In the ever-evolving landscape of the modern world, the race towards automation has picked up pace like never before. The question that stands before us today is not whether automation is coming, but rather, are you leading or lagging in this race?

Automation, once considered a distant dream, has swiftly become a reality that is shaping industries across the globe. From manufacturing and healthcare to finance and customer service, workflow automation makes its presence felt everywhere. But the real game-changer is how individuals and businesses adapt to this paradigm shift.

The race of the century

Imagine a grand race that pits your ability to adapt and innovate against the relentless march of technology. On one side, you have automation armed with efficiency, precision, and tireless endurance. On the other, you stand as a human with your creativity, empathy, and adaptability. It’s a race where the finish line is not a physical point but the future of your career, business, and place in the world.

Leading the pack

Leading in the automation race involves embracing technology as an ally rather than fearing it as a threat. Here are some key ways to ensure you’re at the forefront:

Continuous learning

Automation demands constant upskilling and learning. Whether you’re a business owner or an individual, staying updated with the latest trends and tools is crucial. Consider online courses, workshops, and certifications to keep your skills sharp.

Collaboration with machines

Instead of competing against machines, learn to collaborate with them. Think about how automation can enhance your capabilities. Automation can handle repetitive tasks, allowing you to focus on high-value, creative, and strategic work.

Data-driven decision-making

Automation generates vast amounts of data. Learn to harness this data to make informed decisions. Data-driven insights can provide you with a competitive edge.

Customer-centric approach

Automation can streamline customer interactions, but it’s essential to maintain a human touch. Nurture relationships, understand customer needs, and use automation to enhance customer experiences.

Innovation and creativity

As machines care for routine tasks, humans can devote more time to innovation and creativity. Encourage a culture of innovation in your organisation and tap into your creative potential.

Also Read: Can hyper-personalisation be achieved through automation and AI?

Lagging behind

Falling behind in the automation race can have dire consequences. Here are some signs that you might be lagging:

Resistance to change

Resistance to change is one of the most prominent signs of falling behind in the automation race. This resistance can manifest at both the individual and organisational levels. Individuals unwilling to adapt to new technologies and working methods may struggle to keep up with the demands of the modern workplace. Similarly, organisations that resist automation due to concerns about job security or the perceived complexity of implementation may find themselves at a competitive disadvantage.

Consequences:

• Loss of efficiency: Resistance to automation often means clinging to outdated and inefficient processes. This can result in wasted time, resources, and increased operational costs.
• Missed opportunities: By resisting change, you may miss opportunities to streamline operations, reduce errors, and improve productivity.
• Ineffective resource allocation: Resources that could have been invested in innovation, upskilling, or growth initiatives may be allocated to maintaining outdated systems and processes.

Lack of skills

In the era of automation, skills are currency. Falling behind in acquiring relevant skills can leave individuals and organisations ill-prepared for the challenges of an automated world. This can manifest in several ways:

Consequences:

• Skill gap: Failing to invest in learning and skill development can result in a significant gap between your current skill set and the skills required to thrive in an automated environment.
• Limited career growth: Individuals not updating their skills may find their career growth stunted. They may be passed over for promotions or better job opportunities in favour of those with more relevant skills.
• Competitive disadvantage: Organisations not investing in training and upskilling their workforce may struggle to compete with rivals with a more skilled and adaptable team.

Also Read: How ChatGPT and automation are revolutionising so-called ‘traditional’ industries

Inefficiency

Automation is all about efficiency; those lags often suffer from operational inefficiencies. This could involve a range of issues, including:

Consequences:

• Wasted resources: Manual, repetitive tasks that could be automated lead to wasted time and resources. This inefficiency can impact productivity and profitability.
• Increased errors: Manual processes are prone to errors. Relying on outdated methods can result in costly mistakes, damaging reputation, and the bottom line.
• Inability to scale: Inefficient processes can hinder an organisation’s ability to scale and grow. It becomes challenging to handle increased workloads without incurring higher costs.

Poor customer experience

While automation can enhance customer experiences when implemented correctly, it can have the opposite effect if not handled with care. Those lagging in the automation race may prioritise automation at the expense of human touchpoints, leading to:

Consequences:

• Loss of personalisation: Over-reliance on automation can lead to a loss of personalisation in customer interactions, leaving customers feeling like they are just a number.
• Decreased customer satisfaction: Frustration with automated systems or a lack of human interaction can decrease customer satisfaction and loyalty.
• Missed opportunities for engagement: When used thoughtfully, automation can free up human resources to engage with customers in more meaningful ways. Those lagging may miss out on these opportunities.

Stagnation

In the rapidly evolving landscape of business and technology, standing still is akin to falling behind. Organisations and individuals who do not innovate and adapt risk stagnation.

Consequences:

• Loss of competitiveness: In a dynamic market, more agile and innovative competitors can quickly outpace those who remain stagnant.
• Diminished relevance: Failure to innovate and adapt can lead to a decline in relevance, making it difficult to meet the changing needs of customers and clients.
• Missed growth opportunities: Without a commitment to innovation, you may miss out on new markets, products, or services that could drive growth and success.

The balancing act

Leading in the automation race doesn’t mean replacing humans with machines. It’s about leveraging automation to augment human capabilities.

Automation can handle the mundane, allowing humans to excel in areas that require creativity, critical thinking, and emotional intelligence. Keeping a check on your automation efforts is the only way to succeed in this seemingly bumpy but rewarding route.

The automation race is not a sprint; it’s a marathon. It’s a journey of continuous learning, adaptation, and innovation. Embrace automation as an opportunity, not a threat. Strive to be a leader in this race, for in doing so, you’ll not only secure your place in the future but also shape it for the better.

The choice is yours: lead or lag, but remember, the future belongs to those who keep pace with automation’s relentless march.

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Thai insurtech company Roojai has agreed to acquire motor DirectAsia Group from US-based small business insurer Hiscox for an undisclosed sum.

The transaction is subject to customary conditions and regulatory approvals and is expected to be completed by 2023-end.

Following the acquisition, DirectAsia Thailand will be rebranded into Roojai Thailand, while DirectAsia Singapore will retain its brand.

With this acquisition, Roojai looks to substantially increase its market share with a combined portfolio of over 400,000 vehicles insured in three countries and 300,000 individuals protected with its accident and health insurance products.

Also Read: Thai insurtech firm Roojai bags US$42M in fresh funding

The acquisition will not impact existing policies, claims processes or customer service.

“The consolidation of the two companies into a single group will deliver synergies that will support our further expansion of the Direct Insurance model in Southeast Asia,” said Nicolas Faquet, Founder and Group CEO of Roojai.

Launched in 2016, Roojai sells motor, accident, and health insurance products on a direct-to-consumer model. It will now have operations in Thailand, Singapore, and Indonesia.

The company expanded its business into Indonesia in 2022.

Roojai claims it has 150,000 customers and has grown its premium income by 25 per cent to US$38 million.

In March this year, Roojai secured US$42 million in a financing round led by HDI International, a subsidiary of Germany’s Talanx Group, with participation from existing investor IFC. It previously raised US$20 million from Primary Group, besides a US$7 million Series A round from IFC.

DirectAsia was founded in Singapore in 2010 and launched in Thailand in 2013. Its primary business is motor insurance, which operates through several distribution channels.

In 2022, DirectAsia claims it had gross written premiums of US$52.5 million (under IFRS 4).

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Dear Pro member,

The Indonesian Ministry of Trade’s recent announcement of revised e-commerce regulations has sent ripples through the digital landscape, casting a shadow of uncertainty over the future of TikTok Shop in Indonesia. Trade Minister Zulkifli Hasan’s statement in Jakarta unveiled a one-week grace period for TikTok Shop to either transform into a standalone app or face an imminent shutdown.

The heart of the matter lies in new rules that explicitly forbid social commerce platforms like TikTok from facilitating in-platform transactions and utilizing social media user data for e-commerce endeavours. This regulatory move stems from concerns that TikTok Shop, an integrated feature within the TikTok app, maybe consolidating an unhealthy monopoly in the market.

The Indonesian government’s unease with TikTok isn’t new, with President Jokowi among those voicing criticism. He suggests that platforms like TikTok Shop have played a role in the decline of MSMEs and traditional markets.

TikTok, in response, expresses deep concern about the potential impact on millions of sellers and affiliate creators who rely on TikTok Shop. Launched just over two years ago, TikTok Shop rapidly gained popularity, accounting for a significant portion of the country’s e-commerce landscape.

As Indonesia grapples with the evolving digital commerce landscape, the fate of TikTok Shop remains uncertain, leaving millions of livelihoods hanging in the balance.

Sainul,
Editor.
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SME lender Funding Societies nets US$27M debt funding
The investors include AlteriQ Global, Aument Capital Partners, and Orange Bloom
Funding Societies says it has achieved over US$3.2B in business financing, processing over 5M transactions and serving about 100K SMEs.

Thai insurtech company Roojai acquires DirectAsia from Hiscox
Founded in Singapore in 2010, DirectAsia primarily focuses on motor insurance; Following the deal, DirectAsia Thailand will be rebranded into Roojai Thailand, while DirectAsia Singapore will retain its brand.

Singaporean biotech startup Automera secures US$16M Series A
The investors are ALSP, ClavystBio, EDBI, and Xora Innovation; Automera aims to leverage its understanding of autophagy and generative Al-enabled insights to enhance its drug development programmes.

Malaysia’s national carmakers are joining the EV wagon, but hurdles remain
Malaysia has been ramping up its electric vehicle policies ever since the change of government in 2022; These include the import and manufacturing of EVs below US$21,350, the installation of 10K charging ports by 2025.

Temasek-owned True Light Fund secures US$3.3B to invest in Greater China
True Light was established to broaden Temasek’s reach and provide its partners with investment opportunities in structural trends in China; The fund will invest alongside Temasek in opportunities.

Bright Money rakes in US$62M to help consumers with credit card debt refinancing
The investors include Encina Lender Finance, Alpha Wave, Hummingbird, and PeakXV; Its products also include credit score building, automated debt paydown plans, financial planning, and budget planning tools.

Alibaba logistics unit Cainiao files for HK listing
The company intends to use the net proceeds from the listing to increase its network capacity and coverage, improve its tech, and invest in strategic partnerships and acquisitions.

Ex-Tesla exec’s EV startup charges ahead with US$3M funding
Raptee said it is the first Indian EV startup to opt for the Combined Charging System Type 2 connectors; By integrating both AC and high-power DC charging, the system expedites the charging process.

Indonesia sets one-week deadline for TikTok Shop to become standalone app
The revised e-commerce regulations prohibit social commerce platforms from allowing in-platform transactions and from using social media users’ data for e-commerce purposes.

500 Global backs AI-powered multilingual digital marketing platform NexMind
NexMind’s SEO content generation tools simplify and streamline how brands create multilingual content that ranks on search engines and e-commerce marketplaces.

Malaysia’s on-demand caregiving platform Kiddocare raises funding
The investors include Artem Ventures, Gobi Partners, Asia Fund X, and ScaleUp Malaysia; Kiddocare connects parents with verified childcare providers based on their preferences for time and location.

Gobi, Petronas arm join forces for sustainable innovation in SEA, Greater Bay Area
The Gobi-Petronas MoU includes cross-sharing of deal flow and potential co-investments into promising opportunities in the region.

pitchIN Academy to offer content on alternative financing, investment
pitchIN Academy aims to enhance the communication, education and public awareness outreach of innovative financing and investment in the country.

Binance to sell Russia business to CommEX
Earlier this year, Binance’s VP for Eastern Europe Gleb Kostarev and Vladimir Smerkis ( GM, Russia and CIS) left the company after it hinted at potentially withdrawing its services from Russia due to Western sanctions.

Investors taking 30% of a startup in a round are being short-sighted
Diluting founders too much virtually guarantees that the company won’t yield a significant RoI; If it needs to raise additional funding further down the line, future investors will likely balk at how little ownership is left for the founders.

Southeast Asian Web3 startups shine in 2023: Meet the trailblazers
Southeast Asian Web3 Startups: ZaynFi, Aura Network, DigiFT, Gaspack, Cosmose AI, ONE Championship, and more lead the Web3 revolution in 2023.

SEA’s investors fuel region’s startup ecosystem with strategic investments
Investors such as Petronas and Gobi are fueling the region’s startup ecosystem with strategic investments in sustainability and fintech.

Book Excerpts: How digital goods and services transformed consumer habits in SEA
In its latest e-book, fintech company 2C2P looks at how digital goods and services solutions open new possibilities for businesses.

How BeLive transforms text into shoppable video experiences
BeLive was founded to address the gap in the market for businesses seeking to harness the power of interactive video commerce.

What you can learn about Singapore, Indonesia from this list of top tech startups
As reflected in this list released by LinkedIn, the differences between these two startup ecosystems could not be more obvious.

The fall of multi-billion-dollar unicorns: A warning tale
It is critical for investors, venture capitalists, and people to revisit the stories of failed unicorn ventures to learn their lessons and prevent history from repeating itself.

Meeting the customer where they want to be, in an omnichannel world
Businesses can navigate today’s omni-channel challenges by embracing a customer-centric digital innovation.

In business, stagnation is worse than death
Stagnation is depicted as a threat that can gradually erode creativity, innovation, and overall dynamism.

How to create harmony between work and life as a founder
There are a few things that we need to learn and unlearn if we want to establish harmony between our work and personal life.

Will tech salary overpayments end after the economic crisis?
While tech salary overpayments may have peaked during the crisis, they are unlikely to disappear entirely in its aftermath.

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Marketing, once confined to traditional advertising, has transformed into a dynamic fusion of understanding consumer behaviour, data, and technology. This revolution is fueled by disruptive technologies like Artificial Intelligence (AI) that redefine how businesses engage with their customers.

Flux Series: Marketing Leaders, an initiative led by e27, is set to be the crucible where these groundbreaking concepts come to life. More than just a conference, it offers an immersive experience designed to equip attendees with the strategies and tools needed to drive sustainable growth and profitability for your business.

The importance of roundtable discussions

Roundtable discussions are some of the most conducive platforms for industry leaders and professionals to incubate ideas and ultimately foster growth and innovation across the ecosystem. These intimate gatherings facilitate invaluable exchanges of ideas, insights, and experiences among a diverse group of experts, enabling each participant not only to share best practices but also to learn from each other.

Unlike traditional lectures or presentations, roundtable discussions encourage active participation and collaborative problem-solving. This dynamic interaction empowers participants to tap into a collective pool of knowledge, drawing from each other’s successes and learnings. Through open dialogue, marketing leaders gain fresh perspectives and innovative strategies that may have been overlooked in solitary endeavours. This collaborative ethos not only sparks creativity but also builds a sense of camaraderie, forging lasting professional relationships that extend beyond the confines of the discussion.

Also read: How PriyoShop is revolutionising the B2B procurement process

Moreover, roundtable discussions serve as a platform for addressing industry-specific challenges and emerging trends. In the rapidly evolving landscape of marketing, staying abreast of the latest developments is paramount. These sessions provide an opportunity for professionals to dissect pressing issues, share strategies, and collectively devise forward-thinking solutions.

The diverse array of experiences and perspectives present at a roundtable discussion ensures that the conversation is rich and multifaceted. This breadth of insight allows participants to not only identify potential pitfalls but also capitalise on new opportunities. Ultimately, these exchanges act as incubators for growth, empowering marketing leaders to implement informed, strategic decisions that drive their brands forward in an ever-competitive market.

A focused and guided discussion on marketing

Marketing efforts can be a double-edged sword, with the risk of expenditures not always yielding the desired outcomes. Traditional methods often struggle to provide the precision needed to target the right audience or allocate resources effectively. However, the advent of powerful tools like Artificial Intelligence (AI) has changed the game.

AI’s capability to process vast volumes of data in real-time provides a comprehensive understanding of consumer behaviour, preferences, and demographics. By synthesising this information, businesses can fine-tune their engagement strategies, ensuring they resonate with their target market. This not only enhances customer interactions but also bolsters the overall promotion of one’s business.

Also read: e27’s role in empowering Taiwan startups through the Vision Program

Furthermore, AI’s predictive capabilities are a game-changer for businesses aiming to stay ahead of the curve. By analysing historical data and real-time trends, AI can forecast consumer behaviour and market shifts, providing invaluable insights that enable businesses to adapt their strategies proactively.

While the benefits of integrating AI into marketing efforts are evident, businesses often face a significant hurdle—the knowledge gap. Embracing new marketing technologies requires a shift in skill sets and knowledge within the marketing team. Equipping employees with the proficiency to effectively utilise new tools and systems often necessitates thorough training.

Flux Series addresses this critical knowledge gap, offering a platform for marketers to stay ahead of the curve. Whether it’s decoding the intricacies of AI or understanding the latest trends in marketing technology, Flux Series provides the tools and insights needed to navigate this dynamic terrain.

Actionable insights for growth

Flux Series is a curated, intimate, and focused convergence of top industry leaders designed for active learning sessions. It offers access to in-depth knowledge and actionable insights that can propel sustainable growth and profitability for your brand. This program serves as a dynamic platform for growth-oriented industry leaders to converge, exchange ideas, and explore cutting-edge innovations in key business areas such as marketing, product development, operations, and more.

The inaugural edition of the Flux Series, taking place on November 15 in Jakarta, Indonesia, will bring together key leaders in the world of marketing. They will discuss, ideate, and strategise actionable steps to optimise marketing efforts using AI-driven innovations and technology, with the goal of achieving sustainable growth for your company.

Also read: 5 common challenges marketing professionals face today

Flux Series: Marketing Leaders goes beyond conventional learning environments by providing a curated selection of growth-oriented content stages. These stages serve as dynamic platforms where attendees gain invaluable knowledge on how to leverage disruptive technologies and harness the power of AI to supercharge their marketing efforts. Here, participants get to immerse in active knowledge-sharing guided by industry trailblazers who will be lending their expertise and experiences. From decoding AI-powered tools to unveiling transformative marketing strategies, these content stages are designed to equip marketers with actionable insights that can be seamlessly integrated into their business strategies.

Join Flux Series: Marketing Leaders

For marketing leaders aiming to elevate their company’s marketing goals, Flux Series: Marketing Leaders is a must-attend event. Join us in Jakarta on November 15, 2023, for a day of insightful discussions, interactive workshops, and unparalleled networking opportunities that will reshape the way you approach marketing in the digital age.

Join the Flux Series or become our partner and be a driving force in the AI-powered marketing revolution. To learn more about the event, you may visit the official Flux Series: Marketing Leaders page.

Get ready to embark on a journey that will not only deepen your understanding of AI-driven marketing but also equip you with the actionable insights needed to thrive in the dynamic world of modern marketing.

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At the sixth edition of Unlocking Capital for Sustainability 2023 in Singapore on Thursday, Google Chief Sustainability Officer Kate Brandt spoke about how technology and public-private partnerships can overcome the challenges of energy procurement in Asia.

“Carbon-free energy contracting can be very challenging given the local market dynamics and resource availability in the Asia Pacific region. Transitioning to a carbon-free future will require stronger government policies and partnerships with many organisations, new technologies and structural changes to the broader system that serves the operations in our value chains and those of other companies,” she stressed.

She also spoke about the tech giant’s experience in using AI to help reduce the impact of environmental crises by providing early warnings of natural disasters and improving emergency response times.

“I truly believe that AI can also be a transformational technology that provides compelling as well as helpful benefits to people in society when developed. It can also help accelerate solutions by providing better information, integrated individuals, operational optimization for organisations, and improved prediction and forecasting,” she says.

“For example, in 2022, we launched Flood, which allows local governments and organisations to identify when riverine floods will occur up to seven days in advance, and we’ve been able to use this tool to identify in advance who needs to be warned of the danger and more importantly, where they can go and be safe. We now work with local governments, including in India, Bangladesh, and Sri Lanka, to deliver emergency flood alerts, which are protecting nearly 500 million people living in affected areas.”

Also Read: How Third Derivative assesses the impact of a potential climate tech investment

Google is working with companies like L’Oreal and Pepsi to reduce emissions through carbon footprint tools.

Bringing environment agenda to the board room

Organised by Eco-Business in partnership with the United Nations Environment Programme Finance Initiative (UNEP FI), this annual flagship event on sustainable finance for Asia Pacific brought together high-level decision-makers to discuss and commit to actionable initiatives that can mobilise capital markets for sustainable development.

One session at the event discusses the role of the board of a company in bringing change, starting with bringing in directors who possess the necessary skills to champion sustainable development initiatives, particularly in the areas of ESG and climate governance.

Shai Ganu, Managing Director, Willis Tower Watson, stressed the need for directors to upskill themselves in areas such as climate literacy and human rights.

“Boards make decisions collectively. And the more connected ecosystems are, the better we can learn from each other to make more considered decisions,” he explained.

“Directors need to upskill themselves around issues on our planet with [knowledge of] science, human rights, and the entire spectrum of the ESG. Directors are not supposed to be climate scientists … but you need to be at least climate literate so that you know what questions to ask.”

Also Read: Preference for green jobs is the “most exciting” climate tech development: Lightspeed

Goh Swee Chen, Chairman of the National Arts Council, and former Chairman of Shell Companies in Singapore, reflects on her experience as a director on an energy board.

“Do realise that businesses cannot prosper when communities and society are under severe strain, and we’ve seen that through the COVID-19 pandemic. I find that, in the past, when I was actively employed full-time, crises tended to come one at a time. But I feel like today crises do not take turns; they all lump together.”

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Image Credit: Eco-Business

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