At NamSor, since 2012, we’ve helped countries reconnect with their diaspora, using our advanced AI to recognize personal names with high accuracy, and to produce new disaggregated information that is missing from official statistics (in employment, science & innovation, …) It took us a while to understand the concept of “diaspora”, how diasporas affect foreign direct investment, remittances, brain-gain vs. brain-drain, the travel industry, real estate … Now, we know how to deliver to actionable insights which countries can actually use. We’ve helped Ireland, Lithuania, France, Austria, Mali, Rwanda, Ukraine, Georgia, Armenia -among other countries- reconnect with their diaspora, in specific segments with long term objectives (attract more FDI, build scientific networks, modernize agriculture, transform a particular industry…) It was a long learning process, going to academic conferences, doing consulting projects, making and correcting our human mistakes.
We’ve asked OpenAI ChatGPT, an articifial intelligence, “what is a diaspora”.
Human: What is a diaspora, and why knowing its diaspora is important for a country’s development?
ChatGPT: A diaspora is a group of people who have left their homeland and are living in other parts of the world. The term diaspora is often used to refer to the dispersion of a population of people who share a common cultural, ethnic, or national identity. Knowing the diaspora of a country is important for a number of reasons.
First, diasporas can serve as a valuable source of knowledge and expertise for their home countries. Many people who leave their home countries to live abroad are highly educated and skilled, and they can use their knowledge and expertise to help their home countries develop in various ways. For example, they may provide advice and guidance on issues related to education, healthcare, or business development.
Second, diasporas can serve as a valuable source of financial support for their home countries. Many diaspora members maintain strong ties to their home countries and may be willing to provide financial support to help with development efforts. This support can take various forms, such as financial contributions, investments, or donations of goods and services.
Third, diasporas can serve as a valuable source of social and cultural connections for their home countries. Many diaspora members maintain strong ties to their home countries and may be willing to help facilitate connections with other countries or organizations that can support their home countries’ development efforts. This can be particularly important for smaller or less well-known countries that may not have as many connections with the rest of the world.
Overall, knowing a country’s diaspora is important because diaspora members can provide valuable knowledge, expertise, financial support, and social and cultural connections that can help their home countries develop and succeed.
Human: Why is it so expensive for diaspora members to send money home to their family?
ChatGPT: There are a few reasons why it can be expensive for diaspora members to send money home to their families. One reason is the cost of using money transfer services. These services often charge high fees for transferring money, particularly for international transfers. Another reason is the cost of currency conversion. When sending money internationally, the sender must convert the money from one currency to another, and this process can be costly, especially if the sender is sending a large amount of money. Finally, in some cases, the recipient may also have to pay fees to receive the money, which can add to the overall cost of the transaction.
Overall, the cost of sending money home to family members can be quite high, particularly for diaspora members who are sending money to countries with weaker economies. This can make it challenging for diaspora members to provide financial support to their families, which can be a source of stress and worry for both the sender and the recipient.
Human: Are new entrants going to disrupt the remittance market ?
ChatGPT: It is possible that new entrants could disrupt the remittance market, but it is difficult to say for certain. The remittance market is currently dominated by a small number of large companies, but new technologies and business models have the potential to change the landscape and create opportunities for new entrants.
One potential disruptor in the remittance market is the use of blockchain technology. Blockchain allows for the transfer of digital assets without the need for intermediaries, which could potentially reduce the cost and complexity of sending money internationally. This could make it easier for new companies to enter the market and offer competitive remittance services.
Another potential disruptor is the rise of mobile payments and other digital payment methods. These technologies are becoming increasingly popular and could provide new opportunities for companies to offer remittance services.
Overall, it is difficult to predict exactly how the remittance market will evolve, but new technologies and business models have the potential to disrupt the market and create opportunities for new entrants.
Human: Thank you, ChatGPT, I’m impressed by your knowledge for the subject. If you would like to learn more, here is a selection of diaspora-related articles in our blog:
- Diaspora engagement and the Sustainable Development Goals (SDGs)
- NamSor at UCLA Diaspora Lab Day
- NamSor joins #D4I Data Challenge on Integration of Migrants in Cities
- Playing a foreign investor’s behavioural biases
- Using NationBuilder for Diaspora community outreach
- Diaspora investing for sustainability?
- #GlobalDiasporaDay – looking back at EMM4Dublin and JNDA2016
- Mapping, attracting, engaging Scientific Diasporas
- Kenya #DiasporaConference2015 to discuss Diaspora in business and investment
- Diasporas, a region’s best ambassadors for FDI, Innovation, Tourism
- Place Marketing Forum 2014 – what role for a Diaspora in attracting FDI, Tourism?
- Digital Society Forum – new technologies for connected migrants
- After BusinessFrance, France launches AfricaFrance
Image credits : DALL-E text-to-image AI, prompted with text “Diaspora networks accross the world”.
NamSor™ Applied Onomastics is a European vendor of sociolinguistics software (NamSor sorts names). NamSor mission is to help understand international flows of money, ideas and people. We proudly support Gender Gap Grader.