Dear reader,

This week, we continue to see funding flooding into various global AI startups, starting with a US$3 million funding announced by Maxim AI to help developers create reliable AI tools.

As the world reopens following the COVID-19 pandemic, we also see more and more travel tech companies entering the promising Southeast Asian (SEA) market, including RateHawk, which offers hotel bookings, flight tickets, transfers, car rentals, and other travel-related services.

On the biotech front, we also see startups such as ArrowBiome raising new funding. ArrowBiome produces and engineers lysins and offers its solutions to personal care companies and speciality chemical manufacturers, among other players.

Outside of news, our contributors also write about a wide array of topics from navigating the future of marketing with AI to the importance of privacy in the age of social media.

Anisa,
Editor.

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NEWS

From sustainable energy to fan engagement, funding flows this week
SEA startups secured significant funding, with innovations ranging from AI-driven invoicing and digital fan clubs to seaplane and green fuels

Maxim AI secures US$3M to better help developers create reliable AI tools
It will use the funds to expand its team and onboard more enterprises building AI products, Tech In Asia writes

Autonomous trucking startup Waabi raises US$200M funding led by Uber, Khosla Ventures
Also backed by NVIDIA, the company relies on its AI chips ot power its self-driving applications, according to DealStreetAsia

Traveltech firm RateHawk lands in Asia with Singapore regional HQ
The company offers hotel bookings, flight tickets, transfers, car rentals, and other travel-related services

SG startup raises US$1M to help take microbiome care mainstream
ArrowBiome produces and engineers lysins and offers its solutions to personal care companies and specialty chemical manufacturers, among other players.

Oyo finalises up to US$125M raise at discounted US$2.5B valuation: report
The fundraise comes after Oyo abandoned its IPO plans last month

KKR-SingTel consortium to invest US$1.3B in ST Telemedia Global Data Centres
Reuters reported in late May that the KKR-SingTel consortium had emerged as the frontrunner to buy a minority stake worth some US$1 billion in Singapore-based ST Telemedia Global Data Centres (STT GDC)

FEATURES & INTERVIEWS

Deemples, the ‘Uber for Golfers’, aims to make tee times effortless in Southeast Asia
Deemples facilitates connections among golfers to ensure that a game can always be arranged regardless of individual schedules

These 7 tech titans are empowering your business with reliable cloud services
The popularity of cloud services stems from various factors, including cost-effectiveness, flexibility, and scalability

Navigating the 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”

FROM THE CONTRIBUTORS

How institutional investors can build a successful DMA strategy in 5 steps
With increasing competition, more institutional traders are turning to DMA for frictionless, low-latency market access

Embracing AI’s promise: Navigating the future of marketing
In an era where AI is reshaping the marketing industry, we explore how marketers, particularly in Singapore, can unlock AI’s potential

Embracing automation and phygital models: The future of mortgage companies
Automation and phygital models are reshaping the mortgage industry, enhancing efficiency, customer experience, and operational cost savings

Travel revival: Asia-Pacific on the rise!
The booming popularity of APAC as travel destinations offers abundant opportunities for travel businesses and startups

Singapore’s skills gap: How Singaporean employers can embrace upskilling
The need for upskilling in Singapore highlights the importance of addressing the skills gap and offering accessible continuous learning opportunities

The hidden price of connection: Privacy in the age of social media
By taking proactive steps to manage your privacy, you can enjoy the benefits of staying connected without compromising your personal information

How startups can overcome the AI talent death
Cloud-based AI tools allow startups to scale operations, adapt to market changes, and stay agile without extensive in-house expertise

Confessions of a founder: There’s no fun in fundraising in 2024
Wipe your tears and don’t despair too much, founder; here are some comforting words from your fellow founder

How M&A can supercharge your startup’s success
M&A is a good exit strategy for deep-tech or tech-based ICT service companies and trend-sensitive B2C consumer goods companies

FROM THE ARCHIVES

A paradigm shift on the Z axis: How Gen Z is shaping the new work culture
Gen Z, armed with digital prowess and a vision for a brighter future, is forging new paths by prioritising personal happiness over tradition

How utu aims to boost tourism by transforming the traditional VAT refunds system
utu has introduced utu Privileges, which allows tourists to upsize their tax refunds by up to 110 per cent of the GST paid on their purchases

Sustaining the work: How businesses can take a step forward in their move towards net zero
As tackling the impact of climate change becomes more urgent, the next critical decade must focus on pathways

With STEPVR, making AI-generated videos is as easy as creating PowerPoint presentation
STEPVR was part of AI Trailblazers, Singapore’s first Generative AI Innovation Sandboxes established to accelerate AI solutions development

The next big things in AI: Why Enterprise GPT and inclusion are going to take centre stage
There is a movement for organisations to go beyond ‘narrow AI’ and embrace AGI–artificial general intelligence

Why Khailee Ng puts mental healthcare support as key to successful founders-investors relationship
Based on his experience in mentoring startups, Khailee Ng shares the most common issues faced by founders –and how investors can help them

Why customer education plays an important role in Wise’s international expansion plan
For services such as Wise, there are two dimensions to international expansion

Delivering 3M martabaks in a year: How Go-Jek uses big data to run business better
When it comes to the use of data, Go-Jek SVP, Business Intelligence Crystal Widjaja says that the opportunities to grow are abundant

The state of European tech startup industry –and what Asia can learn from it
The strength of the European tech startup industry lies in its availability of talents and its ability to attract these talents

Beyond the hospital: Challenges and opportunities in Indonesian healthtech scene
Healthtech in Indonesia may have been a niche sector at the moment, but there are plenty of rooms for startups to grow

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Image Credit: © rawpixel, 123RF Free Images

The post Ecosystem Roundup: Maxim AI gets US$3M | RateHawk lands in Asia | ArrowBiome raises US$1M appeared first on e27.

Buyandship, a global cross-border e-commerce enabler based in Hong Kong, has extended its Series B round, securing an additional US$6 million led by Altara Ventures.

KSK Angels (founded by Keisuke Honda), AVA Angels, and Venture University also participated.

With the fresh funds, Buyandship plans to enhance its AI-enabled price comparison function, improve the user journey in product search and purchase, expand into new Southeast Asian markets, and further automate operations.

Founded in 2014, Buyandship is a leading global cross-border e-commerce enabler, empowering consumers to purchase products worldwide through big data, global price comparison, social commerce, and logistics technologies.

Dave Ng, General Partner at Altara Ventures, commented, “The online shopping world is becoming flat. It is easy to discover and browse products, however, completing purchases through the last mile is still a challenge. Buyandship is solving the pain point of allowing anyone to buy online globally and have products shipped to their doorsteps. We are excited to partner with Buyandship in the next phase of their journey.”

Also Read: Malaysian golf course booking platform Deemples nets US$2M from V Ventures

The company has expanded its presence to 12 countries and regions, operating 11 overseas warehouses. It claims to have over two million registered users and over 12 million transactions to date.

In September 2023, Buyandship raised US$10 million in Series B initial funding from Cool Japan Fund. This brings the total amount raised in the Series B round to US$16 million.

Since receiving initial Series B funding, Buyandship has entered the Vietnam market, launched an automated virtual personal shopping assistant enabling 39X-faster shopping, and integrated an AI-powered recommendation system into its social network, Buyaholic, allowing users to browse and purchase popular products with one click.

Sheldon Li, Co-Founder and CEO of Buyandship said, “The oversubscribed financing round is an affirmation of Buyandship’s belief in offering consumers the easiest experience to purchase products globally at the most competitive pricing.”

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

Image credit: Buyandship

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Whether you’re ready to take the leap of faith and start your own business or you’re already running one, having an effective online marketing strategy in this digital era is critical to your company’s success. As a small business owner, you may not have a lot of resources or a huge budget to buy extensive advertising. Creating buzz for your business can be a challenging task. That’s why more and more startups are resorting to public relations to get the word out.

Public relations can be one of the best ways to promote a business and gain visibility. It helps you stand out from your competitors and gives your business more credibility. According to a global survey by Nielsen of 30,000 respondents in 60 countries, two-thirds (66 per cent) trust reviews and opinions posted online and editorial content from newspapers and magazines. Compared to traditional advertising, PR content is almost 90 per cent more effective in influencing consumers’ decision-making process.

It goes without saying that earned publicity will benefit your business. However, engaging a PR agency or employing a PR consultant can be very expensive, and most small, budget-conscious businesses can’t afford them. Unless you have a PR background, DIY PR can be a daunting job that many entrepreneurs struggle with.

For this reason, I’ve put together this article to help startups and small business owners get press coverage for their businesses on a limited budget. In the past few years, I have successfully achieved coverage for my clients across 20 markets globally. Most of my clients are startups in the technology space: adtech, edutech, 3D printing, aviation technology, fintech/crypto, health tech, online gaming, app developers – you name it.

In this piece, I’ll take you through the do’s and don’ts of PR and give you time-tested tips on how to get guaranteed press coverage for your tech startup.

Identify the right news element

There are several ways to reach out to the media and get coverage, but the quickest and most effective way is to submit a press release. A press release is an official statement announcing a company’s news. That means there needs to be a news element that is actually newsworthy.

Also Read: Redefining SocialFi through privacy-enhanced social networking

In many instances, business owners want to issue a press release because they want to generate brand awareness, their products are so great, or they have been so successful. But when probed for a news element, they can’t come up with anything. Sorry, but readers – and therefore, media outlets – do not care about your brand awareness or growing sales. There is zero news value in those.

So, what are newsworthy company announcements? Think about mergers and acquisitions, funding rounds, new partnerships, upcoming events, product launches, new staff hires and community and charity participation. News about mergers, acquisitions and funding rounds have especially high news value and can almost always guarantee press coverage if the press release is written professionally.

For an Atlanta-based 3D printing technology startup that just acquired a key competitor, the PR campaign successfully leveraged this news and got coverage in top trade publications such as 3DPrint.com, Fabbaloo and 3D Printing Industry.

Don’t break the news yourself

When you plan to launch a PR campaign, hold off on publishing your news online yourself. I’ve had clients who plan to distribute a press release announcing their company’s news that was published online a while ago. Business owners need to understand that once you publish the news on the internet, it’s considered old news, and no media outlet wants to pick up on old news. Always let the media break the news for you.

Newswires: To use or not to use?

Many press distribution services and newswires claim to send your press release to thousands of journalists and guarantee publication of your press release on 150-plus sites for as little as US$50. Sounds fantastic, right? Quite a few clients have asked whether to use these distribution services. My recommendation is, “Don’t waste your money.”

Most of these newswires publish your press release on spammy sites that no one knows about and have zero traffic. You can publish anything you want – even your upcoming BFF anniversary if you like. Why? Because no one sees it anyway.

If you pay close attention, most of these sites don’t even get indexed by Google or get your press release published on the root domain (for example,  feed.nytimes.com or www.nytimes.newspapers.com instead of www.nytimes.com).

Unless you know a reliable press distribution service that can guarantee publication on the root domain of well-known news sites and ensure that it’s indexed, you can probably achieve more publicity with a post on your own LinkedIn profile.

Make life easy for editors

When you write a press release, make sure it’s written in a format that is applicable to your market and free from any errors. Nothing is more frustrating for editors than having to fix your article because it’s full of typos and spelling errors. Chances are, they will just reject your story completely.

Also, most publications have specific requirements about what they are willing to accept in terms of topics and formatting (e.g., word counts, tone, attachments, etc.) Please read those requirements carefully and give them what they ask. The Washington Post, for example, only accepts op-eds that are exclusive to them, and they prefer the pieces to be less than 750 words. Sending a piece that is too long and has been sent to multiple outlets already will just reduce your chances.

Whom to pitch

A common misconception is that you should always pitch your story to individual editors and contributors. This is not necessarily true unless you have a strong relationship with the editor; otherwise, it can be more effective to pitch to the editorial department instead.

Also Read: Embracing global entrepreneurship: Redefining startup success beyond Silicon Valley

Why? It’s simply more practical. If it’s a sizable outlet, chances are that there are multiple editors covering similar topics. So, who do you pitch in that case? Plus, editors and contributors are busy people with many engagements and priorities. Even when they express interest in your story, it can take a long while before they can actually attend to it.

That’s why you should consider pitching the story directly to the editorial department. They will have someone who coordinates assignments and delegates your story to a writer who is immediately available to cover it. In my experience, sending the story to the general editorial department usually gives me coverage within one to two weeks, whereas pitching individual editors may take several months.

Leverage the PR power of other businesses and individuals 

As a startup, it can be hard to obtain publicity, especially in overseas markets where you don’t have a physical presence or publications that cover a different industry than yours. Many publishers cater to an audience in a specific geographic area or industry. If your business does not fall within their target market, they will likely ignore your story because you are not relevant to their niche.

In that case, you need to look for an element that is relevant to the publication’s target market. For example, Fourdesire, a wellness app developer from Taiwan, launched a new alarm clock app in collaboration with a well-known mobile game developer. Without this new partnership, it would be hard to get Fourdesire featured in gaming publications due to the lack of relevance. However, by leveraging the new alliance, Fourdesire was able to obtain coverage in one of the world’s biggest gaming publications, GamesRadar.

Every business can benefit from public relations. It’s not just for large corporations and multi-million-dollar companies – PR can be a game changer for your tech startup when done appropriately. It’s an effective way to get your brand the visibility it deserves and should, therefore, be part of your overall marketing strategy. It may take some time and effort to learn the tricks of the trade, but the benefits it yields are definitely worth the investment.

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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 Pro

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As Southeast Asia sets its sights on the future, one thing has become abundantly clear: artificial intelligence (AI) isn’t just a tool for innovation, it is a pivotal element of progress. In the education sector, AI is emerging as a powerful force for driving inclusion, ensuring that every learner has access to quality education regardless of their background or circumstances. While still in its early stages, the potential of AI in education is undeniable. 

The adoption of AI is gaining momentum across diverse industries, including government services, manufacturing, healthcare, agriculture, and human resources. A study by EDBI and Kearney in 2020 projects that AI could contribute a staggering $1 trillion to Southeast Asia’s GDP by 2030, underscoring its significance in shaping the region’s future. 

AI has the potential to address educational access and equity issues, especially in underserved communities and remote areas, through online learning platforms and virtual classrooms. Additionally, it empowers teachers to develop clear and concise study materials, expand opportunities for student-educator interaction, and tackle specific student challenges. 

For instance, AI-based adaptive learning platforms can analyse students’ strengths, weaknesses, and learning styles to provide tailored content and assistance, catering to different learning preferences and abilities. Additionally, algorithms can automate quantitative grading, provide learning assistance, and generate educational materials, driving innovation and advancement in education.

AI for a future-ready workforce

Many countries in Southeast Asia have developed national strategies to drive AI advancement, with a focus on capacity development. For example, Thailand’s National AI Strategy and Action Plan 2022–2027 advocates for an efficient ecosystem fostering AI development and application. This includes initiatives to promote AI education through dedicated scholarships and aims to establish an international accreditation system. Similarly, fostering AI talent is a strategic objective of Malaysia’s National Artificial Intelligence Roadmap 2021–2025, aiming to promote an inclusive understanding and knowledge of AI principles in schools and to provide opportunities for skilling and reskilling.

Also read: Driving innovation and growth in Southeast Asia with Employment Hero

AI in education is pivotal for bridging talent gaps and offering essential upskilling opportunities to vulnerable workers. Recently, Singapore unveiled its second National Artificial Intelligence Strategy, emphasising substantial investments in adult education and training to equip workers with the skills needed to leverage AI effectively. The country also targets a threefold increase in its AI workforce, aiming to reach 15,000 practitioners within the next three to five years.

With strategic investment and careful implementation, AI can significantly enhance inclusion in education throughout the SEA region. However, some challenges need to be addressed.

Challenges in inclusive education

While AI has made inroads into education, its transformative potential remains largely untapped. The integration of digital technology in educational settings has been gradual and inconsistent, with varying effects across different contexts. Factors such as socioeconomic status, community demographics, teacher readiness, educational level, and national income contribute to the disparities in AI adoption and effectiveness.

One of the primary barriers is the digital divide, which refers to inequalities in internet access and technological infrastructure that impede fair access to AI-driven educational resources and tools. According to a UNESCO report, on average, 57% of students in Southeast Asia have access to the internet at home. However, the figures vary significantly across countries. For instance, only 16% of students have access in Cambodia, while a majority of 98% do in Singapore.

The report highlighted that while mobile internet is the most accessible form of connection in SEA, it often does not support educational applications. In 2022, active mobile broadband subscriptions averaged 101 per 100 people.

Also read: OceanBase INFINITY 2024: Pioneering Indonesia’s digital economy

Digital infrastructure in Southeast Asia has witnessed growth in recent years, although the pace of expansion differs from one country to another. For instance, in Thailand, over 97% of schools now have internet access, with an average of 17 students sharing one computer in each school.

In Southeast Asia, the response to AI in education ranges from cautious to increasingly receptive, reflecting a growing interest in integrating it into educational tools and platforms. Countries like Singapore and Indonesia are actively adopting generative AI to improve learning experiences. However, there are concerns about data privacy and security, as well as the ethical implications of using AI algorithms to make educational decisions.

Moving forward, it is crucial for policymakers, educators, and technology developers to collaborate and ensure that AI initiatives in education are guided by principles of equity, transparency, and accessibility.

By embracing AI technologies and addressing the challenges, we can build a more inclusive and equitable education system that empowers learners of all backgrounds and abilities.

Get to know Thanit Apipatana

Thanit Apipatana is a Bangkok-based entrepreneur, investor, and startup advisor with a keen interest in venture building, real estate, F&B, sports and philanthropy. Mr Apipatana has advised and invested in a number of companies across the region, including Singapore-based proptech startup Mogul.sg and Thai-based Life Below Labs. As a thought leader, Mr Apipatana shares his insights on entrepreneurship, F&B, education, sports and the social sector.

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In Southeast Asia’s energy sector, fossil fuels continue to dominate, comprising around 83 per cent of the region’s energy mix and largely overshadowing the 14.2 per cent contribution from renewables. Among these, solar energy remains notably underutilised. While Vietnam has made significant strides, achieving an impressive 20.5 per cent share of its power from solar, Indonesia still lags substantially, with less than one per cent.

Roughly 40 per cent of Indonesia’s off-grid areas are scattered across islands beyond Java. It is unlikely that the national grid will reach most of these places soon. This complicates infrastructure development but also encapsulates a broader challenge facing the region: harnessing its abundant renewable resources effectively.

For those less familiar with energy terminology, a one-gigawatt power plant produces enough energy to power approximately 750,000 homes. There are 1,000 gigawatts in a terawatt, and our global civilisation currently runs on around 17.7 terawatts of power from all energy sources—oil, coal, natural gas, and alternatives such as solar, wind, hydropower, and others.

Southeast Asia-based climate investor Helen Wong is Managing Partner at AC Ventures. She recently joined an episode of Indonesia Digital Deconstructed to discuss the outlook on solar energy in Indonesia. As Southeast Asia’s most populous country, it accounts for 40 per cent of the region’s power consumption.

Early retirement of coal

The regional prospects for solar energy are compelling. Southeast Asia has a technical potential of 17 terawatts—more than 20 times the capacity needed to meet the net-zero emissions target of 2050—yet current renewable energy capacity stands at a mere 99 gigawatts.

Against this backdrop, opportunities are afoot and investors are already hedging their bets today in the region’s renewable energy space.

The Just Energy Transition Partnership (JETP) for Indonesia was launched in November 2022 at the G20 Leaders’ Summit in Bali. It is an agreement to mobilise an initial US$20 billion in public and private financing to decarbonise the nation’s energy sector. The country resolved to accelerate renewables domestically, with a recently revised target of achieving 19 per cent-21 per cent renewable energy by 2030.

A big part of the plan involves the early retirement of Indonesia’s coal plants, which currently account for a staggering 60 per cent of the local energy mix. To bridge the inevitable production gap, an aggressive ramp-up in renewable energy investments is required, targeting an annual generation of 36 gigawatts from solar photovoltaics alone, a sevenfold increase from the investments recorded between 2018 and 2021.

Also Read: E-motorcycle adoption in Indonesia: How to tap into this US$19.2B opportunity

Wong explained, “The urgency to do something about climate change is clear, especially in Southeast Asia. Looking at Indonesia, specifically, part of the problem is that there has historically been an overinvestment in coal which has resulted in a surplus of cheap electricity. In this sense, the JETP discussion should be viewed as encouraging for global climate investors.”

She added, “That said, the regulatory framework in Indonesia still has to contend with a lot of subsidies still going to fossil fuels, particularly coal, which at the moment makes it quite difficult for solar to compete. PLN, which manages the grid, is the only off-taker for solar energy, and currently, they are not too keen to actually purchase more solar energy.”

Starting with commercial and industrial

Optimistic about the outlook of solar energy in Indonesia over the next decade, Wong shared that ACV most often comes across new ventures that fall into a few distinct categories.

She explained, “We most often see three types of solar projects: utility-scale, which requires large capex and has fluctuated according to the tenders from PLN; the commercial and industrial subsector, where companies can build or lease on-site renewable power plants for self-consumption; and residential, which currently is a bit harder to scale.”

Wong added that the most promising subsector in Indonesia’s solar energy market right now is the commercial and industrial space. “Xurya, our portfolio company, is the largest player in Indonesia’s commercial and industrial market today, supplying clean power to multinationals. They currently have a capacity of about 200 megawatts.”

Also Read: The 15 Indonesian startups that have given us reasons to keep believing in the ecosystem

When asked how investment firms evaluate the opportunity of solar energy projects in emerging markets like Indonesia, Wong replied, “In Southeast Asia, solar energy is still at a very early stage. The key is in originating the right projects and ensuring that financing costs allow for a good internal rate of return. We look at the internal rate of return of a solar project and the overall payback period. Regarding subsidies, while nice to have, they can lead to market volatility, and solar prices have come down so much that they are close to parity with fossil fuels.”

Backing the winners in solar

Wong pointed to the use of solar yield optimisation tech like trackers and software that assesses the suitability of rooftops for solar installations, underscoring these as enhancements rather than fundamental solutions. She also mentioned the use of IoT in auditing renewable energy projects, which is becoming increasingly vital as green financing grows, supporting the need for detailed auditing to facilitate loan approvals and attract necessary debt financing alongside equity in the investment landscape.

“Financing is quite critical as the initial costs for solar projects are substantial. As investors, we need to understand how long the company can manage the payback of their initial investment and how they handle their cash flows,” she explained.

“Once these projects scale and mature, they can look to securitise the assets. Fortunately, we see considerable support from development finance institutions. We are optimistic about the potential for more blended financing solutions, possibly with guarantees of first loss from entities like the World Bank, which would significantly bolster the industry.”

On the topic of what needs to happen for broad solar implementation to accelerate in Indonesia, she brought up the nation’s power grid. Increased grid connection between the nation’s main islands is likely to be achieved by 2028 at the earliest.

“More than US$300 billion is needed not just in distribution but also in transmission for renewable energy,” said Wong. “The grid needs to be upgraded to be able to handle more intermittent sources of energy like solar. In the context of venture investing, we at ACV are keen to back the winners in this space and help with the imminent energy transition in Southeast Asia at large.”

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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: AC Ventures

The post An investor’s outlook on solar energy in emerging Asia appeared first on e27.

In May, UK-based AI company Fetch.ai announced a merger with SingularityNET and Ocean Protocol to form the Artificial Superintelligence Alliance, a move that it described would create the largest independent player in AI research and development.

The Alliance aims to complement big tech’s dominance in AI by developing a scalable, decentralised AI infrastructure, accelerating the path toward Artificial General Intelligence (AGI) and Artificial Superintelligence (ASI). With this merger, their tokens will merge into the Artificial Superintelligence token ($ASI).

“Decentralisation is an interesting and useful tool to deploy to these solutions at scale. And that is what we are trying to do,” Humayun Sheikh, CEO & Founder of Fetch.ai and ASI Chairman, told e27 at the sidelines of the SuperAI event at Marina Bay Sands in Singapore on June 6.

“It is not a matter of which one is going to a better [approach] than the other, because in some cases it will definitely be better while in other cases, it will be less efficient. Both are going to make this space grow.”

Fetch.ai builds open infrastructure for intelligent, connected applications, empowering developers and businesses to create, deploy, and monetise next-generation AI agents.

In our conversation, Sheikh explained more about the objectives of the Superintelligence Alliance and its current roadmap.

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

The following is an edited excerpt of the conversation:

What specific problem does the initiative aim to tackle?

AI is here to stay. People are going to build AI and AI-first solutions. Rather than making old technology fit in with the new AI paradigm, you need to build solutions from the ground up. So, you need to build solutions that use AI right from the beginning.

So, if we say that it is what will happen, then we need tools and platforms to build with. That is the solution we provide.

What will be your first project from this initiative?

We have already got plenty of projects out there, so it is not like we are building one big project. There are multiple tools that are already available, and it is not going to be one specific launch. We are just going to keep releasing technology as we build it.

We will launch some very interesting solutions for small and medium-sized businesses (SMBs) within a few months.

We have already launched an AI-first, agent-based recruitment solution. We will be helping small businesses onboard onto AI, so we are building solutions for that. Our focus is mostly on SMBs who do not have the resources to build their own models or spend huge amounts of money building AI solutions but could still benefit hugely from this new technology.

What is your user acquisition strategy, especially for SMEs?

We have a very big community. When we put all these three projects together, we have half a million community members, plenty of people who know what the project is. So, it is not that we need to start from the beginning.

Also Read: Will China lead the Artificial Intelligence game by 2030?

We already have a developer community working on these projects. So, the acquisition strategy is to keep releasing more technology and products and onboarding more people.

When it comes to acquiring users, are there any specific challenges that you are facing?

The challenge when new technology arrives is always the legacy systems, and legacy systems do not go away very easily. So, you need to find a fit. You have to try and work with what you have and develop new things around it. That is going to be the challenge.

But the good thing is that, with AI on the rise and everybody understanding that there is value to be captured, we are seeing a much better reception than what we have seen in past technologies.

Do you have any plans for the Asian market, particularly Southeast Asia?

Yes, Asia is one of the biggest targets for us.

If you think about legacy infrastructure, Singapore has a mature infrastructure, but if we are talking about it, let us just say, India’s technological infrastructure is still very weak. It opens up a very interesting marketplace for AI to penetrate as you do not have the hindrance of legacy infrastructure. You can build new solutions in new ways, which can be very difficult when you have a mature legacy infrastructure. This is why Asia is a very important target for us: because of its scale and ability to deploy a solution quickly.

We will focus heavily on Asia Pacific countries. We are looking into India, Pakistan, and perhaps Thailand and Indonesia, where the technology is still in its infancy, although we have plenty of developers there.

The post Why Asia provides exciting opportunities for Artificial Superintelligence Alliance to scale appeared first on e27.

One in every ten Singaporeans wish to enrich their careers through learning and development, but only one in five say that their employer has provided such an opportunity. This sad reality of the workforce urges us to look deeper into the lack of training opportunities and understand what employees actually want. 

In 2022, 22 per cent of respondents reported that their employers had provided opportunities for training and upskilling. These statistics shed light on a significant issue plaguing Singapore’s workforce — the lack of upskilling opportunities. With 73 per cent of employees stating that training is important to them and a majority needing it to improve their soft skills, technical skills, and overall career development, the demand for upskilling is clear.

Understanding the challenge

Corporate training, or the opportunity for employees in a company to learn new skills to improve aspects of an organisation, is crucial for personal growth and economic advancement of the company. However, despite Singapore’s reputation as a hub of innovation and education, many Singaporeans are not receiving sufficient upskilling opportunities. As industries evolve and technology advances, the skills required for jobs also change. Moreover, 32 per cent of Singaporean workers are looking forward to receiving support for upskilling and reskilling.

Unfortunately, many workers find themselves lacking the necessary skills to adapt to these changes. Moreover, accessibility and affordability are significant barriers to upskilling for many Singaporean companies. While there are various training programs available, not all companies can afford the time and cost associated with them for training their employees.

Additionally, some may face difficulties accessing these programs due to geographical constraints or lack of awareness. As a result, a significant portion of the population remains underserved in terms of upskilling opportunities.

Also Read: Bridging the skills gap: Empowering companies in Malaysia for success

Ultimately, upskilling and reskilling are crucial for personal and economic growth, and urgent action by employers is necessary to ensure Singaporeans stay competitive. As such, there are many things employers must ensure before signing up for training, such as checking the credentials of the provider and setting up a schedule that works for all workers. 

Understanding the mindset of today’s workforce in terms of upskilling demands

Singaporean workers exhibit a strong eagerness to embrace upskilling opportunities. Many recognise the importance of staying relevant in an ever-changing job market. They understand that acquiring new skills not only enhances their security at their workplace but also opens doors to new opportunities for personal and professional growth.

On the other hand, there may be a perceived lack of clarity regarding which skills are most in demand and how to acquire them in the best way. With industries evolving at such a rapid pace, employers may feel overwhelmed by the sheer volume of information and options available to them for their employees. This can lead to a sense of uncertainty and indecision, making it challenging for employers to chart a clear path for their employees’ upskilling journey. 

I strongly believe that learning looks different for everyone and unique concepts are designed nowadays for employers to be able to access different training details from different training providers for more strategic training planning.

For example, through recently developed customisable courses, employers can request courses, and training providers are able to devise their proposals to these requests, leading to an eventual near-perfect match between an employer and a training provider. 

Also Read: The future is skills, not jobs

Benefits of engaging in upskilling courses

• Enhanced job satisfaction: Engaging in upskilling courses enables individuals to bridge the gap between their professional interests and passions, thus fostering a deeper sense of fulfilment and motivation within their work. By acquiring skills that directly align with their career goals and personal interests, employees are more likely to find their work meaningful and rewarding. 
• Adaptive learning methods: Embracing flexible learning modalities, such as online courses, webinars, and micro-learning modules, allows individuals to engage in continuous learning without significant disruptions to their daily routines. These platforms emphasise practical, hands-on learning experiences developed by industry experts with years of experience. By providing self-paced learning opportunities, modern academies and training platforms empower professionals to enhance their skills and knowledge at their own convenience, ultimately leading to more effective learning outcomes.
• Tailored development: Tailoring development plans to align with the unique aspirations and learning objectives of employees is crucial for enhancing engagement and motivation. By considering factors such as the employee’s demands, existing skillset, and job description, employers can demonstrate a commitment to individual growth and empowerment. This personalised approach not only fosters a positive learning environment within the company but also contributes to overall employee satisfaction and retention.

Final thoughts

In conclusion, the pressing need for upskilling opportunities in Singapore’s workforce underscores the importance of addressing the skills gap and providing accessible, efficient avenues for continuous learning and professional development.

By leveraging digital training courses and platforms, employers can enhance their company’s performance, adapt to evolving industry demands through flexible learning methods, and benefit from personalised development plans.

It is imperative for employers to prioritise upskilling initiatives to ensure the competitiveness and well-being of Singaporean workers in the ever-changing job market landscape.

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Remember when COVID-19 was a thing? Remember when travelling basically stopped for a year? Or was it two?

I’m sure you’ve had your ‘revenge’ travel since then. In fact, most of the world has.

After a few tough years, international tourism as a whole is finally bouncing back to pre-pandemic levels, with Asia Pacific (APAC) looking to regain the top spot as the world’s largest regional travel market by 2025.

In 2023, a whopping over 516 million tourists visited the APAC region. Interestingly, Gen Z and Millennials are hungry for travel more than ever — making up a significant 50 per cent of those APAC travelers.

Asia Pacific: Home to half of the world’s top 10 hottest destinations

APAC is on fire (not literally, and putting climate change aside), having five of the world’s top ten trending tourist destinations (based on the increase in tourism transactions over the last year, ending March 2024).

Japan takes the #1 spot globally, welcoming an impressive over three million international visitors in March 2024 alone, a record high even before peak travel season. The favourable exchange rate, the lowest since 1990, likely fueled this boom.

Also Read: Introducing BAE: The world’s first AI travel companion by BuzzAR

The land down under, Australia (my home), is on an uphill climb to the top. If Australia’s natural landscape, Tiffany-blue oceans, and kangaroos aren’t enough to attract global tourists, the World Economic Forum’s latest ranking has named Australia one of the top five countries for tourism and travel in 2024.

Thailand is also expected to fully recover its pre-pandemic tourism levels this year, with travellers flocking to its beautiful beaches, vibrant culture, and affordable prices (and, of course, for the Michelin street food, too).

Southeast Asia is on the rise!

Southeast Asia, in particular, is a hit with Gen Z travellers, who love its affordability, stunning natural beauty, and cultural experiences. From the colourful lanterns of Hoi An in Vietnam to the Songkran ‘water splashing’ festival in Thailand, there’s no shortage of ‘Instagramable’ moments to be had. And with its rich culture and friendly locals, it’s no wonder Southeast Asia is a favourite among young travellers.

Malaysia emerged as the most popular destination in Southeast Asia last year, welcoming 29 million visitors and claiming the top spot from Thailand, which held the title pre-COVID-19.

In an effort to attract even more foreign tourists, Southeast Asian countries have been competing to offer the most flexible immigration policies since 2023. Malaysia, for example, began allowing 30-day visa-free entry for citizens from mainland China and India from December 1, mirroring a similar policy in Thailand, while Vietnam granted three-month tourist visas for citizens from all countries (finally) starting mid-August.

Also Read: Will climate change force us to re-imagine travel in the future?

What about domestic APAC travellers themselves?

APAC internal travel has rebounded more quickly than international. For example, top destinations for Singaporeans include Bangkok, Kuala Lumpur, and Perth.

Millennials and Gen Zs are also increasingly opting for shorter, intra-regional trips, with 60 per cent preferring to travel domestically and 30 per cent within the Asia Pacific region, according to Klook survey report. Japan, Thailand, and Singapore are the top three destinations on their wish lists, with a growing desire to explore new experiences and cultures.

What does this mean for travel businesses and startups?

Travel is a right, not a want!

The booming popularity of the Asia Pacific and Southeast Asia as top travel destinations presents a melting pot of opportunities for travel businesses and startups. This isn’t just an opportunity; it’s a call to action. To thrive in this vibrant market, businesses need to understand and adapt to the evolving travel preferences of different generations.

Understand that different generations travel differently

Each generation has its own way of exploring the world. Millennials and Gen Z travellers are often on the hunt for adventure and those perfect Instagram shots. Think of rooftop bars in Bangkok, hidden waterfalls in Bali, or street food tours in Hanoi. On the flip side, Baby Boomers and Gen X might be more interested in cultural experiences and comfort – envision luxury cruises through Halong Bay or guided historical tours in Kyoto. The key is to identify your target audience and tailor your offerings to match their travel vibes.

Social media is inspiring travel and creating FOMO

Picture this: a stunning photo of Cebu goes viral, and suddenly, everyone wants to book a trip. Tap into influencers and travel bloggers who resonate with your brand. Authentic stories and eye-catching visuals are your ticket to attracting a global audience. Travelers today want more than just a vacation – they crave experiences that are tailored to their interests!

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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.

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The mortgage industry, traditionally characterised by paper-heavy processes and face-to-face interactions, is undergoing significant transformation. Driven by technological advancements and shifting consumer preferences, mortgage companies are increasingly adopting automation and phygital (physical plus digital) models to streamline operations, enhance customer experience, and maintain a competitive edge.

This article delves into how these innovations are shaping the future of mortgage lending.

The rise of automation in mortgage processing

Automation is becoming a cornerstone in the mortgage industry, promising to simplify and expedite the entire loan process. From initial application to closing, numerous stages of the mortgage journey are being automated to reduce manual workload and improve accuracy.

One of the most significant impacts of automation is evident in the loan application process. Digital platforms now allow prospective borrowers to complete applications online, significantly cutting down the time required compared to traditional methods. Automated systems can instantly verify information, check credit scores, and assess risk, providing pre-approval decisions within minutes.

Also Read: The D&I advantage: How inclusion fuels growth in Vietnamese real estate

Reducing operational costs

By automating repetitive tasks, mortgage companies can significantly cut operational costs. Automation reduces the need for extensive paperwork and manual data entry, lowering labour costs and minimising the risk of human error. This efficiency not only speeds up the process but also allows companies to allocate resources more strategically, focusing on customer service and business growth.

The emergence of phygital models

As technology advances, the line between physical and digital experiences blurs, giving rise to the phygital model. This hybrid approach combines the best aspects of physical and digital interactions to provide a seamless and flexible customer experience.

Phygital’s models enable customers to switch effortlessly between online and offline channels. For instance, a borrower might start their mortgage application online, upload necessary documents via a secure digital portal, and then visit a physical branch if required by the lender for any necessary paperwork or document signing. This flexibility caters to varying customer preferences and provides a comprehensive service offering.

By integrating digital tools with physical branches, mortgage companies can offer enhanced customer engagement. Virtual consultations, augmented reality (AR) property tours, and mobile app features are just a few examples of how digital enhancements can complement face-to-face interactions. These tools provide customers with more control and convenience, leading to higher satisfaction levels.

Leveraging data for personalised services

The phygital approach also allows mortgage companies to gather and analyse customer data more effectively. This data can be used to personalise services and offerings, tailoring mortgage products to meet individual needs.

For example, predictive analytics can identify when a customer might be looking to refinance or purchase a new property, allowing for timely and relevant communication.

Also, automation reduces the time taken for loan processing, allowing customers to receive decisions faster. The convenience of completing applications and uploading documents online, coupled with the option for in-person support, caters to modern consumers’ demand for speed and flexibility.

Also Read: Hong Kong proptech innovators are reshaping the real estate landscape for GenZ

Digital platforms provide customers with real-time updates on their application status, enhancing transparency. Automated systems ensure that decisions are based on accurate data and consistent criteria, fostering trust in the process. Customers can track their progress, understand the next steps, and feel more in control of their mortgage journey.

Challenges and considerations

While the adoption of automation and phygital models brings numerous benefits, mortgage companies must navigate certain challenges to fully realise their potential. With increased reliance on digital platforms comes the responsibility of safeguarding customer data. Mortgage companies must invest in robust cybersecurity measures to protect sensitive information and maintain customer trust.

Despite the efficiencies of automation, the human element remains crucial in mortgage lending. Companies must find the right balance between technology and personal interaction, ensuring that customers can still receive expert advice and support when needed.

Implementing new technologies requires significant investment and can be complex. Mortgage companies must ensure seamless integration with existing systems and provide adequate training for employees to maximise the benefits of automation and phygital models.

The road ahead

The adoption of automation and phygital models is reshaping the mortgage industry, offering numerous advantages in terms of efficiency, customer experience, and operational cost savings.

While challenges remain, the ongoing integration of these innovations promises a more streamlined, accessible, and personalised mortgage process. As technology continues to evolve, mortgage companies that embrace these changes will be well-positioned to meet the demands of the modern consumer and stay ahead in a competitive market.

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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.

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Dear reader,

ByteDance’s decision to expand its data centre facilities in Malaysia with an additional MYR 1.5 billion (US$320 million) investment marks a significant milestone for the country’s digital economy.

By choosing Malaysia as its regional AI hub and proposing an investment of MYR 10 billion, ByteDance demonstrates confidence in the nation’s growing tech infrastructure. The announcement, made by Malaysia’s minister of investment, trade, and industry Tengku Zafrul Aziz, underscores the country’s strategic importance in the competitive data center market in Asia.

This expansion is poised to help Malaysia reach its ambitious goal of having the digital economy contribute 22.6 per cent of the GDP by 2025. Johor, already a hotspot for data centre investments, benefits further as ByteDance anchors the Bridge Data Centres’ MY06 facility.

This move aligns with Malaysia’s broader trend of attracting substantial investments from global tech firms, as evidenced by other major projects such as Princeton Digital Group’s and GDS’s developments.

The surge in data centre activities, supported by companies like ByteDance, positions Malaysia at the forefront of APAC’s fastest-growing data centre markets. With a robust development pipeline promising 600 per cent capacity growth over the next five years, Malaysia is solidifying its role as a key player in the regional and global digital economy.

Sainul,
Editor.

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NEWS

Singapore, Jakarta top startup ecosystem rankings despite funding slowdown
Singapore has improved its ranking from the 2023 report, moving up to the #7 Global Startup Ecosystem; From July 1, 2021, to December 31, 2023, Singapore’s startup ecosystem generated US$144B in Ecosystem Value.

Korean firm raises US$18M to expand ‘AI super app’ in Middle East, SEA
Wrtn Technologies helps users with tasks such as editing and conducting research, and it can also act as a creative partner and developer; Its AI Search feature enables users to ask about the latest news, providing real-time information.

Seaplane Asia lands investment to expand in Southeast Asia
The investors are TK & Partners and A2D Ventures; Seaplane provides air charter and amphibious seaplane services to connect remote islands and coastal areas; Its services aim to enhance accessibility, reduce travel times, and minimise environmental impact.

BNB value jumps as Binance founder CZ begins jail term
BNB’s price jumped to US$717.99 as of June 7 from a US$620.49 low on June 3, taking its market value to US$109B; CZ went to a California prison on money laundering charges and agreed to a US$50M personal fine.

US firm invests over US$20M for APAC digitalisation hub in the Philippines
SID Global Solutions prepares companies for digitalisation by providing services such as customer experience analytics, supply chain management, HR platforms, and financial planning and analysis, among others.

ByteDance plans US$2.1B investment in Malaysia for AI, minister says
The TikTok parent will set up an AI hub in the country; ByteDance will also expand its data centre facilities in Malaysia’s Johor state through an additional US$318 million investment, Minister Tengku Zafrul Aziz said.

Thailand to bridge local startups to European market with Berlin alliance
Thailand’s National Innovation Agency (NIA) has partnered with ABF to propel the expansion of local startups to Europe; The two organisations signed an MoU to develop innovation networks and investment channels, especially for AI startups.

Julo plans neo-banking push, eyes full profitability by year-end
In a statement announcing its neobanking ambitions, the company also said that its loans issued grew 87.19% year on year in the first four months of 2024, reaching over US$189M; It expects to issue more than US$650M this year.

Uber loses challenge to California gig work law in US appeals court
A US Circuit Court of Appeals in San Francisco upheld a lower court ruling that said Uber failed to show that the 2020 state law known as AB5 unfairly singled out app-based transportation companies while exempting other industries.

Musk warns that he will ban Apple devices if OpenAI is integrated at OS level
Apple had announced a partnership with OpenAI to bring the ChatGPT technology to its devices; Apple said it had built AI with privacy “at the core” and it would use a combination of on-device processing and cloud computing to power those features.

Dubai startup Stake nets US$14M to open Saudi real estate investments to global users
The investors include Middle East Venture Partners, Wa’ed Ventures, and Al Jomaih Holding; Stake is a digital platform that allows investors across the globe to tap into income-generating real estate deals in Dubai.

FEATURES

Securing bank financing for scaling our EV fleet is hard in Philippines: Mober CEO
Banks in the archipelago are still familiarising themselves with the EV logistics industry; By educating financial institutions about the benefits and viability of EV logistics, the firm aims to secure the necessary financing.

FROM OUR CONTRIBUTORS

Greener rides, faster service: How swappable battery e-bikes are revolutionising SEA
E-bikes are seen as the greener ride-hailing option, with swappable batteries offering faster charging and less environmental impact.

Singapore’s growth engine: Riding the waves of regionalisation and globalisation 4.0
To stay ahead of the curve, businesses in Singapore must act decisively, take calculated risks, and fully harness the potential of digital technologies.

Tech career switch: A woman’s guide to upskilling and advancement
Supporting initiatives that empower women to upskill and pursue tech careers will help achieve equal representation and recognition.

An investor’s outlook on solar energy in emerging Asia
In SEA, solar energy is in its early stages, with the key being to originate the right projects and ensure financing costs allow for a good internal rate of return.

Unbanked and underserved: SEA’s vast digital remittances opportunity
SEA’s digital growth now includes 460 million tech-savvy consumers and a market projected to reach US$1 trillion by 2030.

FROM THE ARCHIVES

Starting with a clear culture in mind is vital for companies: Huy Nghiem of Finhay
‘Short-term financial stability is as important as long-term goals; If we cannot meet the former, we can’t meet the long-term goal either’, says the Finhay CEO.

Running on empty: What happens when AI models run out of data?
As AI continues to infiltrate every industry, it’s essential that technologists collaborate to find innovative solutions to tackle the challenges of data shortage.

Understanding the difference between Web3 and metaverse
While we find the difference between Web3 and metaverse, they offer users a unique way to communicate and engage with others online.

NFTs for fundraising: What you need to know before jumping on the bandwagon
When it comes to using NFTs for fundraising, there are success stories, but there are also lessons for the rest of us.

What Choco Up wants you to know about running a revenue-based financing platform in Asia
Choco Up combines the use of technology and human touch in supporting the startup ecosystem. Find out how they do it.

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