In the dynamic landscape of the e27 community, diverse voices contribute to shaping the discourse on emerging technologies and innovation. As we showcase the top 10 contributors, their insights cover a range of industries, displaying the diverse ideas within the community.

Kailash Madan

Madan serves as the Global Head of Sales at Primer. With extensive experience facilitating streamlined and integrated commerce for traditional and internet-first enterprises in the Asia Pacific region, he shares insights across e-commerce, fintech, digital payments, and beyond.

“The payments industry has witnessed transformative growth through 2023, and we should expect it to continue to move towards more open and scalable models as businesses demand greater flexibility in their payments stack and consumer experience. We will see even more collaboration across infrastructures, providers, merchants, and systems.

We will also see the continued expansion of AI applications in payments, as well as the continued growth of embedded payments and the rise of contextual commerce, as e-commerce becomes an activity that people want to have at their fingertips, embedded into their everyday activities. The importance of payments will continue to be recognised across businesses, as all business functions — from marketing to engineering and finance — recognise payments as an opportunity to grow the business and build customer loyalty.”

Luke Fitzpatrick

Fitzpatrick, a contributor since 2018, has authored seven articles this year. With 45,000 content views in total, his writing primarily focuses on emerging tech and Web3. He is a guest lecturer at Sydney University, lecturing in cross-cultural management and the Pre-MBA Programme.

Pierrick Bouffaron

As a CXO and financier, Bouffaron has been operating at the tech-innovation interface across the US, Europe, and Asia Pacific since the 2010s. Presently the Director of Development and New Ventures at the National University of Singapore (NUS), his focus areas encompass education, energy and climate, fintech and crypto, and economics.

This year, he has published four articles and allocated considerable time to aiding early-stage tech founders where feasible.

Also Read: Navigating the AI landscape in 2024: Why there is an urgency for enhanced governance

Antoine Martin

Martin is a business coach and entrepreneur who co-founded Impactified, an online coaching and self-coaching platform. He is known for assisting entrepreneurs in developing improved business models, focusing on creating a meaningful impact.

“As far as I’m concerned and based on what I see, a key trend shaping the tech world in the coming year(s) will be the humanisation of the user experience beyond just tech. Companies I work with are shifting their pitches from pure tech to experience because selling tech does not create value for the consumers.

Take OpenAI, for instance — the massive success of ChatGPT does not just come from their AI capacity-building. It comes from their talent in making the AI experience palpable and approachable for people. Look also at crypto, ICO, and NFT trends over the past years- they all went up quickly, but they were also replaced by other trends very rapidly because normal people could not interact; hence, they turned into buzzwords.

Said differently, the stake for tech businesses in the next year will be to scale their business models and organisations outside of AI and tech buzzwords by creating real value propositions people can recognise (and buy!) because they can experience them. Those who can do that will be different!”

Nick Abbatiello

As a Senior Distinguished Engineer at Dell Technologies, Abbatiello focuses on implementing solutions for Dell’s 2030 sustainability goals, particularly in the Circular Economy. Passionate about advancing sustainability in material and process development, he wrote an article for our Contributor Programme, highlighting the impact of sustainable design on tackling e-waste through responsible product lifecycles and recycling for a greener future.

Velid Begovic

Begovic serves as the Vice President of Revenue APAC at Infobip and aims to steer Infobip’s business teams toward constructing a diverse range of customer experiences and engagements across the APAC region. This year, he extensively explored the potential of conversational commerce in the Asia Pacific region through his articles.

Bernadetta Septarini

Septarini is the Content and Social Media Marketer at ArmourZero, a B2B SaaS company. She loves creating creative and analytical content while gaining cybersecurity experience and always looks for new ways to grow and improve.

“As AI gets sharper, so do cyber threats. Get ready! Using AI isn’t a choice — it’s a game-changer. Success is in mixing machine smarts with human creativity, making a powerful team against tricky digital bad guys.”

Also Read: Startups in SEA secure millions in funding this week, redefining industries

David Isaac Mathews

Mathews is currently involved in the digital transformation of innovation and corporate venture building at Causality Co, a group of businesses specialising in building and launching digital ventures, as well as providing pre-testing services for product-market fit.

“Companies are facing a pivotal decision in their growth strategies. There will be pressure on more deeply defining positioning and value for more segmented audiences to achieve more cost-effective growth when balancing between product-led and sales-led approaches. This is particularly true for companies outside their industry’s top 20 per cent.

To be competitive, the design of more finely-tuned customer experiences will require this more explicit strategy and positioning to optimise product development investment and go-to-market investment. The goal should be improving at the end of the funnel to improve retention for better customer lifetime value. This will require deeper alignment and real-time data-guided collaboration between the Chief Marketing Officer and Chief Product Officer to execute the strategy set by the C-Suite.

Both roles must align on where the most significant marginal impact will come from across:

• Product journey
• Marketing funnel
• Sales motion.

Ultimately, companies that can effectively define and execute this shared strategy will be better positioned to grow market share more reliably.”

Henry Ly

Ly, CTO and Co-Founder at Adamo Software, believes in technology’s pivotal role in shaping the future. With extensive experience in project and strategic management, he aspires to contribute to products that enhance lives, having been fortunate to be part of ventures in environmental improvement, e-commerce, travel and hospitality.

Yiqing Wang

Wang, the Program Associate at StartupX, is dedicated to exploring and promoting ideas in the business world, with a particular focus on sustainability, startups, and technology. She authored a three-part article series titled Life in Plastic, it’s not Fantastic, delving into the causes and solutions for a sustainable green future.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

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China’s entertainment giant TikTok is set to invest US$1.5 billion to secure a controlling stake in Tokopedia, the e-commerce arm of Indonesia’s GoTo Group.

Under the terms of the agreement, TikTok will acquire a 75.01 per cent stake in Tokopedia, Indonesia’s largest e-commerce platform, for US$840 million. Additionally, TikTok Shop’s Indonesian operations will be integrated into the expanded Tokopedia unit.

This move comes as TikTok aims to revive its online shopping services, which were halted by regulators in Indonesia following a ban on social media-based online shopping to safeguard smaller merchants and user data.

Also Read: Merchants selling via TikTok could be harming Indonesian economy: AC Ventures

The Chinese tech giant’s problems started when President Joko Widodo called for stricter social media regulations in October this year, saying that the influx of such platforms has contributed to declining domestic business sales by flooding the market with foreign imports. Trade Minister Zulkifli Hasan also said firms that do not comply with the ban on goods transactions would first be warned and then lose their license to operate in Indonesia if they fail to comply.

Following the ban, TikTok was compelled to shut down the e-commerce platform. Despite challenges, TikTok Shop had been introduced earlier in the year in the country, targeting the vast user base to compete with rapidly growing online retailers like Shein and PDD Holdings’ Temu, whose presence on TikTok had contributed to their swift expansion.

In a joint statement, the two companies outlined that the strategic partnership would initiate a pilot period, conducted in close consultation with and supervision by relevant regulators. The move reflects TikTok’s strategic manoeuvring to navigate regulatory challenges and reestablish its foothold in the Indonesian e-commerce landscape.

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In the dynamic landscape of digital finance, audax stands out as a B2B platform with a mission to empower banks and financial institutions in their digital transformation journey.

At the heart of its offering are two pivotal use cases: digital banking and banking-as-a-service (BaaS).

“In recent years, it’s only become more evident than ever that digital transformation is no longer a luxury for traditional institutions. Today, banks are no longer competing against fellow financial institutions but also challenger banks, neobanks, and fintech [companies] in verticals spanning e-wallets to digital payments. In many ways, everyone is now playing in the same digital financial services sandbox,” explains audax CEO Kelvin Tan in an email interview with e27.

What sets audax apart is the provision of a comprehensive plug-and-play digital platform, offering a full retail digital banking stack. This all-encompassing solution covers front-end channels, security, identity management, and back-end reporting functionalities, presenting a breadth unmatched by competitors. Its key differentiating attributes lie in the comprehensiveness of its platform, allowing clients to swiftly go to market without piecing together various solutions.

The team behind audax distinguishes itself not only by technical expertise but also by leadership with a track record of implementing a functional BaaS business model. This wealth of experience positions audax to guide customers in exploring Embedded Finance (EmFi) for exponential growth in the digital age.

Also Read: Gen AI in banking: How to ensure a successful transformation for an age-old industry

audax’s roots trace back to the conceptualisation of Standard Chartered nexus (SC nexus), a white-label plug-and-play BaaS offering. The idea originated from the need for traditional banks to grow their retail and SME segments without significant upfront investments.

Developed within the bank’s ecosystem with the support of SC Ventures, SC nexus eventually became the earliest global bank to provide BaaS in Asia. As the landscape evolves, audax emerges as a solution that offers a plug-and-play infrastructure to modernise tech stacks without incurring technical debt or costly overhauls, all while ensuring compliance by design.

Empowering banks into a new era

When asked about their customer acquisition strategy, Tan answers that the company uses a multifaceted one, built on a nuanced approach that combines strategic relationship-building with an in-depth understanding of the traditional finance landscape.

“A crucial element of our strategy lies in the successful collaboration with institutions like Standard Chartered, showcasing our proven track record and providing a solid reference for incumbent banks considering investments in digital solutions. These successes demonstrate our capabilities and establish a solid foundation for incumbent banks considering investments in digital banking technologies,” he says.

audax also tries to proactively harness strategic partnerships with complementary organisations to extend its reach.

“We also understand the importance of offering a comprehensive solution to our clients by collaborating with complementary solution providers to present a holistic solution. This strengthens our value proposition and positions us as a trusted and versatile partner in the eyes of financial institutions seeking a more comprehensive approach to digital transformation. Working closely with these experienced partners ensures a more streamlined and effective user acquisition process, facilitating connections with a broader network of institutions eager to embrace technological advancements in banking,” Tan explains.

Also Read: Digital banking in Indonesia: Growing importance and future trends

What important lesson can audax share about its target audience today? Tan explains that in the current financial landscape, banks are grappling with a confluence of pressures and motivations that underscore the urgency of incorporating BaaS into their digital transformation strategy. This is a situation where both banks and fintech companies play a role.

“For traditional banks, the prospect of an estimated US$1.3 trillion global banking revenue growth between 2021 and 2025 is a compelling motivator. However, achieving this growth requires a strategic response to the changing dynamics of customer expectations. There is a palpable shift in customer demands, with an increasing appetite for seamless, digital-first experiences. This change in mindset is further underscored by the evolving role of fintechs,” he says.

“Initially disruptors that posed a threat to traditional banking models, fintechs have transformed into enablers. Rather than eating into banks’ market share, fintech companies are now sought after as partners or acquisition targets by banks looking to expand their offerings and enter new markets. Banks are also navigating the challenges the demand for rapid technological innovation poses. The need for tech and core modernisation has become imperative.”

This is especially true as bank customers are becoming more demanding, and fintech companies have found themselves reliant on BaaS as the only means to offer customers EmFi.

“With a myriad of fintechs emerging, these entities require banking partners to facilitate access to essential services such as bank accounts, payments, and lending. Notably, the regulatory barriers to becoming full-fledged banks are high, making collaboration with traditional banks a strategic necessity for fintechs.”

Coming up next

In a strategic move that underscores audax’s commitment to growth and innovation, the company, incubated within Standard Chartered Bank’s ecosystem via SC Ventures, is gearing up for substantial expansion in 2024.

Also Read: Banks must solve their core banking conundrum – or fail

With Standard Chartered Bank serving as an investor, audax is poised to embark on subsequent funding rounds to refine its existing tech stack, enter new markets, and tap into diverse client segments. The company, which has approximately 180 employees worldwide, particularly targets Southeast Asia (SEA) and Middle East regions for increased presence and talent acquisition.

audax has already made significant strides in powering Standard Chartered’s successful BaaS partnerships, notably with Indonesian e-commerce giants such as Bukalapak and Sociolla.

In 2024, audax aims to begin the introduction of a public sandbox environment for controlled exploration and experimentation. It also aims to streamline reporting processes and expand offerings, such as seamless integration with third-party card processors.

“This adaptability ensures a wide-reaching applicability across diverse banking infrastructures.”

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Image Credit: audax

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Dear reader,

Igloo’s recent closing of a US$36 million pre-Series C funding round, led by Eurazeo and joined by Openspace Ventures and La Maison, underscores its solid position in the insurtech landscape. The 50% valuation increase from its 2022 Series B+ round highlights investor confidence in the Singapore-based company, which has amassed US$100 million in funding since its 2016 inception.

This substantial capital injection is earmarked for strategic initiatives, including horizontal and vertical mergers and acquisitions and a 20% workforce expansion across key sectors. Igloo’s commitment to diversification is evident, with plans to reinforce its presence in motor, health, and climate-related products and advancements in underwriting, claims digitization, AI, and blockchain technologies.

Founded by ex-CTO of Grab, Wei Zhu, Igloo has successfully carved a niche in the gig economy, providing comprehensive and competitively-priced insurance for delivery riders through partnerships with Foodpanda, Lozi, and Ahamove across multiple Southeast Asian countries. Igloo is poised for substantial growth with over 500 million facilitated policies, 75 partnerships, and an ambitious goal to double its Gross Written Premium.

The company’s focus on profitability by 2024, digital platform Ignite, and the innovative blockchain-based parametric farmer insurance targeting Southeast Asian agriculture exemplifies Igloo’s commitment to addressing underpenetration in the region’s insurance market. With Eurazeo’s support, Igloo aims to extend its influence across Asia, tapping into the vast potential of emerging economies like Indonesia, Vietnam, and the Philippines.

Sainul,
Editor.

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Igloo nets US$36M in pre-Series C round, eyes profitability in 2024
The investors are Eurazeo, Openspace Ventures, and La Maison; The insurtech startup will use the money for M&As, doubling down on underwriting and claims digitisation and AI and blockchain technologies.

Philippines regulators move to block access to Binance platform
Binance’s operator isn’t a registered corporation in the Philippines, and the world’s largest crypto trading platform is not authorized to sell securities in the country, SEC said in a Nov. 28 advisory released by the regulator on Wednesday.

Indonesia’s construction-tech startup Gravel secures US$14M
The investors include New Enterprise Associates, SMDV, and East Ventures; Gravel assists in building, renovating, and repairing spaces by connecting customers to workers, tools, materials, and experts using tech.

Biodiversity Accelerator+ unveils 5 impact startups at COP28 in Dubai
The startups are Bioverse, Blue Sky Analytics, Guardians of Earth, Nika.eco, and Xylo Systems; Nika.eco and Xylo have also received US$250,000 investments each from Silverstrand Capital.

Qarbotech raises US$700K for its nanotech solution for farmers
The investment includes funding from 500 Global and innovation grants from the Temasek Foundation; The agritech startup claims its on-plant or in-soil solution boosts agricultural productivity, increasing crop yields by up to 60%.

Is GameFi dead? 3 in 4 projects have failed
Around 2,127 web3 games have failed in the last five years since the GameFi niche emerged, representing 75.5% of the 2,817 web3 games launched; The annual number of dead web3 games more than doubled in 2022, reaching a record yearly high of 742.

OpenAI’s GPT Store delayed to 2024 following leadership chaos
The launch of the store this month raised eyebrows when it was officially announced at OpenAI’s Dev Day conference in November; Though there was a working mockup of the store itself and a few of the fine-tuned models called GPTs available to inspect, there were a lot of unanswered questions.

Bitcoin tops US$40K for first time since May 2022 as momentum builds
The world’s biggest cryptocurrency hit as high as $41,748 on Monday, its highest since April 2022, seemingly casting off the funk that had settled over crypto markets following the collapse of FTX and other crypto-business failures last year.

Sam Altman reveals why he was fired, then re-hired as OpenAI CEO
He revealed that he was “hurt and angry” but ultimately decided to accept the position of the CEO once again; Sam Altman revealed in the interview that when he first received the offer to be the CEO of OpenAI once again, it “took him a while to get over the ego and emotions”.

US Federal judge blocks Montana’s TikTok ban
The ByteDance-owned video platform filed a federal lawsuit against Montana in May, claiming the law “unlawfully abridges one of the core freedoms guaranteed by the First Amendment,” days after the state passed a law to ban the widely popular app across the state.

Cristiano Ronaldo faces US$1B lawsuit over Binance ads
A lawsuit, filed in a US district court in Florida, contends that the former Manchester United and Real Madrid stars “promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in coordination with Binance.”

JPMorgan analysts cautious amid DeFi and NFT resurgence signals
The report notes a notable revival in NFT sales volume and increased total value locked in DeFi after nearly two years of a downturn. Despite these positive signals, the analysts emphasize that these are initial signs of revival and should be cautiously approached.

NFT: Bubble burst for now, but is there a future?
The digital assets, which were a pandemic curiosity, experienced a massive rise in value before a huge crash.

What the SEA startup ecosystem needs to know about COP28
Regardless of where the hurdle is, this COP28 has to be the turning point to refocus the direction and work towards results.

Does Microsoft have too much control over OpenAI?
Microsoft’s involvement in the OpenAI saga appears calculated, bordering on cunning; If Altman’s comeback proves successful over the next few years, Microsoft will be seen as a crucial supporter during a critical juncture, having rescued Altman and OpenAI for the greater common good.

Startups making waves in Southeast Asia last week
These investments highlight the diverse and thriving entrepreneurial landscape in Southeast Asia.

AI landscape in 2024: Why there is an urgency for enhanced governance
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”.

Startup industry’s dark secret: Unveiling rampant sexual harassment
Female entrepreneurs reveal pervasive sexual harassment in the startup world, shedding light on a toxic culture; calls for change intensify.

How Netverse sets itself apart as a sharia-compliant metaverse
The IBF Net Group’s involvement in Web3 includes the IBFX token and a number of blockchain projects, including Netverse.

How Gojek built an intentional work culture for a thriving workforce
2022 will be the year of workplace reinvention. Here’s how to rethink and redesign workplace policies for the future of work.

Tick-tock fallout: The punchline of poor punctuality and time management
Punctuality is a cornerstone of personal integrity, and consistently failing to meet deadlines or appointments erodes that foundation.

How to navigate opportunities amid economic uncertainty
As you scale up your business, it’s also vital to provide an environment that attracts and, more importantly, retains skilled talent.

 

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Singapore’s healthcare industry stands out globally for ensuring universal access to good health while actively shaping the nation’s long-term economic goals. The healthcare sector’s unwavering commitment to research, innovation, and pioneering medical advancements is part of the refreshed Industry Transformation Map (ITM) 2025.

How does an ageing population impact Singapore’s healthcare?

As Singapore grapples with a rapidly ageing population, the demographic landscape is undergoing a profound transformation. In 2022, 18.4 per cent of citizens were 65 or older, and projections indicate that by 2030, nearly one in four citizens, or 23.8 per cent, will fall into this age group.

With the growing elderly population, healthcare facilities, including hospitals and clinics, are facing mounting pressure. This will necessitate substantial investment in healthcare resources and a transformation of healthcare services.

Singapore’s push towards a tech-enhanced elderly care

At the forefront of Singapore’s response to these challenges is a commitment to leveraging advanced technology in healthcare. Pioneering innovations, particularly in the integration of AI, are a key focus. This includes exploring how advancements in technology can specifically address the unique needs of an ageing population and transform the experiences of eldercare.

In this transformative landscape, various technologies, such as wearables with automatic vital sign tracking and user signal systems, play a crucial role. These technologies enable the sharing of health information for personal monitoring and oversight by medical professionals or caregivers.

An illustrative example is a pilot project by the Singapore Management University and Tata Consultancy, where passive infrared sensors were installed in room corners. These sensors capture active motion and generate alerts in the case of irregular activity or inactivity, allowing for continuous monitoring of patients’ activities and health conditions and facilitating proactive care and timely interventions.

Expanding the capacity for eldercare services

Singapore is expanding its eldercare services and establishing modern facilities for seniors. These offer diverse residential and community-based care options, ensuring specialised and dignified care for the elderly. To address the growing needs of Singaporeans and the healthcare industry, at least eight new nursing homes will be erected within the next five years.

Promoting graceful ageing

Singapore strongly promotes “graceful ageing” as a fundamental principle of its healthcare approach. This concept empowers seniors to maintain their independence and quality of life as they age. Age-friendly environments, wellness programmes, and active engagement within the community can help seniors enjoy fulfilling and meaningful lives.

For example, EASE 2.0, an upgraded program from the original Enhancement for Active Seniors (EASE), will introduce various measures to make HDB homes more elder-friendly. Additionally, the People’s Association Senior Citizens’ Executive Committees offers a wide range of activities to promote seniors’ well-being where seniors are active, bond and share knowledge.

This not only enhances seniors’ well-being but also eases the burden on institutionalised care, improving healthcare sustainability.

Investing in geriatric medicine research

Singapore is heavily investing in geriatric medicine research to develop improved treatments and care tailored to seniors’ unique needs. This commitment equips healthcare professionals with the latest knowledge and tools, enhancing the well-being of the elderly.

Also Read: What telemedicine and Health Tech holds across SEA amidst COVID-19

The Agency for Integrated Care and the Ministry of Health launched the Community Care-GP Partnership Training Award to fund course fees for practitioners who want to uptake eldercare-related programmes.

This is designed to arm medical professionals with the knowledge and skills to manage complex eldercare cases. These efforts ensure that the elderly population receives quality healthcare that caters to their specific needs.

Aligning investment strategies with Singapore’s focus on patient-centred care

To address challenges posed by the ageing population in healthcare, Singapore is strategically investing in outcome improvement while ensuring high-quality patient care and managing cost pressures effectively.

One such strategy is the emphasis on preventive care. The government has launched initiatives and public health campaigns to promote healthy lifestyles. To implement the new preventive care strategy, Healthier SG, Singapore plans to invest over US$1 billion in setup costs, including new tech systems and support for general practitioner clinics.

In addition, by encouraging healthier living, Singapore reduces the long-term healthcare costs associated with treating preventable illnesses. This is because citizens will be able to care for themselves as they age and will only seek medical help when necessary.

Additionally, home-based care is gaining prominence as a cost-effective, patient-centric solution. To further support patients receiving medical care at home, individuals can use their MediSave accounts to pay for home medical and nursing services, as well as for video consultations and in-home palliative care services.

On top of that, the Government has allocated US$254 million for top-ups to the MediSave accounts of the elderly population, allowing them to use their accounts for various healthcare expenses.

These initiatives aim to enhance the accessibility and affordability of healthcare services for individuals in the comfort of their homes, aligning with Singapore’s commitment to accessible, patient-centred care.

A holistic approach to healthcare sustainability

In Singapore, a multifaceted healthcare system encourages citizens to invest in and prioritise their health, with the assurance that the government and the healthcare system are ready to provide support at different stages of their lives.

This holistic approach acknowledges the complex interplay of challenges, such as an ageing population, digitalisation, and cost pressures, and the strategies developed to address them.

The collaborative efforts facilitated by the ITM 2025, which integrates lessons from the COVID-19 pandemic and embraces new technologies, underscore the nation’s commitment to enhancing its healthcare sector through strong public-private partnerships.

As we navigate the ever-evolving healthcare landscape, Singapore’s unwavering dedication to staying at the forefront of healthcare serves as an inspiration for innovative and sustainable solutions to meet the evolving healthcare needs of its citizens.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: Canva

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In the ever-evolving landscape of influencer marketing, a remarkable transformation is taking place. Talent agencies, once the gatekeepers of human influencers are now turning to artificial intelligence (AI) to reshape their business models.

The synergy between AI and influencer marketing is unlocking unprecedented possibilities, and the data is here to prove it.

The influence market’s meteoric rise

The influencer marketing industry has witnessed exponential growth in recent years. In 2021, it was valued at approximately US$13.8 billion globally, a staggering increase from just US$1.7 billion in 2016, according to Statista. This meteoric rise underscores the growing importance of influencers in the marketing ecosystem.

But there’s another market that’s quietly making waves — the AI market. According to Grand View Research, by 2028, the global artificial intelligence market is projected to reach US$309.6 billion. This immense growth is fueled by AI’s ability to automate and optimise tasks across various industries, including influencer marketing.

Why businesses can’t get enough of AI influencers

Leading tech giants like Meta (formerly Facebook) are leading the charge in embracing AI influencers. With an impressive roster of 15 AI influencers on the Meta platform, it is creating AI clones of celebrities — a virtual chatbot to engage with fans and followers 24/7/365.

Also Read: Influencer culture: Shaping the digital landscape globally

Zuckerberg, at Connect, explained the celebrity personas, “This is about entertainment and about helping you do things to connect with the people around you,” he said. “We thought that this should feel fun, and it should feel familiar.” 

The demand for AI influencers is driven by their unique advantages. Unlike their human counterparts, AI influencers operate 24/7, tirelessly promoting brands and engaging with audiences. Their scalability knows no bounds. Whether targeting multiple markets simultaneously or managing promotions across various social media platforms, AI influencers handle it all with ease.

AI influencers are also trendsetters in their own right. With real-time adaptation capabilities, they can ride the waves of viral sensations and capture the attention of target audiences like never before. It’s akin to having a virtual crystal ball that predicts what’s hot and what’s not in the digital world.

Unlocking actionable business insights with AI influencers

To truly understand the profound impact of AI influencers on the marketing landscape, let’s take a closer look at some notable examples that have been making waves in recent years.

In Japan, a groundbreaking campaign promoting green tea featured Generative AI as its star. This marked a significant milestone, as it was the first official advertisement entirely driven by AI. The campaign’s ability to create captivating and engaging content serves as a remarkable testament to the effectiveness of AI in marketing.

IKEA’s virtual model powered by AI has taken centre stage in their promotional efforts. This innovative use of AI seamlessly blends with traditional advertising, resulting in enhanced engagement with the audience.

Notably, Lil Miquela, a renowned AI influencer, boasts a staggering following of over 2.7 million dedicated followers. What’s more, Lil Miquela has formed partnerships with tech giant Samsung, underscoring the immense trust that major brands place in AI influencers.

And the AI influencer landscape doesn’t end with global brands. FAME, a multi-faceted AI talent agency, has introduced a trio of captivating AI talents. Among them is Bonnie Jung, a multi-language AI fashion influencer who has already forged partnerships with well-known fashion and lifestyle brands. She showcases lifestyle videos that captivate audiences.

Also Read: Influencer marketing strategies: Driving engagement and reach in Indonesia

The agency has also introduced Certified Personal Trainer Carol Garcia and Lifestyle Influencer Alisa Shafer. These AI talents are gaining traction in niche markets, offering invaluable tips on skincare, yoga, and even dance lessons, demonstrating the limitless possibilities that AI influencers bring to the world of marketing. AI influencers are undoubtedly redefining the influencer landscape, capturing the imagination of audiences worldwide and transforming the way businesses engage with consumers in the digital age.

AI’s impact on the future of influence

The fusion of AI and influencer marketing is revolutionising the way talent agencies operate. The data supports this transformation, showing the meteoric rise of influencer marketing and the colossal growth of the AI market. Major players like Meta are investing heavily in AI influencers, recognising their capacity for relentless promotion and trendsetting.

As AI continues to evolve and influence the influencer landscape, the future looks bright for brands, talent agencies, and AI influencers alike. The possibilities are endless, and the data-driven potential of this industry is simply awe-inspiring. The potential for these AI talents to evolve into pop stars and singers is virtually limitless.

So, stay tuned because the influence revolution is here to stay, and it’s powered by artificial intelligence.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: vecstock via Freepik

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In the whirlwind of the tech startup ecosystem, teams constantly race against time, grappling with tight deadlines and fierce competition. This high-pressure environment, while fueling urgency and focus, can paradoxically dampen the very innovation it seeks to accelerate.

The question is, how do startups navigate this challenging landscape to keep their creative edge sharp?

Understanding the pressure paradigm

‘High-pressure’ is a multi-faceted term. Externally, it’s about keeping pace with rapid technological changes and staying ahead of competitors. Internally, it involves navigating the ambitions and dynamics within the team and aligning them with the company’s innovative drive.

These pressures, both external and internal, constantly shape the day-to-day experiences of tech teams.

The impact of pressure on innovation

Pressure, often seen as a catalyst for productivity, can have a nuanced impact on creativity.

On the one hand, a certain level of stress can enhance performance, spurring teams to meet challenges with innovative solutions. On the other, excessive stress can lead to a decline in creative thinking as the team’s focus narrows to simply managing the immediate crisis at hand. This creates a risk-averse mindset, where safe, conventional ideas are favoured over bold, untested ones.

Additionally, the way a team handles pressure can significantly affect its cohesion, either strengthening the bonds through shared challenges or creating rifts due to stress and competition.

The brain under stress: A neuroscience perspective

Stress triggers a complex response in the brain. In the short term, it can sharpen focus and quicken decision-making, which can be beneficial. However, chronic stress can impair critical cognitive functions necessary for innovation, such as memory, flexibility in thinking, and decision-making.

Also Read: How Malaysian workplaces need to manage the impact of “coronastress”

Understanding this from a neuroscience angle can help in strategising ways to harness stress positively.

Turning stress into a catalyst for innovation

Interestingly, not all stress is detrimental to creativity. Positive stress, or eustress, can be exciting and motivating, enhancing creativity by providing just the right amount of mental arousal.

Moreover, sometimes, a certain degree of pressure can lead to unexpected breakthroughs in thinking, as it pushes the brain to find innovative solutions to new challenges.

• Embrace flexibility: In a high-pressure environment, rigid structures can stifle creativity. Adopting a flexible approach to workflows and problem-solving can open up new avenues for innovation. This flexibility also extends to work arrangements, allowing team members to find their most productive rhythms.
• Cultivate a safe space for risk: Innovation thrives in environments where taking calculated risks is encouraged. Creating a team culture that supports experimentation and understands that not every risk leads to immediate success is crucial. This approach not only fosters creativity but also builds resilience.
• Encourage cross-disciplinary collaboration: Innovation often happens at the intersection of different fields. Encouraging team members to collaborate across departments can bring fresh perspectives and insights, sparking new ideas and solutions.
• Invest in team development: Regular training sessions, workshops, and team-building activities can enhance the team’s skill set and strengthen bonds. This investment pays dividends in the form of increased innovation capacity and a more cohesive team dynamic.

In transforming pressure into a positive force, the key is to balance the urgency of demands with an environment conducive to creative thinking and experimentation.

Sustaining innovation for the long haul

Ensuring that the innovative spark within a tech team endures beyond the initial burst of creativity is critical for long-term success. This sustainability hinges on several key factors:

• Build a culture of continuous learning: In the ever-evolving tech landscape, continuous learning is not just beneficial; it’s essential. Encouraging ongoing education, whether through formal training, workshops, or self-directed learning, keeps the team agile and open to new ideas.
• Regularly reassess and adapt strategies: What works today might not work tomorrow. Regularly reassessing and adapting strategies in response to changing market trends, technological advancements, and team dynamics is crucial. This agility allows the team to stay relevant and innovative.
• Foster well-being and balance: Burnout is the antithesis of innovation. Prioritising the well-being of team members through work-life balance, mental health resources, and supportive workplace policies is vital. A team that feels supported and valued is more likely to be engaged and innovative.
• Encourage ownership and autonomy: When team members feel a sense of ownership over their work and the freedom to explore their ideas, they’re more likely to be motivated and innovative. Fostering a sense of autonomy can lead to greater engagement and creativity.

Also Read: Unlocking marketing success for startups and small businesses: Strategies for excellence

By focusing on these areas, tech startups can create an environment where innovation is not just a one-time event but a continuous, evolving process that drives the company forward.

Additional resources

For those looking to delve deeper into the intersection of high pressure, innovation, and team dynamics in the tech startup world, the following resources offer valuable insights and practical tools:

• Thinking, Fast and Slow by Daniel Kahneman: Provides an in-depth look into how our minds work under different kinds of pressures and the impact on decision-making.
• The Innovator’s Dilemma by Clayton M. Christensen: A classic read on how even the most outstanding companies can lose their innovative edge and how to avoid it.
• Drive: The Surprising Truth About What Motivates Us by Daniel H. Pink: Explores the dynamics of motivation in the workplace, particularly useful for understanding team dynamics under stress.
• Podcast How I Built This with Guy Raz: Shares stories of entrepreneurs and innovators, providing real-world examples of navigating business pressures.
• Harvard Business Review: A wealth of articles on innovation, leadership, and team dynamics in high-pressure situations.

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Decentralised finance (DeFi) is a game-changing innovation that is changing the face of the financial services industry by giving customers new, decentralised options for gaining access to the products and services they need.

With blockchain technology as the backbone, a decentralised ecosystem may be built without the involvement of middlemen like banks.

However, AI has been making headlines for its promise in areas such as automation, data analysis, and pattern recognition. Experts are investigating the possible influence of AI on the DeFi space and the novel enhancements it can bring to the ecosystem as the two fields of AI begin to converge.

Why should AI be used in the DeFi space?

We can look at the incorporation of AI into the DeFi sector as a logical next step, with the two sectors’ strengths enhancing one another to provide greater results. Due to its distributed design and transparent transactions, DeFi is a goldmine of information that may be used by AI for analysis and optimisation.

By introducing AI into DeFi solutions, consumers can experience increased user experiences, faster operations, and improved risk management.

AI may equip DeFi protocols with cutting-edge optimisation methods, automating many procedures to boost efficiency. AI has the potential to improve several aspects of DeFi platforms, including smart contract administration and automated lending and borrowing.

DeFi creates massive volumes of data that AI systems may analyse to find patterns, trends, and anomalies. Users and investors may make better decisions and assess risk with this data-driven strategy.

AI and blockchain integration makes it possible to access AI services in a decentralised manner. As a result, individuals and groups now have access to AI tools that can be used to address pressing societal issues.

AI’s future contributions to DeFi

When AI and DeFi are used together, they can pave the way for new and better ways of providing financial services.

AI can improve smart contracts’ capabilities by enabling complicated features like autonomous governance and optimisation, which in turn makes DeFi systems more resilient and flexible.

Also Read: Global Web3 companies on why Asia Pacific is the future of the industry

In the fight against fraud inside the DeFi ecosystem, artificial intelligence (AI) can play a vital role. Protecting the interests of those participating in DeFi, AI algorithms can analyse transaction data to spot signs of fraud, market manipulation, and security breaches.

Artificial intelligence (AI) powered credit scoring systems implemented in DeFi have the potential to radically alter the way we do business in the financial sector. Creditworthiness and interest rates can be determined and determined with precision by AI algorithms by analysing borrower data such as credit history and financial activity.

In risk assessment and management, the capacity of AI to monitor market trends and economic data can contribute to a more accurate risk assessment in DeFi protocols. This ability can also help with risk management. This can provide investors with greater insights, which in turn can help them make informed decisions.

Final thoughts

The potential for AI and DeFi to revolutionise the financial services industry is enormous. DeFi’s guiding principles of decentralisation and transparency are a natural fit with AI’s capabilities in areas such as process optimisation, fraud detection, and user experience enhancement.

To fully utilise the potential of AI in DeFi, however, it is essential to solve legal, ethical, and security problems. DeFi systems are able to adapt to market demands and provide cutting-edge monetary services to more people because they utilise AI.

When these two game-changing technologies finally come together, it will pave the way for a more accessible and effective financial system for everybody. This is great news for the future of DeFi. The mutually beneficial link between AI and DeFi will surely mould the future of banking as the use of AI and blockchain technology continues to rise.

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Having worked in Vietnam for over four complete quarters now, I’ve had the privilege of witnessing firsthand the unique challenges and opportunities within the fast-moving consumer goods (FMCG), lubricants, and healthcare industries in Southeast Asia.

The diverse markets, the myriad of languages, and the ever-evolving consumer preferences are a testament to the region’s potential. However, navigating the fragmented general trade channels in this dynamic landscape requires innovative solutions.

In my time here, I’ve seen how traditional distribution channels, with their intermediaries and complex networks, often result in inefficiencies, increased costs, and limited visibility into market dynamics.

The need for transformation in this space became even more apparent to me as I watched businesses struggle to adapt to the rapidly changing market demands. It’s evident that embracing digital technologies is the way forward.

Understanding the fragmented landscape

Southeast Asia is home to a myriad of cultures, languages, and consumer preferences, making it a prime market for FMCG, lubricants, and healthcare products. However, navigating this fragmented landscape has traditionally been a formidable task.

The distribution channels are often characterised by intermediaries who play pivotal roles in connecting manufacturers to the end consumers. This scenario leads to challenges such as inefficient supply chains, high distribution costs, and limited visibility into market dynamics.

The transformational power of eB2B and digital route-to-market solutions

In recent years, the adoption of eB2B and digital route-to-market solutions has been steadily increasing across the region. These technologies are revolutionising the way businesses operate within fragmented channels, offering a range of benefits:

Also Read: Vietnamese fashion supply chain platform Inflow lands US$2M investment

• Enhanced visibility and data insights: eB2B platforms provide real-time data analytics, enabling manufacturers to gain deep insights into market trends, consumer behaviour, and inventory levels. This data-driven approach empowers businesses to make informed decisions and optimise their product offerings.
• Efficient supply chain management: Digital route-to-market solutions streamline supply chain processes, reducing lead times and distribution costs. Manufacturers can track their products throughout the supply chain, ensuring on-time deliveries and minimising product losses.
• Targeted marketing and sales: Digital platforms enable precise targeting of marketing efforts. By understanding consumer preferences and demand patterns, businesses can tailor their marketing campaigns and promotions, resulting in higher conversion rates and increased sales.
• Improved relationship management: eB2B solutions facilitate direct communication between manufacturers and retailers, eliminating intermediaries and fostering stronger relationships. This direct interaction enhances trust, encourages collaboration, and allows for more responsive customer support.
• Scalability and expansion: Digital platforms provide a scalable model for growth. Manufacturers can easily expand their reach into new markets and regions without the need for an extensive physical presence, making it a cost-effective strategy for regional expansion.

Success stories from Southeast Asia

Several companies in the FMCG, lubricants, and healthcare sectors have already reaped the benefits of eB2B and digital route-to-market solutions in Southeast Asia:

• FMCG: Multinational consumer goods companies have been leveraging eB2B platforms to gain valuable insights into consumer behaviour, leading to more effective product launches and marketing campaigns tailored to specific regional preferences.
• Lubricants: Lubricant suppliers have adopted digital route-to-market solutions to optimise their lubricants distribution network, resulting in reduced lead times, improved product availability, and increased customer satisfaction.
• Healthcare: Many pharmaceutical firms in the region have embraced digital platforms to connect directly with healthcare providers and pharmacies. This direct interaction has improved the availability of critical medicines and medical supplies in remote areas.

Also Read: Enhancing cyber supply chain resilience: A vision for Singapore

The road ahead

As Southeast Asia’s FMCG, lubricants, and healthcare industries continue to grow, embracing eB2B and digital route-to-market solutions is no longer an option but a necessity. These technologies enable businesses to navigate the complexity of fragmented general trade channels efficiently and create substantial value.

However, success in this transformation requires a strategic approach, including robust partnerships, investment in training and technology, and a commitment to data-driven decision-making.

eB2B and digital route-to-market solutions are ultimately reshaping the landscape of FMCG, lubricants, and healthcare general trade channels in Southeast Asia. Manufacturers who embrace these technologies are well-positioned to thrive in this diverse and dynamic market, creating value for their businesses, customers, and the region as a whole.

It’s time for businesses to seize this opportunity and embark on a transformative journey towards a more efficient and profitable future.

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Millennials and Gen Z, the generations born between the early 1980s and the early 2010s, are the world’s largest consumer cohort. According to McKinsey, they will each account for 25 per cent of Asia’s population by 2025.

As young consumers enter the workforce and begin renting and buying homes, property technology (proptech) developers will listen to their preferences and create solutions for them that will fundamentally change the real estate industry in Asia Pacific and beyond.

These tech-savvy generations have different preferences for their homes and office spaces than their predecessors. In general, they place more emphasis on affordability and flexibility. They are motivated by a desire for sustainability and wellness, and they expect the convenience of financial technology (fintech) and smart home solutions.

To connect with the millennial and GenZ generations, real estate developers, architects, and property managers in the booming Guangdong-Hong Kong-Macao Greater Bay Area (GBA) are increasingly embracing innovative proptech solutions. This is creating a wealth of opportunities for startups in this exciting space.

The digitalisation of real estate

Young people are driving demand for co-working spaces and shared short-term rental accommodation in the GBA. Booking, onboarding, calculating shared expenses, and invoicing can all be online through automation, bringing transparency and flexibility to tenants and property owners alike.

Hong Kong’s home rental market is also booming, fuelled by overseas tertiary students and an influx of young professionals under various talent schemes.

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Serving these markets, several new online real estate platforms are leveraging AI to match tenants with properties and provide augmented reality virtual tours. Property managers are also using digital platforms to foster a sense of community for tenants by enabling them to connect and access facilities like video conferencing rooms and gyms, as well as dry cleaning and other services.

The rise in pet ownership among young, well-educated, high-income earners in Hong Kong and mainland China adds another dimension for property managers to consider. Using online tools to screen tenants’ pets and create digital pet profiles with references can help properties enact and manage responsible pet policies and attract desirable tenants.

Proptech innovations are reshaping lifestyles

There is a fundamental shift towards more eco-friendly and hassle-free lifestyles for Millennials and Gen Z. Whether at home or work, young people are seeking solutions that help them create a healthier and more comfortable environment, which is driving the growth of smart homes and smart building technologies.

Among the local startups delivering proptech innovations that meet this demand is a company with patented acoustic air-purification technology; a developer of autonomous service robots for deliveries, cleaning, and security; and a team that is building an AI-powered open platform for seamless building design and construction, building automation, energy management and more.

Another startup is integrating technologies that monitor and optimise building systems to help property managers control energy usage in commercial buildings, reduce their carbon footprint, and create a healthier and more comfortable environment for tenants.

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There is also a lot of local activity in South China’s fintech sector. Online payments and smart contracts based on blockchain technologies are more frequently applied to rental contracts and co-working agreements in the GBA. They are also adopted by the region’s digital mortgage brokers to streamline and personalise the mortgage process.

Hong Kong’s support of proptech growth

Hong Kong has emerged as a proptech hub that is driving the growth of the sector throughout the GBA, as the city is one of the most mature and active real estate markets in the world.

While real estate and construction accounted for 9 per cent of Hong Kong’s economy in 2021, the government has further committed Hong Kong to a carbon neutrality action plan that will see the city increasingly embrace green and smart city technologies. All these would contribute to the long-term proptech development in Hong Kong.

Proptech development is also supported locally through organisations like the Hong Kong Science and Technology Park and Cyberport, which provide sandbox and incubation opportunities. Worth noting that a new proptech co-working space recently opened in northern Hong Kong as a joint project of Cyberport and the Hong Kong Housing Society (HKHS).

The collaboration, which includes a proof-of-concept programme, will give entrepreneurs access to Cyberport’s business guidance and HKHS’s knowledge of housing development and management as well as field trial opportunities at HKHS properties. It is also showcasing proptech products and solutions, including workplace robots and a smartphone booth, developed by Cyberport startups.

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13 proptech startups were based at the co-working space on its opening day. They are part of a wider proptech ecosystem that encompasses a diverse range of startups, emerging growth companies, and innovative businesses across the commercial and residential real estate markets.

There continues to be huge potential for Hong Kong-based proptech startups that can add value to real estate businesses. Capabilities like sustainability, digital transactions, smart building integration, real-time data analytics and AI-powered customer service are only going to be more important to connect with the younger generation in years to come.

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