Whether in small startups or large enterprises, standard operating procedures oftentimes guide operational efficiency and cost-effectiveness, delivering on the business performance expected by stakeholders. Their governing principle? “Doing things right” — to minimise errors and ultimately make the recipients (checkpoints in the processes) satisfied.

In the early 2000s, Google famously adopted “Don’t Be Evil” as their principal motto in their code of conduct. After restructuring as Alphabet Inc, the mantra was dropped and replaced with “Do the Right Thing”, to its fair share of criticism.

Leaders and tough decision-making

After dropping “Don’t be Evil”, there was a shift in attitude towards business, with Google shifting its ethical needle in pursuit of business opportunities. In 2018, there were revelations that Google was actively involved with the Department of Defence for drone surveillance technology — prompting 4,000 outraged and concerned employees to sign an internal petition protesting the partnership. Was Google dealing with technology for making killer machines “Doing the right thing”?

Leaders are constantly faced with tough decisions in day-to-day engagements within their businesses. Understandably, profit margins are at the heart of every business and its success, so how do you continue to do things right while doing the right thing?

“Doing the right thing” goes beyond simply achieving profitability; it encompasses the responsibility of balancing the needs of the business with the demands of society, your staff, and your moral compass.

According to the Global Leadership Forecast 2023, only 46 per cent of employees trust their manager to do what is right, with the number dropping to 32 per cent for senior leaders. It is paramount that leaders be able to navigate the complex landscape of business survival while upholding the need to do the right thing.

The two pillars guiding decision-making

At the core of “doing the right thing” in leadership is integrity — involving consistent adherence to a set of moral principles and values, even in the face of challenges or temptations. An integral leader is honest, transparent, and takes responsibility for their actions. They inspire trust and create an environment where employees feel safe and valued.

According to Harvard Business Review, all organisations, regardless of performance level, ranked integrity and ethics as the most important characteristics of leadership. When leaders lead with integrity, they set the tone for the entire business, fostering a culture that promotes ethical behaviour and accountability.

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

Working hand in hand with integrity, ethics provide the framework within which leaders make decisions. Ethical considerations in leadership weigh the impact of one’s actions on various stakeholders, including employees, customers, shareholders, and the wider community their business affects. Ethical leaders prioritise doing the right thing, even when it may not be the easiest or most profitable path.

They understand that long-term success is built on trust and reputation, which can be easily eroded by unethical behaviour. By demonstrating ethical conduct, leaders inspire their teams to follow suit, creating a positive and sustainable business culture.

I was once offered a very attractive job offer to relocate and lead a marketing team for one of the largest cigarette companies in the world. The marketing budget alone ran into hundreds of millions a year, which is the dream of any marketer. Despite this, I did not accept the offer simply because it goes against my ethos.

Leading with integrity and ethics often means making tough decisions that may not be easy or popular choices. As the founder of a burgeoning health-tech startup, I found myself facing a challenge similar to Google’s profit-driven exploits, albeit on a smaller scale.

Drawing inspiration from Geoffrey Moore’s seminal work, “Crossing the Chasm,” I have come to appreciate the relevance of his insights in guiding our startup through its evolution. Moore’s theory emphasises the significance of new technology transcending its early adopters and making inroads into the mainstream market, ultimately leading to scaling up.

With that, the influx of interest from potential partners presented a dilemma. While a wider adoption of our health-tech solution could propel us into the mainstream in line with Moore’s theory, I grappled with concerns about its ability to deliver enhanced productivity and convenience in the realm of healthcare through all the partners, two cornerstones of our business ethos.

Ultimately, I made the conscious choice to be discerning in selecting our partners, prioritising the genuine benefit our solution brings to both partners and users over immediate expansion and profits. It was a tough but right decision to make.

Also Read: Why all leaders need to understand the impact of modern observability

The ability to make tough decisions requires courage, integrity, ethical reasoning, and a deep understanding of the organisation’s purpose and values. It is during these challenging moments that leaders have the opportunity to demonstrate their commitment to doing the right thing, even when it comes at a cost.

Strategies for leading with integrity and ethics

Although I recognise there is no one-size-fits-all approach, there are strategies that can help leaders navigate the complexity of balancing business survival, profitability, and “doing the right thing”.

Firstly, it is imperative for leaders to articulate a clear set of values and ethical guidelines that serve as the cornerstone for decision-making processes. These principles not only offer a framework for navigating complex choices but also provide a reference point for you and your employees, aligning actions with the business’ overarching mission and values.

In doing so, you can cultivate a harmonious and purpose-driven work environment where ethical considerations are paramount in every decision made.

Secondly, leaders should place a premium on fostering open and transparent communication within the organisation. By prioritising a culture of honesty and openness, leaders can lay the groundwork for trust and accountability to thrive.

Clear and candid communication channels enable employees at all levels to voice concerns, share ideas, and contribute to the business’ growth, ultimately fostering a cohesive and inclusive work environment.

Whilst you make the final decision, the opinion of everyone on board should be taken into consideration. This commitment to transparency not only bolsters trust but also engenders a sense of ownership and responsibility.

Finally, it falls upon leaders to lead by example by exemplifying ethical behaviour and integrity and upholding the business’ values through their actions. By consistently demonstrating integrity, honesty, and ethical conduct, leaders set the standard for others to follow.

Also Read: Neuroscience to the rescue: How startups can dodge burnout

Moreover, holding both themselves and others accountable for their actions reinforces the business’ commitment to ethical conduct. Through this demonstration of ethical leadership, organisations can instil a culture where ethical behaviour is not only encouraged but expected, permeating every facet of the organisation and guiding “doing the right thing” at all levels.

The lasting impact of  “doing the right thing”

Embracing integrity and ethics in leadership is crucial for balancing business survival, profitability, and ultimately “doing the right thing”.

Leaders who prioritise doing the right thing create a culture of integrity, trust, and accountability. They navigate the challenges of tough decisions by considering the impact on various stakeholders and aligning actions with their values.

Doing the right thing in leadership has a lasting impact on company culture, fostering an environment where employees feel valued and motivated. By leading with integrity, leaders can build trust and credibility and, ultimately, achieve long-term success for their organisations.

Nelson Mandela, a personal hero of mine, once said a quote that I keep close: “A good head and a good heart are always a formidable combination.”

 As we strive to “do things right” daily, always ask of ourselves if we are “doing the right thing” in our decisions.

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It’s more important than ever for brands to be socially responsible. Consumers are keeping a close eye on what businesses are doing to give back to the community and  support employees throughout the pandemic. And, they aren’t afraid to call out businesses on social media if they feel they’re not doing enough to give back. 

As a result, social media is booming as we continue to wrangle the challenges facing us as a society. Consumers are increasingly using their hard earned cash to vote for the future they want to live in. The majority of Singaporeans agree that they are more likely to purchase from brands with a strong social conscience.

Here, we examine best practice and guidelines for brands looking to publicly communicate their social conscience.

Support through legitimate effort

Consumers want businesses to address the social injustices confronting our world, including equality and climate change. Although, at the same time, consumers are sceptical about ‘woke washing’ where businesses are leveraging these issues as marketing stunts, rather than genuine acts of activism and solidarity. 

Consequently, brands are being denounced for inauthentic effort. In the case of Singapore’s Pride Season, IndigNation, which is celebrated nationally in August each year, many brands have been criticised for ‘rainbow washing’ where they used the rainbow colours or flag, but do not undertake any tangible work to support the LGBTQIA+ community. 

For brands seeking to demonstrate their social conscience, it’s imperative to consider what value they’re adding and what the desired outcome is. Corporate allies and advocates have an important role in society and can champion meaningful change, however, it must feel credible to consumers and the public.

This can be achieved through brand storytelling, with leaders revealing why they are so passionate about the cause and the brand’s journey to relevant efforts of activism. 

Reflecting on IndigNation as an example, brands could look to showcase stories from the LGBTQIA+ community, use their money and platform to address real issues or be educated on the issues faced by the community.

Also Read: How these four India-based startups are impacting the earth

Align social conscience with brand values

Before commenting on social justice issues, businesses should ensure they have a clear track record of actively supporting the cause.

During last year’s global Black Lives Matter (BLM) movement, Ben & Jerry’s rallied against racial inequality and were vocal advocates. With decades of experience in campaigning for a range of social justice issues, such as refugee and human rights, climate change and gender equality, Ben & Jerry’s published one of the strongest public statements regarding the #BLM movement.

The brand went so far as to claim that police brutality “is perpetuated by a culture of white supremacy”. Validating this with real action, Ben & Jerry’s published on its website a list with actionable steps to demolish white supremacy as an open source for other businesses and leaders to lean on.

Corporate activism must be bolstered by a brand’s values in order to feel authentic. In this case, Ben & Jerry’s has a robust history of educating employees and consumers about structural racism and inequality, is focused on diversifying the recruitment process and has created foundations to support important social causes.

As a result, Ben & Jerry’s is a superb example of a business that’s corporate activism is intrinsically matched with its brand values. 

Reinforce with real action

In order to comment on social justice movements, brands must display real action to address the challenges and champion change. 

For example, Bettr Barista believes that coffee can taste good and do good for society too. The brand is committed to changing and improving the lives of marginalised women and youth at risk.

Bettr Barista holds specialty barista classes and over 1,200 professional coffee courses for those looking to upskill. All proceeds go to supporting higher education for youth and communities in need. 

This is an enthralling example of a brand putting its money where its mouth is, while using its platform to champion socially responsible practices and have a positive, far-reaching impact that serves a greater purpose. 

It’s more important than ever before for brands to be socially engaged. In an era where customers hold all the power, brands are being summoned to remain relevant by demonstrating their commitment to a better future. This means being aligned with consumer ideals and important social justice movements. 

There’s generally a fine line between brands doing the ‘right’ thing and being labelled opportunistic. With this in mind, it’s vital to thoughtfully consider what value can be added to the movement and whether their social conscience is in tune with a brand’s actions. 

Brands should be looking to get behind the movements that are important to customers. And if unsure what these are, the best way to find out is to simply ask.

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This article was first published on September 1, 2021

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As businesses receive stronger pressure to focus on their environmental impact, startups across Southeast Asia (SEA) offer their expertise to help businesses achieve their sustainability goals. In Malaysia, one example of such a startup is Pantas.

Co-founded by Eong Tat Ooi, Nurul Syaheedah Jes Izman, and Max Lee, Pantas enables businesses to track, manage, and disclose their ESG metrics, with a particular focus on carbon emissions. It aims to address inherent pain points in the traditional process of managing ESG metrics, such as manual data handling and the scarcity of specialised climate expertise.

In March 2023, Pantas became the main software partner and coordinator of the Central Bank of Malaysia’s Greening Value Chain (GVC) Programme, an initiative to assist SMEs in implementing impactful long-term change to green their operations. It serves as a customised solution to enable large corporate buyers (“anchors”) to measure and manage their supply chain emissions (known as Scope 3), facilitating anchors to address regulations such as the EU’s Carbon Border Adjustment Mechanism (CBAM).

Starting from its Kuala Lumpur headquarters, Pantas has expanded to Thailand and Indonesia with a team of over 20 employees. The company has raised a US$2.5 million seed funding round from VCs and angel investors.

Serving clients from a wide range of industries, from healthcare to aviation, Pantas collaborates with both local and international partners such as Huawei, Solarvest, Safetruck, SOLS Energy and more, to offer smart bespoke decarbonisation solutions to businesses looking to manage their emissions.

Also Read: Why Quest Ventures believes that the human-centricity of ESG investing will be more apparent

The following is an edited excerpt of our interview with it.

Please tell us about your product development process and how you developed this solution.

In developing our solution at Pantas, we recognised a significant gap in the market, particularly in SEA, where businesses grappled with the challenges of carbon emission management and disclosure. The prevalent reliance on manual processes not only introduced risks of human error, misreporting, and potential greenwashing but also hindered companies’ ability to manage and communicate their decarbonisation efforts effectively.

Motivated by the urgent need for a more efficient, accurate, and user-friendly approach, we set out to innovate a solution that would alleviate these pain points. Our product development was driven by a deep understanding of the complexities involved in carbon management and a commitment to empowering businesses to meet and exceed regulatory and stakeholder expectations.

Through leveraging advanced technology, Pantas developed a platform that transforms the arduous task of measuring carbon emissions, recommends smart decarbonisation strategies from ecosystem partners, and facilitates access to specialised financing options through its network of banking partners. This end-to-end experience enables our clients to lead with confidence in their sustainability initiatives whilst promoting operational efficiency and building long-term resilience.

Who are your users? How do you acquire them?

Our clients are large enterprises/listed companies whose regulators or customers mandate disclosure and reduction of their carbon footprint. With the rise of global climate regulations like the International Sustainability Standards Board (ISSB) under IFRS and stringent EU regulations (such as the EU’s Carbon Border Adjust Mechanism), the number of disclosures impacting these companies is growing.

At Pantas, we respond to this need by offering a customised carbon management and ESG platform designed to streamline the tracking, management, and reporting process, ensuring our clients comply with these regulations and lead in corporate environmental responsibility.

Also Read: How STACS aim to help businesses comply with ESG regulations with its ESGpedia tool

What is your revenue model? How do you balance between creating an impact and making a profit?

Pantas operates on a Software as a Service (SaaS) model, where clients subscribe to our solutions on a yearly basis. The subscription includes our cutting-edge management platform and includes added features/services such as API integration with ERP systems, tailored decarbonisation strategies, and access to financing through its network of banking partners.

As part of the offering, Pantas provides its clients with a white-glove service where the solution will be customised to meet each client’s unique needs.

Our revenue model is designed to align our success with that of our clients; we view ourselves as a software provider and a committed partner in their sustainability journey.

Can you tell us about how the Central Bank of Malaysia partnership came to be?

The partnership between Pantas and BNM for the GVC Programme was initiated at a crucial time when global awareness and regulations focusing on supply chain emissions (such as EU’s CBAM) were on the rise.

Given the complexity of measuring and managing supply chain emissions, an end-to-end solution was needed to achieve GVC’s goal effectively. As a result, the programme includes the relevant capacity building, technical advisories, a simplified carbon management and ESG platform from Pantas, and sustainability-linked financing for SMEs, where SMEs benefit from reduced financing rates upon achieving carbon reduction targets.

What is your major plan for 2024?

In 2024, we are focusing on expanding our business with a strong emphasis on international growth, particularly in Thailand, where we have hired local expertise to serve the Thai market better.

Also Read: For startups, embracing ESG focus is a sure-fire way to secure corporate success

In addition, we are deepening our collaborations with new and existing decarbonisation partners, especially in renewable energy, waste management, and Battery Energy Storage Systems (BESS).

Furthermore, we are strengthening our engagement with financial institutions to promote and facilitate sustainable finance across the region more effectively.

For Pantas, 2024 is poised to be a year of leveraging strategic partnerships, fostering innovation, and championing sustainable practices as we aim to expand our footprint both locally and internationally.

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Image Credit: Pantas

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As founders, is any topic more top of mind these days than AI?

Here on e27, it certainly doesn’t seem that way, with recent reports from fellow contributors on artificial intelligence in the context of anything from productivity to mental health. 

Some of the work done in the region is even hitting the world stage, like Vietnam’s ELSA Speak landing a spot in the Top 30 Generative AI tools.

But another side of AI is seeing less discussion: the potential massive displacement that AI could bring about.

And when I say massive, I mean massive.

In a recent report, the International Monetary Fund warned that artificial intelligence could affect nearly 40 per cent of jobs worldwide. 

On the one hand, this means the potential for companies to do more with less. 

But what does this mean for our jobs and that of our teams?

Let’s dive in.

Why AI has been on the rise 

First of all, why is AI adoption progressing so quickly, especially in startups?

The answer is (as always) in the numbers.

According to Bain, AI makes work up to 41 per cent faster. 

Indeed, 81 per cent of Generative AI users we polled said they’re already more productive thanks to Generative AI.

As the research shows, AI helps them automate Email and Communication (50 per cent), Data Analysis and Reporting (45 per cent), and Research (42 per cent).

Early Copilot users agreed in a study that its maker, Microsoft, recently released and largely said they would never want to go back to a work-life without AI. 

As startup founders looking at how to manage our time and resources best in 2024, it’s hard to say no to those kinds of productivity gains. 

The one-person unicorn

But it goes further than that. 

If Generative AI continues its high velocity of capacity and capability improvements, we can do more and more without needing to hire large teams.

Also Read: AI and ethics in digital marketing: Building trust in the tech era

Just look at the next generation of ChatGPT.

In an interview with Bill Gates, Sam Altman shared how ChatGPT 5 will be immensely more powerful, with stronger reasoning skills and vastly improved reliability. 

OpenAI will also add video as one of its ‘models,’ allowing ChatGPT to become an integrated companion in how we live and work in 2024.

More recently, Sam Altman shared how all these improvements will eventually lead to someone creating a one-person unicorn.

This aligns with one of my 2024 Predictions and builds on previous insights from Ben Parr of Octane AI. In a podcast interview, he said, “People are realising how much of their companies they could automate. I believe that there will be a billion-dollar company built in the next five-ish years that has one to three people at the top because you can automate almost everything else. It’s going to happen.”

NFX’s James Currier explains how this may sound far-fetched but how it’s actually very possible, “They will be able to develop software faster and better with AI dev co-pilots. Run sales prospecting, qualifying, and outreach with AI automated systems. Run marketing campaigns with AI optimisations.

Run AI customer service and success faster and with higher quality. Run accounting and legal cheaper and faster. Run analytics with more detail, less fuss, and better results. Set up self-healing data pipelines. Set up automated workflows. File taxes and other government requirements. All with AI.”

While we are far from a unicorn, we transitioned to this kind of team last year, focusing on a small group of high-performing team members who use AI daily to create exponential outcomes.

This helps us stay agile and innovate quickly, while as a company, we benefit from reduced overhead – from payroll to employee engagement costs.

How AI will drive job losses in the region

Whether you aim for a 1-3 person unicorn or not, it’s clear that AI will lead to job losses, including in our region. 

In their report “Gen-AI: Artificial Intelligence and the Future of Work,” the IMF predicts that 40 per cent of jobs will be affected by AI. 

Also Read: AI transforming LinkedIn content: Our custom GPT journey

The researchers highlight that AI can perform tasks that usually require human brain power, like processing language, recognising patterns, and making decisions. Many jobs could become redundant as AI improves at taking over our work.  

A second report by Goldman Sachs pegs the number lower at 18% of full-time jobs globally but still at an incredible 300 million roles. 

It lists Hong Kong and Singapore as most affected in the APAC region, with developing markets like Vietnam (where I am based) impacted less, and later, due to lower labour costs, there is less pressure to automate jobs.

Examples of jobs popular in the region that AI could replace are:

• Coders: Software companies and “dev shops” lead AI adoption, with tools like GitHub co-pilot and screenshot-to-code improving coders’ productivity. Consequently, 94 per cent of engineers say AI already leads to lower salaries. As I shared with CNBC, “Even the best engineers will be valuable until they are not.” 
• Customer service: A huge market in The Phillippines, AI-powered customer service is revolutionising the industry, providing quick and accurate responses at a much lower cost and boosting the performance of less skilled employees by up to 35 per cent. 
• Designers. The progress of image-generating tools in just one year is astonishing. It’s not hard to imagine that AI can produce anything you want, cutting out the need for a designer in most cases. The data agrees: right after ChatGPT-4 launched, freelance designer’s rates fell by over 10 per cent. 

Of course, not all jobs will be affected. 

While AI will replace many jobs, especially those with administrative and legal tasks, building maintenance, construction, food services, and personal care roles will be less impacted, according to the Goldman Sachs report.

The bottom line

AI has truly transformed the workplace by 2024 and is set to disrupt work even further.

With 81 per cent of users reporting increased productivity and Bain estimating up to 41 per cent faster task completion, AI will be undeniably attractive for employees and employers – there’s no stopping it. 

For startups, especially in higher-income markets in the region, this means an opportunity – and likely a mandate – to reduce the number of roles and tasks that machines can perform.

Not only does this help the bottom line, but it also helps people focus on the things humans are uniquely capable of and which are more rewarding than emailing, analysis, and reporting.

As AI evolves, especially towards AGI, and replaces more human skills and even full roles, its impacts will be more worrisome. 

This is a future we all need to be ready for – and smart leaders prepare for today.

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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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In the developed regions of the Asia-Pacific (APAC), financial inclusion tells a tale of success; in Japan, 98 per cent of adults aged 15 and above have financial accounts, while South Korea boasts a 95 per cent banking service penetration among the same demographic. 

Southeast Asia (SEA) is also experiencing robust growth. According to the e-Conomy SEA Report by Google, Temasek, and Bain & Company, SEA’s digital economy is expected to reach approximately US$360 billion by 2025.

Amidst this growth, a dynamic narrative is unfolding where younger investors are leading the burgeoning economy of digital finance.

Demand drivers for financial opportunities

The technological transformation of SEA is driven by a highly adaptable, digitally savvy youth. This is evident in their preference for mobile channels, particularly in mobile banking. A study by IT security company Entrust revealed that in SEA, mobile banking usage through apps is notably high, with 65 per cent and 71 per cent of respondents in Singapore and Indonesia, respectively, using these tools predominantly to manage their finances.

Also Read: Leveraging AI and ML in supply chain management for smarter decision making 

Reflecting on this transformation, an EY Singapore report emphasizes, “In 2024, Southeast Asia’s financial services sector will see the profound impact of emerging technologies and strategic innovation. The sector will increasingly be characterised by instant cross-border payments, embedded finance, and core banking modernisation.”​

Besides core financial services, SEA has experienced the rise of novel finance apps and new methods of generating online income. For instance, the play-to-earn model of Axie Infinity gained significant traction in the Philippines, where it became an alternative income source during the pandemic-induced unemployment surge.

However, the rapid growth and popularity of such platforms also highlight critical flaws, including a significant gap in financial knowledge and economic sustainability. The volatility of Axie Infinity, for instance, has sparked debates about the long-term viability of play-to-earn models, raising concerns about players being able to generate sustainable long-term revenue.

While acknowledging the novel efforts of gamified fintech models, innovations are stepping in to offer simplified, accessible entry points into the world of fintech — especially trading and investments. 

Copy trading platforms, for example, allow novice traders to enter the trading space even with little knowledge of trading. New entrants can copy the strategies of seasoned traders and emulate successful trading strategies. 

“Conventional copy trading has apparent benefits for novice users. However, the shortcomings often outweigh the benefits — the technical inefficiencies associated with this model lead to varying results for the copiers. The leading traders’ results will always be different than the copiers’, making it an ineffective tool for portfolio management,” says Bartolome R. Bordallo, Co-Founder and CEO of Zignaly.

AI’s revolutionary impact on fintech

For fintech, the role of artificial intelligence (AI) and machine learning (ML) are pivotal in democratising access to financial services. These technologies simplify complex market dynamics and provide users with in-depth analytics and critical insights that were once exclusive to institutions and professionals.

Social investment platforms, for instance, use AI extensively to enhance tools for retail users. AI’s ability to process information from large data sets makes it a great ally in the trading industry. It can help recommend stocks, predict market movements, optimise portfolios, automate risk management, and manage trading bots. 

Also Read: Navigating the gender divide in the Southeast Asia’s fintech landscape

Another example is the use of AI-powered algorithms like Zignaly’s Z-Score, which analyses data from over 22 million trades. The algorithm evaluates trader performances based on factors like risk, profitability, asset diversity, and management efficiency, ensuring that highly qualified traders are curated through smart algorithms. 

“In Southeast Asia, where the fintech industry continues to grow rapidly, the adoption of AI and ML is especially strong. With the help of new technologies, companies can provide more convenient and affordable services, improve the speed of processing requests, and increase their level of security,” states Natalia Ishchenko, CEO of UnaFinancial. 

With fairness in mind, AI-driven profit-sharing models ensure consistent outcomes for all participants, enabling users to securely delegate their funds to qualified traders through a pooled fund management approach.

Asia’s financial trajectory

As the fintech industry continues to evolve, the emergence of profit-sharing models and user-friendly trading platforms is making professional-grade financial tools available to the mainstream. Furthermore, the integration of AI is democratising algorithmic trading, making sophisticated trading strategies more accessible, affordable and tailored to individual preferences.

The availability of retail-friendly platforms tailored for Asia’s digitally savvy investor base also creates a clear incentive for fund managers to deploy high-quality, successful trading strategies. For platforms like Zignaly, this model has successfully onboarded 500,000 users to connect with over 150 veteran fund managers, who collectively managed US$125 million in digital assets. 

Financial tools are becoming not just sophisticated with AI but also more attuned to the diverse needs of Asia’s growing investor base, elevating the standards of mainstream fintech.

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The role of operators with deep industry experience has become increasingly pivotal in steering investments toward long-term success. As we delve into sectors as diverse as agritech, biotechnology, and edutech, it’s clear that the nuanced understanding and hands-on expertise of seasoned operators can significantly enhance the value and impact of investment decisions.

NewCampus serves as an example within the education sector, illustrating how operator-led investors can drive transformative change in the way we learn and grow. Education companies who join our Animoca and Binance-backed accelerator benefit immensely from the involvement of operators who possess a deep understanding of educational pedagogies, digital learning platforms, and the evolving needs of the global workforce. 

From expertise to investing

We’re not alone. Take, for example, the agritech sector, where companies are harnessing cutting-edge technologies to revolutionise farming practices, enhance crop yield, and address pressing global food security challenges.

In this context, operators with a profound grasp of agricultural sciences, supply chain logistics, and the unique challenges faced by farmers can offer invaluable insights. They not only identify promising investment opportunities but also actively contribute to the strategic direction and operational excellence of these ventures, ensuring that innovations are both practical and scalable.

Also Read: How to launch collaborations that grow communities: A guide for Web3 founders

Companies like Verqor and Arado have made significant strides, not only in advancing agricultural technologies but also in venturing into investing in other companies within their verticals.

Verqor, for instance, has disrupted the agricultural sector with its platform that provides farmers with cashless credits for purchasing supplies and technology, utilising alternative data-driven credit scoring criteria to achieve financial inclusion and technification of fields​

Similarly, in the biotechnology realm, where the stakes involve breakthrough medical treatments and life-saving therapies, the importance of operator expertise cannot be overstated. Operators with a background in life sciences, clinical research, and pharmaceutical development bring a critical eye to investment decisions, ensuring that resources are channelled into ventures with solid scientific foundations and genuine potential to impact healthcare outcomes.

Their expertise is crucial in navigating the complex regulatory landscapes, clinical trial processes, and market dynamics that define the biotech industry.

There are also notable examples of individuals who have seamlessly transitioned from being operators with deep scientific expertise to investors and entrepreneurs, significantly impacting healthcare outcomes through their ventures.

One such individual is Jorge Conde, a General Partner at Andreessen Horowitz, who leads investments at the intersection of biology, computer science, and engineering. Conde’s background in genomics, immuno-oncology, and computational biology, combined with his experience in venture capital, exemplifies the crucial role that operator expertise plays in driving biotech innovations from concept to market.

The integral role of operators

The involvement of experienced operators in the investment process brings a multitude of advantages. Firstly, their industry-specific knowledge enables them to conduct more thorough due diligence, identifying not only the strengths and potential of startups but also the risks and challenges that lie ahead.

Secondly, operators often bring a robust network of industry contacts, opening doors to strategic partnerships, talent acquisition, and market opportunities that can accelerate growth. Lastly, their practical experience equips them to provide hands-on mentorship to founders and leadership teams, guiding them through critical growth phases and operational hurdles.

Also Read: What founders need to know about creating a cap table

Operators act as the bridge between visionary ideas and their tangible realization in the market. They ensure that investments are not merely transactions but strategic engagements that nurture innovation, drive sustainable growth, and ultimately contribute to the greater good.

As we continue to explore and invest in emerging technologies and sectors, the role of operators as stewards of long-term value creation becomes increasingly vital. Their insights and expertise not only enhance the probability of success for individual ventures but also contribute to the broader ecosystem, fostering a culture of innovation that is grounded in practicality, sustainability, and impact.

Moving forward

As we navigate the complexities of the modern business landscape, let us spotlight the role of operators in investment decisions. By leveraging their experience and insights, we can ensure that our investments go beyond mere financial returns, driving meaningful progress and innovation across industries.

Whether it’s transforming agriculture, advancing medical science, or reimagining education, the wisdom of seasoned operators will undoubtedly be a key catalyst for change and growth in the years to come.

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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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AI is a divisive topic today. Ask a room full of people, and you will find yourself speaking to two distinct camps. A 2023 Gartner survey of finance leaders found that 39 per cent of organisations are already using AI or machine learning tools, with 32 per cent reporting uncertainty or having no plans in place to do so. 

Why? Beyond the ethical debates, it boils down to how and why we use AI. At Flexxon, we utilise AI holistically and build this around three key aspects: to enhance productivity, empower customers to be a part of the process, and elevate cybersecurity standards in our products and services.

Implementing AI-powered solutions is not a matter of jumping on a trend and trying to impress customers — it is about the value that it brings to processes and outcomes. At the basic level, it must have the ability to automate, enhance decision-making, and ultimately increase productivity and efficiency. 

With this in mind, we implemented an AI innovation challenge for all departments within Flexxon that commenced in Q4 2023 for this exact purpose.

You must practice what you preach 

Prior to rolling this out officially across the company, the management team conducted a sandbox trial of our own. Researching, testing, and rooting out AI tools that served us well.

As a CEO with days packed full of meetings across multiple timezones, I sought tools that not only accurately but also intuitively helped me log the discussions and action points of my meetings. I knew even before I began that this would not be an easy pick, but perhaps not the full magnitude of how many options I would need to test before finding a useful AI-powered meeting assistant. 

Also Read: AI transforming LinkedIn content: Our custom GPT journey

I went through more than five different AI meeting assistants, some much more capable than others. The list includes the usual suspects when Googling “Top AI Meeting assistants”, such as Otter, Fathom, Read, etc. What did I learn? Not all tools are created equal, and other mitigating factors include the level of customisation, ease of integration into other workflows and software, and user-friendliness.

Naturally, this meant that when rolling out the company-wide initiative, I knew that it would be a journey of trial and error — and perseverance.

For SMEs in particular, the main challenges faced when implementing AI solutions in a business include cost assessments, balancing free and paid options, and ease of integration with existing systems. This must then be followed by a period of implementation to analyse and assess the value it brings to the company, employees and customers. 

I believe these are necessary amounts of friction to reap the benefits of truly valuable AI solutions that can augment our existing processes for the better.

Understand that there are no shortcuts, no one-size-fits-all solutions

Getting started is usually the biggest hurdle. Overcoming the inertia of “how we’ve always done it” towards exploring unfamiliar solutions that require a shift in processes. That’s why we decided to introduce our AI challenge at the department level, to ensure each team had the support within their departments while also allowing them to distil their pain points to translate this into a tangible hunt for a solution. 

Nine departments in total are currently a part of the programme, from finance and HR to sales and marketing, IT and R&D. Applying tools that assist with automation, predictive analytics, customer service, content generation, and more. 

Before launching this initiative, many departments and individual employees had already been dabbling in AI tools to better their work processes. However, officialising it provided an added incentive to properly analyse, troubleshoot, and extend any useful practices for fellow colleagues to consider as well.

Noticeably, even before officially trialling these new tools, this initiative has organically led to a push for employees to think outside the box and question how certain processes can be enhanced through AI solutions. Even long-standing ones. 

For instance, our product team has moved from manually creating training videos and certifications on separate platforms to integrating AI-generated videos and certification programmes into one end-to-end platform. Not only does it save them time and effort, but it also enhances the data collection and analysis portion of their work.

Also Read: AI, the era of the 1-person unicorn (and massive job losses)

This is just the beginning of this initiative, and I am personally excited to hear from the team on how each of their projects is panning out over the next two months!

Moving forward with AI 

Looking beyond that foundational level of AI implementation, we should be able to tap into the technology to create personalised experiences, scale business opportunities, and create seamless end-to-end processes that empower teams to perform better and happier.

Of course, in the case of our actual cybersecurity products and solutions, the right usage of AI can revolutionise an entire industry. We tap on AI to strengthen cybersecurity capabilities, and this amazing technology allows us to break new ground in an industry that greatly requires effective innovation. 

Other areas I am currently exploring in business operations include enhanced logistics and fulfilment procedures, human capital management, etc. In fact, I’m still not 100 per cent settled on my choice of AI meeting assistant because I believe there are always options for upgrades out there.

Ideas are turning into AI-powered solutions every day, so an important part of AI implementation for individuals and businesses is to keep an open mind and maintain flexibility in finding the best solutions to address your unique needs.

My simple rule for extracting true impact from AI usage is that AI for content generation is not enough; make it integrated, end-to-end.

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In Malaysia, electric vehicle (EV) charging stations are limited, and the coverage areas are narrow, causing uncertainties for most potential EV buyers. James Goh, a techie and founder of Raytech Window Tinting and Caricarz, and several individuals deeply entrenched in the automotive and tech sectors sensed a massive opportunity in this space and launched ChargeSini.

Founded in 2022, ChargeSini provides smart EV charging stations across Malaysia. It offers a wide selection of fully customisable EV chargers ranging from AC to DC, with charging rates from 22kW up to 180kW. It also provides features like speedy connectivity and smart charging capabilities, all integrated with a cloud platform to provide users with insights and control.

Also Read: Is ‘shadow charging’ the answer to the many challenges faced by existing EV charging stations?

The charging time for an AC charger can vary depending on the vehicle’s battery capacity, but it generally takes 4-8 hours to charge an EV fully using an AC charger. DC chargers can charge an EV up to 80 per cent in 20-30 minutes.

Users can also get charging points installed at home.

A complete EV charging ecosystem

“We have a complete EV charging ecosystem: a fully integrated solution encompassing advanced software and hardware for EV charging. We are the only charging point operator (CPO) with features like OCPP (open charge point protocol) parking locks to prevent charging bays hogging issues and advanced reservation systems (booking the charging bays 30 mins in advance by ChargeSini apps). We also have our in-app wallet to provide a smoother transaction for users to charge their EVs and offer up to 10 per cent extra EV charging credits for ChargeSini e-wallet top-ups,” explained Goh.

Since installing its first charge point in October 2022, ChargeSini claims to have established 420 stations across Malaysia.

The company earns money by charging service fees (levied on EV owners utilising its charging stations), system integration fees, and software surcharges, as well as by selling charging equipment and hardware to clients who wish to install their own charging stations.

In addition, it generates revenues from carbon credits. “We recognise the critical role of CPOs in mitigating carbon emissions and advancing green mobility solutions. To actively reduce our environmental footprint, we have implemented several key initiatives, such as renewable energy integration (such as solar power), energy efficiency measures (dynamic load system to optimise power consumption), sustainable materials and practices (deployment of solar lighting systems in its charging station), and carbon offsetting programmes,” he elaborated.

ChargeSini has formed joint venture (JV) partnerships with hotel networks, shopping malls, and condominiums, such as Lotus, Mydin, Giant Malls, WB Land, HCK Capital Group, Intercontinental Hotel Group, and many different city councils in Malaysia to deploy its solutions.

“The JV model offers zero capital expenditure for our partners, covering the charging machines costs, charger installations, wiring, insurance, software, license and operational costs. Our partners benefit from a hassle-free arrangement where they aren’t required to make significant upfront investments. Instead, they only need to allocate parking bays to us, which we then convert into charging bays quickly and easily,” Goh said.

Also Read: Oyika revolutionises e-motorbikes in SEA with innovative power subscription plans and battery-swap stations

ChargeSini is currently working on new features to provide an enhanced user experience for EV owners utilising its charging stations. They include integrating car onboard systems, e-wallet integration for flexible payment methods and location roaming with other charging point operators in Southeast Asia.

Foraying into international markets

Recently, it forayed into international markets with a pilot station deployment in Medan, Indonesia. Building on this pilot project, it aims to leverage its partner network and market insights to scale its presence across Indonesia and other Southeast Asian nations.

“In countries like Malaysia, Indonesia, and Thailand, the demand for sustainable transportation is escalating, and ChargeSini is strategically positioned to cater to this increasing need,” Goh added.

ChargeSini has so far raised RM5.58 million (US$117,000) from 74 investors via the equity crowdfunding (ECF) platform pitchIN and is currently raising a Series A round.

“We seek VC or PE investors to support our growth and expansion plans. The money will be used to expand into strategic areas, scale the business, and develop DC charging infrastructure,” Goh said.

The emergence of ChargeSini in Malaysia’s EV market signifies a pivotal shift towards sustainable transportation solutions. With a comprehensive ecosystem encompassing cutting-edge technology, smart features, and strategic partnerships, ChargeSini addresses the pressing need for reliable and accessible EV charging infrastructure.

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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.

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The Philippines is experiencing a surge in demand for skilled software developers, prompting companies to devise innovative strategies to attract top talent in this competitive landscape.

Data released by the Philippine Statistics Authority in September reveals that software engineers are among the highest-paid professionals in the country, second only to pilots.

This high demand is further corroborated by market research firm IDC, which reported that companies in the region are struggling to find tech talent, with over half of the respondents citing a shortage of software developers and similar roles.

Strategies and emerging trends

In response to this talent gap, some companies are exploring the potential of artificial intelligence (AI) to replace or augment certain tasks traditionally performed by human software engineers — but even so, demand for exceptional tech talent remains strong.

For back-end development, companies typically seek candidates proficient in popular programming languages such as Java, PHP, and C#. Front-end development, on the other hand, requires expertise in standard technologies like HTML, CSS, JavaScript, ReactJS, and similar tools.

An emerging trend is the growing demand for full-stack engineers who can handle both front-end and back-end aspects of web application development.

One tech stack we’ve seen gaining traction is Kotlin for back-end applications in conjunction with the Ktor framework. While Kotlin may not yet be widely adopted among Filipino programmers, its rapid growth suggests that it can be readily learned on the job, especially in companies that offer training programmes.

Also Read: AI, the era of the 1-person unicorn (and massive job losses)

Cebu is emerging as a thriving tech hub in the Philippines, fueled by the surging demand for skilled software developers, with the city presenting an ideal location for overseas startups and technology companies seeking to expand into the country.

For recent graduates embarking on their careers, Cebu offers a compelling choice, providing a more affordable lifestyle, reduced traffic congestion, and a more relaxed pace compared to the hectic dynamism of Manila.

Additionally, despite these lifestyle advantages, Cebu doesn’t compromise on diverse job opportunities in the tech sector.

Having witnessed the city’s transformation from a centre of business process outsourcing (BPO) and call centres to a hub for in-house software development roles, it has been gratifying to observe the evolution of Cebu’s tech landscape.

The role of education and future outlook

The Philippines’ education sector is also keeping pace with the industry’s requirements by introducing programming exposure for young minds still in school. Many educational institutions are now offering updated modules equipped with the latest skills.

During my visits to Philippines universities last year, I was impressed to see that a majority of graduating students were already engaged in job training at relevant companies.

In my own experience, leading a team of nearly 50 software engineers for our Japanese parent company, we are approaching a point where we can start accepting student training placements. I eagerly anticipate this opportunity to contribute to the development of the next generation of Filipino tech talent.

The Philippines’ tech industry is experiencing rapid growth, fueled by a surge in demand for skilled software developers.

While technical proficiency is essential, developers must also possess strong communication and presentation skills, particularly when working for international companies where English fluency is a requirement.

To attract top talent, both domestic and international firms are adopting strategies to establish themselves as employers of choice.

Incentives include modern office environments with robust infrastructure, recreational facilities, modern tech stacks, comprehensive healthcare coverage, and a rewarding workplace culture.

For anime and manga enthusiasts, joining a Japanese tech company may hold additional appeal due to cultural factors. This unique selling point can help these firms differentiate themselves from competitors and attract talent seeking a culturally enriching work environment.

Also Read: SaaS revolutionises finance: From streamlining to AI integration

While AI is often perceived as a threat to human programmers, it is more accurate to view it as a productivity enhancer rather than a replacement.

Generative AI models, such as GPT-4 by OpenAI and similar offerings such as Google Bard, are revolutionising the coding process by automating tasks like code generation, completion, testing, and optimisation.

A McKinsey study revealed that software developers utilising generative AI tools could boost their productivity by up to 60 per cent, with the exact gain varying depending on code complexity.

Despite AI’s advancements, the expertise and creativity of human teams remain paramount. As AI capabilities evolve, policymakers rightly consider its long-term impact on employment.

However, in the short to medium term, the primary outcome will be enhanced productivity and the formation of more effective IT teams than ever before.

The continuous hiring sprees by tech leaders indicate that fears of robots replacing human programmers are unfounded for now. I believe the Philippines is poised to become a thriving tech hub where AI complements and empowers human talent.

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

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Dear reader,

SoftBank’s rollercoaster ride seems to have found a thrilling upswing, thanks largely to its chip design subsidiary, Arm. After suffering a substantial setback with a US$6.2 billion loss tied to WeWork and other ventures, SoftBank’s fortunes have dramatically improved. Arm’s recent blockbuster performance, exceeding revenue and earnings expectations, has injected optimism into SoftBank’s investment portfolio.

Arm’s success is propelled by the booming demand for AI technology. With major players like Microsoft and Amazon deploying custom-designed Arm chips, the company stands at the forefront of the AI revolution. As the market for tailored AI chips expands, Arm anticipates a surge in direct sales, translating into higher royalty revenues.

This success story couldn’t come at a better time for SoftBank, especially amidst challenging US-China relations impacting its investments in crucial Asian markets. Buoyed by Arm’s stellar performance, SoftBank’s Vision Fund has notched its first quarterly profit in four consecutive losses, marking a significant turnaround.

Looking ahead, SoftBank faces a pivotal decision on whether to capitalise on its Arm shares or maintain its position. The outcome will likely hinge on the continued momentum of the AI market. As technology continues to evolve, SoftBank’s strategic moves will be closely watched in the ever-changing landscape of investment and innovation.

Sainul,
Editor.

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NEWS

Arm’s gains are SoftBank’s gains
Buoyed by Arm, SoftBank’s Vision Fund posted its first quarterly profit after four straight losses and its biggest gain in nearly three years: US$4B. US shares in SoftBank were up 17% following the company’s earnings report, largely on news of Arm’s cheery quarter.

Startup funding in SEA sees a 44% monthly drop in January: Tracxn
Of the 31 deals, 17 were seed-stage deals and 13 early-stage ones; Silicon Box topped the funding chart with a US$200M investment, followed by Motorist (US$60M), Sygnum (US$40M), and Be Group (US$31.2M).

Singapore AI fintech funding grows in H2 2023 despite global decline
Funding for the subsector in the city-state reached over US$333M in H2 2023, a jump of 77% from US$148M in H1 of the same year; There were a total of 24 investment deals for Singapore AI fintech firms throughout the whole year.

Tether, Solana co-founder back Oobit’s US$25M Series A round
Oobit provides a gateway to spending cryptocurrencies in traditional commerce settings; It plans will use the funds to expand into Latin America, the UAE, the Asia-Pacific, Canada, and Australia.

Incomlend acquires LC Lite to reach crypto, fiat investors
The merger will empower Incomlend to operate through a new fintech platform, reaching crypto and fiat investors through trade finance as it looks to accelerate its expansion in the Middle East.

Sea Group’s MariBank crosses US$149M AUM for investment account
MariBank, which launched its services in March last year on an invite-only basis, is Singapore’s third digital-native bank. It offers personal savings accounts, business accounts, and business loan products.

Alibaba reports slower growth in core businesses amid rising competition
Alibaba missed Q3 revenue expectations, as the tech giant’s e-commerce and cloud-computing businesses remained sluggish due to increased competition from Pinduoduo and weak consumer sentiment at home.

Thailand removes crypto trading tax in bid to be digital asset hub
Previously, crypto and digital token trading activities were subject to a 7% VAT; The latest development also adds to an existing policy exempting VAT for crypto transfers to a third party, which came into effect last May.

MediConCen bags US$6.85M to take its AI-powered insurtech platform to SEA
Investors are HSBC Asset Management, G&M Capital, ParticleX, and Wings Capital; MediConCen utilises Hyperledger blockchain technology to provide clients with an automatic experience in insurance claims.

Singapore-based Web3 startup Startale Labs nets US$3.5M funding
Investors include UVM Signum Blockchain Fund, Sony Network, and Samsung Next Ventures; Startale Labs specialises in Web3 infrastructure development; It creates core infra and applications for Web3 that is integrated onto the Astar Network blockchain.

Cento Ventures invests in digital procurement platform Doxa
The company plans to utilise the funds to expand into Malaysia; Primarily targeting the construction industry, Doxa’s procure-to-pay platform, Doxa Connex, provides a clear trail of the transactions that occurred.

East Ventures co-launches emissions calculator for Indonesian companies
Ecovisea gauges emissions in three domains: emissions from company-owned sources, those from purchased energy, and indirect emissions from other parts of a company’s value chain; It uses emission factor information from Climatiq, a carbon calculation platform.

Indian central bank defends ‘proportionate’ action on Paytm
The Reserve Bank of India widened its curbs on Paytm’s Payments Bank, barring it from offering many banking services, including accepting fresh deposits and credit transactions across its services.

CONTRIBUTORY POSTS

SaaS revolutionises finance: From streamlining to AI integration
SaaS solutions are only being constantly upgraded to enhance productivity and efficiency in delivering financial services.

Cross-border payments: Can incumbent banks compete with fintechs in Asia?
Those who embrace next-gen technologies and allow evolution in the way they operate will be able to win the cross-border payments battle against fintechs.

Learning from history: Safeguarding crypto in 2024 and beyond
In 2024, it’s vital to glean lessons from 2023 exploits and underscore preventive measures to avert future occurrences.

Operators turned investors: Navigating the shift to startup investing
As we navigate the complexities of the modern business landscape, let us spotlight the role of operators in investment decisions.

Unlocking Southeast Asia’s financial potential with AI-powered fintech
Besides core financial services, SEA has experienced the rise of novel finance apps and new methods of generating online income.

How to become a Thought Leader with the e27 Contributor Programme
This is your one-stop guide to learn more about being a thought leader –and nurture that writer hidden in you.

FEATURES

Why is The Parentinc aggressively venturing into offline spaces?
The Parentinc doesn’t rule out an IPO within the next three years, but at this point, it brings the retail tech footprint into other markets in SEA.

How Twitter’s descent into chaos is paving the way for a new web
The changes at X have been swift and troublesome, leading to a flurry of activity in the social sphere as X alternatives emerged; But now there’s too much of a good thing.

How Alterno’s vision is changing the energy landscape with sand batteries
Alterno’s innovative sand battery technology is shaping the green energy sector, contributing to a more sustainable future.

AC Ventures: Indonesian startups seem “well-positioned” for this shift
According to Adrian Li of AC Ventures, In response to the growing emphasis on ESG considerations among investors, Indonesian startups are gearing up for a more mature and resilient ecosystem.

Auptimate facilitates US$40M raised across 70 syndicates, SPVs
Auptimate is an online platform that aims to help angel syndicates, founders, and fund managers set up and operate SPVs and Syndicates.

ARCHIVES

Beyond Singapore and Indonesia, SEA startups are working their way out of global crises
Singapore and Indonesia continue to top startup funding list despite ongoing slowdown. What does this mean for the rest?

Be open about ways to grow and expand your skills: Cheryl Liew of MHV
Focus on your core skill sets and where you can add value to an organisation, says the Head of Talent at Monk’s Hill Ventures.

Navigating the capital winter: Strategies for successful fundraising in a slow market
As the capital winter could be prolonged, it is time for the founder to know how to survive and sustain longer and wisely.

Rethinking venture capital: 5 ways it goes beyond investing
Venture capital is a dynamic and constantly evolving industry that requires a deep understanding of both the market and the companies being invested in.

Decoding the definition of a startup from an investor’s point of view
Only a company that will be able to exit (realise profits by selling stocks as an investment) through increasing its corporate value due to rapid growth is a startup.

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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.

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