Nibertex, a deep tech startup based in Singapore and the Philippines, has successfully closed an oversubscribed funding round.

The investment was led by Foxmont Capital Partners and supported by a consortium of Southeast Asian families.

The new funds will help speed up the launch of Per- and Polyfluoroalkyl Substances (PFAS)-free membrane technology. PFAS is otherwise known as the “forever chemical” found in textiles and doesn’t break down quickly.

Founded in 2019, Nibertex is a material science venture that leverages nanotechnology to engineer advanced and sustainable materials. With a mission to drive innovation and enhance the quality of life, the company with its proprietary solution is leading the market transition toward sustainable waterproof and breathable products, offering an environmentally safe alternative without compromising performance.

Also Read:  WYZauto nets US$2.25M to connect vehicle maintenance businesses with tyre brands in Thailand

The process also opens doors for the rapid development and market launch of materials used in various applications, including EV batteries, wound dressing, EMI shields, and more. Nibertex will prioritise an initial focus on technical textiles.

“Our aim is to pioneer material science innovations that are environmentally sound, serve our customers, and positively impact society,” said Jae Hyung Park, Co-Founder and COO of Nibertex.

With over three decades of experience, Nibertex claims to be the world’s first in hybrid electrospinning and exports to over 30 countries. It has a global presence in two countries and a production capacity of 1.5 million square meters per machine.

“After years of R&D, Nibertex now has the product, experience, cost advantage, and clientele to change entire industries so that we can together help rid our daily lives of these harmful chemicals, and we are keen to support them in that mission,” said Jelmer Ikink, Founding Partner at Foxmont Capital Partners.

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Image credit: Nibertex

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In our increasingly digital world, innovation and technological advancement face unprecedented challenges, compounded by a myriad of factors. Geopolitical conflicts add another layer of complexity. 

Amidst these challenges, innovators must explore opportunities for global expansion not only to penetrate new markets and offer solutions where they are needed but also to partner and collaborate with other ecosystem stakeholders that can help push for better innovation.

Connecting regional innovators to the global ecosystem

With this ethos in mind, the Hong Kong Science and Technology Parks Corporation (HKSTP) completed the first Elevator Pitch Competition 2024 (EPiC) Region Semi-Final in Singapore on 22 and 23 February 2024. With the goal of bridging innovators to global markets, EPiC serves as a catalyst for regional startups to explore market expansion opportunities.

“[We want to] attract overseas tech venture companies to come to Hong Kong and provide an opportunity for them to look at the whole Asian market for [business] expansion. A lot of companies from Europe and the US interested in Hong Kong or China don’t know what to do. Elevator Pitch gives them the platform to understand the Asia market, what they need to do if they want to set up an entity here, what the market potential is, what they need if they want to be listed in the Hong Kong stock exchange, what they need if they want to expand to China, among others. All these things, through the EPiC competition, we will be able to provide,” shared Eric Or, Head of Partnerships at HKSTP.

A total of 222 of the Asia Pacific region’s brightest startups battled for 20 semi-final slots at the EPiC 2024 Grand Finale in Hong Kong on 26 April 2024. All applicants of EPiC 2024 target a US$45 million funding to be arranged through investors (including funds managed by HKSTP Corporate Venture Fund, Beyond Ventures, BitRock Capital, Gaw Capital, HKX, InnoAngel, Jafco Asia, Mindworks Capital, and Radiant Tech Ventures) all of whom consider investing in applicants (subject to terms and conditions to be agreed between the parties), and qualify for a chance to have up to US$5 million investment by the HKSTP CVF, US$240,000 in cash prizes, plus partnership opportunities.

Also read: Antler: Backing the world’s most driven founders from day zero to greatness

As Hong Kong’s largest incubator, HKSTP integrates high-growth ventures directly into its innovation ecosystem and seamlessly to the HKD2,827 billion (USD 362 billion) economic opportunity in China’s Greater Bay Area (GBA) encompassing Guangdong and the even the broader mainland China market and beyond.

Guangdong Province is China’s largest provincial economy, projecting 5% GDP growth in 2024. Being in Hong Kong, EPiC forms a critical growth launchpad which positions Asia Pacific innovators at the heart of the Greater Bay Area (GBA) innovation powerhouse and connects the surging investment and market potential of the globe, Mainland China, and beyond.

EPiC 2024 can be a great launching pad for global startups to explore opportunities in the broad Asian market, while also connecting startups from the region to major markets across North America and Europe.

Going global with the help of HKSTP

Hong Kong serves as a vital gateway for Southeast Asian startups aiming to seize the burgeoning opportunities within the Greater Bay Area, an expanding innovation hub spanning China and North Asia. EPiC 2024 strategically provides essential elements for success, including access to capital, valuable market insights, strategic partnership opportunities, and a conducive environment for scaling operations due to Hong Kong’s strategic location. Utilising Hong Kong as a launchpad enables startups not only to navigate the complexities of the Greater Bay Area but also to expand into neighbouring markets, unlocking abundant opportunities for sustained growth and expansion.

Two great examples of how EPiC helped launch global expansions are Archireef, Champion of EPiC 2021, and Ultipa, a finalist for EPiC 2023.

Archireef is a nature-tech company dedicated to providing eco-engineering solutions for active restoration and fostering nature-positivity in the future of marine ecosystems, spanning shorelines to coral reefs. The homegrown Hong Kong-based startup is on a meteoric rise, going from obscurity with no hope of funding to making waves with deals and partnerships at the recent COP28 in Dubai.

“Since clinching the EPiC 2021 award, our trajectory has been nothing short of exhilarating. We are thrilled about the prospects ahead, which fuels our commitment to restoring marine ecosystems,” said Vriko Yu, Co-founder and CEO of Archireef. “Currently, we operate in both Hong Kong and the UAE, having successfully deployed over 500 of our Reef Tiles across these regions. Our growth is continuous, and we’ve seen revenue increase eight times in Q4 2023.”

Also read: D-Tech Community Hub: Safeguarding communities through collaboration

Yu acknowledges the vital role of the HKSTP ecosystem in their journey, expressing gratitude for the diverse talent and expertise it has provided, both locally and internationally. The HKSTP incubation programs were instrumental in refining Archireef’s business model and translating academic research into viable commercial solutions. Following this support, the company has rapidly expanded and received acclaim and awards from renowned institutions like the World Economic Forum, IUCN, Forbes Asia, Bloomberg, and Geneva Inventions. Additionally, Archireef has garnered support from an Abu Dhabi-based investment and holding company, as well as venture capital firms in Singapore.

Meanwhile, Ultipa is a Silicon Valley-originated developer of a high-performance graph database system. Selected as one of the 10 finalists in EPiC 2023, the firm is looking to expand its business to the mainland China market and more broadly across Asia. The proximity to Shenzhen, along with the seamless resources provided by Hong Kong and HKSTP for startup expansion and growth, were key factors influencing Ultipa’s decision to choose HKSTP as its starting point in Asia.

“HKSTP provides business matching, investment referrals, exclusive membership of a city-wide and cross-industry virtual lab, access to co-working space as well as an extensive talent pool by reaching out to Hong Kong’s renowned universities,” shared Monica Liu, Founder and COO of Ultipa. “We found that EPiC is a global and valuable platform and probably the fastest track for our AI solutions to expand to the Greater Bay Area and Asia-Pacific markets,” Liu added.

Ultipa’s graph technology integrates AI acceleration, augmentation, and explainability, driven by its distinctive next-gen horizontally scalable graph computing and storage engine. Renowned for delivering unparalleled computing solutions, Ultipa has garnered international recognition, notably winning the 2023 Banking Technology Awards (UK) in the category of “Tech of the Future – AI and Data.” Trusted by leading banks and financial institutions worldwide, Ultipa continues to set industry standards with its innovative solutions.

A strong showing for APAC at the EPiC 2024 Regional Semi-finals

The Singapore regional semi-final took place at The Great Room Centennial Tower, with 94 participants in the FinTech track, 65 in PropTech, and 63 in MobilityTech. The FinTech and PropTech innovations are on Day 1, with MobilityTech innovations featured on Day 2.

Hosting the first-ever Asia Pacific EPiC semi-final in Singapore is a key step in the EPiC mission to attract the very best startups from around the world. The 222 semi-finalists fiercely competed across FinTech, PropTech and MobilityTech tracks while pitching their innovative ideas and business models in a strict eight-minute period with a two-minute Q&A session to a professional judging panel.

Also read: Navigating In-Store Innovation: A Dive into Ingenico’s StartupIN Program

Eric Or emphasised the impressive showing of fintech in the Singapore semi-final, which demonstrated an array of innovative solutions and presentations. “Singapore is really up there in terms of fintech,” remarked Eric Or. “Singapore is mature in terms of doing the more advanced fintech solutions like blockchain, crypto, AI, and others. Every company we saw today had an element of AI in them, so I’m impressed with that.” He also noted a remarkable showing in robotic solutions and other related verticals.

The shortlisted 20 startups will join fellow semi-finalists from the Silicon Valley semi-final that took place on 18-19 January 2024, with further rounds in Hong Kong (29 Feb 2024) and in Stuttgart in Germany (4-5 Mar 2024), seeing over 70 semi-finalists selected for the Grand Finale at the iconic Sky100 venue atop Hong Kong’s tallest building, International Commerce Centre.

About Hong Kong Science and Technology Parks Corporation

Hong Kong Science and Technology Parks Corporation (HKSTP) was established in 2001 to create a thriving I&T ecosystem grooming 12 unicorns, more than 14,000 research professionals and over 1,700 technology companies from 26 countries and regions focused on developing healthtech, AI and robotics, fintech and smart city technologies, etc.

Our growing innovation ecosystem offers comprehensive support to attract and nurture talent, and accelerate and commercialise innovation for technology ventures, with the I&T journey built around our key locations of Hong Kong Science Park in Shatin, InnoCentre in Kowloon Tong and three modern InnoParks in Tai Po, Tseung Kwan O and Yuen Long realising a vision of new industrialisation for Hong Kong, where sectors including advanced manufacturing, micro-electronics and biotechnology are being reimagined.

Hong Kong Science Park Shenzhen Branch in Futian, Shenzhen plays positive roles in connecting the world and the mainland with our proximity, strengthening cross-border exchange to bring advantages in attracting global talent and allowing possibilities for the development of technology companies in seven key areas: Medtech, big data and AI, robotics, new materials, microelectronics, fintech and sustainability, with both dry and wet laboratories, co-working space, conference and exhibition facilities, and more.

Through our R&D infrastructure, startup support and enterprise services, commercialisation and investment expertise, partnership networks and talent traction, HKSTP continues to contribute to establishing I&T as a pillar of growth for Hong Kong. 

More information about HKSTP is available at www.hkstp.org.

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This article is produced by the e27 team, sponsored by Edelman

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Visit Echelon X to learn more about the program. Get your tickets here!

The emergence of AI-powered technology and machine learning has revolutionised how startups harness data for growth and scalability. By employing advanced algorithms, startups can efficiently sift through vast troves of data, extracting valuable insights that inform strategic decision-making, and ultimately bolstering their R&D process.

From identifying market trends to understanding customer preferences, AI enables startups to synthesise complex information swiftly and accurately, empowering them to make data-driven choices that drive growth. By leveraging AI to distil data into actionable intelligence, startups can optimise processes, enhance product offerings, and cultivate deeper connections with their target audience, thus propelling their expansion and scaling efforts to unprecedented heights.

While the potential benefits of leveraging AI and machine learning for data-driven growth are immense, startups often grapple with significant challenges in accessing the necessary technological infrastructure to process vast amounts of data effectively. Limited financial resources and expertise can hinder startups from investing in robust data infrastructure and hiring specialised talent to implement and manage AI solutions. Additionally, the sheer volume and complexity of data present obstacles for startups, as they may lack the sophisticated tools and systems required to collect, store, and analyse data at scale.

Without access to scalable infrastructure and adequate technical capabilities, startups risk being overwhelmed by the data deluge, inhibiting their ability to derive actionable insights and capitalise on growth opportunities.

Unlocking growth through innovative solutions with PatSnap

Building robust data governance frameworks and implementing stringent security measures require substantial investments in both time and resources, diverting attention and resources away from core business activities. Furthermore, the risk of data breaches and cybersecurity threats looms large, particularly for startups with limited cybersecurity expertise and resources, underscoring the importance of prioritising data privacy and security initiatives as integral components of their growth strategies.

Thus, to properly leverage data and unlock growth, startups need a reliable solutions provider that offers scalable infrastructure, advanced AI tools, and expertise in data analytics, enabling them to efficiently process large volumes of data, derive actionable insights, and accelerate their growth trajectory without the burden of managing complex technology infrastructures internally.

Also read: Elevator Pitch Competition (EPiC) accelerates startups from SEA to the world

With this mission serving as the building blocks of its technology, PatSnap offers ​​patented machine learning and AI-powered technology that enables users to seamlessly comb through, connect, and analyse billions of cross-industry innovation and IP data points in a fraction of the time.

Founded in 2007, Patsnap is a global leader in AI-powered innovation intelligence. The Singapore-founded tech unicorn’s user-friendly platform revolutionises how IP and R&D teams collaborate across the entire innovation lifecycle — from validating ideas to analysing the competitive landscape and beyond. More than 12,000 global companies across diverse industries trust Patsnap to innovate faster with AI.

With a team of 1,200+ Patsnappers spanning three continents and over 12,000 customers in over 50 countries, PatSnap is revolutionising the innovation process from concept to commercialisation.

Get to know PatSnap at Echelon X!

Aligned with its mission to strengthen the tech startup ecosystem, PatSnap will be joining us at Echelon X happening on 15-16 May at the Singapore EXPO. There, PatSnap will be meeting with startups, investors, SMEs, corporates, and government institutions, among other ecosystem enablers to discuss how the company can help them leverage data in their R&D processes. “We want to show Echelon X delegates how we can empower R&D teams to gain competitive advantage and innovate faster with our AI-powered innovation intelligence platform. This way, they will be keen to explore our platform to try out,” shared Guan Dian, Co-founder, APAC General Manager & CMO at PatSnap.

Guan will also be representing PatSnap as one of the esteemed speakers of Echelon X.

Also read: Antler: Backing the world’s most driven founders from day zero to greatness

Targeting IP and R&D teams and verticals that include life sciences, automotive, consumer goods, technology, manufacturing, engineering and legal, Guan explained that the PatSnap team is eager to help R&D teams in their growth journeys. “We look forward to sharing more about how Patsnap is putting AI to work to help R&D teams innovate faster and boost their productivity,” she shared.

PatSnap is one of the many exciting industry leaders from across the Southeast Asian region who will be joining us for Echelon X. Joining Antler are other key leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region who will be gathering together for two packed days. Echelon X will feature dedicated content stages, exhibitions, panel discussions, and more — all to support and empower the tech startup ecosystem with actionable insights through a series of knowledge-sharing activities.

Whether you’re eager to expand your knowledge, network with key players from the tech startup scene, or showcase your innovative ideas, Echelon X offers an unparalleled experience. Join us as a participant or an official partner by securing your spot now on our official page. Together, let’s embark on a journey to shape the future and create a lasting impact.

Join us at Echelon 2024, where innovation knows no limits, and the possibilities are endless!

– –

Photo by fauxels via Pexels

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In the tech world, we’re always racing ahead, building the future one line of code at a time. But as we create, we also consume—a lot. This isn’t just about the electricity to power our gadgets; it’s about the whole picture: how we work, what we build, and the impact it all has on our planet. The thing is, going green isn’t just a nice-to-have anymore; it’s a must-do. Our planet’s health depends on it, and so does the health of our businesses.

Now, here’s where it gets interesting. What if we looked at sustainability through a different lens? Imagine tapping into the science of how our brains tick to make being eco-friendly as natural to us as checking our phones.

Neuroscience—the study of the brain and its functions—holds some fascinating keys to this. It can show us how to switch up our habits, make better choices, and actually get excited about doing good for the Earth. Think of it as hacking our brain’s wiring to light up for sustainability as much as it does for our other passions.

Let’s dive into how this can change the game for tech companies wanting to do their part for the planet.

Understanding the human brain’s approach to sustainability, the basics of the reward system

Alright, let’s talk about how our brains handle the idea of being green and sustainable. It’s like learning the secret cheat codes to understand why we do what we do and how we can do better.

The basics of the reward system

Imagine your brain has a little party every time you do something it likes, tossing out confetti in the form of dopamine, a feel-good chemical. This dopamine rush is the brain’s way of saying, “Hey, that was cool. Let’s do it again!”

Whether it’s nailing a project at work or recycling a can instead of tossing it in the trash, your brain rewards you. Understanding this system shows us how to trick our brains into making sustainability feel as good as binging your favourite series.

Neuroplasticity and habits

Now, onto neuroplasticity—this is the brain’s superpower to change and adapt. It’s like how water shapes rocks over time; our brains can form new habits through repeated actions. The latest data from brain studies shows that when we consistently choose eco-friendly actions, our brains start to wire these choices as the go-to habits.

So, the more we practice being sustainable, the more natural it becomes. It’s all about giving our brains the time and repetition they need to say, “This is how we do things now.”

Cognitive dissonance in sustainability

Ever noticed how sometimes we know the right thing to do but end up doing the opposite? That’s cognitive dissonance in action.

Also Read: Neuroscience-backed productivity tips every tech founder should adopt

It’s like having an angel on one shoulder telling you to save water by taking shorter showers and a devil on the other arguing for just one more song. When it comes to being eco-friendly, we often face this inner tug-of-war because old habits and convenience challenge our good intentions.

Recent research into cognitive dissonance shows us why there’s this gap between knowing about sustainability and actually living it. Understanding this battle can help us develop strategies to align our actions with our eco-friendly goals.

By getting the lowdown on these brain behaviours, we can start to see why changing our habits isn’t just about wanting to; it’s about rewiring our brains to make sustainability the new normal. Let’s use this knowledge to turn good intentions into everyday actions.

Practical strategies for tech companies

Now, let’s roll up our sleeves and dive into some real-world strategies that tech companies can use to amp up their green game. It’s about making sustainability so engaging that everyone from the intern to the CEO wants to jump on board.

Gamified sustainability initiatives

Imagine turning eco-friendly actions into a game where everyone’s trying to beat the high score. This isn’t just fun and games; it’s science in action.

By turning sustainability efforts into challenges, quizzes, and team competitions, we’re tapping into the brain’s love for rewards. Every time an employee recycles, saves energy or comes up with a green innovation, they earn points, badges, or even real rewards.

It’s like turning the whole company into a giant video game, where the goal is to save the planet, one point at a time. This method lights up the brain’s reward pathways, making sustainability something employees not only want to do but are excited to keep doing.

Creating a culture of sustainability through storytelling

Now, let’s talk about the power of a good story. Stories are not just for kids; they’re how adults process and remember information, too. Neuroscience shows us that when we hear a compelling story, our brains light up, engaging emotions and memory in a way that facts alone can’t.

Tech companies can harness this by sharing inspiring stories of sustainability—like the journey of a recycled product or a project that cut down energy use. These stories, especially when shared by leadership or peers, weave a narrative that employees can see themselves in, motivating action through connection and emotion.

Neuroscience-informed training programs

Lastly, let’s get into the nuts and bolts of Learning & Development (L&D) with a neuroscience twist. We’re talking about programs that go beyond the usual lectures, tapping into how our brains really learn and form habits.

Techniques like spaced repetition, where information is reviewed at increasing intervals, can help make sustainable practices stick.

Also Read: Sana Ross: Elevating performance coaching and neuroscience in business

Experiential learning—think hands-on projects or simulations—engages the brain’s “learning by doing” pathways, making the lessons of sustainability more impactful and memorable.

By building L&D programs with these principles in mind, companies can foster a workforce that’s not just knowledgeable about sustainability but is actively living it every day.

Action calls for the tech world

So, what’s next? For tech companies looking to not just join the sustainability movement but to lead it, it’s time to think outside the traditional toolbox. Neuroscience offers a suite of tools designed to engage, motivate, and inspire—tools that can make sustainability a core part of the tech culture.

Whether it’s through innovative training programs, message crafting, or collaboration across disciplines, the goal is clear: to weave sustainability into the fabric of our daily work life.

Keep the learning going

While we’ve touched on some exciting concepts and strategies, the world of neuroscience and sustainability is ever-evolving. For those eager to dive deeper and keep at the forefront of this intersection, here’s a list of resources to get you started:

• “Consuming Differently, Consuming Sustainably: Behavioral Insights For Policymaking by The United Nations Environment Programme
• “Applying Behavioural Science to Advance Environmental Sustainability” by Hitomi Rankine and Donya Khosravi 

• Alex Laskey: How behavioural science can lower your energy bill

By delving into these resources, tech leaders and teams can arm themselves with the knowledge and inspiration needed to turn sustainability from a buzzword into a way of life.

In closing, the merge of neuroscience and sustainability in tech isn’t just a novel idea; it’s a roadmap to transforming how we think about and act towards our planet. It’s time to get excited, get informed, and get involved because the future of sustainability is here, and it’s wired into our very brains. Let’s make it count.

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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 post Rewiring our world: How neuroscience unlocks the secret to sustainable tech appeared first on e27.

Dear reader,

The 2024 Tech Salary Report by NodeFlair unveils intriguing insights into the evolving landscape of tech compensation in Asia. While overall tech salaries have seen a decline from the peaks of previous years, it’s crucial to contextualise this within the broader industry dynamics. The adjustments signify a shift towards a more balanced and realistic compensation structure rather than signalling a cause for alarm.

Noteworthy is the decline in salaries for software engineering roles, possibly influenced by reduced funding within the Southeast Asia tech ecosystem. The crypto winter, triggered by significant events in the blockchain industry, has impacted salaries for blockchain engineers, underlining the volatile nature of this sector.

Conversely, the notable increase in salaries for data scientists and cybersecurity engineers reflects the growing emphasis on data security and analytics capabilities.

Ethan Ang, CEO of NodeFlair, aptly highlights the industry’s talent challenges amidst the rise of generative AI and the importance of balancing financial prudence with innovation. The report’s findings also shed light on the evolving priorities of job seekers, with stability and competitive salaries taking precedence over other factors.

As the tech hiring landscape continues to evolve, the integration of AI tools in recruitment processes and the emphasis on remote hiring indicate a trajectory towards more efficient and inclusive talent acquisition practices. Overall, NodeFlair’s report underscores the multifaceted nature of tech compensation trends in Asia and the strategic imperatives guiding both employers and job seekers in this dynamic industry.

Sainul,
Editor.

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NEWS

Blockchain engineers’ salary in Asia sees 5.41% drop: report
On the other hand, data scientists are experiencing a significant 11.3 per cent increase in average salaries, indicating a deliberate investment by companies to attract and retain top talents.

SEA startups raised US$371M across 42 rounds in March: Tracxn report
With 22 deals, early-stage rounds formed the bulk of the investments in March; Indonesian insurtech startup Qoala (US$47M) raised the largest funding, followed by AwanTunai (US$27.5M) and Wagely (US$23M).

RedDoorz secures US$28.2M in funding
The investors include Asia Partners, Jungle Ventures and Mirae Asset Venture Investment; The hospitality firm claims to have achieved group cash flow positive; The company became break-even in Indonesia and the Philippines – two markets that contribute 95% to its business – in Q4 2022.

Indian audio giant boAt says it’s investigating suspected customer data breach
A sample of alleged customer data was uploaded on a known cybercrime forum, which includes full names, phone numbers, email addresses, mailing addresses and order numbers.

Byju’s-owned test prep firm AESL names ex-Pearson India head as CEO
The appointment of Deepak Mehrotra comes close on the heels of Byju’s and AESL withdrawing their merger petition in March on matters related to governance issues and share-swap arrangements; The former had acquired AESL for US$940M in 2021.

Japan’s space junk removal startup Astroscale aims for June listing
Founded by ex-government official Nobu Okada, Astroscale has won government backing in Japan, the U.S. and Britain as it develops technology to remove orbital junk such as disused satellites and spent rockets which are seen as a collision risk.

TerraPay receives licence for cross-border money transfers, e-money issuance in Singapore
The fintech firm enables payments to 144 receive countries, over 210 send countries, over 7.5B bank accounts and 2.1B mobile wallets.

B Capital onboards BCG, ex-Temasek execs to help hit net-zero goals
The investment firm, established by Facebook co-founder Eduardo Saverin, has named Rich Lesser as vice chair of climate and sustainability as well as senior advisor. It has also appointed Jeff Johnson as general partner.

FEATURES

Funding frenzy in SEA: Innovative solutions garner millions of dollars
From improving access to affordable surgeries in Thailand to harnessing biochar technology for farms in Singapore, the region’s startups are addressing critical challenges.

Fractional helps startups figure out marketing leadership with its fractional CMO service
Fractional was launched as a collective of CMOs to solve the marketing leadership gap in hypergrowth companies; The organisation curates the region’s top marketing leaders to work for companies on a fractional or part-time basis.

FROM OUR CONTRIBUTORS

Safeguarding your organisation in the age of increasing AI
In the era of increasing AI influence, organisations must prioritise cybersecurity to safeguard their assets and data.

Local Food Services companies: Navigating optimism amid economic uncertainty
Digitisation enhances operational efficiency in Food Services, nurturing stronger homegrown brands alongside a personalised human touch.

Building future sustainable business: The role of rural commerce platforms
Rural commerce platforms have emerged as transformative tools, unlocking the potential of rural economies and empowering local entrepreneurs in the process.

FROM THE ARCHIVE

Innovation hubs – the next craze for investment opportunities
Understanding the demand of the market is key for innovation hubs to attract talents and cultivate successful companies.

28 tools to help you improve your time management and work habits
Where did the time go? With these tools, you will have a better way of managing your tasks, goals, and outputs.

How to split founder equity without splitting up
So, how much equity should you give your co-founder so that he feels motivated to join and work long hours to make the company successful?

Exit Strategies: Ways to get your money back besides IPOs and M&A
The pickup in IPOs and M&A deals in the region bodes well for the possibility of high-value exits for investors.

Understanding the traction metrics that investors are looking for in an early-stage startup
Different investors might consider different traction metrics, depending on the verticals that the startup is working on.

7 principles of intelligent personalisation
Basic personalisation is failing to engage; tactics that centre on relevance rather than demographics are much more effective.

The coworking experience is not just about space but more about community
Coworking spaces are pushing the boundaries of traditional office spaces, embodying the perfect representation of the modern world.

How to write a PR pitch for your white paper
Your pitch serves as a good, plainly-worded summary that makes your white paper’s news value crystal clear; Get it ready weeks before your white paper’s release date; Busy media people like advance notice.

4 key points to consider when scaling in Southeast Asia
Southeast Asia is not uniform but is a region with distinct user bases which imposes a challenge for tech companies who want to scale up.

5 ways to monetise social media technology for startup success
Startups launching into the digital landscape need to use social media to promote and grow their businesses passionately.

—

X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

The post Ecosystem Roundup: Blockchain engineers’ salaries decline in 2024 | RedDoorz raises US$28.2M | Customer data breach at Indian audio giant boAt appeared first on e27.

Imagine a finance worker tricked out of a staggering US$25 million through a deepfake video impersonating their own CFO. Sadly, this isn’t science fiction but a harsh reality serving as a stark example of the ever-changing barrage of digital scams plaguing Asia.

The region’s rapid digital expansion has created fertile ground for malicious activities to flourish online, leaving individuals exposed to phishing attempts, AI-powered deepfakes, and a growing range of online cons.

As scams continue to evolve, a crucial question arises: Is Asia prepared for the battle ahead?

Asia under siege

The 2023 Asia Scam Report by The Global Anti-Scam Alliance (GASA) and Gogolook paints a troubling picture. Over 60 per cent of Asians — more than 2.4 billion people — face at least one scam attempt every week. The average number of scam calls and SMS received per person in Asia has also risen from 8.9 times in 2020 to 15 times in 2022, reflecting an annual growth rate of 29.8 per cent.

While traditional scams via calls and SMS persist, the battleground is rapidly extending to online platforms. Messaging apps such as WhatsApp, Telegram, and Line, as well as social media platforms like Facebook and Instagram, have become fertile grounds for these malicious activities.

Adding fuel to the fire are AI-powered deepfakes. A recent report revealed a staggering 15x surge in detected deepfakes in Asia-Pacific in 2023 alone, making scams more sophisticated and convincing than ever. This calls for robust countermeasures and heightened public awareness to safeguard people effectively.

Also Read: 6 cybersecurity criteria for corporate compliance

Collaborative defence offers hope

Thankfully, Asian governments and organisations are not sitting idly by. Singapore, for instance, launched its ninth anti-scam campaign in 2023 to educate citizens on scam identification and reporting methods. The newly established Scam Public Education Office (SPEO) helps bridge the knowledge-action gap by offering crucial information on common scams and prevention strategies.

Singapore is just one piece of the regional puzzle. Countries like Thailand, Malaysia, and the Philippines have also established dedicated departments and nationwide campaigns to empower their citizens against cybercrime.

Equally important in the battle against scams are private sector contributions. Several Asian government agencies and organisations have made joint efforts with Gogolook to strengthen regional defences by signing MOUs, promoting the use of anti-fraud technological tools and services, and forming strategic partnerships for anti-fraud technologies and collaborative research, among other initiatives. They include the Royal Malaysia Police (PDRM), the Royal Thai Police, the Cybercrime Investigation and Coordinating Center (CICC) in the Philippines, and Taiwan’s National Police Agency.

Several companies across various sectors are also actively investing in anti-fraud measures. Singaporean banks, for example, have established specialised anti-scam teams equipped with experts in new technologies like AI and machine learning. These teams continue to expand and innovate solutions such as the “money lock” feature and anti-malware security measures to safeguard customers from falling victim to scams.

Bridging the awareness gap

Despite ongoing efforts, significant challenges remain. People’s lack of awareness is one of the biggest reasons they fall victim to scams. Many remain unfamiliar with the evolving tactics of scammers, which makes them sit ducks for sophisticated phishing attempts, deepfakes, and other online cons. Limited cross-border collaboration also hinders efficient data sharing, making it difficult to track and dismantle complicated scam networks that operate regionally.

Also Read: Securing the future: Navigating the digital transformation in BFSI amid cybersecurity challenges

So, is Asia truly ready? The answer lies in collective action and robust defence strategies.

To address the awareness gap, governments, companies, and organisations across the region must team up to develop accessible educational materials, organise training programs, and sustain anti-scam campaigns. Empowering individuals with enough knowledge and tools to identify and avoid scams is the first line of defence.

Fostering regional collaborations is equally important. Initiatives like the ASEAN Working Group on Anti-Online Scam and the 2023 Regional Anti-Scam Conference in Singapore are all positive steps towards building capacity, training, and information sharing.

Additionally, the collaboration between the Global Anti-Scam Alliance (GASA) and Gogolook, as well as the first Anti-Scam Asia Summit in 2023, have initiated a regional ecosystem for fraud prevention in Asia. Further effort is important to sustain momentum. Measures such as establishing information-sharing platforms and enabling a cross-border exchange of expertise are essential to dismantle transnational scam networks and build regional resilience.

Unity key to a secure future

The battle against digital scams is ongoing, but through unity, we can gain and maintain the upper hand. By investing in public awareness and fostering regional collaboration, we can create a safer digital future for all of Asia. We must remain vigilant and adapt to effectively combat this mutating threat. The time to act is now.

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AI is the buzzword of the day. Recently, I became curious about how precisely AI affects the fast-paced fintech industry. From the perspective of the CEO of a leading tech company in Vietnam, this question sent me on a mission of discovery that has led me to uncover some amazing insights, which I can’t wait to share with you in this article. 

In my opinion, the combination of fintech with AI is more than simply a fad; it’s a revolutionary development. It’s rewriting the rules, reinventing finance, and opening up new avenues for efficiency, creativity, and opportunity for consumers and corporations.

Overview of AI in the fintech market

These days, the top five technologies that reflect the most significant developments in fintech are AI, cloud computing, blockchain, big data, and the IoT. AI may have the most applications out of all of them because it’s crucial to process automation and data analysis. 

One of AI’s benefits is its ability to integrate seamlessly with other digital technologies. Its capabilities have expanded significantly as a result of this form of collaboration. AI may now be used for many fintech applications, including security, customer service, auditing, and many more, thanks to this feature. 

Highlighted AI’s roles in fintech

All types of businesses are searching for ways to improve their operations through the use of digital technologies. A vital part of the digital infrastructure employed in many financial processes is artificial intelligence. Naturally, increasing corporate profitability through a range of benefits and business opportunities is the ultimate goal of AI-powered solutions.

Also Read: Is voice the next revolution in fintech?

Here are a few AI in fintech highlights:

• Enhance the customer experience.
• Increase the effectiveness of operations.
• Reduce operating expenses for a business.
• Obtain a benefit over competitors.
• Reach precise forecasts and analyses.
• Identify fresh business prospects.
• Improve control over risks.
• Increase property and asset security.

Top five CEO’s recommendations to use AI in fintech

Robotic advisors and AI assistants

These customer-focused solutions are typically integrated into more sophisticated online banking software. However, they can also exist as standalone mobile or web applications. Typically, they use SMS, in-app conversations, or mobile alerts to interact with clients. 

These fintech AI assistants make it possible to use tailored strategies to enhance the customer experience and address a wide range of important topics, including financial advising and account security.

Systems for automatic fraud detection

The vast majority of them would like to claim that fraud is being prevented by AI technologies. By doing this, fintech companies attract partners and customers while discouraging potential illicit activity. For example, PayPal and Mastercard use AI and ML-based data processing systems to identify potentially fraudulent activities and other dubious conduct in real-time.

AI-based tools for adherence to regulations

Many fintech organisations use similar technologies to comply with applicable laws, much like the prior type of AI solutions. Strict laws are enforced in many states about know-your-customer (KYC) procedures, data protection, anti-money-laundering (AML) measures, and other mandatory programs for the finance sector. Financial service providers utilise AI analytics in conjunction with machine learning and Big Data technology to adhere to such rules and norms.

Investment and trading

AI) algorithms are used in trading and investing for portfolio optimisation, high-frequency trading, and the creation of investment strategies.

These algorithms are capable of identifying market trends, analysing enormous volumes of financial data, and executing transactions very quickly. Their goals are to reduce risks and maximise rewards.

Credit scoring

AI-driven credit scoring evaluates a person’s creditworthiness using machine learning algorithms. To give a more precise and comprehensive credit evaluation, these models take into account a wider variety of data, including non-traditional data sources. Those with little credit history will especially benefit from this. 

Recent AI in fintech for the APAC market

Although the use of artificial intelligence (AI) tools is anticipated to propel financial technology enterprises in the Asia Pacific area, this is only partially the case. 

Also Read: 6 common questions about establishing a fintech company in Vietnam

According to ResearchAndMarkets.com’s most recent projection, the Asia Pacific fintech market for AI is projected to develop at a compound annual growth rate (CAGR) of 17.7 per cent between 2022 and 2028.

By analysing many financial accounts, AI is used in the banking industry to evaluate a person’s overall financial health, provide real-time updates, and provide individualised advice. 

By effectively analysing enormous volumes of client data to comprehend their preferences and wants, banks and fintech companies can leverage AI and machine learning to improve customer relationships. 

Clear predictions of AI transforming the fintech industry

Greater efficiency, higher work quality, and a better user experience are what AI already provides, and the fintech industry has very bright futures for it. 

Fintech businesses, for instance, can leverage this technology to develop innovations like recommendation systems, robo-advisors, and decision-process automation that help customers with investment questions or financial challenges.

As a result, AI offers enormous promise for fintech companies and their customers, but it also requires precision, attention, and consistency. With these principles in mind, artificial intelligence (AI) can assist fintech companies in strengthening their relationships with clients, enhancing their competitive edge, and increasing revenue.

AI is headed, and so are you

Fintech businesses—which range from online banks to payment processors to stock trading applications—are progressively utilising artificial intelligence (AI) to streamline processes, enhance judgment, and boost operational effectiveness.

Since artificial intelligence is utilised daily to improve efficiency and facilitate decision-making, it is anticipated to become more and more common in the banking sector. It is the current time’s BIG THING.

By integrating AI into quality management, fintech organisations can maintain a competitive edge and ensure that their products and services meet the highest standards of quality.

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Launched in Asia in 2022, Ingenico’s StartupIN Program has expanded its horizons beyond regional borders, welcoming startups from across the globe. With a dedicated focus on seamlessly integrating promising commerce solutions into Ingenico’s ecosystem, StartupIN serves as a collaborative ally for early-stage startups venturing into physical in-store environments, bridging the gap between the real and digital worlds through Ingenico’s omnichannel payments and commerce solutions. 

Catered to early-to-mid-stage startups, the program acts as a platform for identifying and supporting the growth of new and innovative in-store payments and payments-linked solutions. For startups, participation in the program means a strategic partnership with Ingenico, providing access to its global network, expertise, and exclusive events for mentorship and business development. The partnership accelerates market entry, enhances credibility and visibility, and bolsters their market presence.

Ingenico’s transformative journey to a dynamic point-of-commerce technology provider

Ingenico’s transformation from a hardware-focused point-of-sale organisation to a dynamic point-of-commerce technology provider is marked by innovations such as AXIUM, a smart payment platform, along with a comprehensive suite of Managed Services and value-added commerce solutions to support diverse business environments. The transformations underscore Ingenico’s commitment to innovating the in-store payments space and are further emphasised through the StartupIN program, where startups leverage Ingenico’s global network and industry expertise to fuel growth and innovation.

Also read: How AppsFlyer helps brands navigate a rapidly evolving market

Driven by a mission to push boundaries within the payment ecosystem, StartupIN aims to elevate commerce solutions to meet the evolving needs of tomorrow. The goal is clear: to become the go-to destination for in-store innovation, facilitating collaboration, and driving transformative change in the retail landscape.

Ankit Maheshwari, APAC Startup Engagement Lead, StartupIN Program elaborated, “Ingenico has more than 40 years of experience in the payments industry and we have continuously grown and deepened our capabilities in this space. We believe that partnerships are key to driving innovation in in-store payments. StartupIN is our innovation and collaborative playground where we bring our expertise and global network together with inventions from startups to build forward-looking commerce solutions.”

StartupIN: The in-store commerce specialist

In the Asia Pacific region, around half of retailers anticipate a portion of online spending moving towards brick-and-mortar stores, with 42% expecting foot traffic to return to pre-pandemic levels. This trend presents a significant opportunity for startups to explore omnichannel solutions. At the forefront of this transition is the StartupIN program, which distinguishes itself through its focus on guiding startups in navigating in-store environments. 

Despite being founded just two years ago, StartupIN has clearly defined objectives: to champion innovation, foster collaboration, and serve as the bridge between in-store innovation and global commercial opportunities for startups. To determine if startups are a good fit for the program, StartupIN evaluates them based on four key criteria, known as the 4T’s -Team, Technology, Traction & The Ingenico fit.  

Acknowledging the ever-changing nature of startup environments, where market trends, technological advancements, and business pivots continuously evolve, the program is designed to be highly responsive to these changes. Partnering with startups, the program helps to navigate challenges including corporate environments and hierarchies, bridging gaps, and making the necessary connections. 

“As a relatively new entrant to the market, we embrace an agile mindset, shaping our processes to prioritise quicker delivery and seamless collaboration. With our past collaborations, we’ve streamlined delivery times from three weeks to a maximum of two months, depending on the complexity of the project. We know that startups have their hands full, so we keep things efficient, taking into account their limited resources and business goals. By working with us, startups also take on minimal risk, as no equity is involved.” expressed Ankit. 

Beyond facilitating short-term collaborations, StartupIN is committed to cultivating long-term relationships with emerging startups. The program primarily focuses on APAC and European markets, having successfully engaged startups such as Pi-xcels, Triple A, Crowdshop, Anycover, Kosmo, Savee, and Payex, with ongoing Proof of Concepts in Brazil and Spain, showcasing a diverse array of innovative solutions in the payment landscape across various industries.

Startups are attracted to StartupIN for various reasons. Firstly, the program provides a streamlined process and reduces risks for startups, ensuring efficiency and effectiveness. The straightforward onboarding process facilitates quick integration, and startups receive tailored mentorship. Furthermore, StartupIN’s participation in key industry events like the Singapore Fintech Festival and Paytech, Ingenico’s annual global event for its clients, offers valuable networking opportunities and the chance for startups to co-exhibit, boosting visibility and engagement in the startup ecosystem.

Also read: Taipei City Launches “Global Pass” to support Taipei startups in expanding abroad

“Throughout the year, StartupIN actively participates in various industry events, offering our partners opportunities to shine through exhibitions and speaking engagements. For example, Pi-xcels joined the StartupIN Program in January 2023, and within a record time of four weeks, we jointly developed a Proof of Concept (POC). Subsequently, we enhanced demo capabilities and initiated conversations with customers across Europe, Brazil, and Asia. The level of engagement of startups can vary, taking into account factors such as the startup’s profile, founder, solution type and other criteria to capture the key interest of shareholders. Pi-xcels further excelled when they won the pitch contest at Paytech 2024, sparking interest amongst many of Ingenico’s customers.” shared Ankit.

StartupIN and the road ahead

Looking ahead to 2024, StartupIN plans to continue supporting innovative solutions that positively shape the commerce landscape by enhancing its go-to-market strategy and transitioning POCs into the pilot phase, building on 2023’s successes.

To refine its approach, StartupIN collaborates closely with innovation teams in the banking sector to identify suitable startups for potential 3-way POC co-creation and tailoring solutions precisely to meet partners’ and market needs. Additionally, it strengthens relationships within the fintech ecosystem through partnerships with ecosystem players and venture capitalists (VCs), aligning with its commitment to fostering innovation in the financial technology space.

Also read: Nagoya University: Asia’s extensive network of innovation, research, and education

“At its core, StartupIN’s mission is about empowering people and pushing the boundaries within the payment ecosystem. We embrace an open-minded approach and part of StartupIN’s journey involves discovering new startups along the way while continuing to support innovative solutions that positively shape the commerce landscape. Over the past 12 to 18 months, the program has evolved significantly to ensure its relevance and effectiveness in supporting startups’ evolving needs. Navigating in-store payment and commerce solutions can often be daunting for startups, especially without a clear playbook like their virtual counterparts. However, as the online and offline worlds converge and consumers demand seamless omnichannel experiences, the StartupIN program is here to lead the way.” Ankit added.

For startups curious to learn more about StartupIN and the program, find more information at: https://ingenico.com/en/partners/startupin.

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This article is produced by the e27 team, sponsored by Ingenico

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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We live in a world where the lines between the physical and digital realms are blending. The Altair Technology Conference in July 2023 gathered engineers, product designers, and tech experts to explore the ‘Phygital’ world. This term combines ‘digital’ and ‘physical’, signifying how these two aspects now intertwine in our daily lives.

Technologies like augmented reality (AR), virtual reality (VR), physics simulations, AI/ML, the Internet of Things (IoT), and smart devices are reshaping industries and changing how we live, work, and shop. In this changing landscape, customer expectations are evolving quickly.

As product designers, we’re adapting by focusing on human-centred designs that prioritise sustainability, user-friendliness, safety, and faster development. Traditional product development silos are disappearing as innovative tools and technologies are paving the way for collaboration and simultaneous engineering, thus shortening the development cycles while raising quality and decreasing costs.

Human-centered design

One exciting technology is “Human-in-Loop,” which lets humans and machines interact in real-time to optimise designs by understanding forces, strains, and key parameters. This isn’t just for big corporations; even smaller suppliers can use these virtual systems to develop their parts efficiently, as seen with companies like Fluidon and T-Systems.

Also Read: Southeast Asian Web3 startups shine in 2023: Meet the trailblazers

As we navigate this blend of the virtual and physical, we’re entering an era where innovative and efficient products are developed faster. Real-time simulation is overcoming verification challenges, marking a game-changing era.

Augmenting reality with virtual sensors

Looking ahead, engineering software companies with data and AI capabilities can create Large Design Models (LDMs), smart tools that virtually assemble products based on instructions, even with limited data.

The Phygital world isn’t just changing industries; it’s revolutionising healthcare. People with chronic conditions, such as diabetes, can benefit from IoT-connected devices. For instance, a glucose monitor can transmit real-time blood sugar data to a smartphone app.

Based on a range of personal parameters, including factors like RBC count and demographics, the smartphone will provide recommendations for dietary intake and actions to take while simultaneously activating the corresponding colour code on the glucose monitoring device’s screen. This allows patients to receive immediate feedback, helping them manage their condition more effectively and improve their overall quality of life.

Digital and physical application

The Venn diagram provides an example of how the fusion of the digital and physical in the ‘Phygital’ world brings powerful outcomes, enhancing healthcare in real-time.

Financial organisations leverage the digital twins, which are the foundation of phygital technology, to enhance client experiences and even thwart fraud. A combination of near real-time simulations, data, and real-time activity monitors make a formidable combination in preventing fraud from taking place.

Altair stands with you as we navigate the intersection of physical and digital realms in the thrilling ‘Phygital’ era. Together, we illuminate the path to a future where these worlds converge, fostering innovation, collaboration and growth.

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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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This article was first published on October 2, 2023.

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It’s estimated that the average professional receives around 65 emails per day in the working week. And that’s excluding all those that fall into the spam folder. For those working on the frontlines of customer service, this email volume expands enormously.

In 2024, manually handling customer emails or relying on traditional ticketing systems seems highly inefficient amidst the rapid tech innovation in global markets, particularly in Southeast Asia. This region has leapfrogged the dot-com boom, normalised mobile wallet usage, and even pioneered vertical farming technology.

So then, why is it that in an age marked by the rapid progression of artificial intelligence (AI), particularly through generative AI and Large Language Model (LLM) technologies, Southeast Asian customer service agents continue to grapple with the relentless influx of customer emails? And what implications do businesses face when their agents are unable to address the mounting queries flooding their inboxes?

Shortcomings of traditional ticketing systems

Global research reveals that 54 per cent of consumers prefer using email for customer service, making it the most popular channel for support inquiries. However, traditional ticketing systems present several limitations that hinder their effectiveness.

Firstly, scalability remains a significant challenge, with high costs associated with infrastructure, personnel, and licenses. These systems often require substantial investment in maintenance and training, contributing to prolonged downtimes and delays in addressing customer inquiries.

Also Read: How to revolutionise the banking and finance industry with Robotic Process Automation

Moreover, the lack of 24/7 availability and manual processing bottlenecks lead to increased workload and slower response times, resulting in frustrated customers and reduced satisfaction levels. Traditional ticketing systems also struggle with personalisation due to manual data handling and limited access to customer information. These systems often rely on outdated processes for content updation, leading to inconsistent responses and prolonged resolution times.

Indeed, almost two-thirds of consumers have experienced being ghosted by company customer service, and 84 per cent of customer service agents cannot answer questions on the first interaction. In a market where customers are being more cautious with their spending, brands need to ensure these customers come back and remain loyal. And very often, these essential customer interactions start in the email inbox.

Impact of unsatisfactory resolutions: Unhappy customers and revenue loss

It is no secret that Southeast Asians have high expectations from the brands they purchase from. And brands that fail to meet these expectations risk losing that customer’s loyalty for good. A recent study revealed that Southeast Asian consumers will significantly cut their spending on a brand after a poor experience.

The same report found that SEA companies risk losing 14 per cent of their revenue due to poor customer experience – around US$165 billion across the region. This is a staggering figure that businesses cannot afford to ignore in an increasingly competitive landscape.

But, business leaders need to be mindful that SEA is not a homogenous region. Instead, SEA is a cultural melting pot of 655 million people spanning hundreds of ethnicities and over 1200 languages spoken. Consumers in each market not only expect communication in their own language but also in a manner and tone that reflects their linguistic and cultural nuances.

How can email automation help in instant and personalised human-like support

Despite being one of the most ubiquitous parts of business operations, email innovation has remained relatively stagnant and under-valued when compared to other facets of digital transformation. But that is rapidly changing with solutions that are enabling instant, personalised,  and scalable customer support like never before.

In the past, email automation technology was mostly limited to sending one-size-fits-all email communications to customers. However, advances in generative AI and LLMs are widening the scope of this automation significantly.

Also Read: Automation: Are you leading or lagging in the race?

Unlike outdated automation tools, which largely generate generic and robotic responses, modern email automation solutions have the capability to understand complex, unstructured emails, deciphering various tones, intents, and entities.

Recognising the value of authentic human connection, these advanced solutions, powered by LLM technology, are adept at providing accurate and empathetic responses in natural human language. They seamlessly extract relevant information from knowledge bases, facilitate escalations, and route queries to agents, if required, ensuring a swift and efficient resolution process.

Moreover, through the integration of customer insights from databases and alignment to content guidelines, these solutions generate contextually relevant responses, effectively addressing customer issues while maintaining consistency with brand messaging.

Gen AI-powered Email Automation solutions also enable quick automatic classification of email queries based on intent, urgency, and customer segment to reduce time spent by human agents in prioritising incoming emails manually. For example, if a service has gone down, AI tools can help segment all emails relating to that particular incident, ensuring efficiency and promptness in their customer service teams. This has a significant impact on improving agent productivity.

Critically for SEA business leaders, advanced email automation tools can be personalised for different linguistic markets. Using the right language for the right SEA market will ensure an instant connection between the brand and the individual customer.

This simple but critical solution can overcome a huge barrier in customer interactions. With this, customer representatives reduce the risk of miscommunication and can focus on problem-solving as opposed to language translation.

No SEA business, whether large or small, is immune to the headaches of a mounting inquiry inbox. However, innovation in email automation means this should no longer be the case.

Thanks to generative AI-powered email automation, businesses have the potential to both speed up and enhance their customer service. Those who are prepared to think big can create a truly scalable email support operation by self-serving incoming email queries in multiple languages, round-the-clock.

From a bottom-line perspective, automating email queries will naturally save businesses costs in hiring and training more agents. Above all, though, it will free vital time and resources to concentrate on the elements that matter the most to customers: incredible products and services and an empathetic, meaningful human engagement when it’s required.

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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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