I have been working for almost two decades and have been leading teams for a little over 10 years, but lately, I constantly find myself grappling with the repercussions of chronic unpunctuality from others. Tight deadlines loom ahead, and the collaborative efforts needed to propel our project forward are consistently hampered by late responses and missed deadlines.

At times, project management has somewhat become synonymous with a Hollywood blockbuster, complete with drama, missed cues, and unexpected plot twists. So, I decided to pause for a moment and share my thoughts on this ticking time bomb of unpunctuality.

The impact of punctuality on professionalism and personal integrity

In a world that thrives on efficiency and productivity, the importance of punctuality cannot be overstated. Whether it’s meeting project deadlines or attending appointments, being consistently late not only reflects poorly on an individual’s professionalism but also unveils deeper character flaws. To borrow a line by Gandalf the Grey, “All we have to decide is what to do with the time that is given to us.”

Punctuality is a tangible manifestation of respect, both for the time of others and for the commitments we make. When deadlines are treated with nonchalance, it sends a message that the person may not value the efforts and schedules of those involved. This lack of consideration can strain professional relationships and damage reputations, creating an atmosphere of frustration and mistrust.

It is even worse when the inability to meet deadlines or be punctual is hindered by empty promises that some might see as habitual lies. Just as habitual lies erode trust and credibility, consistently failing to commit to your promise punctually paints a picture of unreliability and disregard for commitments.

Also Read: The infinite game of leverage: A startup’s guide to time affluence and productivity

Furthermore, chronic tardiness reveals a significant flaw in time management skills. In a world where time is a finite and precious resource, individuals who habitually miss deadlines or appointments showcase an inability to prioritise and organise their responsibilities. This lack of organisational prowess not only jeopardises the success of projects but also suggests a potential for chaos in the workplace.

Beyond professional settings, habitual unpunctuality speaks volumes about an individual’s character. It suggests a disregard for commitments, a lack of discipline, and an overall indifference to the impact one’s actions may have on others.

The societal impact

Punctuality is a cornerstone of personal integrity, and consistently failing to meet deadlines or appointments erodes that foundation. To quote another cinematic gem, “Here’s looking at you, kid – consistently missing the mark can turn you into the antagonist of your own story.”

In a broader sense, society is built on the understanding that individuals will fulfil their promises and meet their obligations in a timely manner. When this expectation is consistently unmet, it erodes the very fabric of social interactions.

People who are habitually late may find themselves excluded from opportunities, both personally and professionally, as others may be hesitant to rely on someone who has proven to be unreliable.

The negative ramifications of habitual tardiness extend far beyond the inconvenience of a delayed meeting or missed deadline. Punctuality is a reflection of one’s respect for others, their commitment to professionalism, and their ability to manage time effectively.

Consistently failing to be punctual not only damages relationships but also exposes fundamental flaws in an individual’s character and organisational skills. It’s a small yet powerful aspect of life that speaks volumes about who we are and how we navigate the world around us.

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Singapore-headquartered insurtech company Igloo has announced closing its US$36 million pre-Series C funding round led by global investment firm Eurazeo, with participation from Openspace Ventures and existing investor La Maison.

According to the company, the latest round was closed at a 50 per cent valuation increase from its Series B+ round in 2022, which was led by BlueOrchard-managed InsuResilience Investment Fund II.

Also Read: ‘Microinsurance will play a pivotal role in accelerating financial inclusion in SEA’: Raunak Mehta of Igloo

The insurtech company has raised US$100 million since its inception.

The new capital will be used for horizontal and vertical M&A opportunities. It will also increase its workforce by 20 per cent across engineering, commercial, strategy and insurance-focused verticals.

Additionally, Igloo looks to double down on motor, health, climate-related products, underwriting and claims digitisation and AI and blockchain technologies.

Incorporated in 2016 by Wei Zhu (ex-CTO of Grab), Igloo leverages big data, real-time risk assessment, and automated claims management to create B2B2C insurance solutions for platforms and insurance companies. It primarily targets the gig economy by providing “comprehensive and competitively-priced” insurance for delivery riders through its Foodpanda partnerships in Thailand, Singapore, and the Philippines, as well as Lozi and Ahamove in Vietnam.

Also Read: Igloo scores US$27M more to extend Series B financing round to US$46M

Igloo claims to have facilitated over 500 million policies and aims to double its Gross Written Premium (GWP). As of today, it has also established over 75 partnerships across six countries, expanding its product offerings to cover consumer finance, e-commerce, and logistics.

The firm is on track to double its 2022 GWP.

The company is set to be profitable in 2024, it said in a statement.

In 2022, it launched Ignite by Igloo, a digital platform that enhances the productivity of sales intermediaries in Vietnam and Indonesia. It works with 22,000 sales intermediaries and agent partners and aims to close 2023 with 50,000 agents as it expands into other markets.

The company has rolled out a blockchain-based parametric farmer insurance. The Weather Index Insurance has drawn interest from partners in Vietnam and across Southeast Asia. Thousands of farmers have adopted this product since its launch in November 2022. It covers 20,000 hectares of coffee and padi farms.

“The insurance market in Southeast Asia is still very underpenetrated, and we believe Igloo is in a strong position to help solve this by making insurance more easily accessible and understandable for consumers,” shared Albert Shyy, Managing Director, Eurazeo.

Eurazeo Managing Partner (Venture) Matthieu Baret said: “With our investments in China, Indonesia, India, and Singapore, we’re extending our footprint with the ambition to become a leading player in Asia.”

Also Read: Igloo closes US$19M Series B, promotes Raunak Mehta as Co-Founder and CEO

Asia’s insurance market is brimming with untapped potential, especially in emerging economies like Indonesia, Vietnam, and the Philippines.

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The Biodiversity Accelerator+, run by Singapore-based family office Silverstrand Capital, unveiled the five impact startups demonstrated in the Demo Day held at COP28 in Dubai on December 1.

The startups span various sectors, including commodity supply chains, infrastructure, the financial industry, and the carbon space.

The Demo Day marked the culmination of the five companies’ participation in a three-month capacity-building programme hosted by impact investor Silverstrand Capital.

Also Read: This family office has launched a startup accelerator with a mission to protect, restore biodiversity in SEA

The five startups are:

Bioverse: It uses technology to unlock the economic value of intact forests by generating forest inventories that locate non-timber forest products, predict their yields and deliver information that helps local communities coordinate with their supply chains.

Blue Sky Analytics: It provides extensive climate intelligence by refining and modelling satellite data and delivering real-time output to support a variety of use cases like risk assessment, MRV and carbon verification, amongst others.

Guardians of Earth: Harnessing the power of everyday citizens and consensus-based verification, the startup has built games-based systems to connect the public with nature while collecting asset-level biodiversity data.

Nika.eco: Its user-centric workspace utilizes AI and remote sensing to perform pre-feasibility studies for carbon financiers and project developers at a rate 4x faster than the industry average.

Xylo System: Its cloud-based data and AI platform provides simplified and actionable insights on nature gathered from an extensive network of verified data points for the property and energy sector.

At the end of the session, Silverstrand Capital announced US$250,000 investments each into Nika.eco and Xylo Systems.

Also Read: Meet the new Biodiversity Accelerator+ startups set to champion conservation and sustainability

The UBS Optimus Foundation will also award a cash prize to Biodiversity Accelerator+ cohort company EarthAcre for its innovative work, which focuses on measuring and monetizing biodiversity outcomes.

Silverstrand Capital is a Singapore-based investment firm with an impact investment mandate to catalyze biodiversity-positive impact. Its mission is to accelerate the widescale restoration and conservation of ecological health and biodiversity on land and sea. Its global portfolio of startups and funds spans various sectors, including regenerative agriculture, sustainable aquaculture, and nature-based solutions.

The Biodiversity Accelerator+ is a three-month hybrid programme designed to scale businesses, creating a biodiversity-positive impact. It is a philanthropic initiative of Silverstrand Capital.

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Despite having been around for a while, the popularity of artificial intelligence (AI) took off significantly in 2023. We can even say that this is the year of the technology as tools such as ChatGPT becomes a big hit, allowing the general public to experiment with the technology and see it how can impact their life.

According to Bee Kheng Tay, President of Cisco ASEAN, this momentum will only continue to gather pace in the new year.

“Undoubtedly, advancements in AI have shaped 2023. The past decade saw the breadth of AI use cases growing by the day. They were real but largely unseen. However, the public availability of generative AI tools has brought greater attention to the new possibilities of AI, which will only continue to gather pace in the new year,” she writes in a commentary.

“In 2024, businesses in ASEAN will have to grapple with how they can weave AI into their organisations effectively, whilst taking advantage of other emerging trends impacting the business landscape.”

According to the preident, there are two points that stand out in 2024, starting with how AI will experience a shift from a “nice-to-have” to “must-have”. However, despite this urgency, there remains a “significant gap” across crucial business pillars from infrastructure to culture.

Also Read: How Transparently.AI uses Artificial Intelligence to detect accounting manipulation, fraud

“The AI industry is projected to grow exponentially, from US$95.06 billion to US$1.8 trillion by 2030, making it a cornerstone of the global economy in the coming decade. However, Cisco’s inaugural AI Readiness Index reveals a stark reality – only 18 per cent of organisations in ASEAN are fully prepared to deploy and leverage AI. Moreover, 68 per cent express severe concerns about the potential impact on their businesses if they fail to act within the next 12 months,” Tay says.

She further elaborates that while 97 per cent of organisations report having a robust AI strategy or are in the process of developing one, challenges remain in areas such as ensuring data is AI-ready and cultivating a talent pipeline equipped for the AI revolution.

“As the new year ushers in the next waves of AI, ASEAN companies must grapple with addressing AI comprehensively across their organisations, considering not only the technological aspects but also the human factor.”

On being responsible

To follow up on the idea that AI is becoming more integral part of business operations in SEA, Tay stresses that a movement towards responsible and ethical AI is gaining momentum.

“Governance, underpinned by trust and transparency, is at the forefront of this movement. While the transformative benefits of AI are evident, navigating its adoption comes with inherent risks. Organisations need a robust framework of policies and protocols to guide the ethical and responsible management of data and AI systems,” she says.

“In ASEAN, the need for enhanced AI governance is evident. Only 36 per cent of organisations claim to have highly comprehensive AI policies and protocols in place, and a concerning 21 per cent lack systematic mechanisms to detect data biases. Recognising the evolving regulatory landscape, companies must stay updated on local and international regulations. Implementing internal policies that address data privacy, security, and the ethical use of AI technology is imperative. This includes embedding security, privacy, and trust by design processes throughout the innovation lifecycle of AI applications.”

In conclusion, 2024 is poised to be a crucial year for SEA businesses as they navigate the evolving landscape of AI. The shift from AI being a “nice-to-have” to a “must-have” technology brings both challenges and opportunities. Organisations must bridge the gaps in their AI readiness and embrace responsible AI practices to thrive in the era of AI-driven innovation.

As the AI revolution continues, the synergy between technology and human readiness will be the key to unlocking the full potential of artificial intelligence in the ASEAN region.

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Image Credit: RunwayML

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Malaysia-based sustainability and agritech startup Qarbotech has raised US$700,000 in seed funding and grants.

The round was led by 500 Global and includes innovation grants from the Temasek Foundation for winning the Climate Impact Innovations Challenge 2023 and Khazanah Nasional’s Dana Impak for winning the Khazanah Impact Innovation Challenge (KIIC) 2023.

Also Read: How Koina uplifts lives of Vietnamese farmers through its data-driven agritech platform

Qarbotech has developed QarboGrow, a photosynthesis enhancement technology. The patented nanotechnology is an on-plant or in-soil solution that boosts agricultural productivity, increasing crop yields by up to 60 per cent. Its unique formulation contains biocompatible organic compounds with properties similar to chlorophyll, thus expanding the photosynthesis rate of leafy plants.

Farmers and growers of all sizes can enhance crop yield by optimising photosynthetic efficiency and shortening growth cycles.

Headquartered in Kuala Lumpur, the firm serves customers in Malaysia, Indonesia, and other Southeast Asian countries.

Qarbotech will invest the capital in R&D and expand its manufacturing facility to produce up to 50x its current capacity to serve farmers and growers in new Southeast Asian markets.

“Agriculture is an industry that’s ripe for investments. When we have the privilege to meet a team that’s catalysing a step change for farmers, we back them. Qarbotech’s technology has exciting potential to solve the global food security challenge of the world’s growing population, of which about 30 per cent do not have food security. We believe that when Qarbotech wins, these 2.3 billion people win too,” shared Khailee Ng, Managing Partner, 500 Global.

Also Read: The opportunities and challenges Singapore’s agritech sector faces

The population in Southeast Asia is estimated to grow by 12 per cent, from 670 million in 2020 to 750 million by 2035. This population surge and climate volatility are expected to drive a 40 per cent increase in food demand by 2050.

Limited agricultural resources, widespread land degradation, and diminishing arable land caused by urbanisation and industrialisation in the region threaten food production. Qarbotech’s technology is essential for farmers to grow more with less arable land.

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