Singapore’s leading tech trade association, SGTech, in collaboration with SkillsFuture Singapore (SSG) and AI Singapore (AISG), has launched ‘Generative AI for the Tech Workforce‘ jobs and skills guideline to drive digital transformation for businesses as a response to the government’s National AI Strategy 2.0, as announced by Deputy Prime Minister Lawrence Wong in December 2023.

This resource aims to provide business owners and employees with an overview of GenAI and its expected impact on businesses, particularly on jobs and skills. More importantly, it is designed as a practical guide for business leaders who are looking to prepare their companies and employees for the GenAI world.

Also Read: Global data reveals Singapore surpasses US in AI investment

With GenAI, companies are able to streamline talent acquisition by customising tests and conducting lifelike interviews. Automated tasks free up time for engagement, strategy enhancement, and employer branding. GenAI efficiently analyses data for advisory chatbots, allowing more time for valuable activities. It also supports coaching and training for AI developers through a Socratic methodology, assessing scripts, identifying improvements, and providing customised advice.

“The future of work relies on the flexibility of individuals and organisations to adopt technological advancements. Teaming up with AI Singapore (AISG), we leverage GenAI to align skills needs with technological progress. This publication serves as a guide, directing professionals and enterprises toward a future where skills development seamlessly aligns with technological innovation,” said Benjamin Mah, SGTech’s Co-Chair of the Talent Steering Committee.

The impact of GenAI is significant and lasting, foreseeing a projected increase of US$7 trillion in global GDP over the next decade. Between 2020 and 2025, the AI revolution is expected to result in the creation of 12 million more jobs than those lost.

In an October 2023 poll among its members, SGTech conducted business capabilities and hiring sentiments survey, revealing that 76 per cent of respondents in the tech sector expressed intentions to develop GenAI capabilities in the coming year.

Access the complete guidelines here.

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In the dynamic world of global trade and transportation, a silent yet significant player often goes unnoticed: the humble shipping container. It’s the cornerstone of international logistics, a quiet workhorse that has remained unchanged for decades. That is until I embarked on a journey to transform this overlooked aspect of global trade with my AELER Co-Founder and Co-CEO, David Bauer. It’s a tale of innovation, resilience, and a vision to redefine an industry.

The inception: Igniting a revolutionary idea

Our story began at the picturesque École Polytechnique Fédérale de Lausanne (EPFL) University on the banks of Lake Geneva — a setting far removed from the world of shipping and logistics. A chance conversation sparked a friendship and sowed the seeds for an innovative idea. We realised that the shipping container, a pivotal element in global logistics, hadn’t seen any significant innovation since the 1970s. This was our “Eureka!” moment, a realisation that set us on a path to where we are today.

Understanding industry needs

After fleshing out our initial idea, we contacted cargo owners for their insights. Their experiences were eye-opening. The conventional containers, while foundational for modern trade, needed to catch up to the needs of contemporary logistics. They were often inefficient in terms of space utilisation, lacked advanced tracking capabilities, and weren’t designed with the latest sustainability standards in mind.

Moreover, cargo owners had to adapt them to their goods — for example, by adding extra insulation. This feedback was a clarion call for change — the industry desperately needed a new approach where the container adapted to cargo owners, not the other way around. 

Also Read: Hacking customer engagement in Indonesia’s agri supply chain

During these interactions, we recognised a fundamental disconnect in the industry’s perception of the shipping container. Bauer expressed it aptly, “As outliers, we perceived the problem differently. While most industry stakeholders viewed the shipping container as a commodity, we envisioned it actively enhancing transport efficiency. This change in perspective is what is shaking the status quo.”

The first milestone: Our prototype

The unveiling of our prototype in November 2018 marked a significant milestone in our journey. The response was overwhelming. Industry professionals were intrigued and excited by what we had created, taking selfies and photos with a container that looked like no other on the market. This moment validated our belief that the shipping industry was ready for change, even if it didn’t know it yet. 

Unit One: More Than Just a Container 

The Unit One container — our latest model — represents not just a new product, but a paradigm shift in shipping technology. Constructed with advanced composite materials, it offers unprecedented strength and superior insulation, surpassing the capabilities of traditional reefer containers.

This innovation is pivotal, allowing for an 11 per cent increase in cargo capacity compared to a standard reefer container. In addition, Unit One is a stride towards sustainability, cutting CO2 emissions by up to 20 per cent. 

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

Our Control Tower platform is another leap forward. It provides real-time insights into the container’s status using sensors and the Internet of Things (IoT), transforming logistics operations. This technology isn’t just innovative; it’s revolutionary, offering transparency and efficiency previously unheard of in maritime logistics.

Overcoming obstacles: The path to innovation

Our journey wasn’t smooth sailing. Introducing a disruptive product into a traditionally conservative market was challenging. We had to navigate through scepticism, logistical hurdles, and the daunting task of establishing a global infrastructure for our containers. But these challenges only served to fortify our resolve and commitment to our vision. 

Broadening horizons: The strategic expansion into APAC 

Our expansion into the Asia-Pacific region marked a new chapter in our story. Last year, we formed strategic partnerships with local agencies in Singapore, Malaysia, Thailand and Taiwan, among others, who shared our vision for innovation and sustainable logistics. These partnerships aren’t just about expanding our reach; they’re about embedding our philosophy of smarter, more efficient logistics into new markets with stakeholders with the same mindset. 

In Taiwan, our collaboration with Kaichem is redefining how freight forwarding services are managed, tailoring solutions to specific logistical needs. Similarly, in Singapore and Thailand, our partnership with JNC is setting new standards in freight services, leveraging their extensive network to bring our innovative solutions to a broader audience. 

Looking ahead: The future of AELER 

As I reflect on our journey, I realise that it’s not just about transforming a product; it’s about transforming an industry. Our mission at AELER goes beyond reinventing the shipping container. It’s about creating a more efficient, sustainable, and transparent global logistics network. 

Our journey has taught us valuable lessons about innovation, resilience, and the power of a visionary idea. As we continue to expand and evolve, we remain committed to our core values of sustainability and efficiency. The future of maritime logistics is exciting, and AELER is at the forefront, charting a new course in this ever-evolving industry.

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Singapore-based AI automation software company Bluesheets today announced that it has secured US$6.5 million in a Series A funding round led by Illuminate Financial, a UK-based financial-services-focused VC fund that is backed by BNY Mellon, J.P Morgan, Citi, SGX, Barclays, Euroclear, S&P Global, Jefferies and Deutsche Börse Group.

The company’s early investors, such as 1982 Ventures and Insignia Ventures Partners, and new investor Antler Elevate Fund also participated in the round.

In a press statement, Bluesheets said that the funding will play a crucial role in advancing its exclusive AI capabilities, enabling them to assist a broader range of clients in digitalising and automating their processes, ensuring competitiveness in the AI-driven era.

The Series A funding will be utilised to deepen existing coverage in their core client segments of banking, insurance, supply chain, procurement, and finance and accounting services.

Also Read: These Artificial Intelligence startups are proving to be industry game-changers

“Bluesheets is on a mission to redefine the landscape of data processing and process automation. Our Series A funding, led by Illuminate Financial, marks a pivotal moment for us as we accelerate the development of our AI product range,” said Christian Schneider, CEO and Co-founder of Bluesheets.

“This investment not only strengthens our position as a leader in the AI automation space but also underscores our commitment to providing innovative solutions that empower businesses across different sectors and geographies.”

Bluesheets leverages financial data points to train AI models for process automation across various industries. It aims to help businesses process unstructured data in multiple formats, languages, currencies, and from both digital and physical sources.

The company has a client base across Asia Pacific, the US, and Europe, which includes Mitsui Sumitomo Insurance Group (MSIG), SCG, Teckwah, Gamuda Berhad, Leong Hup International and Commonwealth Capital.

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Image Credit: Bluesheets

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Today, Singapore-based climate tech company Arkadiah announced the closure of an undisclosed seed funding round led by Golden Gate Ventures, with the participation of  The Radical Fund and Money Forward Venture Partners (HIRAC FUND).

With the new funding, Arkadiah plans to enhance its AI models, expand its product offerings and be in a “strong position to scale” with project developers, natural climate investors, land owners and corporations.

The company was founded in 2023 based on the idea that nature-based solutions, such as reforestation and agroforestry, could contribute 30 per cent of the needed mitigation by 2050 for the Paris Agreement’s 1.5℃ target. However, current restoration projects face delays due to manual processes, hindering funding, scaling, and speed.

Also Read: Singapore surpasses US in AI investment: Study

Arkadiah aims to contribute to the solution by reviving degraded land through AI-enabled nature restoration.

Arkadiah’s proprietary platform leverages AI, LiDAR, and satellite imagery to offer transparent and verifiable data. The platform simplifies the implementation of nature-based climate solutions by digitising the entire process for project developers, landowners, and corporations. This facilitates high-quality carbon removal and the advancement of biodiversity-rich ecosystems.

With 15 per cent of the world’s tropical forests, significant biodiversity hotspots, and economies reliant on agriculture, Southeast Asia is strategically positioned for nature-based climate solutions to play a substantial role in achieving the region’s climate goals.

“We’re thrilled to have the support of our investors who share our vision to build a nature-positive future. Through transformative AI and digital monitoring technology, we are eager to accelerate project funding opportunities and scale needed land restoration to bring the highest quality carbon removal and biodiversity credits in Asia,” said Reuben Lai, CEO and Co-Founder of Arkadiah, who previously led Grab Financial Group.

Arkadiah has implemented and is currently supporting pilots with more than 15 projects in Southeast Asia and Australia, focusing on pre-feasibility, feasibility studies, and digital carbon stock measurements.

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In a new report on the state of tech startup investment in the first half of 2023, Cento Ventures revealed that in that period, Southeast Asian (SEA) startups received “tepid response” from investors, logging a 54 per cent year-on-year drop in investment volume. According to the report, this level has not been seen in five years.

However, the report also stated that the decline in regional investment volume is likely ending as the appetite for fresh investments slowly picks up.

“The deal landscape appears to be reversing to levels seen before COVID-19 – and quite possibly to pre-unicorn era standards. The return to predual-bubble valuations and deal sizes follows the decrease in investment volumes but with a significant lag. Interestingly, this market correction only took place a full year after the first chills of the market downturn were felt in the US — the region did not see a sharp decline in capital intake until the end of 2022,” Cento Ventures said.

“With half of the capital gone, Southeast Asia remains firmly below its 2017-2020 capital intake baseline — the only global market other than China to have adjusted so quickly, as 2021-2022 exuberance hasn’t lifted investment levels in SEA nearly as much as in India or in Latin America. This, along with the mega-deal volume at a historical minimum, leads us to believe SEA might be looking at a slightly softer year-on-year drop in investment activity going forward compared to its peer regions.”

Also Read: Collaboration with startups begins with speaking their language: Amanda Murphy of HSBC

Cento Ventures highlighted that though investment flow has slowed, SEA saw multiple launches of early-stage investment funds in Vietnam. It also saw increased activity from local conglomerates and multiple capital-intensive business models in the Philippines. In Malaysia, government agencies are supercharging investment activity.

“As the region entered an era of correction, investors continued to shift their attention towards earlier stages. Despite the growing negative mood towards the second half of 2023, SEA’s core venture stack held up surprisingly well. We saw capital across Pre-A to Series C (all $0.5-50 million per deal ranges) was still being deployed at about the same pace as in the preceding three years. The mega-deals category (more than US$100 million), however, is nearly at a historic minimum, with only a few companies in the region (eFishery, bolttech, Kredivo and Moladin) raising or announcing US$100 million plus rounds in H1 2023.”

In search for the next Indonesia

The report also puts the spotlight on the next country in SEA that has great potential for global investors–or, as we may call it, “the next Indonesia.”

“Since early 2022, as valuations in Indonesia peaked and the search for the next regional growth story unfolded, narratives of Vietnam’s ‘Next China’ and the Philippines’ ‘Next Indonesia’ have been tested against each other. Nearly two years on, neither market is a clear break-out story. Vietnam has seen multiple launches of early-stage investment funds and held on to a respectable portion of regional investment flow, despite investment activity having been subdued on account of the economic malaise,” the report said.

It further elaborated the potential of these countries.

Also Read: The best new year resolutions for startup founders: Offering ESOPs that actually work

“The Philippines market has seen a surge of activity from multiple local conglomerates and the emergence of multiple capital-intensive business models, mirroring Indonesia’s trajectory in 2017-2019. These developments, however, are meeting with the near absence of later-stage capital to power them further,” the report explained.

“Elsewhere, the Malaysian government’s attempt to super-charge investment activity in the country through multiple government agency-led programs may have worked, giving the country a share of regional investment equal to Vietnam and a significant uplift in Series A and B valuations.”

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