While there may be turbulent waters ahead, Singapore’s leaders have reason to to believe better days lay ahead

For the most part, the world’s mature economies are looking ahead to the 2020s with some combination of trepidation and cautious optimism.

The issues faced by large mature economies such as the United States and the Eurozone are quite different from those faced by smaller economies, which by necessity must look abroad for human and fiscal capital.

Singapore offers a clear case study in the challenges and opportunities that smaller economies are likely to encounter in the decade ahead. With the caveat that we cannot know for sure what the future may hold, what can this city-state of some 5.6 million souls expect between now and 2030?

Silicon Valley, Straitside?

On an April visit to the United States, Singapore Finance Minister Heng Swee Keat told The Straits Times and other Singapore-based news organizations that fundamental transformation is necessary to maintain the competitiveness of the city-state’s economy in the years to come.

“I think we must position Singapore as a global Asian node of technology innovation and enterprise,” Heng said.

Speaking from Singapore’s Bridge Forum, in San Francisco, Heng nodded to the successes of America’s Silicon Valley, the ideal upon which most global innovation hubs model themselves.

Heng noted that the Valley’s innovators recognize the disruptive potential of technology, marveling at the “speed and scale at which they are taking this challenge very seriously.” To compete, he added, Singapore’s government and business community “must invest a lot of time and resources.”

Diversity as a Strength

Heng also marveled at the diversity of background and thought that characterizes Silicon Valley’s most successful enterprises.

While Singapore is known for a diverse cohort of Asia Pacific based financial services firms and an education system renowned for producing top-shelf finance graduates, Heng indicated that the city-state’s economy has room for improvement. A small city-state, said Heng, must necessarily look beyond its borders for talent.

Also Read: Aiming at deep tech startups, SGInnovate partners with five new co-investors

“That is another major area we need to look at — how we can grow this talent pool,” he remarked.

The Benefits of Limited Bureaucracy

Singapore does have one significant strength: a unified government with minimal bureaucracy and a streamlined framework for making and implementing policy decisions. This is an important contrast with representative governments in larger mature economies (such as the United States and the United Kingdom) as well as emerging economies (such as India).

Singapore’s low-friction government alleviates a perennial concern for central bank directors: keeping monetary policy responsive amid macroeconomic uncertainty.

“If there is a need for us to use counter cyclical monetary and fiscal policy to manage [a global economic slowdown], we will,” Heng told The Straits times.

The Elephants in the Room

However, central bank policy only goes so far. Singaporean decision-makers like Heng watch developments abroad with some trepidation.

A Bloomberg report on an earlier Heng trip makes clear that the ongoing U.S.-China trade dispute is a source of significant concern for Singapore and other ASEAN economies. So too is the Brexit saga, which remains far from resolution.

Reclaiming the Mantle of Globalization

Ultimately, notes Heng in conversation with the South China Morning Post, Singapore is in a strong position to prosper in an increasingly globalized world — provided it can demonstrate its relevance and appeal to a wide range of international businesses, not just the highly regarded finance firms that remain its core strength.

That includes redoubling incentives to attract new investment and prevent high-profile departures, such as the recent closure of an IBM technology plant. That plant’s closure was partially responsible for Singapore’s cratering electronics exports, a worrying sign in a traditionally strong sector.

“We must expect there will be changes in how companies relocate their operations in different parts of the world,” Heng said, according to the South China Morning Post. “For Singapore, as a small open economy, we must be prepared for changes in the global environment,” he added.

A Dash of Optimism, a Pinch of Caution

It’s clear that Singapore’s government and business community will contend with a host of challenges in the years to come.

In some instances, notably the long-running trade dispute between China and the United States, their ability to directly influence outcomes will be limited. Instead, they’ll need to act strategically, with an eye to minimizing collateral damage and finding silver linings in sub-optimal circumstances.

Also Read: An open letter to the Almost But Never Quite There

In other instances, such as talent acquisition and retention, Singaporean leadership will have a far stronger hand. If Heng’s San Francisco comments are any indication, the city-state’s public and private decision-makers understand what needs to be done to shore up its global competitiveness and position its economy for growth in the years and decades ahead.

That’s not to say any of this will be easy. But, at minimum, it’s encouraging that a consensus appears to be forming around a way forward. The same can’t be said for some other mature economies.

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Photo by NICHOLAS LOO on Unsplash

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About three years ago, serial entrepreneur Ahmet Bahadir Ozdemir left his home country Turkey to find a more stable ecosystem that could genuinely support entrepreneurship. His hunt landed him in Singapore, where he decided to set up his third venture.

The startup, Airalo, which intends to disrupt the global telecom industry, has already become a darling of the VCs in town.

Airalo, a combination of the words ‘Air’ and ‘Alo’ (which means ‘hello’ in many parts of the world), is an eSIM store for travellers to access over 100 eSIMs at affordable, local rates. What this essentially means is that if you are on a foreign trip, you no longer need to go through the hassles of buying local physical SIM cards at the airport and installing it, or carry multiple cards — no matter where you are in the world.

“As travellers ourselves, we’ve faced the pains of not finding WiFi or losing the SIM card we carefully taped to the back of our phone and the horror of coming home to an unexpected roaming bill,” Ozdemir tells e27.

“We believe that in the modern world, connectivity and freedom should be accessible to all. Airalo is here to take away the pains and stress of researching and seeking out the best roaming deal,” he explains.

Airalo, incubated at the Antler startup generator in Singapore, was started early this year by Ozdemir and his friend and fellow Turk, Duran Akçaylier.

Also Read: Meet the 8 Southeast Asian startups who will receive US$1-2M each from Sequoia’s Surge programme

With a background in shipping and telecommunications, Ozdemir has in the past built two startups — Wossco, a Foodpanda for ship supplies, and Sim4Crew, a global mobile virtual network operator for sailors. Akçaylier has experience in developing web applications and building and managing development teams in both India and Turkey.

Ozdemir says he was confident of disrupting the telecom industry the moment Airalo was introduced to the market. “I have been in the telecom industry for the last three years and have dealt with physical SIM cards. When we introduced the eSIM technology, it was evident for me that this would disrupt the logistics of SIM cards, similar to how Netflix disrupted CDs and DVDs. We realise the world would need a Netflix for connectivity.”

How it works

Getting and installing an eSIM is simple: go to the Airalo.com site, or download its mobile app (Android and iOS ), choose your travel destination and purchase a local eSIM QR code for that country. Then you scan that QR code using your eSIM-compatible device, and the eSIM gets directly installed to the device.

(As of September 2019, the list of eSIM-compatible devices are iPhone 11, iPhone 11 Pro, iPhone 11 Pro Max, iPhone XS, iPhone XS Max, iPhone XR, Nuu Mobile X5, Google Pixel 3 & 3XL, Google Pixel 4, Windows 10 PCs, Lenovo Yoga 630, HP Spectre Folio, iPad Air (3rd Generation), iPad Pro (3rd Generation), iPad Mini (5th Generation), and Gemini PDA).

To scan the QR code, go to ‘Settings’ of your device, tap ‘Cellular/Mobile’ and ‘Add Cellular/Mobile Plan’. Scan the QR Code and enter the 4-digit confirmation code when prompted.

Now, if you are experiencing issues scanning the QR code or receiving it, you can enter the code manually.

While you can have 15-20 eSIM plans, only one can be activated at a time. Switching between the cards is easy, and you can manage this using your device’s mobile/cellular settings.

At present, Airalo covers over 160 countries, including France, the US, Spain, China, Italy, Turkey, the UK, Germany, Mexico, Thailand, Hong Kong, Greece, Canada, South Korea, Japan, Singapore, and Malaysia. For this, the company has a partnership with as many local telecom operators around the world.

While opportunities are abundant, the startup is facing some challenges as the concept is still nascent. Continues Ozdemir: “The whole thing is very new. Plus, there are currently only 150 million devices in the market that are eSIM-capable. Educating the consumer is another challenge since not many people know that they are holding a magical device that can install a local digital eSIM in a couple of seconds.”

Getting a fresh ‘Surge’

Airalo is among the eight startups selected for the second edition of Surge, a rapid-scale programme launched this year by Sequoia India for early-stage startups in India and Southeast Asia.

Airalo’s journey to Surge was eventful. “After Antler’s Demo Day, we received a significant amount of investment interest from every VC in town. At that time, Sequoia was speaking to the companies from Antler’s cohort. Their analysts met with us, too.

Also Read: How to think and grow rich like Elon Musk

Strangely, we did not hear anything from Sequoia for ten days. I was a bit surprised because our project was attractive to VCs. I had this gut feeling and decided to approach the Sequoia team directly. They invited me to their office. They loved our idea, and we got into Surge in 20 minutes,” Ozdemir recounts the story.

As part of the programme, the startup raised US$1.75 million in seed funding, led by Surge with participation from Antler.

“A big reason for choosing Sequoia was their approach. While most VCs would adopt a structural approach to collaboration, Sequoia would go the extra mile to address our concerns and challenges,” he says. “As a startup founder, I appreciate the extent they would go to help us, including the phone calls at 2 in the morning.”

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Meetings with your employees aren’t an uncommon occurrence. You might call everyone together to discuss important aspects of your business, go over plans, or assign jobs. When was the last time you spent time with your employees one on one, though?

However, it is just as important to have on – on one meeting too and make it a point to have it regularly. Here’s why.

Build better relationships with your employees

Meeting with your employees one on one aids in building a stronger relationship with your team. During your meetings, you get the opportunity to know each of your employees as individuals. While work is an important topic during your meetings, you don’t have to be so formal. You can learn what they’re good at, what they like to do, and what they might not like to do.

Also Read: Google’s best leaders use this simple tool to show care and concern for their employees

A good leader cares about more than just the project at hand. By expressing a genuine interest in each of your employees, you let them know that you truly care. You let them know that you value them and what they have to say.

Improve office productivity

It’s a common misconception that taking the time out of your day to meet with your employees individually is detrimental to your productivity. After all, you have to take each person away from their tasks to speak with them.

The truth, however, is that regular one on one meetings can help to improve the productivity of your team.

By holding these meetings, you don’t have to take the time to hunt down your employees during the workday or send out several emails to get important information. These tasks usually take more time out of your day than having a regular meeting with each of your employees.

Create a routine with your employees

One on one meetings helps to create a routine with your employees where you take the time to discuss updates, employee concerns, updates, obstacles, and more. For the best results, they should be made a regular part of your work routine.

Whether you hold them once a week or once a month, if you hold them in your office or you reserve Los Angeles meeting rooms, regular meetings can boost productivity, morale, and accountability.

Provide and receive feedback

During group meetings, you can give your employees some feedback. However, it’s difficult to address each employee individually during these types of meetings.

Also Read: 6 strategies to give valuable feedback that sticks

At the same time, your employees may not feel comfortable bringing up their concerns in front of others. One on one meetings provides the perfect opportunity for you to talk to each employee.

You can talk about their strengths and weaknesses and provide them with tips on how to improve. It also gives your employees a chance to freely express their concerns. They may also be more likely to share ideas that they might not have felt comfortable sharing in a group meeting.

Reduce employee turnover

There are several reasons why employees leave jobs. Some of these reasons include poor management and a lack of communication. One on one meetings can greatly improve communication between you and your employees.

These meetings also allow you to get to know your employees and allow them to get to know you. As a result, you can help to increase employee engagement and boost morale. You also help to reduce employee turnover. When your employees are loyal, they are much less likely to leave.

Regularly scheduled one on one meetings with your employees is crucial for the success of your business. Choose a frequency that works best for your office. Get yourself in the right mindset.

It can be helpful to keep the meetings informal. When you meet with your employees regularly, you can help to boost morale and improve the productivity of your business. This can make you and your employees happier people.

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Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

Image Credit: The Coach Space

 

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In life, change is inevitable; In business, it is vital.

The arrival of new leadership can be an exciting event for companies and can pave the way for greater success in the team, especially if executed well.

While adopting a team is a tricky ball game; I’ve noticed that changes have always offered new challenges, as well as opportunities, that spark new energy in the members of the team and the organisation at large. When a leader, whether an external hire or an ingrown manager, adopts a team, they will face challenges and hurdles.

Let’s discuss what you can do to make your transition smooth.

The new kid on the block –

You’ve recently joined the company and you are a stranger here. It feels like people are watching your every move, like a predator waiting for you to make one mistake and fall into the trap. Chances are that the team is well acquainted with each other and you feel like a fish out of water. In this scenario, you’ve got to make sure you get off on the right foot. Some of the steps you can take to start are:

1. Get to know them: A common mistake here is spending too much time on getting to know what the previous manager was like and his way of working. Your aim should be to get to know the business and more importantly the people you are working with.

• Start by knowing what they do: Try to understand the scope of each member’s role and responsibility beyond the specifics of their job. How do they fit into the bigger scheme of things?

• What do they like: Take time to determine the satisfaction levels of the team members with their current roles. This can be a great time to change up outdated or unnecessary processes and inefficient work distribution.

• What are their aspirations: Try to assimilate as much information as you can about how they want to grow professionally. Even if they are perfectly happy with their job, this will help you understand how you can further develop them and aid them in taking on new responsibilities.

2. Foster Collaboration: A vital part of making teams work is encouraging them to collaborate. Take some time out to let the team have fun. A team dinner or a simple pizza party in the company garden. We often underestimate the power of a change in the environment. New environments often make us more receptive to other changes.

You can spice up team outings by adding a few elements of fun through some simple games. Here’s a list of a few cool activities you can try at your next team outing. Don’t be afraid to open up a little. A certain amount of vulnerability is appreciated when dealing with new people.

3. Set Clear Goals: It is important to set clear goals and set processes in place to ensure smooth achievement of goals, but don’t make the mistake of trying to change current processes and revamp everything at once.

Instead, try a 30-60-90 day approach for each team member. Don’t forget to take into account their aspirations, the time required to rework old methods and also get acquainted with new responsibilities. This will give them a clear picture of what is expected of them and will make them feel involved. Discuss the 30-60-90 day plan you chalk out for them and modify it to manage expectations and capabilities. You can use this sample template to create plans for your team members

The newly honed diamond –

This breed of a manager is fairly new to the management scene but well acquainted with the company. Familiarity breeds contempt and hence your most important task as a new manager is to –

1. Build credibility: How do you do that?

Step 1: Learn – it is true that knowledge is power, and if a team member feels that their manager is not competent enough, it affects their perception of you.

Step 2: Listen – you will be surprised to know how much you can gain by simply listening to your team members. Have a chat with them, talk them through an overview of the plans you have for the team, share your joy and involve them in the process of you becoming a better leader.

Step 3: Be humble: All that being said a leader must acknowledge his strengths and weaknesses. Never and I mean never take credit away from your subordinates and make it yours. You must take pride in the achievements of your team members but remember to give credit where it’s due and acknowledge the knowledge and efforts of your team members.

Also Read: The 4 principles of hiring an omnipotent founding team for your startup

Step 4: Be genuine: Don’t paint a fake picture in the minds of your team members. Be as transparent as possible while preserving the integrity of your role and the company at large.

2. Set boundaries: You know these guys, they have been your pals you’ve been trained with some of them. Laughed at perverted jokes over a few drinks, had embarrassing moments etc … We’ve all been there, but this needn’t deter you from carrying out your responsibilities.

Now, this can be tricky because you definitely will face pushback. People will try to test your boundaries, miss deadlines, and some may even call your usual behaviour arrogance. All said and done; you are now a leader, act like one.

Don’t avoid social situations; modify your approach a little. Have two drinks instead of a hundred at company social events. Avoid discussing your personal life in too much detail as far as possible.

Adopting a team isn’t a cakewalk. Team dynamics are primarily affected by their leader and every action you take, will determine how accepting the team will be toward your leadership.

I hope you benefit from these pointers and can put them to use.

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Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

Image Credit: Pascal Swier

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Did you know that October 29 is a National Cat Day? If you have a cat at home, it might be a good time to force-hug them and give them a nice treat.

According to an article by KrAsia, a global market research firm Euromonitor shares that the trend of providing a decent life that doesn’t revolve around eating, sleeping, and excreting is called “pet humanisation”. This has caused a spike in startups focussing solely on your pet’s wellbeing, from “social petworking” events, organic food, beverage for pets, to pet insurance.

In Southeast Asia, analyst firm Future Market Insights shares that the pet care market is expected to hit 1.4 billion by 2020, reflecting a compound annual growth rate of 6.8 per cent during the forecast period.

Thanks to Taylor Swift, Cat Day is an inspiration for us to go around Southeast Asia and discover startups that use technology to better provide for furry sons and daughters you have at home. These are some of the gems we found.

Furpal, Singapore

Furpal just got a foothold on Singapore’s increasingly crowded pet-tech market. According to an article by Coconuts, tt matches dog lovers to owners for paid playdates, which is proven to be a hit among pet lovers that don’t have or can’t have pets on their own.

Established by Kylie Teo in July 2019, it allows customers to pay start from US$10 per hour for each visitor to spend time with the chosen dog from the app. It’s like Tinder but instead of a human, we get to a dog for our date, and if that’s not the purest thing in this world, we don’t know what is.

Also Read: Startup in Spotlight: Meet Malaysian subscription box service Pets My Heart

Each dog on the platform gets a description of their character traits, basic info about their owner, and available meeting slots. This way, Teo said, the concept of “marketplace” wouldn’t be limited only for pet adoption, but also for just a casual playdate and pet walkers and sitters.

To ensure safety, Furpal said it has a thorough screening system of every owner as well as in-person temperament assessments of the dogs that tend to be more aggressive by nature. Its community vetting process is also meant to ensure that “borrowers” who book a furry pal are aware of the potential risks of playing with dogs.

Furpal said it aims to educate more owners about the benefits of having their dogs socialise with new people, and to help borrowers learn more about dog care from increased interaction with the canines and their owners.

Pawrus, Singapore

Pawrus’ catchphrase is “pet care, simplified”, and it is exactly what it offers Pawrus was founded in 2014 with a mission to educate pet owners on appropriate pet care.

Kevin Yeo, started Pawrus with Jasline Aiw in 2014, when Yeo couldn’t find what he was looking for in a pet care centre because the staff wasn’t too helpful. Now, as co-founder, Yeo, who’s a professional and certified dog trainer claims the title Chief Trainer, while Aiw focusses on styling and pet grooming as a certified professional pet stylist.

Yeo noted that Pawrus focusses on giving it all to customer experiences, to the point where they would remember the pet’s name. Such committed service is achieved with what Yeo called a well-researched content that ensures a top-notch knowledge of products sold on the platform.

“We don’t just recommend just based on internet knowledge. We consult veterinary books and cross-reference the ingredients used for our pet food to know what kinds of allergies that could come up for each brand,” Yeo said in an interview with Vulcan Post.

Similar pet-focussed e-commerces that are based in the country include PerroMart, Nekojam, MOBY’s Petshop, Kohepets, and Poly Pets.

From Indonesia, Petku is also an online pet-supplies e-commerce.

From Brunei Darussalam, there’s Nimanja, the country’s online pet store, and pet retail chain.

The Grateful Dog

In 2017, besties who grew up loving cats and dogs, Rachel Pereira and Sandee Goh launched The Grateful Dog, out of personal concern for the health of their furkids, Lucy the Boston terrier and Clash the beagle. The two found out about the existing negative effects of highly processed kibble and canned food and began a research journey to find a formula with prepared homemade meals for fur babies, and two years later, The Grateful Dog was born.

Both Pereira and Goh are certified pet food nutrition specialists, and The Grateful Dog offers veterinary-reviewed meals with an organic supplement blend in the AVA-certified kitchen.

Also Read: Meet the 8 Southeast Asian startups who will receive US$1-2M each from Sequoia’s Surge programme

The duo shared with The Straits Times that they kicked off operation with a capital of US$64,000, and has now extended its business to ‘The Grateful Give Back’, a platform for dog lovers to help furkids in need.

Similar pet home-cooked meal delivery services include PetChef, based in Malaysia.

JomPaw, Malaysia

Co-founded by Joanne Lee, Agnez Lim, and Ngan Szu Mun, JomPaw is an online pet lovers community that provides all types of pet services from boarding, walking, training, and even pet taxi.

JomPaw offers a wide range of home-based cage-free services through connecting pet parents with the network of loving and trustworthy pet sitters that provides personalised care 24/7 for pets.

In an interview with First Classe, Lee said: “Our idea stems from our own experience: Sometimes when we send our pets to a boarding service or pet hotel, they come back with ticks.”

Commercial pet services often leave no choice but cage up pets and give not enough attention due to caring for more than one pet. On top of that, not every pet facility can take in less common pets like lizards, snakes, and spiders or pets with specific needs.

To make sure the quality of its service, JomPaw said it will assess the sitters’ experience with pets and the size of their house or car and whenever a request comes in, the matchmaking is being done based on the information provided.

In August 2017, the company participated in the Japan chapter of 500 Startups accelerator, followed by participation in the local WTF Accelerator programme to establish local connections and grow the business.

Similar pet care matchmaking platform that is based in Singapore includes PetBacker, which addresses the trust issues of having a stranger care for your pet using a built-in trust point system for every sitters and walkers profile and a spot check by its team, and soon will as a dog tracking feature that allows app-based pet-tracking.

From Singapore, there’s also Furwy that offers similar services to connect pet owners with pet sitters.

Pets My Heart, Malaysia

Pets My Heart is a Malaysian pet-tech startup that introduces the concept of a monthly subscription box service for pet owners. It was founded by Lam Woon Cherk and a few others to deliver a box of different treats and toys to customers every month.

Pets My Heart curates and customise the content of the box according to the pet that will enjoy the toys and treats. Lam described its business as “an e-commerce store that sells subscription pet gift boxes”.

Each pet gift box by Pets My Heart contains a combination of four to six different treats and toys with different content each month, some of which -the company claimed- cannot be bought from the market.

Pets My Heart aims to pique on the surprise element of not knowing what is in the next box and to help pet owners save time for such things, and save money.

PETOInternational, Indonesia

PETOInternational (PETO) is an Indonesia-based mobile app that offers a range of pet services for a cat, dog, parrot, or hamster. It was first introduced in September 2017 as a “Pet-tinder”, with its main feature PETOdate, a social networking feature to connect pets with their owners in a close community.

PETO was co-founded by CEO Ditya Nandiwardhana and Elmo D. Alfared, who got inspired when encountering difficulties finding a proper medication and partner for Nandiwardhana’s cat.

According to an article in The Jakarta Post, the app offers interactive Hump game that lets pet owners play as their pets and gain points by humping or attacking other pets.

Also Read: 7 startups in Asia pet parents should know

PETO also features Rescue, a feature that allows users to donate and adopt animals, as well as an in-app shop, where users can purchase pet essentials and have them delivered. PETO VETS enables users to locate the closest vet from their area.

PetInsure, Thailand

As the name suggests, PetInsure is a Thailand-based pet insurance startup.

According to Insurance Business Mag, Thailand has a pet industry worth around US$659.5 million, seeking to care for the 9 million pet dogs and cats in the country. Pets are eligible for coverage their entire lives, as long as the policy is renewed.

Its pet insurance packages cover all veterinary bills, including vaccination, treatment for illnesses or accidents, and death. It also offers an in-house veterinary team to provide home-service check-ups for pets.

It won US$6,000 cash prize at the Samart Innovation Award, a competition that aims to strengthen the country’s technology industries.

PetInsure is operating under its parent firm Dong Sung Ki Innovation.

With Singapore leading the region as a country with the most pet-tech operation, Malaysia and Thailand are catching up as the industry has grown into a promising sector. However, frontier markets like Myanmar and Cambodia are yet to welcome pet-tech startup trends.

With more people become more aware of animals’ welfare, including domesticated pets, this list will just keep growing in time to come.
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Photo by BRUNO CERVERA on Unsplash

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Asking which industries are going to be the most impacted by AI in the coming years is like someone in the 80s asking which industries are going to be the most impacted by computer chips and software.

In 1980, it was possible to see that computers were going to revolutionise retail and medicine, but impossible to forecast the advent of Amazon or Taobao.

Predicting the influence that AI will come to possess in the future is harder than ever, due to the exponential nature of change in an era of unprecedented connectivity. The only thing clear is that AI and its associated technologies will continue to advance.

In Southeast Asia alone, the adoption of AI technologies stood at 14 per cent in 2018, a marked increase from the 8 per cent in the previous year.

The use of AI will only increase as organisations turn to it to plug skill gaps created by the digital transformation of traditional industries. This is set against the backdrop of a potential talent deficit of 47 million workers across Asia Pacific by 2030.

As AI becomes mainstream, its capabilities will open up to more general uses — Artificial General Intelligence (AGI). Once this happens, more of our tasks will be performed optimally with regards to efficiency and economically.

Also Read: Need some advice for your startup? Check out these 11 contributor articles

Before we get there, we must acknowledge that generally speaking, AI will not take over the human workforce all at once — it will not instantaneously eliminate jobs or job functions.

Instead, it will start by prompting businesses to reorganise their structures to best leverage the strengths it has to offer. In doing so, pieces of people’s jobs will be reallocated to AI, giving way to the creation of new roles and requiring humans to upskill themselves accordingly.

For instance, AI will first take on more routinised accounting work (such as calculations and backend processes, similar to intelligent adaptive Excel macros) while allowing accountants to handle strategic decision-making and customer interaction. Only with the emergence of AGI over time, will we see AI taking over these roles and by then, only a handful of humans will be needed to oversee the running of an organisation’s entire finance function.

When this happens, we would be living in the reality of the hyper-intelligent workplace, where humans will simply provide critical thinking and rely on the intuitive skillset of AI for increased productivity.

Using the case of biological lab testing as an example, equipment which are mostly already computerised will become more automated and intuitive. Lab robots will then start bridging the gaps between the lab equipment — be it carrying materials from one machine to the other, or keeping each equipment informed about their respective test subjects, parameters and results.

This weeds out the role of a lab technician gradually as it is replaced by an integrated lab robot system that takes verbal instructions directly from the scientist in charge of the lab. Eventually, the scientist’s role will mainly be to rubber-stamp the AI’s suggestions, knowing that what he needs from the AI, has been effectively executed.

Of course, this is not to say that there will be a widespread of automation within all industries. While generic graphic designs can now be done with AI design programs, the conceptualisation of deeply creative new images and visual themes will remain largely in the domain of humans, especially on highly subjective matters which require a highly nuanced understanding of consumer taste and preference.

In general, one may say that among the last job roles to be eliminated will be those relying heavily on novel creativity, strategic decision-making, critical thinking and physical manipulations in life-or-death situations.

Yet, among these roles, the routine and labour-intensive tasks will most likely be automated first as that is where most cost-savings will be obtained. To put into context – there is more money to be saved by autonomous car driving than helicopter piloting, and more to be saved by automating medical research than particle physics research.

In my view, the reduction of the need for humans to work for a living should be massively positive. In an ideal world, that would free up people’s time to pursue more social, artistic, intellectual and spiritual endeavours.

Imagine living in a society where through the work achieved by technology, the psychology of defining one’s importance, status and identity no longer relies on one’s career or income.

Also Read: New developments in fintech are hitting Southeast Asia in waves

While that is almost sure to be a rocky road given the realities of geopolitical issues and income inequality, projects such as the decentralised AI movement led by SingularityNET aims to smoothen the path towards it in a democratic and participatory way.

If a substantial portion of the world’s AI brainpower is running on decentralised networks that are owned and controlled by their participants, it is more likely that the replacement of human labour with AI will unfold in a way that is beneficial for a large percentage of humanity.

When that happens, we know that the AI revolution has reached the point of full success.

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Photo by Thought Catalog on Unsplash

For more on how AI can contribute towards a hyper-intelligent workplace and a possibly post-work society, you can join me on a panel titled ‘Let’s Get Real About the Magic of AI and its Benefits to the Society’ at ConnecTechAsia2019 Summit, Day 1, 18 June at Marina Bay Sands, Singapore.

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Facebook announces that it has partnered with Infocomm Media Development Authority (IMDA) for the second edition of Facebook Accelerator Singapore (previously Startup Station Singapore). The programme will run for six months, looking to support data-driven startups.

By joining the programme, startups will have access to in-person training, mentoring, and an opportunity to network with regional venture capital and investors as an effort to help them grow.

For the second edition, participating startups are required to demonstrate the use of Facebook tools and trends, such as Augmented Reality, Virtual Reality, Messenger, and social commerce. Also, startups that intend to adopt trusted data and AI practices, such as IMDA’s trusted data-sharing framework and/or model AI governance framework would also be considered for the program.

The official statement from the companies states that it aims to continue the support for Singaporean and regional startups to grow and develop a community of innovative businesses.

Virginia Yang, Director of Developer Partnerships and Programs, Facebook APAC said, “We see that the startup community is making the most of building with new technologies. Through this program and with our partners we are proud to continue to support by offering mentorship, design and product deep dives as well as access to the investor community — so that they can build and grow sustainable businesses that can impact our lives and our communities.”

Also Read: Facebook launches “hangout spot” for startup, developer communities in Jakarta

The programme was known as Startup Station Singapore before, and it welcomed 10 startups from the region to participate in a specially designed program that empowered data-driven startups in Asia to accelerate their businesses with values of people’s trust, transparency, and control over their data at the core. Participants also presented at Demo Day back in August 2019.

“IMDA supports Facebook Accelerator Singapore as part of our effort to nurture a vibrant data innovation ecosystem. We are encouraged to see many startups incorporating best practices in the responsible use of data as part of their data-enabled services and applications,” said Yeong Zee Kin, Assistant Chief Executive (Data Innovation and Protection Group) of IMDA.

The second edition of the program is now open to applicants from across the region. The Facebook Accelerator Singapore team will be reaching out to startup communities in Vietnam, Thailand, Indonesia, Singapore, Taiwan, and Malaysia to encourage them to apply to the program.

Applications for startups open 1 November and close on 14 January 2020, powered by Plug and Play, an innovation platform for tech startups around the world.

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Countless people wonder what it takes to be a leading futurist. I have broken down the process into five easy steps.

1. Update your LinkedIn Profile. You may be surprised what a difference that makes. Before you know it you, will be inundated with messages by people seeking your help with the future.

2. Pay a freelancer to make you a nice animated video featuring cyborgs, U.F.O.s and upbeat music. Be sure to include lots of 0s and 1s in the background. Think matrix. A light sabre or two also don’t hurt. But stay clear of the aliens (too 90s).

3. Take a picture of yourself wearing an augmented reality device. You can also use a free stock photo. People don’t need to know how you look. Your job is to focus the eyes of your audience on the future. (Note: the picture above is not me)

4. Watch all the science-fiction movies you can get your hands on. And be sure to tell anyone you meet in future that the future just needs a little imagination (that’s where you come in.)

5. Don’t overdo the technology bit. Talk about grand, heart-wrenching topics like love, world peace and what it means to be human. An odd philosopher’s quote also won’t hurt. As Aristotle put it, …

By the way, that bit about science-fiction may actually work. It apparently did for Arthur C. Clarke, the American science fiction author credited with predicting today’s computers and videoconferencing in 1976. Some other things he got wrong. So perhaps it’s best to stick to the immediate future (aka the second after this.) It’s less exciting, but a lot easier to predict.

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This article originally appeared on LinkedIn

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Livspace, digital home interiors, and renovations platform announced that it has launched its operations in Singapore.

Livspace was founded in 2015 by Ramakant Sharma and Anuj Srivastava, seeking to provide a three-sided marketplace and a design automation platform that connects designers, vendors, and consumers. It is a full-stack service that offers consumers a home decoration and renovation experience from design to installation.

Livspace also has Canvas, its proprietary design-to-installation cloud platform, launched in 2016, that unifies the fragmented ecosystem of home renovations – including homeowners, designers, micro-studios, and vendors.

Livspace uses data science-enabled algorithms to match homeowners with designers based on style preferences, budget, the scope of work and timelines. Homeowners – through the Canvas platform – can see quick mock-ups that give the look-and-feel of their home.

The company then assures the delivery of the project, using technology to make the experience as seamless as possible.

Also Read: Livspace raises US$15M to help you personalise the interior of your home

“Over the next 30 months, we are aiming to build Livspace into a US$500 million business operating across APAC and solving the renovation problem for tens of thousands of homeowners. Singapore marks the first step in our APAC growth and will serve as the headquarters for our global expansion,” said Livspace’s CEO and Co-Founder, Anuj Srivastava.

Ravindran Shanmugam, Country Head of Singapore for Livspace. “We are looking to strengthen our presence in Singapore by injecting US$30 million for our business expansion and to grow our team.”

The company plans to base central teams and over 250 employees in Singapore.

Over the next two years, Livspace said it will onboard thousands of freelance designers, contract manufacturers, OEMs, and brands to build the e-commerce supply chain for the home improvement industry.

Livspace also plans to create an omnichannel experience using AR, VR, and platform-integrated physical design experience centres.

Also Read: Livspace secures US$70M from TPG Growth, Goldman Sachs, Jungle Ventures, others

Livspace has raised over US$103 million in the capital by investors including TPG Growth, Goldman Sachs, Bessemer Venture Partners, Jungle Ventures, Helion Ventures, and UC-RNT.

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Japan’s Paidy gets US$143M in funding – Press Release

Paidy Inc, a Japan-based payment provider offering instantly-issued credit, today announced additional funding worth US$143 million.

The funding consisted of a US$83 million Series C extension from the likes of PayPal Ventures, Soros Capital Management LLC (a Robert Soros Enterprise), JS Capital Management LLC (the family office of Jonathan Soros), Tybourne Capital Management Ltd. and one more undisclosed company. It also included the participation of existing investors such as Eight Roads Ventures.

The remaining of the funding is a US$60 million in debt financing.

In a press statement, Paidy said that it will focus on increasing its customer base to 11,000,000 accounts by the end of 2020. It plans to achieve this by acquiring large-scale merchants and offering additional financial services.

Indonesia to open startup ecosystem hub in Papua – DailySocial

Indonesia’s President Joko Widodo announced the upcoming launch of a startup ecosystem hub in Papua, DailySocial reported.

In a press statement, the president said that the setup of the facility –which will include an incubator and accelerator programme and a dormitory– is aimed to foster tech entrepreneurship in the region.

Set to be built in the city of Kotaraja, the facility will be run by locally owned company PT Papua Muda Inspiratif.

Also Read: Paying online without a credit card? Japanese startup Paidy just raises US$15M to push the effort

Govt officials around the world targeted for hacking through Whatsapp – Reuters

In an exclusive report, Reuters wrote that senior government officials in multiple US-allied countries were targeted earlier this year with hacking software that used WhatsApp to take over users’ phones.

Citing people familiar with the investigation process, the report stated that a “significant” portion of known victims are high-profile government and military officials spread across at least 20 countries on five continents.

It suggested that the hacking could have broad political and diplomatic consequences.

Keyless raised US$2.2M in pre-seed funding – Dealstreet Asia

London- and Singapore-based cybersecurity startup Keyless has raised US$2.2 million in pre-seed funding led by blockchain venture firm gumi Cryptos Capital, Dealstreet Asia wrote.

The funding round also included the participation of Ripple Labs, Blockchain Valley Ventures and LuneX Ventures.

Describing itself as the world’s first distributed biometric authentication and identity management platform, Keyless is in the midst of developing a deep tech solution that aims to tackle cybercrime and make passwords obsolete.

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