Singapore’s artificial intelligence (AI) landscape is experiencing a dynamic transformation, positioning the city-state as a leading global hub for AI innovation and application. With substantial investments flowing into the sector, Singapore has become a fertile ground for AI startups and established companies alike, driving advancements across various industries.

In finance, companies like TSLC and Trusting Social are at the forefront, leveraging AI to provide digital banking services and sophisticated credit scoring systems. The healthcare sector is also witnessing significant AI integration, with Holmusk utilising predictive analytics for mental health and Us2.ai offering real-time echocardiogram analysis to detect heart risks.

Retail and e-commerce are not left behind, with Neso Brands and ViSenze pioneering augmented reality and visual search tools to enhance customer experiences and drive sales. Companies like Wiz Freight, which employs AI for efficient freight forwarding solutions, are revolutionizing the logistics and transportation industries.

Environmental sustainability and space technology are also seeing AI applications, as demonstrated by UMITRON’s AI-driven aquaculture solutions and Infinite Orbits’ autonomous satellite services.

These innovations are supported by substantial funding from top-tier investors, including venture capitalists, institutional investors, and government initiatives.

Overall, Singapore’s thriving AI ecosystem is characterized by its diverse applications, robust investment landscape, and collaborative environment that fosters continuous innovation, solidifying the nation’s reputation as a powerhouse in the global AI arena.

Also Read: Beyond the hype: Taking Gen AI mainstream with next-level automation

Here are the island nation’s top 30 funded AI innovators transforming industries (Special thanks to data intelligence platform Tracxn):

TSLC

TSLC specialises in providing digital banking services for underserved individuals. The firm has developed an artificial intelligence-based integrated credit-led financial wellness platform and uses AI and machine learning (ML) technology to predict customer behaviour.

The startup’s services include savings wallets and physical and virtual credit cards for online and offline purchases, bill payments, and money transfers.

Total funding raised: US$225 million
Investors: JPIN, Rothschild & Co, arvinvestments.com, Riverside, Victory Capital, QP Global Family
Annual revenue: Not available

Holmusk

An AI-based digital health solution and data analytics provider, it offers NeuroBlu, a platform that monitors the user’s data. Its prediction engine recommends lifestyle changes before the condition worsens. The proprietary analytical tools work on real-world data to recognise disease progression. The EHR system is designed to capture and monitor decisions and is combined with past mental health records.

Total funding raised: US$109.3 million
Investors: Veradigm, Heritas Capital Management, Health Catalyst Capital, dRx Capital, Northwell, Optum Ventures, German Entrepreneurship, RISE, Enspire Capital, MadDog Ventures, JLABS
Annual revenue: US$1.1 million (as of March 31, 2018)

Neso Brands

Neso has developed AR-based virtual trial solutions for businesses. Its platform offers virtual trial solutions that enable users to try eyewear using phone cameras with AI, AR-based, and eye-tracking technologies.

Total funding raised: US$100 million
Investors: Alpha Wave Global, Temasek, KKR, and SoftBank Group
Annual revenue: Not available

Trusting Social

It is a software solution for loan lifecycle management. It offers trust scores of individuals by using artificial intelligence and alternate data with underwriting and fraud management insights, digital onboarding of customers with secure transactions by using facial recognition and AI models, and segmentation of customers for multiple consumer loan products.

Total funding raised: US$84 million
Investors: Masan Group, sherpapullovers.com, The Sherpa Company, 500 Global, Beenext,
Peak XV Partners, Kima Ventures, 500 Fintech, Ascend Vietnam Ventures, Tanglin Venture Partners, Genesis Ventures, scifinancial.com
Annual revenue: US$23.6 million (as of December 31, 2021)

Silent Eight

It is an AI-based fraud management platform that enables users to scan data sources in variable formats, including local and remote online news articles. The firm offers solutions for automated alert adjudication, name screening, transaction screening, and transaction monitoring.

Total funding raised: US$61 million
Investors: TYH Ventures, HSBC, OTB Ventures, Wavemaker Partners, SC Ventures, Aglaia, Crystal Horse Investments, Joyful Frog Digital Innovation, others
Annual revenue: US$2.9 million (as of March 31, 2022)

CXA Group

Connexions Asia (CXA) provides an AI-based benefits marketplace for employer insurance. It also offers an AI-based app for people to connect with health and wellness products and services. The company features solutions for quoting, claim processing, payments, recommendations, and data insights.

Also Read: The human touch endures: Why AI won’t replace all blue-collar jobs

Total funding raised: US$58 million
Investors: Humanica, HSBC, Heritas Capital Management, MDI Ventures, Sumitomo, Openspace Ventures, Singtel Innov8, B Capital Group, Singapore Economic Development Board, others
Annual revenue: US$13 million (as of December 31, 2018)

Wiz.AI

It is an AI-based voice and speech recognition solution for multiple industries. Its talk bot platform allows users to record voice conversations with text translations and interact with real humans. Wiz.AI uses neural network technology that allows customer classification, identification of customers, and segments to prioritise follow-ups. The product features include mobile security, data management, management of mobile devices, mobile content, mobile applications, mobile security, and data leak prevention.

Total funding raised: US$58 million
Investors: Tiger Global Management, Yunqi Partners, Gaorong Capital, GL Ventures, K3 Ventures, Singtel Innov8, GGV Capital, Wavemaker Partners, Insignia Ventures Partners,
Hillhouse, Singtel, Plug and Play APAC
Annual revenue: US$1.7 million (as of December 31, 2021)

Wiz Freight

It is an AI-enabled tech-driven freight forwarding solutions provider. It provides services, such as air, ocean, and surface transportation. It has features like booking, live tracking, digital financing, collaborative shipping task management, full container and partial container load shipping, door-to-door shipping, cargo insurance, and customs and trade management.

Total funding raised: US$52.5 million
Investors: SBI Investment, Tiger Global Management, Nippon Express, Axilor Ventures, Arali Ventures, Unikon Shipping Ventures, Foundamental, Trifecta Capital
Annual revenue: US$157 million (as of March 31, 2023)

Ficus.AI

It is a provider of market intelligence solutions to offline retailers. Focus.AI’s new retail solutions aim to empower brick-and-mortar retail shops in Southeast Asia. Its customers are coffee shops, restaurants, traditional grocery stores, fashion shops, and supermarkets.

Total funding raised: US$50 million
Investor: eWTP Capital
Annual revenue: US157 million (as of December 31, 2021).

Rotimatic

Rotimatic develops fully automatic flatbread-making robots. The robot has built-in AI and IoT capabilities with a 32-bit microprocessor that harmoniously orchestrates ten motors and 15 sensors. Users load the machine with the required ingredients and select the amount of bread they wish to make, up to 20 loaves of bread in one go. It claims that the robot mirrors human judgment to adjust the proportion of flour and water in real time.

Total funding raised: US$48 million
Investors: Credence Partners, EDBI, Openspace Ventures, Robert Bosch Venture Capital, SPRING Singapore, NUS Enterprise, Enterprise Singapore, ABCOM Investments, Rikvin Ventures
Annual revenue: US$21 million (as of December 31, 2018)

Graas

It provides AI-based predictive analytics solutions for e-commerce businesses. The company’s proprietary AI engine connects data sources and generates recommendations across marketplaces, D2C websites, CRM, marketing, and the last mile. It also provides insights into product categories, sizes, stock availability, shipping, and exchanges and returns.

Total funding raised: US$40 million
Investors: Integra Partners, Yuj, A. J. CAPITAL, Kejora Capital, Orbit Capital Malaysia
Annual revenue: Not available

ViSenze

ViSenze provides AI-based visual search and recognition tools for e-tailers. It uses deep learning and computer vision techniques to conduct image extraction and recognition, adaptive machine learning, and dynamic contextual analysis. For shoppers, it enables product search and discovery on online platforms. ViSenze also recommends products based on shoppers’ product purchase behaviours and insights.

Also Read: Experts advocate thoughtful regulation for the rapid rise of Generative AI

Total funding raised: US$34.5 million
Investors: 31VENTURES, Impossible Ventures, Rakuten Capital, SPH Ventures, WI Harper Group, UOB, Enspire Capital, ICT Fund, Gobi Partners, Bright Pixel Capital, FengHe Group, Phillip Private Equity, Raffles Venture Partners, Walden International, UOB, SPRING Singapore, Tembusu Partners, Global Brain, Innoven Capital, NUS Enterprise, SEED Venture Capital
Annual revenue: US$6.07 million (as of December 31 2022)

RDC

It is a lending-as-a-service platform that leverages AI technology for credit risk scoring and decisioning with insights into borrower’s behaviour.

Total funding raised: US$32.5 million
Investors: Westpac, nCino, BMY Group, Octava
Annual revenue: US$1.4 million (as of September 30, 2022)

Taiger

Taiger provides robotic process automation solutions. Primarily serving the banking, insurance, and government sectors, the company specialises in advanced AI-engineered information access and extraction solutions. It provides solutions for automated onboarding, processing of SSIs, ISDA documentation review, claims processing, customer biodata reconciliation, NRICs & CPF statements, automatic metadata generation, and semantic search.

Total funding raised: US$31.3 million
Investors: PacificBridge Asset Management, MCM Partners, Plug and Play Tech Center, SGInnovate, ICT Fund, MS&AD Ventures, Plug and Play APAC
Annual revenue: US$2.7 million (as of December 31, 2021)

DocDoc

DocDoc is an online platform that uses AI to connect users to doctors. The platform uses HOPE, an AI-powered doctor discovery engine, to find doctors based on users’ medical needs. The platform lists information about clinics and doctors, along with their locations, clinical interests, subspecialties, procedures available, and so on, to enable users to compare and book appointments.

Total funding raised: US$29.6 million
Investors: Sumitomo Corporation, Adamas Finance Asia, Cyberport, SparkLabs Global Ventures, Vectr Ventures, Hong Leong Financial Group, KCP Capital, Jungle Ventures, 500 Global, Hong Leong, Apis Partners, RVP Group, Gaingels, Bells Ventures, Plug and Play APAC
Annual revenue: US$838 (as of December 31 2020)

Pixocial Technology

It provides Generative AI solutions for consumers, businesses, and enterprises. The platform offers photo and video editing software powered by AI technology.

Total funding raised: US$22 million
Investors: Eight Roads Ventures, FutureX
Annual revenue: Not available

Tookitaki

It is a platform offering anti-money laundering solutions. Its features include AML transaction monitoring, customer risk scoring, customer screening, regulatory compliance, case management, and customer due diligence. It also offers financial crime detection and prevention solutions for banks and fintech companies.

Total funding raised: US$20.4 million
Investors: Illuminate Financial, Nomura, Viola Group, Jungle Ventures,
SIG Venture Capital, SEEDS Capital, Enterprise Singapore, Supply Chain Angels, T-Hub, The FinLab, Rebright Partners, Blume Ventures, India Internet Fund, CIIE, Innoven Capital
Annual revenue: US5.1 million (as of December 31 2022)

UMITRON

It develops AI- and IoT-based aquaculture solutions for farms. The company enables farms to optimise their feeding practices, lowering their costs and preventing waste and environmental damage. Its technology stack includes solar-powered IoT devices deployed on aquaculture farms in the ocean to film fishes and measure patterns in their behaviour using computer vision. The solution can detect when fish are hungry through machine learning algorithms and automatically release feed for them. It also leverages satellite imagery to augment these insights by providing information about the temperature of the sea.

Also Read: Amazon to train 15K individuals in AI skills; to invest US$9B into cloud infra in Singapore

Total funding raised: US$20.4 million
Investors: ENEOS Group, QB Capital, Toyo Seikan Kaisha, Shoko Chukin Bank, Inter-American Development Bank, Mirai Creation Fund
Annual revenue: US$2.4 million (as of March 31, 2022)

SWAT Mobility

It provides AI-powered mobility solutions for employee transport management. Its routing technology derives the optimal fleet size, plans employee transport by aggregating data, and designs custom solutions tailored to personalised considerations and on-demand bookings.

Total funding raised: US$19.5 million
Investors: Nippon Express, NEC, Chubu Electric Power, IMC Ventures, G. K. Goh Holdings, Goldbell, UTEC, Global Brain, ComfortDelGro, EDBI, IGlobe Partners, Smrt Ventures, National University of Singapore, Ruvento Ventures, Momentum Ventures
Annual revenue: US$251,000 (as of December 31 2020)

Kristal

It is an AI-based asset management platform for individuals. The company offers algorithms to evaluate the risk of mutual and hedge funds. The platform enables users to create and share investment strategies. It offers a consolidated view of all portfolio investments, the historical performance of various accounts, and future portfolio projections based on CAGR and Sharpe ratio.

Total funding raised: US$19 million
Investors: Chiratae Ventures, Stride Ventures, Desai Ventures, BackStroker
Annual revenue: US$3.6 million (as of December 31, 2021)

Us2.ai

It is an AI-powered tool to detect heart risk. The company’s flagship product, Echo Copilot, provides fully automated, real-time echo reports and disease detection, supporting healthcare professionals in interpreting echocardiograms.

Total funding raised: US$19 million
Investors: IHH Healthcare Berhad, HEAL Partners, Peak XV Partners, Pappas Capital, EDBI, Partech Partners, Sequoia Capital, SGInnovate, StartUp Health, Startup SG, A*STAR, Fabrice Grinda, EPRV, Startup Creasphere, XNode
Annual revenue: US$388,540

Geniebook

It is an AI and app-based platform offering adaptive learning solutions for students. The platform can identify a child’s weaknesses and generate targeted questions. It enables users to improve their learning speed by practising questions at their own pace. Additionally, it provides worksheets, live and recorded classes, and more. Its app is available for Android and iOS devices.

Total funding raised: US$18 million
Investors: Titan Capital, East Ventures, Lightspeed Venture Partners, Apricot Capital
Annual revenue: US$15 million (as of December 31, 2022)

Silot

It offers an AI-enabled banking software suite and merchant banking solutions. Its solutions include merchant onboarding, KYC, cross-channel banking, account opening, QR-based payments, and more. Its features included AI-directed targeted marketing campaigns, and AI-enabled loan underwriting tools.

Total funding raised: US$13.7 million
Investors: Arbor Ventures, Krungsri Finnovate, Sumitomo, SBI Investment, Eight Roads Ventures, Zhen Fund, NTUitive, The Venture Center, Central Capital Ventura, Plug and Play APAC
Annual revenue: US$467,000 (as of December 31, 2021)

D.id

It is a decentralised AI-based video creation platform. The platform enables users to create AI videos of digital people from a single image. It also offers an API for integrating generative AI capabilities into other products.

Also Read: Singapore surpasses US in AI investment: Study

Total funding raised: US$13 million
Investors: CMB International Capital, HashKey Capital, Qingsong Fund, GGV Capital, GSR Ventures, SNZ, Xin Family, SevenX
Annual revenue: Not available

Infinite Orbits

It provides AI-based in-orbit satellite services and systems. Its offerings include docking systems for satellite anchorage, and plug-and-play modules for autonomous satellite tracking and navigation. It offers services like orbit guidance and control, optical tracking for satellites and collision avoidance and satellite inspection services.

Total funding raised: US$12.9 million
Investors: Newfund, European Union, IRDI Capital Investissement, SpaceFounders
Annual revenue: US$1 million (as of February 29, 2020)

MY01

MY01 is a state-of-the-art medical device that helps detect Acute Compartment Syndrome (CS), a limb-threatening muscle condition, within 48 hours following trauma. It capitalises on a proven correlation between sustained increase in Intramuscular pressures and ACS for objective, early diagnosis. MY01 operationalises muscular pressure monitoring into a simple, accurate, single-use device.

Total funding raised: US$12.6 million
Investors: Antler, Invest Quebec, Fondaction, Desjardins, MEDTEQ, OBIO
Annual revenue: Not available

bluesheets

bluesheets is an AI-powered financial data automation solution. The financial automation platform for businesses connects and automates financial data across various platforms. It processes financial data both online and offline. The firm also offers solutions for expense management and data matching.

Total funding raised: US$12.5 million
Investors: Illuminate Financial, Insignia Ventures Partners, Antler, 1982 Ventures, Kistefos, Plug and Play Tech Center, Investible, kipleX
Annual revenue: Not available

WeInvest

A wealth management solution for financial institutions, WeInvest offers multiple solutions that enable financial institutions to manage investments and asset management processes. The company offers AI-based quantitative strategies, white-label UI, and APIs.

Funding raised: US$12.3 million
Investors: Schroders, DIFC, Acer, HCapital, Lighthouse Canton, SterlingForte, SterlingForte, Integrated Management Consulting Ltd, TH Capital, Rise Team, Plug and Play APAC, Ficus
Annual revenue: US$1.3 million (as of December 31, 2020)

Neuroglee Therapeutics

It offers AI-based therapy planning solutions for neurodegenerative diseases. The platform provides evidence-based precision therapeutics by combining cognitive rehabilitation strategies and machine-learning approaches to treat neurodegenerative diseases. The investigational prescription digital therapeutic developed on the platform can treat diseases with pharmacotherapy. The AI algorithms track the digital biomarkers and perform assessments for cognitive intervention.

Total funding raised: US$12.3 million
Investors: Openspace Ventures, EDBI, Eisai Innovation, 2050 Capital
Annual revenue: Not available

Smarten Spaces

Smarten Spaces provides AI-enabled asset and space management solutions. The company offers a suite of solutions for managing tenants, digital workspaces, co-working spaces, and co-living spaces.

Total funding raised: US$12 million
Investors: Symphony Asia Holdings, Capital Group Holdings
Annual revenue: US$1.1 million (as of March 31, 2021)

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Courtesy: Tracxn

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Time in healthcare scenarios is instrumental for all sorts of reasons and will shape everything from the patient experience to the positivity of outcomes achieved by practitioners. For professionals, anything that can help them harness the time available to them more effectively is to be celebrated and adopted post-haste.

Artificial intelligence (AI) has a lot to offer in this regard, as it can conserve the precious resource that is time, while also elevating the quality of care through improved documentation practices.

With the all-encompassing influence of AI being discussed and dissected in many spheres right now, those who grasp its potential are poised for success. To prove this unequivocally, here are five ways AI tools are reshaping healthcare documentation—a change that goes hand-in-hand with an increased need for tech proficiency among medical professionals.

Providing precision in healthcare record-keeping

Accuracy is the most important aspect of effective patient care since a small error can lead to a cascade of misunderstandings, potentially altering treatment paths while compromising patient safety. There’s a lot of debate around this topic, and experts have found that around 1 out of every 20 patients is exposed to harm while in care, which could have been avoided. Artificial intelligence brings a meticulous eye to patient records that human fatigue may overlook, minimising the risks involved.

In particular, AI-driven documentation platforms analyse and cross-reference vast repositories of medical information with precision (and without needing a coffee break), ensuring that each entry in a patient’s record is both accurate and comprehensive. As part of this, they utilise natural language processing to capture nuances in diagnosis and treatment plans that might elude even the most scrupulous professional after a long shift.

So, in short, integrating AI into healthcare documentation workflows lets professionals secure an ally in the fight against unforced errors, ultimately steering patients toward better outcomes.

Reclaiming time for care

It’s been shown in an American Medical Association study that doctors dedicate almost 50 per cent of their working hours to paperwork, while 27 per cent is available to patients, and so AI medical scribes present an antidote to this imbalance, liberating clinicians from the shackles of eye-watering volumes of admin.

Also Read: Decoding digital preferences: A glimpse into the future of health tech ecosystem in SEA

These advanced tools don’t tire or falter as they meticulously document clinical visits, allowing doctors and nurses to focus their full attention on the person in front of them — the patient. Taking over routine data entry tasks allows AI to ensure that documentation is complete by the time the patient leaves the room, dramatically reducing after-hours charting.

This transition means that rather than spending late evenings or early mornings catching up on paperwork, healthcare professionals can reclaim those hours—pouring them back into direct patient care, continued education, or much-needed rest. The impact is both operationally beneficial and deeply personal for both the caregiver and receiver.

Trimming the fat from billing

In the US, administrative complexity is the leading cause of expended healthcare dollars, amounting to US$250 billion annually in a hospital context alone, according to McKinsey. One significant aspect of this complexity is medical billing and coding—a meticulous process burdened with an assortment of codes and ever-changing regulations.

AI steps into this quagmire as a streamliner, adept at navigating the intricacies of current procedural terminology (CPT) codes and International Classification of Diseases (ICD) standards with precision. Cutting-edge algorithms can identify relevant billing codes based on documented patient interactions, reducing errors and removing guesswork for healthcare providers. The end result is once again a more accurate billing process that accelerates reimbursements and decreases denials due to coding inaccuracies.

Moreover, AI doesn’t just recognise existing patterns—it learns from them. Continuously fed with data, these systems steadily improve their suggestions over time, honing the financial backbone of healthcare practices while professionals remain focused on clinical care rather than unpicking complex billing ciphers.

Optimising patient communication

Keeping communication channels clear and consistent is another integral part of the post-consultation phase. Poor follow-up practices can quickly escalate into adverse outcomes—a reality evidenced by a CRICO Strategies study indicating that a third of malpractice claims involved inadequate patient follow-ups or miscommunications.

Here, AI tools rise to the task of being an ally for closing communication gaps. They automate follow-up processes, schedule appointments, and send out reminders for both patients and providers. More so, they can personalise post-visit summaries and care instructions based on the unique details of each patient’s visit—which are often richer in detail thanks to the precision of AI documentation earlier in the process.

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

Employing such intelligent systems allows healthcare professionals to ensure no critical information falls through the cracks. Patients leave with clarity about their care plan and next steps, while practitioners have peace of mind, knowing that their communication is as effective as possible. AI thus not only enhances efficiency but also fortifies the trust between healthcare providers and those they serve by maintaining a consistent line of dialogue.

Safeguarding the sanctity of health data

Confidentiality is not merely a preference in healthcare; it’s a non-negotiable promise, underscored by the fact that cybersecurity breaches can cost up to US$9.48 million on average per incident.

AI offers a formidable defence against such threats. With advanced encryption algorithms and anomaly detection capabilities, AI systems are always on the lookout for suspicious activity without the need for constant manual hand-holding. They monitor access and usage patterns around the clock, flagging potential breaches before they escalate into crises.

Beyond its defensive role, AI contributes to confidentiality through controlled sharing mechanisms within electronic health records (EHRs), ensuring that only authorised personnel have access to specific layers of sensitive information. This discretion facilitates collaboration among medical teams while adhering strictly to privacy regulations.

The bottom line

The integration of AI in healthcare represents an inexorable shift towards a smarter, more efficient system. As AI continues to revolutionise documentation practices, the onus falls on healthcare professionals to adapt—an endeavour that necessitates advanced certifications and an enduring commitment to education.

Staying in the loop regarding technological advancements ensures that practitioners are not just keeping pace with innovation but leveraging it to enhance patient care. The marriage of medical expertise with AI acumen stands as a beacon for the future—a future where technology and human touch converge to redefine excellence in healthcare.

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Asia’s software industry has continued growing over the past decade, even during the pandemic. The region’s software industry is estimated to be worth over US$121.40 billion in revenue this year, with an annual growth rate of 7.92 per cent by 2028. New projects are in constant need of developers, especially entry-level talents who want to gain experience and start their journey toward becoming foundations for the tech boom in Asia.

These opportunities for a career in software development are not exclusive to those who finished degrees in computer programming or other related courses. While roughly 75 per cent of developers have relevant degrees for their jobs, companies such as Netflix, Spotify, and Shopify are already open to the idea of hiring self-taught developers and programmers. These individuals have learned their craft on their own, mostly through free learning resources found on the internet.

Free developer education

Free educational resources are nothing new. There are plenty of non-paid tutorials, courses, and online groups that can help self-learners get started on establishing their development or programming skills.

For structured learning, the top options include Coursera, edX, Udacity Nanodegrees, and Codecademy. Coursera and edX have plenty of free and paid courses created by top universities and companies, focusing on comprehensive, practical learning. Udacity Nanodegrees provide hands-on, project-based learning in tech-focused areas. Codecademy, on the other hand, is designed for beginners, offering a host of interactive and gamified learning resources to help learners establish strong foundations in programming.

Software development beginners who prefer tutorial-based learning can use FreeCodeCamp, The Odin Project, and several YouTube channels like Traversy Media, LearnCode.academy, and Academind. FreeCodeCamp is a nonprofit resource notable for its vast collection of free coding tutorials, including interactive exercises and projects.

The Odin Project is an open-source software development learning kit that features full-stack curricula designed with a project-based learning approach. For YouTube, programming and development-focused channels offer collections of high-quality video tutorials covering various coding languages and frameworks.

Also Read: How is open-source collaboration empowering Asia’s fastest-growing markets?

For more advanced learning, the leading choices are GitHub, HackerRank, and LeetCode. GitHub, the famous code-sharing platform, provides an expansive collection of open-source projects for fledgling developers to learn from, contribute to, or use for their projects. Meanwhile, HackerRank and LeetCode feature coding challenges and other resources that help train problem-solving skills.

Specialised and updated knowledge

One crucial factor that drives self-learning efforts for beginner developers is schools catching up on the latest development technologies. Most developers learn new technologies and expand their knowledge on their own. As data from StackOverflow and HackerRank show, at least 60 per cent of the developers are self-taught.

The rise of Web3 is fueling self-trained developers to keep up with the latest tech, including blockchain technology, decentralised apps (dApps), and innovative user interfaces and experiences. Since the 2020 bull run on digital assets, there has been a 60 per cent increase of GitHub developers building on Web3. According to Forbes, developers should consider upskilling themselves into this new sector.

Resources like EZSandbox by Koii, a community-driven decentralised computing and storage network, fill this need for free, organised learning solutions on modern development topics. Specifically intended to ease Web3 development, EZSandbox provides a systematised way to get hands-on learning experiences to develop and launch microservices with any token on the Koii network.

It features progressive lessons that start with basic tasks like distributed node creation, UPnP, and web crawling, which are useful for AI development. The lessons progress to more complex topics like software audits. Users can go through the lessons and get hands-on experiences by using their existing desktop node to experiment with tasks easily.

The platform’s developer, Koii, provides tools and resources that help developers create decentralised applications. They are also known for allowing personal devices to be used as compute nodes in executing microservices within the network, which is important in providing practical experiences for learners.

Also Read: AI is not slowing demand for software developers in the Philippines

By allowing developers to initially stage their test deployments on a network of global nodes before expanding to a larger network, Koii’s EZSandbox can accelerate the deployment time for testing new software modularly, potentially reducing costs associated with launching software to new users. This approach is beneficial for independent or small team developers who may lack the budget or resources typically needed to launch on traditional Web2 infrastructure.

The rapid growth of Web3 is not only happening in Asia. It is taking place everywhere else in the world. Gaining proficiency in Web3 development is increasingly becoming important as organisations steadily adopt it as part of their tech strategy. The good news is that there is no need to enrol in a paid course to learn it. There are many free resources to hone one’s expertise in Web3 development.

Becoming more competitive developers

There is a need for more developers in Asia, just like in other parts of the world. Even with this, it is not easy for an entry-level developer to get hired for software development work due to lack of experience and high competition.

Companies prefer experienced developers who have been building their proficiency and problem-solving skills for years. Also, companies are wary of “imposters” sending in applications and claiming to have the right skills when, in reality, they are overselling themselves.

The availability of various free online software development learning resources, especially for advanced and in-demand topics, is something many need to pay more attention to. With the rapid growth of Web3, it makes sense to consider DIY learning to keep up with new technologies using tools like EZSanbox by Koii and become more appealing to employers.

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Nika.eco, a company that uses artificial intelligence (AI) to create advanced climate models for determining carbon credit issuance, has announced closing an oversubscribed seed funding round.

Silverstrand Capital led this round. Timbul Ventures, DMV Investments, Orvel Ventures, and Ascend Network also participated.

The terms of the funding remain undisclosed.

Also Read: A deep-dive into Wavemaker Impact’s decarbonisation strategies in SEA

Founded by Johann Wah (President) and Lawrence Xiao (CEO), Nika.eco tracks forest carbon, conducts deep dives into geospatial data and analyses additionality, baseline, leakage and permanence data. Carbon project investors and developers can use this data to develop nature-based projects and reach their net zero goals.

“Most machine learning solutions in the market use locally based compute, which limits the model’s ability to scale, or they run very inefficiently on the cloud due to nonoptimal cloud architectures,” co-founder Wah told e27.

“Our proprietary geospatial machine learning infrastructure automatically configures optimal resources to ensure your model is scalable and built efficiently. This significantly increases the time it takes to complete and improves cost structures,” he explained.

Beyond carbon, Nika eco also plans to use the capital to launch its geospatial infrastructure technology as a standalone SaaS product, which can lower costs and technological barriers to developing other types of climate models.

Nika.eco claims its audit-grade models are used by leading financial institutions, including Carbon Growth Partners and major European Banks. The model’s results can also be configured for the audit process to monetise forestry assets through carbon credits.

“Traditional carbon models usually take anywhere from six to eight months to train and build by industry standard. Our infrastructure has been able to support customers to reduce the time to within a month,” Wah added.

Also Read: AgriG8 gets Better Bite Ventures’s backing to decarbonise rice production in SEA

“Our vision is to redesign the geospatial and climate modelling space by making powerful geospatial machine learning infrastructure easy to use and accessible to all, starting in the carbon markets,” Wah noted.

As part of this funding round, Silverstrand Capital Impact Investment Manager Julianto Johanes has joined Nika.eco’s Board, while its Head of Impact Investments Patti Chu has joined as Strategic Advisor.

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Image Credit: Nika.eco.

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Tokyo has emerged as a pioneering hub for decentralised autonomous organisations (DAOs),  spearheading a transformative shift towards community-driven governance models in Japan. 

This evolution has been propelled by recent regulatory advancements bolstered by initiatives from the Kishida administration’s Web3 Project Team, established in 2022. 

These efforts aim to integrate DAOs into Japan’s overarching societal vision known as “Society 5.0,” originally conceived during the Abe administration. Society 5.0 envisions a future where AI and IoT technologies empower communities, enhancing the quality of life while delegating administrative functions to regional authorities.

DAO Tokyo: A global showcase of innovation

Tokyo is solidifying its leadership in DAOs with flagship events like DAO TOKYO, which has grown from a single-day conference to a comprehensive two-day gathering. This event showcases Tokyo’s dedication to nurturing DAO ecosystems, providing a platform for global thought leaders, tech innovators, and enthusiasts to converge.

Participants dive into cutting-edge developments, tackle challenges, and seize opportunities in DAOs through engaging workshops that simplify complex concepts. Recent editions have featured prominent global protocols such as Safe, Tally, and Consensys, underscoring Tokyo’s pivotal role in shaping the international DAO landscape and the latest edition will see prominent speakers from Aragon, Gitcoin, Nethermind and more. 

Fracton Ventures exemplifies Tokyo’s proactive approach by integrating DAO principles into corporate governance. Known for its commitment to community engagement, collaborative development, and strategic planning, The Japanese incubator sets the benchmark for blending DAO values with corporate practices.

Also Read: Taiwanese startups join forces with Southeast Asia to venture into Tokyo, Japan

By hosting these events annually, Tokyo continues to drive innovation and collaboration within the DAO community, reinforcing its position as a global leader in decentralised governance.

A real-world case study: The Yamakoshi DAO

One of Tokyo’s impressive innovations in the DAO space is the Yamakoshi DAO in Niigata Prefecture. This DAO connects digital and physical residents, allowing digital participants to engage in village life and community decisions through NFT ownership. 

Buying these NFTs isn’t just about getting digital assets; it’s about preserving a unique cultural heritage. Physical residents benefit from increased community engagement and fresh perspectives, revitalising their surroundings.

The Neo-Yamakoshi Village’s Nishikigoi NFT series is a key part of this DAO. Based on the village’s heritage as the birthplace of Japan’s prized Nishikigoi carp, this digital collection has gained global recognition since its start in 2021, earning over US$400,000 in sales. 

These NFTs are both cultural artefacts and governance tokens, giving holders voting rights and influence in local decisions. This dual role helps build community cohesion and addresses the challenges of integrating digital and physical worlds.

Despite initial challenges like adapting DAO technology for older residents and dealing with cultural sensitivities, the Neo-Yamakoshi Village experience shows the potential of DAOs to boost rural economies. By providing crucial funds for local projects, Yamakoshi has become a model for similar initiatives across rural Japan, using cultural assets for sustainable economic development.

Tokyo’s visionary path forward

Tokyo’s strategic emphasis on DAOs contrasts starkly with stricter regulatory climates observed in Western jurisdictions. 

The city’s focus on fostering innovation, community empowerment, and economic resilience through decentralised technologies exemplifies its commitment to DAO ecosystems’ advancement. 

As Tokyo continues to lead in DAO development and implementation, it remains poised to shape the future of governance not only within Japan but globally. By cultivating vibrant DAO ecosystems and embracing technological advancements, Tokyo reaffirms its dedication to empowering communities, fostering innovation, and promoting sustainable economic growth through decentralised governance models.

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DAO Tokyo 2024 is taking place on August 21-22 at Kanda Myojin Shrine, Tokyo. For further details and registration, please click here.

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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Vietnamese clean energy company Nami Distributed Energy has secured a US$10 million investment from Singapore-based Clime Capital.

This funding, facilitated through the Southeast Asia Clean Energy Fund II (SEACEF II), will be used to deliver rooftop solar and other on-site energy solutions to commercial and industrial customers across Vietnam.

Also Read: Clime Capital, Touchstone Partners inject US$2M into Vietnamese cleantech startup Stride

Luu Hoang Ha, Chairman of Nami Distributed Energy, said: “This investment, along with our extensive and rapidly growing project pipeline, positions us perfectly for the next funding round and expansion.”

Nami Distributed Energy, a subsidiary of Nami Energy, was founded in 2019 to bolster Vietnam’s energy transition. The company provides rooftop solar solutions and other on-site energy solutions, such as battery storage and energy efficiency measures, to commercial and industrial clients. It enables businesses to access lower-cost and sustainable power without upfront or ongoing expenses.

The startup has forged energy partnerships with prominent international and local corporations nationwide, such as SNZ (Sonadezi Corporation), Vicotex (Viet Thang Corporation), Capella Land, Regina Miracle International, Emivest, and Thipha Cable.

Mason Wallick, CEO at Clime Capital, said, “This significant funding provides a double benefit: it will grow competitive renewable energy facilities while also boosting Vietnam’s progress toward its 2050 decarbonisation target.”

The investment comes as Vietnam experiences a breakthrough in energy policy by introducing a new Decree, which creates significant opportunities for distributed (direct line) and grid-connected, cost-effective renewable energy.

Also Read: Driving innovation for a sustainable future: Top climate tech investments of H1 2024

Clime Capital, registered with the Monetary Authority of Singapore, manages SEACEF I and SEACEF II. The VC firm is in Vietnam, India, Indonesia, the Philippines, and Singapore. Its previous investments in Vietnam include Levanta (a wind power development firm), EBOOST (an open network electric vehicle charging operator), and Stride (a provider of households and small businesses with eco-friendly home improvement projects).

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Dear reader,

The recent breach at OpenAI, while superficial, underscores the increasing value of AI companies as prime targets for hackers.

Although the hack was limited to an employee discussion forum, it serves as a stark reminder of the sensitive nature of data AI firms handle. The significance of this breach is not in its immediate impact but in the potential vulnerabilities it exposes. AI companies like OpenAI possess vast amounts of valuable data, including high-quality training datasets, extensive user interaction logs, and sensitive customer information.

The training data, meticulously curated from various sources, is crucial for developing advanced models and is highly coveted by competitors and regulatory bodies alike.

Moreover, the user data generated through interactions with AI, such as ChatGPT, offers deep insights into user behavior, preferences, and needs, far surpassing traditional search data in value. This data is not only invaluable to developers but also to marketers, analysts, and consultants.

Lastly, the customer data used to fine-tune AI models represents another layer of critical information, often involving confidential internal databases.

The breach highlights the ongoing security challenges faced by AI companies and the necessity for robust protective measures. As these firms continue to grow and integrate deeper into various industries, their security practices must evolve to safeguard against increasingly sophisticated cyber threats.

Sainul,
Editor.

—-

NEWS

A hacker stole OpenAI secrets, raising fears that China could, too
A security breach at the maker of ChatGPT last year revealed internal discussions among researchers and other employees, but not the code behind OpenAI’s systems.

Delivery Hero flags potential EU antitrust fine, shares slide
The potential fine would be for “alleged anti-competitive agreement to share national markets, exchanges of commercially sensitive information and no-poach agreements”.

Investors chase wealthtech startups in India as affluent class grows
The high-net-worth and ultra-high-net-worth segments are booming in India; Only about 50-55% of India’s wealth management market is currently under professional management.

India’s CoinDCX acquires BitOasis in international expansion push
BitOasis’s team is joining CoinDCX the cryptocurrency exchange, with the original leadership continuing to manage the exchange, which offers trading in more than 60 tokens; BitOasis will also retain its branding.

Clime Capital invests US$10M in Vietnamese rooftop solar startup Nami
Nami provides solutions, such as battery storage and energy efficiency measures, to commercial and industrial clients in Vietnam; It enables businesses to access lower-cost and sustainable power without upfront or ongoing expenses.

Gobi-backed Pakistani social e-commerce startup DealCart raises US$3M
The investors include Shorooq Partners, Sturgeon Capital, 500 Global, and Evolution VC; DealCart will use the capital to expand its reach and provide affordable essential goods to Pakistan’s low- and middle-income consumers.

Mylo, BCRemit, PAMMÉ win ARISE Plus accelerator programme in Philippines
ARISE Plus Ye! Boost Accelerator is a 14-week programme providing internationalisation support to youth-led startups; It’s funded by the European Union and led by the International Trade Centre in partnership with the DTI-CIG and QBO Innovation.

Otoklix to provide aftersales support to VinFast customers in Indonesia
VinFast, which entered Indonesia earlier this year, plans to invest US$1.2B to build a local assembly plant with a capacity of 60K cars per year; Otoklix supports independent workshops servicing gas-powered vehicles.

Taiwan’s WhatsApp conversational sales platform Cooby closes US$1.75M round
The investors are Shilling VC, Surge, and Pear VC; Cooby enables teams to communicate at scale through an organised WhatsApp inbox and claims to have served over 600 customers.

SAFVR bags funding from Antler to create safer work environment using AI, VR
It offers mobile gamified training and advanced VR hazard simulations to engage employees and boost safety protocol retention; It offers immersive training modules to enhance knowledge retention and practical skills.

FEATURES

OpenAI breach is a reminder that AI companies are treasure troves for hackers
No security breach should really be treated as trivial, and eavesdropping on internal OpenAI development talk certainly has its value; But it’s far from a hacker getting access to internal systems, models in progress, secret roadmaps, and so on.

FROM THE CONTRIBUTORS

M&A in Asia: A strategic roadmap for venture builders
This insider’s guide aims to provide a comprehensive overview of how to identify promising M&A spots in Asia, leveraging both strategic insights and practical tips to navigate this complex landscape.

A head start in business: How Westbourne’s Future Leaders Lab empowers students
Westbourne’s Singapore-based Future Leaders Lab fast-tracks high-achieving students into STEM business leadership via an MBA-style programme.

FROM THE ARCHIVES

Web3: idealistic vision or inevitable future? Insights from expert Chris Sirise
Saison Capital’s Chris Sirise shares insights on Web3’s potential impact in SEA, real-life applications, and the challenges it faces.

No achievement is too small, no individual is too junior to be highlighted: Zelia Leong of PraisePal
If you have financial responsibilities, it’s best to assess the company upfront and ensure your role will be essential in their upcoming business plans, says the PraisePal Co-Founder.

‘It will take another 5-10 years to rebuild the Myanmarese startup ecosystem’
Myanmar-based startups and founders have migrated to countries, such as Thailand either to relocate their businesses or join the corporate life.

The mastermind behind the Gojek app is out to help others succeed
Former Go-Jek VP of Product Alamanda Shantika opens up about her new projects, leadership style, and a certain street kid named Rio.

Mastering the art of fundraising: Winning strategies to engage investors
The VC financing landscape is constantly evolving so new businesses must know how to successfully approach investors while fundraising.

Ilham Habibie on what it takes to bring the Indonesian startup ecosystem to the next level
According to Ilham Habibie, the country has the fundamentals to become a strong startup ecosystem. But there is a need for more collaboration.

Industry veteran Marc Mercuri on how blockchain revolutionises gaming for players, creators
However, Mercuri does not see blockchain gaming as a replacement or competitor to the existing AAA titles.

Gen Z says no to climbing corporate ladders: What does it mean for SG’s startup ecosystem?
Recent turbulence has Gen Z searching for more meaning and purpose to the work they do, and a path of true authorship, not only ownership.

Indonesia’s startup ecosystem today is no longer recognisable –and that is a great thing
There seems to be an acknowledgement of the important role that the local startup ecosystem can play in building the economy.

Finding the right co-founder involves having tough conversations–and a great sense of humour
While there is always an option to go solo, there are also many good reasons to for you to have a co-founder.

Edutech in SEA is still “far behind compared to North America” – but there is some hope
In this interview, D2L Regional Director Asia Nick Hutton explains the challenges faced in edutech adoption in the Southeast Asian region.

‘Collaboration is essential in promoting responsible consumption’
According to Stephanie Dickson, founder of Green Is The New Black, responsible consumption encompasses key factors that prioritise the well-being of people and the planet.

Autistic founders, advocates share their vision of a more inclusive workplace
With its openness to innovation and unconventional company culture, the startup ecosystem can be a welcoming place for autistic professionals.

The art of letting go and how it makes you an even better entrepreneur
As an entrepreneur, are we agile enough to let go of our “grit” and change direction when the twists and turns call for it?

Why finding your co-founder is a lot like meeting your soulmate
What I learned about finding co-founders from my experiences at MaGIC, Entrepreneur First, and Singapore-Deep Tech Alliance.

Shedding light on Singapore’s software development landscape: How collaboration drives innovation
Another detail that the report revealed is the programming language dominates Singapore’s software development community.

Angel investor Mike Flache shares his tips to begin investing in startups
Mike Flache considers himself as an investor in people, instead of tech. This is how he approaches angel investing.

Unlikely mentors: What kids can teach you about entrepreneurship
I distilled some key habits and characteristics that business owners can develop to thrive in a chaotic and competitive business world.

The post Ecosystem Roundup: AI firms face growing security threats | Delivery Hero flags potential EU antitrust fine appeared first on e27.

Choco Up, a revenue-based financing (RBF) and growth platform, recently announced that it has partnered with Set Sail AI, an intelligent contact centre solution provider, to promote the adoption of generative AI solutions among businesses and merchants.

The collaboration will allow Set Sail AI’s customers to access Choco Up’s RBF platform, facilitating the expansion of sales, marketing, and distribution channels for Generative AI technology in Hong Kong and beyond. This partnership aims to unify customer care and lead generation, drive sales, and provide a more holistic customer experience.

Generative AI has the potential to significantly boost global economic output, enhance productivity, and improve customer service by transforming various sectors. Studies suggest that the technology could reduce human-serviced contact volumes by up to 50 per cent and increase productivity in marketing functions by five to 15 per cent.

Set Sail AI’s premier product, the SaaS Gen AI Agents Building Platform, was created to help businesses create customised AI agents for various functions. It manages around 120 million inquiries annually and significantly reduces customer wait times.

Choco Up, with a history of providing swift and flexible financing solutions, has financed over US$1 billion in gross merchandise value in Asia Pacific, helping clients increase revenue, launch new products, expand user bases, and achieve successful acquisitions.

Also Read: Ecosystem Roundup: AI firms face growing security threats | Delivery Hero flags potential EU antitrust fine

In an email interview, Choco Up Co-founder and CEO Percy Hung explained to e27 how the partnership came to be and how they aim to help businesses embrace Generative AI.

The following is an edited excerpt of the conversation.

Can you tell us about how the partnership came to be?

We met through mutual business partners and quickly realised a shared vision: helping businesses grow. Set Sail AI has a robust client base seeking to enhance customer experience through AI solutions, but many lack the necessary capital to invest in these solutions. Our discussions revealed that combining our expertise could bridge this gap, enabling clients to leverage advanced AI without financial constraints.

What specific problem does the partnership aim to solve, as the two companies seem to serve two different aspects of business (financing and customer relations)?

This partnership aims to streamline the adoption of generative AI solutions for businesses and merchants. Choco Up’s mission is to fuel business growth, while Set Sail AI provides tools to enhance customer experience and drive sales through AI. By offering flexible payment terms, we enable more clients to realise their potential.

For instance, Choco Up clients expanding into new markets can use Set Sail AI’s tools to quickly launch chatbots in local languages, improving customer interaction and service. Conversely, Set Sail AI will benefit from faster payments through the B2B Buy Now Pay Later model, allowing them to reinvest funds into R&D and further advance their AI solutions.

What is the unique proposition that you offer to your users with this partnership? How does AI play a role in that?

Our unique proposition combines Set Sail AI’s advanced contact centre solutions with Choco Up’s flexible financing, enabling the seamless adoption of generative AI technologies. This partnership leverages AI’s potential to enhance productivity, personalise marketing, and improve customer service, which is estimated to boost global economic output by up to US$4.4 trillion annually.

Also Read: SAFVR bags funding from Antler to create safer work environment using AI, VR

Set Sail AI provides tools that automate tasks, optimise interactions, and reduce wait times, allowing businesses to create customised AI agents for various functions. Choco Up offers swift, flexible financing that supports growth without requiring equity, enabling investment in technologies like Set Sail AI’s solutions.

For example, AsiaPay (PayDollar) used Set Sail AI’s chatbot to increase sales by 70 per cent for more than 500 merchants within 12 months, allowing merchants to comprehensively manage customers from various channels more effectively with AI.

This partnership helps businesses improve customer interactions and service quality while ensuring they have the necessary resources. Together, we enable businesses to achieve efficiency gains, reduce contact volumes, and focus on growth and innovation.

What is your target for this partnership? How many users do you aim for in the first year? Is there any specific profile of users that you are targeting?

Our goal is to engage businesses across various industries that can benefit from generative AI solutions. In the first year, we aim to onboard users primarily from sectors such as e-commerce, retail, and F&B, where the impact of AI-driven enhancements is most profound. We are targeting companies looking to scale, improve customer engagement, and streamline operations.

Also Read: Google: AI products, solutions to contribute US$146B to Singapore’s economy by 2030

What other areas would you like to explore in the future through this partnership? What other plans do you have this year for this partnership?

In the future, we aim to explore additional industries where generative AI and flexible financing can drive significant value. These include sectors such as aviation, real estate and healthcare, where AI can enhance efficiency, personalise services, and streamline operations.

By leveraging Set Sail AI’s advanced solutions and Choco Up’s financing capabilities, we can facilitate the adoption of AI technologies in these sectors, helping businesses to innovate and grow.

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Image Credit: Choco Up, Set Sail AI

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A new blockchain exchange for impact investors has been launched in Singapore.

The Net Zero-X exchange aims to tackle the significant financing gap impeding the global transition to a net zero future.

Open to institutional and accredited investors, the exchange enables sustainability-minded investors to identify and support vetted green, clean, and climate tech projects.

Also Read: Asia’s climate tech: Communicating solutions and avoiding greenwashing

Net Zero-X has been launched with its flagship project: the world’s first ‘Drive-In Waste Disposal & Energy Recovery Hub’. This UK-based initiative aims to redirect waste from conventional landfill sites to a state-of-the-art facility, reducing carbon emissions and environmental impact while maximising resource recovery.

It has also identified 60 immediate sustainability projects seeking investment. The platform aims to onboard 500 projects within the next five years, facilitating the deployment of over US$10 billion in impact capital over the next decade.

Net Zero-X’s platform is built on technology by the Singaporean blockchain company Chintai. Chintai can offer full transparency and secure the exchange’s investments as it can provide immutable and verifiable records of all transactions.

To minimise the worst impact of climate change, world leaders signed the 2015 UN’s binding Paris Agreement to reduce emissions significantly in the decades to come, reaching net zero emissions by 2050.

Also Read: Driving innovation for a sustainable future: Top climate tech investments of H1 2024

However, the de-carbonisation of the world economy requires tremendous financial investments. A study by Allen & Overy and the Climate Policy Initiative estimates that US$6.2 trillion in climate finance is needed annually from now until 2030, after which it will increase to US$7.3 trillion, totalling nearly US$200 trillion to reach the net zero target.

The cost exceeds what the public sector can finance; the net zero emissions goal requires collaboration between governments and businesses. Today, there remains a staggering US$4 trillion annual global financing gap, which the Net Zero-X exchange platform helps tackle.

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Image Credit: 123RF.

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Although the term Generative AI (Gen AI) has been around since the 1960s, it’s only over the past year that the application has truly taken hold in the mainstream consciousness. From business use to our personal lives, there are countless benefits that Gen AI can bring.

As Singapore embraces its Gen AI Journey, the market is expected to grow at 46 per cent year on year (CAGR), resulting in a market size of US$5.09 billion by 2030. However, for businesses to get the necessary impact out of their investment and ensure a positive experience for all, Gen AI needs to be adopted in the right way.

There is no shortage of examples and applications where Gen AI can really make a difference. Organisations can automate faster and speed up process discovery and development by enabling users to write prompts to create processes, automation and other components.

Gen AI can facilitate improved decision-making by making it easier to access and analyse data. Complexity of automations can be reduced by seamlessly integrating more complex and nuanced use cases into existing processes, with minimal disruption or impact on quality.

While Singapore has made an investment of up to US$500 million to secure high-performance computing resources for AI innovation and capability building, behind the success, there must always be robust data governance, security and accountability.

Also Read: 5 ways generative AI is transforming the payments ecosystem

Any business adopting Gen AI for whatever process needs to ensure that trust and transparency come first and are ‘by design’, not just an afterthought. This is where the fusion of intelligent automation (IA) and Gen AI make for a winning combination.

Automating responsibly  

Gen AI needs to be accountable and auditable. It needs to be instructed and learn what information it can retrieve. Combining it with IA serves as the linchpin of effective data governance, enhancing the accuracy, security, and accountability of data throughout its lifecycle.

Put simply, by wrapping Gen AI with IA businesses have greater control of data and automated workflows, managing how it is processed, secured, from unauthorised changes, and stored. It is this ‘process wrapper’ concept that will allow organisations to deploy Gen AI effectively and responsibly.

The adoption and transparency of Gen AI are imperative now, as innovation continues to grow at pace. The past 12 months have seen significant innovations in language learning models (LLMs) and Gen AI to simplify automation that tackles complex and hard-to-automate processes. According to IDC, this includes large enterprises relying on AI-infused processes to enhance asset efficiency, streamline supply chains, and improve customer satisfaction.

Five years ago, AI tools and models were fairly limited and had narrow applications, but now with off-the-shelf learning models and applications requiring low skills, the only barrier to entry limiting Gen AI adoption is data quality.

Also Read: All hands on deck: How Iron Sail strengthens blockchain gaming ecosystem through collaboration

With 80 per cent of tech leaders planning to adopt Gen AI within three years (Gartner), organisations across all sectors are chomping at the bit to utilise these exciting new technologies within their business processes. Maintaining data security and compliance is imperative.

Future-proofing Gen AI investment

Whether you’re a manufacturing powerhouse or a global financial institution, summarising vast quantities of unstructured data is a challenge for the C-suite and revenue teams alike. Forrester’s AI Pulse Survey highlights how, as Gen AI adds pressure on systems, measurement becomes unpredictable, complicating insight delivery.

Managing security, privacy, and consent adds another layer of complexity. Machine learning’s random nature demands live data sets for measurement and monitoring, lacking a standard linking Gen AI models to source data, increasing uncertainty and risk, the single biggest barrier to the adoption of Gen AI by B2B enterprises.

Before implementing any sort of new automation technology, organisations must establish use cases unique to their business and undertake risk management assessments to avoid potential noncompliance, data breaches and other serious issues.

With the right guardrails in place via a process wrapper like IA to control data input, output and training models, Gen AI can transform how a business automates its processes. By combining Gen AI with IA as the process wrapper, organisations can ensure the security of their data management and transparency.

With a surge of offerings from vendors, customers need to sift through the hype and realise actual business value. Cloud, data, AI, and automation software will continue to push boundaries and overlap with others to create unique applications.

The combination of IA and Gen AI represents a powerful synergy by facilitating effective data governance and enhancing the accuracy, security and accountability of data throughout its lifecycle. Leaders can now be confident in harnessing the full potential of Gen AI to drive their business forward.

As organisations continue to invest in these technologies and a digital workforce, they are not only future-proofing their data management but also ensuring that they can make well-informed decisions while maintaining trust and transparency in their operations by using IA as the process wrapper.

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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

The post Beyond the hype: Taking Gen AI mainstream with next-level automation appeared first on e27.