawsuits in the United States after disclosing a significant data breach involving its customer support agents. The breach, reported on 15 May 2025, occurred when several overseas support agents were bribed to provide access to internal systems, resulting in the theft of personal information such as names, addresses, phone numbers, emails, partial Social Security numbers, and some financial data. Although no login credentials or funds were stolen, the attackers attempted to extort $20 million from Coinbase, which the company refused to pay. Plaintiffs allege that Coinbase failed to implement adequate security measures and did not respond effectively to the incident, leaving users exposed to risks of identity theft and financial fraud.
This incident highlights the growing sophistication of cyberattacks targeting technology and financial platforms, particularly through social engineering and insider threats. The lawsuits against Coinbase underscore the increasing legal and regulatory scrutiny faced by companies handling sensitive user data, especially in the rapidly evolving crypto sector. For the TMT sector globally, and in Colombia, this case serves as a reminder of the critical importance of robust cybersecurity protocols, employee training, and transparent incident response strategies. As digital assets and fintech services expand in Colombia and Latin America, local companies must strengthen their defences to maintain user trust and comply with emerging data protection regulations.
Source: Coinbase, IT Brew, Cointelegraph and SEC
Telecomms
Government Entities Issue Opinions on the TIGO-MOVISTAR Integration
On May 15, 2025, the Communications Regulation Commission (CRC), as the technical authority for the ICT sector in Colombia, issued a technical opinion regarding the ongoing business integration process between TIGO-UNE (Colombia Móvil) and MOVISTAR (Telefónica Colombia). The CRC clarified that its opinion does not constitute approval or rejection of the proposed integration but rather provides technical input and analytical information to support a comprehensive assessment of the potential effects on Colombia's telecommunications markets. The CRC's analysis covered 17 relevant wholesale and retail markets involving the companies. While potential benefits in efficiency and service quality were identified, the CRC highlighted significant risks in three key markets: wholesale mobile access and origination, retail mobile services, and residential fixed internet. In these markets, the integration could lead to high market concentration, reduced competition, and possible barriers for other operators, particularly in the provision of services to virtual mobile operators (MVNOs) and in major urban areas. The CRC recommended maintaining and, if necessary, strengthening the conditions established by the SIC in Resolution 61548 of 2023, especially those ensuring third-party access to national automatic roaming and wholesale services for MVNOs. The Commission emphasized the need for coordinated action with the SIC to design measures that preserve effective competition and user welfare.
Shortly after, the Ministry of Information and Communication Technologies (MinTIC) also issued its own technical opinion on the integration. The MinTIC recognized that the operation could generate efficiencies and improve the competitive balance against the dominant operator (Claro) but expressed concern about the risks of tacit coordination in a highly concentrated market and the potential negative impact on smaller competitors and MVNOs. The Ministry recommended a series of measures to mitigate these risks, including ensuring stable and non-discriminatory access conditions for MVNOs, guaranteeing wholesale access to the integrated entity’s mobile access network (RAN) for third-party operators (especially WOM), setting regulated tariffs based on marginal costs for such access, and establishing a minimum period for these pro-competitive obligations. The MinTIC also suggested strict monitoring of retail prices post-integration, the implementation of a portability window for users, and the prevention of dismantling mobile infrastructure in rural areas without prior authorization. The Ministry emphasized the need for active and coordinated regulatory oversight to ensure that the benefits of the integration are effectively passed on to users in the form of better prices, coverage, and service quality.
This dual pronouncement is highly relevant for the TMT sector in Colombia, as the potential integration between TIGO-UNE and MOVISTAR could reshape the competitive landscape in key telecommunications markets. The opinions of both the CRC and MinTIC underscore the need for robust regulatory oversight and specific safeguards to prevent excessive market concentration, ensure fair access for all operators, and protect consumer welfare. The outcome of this process will set important precedents for future mergers and acquisitions in the sector, impacting investment, innovation, and consumer choice.
Note: The final decision is still pending from the national competition authority, the Superintendence of Industry and Commerce (SIC).
Cloud Services Demand in Colombia to Grow by 30% in 2025
According to data from Amazon Web Services (AWS), demand for cloud services in Latin America is expected to grow by 30% in 2025, with Colombia projected to see growth between 30% and 40%, reaching a market value of approximately USD 30 billion this year. Tigo, a leading telecommunications provider in Colombia, has been recognised by AWS for its leadership and expertise in delivering cloud solutions, earning multiple certifications for its participation in the AWS Well-Architected Framework programme.
Tigo’s cloud services have supported the digital transformation of various organisations in Colombia, offering solutions focused on security, efficiency, and scalability. The company has excelled in areas such as migration, modernisation, cloud storage, data backup, and recovery, as well as providing tailored services for government and education sectors. For small and medium-sized enterprises (SMEs), cloud adoption offers significant benefits, including cost reduction, scalability, accessibility, and enhanced data security.
The rapid growth in cloud services demand reflects the accelerating digital transformation across Colombia and Latin America. For the TMT sector, this trend presents opportunities for innovation, new business models, and increased competitiveness. Companies that invest in secure, scalable, and efficient cloud solutions will be better positioned to support the evolving needs of businesses and public sector clients. The recognition of local providers like Tigo by global leaders such as AWS also highlights the maturing cloud ecosystem in Colombia.
Source: La República
Media and Entertainment
Colombia Faces Uncertainty as U.S. Considers Tariffs on Audiovisual Productions
The Colombian film and television industry is experiencing significant growth, driven by international productions—particularly from the United States—attracted by Colombia’s competitive incentives and diverse locations. Local production companies have thrived thanks to government-backed schemes like the Colombia Film Fund (FFC) and the Certificates of Audiovisual Investment in Colombia (CINA), which offer substantial rebates and tax credits to foreign productions. However, President Trump’s proposed tariffs on audiovisual content threaten to disrupt this momentum, raising concerns among local producers about the viability of future U.S.-Colombia collaborations. Industry leaders highlight that many independent films, which rely on Colombia’s cost advantages, may no longer be feasible if tariffs are imposed, potentially reducing the number of international projects and impacting the local economy.
For the TMT sector, these potential tariffs represent a major risk to Colombia’s position as a regional hub for audiovisual production. The uncertainty could deter new investments and undermine the effectiveness of Colombia’s incentive programmes, which have been instrumental in attracting global studios and streamers such as Netflix and Paramount. If implemented, the tariffs may force local companies to pivot towards strengthening domestic production and co-productions with other countries, reducing reliance on U.S. projects. For Colombia, maintaining a stable and attractive environment for international productions is crucial for job creation, skills development, and the continued growth of its creative industries. The sector must closely monitor regulatory developments and consider strategies to mitigate the impact of potential trade barriers.
Source: The Hollywood Reporter
Tax Benefit for Cinematic Investment Certificates Clarified by DIAN
The Colombian tax authority (DIAN) has issued an official interpretation clarifying the rules regarding the transfer and tax benefits of Certificates of Investment or Donation in Cinematography (CID). According to DIAN, the tax benefit associated with these certificates is assigned exclusively to the holder of the certificate at the end of the fiscal year in which the initial investment was made. If the certificate is transferred in the secondary market before the end of the fiscal year, the right to the tax deduction is transferred to the new holder, and the original investor loses the benefit. The deduction can only be claimed once per investment, and only by the certificate holder as of December 31 of the relevant year.
This clarification is significant for the TMT sector, especially for companies and investors participating in Colombia’s growing audiovisual and creative industries. It provides legal certainty regarding the timing and eligibility for tax deductions, which is crucial for structuring investments and secondary market transactions in film production. The rule prevents multiple deductions for a single investment, ensuring the integrity of the tax incentive system and supporting the sustainable development of the national film industry. For international investors and local producers, understanding these rules is essential to maximize the benefits of investing in Colombian cinema.
Source: DIAN, Official Interpretation ConDIAN00464_2025
Summer 2025 Poised for Post-COVID Box Office Record with Blockbuster Releases
After a challenging start to the year, the global film industry is optimistic about a record-breaking summer box office, fuelled by major releases such as "Superman," "Jurassic World: Rebirth," and new Marvel titles. Industry analysts predict that the summer season could surpass the $4 billion mark in North America, a milestone not seen since the pandemic. The robust line-up includes sequels, new franchises, and a diverse range of genres, which is expected to attract audiences back to cinemas and restore habitual moviegoing. Despite economic uncertainties, experts believe that cinema remains a relatively affordable form of entertainment, making it resilient even in downturns.
For the TMT sector, a strong box office recovery signals renewed confidence in the theatrical distribution model and the continued importance of blockbuster content for studios, exhibitors, and streaming platforms. The success of summer releases may also drive ancillary revenues, boost local economies, and encourage further investment in content production and distribution infrastructure. In Colombia, where the audiovisual sector is closely linked to global trends, a robust box office could stimulate local cinema attendance, support the recovery of independent theatres, and reinforce the country’s role as a destination for international productions. The sector should monitor box office performance and audience preferences to adapt strategies for content creation, distribution, and marketing.
Source: Variety
Mubi Now Worth $1 Billion
Mubi, the independent film streaming platform founded by Efe Cakarel, has recently been valued at $1 billion and is positioning itself as a major player in the global indie film industry. Originating as a niche service for cinephiles, Mubi has evolved into a full-fledged studio, engaging in theatrical distribution, original productions, and international expansion. The company now boasts over 20 million registered users in 190 territories and has achieved notable success with films like "The Substance," which became an Oscar sensation.
Mubi’s strategy focuses on curating director-driven, genre-bending films and building a global community of film enthusiasts. The company is expanding its ecosystem to include publishing, podcasts, and even physical cinemas, aiming to revitalise moviegoing culture. With a new $100 million investment round led by Sequoia and plans for further acquisitions and productions, Mubi is challenging established players like A24 and Neon. Despite industry scepticism about the sustainability of its growth, Mubi’s cautious financial management and commitment to quality content underpin its long-term vision.
Mubi’s rise highlights the growing significance of niche streaming platforms and the shift towards curated, high-quality content in the global media landscape. For the TMT sector, this trend signals increased competition in the streaming market, the importance of brand differentiation, and the potential for new business models that blend digital and physical experiences. In Colombia and Latin America, where streaming adoption is accelerating, Mubi’s approach could inspire local players to explore similar strategies, fostering innovation and diversity in content offerings.
Source: Variety