Modern business logic tends to favour the bigger, the faster, the more resource-rich. That often applies, but in Asia—a region of diverse economies with a shared push for digitalisation—it doesn’t tell the whole story. Here, small and medium enterprises (SMEs) thrive in a digital economy defined as much by agility as by size.

Across Asia, SMEs make up a staggering 99 per cent of all enterprises. They aren’t just prevalent—they are engines of employment, responsible for over 60 per cent of jobs in the region, according to the ASEAN SME Policy Index (ASPI) for 2024.

More striking still is the contribution these SMEs make to the digital economy: 35–45 per cent of gross domestic product (GDP), a proportion that will only grow as SMEs continue their digital transformation. In fact, 90 per cent of SMEs are projected to reach basic digital intensity by 2030, driven by national initiatives like Singapore’s SMEs Go Digital program and Malaysia’s Digital Economy Blueprint.

Why such prominence? Partly because Asia’s vast diversity demands it. While large corporations can address broad market needs, SMEs are far better equipped to serve the specialised demands of specific regions. For example:

• Banking and finance: In the Philippines, underserved rural communities require banking solutions tailored to their unique financial circumstances. These solutions often involve micro-finance platforms and mobile banking innovations to serve those without access to traditional financial services—drastically different from the high-end banking infrastructure set up by major institutions in Singapore, a global financial hub.
• Agriculture: Indonesia’s agri-food sector provides fertile ground for SMEs to fill crucial gaps. From IoT-powered fish farms to drone-assisted crop management, these innovations help modernise farming, enhancing productivity and sustainability. Yet, due to the sheer diversity of needs, these opportunities often slip past larger companies. And while effective on a local scale, such technologies aren’t always scalable—they can be irrelevant in places like Singapore, where agriculture is nearly nonexistent in its urban sprawl.
• Telecommunications: In Asia’s most remote regions, 5G is a distant dream due to a lack of basic telecom infrastructure. For those living off the grid, SMEs can offer creative alternatives like laser communication systems, bypassing traditional infrastructure to deliver reliable connectivity. It’s a niche need that large telecom companies often overlook, but one that SMEs are uniquely positioned to address.

Also Read: Small steps, big impact: How SMEs can champion ESG initiatives

These are just a few examples that underscore one of the key advantages SMEs have over their larger counterparts: agility and speed. Larger firms, with entrenched processes and hierarchies, often struggle to pivot quickly. SMEs, with leaner structures, are more nimble, able to iterate and innovate rapidly—an essential trait in a region where digital literacy is advancing as fast as demographic shifts.

Despite their contributions, SMEs across Asia face formidable challenges. The ongoing funding winter has slowed access to growth capital, while economic pressures push larger companies into spaces once dominated by SMEs. Moreover, the very nature of SMEs—small, resource-constrained, and often sector-specific—makes them vulnerable to external shocks, be it pandemics, trade tensions, or economic downturns.

Still, there is a silver lining. From a policy perspective, governments are increasingly recognising the strategic importance of SMEs. Initiatives like ASEAN Access aim to enhance internationalisation opportunities, while a surge in business shows and tech events focused on SMEs reflects grassroots momentum.

One of these events is GITEX Asia, set for April 23–25, 2025, at Marina Bay Sands in Singapore. Expected to be among the biggest tech events in Asia, GITEX Asia promises to dive into the ongoing conversation about shaping the next wave of innovation for startups, SMEs, and more.

Individually, SMEs may be small, but collectively, they form the backbone of Asia’s digital economy—proof that bigger isn’t always better.

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In the fast-paced world of manufacturing, the ability to adapt is no longer a luxury—it’s a necessity. Businesses face constant pressure to meet changing customer demands, integrate new technologies, and stay ahead of competitors. This is where agile workspaces come into play.

What are agile workspaces?

Agile workspaces are designed to be flexible and easily reconfigurable. They allow businesses to adjust their production setups quickly to meet new requirements. Think of them as the manufacturing world’s version of a Swiss Army knife: versatile, efficient, and ready for whatever comes next.

Why are agile workspaces important?

Today’s manufacturing environment is anything but predictable. Customers expect personalised products, markets are volatile, and new technologies emerge all the time. Without the ability to pivot quickly, businesses risk falling behind. Agile workspaces provide the flexibility needed to tackle these challenges head-on.

The need for flexibility in manufacturing

Flexibility has become a critical factor in manufacturing success. With constant changes in the market and customer expectations, businesses need to be prepared to adjust their operations quickly.

Here are some of the key reasons flexibility is so important:

• Market volatility

The manufacturing industry is heavily influenced by market trends, economic shifts, and consumer behavior. For example, a sudden spike in demand for a product can leave manufacturers scrambling if their workspace isn’t adaptable. Agile workspaces allow businesses to ramp up or scale down production without major disruptions.

• Technological advancements

Technology evolves rapidly, and manufacturers need to keep pace. Whether it’s integrating automation, robotics, or IoT systems, an agile workspace ensures new technology can be adopted seamlessly. This adaptability can help businesses maintain a competitive edge.

• Customisation and personalisation

Gone are the days of one-size-fits-all manufacturing. Customers now expect products tailored to their needs, from custom car features to unique electronics. Flexible workspaces make it easier to accommodate these demands, enabling manufacturers to produce smaller batches of customised goods without wasting resources.

• Global competition

With manufacturers around the world vying for market share, agility is a significant advantage. Companies that can adapt quickly to global trends, supply chain disruptions, or shifts in consumer preferences are better positioned to succeed.

Flexibility isn’t just a trend—it’s a necessity for survival in the modern manufacturing landscape. Businesses that invest in agile workspaces are setting themselves up to respond effectively to whatever challenges and opportunities come their way.

Also Read: 7 common legal pitfalls startup founders should avoid

Key components of agile workspaces

Creating agile workspaces isn’t just about rearranging furniture or equipment—it’s about integrating thoughtful design, modern technology, and adaptable processes. Here are the key components that make agile workspaces effective in today’s manufacturing landscape:

• Modular design

Modular systems are at the heart of agile workspaces. These designs use interchangeable components that can be easily assembled, disassembled, or reconfigured to suit changing needs. For example, a modular workstation can be adjusted to accommodate new machinery or processes without significant downtime.

• Flexible Manufacturing Systems (FMS)

Flexible manufacturing systems allow for the production of various product types with minimal setup changes. These systems often include software that enables seamless switching between production lines, making it easier to adapt to fluctuating demands or new product launches.

• Collaborative robotics

Also known as cobots, collaborative robots are designed to work alongside humans, enhancing flexibility and efficiency. Unlike traditional robots, cobots are easy to program and can perform multiple tasks, making them perfect for dynamic manufacturing environments.

• Mobile workstations

Agile workspaces often feature mobile workstations that can be moved and adjusted as needed. This mobility is especially useful in industries like automotive or electronics, where assembly processes might vary from one product to another.

• Smart technology integration

The integration of smart technologies, such as IoT devices and AI-driven analytics, allows for real-time monitoring and adjustments. For instance, IoT sensors can track workspace utilisation and suggest optimisations, while AI can predict maintenance needs to prevent disruptions.

• Lean principles

Agile workspaces often incorporate lean manufacturing principles, focusing on minimising waste, optimising processes, and maintaining efficiency. This ensures that every component of the workspace serves a clear purpose and adds value to the operation.

By incorporating these components, businesses can create workspaces that are not only efficient but also adaptable to change. Agile workspaces allow manufacturers to stay ahead of industry demands while fostering innovation and productivity.

Implementing agile workspaces

Transitioning to agile workspaces doesn’t happen overnight—it’s a journey that starts with understanding your current operations and envisioning what “flexibility” truly means for your business. Every manufacturer has unique needs, and the key is to tailor solutions that align with those needs.

• Start with a workspace audit

Before making any changes, take a close look at your existing setup. Are there bottlenecks slowing down production? Are certain areas underutilised? For instance, a warehouse with fixed stations may seem efficient initially, but when new product lines are introduced, these rigid spaces often create inefficiencies.

By identifying these pain points, you’ll have a roadmap for where agility can make the biggest impact.

Also Read: Shaping the future: How flexible work arrangements are redefining Singapore’s workplace

• Invest in technology that supports agility

Agile workspaces rely on tools and systems that can adapt to changing requirements. Consider a company that recently incorporated mobile workstations and collaborative robots. These changes allowed them to switch between assembling two completely different products with minimal downtime. It’s not just about the equipment—it’s about the mindset of being ready to pivot at any time.

• Train your workforce

No matter how advanced your systems are, they won’t function effectively without a skilled and adaptable workforce. This step involves more than technical training; it’s about instilling a culture of flexibility. Employees should feel empowered to suggest workspace improvements and adapt quickly to new workflows.

• Collaborate across teams

Agility often requires cross-departmental cooperation. Imagine a scenario where your production team needs to introduce a new assembly process. By involving your design and supply chain teams from the start, you can ensure that the workspace is optimised for this new process without delays or miscommunication.

• Think long-term, start small

It’s tempting to overhaul everything at once, but a phased approach often works better. Start with a pilot project in one area of your workspace. For example, redesign a single production line to be more modular and test its performance. Use these insights to scale the changes across your facility.

Case studies: Agile workspaces in action

The true power of agile workspaces comes to life through stories of businesses that have embraced flexibility to thrive in challenging environments. Across industries, companies are proving that adaptability isn’t just a nice-to-have—it’s a game-changer.

In the automotive sector, one manufacturer was on the brink of losing market share due to its inability to keep up with the demand for personalised vehicles. Customers wanted options—custom interiors, advanced features, and unique finishes—but the company’s rigid production lines weren’t built for change.

By introducing modular workstations and flexible manufacturing systems (FMS), they turned things around. What once took days to reconfigure could now be done in hours. This approach, supported by technologies like Computer Numerical Control (CNC) machines, is widely recognised for reducing downtime and enabling rapid product adjustments (Shoplogix). The result? A reputation as a customer-centric brand that delivers.

Meanwhile, in the electronics industry, the stakes were just as high. One company faced the relentless pace of product turnover, with new gadgets rolling out every few months. Their solution? Mobile workstations and flexible systems that allowed production lines to shift seamlessly from one product to the next. They not only kept up with demand but also slashed setup times in half, securing their spot as an innovation leader in their field.

Even in warehousing, agility is proving indispensable. A logistics provider found themselves overwhelmed during peak seasons, struggling to keep up with the surge in online orders. By redesigning their workspace with adjustable shelving and IoT-enabled inventory systems, they gained the ability to adapt layouts on the fly. When holiday demand hit, they were ready—processing orders 20% faster and keeping customers happy.

From aerospace to retail, the stories are consistent: businesses that embrace agile workspaces are better equipped to handle change, deliver results, and stay ahead of the competition. It’s not just about the tools or the layouts; it’s about adopting a mindset of adaptability and innovation.

Challenges and considerations

Adopting agile workspaces sounds promising, but it’s not without its hurdles. Transitioning from a traditional setup to one that embraces flexibility involves more than just shifting furniture or equipment—it requires a change in mindset, operations, and sometimes even culture.

For many businesses, the first challenge is cost. Investing in modular systems, advanced robotics, and IoT-enabled devices comes with a hefty price tag. It’s a decision that often feels risky, especially for companies already juggling tight budgets. But this isn’t just an expense—it’s an investment. Over time, the savings in efficiency and reductions in downtime often outweigh the upfront costs, though it takes a forward-thinking leader to see this through.

Also Read: Work-life balance in the startup world: Myth or achievable goal?

Change management is another stumbling block. Agile workspaces demand that employees think and work differently. For example, a floor manager used to rigid workflows might resist the idea of reconfiguring workstations on a weekly basis. Workers might feel overwhelmed by the introduction of unfamiliar technology. Without proper communication and training, these shifts can create friction. It’s not about simply telling people to adapt—it’s about showing them how these changes can make their jobs easier and more rewarding.

Even technology itself can pose challenges. Manufacturers reliant on older systems often find it difficult to integrate new agile tools without disrupting existing operations. Imagine introducing a robotic arm that operates seamlessly with modern software but struggles to communicate with legacy machinery. These moments of friction can lead to temporary setbacks, which is why careful planning and phased implementation are critical.

Then, there’s the broader question of scalability. While agile workspaces are designed to be adaptable, not all industries or operations have the same needs. What works well for a small electronics manufacturer might not translate easily to a large-scale automotive plant. Each company must find its own balance between flexibility and stability, often through trial and error.

Despite these challenges, businesses that navigate them successfully often find the rewards far outweigh the initial hurdles. It’s not about avoiding the difficulties but facing them with a plan, a vision, and a willingness to embrace change.

Future outlook: The evolution of agile workspaces

The concept of agile workspaces is constantly evolving, driven by technological advancements, changing market dynamics, and a growing emphasis on sustainability. As industries continue to embrace flexibility, the future holds exciting possibilities for what agile workspaces can achieve.

Imagine a manufacturing facility where artificial intelligence (AI) predicts production demands weeks in advance, automatically reconfiguring workstations to meet these needs. Sensors embedded in modular systems track performance in real-time, identifying bottlenecks and suggesting adjustments on the fly. This isn’t a distant dream—it’s the direction agile workspaces are heading, merging the physical and digital worlds to create smarter, more efficient environments.

Sustainability is another major force shaping the future of workspaces. As businesses strive to meet environmental goals, modular and reusable designs will play a pivotal role. Agile workspaces reduce material waste and energy consumption by enabling manufacturers to reconfigure and reuse components rather than replace them. This not only supports corporate social responsibility but also aligns with the demands of eco-conscious consumers and investors.

Collaboration between humans and machines is also set to reach new heights. With advancements in robotics, workers and robots will work side by side in more intuitive ways, combining the precision of machines with the creativity and problem-solving skills of humans. The result? Workspaces that are not only efficient but also empowering for employees.

Moreover, the adoption of agile workspaces is expanding beyond manufacturing. Industries such as healthcare, logistics, and retail are recognising the benefits of adaptable environments. Hospitals, for instance, are designing modular patient rooms to accommodate different medical needs, while retailers are using flexible layouts to enhance the in-store experience.

The journey to fully agile workspaces won’t be without challenges, but the direction is clear: adaptability, sustainability, and technology integration are no longer optional—they’re essential for thriving in a rapidly changing world.

As we look ahead, one thing remains certain: businesses that prioritise flexibility today are laying the groundwork for success tomorrow. The future of agile workspaces is bright, innovative, and brimming with potential to reshape industries as we know them.

The ongoing journey of agile workspaces

Agile workspaces are more than a trend—they’re a mindset and a strategy for adapting to change. By embracing flexibility, businesses position themselves to tackle the unknown, innovate continuously, and stay competitive. As industries evolve, so too will these spaces, paving the way for smarter, more sustainable, and collaborative work environments.

The journey isn’t over. It’s just beginning.

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Since joining Docquity a year and a half ago, my journey has been marked by a relentless pursuit to support healthcare professionals across Southeast Asia with digital solutions built around:

• Education
• Community
• Productivity and growth tools
• Employment opportunities

The healthcare sector is a realm of immense potential.

Yet, every opportunity must be approached with precision and care, considering the profound impact on human lives.

Navigating this industry presents challenges, especially given the stringent compliance and regulatory landscape.

However, the silver lining is the industry’s accelerating shift towards digitalisation.

Our recently published report, Docquity Pulse Check 2023: Decoding a Doctor’s Learning and Engagement Habits, is a testament to this transformation.

The insights from this report have been a beacon of encouragement for my fellow startup founders in healthcare, offering tangible evidence of the industry’s significant strides toward a digital future.

The digital learning paradigm

The report reveals that 91.1 per cent of Southeast Asia’s doctors continue to participate in digital learning events, with the frequency of attendance at these digital events being notably higher (3.9 times per month) compared to in-person events (3.0 times per month).

This inclination towards digital learning is prevalent among both identified learning cohorts—digital dominant and in-person dominant learners, each displaying unique engagement behaviours but converging in their participation in digital learning.

Also Read: Revolutionising healthcare in Vietnam: The reality of healthtech unveiled

Digital healthcare evolution

The alignment of digital healthcare’s growth trajectory with doctors’ learning habits is a testament to the evolving healthcare landscape in the region. The majority of the region’s doctors (65.9 per cent) prefer to participate digitally in hybrid learning contexts, driven significantly by the convenience of on-demand content, with more than half (52.9 per cent) of doctors favouring digital learning due to their overwhelmed schedules.

Impact on the health tech ecosystem

These findings are exhilarating for the entire health tech ecosystem of Southeast Asia. The irreversible digitalisation of healthcare and the substantial market share of digital indicate a ton of opportunities for companies to innovate and improve the quality of doctor interactions.

The nuanced preferences in learning styles and the balanced approach to industry outreach, blending digital and in-person interactions, are crucial clues for shaping the future of health tech in the region.

Peer-to-peer digital networks

The emergence of digital peer-to-peer networks as vital support systems, with 48.4 per cent of doctor interactions in the region occurring virtually, is indicative of the multifaceted role of digital platforms in professional exchanges and social support.

These interactions are reflective of the diverse needs of the healthcare workforce and are crucial in alleviating the stress of strained healthcare workforces.

In summary

The findings from the Docquity Pulse Check 2023 report are quite insightful, providing a glimpse into the future of the health tech ecosystem in Southeast Asia.

The prevailing digital learning preferences, the rise of digital peer-to-peer networks, and the alignment of digital healthcare growth with learning habits are exciting developments, signalling a promising future for health tech innovations in the region.

By embracing these insights, the health tech ecosystem in Southeast Asia is poised to shape and lead the future of healthcare and education in the region.

To delve deeper into the survey insights and to explore more about the evolving learning habits, peer-to-peer interactions, and opportunities for industry engagement in the health tech ecosystem of Southeast Asia, access the full report here.

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This article was first published on October 2, 2023

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Web3 has emerged as a game-changer, promising a decentralised, user-driven internet. But what lies ahead for this transformative technology?

As we move toward 2025, Web3’s potential to redefine industries, reshape economies, and empower individuals continues to unfold. Yet, challenges around scalability, security, and adoption remain.

Explore the opportunities, hurdles, and the exciting road that Web3 is paving for the future.

What is Web3?

Web3 is the buzzword reshaping conversations about the internet’s future. Often described as the third generation of the internet, Web3 aims to build a decentralised, user-centric ecosystem, putting individuals at the core of digital interactions. 

“Web3 is becoming the collective term for blockchain, crypto, decentralisation & hope for a better internet,” says The Alternative UK, reflecting the optimism around this transformative paradigm.

At its core, Web3 introduces key elements that define its vision:

• Decentralisation: Power shifts from centralised authorities to distributed networks.
• Blockchain: The backbone enabling transparency, trustless transactions, and immutability.
• Smart contracts: Self-executing programs that eliminate the need for intermediaries.
• Tokenisation: Digital assets that drive new economic models and enable innovation.
• User sovereignty: Ownership of data, identity, and digital assets remains with individuals, fostering privacy and independence.

Matt Weatherall, Incubation Lead at RADAR, aptly notes, “Web3 is still very much in its formative years. It’s not clearly defined; it’s a work-in-progress.” This underscores both the immense potential and the evolving nature of Web3 as it continues to take shape.

By 2025, Web3 could become the defining framework for a new digital economy, unlocking opportunities across industries and fundamentally altering how we interact online. It’s not just an upgrade—it’s a movement toward a more democratic and equitable internet.

Web3: Evolving the network economy

Web3 is not just a technological upgrade; it represents the next phase in the evolution of the Network Economy—a megatrend defined by decentralisation, collaboration, and digitalisation. The global Web3 market, valued at US$2.25 billion in 2023, is projected to grow at an astonishing CAGR of 49.3 per cent from 2024 to 2030, according to Grand View Research.

To fully grasp Web3’s potential, it’s crucial to situate it within the broader context of the Network Economy, which has been reshaping industries over the past decade. The Sharing Economy, with platforms like Airbnb and Uber revolutionising the way resources and services are shared. These systems bypass traditional structures in favour of peer-to-peer networks, enabling greater efficiency and accessibility.

Similarly, crowdsourcing and collaborative models, exemplified by Wikipedia, highlight the immense power of collective intelligence. By pooling resources and knowledge from diverse communities, these platforms have transformed how problems are solved and information is disseminated.

While the Network Economy has thrived, it still relies on intermediaries—be it companies like Uber or banks facilitating transactions. Web3 takes this further, eliminating intermediaries through blockchain and decentralised technologies.

By leveraging Web3, users gain direct control over their assets, data, and interactions. No longer must they rely on a central authority to mediate transactions or validate ownership. Instead, decentralised systems offer transparency, security, and autonomy, empowering individuals to fully participate in a distributed digital economy.

Also Read: How Web3 will revolutionise borderless banking in Southeast Asia

Web3 doesn’t just evolve the Network Economy—it redefines it, laying the groundwork for a truly decentralised, user-driven future. As blockchain and decentralised applications gain traction, we are witnessing the emergence of a new paradigm where ownership, collaboration, and value creation align seamlessly with the principles of the digital age.

Blockchain: The magic that makes Web3 a reality

Blockchain has added crucial elements to Web3, transforming it into a groundbreaking evolution of the current model.

• Trustless systems: One of blockchain’s most powerful features is its ability to facilitate transactions without relying on trust between parties. Thanks to encryption and the transparency of distributed ledgers, blockchain enables seamless exchanges where intermediaries are no longer necessary.
• Transparency and immutability: Blockchain ensures that every transaction is publicly verifiable. Once data is recorded on the blockchain, it is immutable, meaning it cannot be altered or deleted. This guarantees the integrity of the data and builds a foundation of trust in digital ecosystems.
• Programmable money: With blockchain technology, cryptocurrencies like Bitcoin and Ethereum are not just digital currencies—they’re programmable. This means transactions can be automated without the need for third parties, streamlining processes and reducing costs.
• Smart contracts: These self-executing contracts automatically enforce the terms of an agreement, eliminating the need for intermediaries and reducing transaction costs. By doing so, they enhance efficiency and help foster trust in decentralised environments.
• Digital assets: With blockchain, digital assets such as cryptocurrencies and NFTs (Non-Fungible Tokens) have gained mainstream traction. These assets allow individuals to own and trade values directly, cutting out traditional intermediaries and giving users more control over their digital wealth. This surge in digital assets is directly linked to the rise of crypto wallets as more individuals seek to engage with these assets.

According to Consensys, by 2024, over half the populations in countries like Nigeria (84 per cent), South Africa (66 per cent), Vietnam (60 per cent), the Philippines (54 per cent), and India (50 per cent) are reported to own a crypto wallet. This reflects a growing global interest in blockchain-based assets.

In the Americas, the US leads with 43 per cent, and Turkey stands out in Europe with 44 per cent. This widespread adoption of crypto wallets showcases how blockchain’s capabilities in securing, managing, and enabling digital assets are empowering users worldwide, giving them more control over their financial futures.

Blockchain is not only enhancing trust; it is enabling Web3 platforms to expand beyond traditional sectors, leading to the creation of innovative applications across multiple industries. As these technologies continue to mature, we’re only beginning to see the transformative potential of Web3.

Web3 security: The key to a trustworthy decentralised future

As Web3 technologies continue to evolve, ensuring robust security is becoming a critical component for the sustainable growth of blockchain networks, smart contracts, and decentralised applications (dApps). 

Web3 security is rapidly gaining momentum as one of the most crucial fields in the Web3 ecosystem. Over 200 companies are currently dedicated to securing blockchain networks and decentralised applications, employing more than 5,000 professionals.

The sector’s growth rate of 153.11 per cent highlights the increasing demand for advanced security measures to support Web3’s scalability and longevity. This exponential growth emphasises the pivotal role that Web3 security will play in realising the potential of decentralised technologies and protecting users’ assets and data.

Also Read: How to scale voluntary carbon markets with DeFi and Web3

Kitty Horlick, COO of Rarilabs, articulates a transformative shift in Web3 security, “Self-sovereign identity, where users have full ownership over their personal data, will empower people to engage securely across dApps without relying on centralised identity providers.” This fundamental change in how identities are managed will not only foster greater participation in decentralised governance and digital economies but will also unlock new opportunities for individuals to control their digital presence across platforms.

The integration of secure self-sovereign identities allows users to interact with social media, gaming platforms, and productivity tools without depending on centralised servers. This decentralisation enhances privacy, security, and autonomy, aligning with Web3’s overarching goals of providing user-centric platforms that prioritise control and freedom over personal data. As the Web3 ecosystem continues to scale, the evolution of Web3 security will be instrumental in building a safe, trustworthy, and user-friendly decentralised internet.

The convergence of DeFi and fintech in 2025

Web3 is fuelling the rapid growth of decentralised finance (DeFi), which promises to revolutionise the financial landscape by offering services without intermediaries such as banks. While DeFi is still in its early phases, it has already made significant strides, with more than 170 companies and over 9,000 professionals dedicated to improving wallet security and enhancing the user experience.

The annual growth of DeFi wallets, at 79.17 per cent, underscores their increasing importance in the broader Web3 ecosystem. These wallets are not only secure platforms for managing digital assets but also act as gateways to decentralised financial services like lending, borrowing, and yield farming, all without the need for traditional financial institutions.

This evolution could democratise financial services, offering greater access to capital and opportunities for individuals who have historically been excluded from the traditional banking system. DeFi has the potential to break down barriers to financial inclusion, providing a more accessible and open financial ecosystem for users worldwide.

June Ou, CEO of Provenance Blockchain, captures the momentum of this transformation, “2025 is the year DeFi takes off its training wheels and rides straight into the fintech fast lane. For too long, DeFi’s been that brilliant-but-awkward kid in the corner — full of potential but too complicated and a bit intimidating for the average person. That’s all about to change. Next year, we’ll see fintech and DeFi collide in a way that’s impossible to ignore.”

As the convergence of DeFi and fintech accelerates, the landscape is poised for dramatic change. In 2025, DeFi will evolve beyond its experimental phase, becoming a mainstream player in the financial sector. This intersection promises to simplify and democratise financial services, offering users a seamless experience and a wealth of new opportunities to engage with decentralised finance.

In conclusion, Web3 is more than just a buzzword—it’s a transformative force that has the potential to redefine how we interact with the digital world. As we approach 2025, the opportunities it presents for decentralisation, user sovereignty, and innovation are undeniable. However, the journey to mainstream adoption is not without its challenges, including scalability, security, and regulatory hurdles.

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Artificial Intelligence (AI) is reshaping industries, changing how businesses operate and innovate. For startups and small and medium-sized enterprises (SMEs), AI offers a chance to compete on equal footing with larger organisations. By delivering data-driven insights and automation, AI drives growth and streamlines operations. This special series by e27 highlights how SMEs are leveraging AI to adapt to today’s fast-paced business environment.

In this instalment of e27’s AI Leader Content Series, James Chisham, Vice President of Product Management at Oracle NetSuite, shares insights on why SMEs need to embrace AI, strategies for overcoming adoption challenges, and how this transformative technology can level the playing field for smaller businesses.

How AI transforms SME operations

AI’s potential lies in its ability to make businesses smarter, faster, and more efficient. For SMEs, this means automating routine processes like data entry, enabling employees to focus on higher-value tasks. AI-powered insights also allow businesses to make data-driven decisions, from forecasting sales to identifying market trends.

Customer engagement is another area where AI excels. Tools like generative AI chatbots and machine learning (ML) models deliver personalised, human-like interactions, enhancing customer satisfaction and loyalty. These innovations enable SMEs to scale their customer service efforts without massive overheads, ensuring they remain agile and competitive.

By automating repetitive tasks, streamlining workflows, and delivering personalised customer interactions, AI empowers SMEs to compete on a level playing field with larger enterprises. Modern AI tools integrate seamlessly into existing systems, making adoption smoother than ever. For SMEs, embracing AI isn’t just about keeping up—it’s about unlocking growth and staying ahead.

Why SMEs hesitate to adopt AI

AI has the power to revolutionise industries, yet many SMEs hesitate to adopt it due to some concerns about cost, complexity, and safety.

The number one thing still is lack of understanding. There’s been such an avalanche of AI information and how it can do all these wonderful things. Because an SMEs primary focus is running their business, then they start thinking: do we assign people to look at this specifically? Do we divert them away from important work to look at it? And then you get into the realms of do we need data scientists and people to manage data and things,  all of a sudden that’s a heavy lift for them. So, I think there was definitely a big learning curve.

I think the other thing that we see commonly is that we have lots of organisations cropping up building businesses around AI itself. So, they’ll have these people knocking on their door saying “wow, look at us! Great capability.” And again, you have to weigh that up in terms of understanding what that solution does and if there’s an additional cost, and then that makes that difficult as well.

Thirdly, there was a lot of talk around what AI will generate for you. Can we rely on that? Do we feel safe in entrusting our business data to an AI machine? Because you want your data secure, only accessible by you. You want your model running on your data, you want to be sure about the results that it’s bringing back.

Also read: Are we stressing ourselves out amidst AI adoption

…and why they shouldn’t

While not fully unfounded, there are many ways that SMEs can challenge and work around these misconceptions. Technological advancements have democratised AI, offering tools that are cost-effective and easy to use. SMEs can now adopt AI solutions without overhauling their operations or hiring dedicated data scientists.

Adopting AI doesn’t have to be overwhelming. SMEs should start small, focusing on targeted proof-of-concept projects to test AI’s potential in specific areas of their operations. Establishing clear goals and measuring ROI ensures that these early efforts deliver value and build confidence in scaling further.

By leveraging modern tools with built-in AI capabilities, SMEs can quickly achieve tangible benefits without the burden of high costs or complexity. This approach allows businesses to integrate AI into their workflows naturally and sustainably.

How Oracle NetSuite weaves AI into their systems

The one thing that we’ve done as a business at Oracle NetSuite is looked at our technology from the ground up. In terms of the way that our users consume AI, we want to have it in the fabric of the workflows, of the things that they do every day. We call it advise and assist. So, advise is delivering insights and assist is delivering productivity. Certainly, for an SME, that productivity angle is really important, because typically they may be running with lean finance departments, operations, departments, etc. When we talk about analysing business data and informing decision making, we want to free up users to do that more value-add work.

Our technologies run on Oracle Cloud infrastructure. Within that you get all of that compute power and the AI models that an enterprise customer would would receive. We wanted to very much make our AI consumable, and just have it in the fabric of our customer systems so SMEs can also have that kind of experience.

AI adoption requires understanding and data — always, data

The first challenge is just even understanding how they can leverage it. What areas of their business is it really going to drive impact? Because you don’t want to use AI just for AI’s sake. For many SMEs, the biggest challenge is understanding how AI fits into their business model and whether their current infrastructure supports it.

Successful adoption begins with building a solid foundation, particularly around data. We firmly believe the best AI is fuelled by the best data and that AI is only as effective as the data it’s trained on, which makes consolidating business data across functions—such as accounting, HR, and sales—a critical first step.

Also read: Why sustainable power starts with data

A lot of SMEs will probably know the feeling of having pockets of information and data in spreadsheets and various other systems. Cloud-based platforms that integrate AI capabilities simplify this process. These platforms eliminate the complexity of siloed systems and offer SMEs the scalability needed to grow. Investing in these solutions not only supports AI adoption but also lays the groundwork for long-term operational efficiency and innovation. There is also the security aspect, because you want your data to be secure. Our value at Oracle NetSuite is you bring that data into our suite because you want to be able to rely on that data and know that data is the single source of the truth.

Get your technology foundations right for better AI adoption

SMEs should get their tech stack in order and look to adopt a cloud solution to be able to get the most of their AI. If you get the technology foundation correct, then that’s not only going to power your growth as a business, but also power your growth into adopting AI.

For smaller businesses with these growth ambitions, adopting an integrated cloud based platform like Oracle NetSuite will allow them to reap the benefits of embedded AI capabilities at no additional cost. It also reduces complexity as it connects their data across the business and automates core business processes, which goes back to having data that fuels their AI. Ultimately, when you get to the point of adopting AI, you’ll  get some very, very quick wins in terms of automating some of those very manual business processes. And then you can build on that foundation as you come along.

As with most impactful things, AI adoption requires investment for sustainable scaling

Commit to invest. When a business starts, they’re really trying to grow their business very quickly. They’re using a spreadsheet or maybe a small package that they’ve got from somewhere, but then very quickly, as their business grows, they find that they’re in a position where they can’t manage the business effectively. They’ll have some new staff, they’ll have a new department, they very quickly might need to move to a new market because of the growth, and then they realise they need something to support their growth.

Adopting new technologies generally takes some kind of investment, and it usually takes a bit of time for you to realise a return on that investment. SMEs should definitely look to choose tools with AI built into the software and not bolted on. Have that AI in the fabric of the software and everything that you do; don’t try to bolt pieces on because you’ll then bring in additional complexity into to the whole process. So that way, you’re going to get some immediate value from from AI, likely with a limited cost as well.

Also read: Breaking barriers: iFLYTEK’s insights into AI’s role for SMEs

Oracle NetSuite on what’s next for SMEs and AI

The future of AI for SMEs is brimming with possibilities. Over the next three to five years, advancements in generative AI and low/no-code tools will further democratise access to this technology. AI will continue to level the playing field for SMEs and allow them to compete with larger businesses, who arguably will have more people and bigger budgets. SMEs will be able to automate content creation, streamline workflows, and integrate seamlessly with emerging tools like personal AI assistants. These innovations will not only enhance operational efficiency but also enable SMEs to offer differentiated, personalised customer experiences at scale.

The boundaries of AI technology, we can’t even see the edge of it right now. But ultimately, at the core, AI will help customers do more with less, increase revenue, expand margins, and create healthier businesses that can flourish in any economic environment. The growth is exponential; there’s going to be a lot happening. But I’d always tie it back to you have to start with the right foundations.

Oracle NetSuite, a global leader in cloud-based business management software, empowers SMEs to streamline operations, enhance decision-making, and scale efficiently. It is the leading integrated cloud business software suite, including business accounting, ERP, CRM and e-commerce software. By embedding AI into its platform, NetSuite provides SMEs with advanced tools to drive growth and innovation.

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This article is part of e27’s special series on Artificial Intelligence for Startups and SMEs, where we explore the transformative power of AI in helping startups and small and mid-sized enterprises navigate today’s competitive landscape. Stay tuned for more insights from industry leaders in upcoming editions.

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