Have you ever thought about a smart assistant dedicated to keeping your workplace safe and compliant? Imagine AI stepping in as your high-tech safety officer, analysing real-time data and spotting potential issues before they become non-compliant. It’s not science fiction — it’s happening now.

But the questions arise: Is AI genuinely changing how we manage safety and compliance, or is it just a shiny new gadget?

However, with advanced algorithms, real-time monitoring, and predictive analytics, AI is transforming regulatory requirements by changing the way safety protocols are handled in workplaces. Thus, AI cannot be stated merely as a shiny new gadget; rather, it’s a powerful tool that actively improves risk management, streamlines compliance processes, and creates safer work environments. The integration of AI into existing EHS monitoring systems is proving to be a game-changer, making a tangible impact on how safety and compliance are managed today.

A safety showdown

In the industrial landscape of contemporary times, the idea of operating safely without AI seems increasingly unrealistic. Modern environments are too complex and fast which demands a level of vigilance and precision that traditional methods struggle to provide.

AI technologies, with their advanced data analysis and real-time monitoring capabilities, offer an unprecedented edge in tracking compliances allowing EHS teams to respond swiftly to emerging issues, reducing the likelihood of accidents, and improving overall workplace safety.

Gary Ng, CEO of viAct, an AI company from Hong Kong aptly says “As industries evolve and the stakes rise, AI’s role in safeguarding operations especially in critical risk-prone workplaces becomes not just beneficial but essential, highlighting a critical shift from conventional safety practices to a more dynamic, AI-driven approach.” He further adds it by stating “92 per cent faster Risk Assessments & Safety Audits was observed in automotive manufacturing units that otherwise had a lot of non-compliance due to Simultaneous Operations (SIMOPs)”.

Also Read: How to use Gen AI enabled chatbots for workplace safety?

Traditional manual checks to manage safety by EHS teams through periodic inspections may cause “a safety shutdown” as these methods struggle to keep up with the rapid pace and complexity of modern operation lines. IoT sensors and cameras throughout modern facilities allow AI to continuously monitor equipment and worker behaviour in real time.

This approach is termed a proactive approach which prevents accidents by enhancing compliance with safety standards. It underscores how AI has become essential in high-stakes industrial environments like manufacturing, construction, oil & gas, mining, and logistics as it serves as not just a luxury but a vital component for maintaining a safe and efficient operation.

New face of industry-specific safety

In today’s industrial ecosystem, another revolution in the field of AI for workplace safety is brought by Generative AI. Think of a workplace where AI doesn’t just observe safety compliances through video analytics but actively participates in it by answering— that’s where generative AI is stepping in, transforming the way safety and compliance are managed.

This can be explained by the safety chatbot of viAct named “viGent” which is so powerful that has changed how the EHS team works. Instead of relying on manual checks or waiting for reports, viGent provides real-time assistance helping EHS teams in mapping issues for 85 per cent quicker safety resolutions, ensuring 90 per cent amendments in best safety practices, and contributing to 70 per cent long-term safety improvement. Thus, Generative AI is an upgrade that’s reshaping the entire approach to workplace safety, turning reactive measures into proactive, intelligent systems.

What makes generative AI solutions like viGent even more impressive is how they tap into a vast data pool, providing insights and predictions not just by reacting to incidents but by helping prevent them from happening by identifying patterns and risks early on.The chatbot seamlessly integrates data from multiple sources, such as video analytics and IoT sensors for compliance monitoring and assistance.

For EHS teams, this means a complete shift towards a focused strategy in compliance tracking. Beyond simple alerts, generative AI helps to foster a culture of safety. By integrating directly into the daily routines of workers and aligning with real-time operations, these generative AI applications anticipate, communicate, and drive compliance with a level of intelligence that traditional CCTV-based monitoring cannot guarantee.

Also Read: Why AI will be critical to brand strategy

Finding the sweet spot

As AI continues to revolutionise workplace safety, the balance between innovation and regulation becomes crucial. AI-powered tools like safety chatbots, integrate cutting-edge video analytics and IoT data which comes with regulatory responsibilities.

AI’s ability to monitor and guide workers in real time must align with existing safety standards and laws. Ensuring that AI solutions comply with local and international safety regulations is key to their widespread adoption.

viAct’s Responsible AI Approach is a very good example in this context which finds “the sweet spot” amid the regulatory bedlam. The approach helps viAct by ensuring that their AI technologies are not simply meant to enhance workplace safety but also uphold ethical and legal standards by incorporating transparent data handling practices and designing AI systems that align with regulatory frameworks at its core.

Such approaches enable industries to confidently adopt AI-driven solutions, knowing that the technology supports both operational efficiency and compliance with stringent safety regulations.

Thus, the intersection of AI innovation and safety regulation, driven by responsible AI practices, is the future of workplace safety—one that embraces progress while ensuring worker protection and regulatory alignment.

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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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e27 has been nurturing a supportive ecosystem for entrepreneurs since its inception. Our Contributor Programme offers a platform for sharing unique insights.

As part of our ‘Contributor Spotlight’ series, we shine a spotlight on an outstanding contributor and dive into the vastness of their knowledge and expertise.

This episode features Kailash Madan, Global Head of Sales at Primer, with over 10 years in payments and financial services, including roles at Stripe and Citi. Kailash leads Primer’s team in APAC, helping enterprises automate and optimise e-commerce workflows with unified global payments infrastructure.

Thoughts, goals, and journey

Madan shared that around a decade ago, he entered traditional payments while working at Citi as a Management Associate. His role in commercial and consumer banking introduced him to cross-border commerce and the broader impact of payments on the global economy. He then moved into digital payments, helping grow the internet’s GDP at Stripe before joining Primer to help merchants and partners rethink payment management.

Madan remarked, “Having been at the forefront of what you’d today call traditional payments, including export and import finance, and now igniting growth for global businesses through digital payments, I’ve learned that providing businesses with the right infrastructure to offer a best-in-class customer experience is key. I intend to continue doing so while driving greater advocacy for payments within large organisations.”

He added, “There’s a monumental shift taking place in the payments industry towards greater optionality, flexibility, and freedom in how businesses build and manage payments. Until recently, many leaders were comfortable with one Payment Service Provider (PSP) driving their business, but it’s becoming clear that this model can’t meet the needs of modern businesses operating across multiple markets. Earlier this year, Stripe made a major move by decoupling payments from the rest of its financial services, moving towards a more open and inclusive system where businesses can design their payments strategy around their needs, not the other way around. Primer has been driving this shift for some time, and our model is the catalyst for it, making it an exciting time to be working here.”

Also Read: Camellia Chan: Transforming cybersecurity with hardware-based solutions and and building a global brand

The driving force

Madan joined the e27 Contributor Programme in 2022 and has since been an active member, regularly sharing his insights on the payments industry.

Madan said, “e27 is one of the most impactful platforms for entrepreneurs, innovators, and businesses in Southeast Asia’s tech scene, offering a wealth of thought leadership content and knowledge exchange between leaders and experts. Through this platform, I’ve been exposed to new industries and ideas, and I hope to add as much value as I’ve gained from the Contributor Programme. The payments industry continues to be somewhat of a ‘black box’ for those outside the sector, which Primer is working to change. By contributing thought leadership, I aim to show how we’re simplifying payments and how any business can use digital payments as a growth lever.”

Advice for budding thought leaders

Juggling too many things?

Madan said, “I’m fully committed to the remote work model at Primer. While it’s not for everyone, it gives me the flexibility to pursue personal goals and routines that matter to me, while also succeeding at work. For me and my team, it’s not about presenteeism, but the quality of our output, and once you focus on that, achieving work-life balance becomes a bit easier.”

He added, “Working at a fast-growing startup isn’t for everyone, but for those willing to put in the hard yards, it’s an opportunity to advance quickly. With my global role based in Singapore, managing time zones can be tough, so I make sure to block certain times to recharge.”

Also Read: Jackie Tan: Navigating the startup journey and paying it forward

Staying in the loop

Madan says he learns the most from daily conversations with business leaders and his team, who are attuned to global market shifts. Primer’s remote model, with teams in over 35 countries, enables seamless collaboration, allowing him to connect with leaders worldwide for insights and on-ground perspectives. He also highlights that staying updated through news outlets and platforms like LinkedIn remains essential.

Madan recommends subscribing to newsletters like TechCrunch, Tech In Asia, Benedict Evans, The Ken, e27, and Sifted to stay updated on industry trends. He also follows LinkedIn authors like Linas Beliunas and Dwayne Jefferie, whose posts offer valuable insights into current discussions in the space.

“Although digital payments seem complicated and mature, we’re only at 10 per cent of global commerce today. The runway to grow is massive and with it are the opportunities to innovate, evolve and re-invent existing processes. Learning every day is something I live with and I’d encourage everyone to consider,” he concluded.

Take a look at his articles here for more information and perspectives on his expertise.

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Are you ready to join a vibrant community of entrepreneurs and industry experts? Do you have insights, experiences, and knowledge to share?

Join the e27 Contributor Programme and become a valuable voice in our ecosystem.

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Dear reader,

Temasek’s recent commitment of SGD100 million (US$78 million) in concessional capital through its Climate Action (CCCA) initiative marks a significant step in addressing climate change financing gaps, particularly in developing economies.

By providing patient, flexible capital, the CCCA aims to unlock opportunities in marginally bankable projects, such as clean infrastructure, that would otherwise struggle to secure funding. This approach aligns with the global push to meet the 1.5-degree climate goal and reflects Temasek’s broader strategy of integrating sustainability with its philanthropic efforts.

As the world grapples with the urgency of climate action, particularly in Asia where structural barriers hinder progress, Temasek’s approach of using blended finance to mobilise commercial, concessional, and philanthropic capital offers a pathway for impactful change.

The initiative is designed not only to promote environmental sustainability but also to catalyse further investments by demonstrating the viability of green projects in challenging markets.

This move reflects Temasek’s commitment to sustainability, complementing its existing portfolio of climate and sustainability-focused investments.

By advancing concessional capital as an asset class, Temasek is positioning itself as a leader in the global effort to combat climate change while driving intergenerational impact for a sustainable future.

Sainul,
Editor.

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NEWS & VIEWS

Temasek sets aside US$78M Concessional Capital for Climate Action (CCCA)
CCCA seeks to support climate action initiatives by providing more flexible, patient, and favourable financing, which will address these market barriers.

MAS directs Singapore e-commerce platform Qoo10 to suspend payment services
The market regulator will review the suspension when Qoo10 is able to satisfy MAS of its ability to resolve the payment delays and safeguard the interest of its customers in Singapore on an ongoing basis.

Peak XV has reaped US$1.2B in the year since it split from Sequoia
The investor has sold stakes in nearly a dozen portfolio companies that went public in the past year, including food delivery group Zomato, cosmetics retailer Mamaearth, and spam protection firm Truecaller.

OpenAI CTO Mira Murati says she’s leaving the company
“There’s never an ideal time to step away from a place one cherishes, yet this moment feels right … My six-and-a-half years with the OpenAI team have been an extraordinary privilege,” she said.

Cybersecurity startup Blackpanda raises US$6.7M for Asia expansion
The investors are Singtel Innov8, Gaw Capital Partners, and WI Harper Group; Blackpanda’s IR-1 solution integrates proactive attack surface management, incident response services, and automated access to insurance.

Qarbotech secures US$1.5M funding to boost farm yields by 60%
The investors are 500 Global, Better Bite Ventures, ID Capital, EQT Foundation, and Epic Angels; The capital will enable Qarbotech to scale its operations in Malaysia, Indonesia, Thailand, and Vietnam.

South Asia, SEA rank high in potential for fintech lending in Asia: Study shows
South Asia stands out with 43 incubators for alternative lending firms and 118 funding rounds in the industry, making it the leading region in fintech investments and startup activity.

Gobi Partners joins Pakistani BNPL startup Qist Bazaar’s US$3.2M round
Since its inception in 2021, Qist Bazaar claims to have disbursed over 55,000 product-based loans amounting to US$12 million; Qist Bazaar’s customers include domestic workers, rickshaw drivers, students, and micro-entrepreneurs.

Echelon Singapore 2025 gears up for its first time at Suntec
The move represents a major leap forward for Echelon Singapore, providing a larger, more dynamic space for exhibitions and sessions.

WeRide partners Uber to launch robotaxis in UAE
The partnership is expected to launch first in Abu Dhabi later this year; After launch, when a rider requests a qualifying ride on the Uber app, they may be presented with the option to have their trip fulfilled by a WeRide autonomous vehicle.

FEATURES & INTERVIEWS

YGG’s Future of Work: Empowering gamers for the AI age
YGG launches Future of Work, a programme aiming to equip participants with in-demand skills for the future workforce.

Revolutionising urban safety: AI-driven WaveScan in non-destructive testing of infrastructure
A spin-off from A*STAR, WaveScan harnesses electromagnetics-based sensor technology and AI to offer NDT solutions for urban infrastructure.

Operva AI elevates facade inspections with autonomous drone, collaborative cloud platform
Operva AI streamlines the process of building inspection by using AI to detect and label defects and observations.

AI will spur growth in data centres, potentially leading to semiconductor shortage: Bain & Co
The rise of generative AI has also pressured software developers to improve efficiency in their operations.

FROM THE ARCHIVES

The rise of M&A in Vietnam: Strategies and trends in the tech sector
Vietnam’s M&A market is seeing new buyers emerge, including regional firms, big tech, and domestic corporations.

How is fintech different in Asia
The faster fintech develops in Asia, richer the local digital landscape becomes leading further spread of digital financial services.

Unlocking green fintech prosperity in Asia: Navigating the top 4 challenges
Despite the ongoing ‘funding winter’ faced by global startups, the trajectory of development for green fintech has shown strong momentum.

Pitching prep: Anticipating key questions VCs pose in pitch sessions
Even during the pandemic, opportunities to attend a pitching session with a potential investor remain abundant.

Some lessons on how to fulfil the climate tech promise
When it comes to promoting climate tech investment, there is a need for investors to play the long-term game.

Propelling SG businesses towards sustainable future: How to inspire emissions plan creation
There are several steps to encourage businesses to develop emission plan, starting with involving CFOs and finance teams.

Unlocking green fintech prosperity in Asia: Navigating the top 4 challenges
Despite the ongoing ‘funding winter’ faced by global startups, the trajectory of development for green fintech has shown strong momentum.

The climate change and gender equality connection: How to support underfunded women-owned business
While there is a distinct relationship between gender inequality and climate change, investment mandates rarely combine both of these lenses.

Pitching prep: Anticipating key questions VCs pose in pitch sessions
Even during the pandemic, opportunities to attend a pitching session with a potential investor remain abundant.

The rise of M&A in Vietnam: Strategies and trends in the tech sector
Vietnam’s M&A market is seeing new buyers emerge, including regional firms, big tech, and domestic corporations.

Seizing the e-commerce wave: Unveiling opportunities in Southeast Asia
The time is ripe for local e-commerce sellers in SEA to look beyond their borders, supercharged by recent cultural and technological changes.

Unveiling the eco gender gap: Essential insights for a sustainable future
Eco gender gap is when solutions to tackle climate change seem to be geared only toward women. How should businesses deal with this?

Seizing the e-commerce wave: Unveiling opportunities in Southeast Asia
The time is ripe for local e-commerce sellers in SEA to look beyond their borders, supercharged by recent cultural and technological changes.

THOUGHT LEADERSHIP

Navigating shareholders’ disputes in startups: Different exit strategies and mechanisms explained
Disputes are usually managed effectively when the parties involved have agreed at the outset with the right legal mechanisms in place.

How to maximise marketing efforts on a shoe-string budget
A robust growth strategy prioritises revenue and relies on data-driven decisions over guesswork to evaluate marketing efforts.

Workplace safety getting a tech makeover with AI
AI-powered tools, like safety chatbots, integrate cutting-edge video analytics and IoT data, which comes with regulatory responsibilities.

The secret sauce to happy customers
Tracking Customer Satisfaction (CSAT) is your golden ticket to understanding what’s working, what’s not, and where you can sprinkle a little more magic.

8 ways to utilise customer data to retain loyalty during economic challenges
Leveraging shopper data helps businesses refine loyalty strategies, build stronger connections, and anticipate future behaviours.

How El Salvador’s bitcoin experiment serves as a blueprint for Southeast Asia’s fintech ecosystem
Southeast Asia’s startups can use El Salvador’s lessons to bring unbanked individuals and businesses into the global digital economy.

The digital classroom: How edutech is sculpting the minds of tomorrow
As education systems embrace technology, edutech holds immense potential to transform learning for future generations.

Challenging traditional rental markets with innovative tech: The story behind Livingo
With co-living on the rise, Livingo is well-positioned to lead this shift toward a more flexibleent and community-cred way of life.

‘Step Zero Before the Hustle’: The psychology of entrepreneurial success
The book explores the psychology of entrepreneurial success, offering insights to build confidence, resilience, and essential startup skills.

The post Ecosystem Roundup: Temasek sets aside US$78M for climate fund | Qoo10 ordered to suspend payment services in Singapore appeared first on e27.

The International Labour Organisation (ILO) estimates that workplace safety risks result in economic losses of up to 5.4 per cent of global GDP annually. In response, businesses have implemented over one billion CCTV cameras and employed hundreds of thousands of security personnel and risk managers to monitor footage and mitigate risks.

However, this process is slow, labour-intensive, costly, and prone to inaccuracies.

“Video is the richest data source, but existing solutions are too rigid, fragmented, impossible to customise, and challenging to scale. This makes it difficult for business owners to maximise the video data and manpower they have on hand to make effective decisions. We see a much better way,” says Natalie Doran, CEO and Co-Founder of Lytehouse, in an email interview with e27.

Lytehouse offers real-time video intelligence that automates risk management by transforming any CCTV camera feed into virtual co-workers, enhancing efficiency and reducing costs. Its AI-powered solution applies advanced computer vision (CV) models, machine learning (ML) algorithms, and generative AI (GenAI) agents to existing cameras, enabling businesses to capture key data points, gain real-time insights, and automate manual tasks for improved decision-making.

Using Large Language Models (LLM), Lytehouse makes video insights easily queryable in natural language. Business owners can request specific actions, such as notifying managers if workers use mobile phones near machinery, to detect risk events and generate reports.

The scalable system tailors GenAI agents to specific industries and tasks, allowing companies to address safety and security risks without replacing their existing camera infrastructure.

Also Read: Gen AI in banking: How to ensure a successful transformation for an age-old industry

“Our approach of effectively giving business owners a fleet of digital workers that can be deployed directly onto their cameras is the biggest difference compared to the alternatives, as it provides enormous flexibility in what these agents should be looking for within various video streams without locking our customers into configuration hell,” Doran says.

The launch of Lytehouse’s security agent marked a significant milestone for the company. Additionally, Lytehouse secured a major partnership with one of Africa’s largest CCTV distributors, providing access to hundreds of thousands of cameras across the region.

Lytehouse’s journey began as a personal mission for security, driven by real-life experiences. Jean-Vicente De Carvalho, CTO and Co-Founder of Lytehouse, comes from a family of small business owners in South Africa who endured 37 instances of armed robberies, kidnappings, and bombings.

In 2018, after his father was held at gunpoint despite the presence of extensive security measures, De Carvalho realised the urgent need for a more effective solution.

“I met Jean in the Entrepreneur First programme in Singapore, and we did a deep dive into security and risk management. We realised there was a huge opportunity to give existing manpower the superpowers to respond effectively to risk, and beyond this, we could empower businesses with the right data to be more proactive and preventative. And so, Lytehouse was born,” Doran explains.

Also Read: Singapore surpasses US in AI investment: Study

“We have evolved a lot since then, and so have the technology capabilities to address these global pain points. We’re proud to say we have assembled a rockstar team driven by the passion to make a tangible difference and have the backing of incredible investors, government departments, and tech giants.”

Lytehouse is part of the inaugural cohort of AI startups graduating from the Google for Startups Accelerator: AI First Singapore, which ran from April to August 2024.

According to Doran, collaborating with Google Cloud has been a transformative experience for the company. The announcement of Gemini 1.5 Pro and Flash models at Google I/O, with their extended context windows and multimodal support, marked a pivotal moment for the company.

By working closely with Google Cloud on the Vertex AI platform, Lytehouse accelerated the development of new product lines. Beyond technical support, Google Cloud offered significant business opportunities, such as featuring Lytehouse on the Google Cloud Marketplace and connecting them with customers across Southeast Asia.

“We’re crafting a future where technology expands human potential, replacing tasks, not jobs, for more meaningful work experiences. To achieve this, we are building the world’s most performant, cost-effective, secure, and extensible intelligence engine to annotate the world’s video data and make it useful,” Doran closes.

“We believe that by the end of 2025, thanks to our powerful intelligence engine, there will be a use case for Lytehouse for every camera in the world – and by leveraging our strategic partners, we will have the reach to attain a large proportion of them.”

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Image Credit: Lytehouse

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In times of economic uncertainty, retaining customer loyalty is critical for startups. As inflation rises and interest rates fluctuate, maintaining a solid client base can provide stability when other aspects of the business may be volatile. Leveraging consumer insight is crucial to enhance patronage and drive long-term success. 

Explore eight ways startup companies can utilise customer data to strengthen their loyalty programs during challenging economic periods.

Segment customers for targeted engagement

Customer segmentation is a powerful tool for building loyalty, particularly during tough economic times. Startups can use existing consumer data to categorise their audience into specific groups based on behaviour, purchase history and demographics. This strategy allows businesses to send personalised messages that resonate with each segment.

For instance, a startup in Indonesia offering digital services can analyse purchasing behaviour and target high-frequency users with exclusive discounts or rewards. On the other hand, shoppers who engage less frequently may benefit from loyalty incentives that encourage more consistent interaction. Tailored messaging can work wonders and make patrons feel valued, driving continued patronage despite tight budgets.

Monitor shifts in customer spending patterns

Economic challenges often result in changes in consumer spending habits. Startup businesses can stay ahead by monitoring purchasing behaviour shifts and making informed company decisions through data analytics. They can adjust their loyalty strategies by understanding how these trends impact spending. 

Ensuring data entry accuracy is crucial during this process, as errors in data entry can lead to incorrect customer insights and misguided strategies. Investing in tools and an adequate number of qualified personnel to maintain accurate data can prevent costly mistakes.

For example, during periods of inflation, buyers may be more price-sensitive and reduce spending on non-essential items. A Philippine e-commerce startup selling luxury goods could use this data to adjust its loyalty program, offering more budget-friendly options and exclusive offers to retain price-conscious clients. 

Leveraging purchasing data can help brands ensure their efforts remain relevant and attractive to their target audience, even when customer priorities shift.

Use predictive analytics to anticipate customer needs

Predictive analytics can be a game-changer for startup companies looking to strengthen consumer loyalty. Using customer data, predictive models can anticipate future behaviour, helping businesses stay one step ahead of their shoppers’ needs.

A Malaysian fintech startup, for instance, could use historical data to predict which buyers are likely to scale back on certain services due to rising interest rates. With this insight, the company can offer personalised retention campaigns — such as discounts or enhanced features — to keep clients engaged and loyal.

Also Read: Why fintech companies should learn about customer retention from e-commerce companies

A proactive approach can reduce churn and increase customer satisfaction, especially during economic uncertainty when patronage may waver.

Enhance personalisation for stronger emotional connections

Personal connections often play a significant role in business relationships. Startups can leverage shopper data to create more personalised and meaningful interactions, fostering stronger emotional ties with buyers.

For example, a Thai beauty shop could use purchase history and preferences to offer personalised product recommendations, early access to new collections or even customised loyalty rewards based on past behaviour. Personalisation shows clients that the brand understands their individual needs, which enhances emotional connection and patronage.

Strong connections can be the difference between retaining or losing a customer in challenging economic times. When consumers feel a genuine relationship with a business, they are more likely to stay loyal, even when their spending ability is affected.

Leverage social listening and customer feedback

Understanding what shoppers say about your products or services on social media and through direct feedback can offer valuable insights that improve your loyalty campaign. Startup companies can determine and track buyer sentiment by monitoring social media platforms, online reviews and customer support interactions.

A Vietnamese tech startup, for example, might notice through social listening that many of its users are dissatisfied with its current reward offerings. This feedback can be used to adjust rewards and introduce new features that align with consumers’ expectations to ensure they feel heard and appreciated.

Additionally, integrating shopper feedback loops into loyalty programs — through mechanisms like surveys or rewards for reviews — can give patrons a greater sense of involvement, ultimately fostering stronger loyalty.

Optimise rewards to match current consumer priorities

Economic conditions can significantly impact what clients value in reward systems. By analysing data on customer preferences, brands can refine their loyalty strategies to better meet buyer needs during tough economic times.

A Singaporean retail startup, for instance, may find that consumers prefer practical rewards, such as discounts or cashback, over luxury perks. Based on this insight, the business can shift its loyalty efforts to emphasise cost-saving rewards that appeal to financially-conscious patrons.

Also Read: Why a customer-centric digital marketing strategy is the way to go?

Optimising rewards based on real-time data ensures that your loyalty program remains relevant and appealing, even as client priorities evolve in response to economic challenges.

Track customer lifetime value (CLV) to prioritise high-value customers

Customer lifetime value (CLV) is a metric companies can use to identify their most valuable clients. During economic downturns, retaining high-value shoppers becomes even more important as these individuals will likely provide the most revenue over time.

Businesses can use CLV data to prioritise these patrons in their loyalty campaigns by offering exclusive rewards, personalised offers or priority access to new products. For example, a Vietnamese food delivery startup may identify its top consumers and offer them exclusive promotions or early access to limited-time menu items, strengthening their connection to the brand.

By focusing on high-value clients, businesses can ensure that their loyalty strategies deliver maximum returns during times of economic uncertainty.

Adjust marketing channels based on customer data insights

Shopper data can also inform which marketing channels are most effective for communicating loyalty programs. Some organisations may find that certain platforms, like Facebook or WhatsApp, drive higher engagement than others. This insight can be critical since social media platforms are integral to everyday communication.

For instance, a startup in Indonesia may discover that its buyers engage more on Instagram than email. The business can then improve participation rates and deepen client relationships by shifting its communication efforts to Instagram.

Optimising your marketing channels based on data ensures that your loyalty efforts reach the right customers at the right time on their preferred platforms.

Strengthen loyalty through data-driven insights

Retaining loyal clients is essential for startup resilience in economic uncertainty. By leveraging shopper data, businesses can fine-tune their loyalty strategies to meet evolving buyer needs, build stronger emotional connections and anticipate future behaviours. Whether through segmentation, personalisation or predictive analytics, data-driven insights enable brands to adapt quickly and stay ahead in challenging times.

By prioritising customer loyalty, startups across Southeast Asia can build a solid foundation for long-term success, even when facing economic challenges.

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

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: Canva Pro

The post 8 ways to utilise customer data to retain loyalty during economic challenges appeared first on e27.

South Asia secured the top spot in Asia with the most significant potential for fintech lending, followed closely by Southeast Asia, a new analysis by UnaFinancial reveals.

South Asia ranked top with a multivariate average score of 1.152 points, while Southeast Asia secured 0.806 points.

Also Read: AI and automation: Transforming India’s lending landscape

Despite having the lowest digital penetration (37 per cent) of smartphone owners among Internet users and 34 per cent of digital payments users, South Asia benefits from a large share of the young population and strong fintech industry development. The region also stands out with 43 incubators for alternative lending companies and 118 funding rounds in the industry, making it the leading region in fintech investments and startup activity.

Southeast Asia boasts a strong digital infrastructure, with 59 per cent of the population using digital payments, 62 per cent of smartphone owners, and 24 incubators supporting the growth of fintech companies. Although the average income per capita (US$42) and investments in the sector are lower than in other regions, the high digital adoption and many alternative lending companies signal solid future growth prospects.

In comparison, West Asia and East Asia show lower growth potential. West Asia ranked third with a score of 0.773. The region benefits from the highest income per capita (US$66) and strong investment (US$2.31 billion). However, it still lags in establishing fintech companies and incubator support.

East Asia, with a score of 0.698, excels in digital payment usage (93 per cent) and mobile connectivity (124 per 100 people) but faces challenges due to a smaller share of young population and a reliance on traditional financial institutions.

“As fintech lending continues to develop across these regions, we can expect rapid growth driven by digital adoption, increased investment, and the expansion of alternative lending services. South and Southeast Asia are particularly well-positioned to lead this trend, paving the way for a more inclusive financial future,” analysts of UnaFinancial said.

The study used a multivariate average methodology to compare the fintech lending potential across South, Southeast, West, and East Asia. Central Asia was excluded from the comparison due to its emerging stage of fintech lending development.

Also Read: How Generative AI will advance embedded lending

The study ranked regions based on 14 critical factors, including mobile broadband subscriptions, average income, internet usage, smartphone penetration, investment in alternative lending, share of the young population, number of incubators for the alternative lending sector, adoption of digital payments, access to bank accounts, access to formal credit, demand for borrowed funds, number of alternative lending companies and funding rounds.

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Image credit: 123RF.

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Qarbotech, a Malaysian startup that enhances photosynthesis via advanced carbon quantum dots material, has raised US$1.5 million in funding from 500 Global, Better Bite Ventures, ID Capital, EQT Foundation, and Epic Angels Limited.

The seed extension round will enable Qarbotech to scale its operations in Malaysia, Indonesia, Thailand, and Vietnam, where demand for advanced agritech solutions is surging.

Also Read: Greentech revolution: Catalysing software’s success to drive a sustainable future

“This investment will allow us to ramp up production and bring our patented solutions to more farmers across the region, empowering them to produce more with less environmental impact,” said Amirul Merican, COO of Qarbotech.

As part of its expansion, Qarbotech is opening its first manufacturing facility in Puchong, Malaysia. The facility can produce 100,000 litres of QarboGrow monthly.

Qarbotech is a sustainability and green-tech company. Its flagship product, QarboGrow, is a photosynthesis enhancer that helps farmers increase crop yields by up to 60 per cent while reducing their environmental footprint. Thus, the firm promotes sustainable agriculture solutions that contribute to carbon sequestration.

“Our product QarboGrow is a breakthrough in plant science, using organic, biocompatible carbon quantum dots to dramatically boost light absorption and increase crop yields by up to 60 per cent. This enhancement addresses food security challenges and optimises fertiliser use, reducing the need for excessive fertilisation that could lead to soil degradation and pollution,” Chor Chee Hoe, CEO of Qarbotech, said.

In Indonesia, Qarbotech’s pilot project with PT Iceh Agro Indonesia covering 400 hectares of rice fields demonstrated an increase of up to 1 tonne per hectare in rice yields and a substantial boost to farmer incomes.

Also Read: How AI and automation can shape the future of farms

The firm’s carbon quantum dot technology also addresses carbon sequestration by enabling plants to absorb more carbon dioxide, reducing greenhouse gas emissions.

“Can you imagine the same farmer with the same land, labor and workflow, being able to produce up to 60 per cent more food? Qarbotech’s photosynthesis multiplier does exactly that. We believe their technology will be mission-critical to regions vulnerable to climate change,” shared Khailee Ng, Managing Partner, 500 Global.

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Urban infrastructure is often prone to wear and tear, leading to safety risks and costly repairs if not properly maintained. Traditional inspection methods can be invasive, time-consuming, and inefficient, making it difficult to detect hidden structural issues. Singapore-based WaveScan addresses this challenge by offering a non-destructive, AI-powered inspection solution that enables cities to monitor and manage infrastructure more effectively, ensuring safety, longevity, and sustainability.

A spin-off from A*STAR, WaveScan harnesses electromagnetics-based sensor technology and AI to offer a cutting-edge non-destructive testing (NDT) solution for urban infrastructure. Their approach ensures the safety, resilience, and sustainability of cities by providing data-driven insights for managing and maintaining critical infrastructure.

By focusing on NDT, WaveScan aims to extend the lifespan of infrastructure, enhance safety standards, and promote efficiency in urban development.

Founded by Dr. Kush Agarwal in 2018, WaveScan has benefited from strong support from A*STAR. Senior scientists contributed to the development of its core radar sensor technology and signal processing algorithms. The company has grown through government grants, awards, and a successful SEED funding round in 2021.

Also Read: BuildHub PH: Pioneering the future of construction

Now boasting a team of 11 professionals, WaveScan is at a pivotal point, with recurring revenue contracts and a hybrid business model of equipment sales, leasing, and technology-enabled services. As they expand, the company is ramping up operations to manage its increasing customer base.

Learn more about them in this email interview with Dr. Agarwal. The following is an edited excerpt of the conversation.

What are the problems that you aim to solve with Wavescan, and why is your solution better than the existing alternative?

Today’s built environment industry uses destructive testing to precisely measure embedded or concealed structures, such as metallic rebars inside concrete slabs and brackets holding facade panels. This is mainly because most non-destructive testing (NDT) technologies lack spatial resolution, meaning they cannot scan and image accurate dimensions and conditions of the embedded/concealed structures.

Over the years, we have developed a high-resolution microwave holographic imaging (MHI) technology that enables the needed spatial resolution for these target use cases to conduct diagnostics imaging rather than pre-screening and minimise destructive testing.

Since our scanning technology is fully contactless, we are automating the inspection processes using robotics, hence also addressing the manpower and safety issues in our Built Environment industry.

Can you tell us about the product development journey at WaveScan?

Since the inception of WaveScan, our core focus while developing the product has been understanding the industry requirements and end-users. Most of our early team members were scientists and researchers, so we had the necessary skills to develop the tech but needed to gain more profound know-how of the Built Environment industry’s pain points.

Also Read: VinFast to soon begin construction of US$500M EV factory in India

Since the start, we have been working closely with the Building Construction Authority (BCA) to learn about these industry technology gaps and Singapore’s regulations around structural and facade inspections and showcase our capabilities to get expert feedback. Once we had a minimum viable product (MVP), we started test-bedding it with various commercial clients for their diverse use cases.

The technology was extensively advanced during those phases before we commercially launched the first generation of our scanner product. Since this electronic hardware system uses electromagnetic waves, the scanner underwent various regulatory compliance tests before achieving the Certificate of Conformity Europe (CE) mark and later Infocomm Media Development Authority (IMDA) registration for registration in Singapore.

Please tell us more about your users or customers!

The built environment industry is fast evolving, and technology is being adopted to address its diverse needs.

Since our MVP stage, we have worked closely with early adopters to test-bed, advance, and sometimes customise our tech solution to meet specific inspection requirements. Our customers comprise private construction, inspection services, facilities management (FM), and professional engineers (PE) firms, to Government agencies such as the Housing Development Board (HDB), all of whom have been incoming requests, meaning we do not do marketing and pre-sales at the moment.

Also Read: VinFast to soon begin construction of US$500M EV factory in India

We actively engage in our Built Environment’s ecosystem and get introduced to these companies via referrals or word of mouth. Our current focus is on scaling up nationally with HDB with ongoing deployments on water leakage detections using our first-of-kind IngressScan tech solution. We also have a few ongoing overseas engagements, such as nuclear power plants and tunnelling works, where end clients are engaging with us for our accuracy in scanning the exact diameters and locations of rebars.

What is your funding history?

At WaveScan, we have been extremely fortunate to receive robust support from Singapore’s government agencies, including non-dilutive grants and startup awards totalling over US$2 million. This enabled us to raise capital selectively until the pre-product was ready and successfully benchmarked and validated by commercial customers.

We raised our SEED Round in 2021, using the funds to clear the regulatory tests, achieve CE marks, and launch the commercial product in early 2022. Over the last two years, we have built our revenue numbers to establish year-on-year growth and break-even revenue last year.

We are fundraising to fuel the company’s growth with a customer base in six countries outside Singapore, including Hong Kong, Japan, India, Australia, China, and Saudi Arabia. Financial prudence is vital to building deep-tech companies, which need longer go-to-market time and break-even and inflexion points in business, and we have followed this principle carefully since the start of WaveScan.

What is your big plan for 2024 and beyond?

We are now at a scale-up stage with established commercial use cases of our technology in the Built Environment industry.

Earlier this year (2024), we started piloting our IngressScan2122, a water leakage detection solution with HDB. We plan to roll it out nationwide next year!

Also Read: Indonesia’s construction-tech startup Gravel secures US$14M

Building upon our successful engagements in Singapore and similarities in industry regulations, we have incorporated our Hong Kong subsidiary. We are working on replicating our use cases with industry stakeholders there.

This year, we have also engaged with major oil and gas companies outside Singapore, particularly in Australia and Saudi Arabia. We have already been working with the top three in Singapore.

Our significant plans for 2024 and beyond are now to scale globally in the strategic target markets and build up ARR clients.

We also look forward to continued BCA support and guidance and events like International Built Environment Week (IBEW) 2024, which help us network and spread the word. While at home, as a Singaporean home-grown construction tech startup, we want to grow nationwide with HDB and help them solve resident’s issues, improving the turn-around time of complaints to address the root causes, enhancing the quality of life in public housing and hence our technology benefiting lives of everyday Singaporeans.

That would be the right way of giving back to Singapore’s taxpayers, as we’ve benefited from various government grants.

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Image Credit: Wavescan

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Imagine you’re dining at a fancy restaurant. The ambience is perfect, and the food looks delicious, but the waiter gets your order wrong, forgets your drink, and you’re left waiting ages for the bill. How would you rate that experience? A solid five-star or a begrudging two?

Now, flip this scenario to your contact centre: every call, chat, or email is a “dining experience” for your customers. And just like in the restaurant, every interaction shapes your customers’ perception of your brand.

This is why tracking Customer Satisfaction (CSAT) is your golden ticket to understanding what’s working, what’s not, and where you can sprinkle a little more magic.

What’s CSAT, and why should you care?

CSAT, or Customer Satisfaction Score, is essentially the “How did we do?” question you ask your customers after they interact with your support team. It’s the equivalent of handing them a feedback card after every service. While it might sound simple, CSAT is the pulse check your contact centre needs to ensure your customers are happy campers. After all, a happy customer is a returning customer, and a returning customer is good for business!

The domino effect of ignoring CSAT

Neglecting CSAT is like ignoring a leaky tap; the trickle might not seem like much, but eventually, it floods your house. Poor CSAT scores can spiral into negative reviews, lost business, and a reputation that’s harder to fix than a dodgy plumbing job. When customers feel unheard, they’re not just leaving; they’re slamming the door behind them and telling everyone about it.

Take Jane, for example. Jane calls your support team about a billing issue. The agent is unhelpful, Jane leaves frustrated, and next thing you know, she’s venting on social media. Now, it’s not just Jane who’s unhappy, but every potential customer who reads her post. This is where tracking CSAT comes into play—it’s your early warning system that things need to change before they escalate.

How can you improve CSAT? Let’s break it down

Personalisation is key

When customers feel like just another ticket number, dissatisfaction isn’t far behind. Use their names, understand their history, and tailor your responses. It’s like adding a personal touch to a handwritten letter—it feels good. One way to get this right is by using tools like CRM integrations that give your agents a full view of the customer’s journey.

Speed up response time

In the age of instant everything, waiting feels like forever. Ensure your agents are equipped to handle queries quickly and accurately. Think of it as being the Usain Bolt of customer support—fast, efficient, and leaving a lasting impression.

Automate support – your secret weapon

Automation isn’t about replacing humans; it’s about making them superhuman. Imagine a world where chatbots handle the repetitive stuff, AI tools assist with suggested responses, and your agents only step in when human touch is truly needed. This frees up your agents’ time to focus on complex queries and build rapport with customers. It’s a win-win; customers get quick responses, and agents get to shine in their areas of expertise.

Also Read: Why fintech companies should learn about customer retention from e-commerce companies

Listen and learn

Use feedback, good or bad, as a roadmap to improvement. If 10 customers say your hold music is annoying, maybe it’s time to change the tune—literally. Continuously tweak your processes based on what customers are saying, and watch your CSAT scores soar.

Automating the path to higher CSAT

Automation is not just a buzzword; it’s the backbone of a modern contact centre. With AI-driven solutions, you can analyse conversations in real time, predict customer sentiment, and even suggest the best next steps for your agents. It’s like having a crystal ball that guides you to deliver exceptional service every time. Automation also helps keep a close eye on those all-important CSAT scores, spotting trends and problem areas faster than any human could.

Plus, automation tools can seamlessly collect CSAT data at the end of each interaction, giving you a constant flow of insights without bothering your agents to chase feedback. It’s like having a 24/7 feedback loop that never sleeps.

CSAT isn’t just a number — it’s your brand’s reputation

Tracking CSAT is your direct line to understanding customer happiness. It’s not just about numbers; it’s about using those insights to fine-tune your contact centre into a well-oiled, customer-pleasing machine. So, don’t treat CSAT as an afterthought; make it your priority. Because when your customers are smiling, your business is winning—and that’s a 5-star scenario we all want to be part of.

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