How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?

Chiles banking system has proven over the years to be strong and resilient, despite internal political tensions and global factors. In time of instability, clear and straightforward communication between the team is a must. We usually do not have all the answers, but bringing empathy and an honest message within team members is crucial to overcome stress or other particularities of complex moments, understanding that members may face crisis challenges in different ways. Building trust takes time, but when you face crisis, it really pays out, as having confidence between ourselves helps navigate turbulent times together. The stronger the relationship with external counsel, the easier to overcome challenges as well.

What emerging technologies do you see as having the most significant impact on the legal profession in the near future, and how do you stay updated on these developments?

It is relevant to understand Artificial Intelligence (AI) , learn what its components and main characteristics are, and understand that AI does not replace the human mind, and the ability to reason and apply judgments to a particular discussion. Being opened to this type of new technologies, knowing the virtues and defects that it has, looking to seek the greatest possible potential it has, without ever neglecting or failing to recognise that critical thinking, analysis and reasoning require the human mind. As the technology evolves, it is critical to be involved in this first stage of AI, being vigilant to its errors but recognising its potential value.

In your opinion, what are the main trends that are salient in your country currently (these can be legal, political, economy or business-based)?

The constitutional discussion has led the debate in recent years in Chile. There were two plebiscites where most voters rejected the proposals that would replace the current constitution text. There is no doubt that topics such as artificial intelligence, its regulation, effects, benefits, and concerns, are a focus of attention in Chile. In banking matters: open finance and FinTech related matters are being part of the focus where the legal community has a big say in terms of regulations and best practices. On capital market issues, the delivery of timely and transparent information to regulators and the market continues to be relevant. On the legislative discussion, amending the political system has emerged strongly, and pension, health and educational issues remain opened and will be on the fore front over the next couple of years.