It’s no longer just imagination—over the past year, we’ve witnessed AI technology becoming more powerful and accessible. Unfortunately, this also means it’s easier than ever for cybercriminals to exploit AI for hacking and other malicious activities.

Whether it’s generating convincing phishing emails, automating attacks, or bypassing traditional defences, AI has raised the stakes for cybersecurity. That’s why preparing a robust cybersecurity strategy for 2025 is essential, especially for corporations and startups. With the right approach, you can stay ahead of the threats while embracing the opportunities AI offers.

Let’s dive into the steps you can take to future-proof your organisation.

Assess where you are today

Before you can move forward, you need to know where you stand. Start with a full review of your current cybersecurity setup:

• Are your devices protected? Endpoint security is critical for safeguarding workstations, mobile devices, and servers.
• Is your network secure? Regularly check for misconfigurations or gaps in your defences.
• How secure is your cloud? Cloud misconfigurations are a common vulnerability, and the shift to remote work has made this a prime target.

Leverage AI-powered tools to automate this process and uncover vulnerabilities you might otherwise miss.

Bring AI to your defence

When cybercriminals use AI, so should you—but for the right reasons. AI can help your organisation:

• Spot unusual activity in real time.
• Automate responses to stop threats before they spread.
• Predict potential attacks by analysing historical data and trends.

Invest in solutions like AI-driven threat detection platforms or Managed Detection and Response (MDR) services that bring both speed and precision to your security operations.

Lock down your cloud environment

The cloud isn’t just convenient—it’s critical for modern business operations. But with that comes responsibility:

• Use Cloud Security Posture Management (CSPM) to detect and fix misconfigurations automatically.
• Review user access regularly and enforce strict permissions—AI can help by identifying accounts with excessive privileges.
• Keep compliance in check. Whether it’s GDPR, PCI DSS, or NIST, make sure your cloud setup meets the necessary standards.

Also Read: Indonesia’s antivirus reliance: A cybersecurity blindspot

Protect your data at all costs

In the AI era, data is a top target. To safeguard your organisation:

• Encrypt sensitive data at every stage—whether it’s stored on your servers or travelling through the network.
• Adopt a zero-trust architecture, where every access request is verified, even from within your organisation.
• Regularly back up data and test your recovery plans. This ensures you’re ready to bounce back if ransomware strikes.

Train your team to spot AI-powered scams

AI has taken phishing and scams to a whole new level. Sophisticated fake emails, cloned voices, and even deepfake videos can easily trick untrained employees. To counter this:

• Run regular training sessions so your team can identify suspicious emails, links, or requests.
• Use tools that analyse email content and block potential phishing attempts.
• Implement multi-factor authentication (MFA) to add an extra layer of security.

Be ready for breaches

No system is completely invincible. What separates resilient organisations from the rest is how prepared they are to respond:

• Have a detailed incident response plan and ensure everyone knows their role in it.
• Conduct regular simulations to test your defences and refine your recovery process.
• Invest in forensic tools that can quickly analyse breaches, contain the damage, and prevent repeat attacks.

Build security into development processes

If your organisation builds software or digital products, this step is a must. DevSecOps integrates security right into your development pipeline, ensuring vulnerabilities are addressed from the start:

• Automate security checks during coding and deployment.
• Run regular tests on APIs and third-party libraries.
• Encourage developers to prioritise secure coding practices through training and tools.

Also Read: Cybersecurity in Asia: Trending toward a safer digital future

Collaborate with trusted cybersecurity partners

You don’t have to go it alone. Partnering with experienced cybersecurity providers can give you access to advanced tools and expertise without overburdening your team. Look for solutions that:

• Provide round-the-clock monitoring and rapid response.
• Offer scalability, so your security grows with your business.
• Continuously adapt to new threats, especially those driven by AI.

Prioritise compliance and governance

With AI amplifying risks, staying compliant isn’t just about avoiding fines—it’s about maintaining trust with customers and stakeholders. To keep up:

• Monitor regulatory changes in your industry.
• Conduct regular audits to identify and address gaps.
• Use AI-powered compliance tools that map requirements and flag non-conformities automatically.

Stay informed and stay ahead

The cybersecurity landscape is always changing, especially with AI in the mix. Make it a priority to keep your team informed about new threats and best practices.

• Join industry forums and attend webinars to stay updated.
• Subscribe to trusted threat intelligence feeds.
• Create a culture of adaptability, where your team is always ready to embrace new challenges and solutions.

Wrapping up

As we head into 2025, AI will continue to reshape how businesses operate—and how cybercriminals attack. The good news is that with the right strategy, you can turn AI into your greatest ally rather than a looming threat.

By assessing your current setup, leveraging AI for defence, and building a culture of security across your organisation, you’ll be well-equipped to face whatever the future holds. Whether you’re a startup navigating limited resources or a corporation managing complex systems, the time to act is now.

Remember, cybersecurity isn’t just a technical responsibility—it’s a business enabler. Let’s make 2025 the year your organisation thrives securely in the age of AI.

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Southeast Asia’s corporate VC landscape has evolved significantly. Numerous corporations have established dedicated investment arms to foster innovation and gain strategic advantages. Prominent examples include SoftBank Ventures Asia, Singtel Innov8, MDI Ventures, and UOB.

These corporate VC initiatives not only provide capital but also offer strategic support, industry expertise, and access to extensive networks, thereby accelerating the growth of startups in Southeast Asia. Corporate investors’ active participation underscores the region’s dynamic startup ecosystem and the critical role of CVCs in driving innovation and economic development.

We have compiled a list of the most active corporate VC initiatives in the region below:

SoftBank Vision Fund

The SoftBank Vision Fund is a venture capital fund managed by SoftBank Investment Advisers, a subsidiary of Japan’s SoftBank Group.

Established in: 1990
Location: England, Tokyo, Singapore, Abu Dhabi, Hong Kong, Maharashtra, Riyadh, Shanghai, California, Mexico City, Florida, State of Sao Paulo Overall portfolio count:
Notable investments: Klarna, Gopuff, Devoted Health, Fanatics, FTX, OYO, Guazi, Revolut, Chime, ByteDance, OakNorth Bank, Jellysmack, Andela, TravelPerk, Aleo, Remote, Blockdaemon, LTK, M1, Fabric, Fetch, Sorare, Fair, Clearco, Loggi, Greensill, ZEPETO, Abogen Biosciences, CommerceIQ, Yanolja, Extend, Vendr, Pax8, Rimac Automobili, Pacaso, Sendbird, Perplexity, InMobi, Nuro, Cybereason, Upside Foods, SayWeee, ZenBusiness, Katerra, Contentsquare, Lenskart, OneTrust, Carro, Esusu, and Minio.

Singtel Innov8

Singtel Innov8 is the corporate VC fund of Singtel, Asia’s leading communications technology group. With an evergreen fund of US$350 million, Innov8 invests in and partners startups with promising innovations and possible applications for Singtel Group’s diverse business needs.

Established in: 2010
Location: Singapore
Overall portfolio count: 108
Notable investments: BitSight, Cato Networks, Silverfort, Carro, Zeotap, CTERA, Balbix, Demyst, ShopBack, Halodoc, Teridion, PrivyID, Endowus, Wiz, Synack, Kumu Networks, Prophecy, AiCure, CounterTack, Airalo, and StrongDM.

Also Read: How technology is shaping Asia’s startup ecosystem nowadays

Saison Capital

Saison Crypto, the corporate VC firm owned by Credit Saison, invests in pre-seed to Series B-stage companies.

Established in: 2019
Location: Singapore
Overall portfolio count: 98
Notable investments: Growsari, Ula, LummoSHOP, OY!, Stashfin, Bazaar, and KoinWorks.

MDI Ventures

MDI Ventures is a multi-stage VC firm backed by Telkom Indonesia. It mainly focuses on fintech, cloud computing, and other fast-growing sectors.

Established in: 2015
Location: Indonesia and the US
Overall portfolio count: 91
Notable investments: Akulaku, MPL, NIUM, Kredivo Holdings, Fazz, Qoala, Alodokter, Loft Orbital, aCommerce, Zenius, Zenlayer, Evermos, PrivyID, JULO, KoinWorks, Amartha, QFPay, OY!, Aruna, Deskera, SiCepat, and InstaReM.

UOB

A venture capital firm backed by the United Overseas Bank, a leading bank in Asia with a global network of 500 branches and offices across 19 countries.

Established in: 1992
Location: Singapore, China, Vietnam, and Indonesia
Overall portfolio count: 80
Notable investments: Polyhedra Network, MiningLamp, ViSenze, Ruangguru, Fantom, HappyEasyGo, Halodoc, Evermos, Thuocsi, GCT Semiconductor, HunterOn, Amartha, Sociolla, and Pluang.

Kickstart Ventures

Kickstart is a wholly-owned corporate VC firm of Globe Telecom, the Philippines’ leading mobile operator.

Established in: 2012
Location: The Philippines
Overall portfolio count: 58
Notable investments: Kumu, Havenly, Roslin Technologies, and Teridion.

Vulpes Ventures

Vulpes Ventures is the venture capital group within Vulpes Investment Management Pte Ltd, a Singapore-based alternative investment manager.

Established in: 2011
Location: Singapore, Australia, and Vietnam
Overall portfolio count: 54
Notable investments: Sharesies, BetterPlace, Funding Societies, and Flash Coffee.

Heritas Capital Management

Heritas Capital is the investment arm of the IMC Group foucusing on PE, VC, and fund of funds investments

Established in: 1997
Location: Singapore
Overall portfolio count: 23
Notable investments: Alodokter and Hummingbird Bioscience

Mandiri Capital

Mandiri Capital Indonesia is a corporate VC firm operated by the country’s largest financial institution, Bank Mandiri.

Established in: 2016
Location: Indonesia
Overall portfolio count: 48
Notable investments: KoinWorks, Amartha, Qoala, Mekari, LinkAja, and PrivyID.

SC Ventures

SC Ventures is a business unit that provides the platform and catalyst for Standard Chartered to promote innovation, invest in disruptive financial technology and explore alternative business models.

Also Read: Mapping the future: 30 most exciting startups in the Philippines

Established in: 1969
Location: Singapore, the United Kingdom, Kenya, and China.
Overall portfolio count: 36
Notable investments: Solv, Silent Eight, OpenFin, vArmour, Thought Machine, Instabase, and Symphony.

BRI Ventures

BRI Ventures is a corporate VC initiative backed by Bank Rakyat Indonesia

Established in: 2019
Location: Indonesia
Overall portfolio count: 30
Notable investments: Broom, Funding Societies, Pluang, Qoala, Fazz, and LinkAja.

InVent

InVent is a corporate venture capital project of Intouch Holdings, which invests in high-growth technology companies in Thailand and Southeast Asia.

Established in: 2012
Location: Thailand
Overall portfolio count: 24
Notable investments: ShopBack and Igloo.

ADB Ventures

ADB Ventures is the Asian Development Bank’s (ADB) corporate VC fund that invests in impact-tech startups.

Established in: 2020
Location: The Philippines
Overall portfolio count: 40
Notable investments: Euler Motors, Skycatch, and Captain Fresh.

AddVentures

AddVentures is the corporate VC arm of SCG, one of Southeast Asia’s leading Industrial conglomerate established in 1913.

Established in: 2017
Location: Thailand
Overall portfolio count: 19
Notable investments: Bizongo and Validus.

IDG Ventures Vietnam

IDG Ventures Vietnam is the first technology VC fund in Vietnam formed by the International Data Group (IDG).

Established in: 2004
Location: Vietnam
Overall portfolio count: 47

Kyber Ventures

Kyber Ventures is the investment arm of Kyber Group, a Web3-focused group with popular products including a KyberSwap DEX & an all-in-one non-custodial web3 wallet Krystal.

Established in: 2022
Location: Singapore
Overall portfolio count: 35.

zVentures

zVentures is the early-stage venture arm of Razer, a leading lifestyle brand for gamers.

Established in:
Location: Singapore and the US
Overall portfolio count: 27
Notable investments: Animoca Brands and Forte.

Also Read: The upside of conglomerate influence in Thailand’s tech industry

JG Digital Equity Ventures

JG Digital Equity Ventures is the corporate venture capital arm of JG Summit Holdings, one of the Philippines’s biggest conglomerates with business interests in air transportation, banking, food manufacturing, hotels, petrochemicals, power generation, real estate, property development and telecommunications.

Established in: 2019
Location: The Philippines
Overall portfolio count: 10
Notable investments: iPrice

OCBC NISP Ventura

OCBC Ventura is a VC arm of PT Bank OCBC NISP Tbk, part of OCBC group.

Established in: 2019
Location: Indonesia
Overall portfolio count: 12
Notable investments: 99 Group and SIRCLO

ICCP SBI Venture Partners

ICCP SBI Venture Partners is a partnership between two leading Asian VC firms: ICCP Venture Partners and SBI Holdings. ISVP invests in rapidly growing tech companies in the US and Southeast Asia, until Series B.

Established in: 1998
Location: The Philippines, Malaysia, Japan, and the US
Overall portfolio count: 31
Notable investments: PayMongo and Growsari.

PSA Ventures

PSA Ventures (erstwhile PSA unboXed) is the innovation and startup accelerator platform of PSA International.

Established in: 2016
Location: Singapore
Overall portfolio count: 8

Supply Chain Angels

Supply Chain Angels (SCAngels) is the corporate VC arm of YCH Group, Asia Pacific’s leading integrated end-to-end supply chain management and solutions provider, supported by Y3 Technologies.

Established in: 2016
Location: Singapore
Overall portfolio count: 8
Notable investments: TookiTaki.

Far East Ventures

Far East Capital is the family office and investment vehicle of Far East Organization, one of the largest private real-estate developers in Singapore.

Established in: 1982
Location: Singapore
Overall portfolio count: 14.

SPRIM Global Investments

SPRIM Global Investment is a privately held investment company established in 2008 following the global expansion of SPRIM Service business.

Established in: 2008
Location: Singapore and the US.
Overall portfolio count: 16.

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A recent survey by Boston Consulting Group (BCG) sheds light on the complex interplay between artificial intelligence (AI) and workforce dynamics. The findings, outlined in the latest AI Radar report titled From Potential to Profit: Closing the AI Impact Gap, capture the perspectives of 1,803 C-level executives across 19 markets and 12 industries. While AI’s potential is clear, businesses face significant challenges in leveraging it effectively.

One key issue is talent. The report reveals widespread difficulties in hiring AI specialists, such as data scientists and machine learning engineers, as well as non-specialists trained to use AI tools. Although the demand for AI capabilities continues to rise, companies are struggling to build a workforce equipped to meet it.

Upskilling the existing workforce offers a partial solution, and progress in this area is evident. In 2023, only six per cent of companies had more than a quarter of their workforce trained in AI or generative AI tools. By 2024, this figure had climbed to 29 per cent. Singapore and Japan lead these efforts, while Brazil and Italy lag behind. Despite the progress, nearly 70 per cent of companies have trained fewer than one in four employees, underscoring the long road ahead.

Collaboration between human talent and AI remains a focal point for executives. A majority (64 per cent) believe AI should take the lead in specific tasks, with humans providing oversight. Fewer executives (22 per cent) favour a human-first approach, while 14 per cent envision an equal partnership between humans and AI. Notably, less than 10 per cent expect workforce reductions due to AI automation. Instead, most foresee either maintaining or growing their workforce through the addition of new roles and skills.

Also Read: Ecosystem Roundup: eFishery faces fraud allegations | Indonesia’s tech funding hits a 3-year low | iMotorbike raises US$10M

The report also emphasises the importance of aligning people and processes with technology. According to BCG, organisations should follow the “10-20-70” rule, allocating 70 per cent of their efforts to optimising people and processes, 20 per cent to technology, and only 10 per cent to algorithms.

BCG’s findings suggest that realising AI’s potential requires more than technical capability. Companies must prioritise talent acquisition, upskilling, and fostering a workforce capable of collaborating with AI. By addressing these gaps, organisations can bridge the divide between AI’s promise and its practical impact.

How to build AI talent

As AI becomes a critical driver of innovation, businesses are recognising the need to develop talent capable of leveraging its potential. However, many organisations face challenges in workforce preparation, hiring, and integration.

To address these gaps, industry experts highlight several key areas for improvement.

Upskilling and training
Investing in workforce training is essential. Globally, only 29 per cent of companies in 2024 reported that more than a quarter of their employees were trained in AI or generative AI tools. To stay competitive, businesses must increase this figure by equipping their workforce with the skills necessary to use AI effectively. Countries such as Singapore and Japan are leading the way in AI upskilling, offering valuable lessons for others.

Prioritising people and processes
Maximising value from AI requires a shift in focus. The “10-20-70” principle suggests organisations should allocate 70 per cent of their efforts to optimising people and processes, 20 per cent to technology, and 10 per cent to algorithms. Reimagining workflows, fostering a culture of innovation, and aligning incentives are vital steps for integrating AI into existing operations.

Also Read: Singapore aims to lead in AI — but where’s the talent?

Addressing hiring challenges
Finding specialised AI talent remains difficult. Rather than relying solely on external hiring, companies should prioritise upskilling their current workforce and empowering employees with AI tools. This dual approach can mitigate talent shortages while ensuring existing staff contribute to AI initiatives.

Embracing human-centred AI
Executives increasingly view human talent and AI as complementary. While AI is expected to take the lead in certain areas, human oversight remains critical. Most organisations anticipate maintaining or increasing their workforce, with a focus on creating new roles to replace those made redundant by automation.

Strategic leadership
For CEOs, rethinking AI’s potential is paramount. Companies must target transformative opportunities within core functions, define clear KPIs for tracking AI’s impact, and actively lead cultural and organisational change. Anticipating AI’s evolving value and associated risks will also help businesses remain ahead of the curve.

Measuring value creation
Alarmingly, 60 per cent of companies fail to track financial KPIs tied to AI initiatives. This oversight hampers the ability to quantify AI’s contribution to business outcomes. Organisations must integrate clear metrics to ensure AI investments translate into measurable gains.

By prioritising these strategies, businesses can address the talent gap and unlock AI’s transformative potential, positioning themselves for long-term success in an AI-driven future.

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B Capital, a global multi-stage investment firm, has appointed Yan-David (“Yanda”) Erlich as General Partner.

Erlich is an experienced technology and AI investor and a four-time venture-backed founder and CEO. He will be based in San Francisco and help lead B Capital’s technology and AI investments across venture and growth companies.

Erlich was most recently the Chief Operating Officer and Chief Revenue Officer at Weights & Biases, a leading AI developer platform, and prior to Weights & Biases, he served as General Partner at Coatue Management. He also founded and served as the CEO of three other venture-backed startups, including Parsable (acquired by CAI) and ChoiceVendor (acquired by LinkedIn). He started his career in software engineering and product management roles at Google and Microsoft.

Also Read: B Capital believes in startups, corporates collaboration to bring decarbonisation efforts forward

Raj Ganguly, co-founder and co-CEO of B Capital, said: “Our goal is to continue investing at the forefront of new technologies and partnering with transformative founders to help their businesses grow. Yanda is a proven founder who understands what it takes to build revolutionary businesses and will be an incredible partner to the companies he backs.”

“As a former AI founder and operator, I have seen firsthand the impact a value-added investor like B Capital can have on a startup’s growth trajectory,” Erlich said. “B Capital brings a combination of deep operational expertise, a strategic partnership with BCG and a wide network of relationships across the technology industry. I believe the firm is the ideal partner to help the next generation of AI and technology businesses scale and thrive, and I am excited to join the team.”

“AI is not just reshaping industries; it’s redefining the future of business on a global scale. With our international presence and cross-sector expertise, B Capital is uniquely positioned to identify and support AI innovations that have the power to transform markets worldwide,” said Eduardo Saverin, co-founder and co-CEO of B Capital. “To fully leverage this seismic shift, we need visionary leaders who can uncover and cultivate the most innovative opportunities in the market. Yanda’s addition enhances our ability to bridge the gap between cutting-edge AI technologies and their real-world applications across diverse industries and geographies.”

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Singapore is home to various tech startups, many of which have become highly successful. A Statista study shows that out of the 4,000 registered startups in the country, 20 achieved unicorn status — six of which operate within the communication and technology sector.

These statistics indicate that Singapore is enabling a robust environment for new business and is nurturing a startup culture. Nonetheless, enterprises will inevitably face significant challenges in their early stages. This is where the provision of mentoring can have an immensely positive impact.

Taking advantage of mentoring opportunities

Based on my personal experience working with The Abu Dhabi Early Childhood Authority (ECA), it is clear that taking advantage of mentoring opportunities enables startups to stay competitive and gain crucial industry and local knowledge that allows them to inspire true and lasting social change.

A capable and seasoned mentor can offer entrepreneurs crucial advice, support, and expertise, acting as a sounding board based on their own experiences. Such intimate and insightful conversations will enable entrepreneurs to sharpen their ideas, improve their decisions and streamline their operations, maximising the likelihood of success. Recognising these benefits, many successful companies are utilising mentorship to achieve the best possible results.

Furthermore, from a government perspective, providing mentoring programs and promoting participation in them can significantly boost a country’s business environment leading to improved levels of innovation and decreased unemployment.

Also Read: Velocity Ventures launches programme to connect corporates with startups for co-investment opportunities

Startups in the technology industry are motivated by the desire to solve issues in novel ways. Such technologies can fundamentally transform how businesses and perhaps entire nations approach problems and find long-term solutions. Because I can see the benefits it brings to both parties, I am passionate about fostering government partnerships with entrepreneurs through mentoring programs.

Local and federal governments now realise the importance of collaborating with startups early on and supporting them in several ways. This includes the provision of mentorship programs. By working together with mentors, governments and startups can both benefit — the startups succeed by providing solutions to societal challenges that governments are looking to tackle.

Furthermore, improving the access and users of mentorship will help to encourage the next generation of entrepreneurial talent, resulting in a better entrepreneurial culture both globally and within Singapore. The World Economic Forum, for instance, found that government initiatives promoting networking and cooperation through incubator programs encourage more entrepreneurship.

Mentorship initiatives have aided startups

My experience in Abu Dhabi has shown that numerous government organisations have and still offer mentorship opportunities to the tech sector in various fields. We take this action because we understand the importance of the solutions that these businesses are creating and how using these technologies will help the government to be better informed and equipped to address social problems.

Programs can be created that enable entrepreneurs to develop the skills necessary to not only learn from business leaders and build a supportive community but to excel in their endeavours. Startups can benefit immensely from these mentorship possibilities.

According to my personal experience, mentorship initiatives have aided startups in their efforts to comprehend the local culture in which they operate and the larger ecosystem of which they are a part. Additionally, coaching is offered by experienced individuals on various crucial issues, such as locating product markets, developing marketing plans and managing finances.

To create meaningful social change, we need such programs to help innovative startups grow and develop more swiftly and successfully. Through successful partnerships in the form of mentorship, governments and startups can join efforts to influence social change and address some of the most obvious problems confronting society.

Within the early childhood development sector, for example, the growing amount of time young children are spending in front of screens is a significant and pervasive topic of concern for parents, educators and medical professionals.

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

In conjunction with New York University Abu Dhabi (NYUAD), the ECA analysed how COVID-19 was affecting children and families throughout the pandemic. This study clearly shows that children between the ages of zero and three have been using screens significantly more often. Many parents worldwide are worried about the impact of screens on their children.

A 2023 National University of Singapore report highlighted that 80 per cent of respondents were concerned about their child’s screen addiction, poor sleep and access to inappropriate content. While 70 per cent were worried about the lack of interaction with their child, 60 per cent were concerned about eyesight and a lack of physical activity. This is one area where collaboration between governmental agencies and tech entrepreneurs can result in advancement.

Governments have the chance to mentor entrepreneurs to assist them in creating technologies that can alleviate such concerns, as there is a lot of potentials to use technology to promote a child’s growth and well-being.

Progress can be made much more quickly and successfully by collaborating with well-known business figures, medical experts, and specialists in early childhood development and by giving them roles within startups developing the technology needed to address these problems. The driving force behind this entire relationship is effective mentoring.

AI-powered tutoring and mentoring

The rise of AI-powered Large Language Model (LLM) tools like ChatGPT also presents new mentorship possibilities. Mentorees can ask questions, request advice and receive feedback clearly, instantaneously, and at no cost.

Also Read: Is ChatGPT a great invention or is it being ‘hyped’

ChatGPT is revolutionising the way AI-powered tutoring and mentoring are done by using natural language processing and machine learning to provide a more personalised and interactive experience for mentees and mentors.

ChatGPT is designed to help them connect and engage in a more meaningful way as it uses a conversational interface to facilitate real-time conversations between the two parties. This helps to create a more natural and interactive experience, allowing for a more effective exchange of information. Additionally, governments are using AI-based matchmaking platforms to connect startups with the right mentors to seek advice and support for scaling their businesses, of course with precaution.

A supportive ecosystem that develops and grows companies enabling them to attain their full potential, can be created by effective mentorship that offers industry expertise and integrates extensive personal experience.

Although the journey won’t be without its challenges, entrepreneurs can get through them if they have an experienced shoulder to depend on. The value of direction and advice from a company’s start onwards will motivate success.

Today’s rising entrepreneurs will soon transform into the successful mentors of tomorrow, thanks to the cyclical nature of this accomplishment.

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This article was first published on June 12, 2023

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Education is one of the world’s most competitive sectors, with institutions investing up to billions of dollars in attracting students. Faced with rigorous growth targets and a shrinking pool of potential students, education marketers are spending a staggering US$2000 per student in customer acquisition cost (CAC) – one of the highest in the world. And now, unsurprisingly, the sector’s digital advertising investments have become a huge target for advertising fraudsters.

Since the very beginnings of digital ad buying, brands have been beset by scores of bots and fake traffic that syphon marketing dollars from online campaigns. As one of the industry’s endemic – and costly problems, advertising fraud is expected to cost around US$100 billion in 2023.

Today, it’s estimated that 20 per cent of ad transactions come from fraudulent sources. As such, education marketers find themselves in an increasingly Sisyphean position. Generating growth requires investment; but the more advertisers invest in digital campaigns, the more fraudsters strike.

Lifetime value

Today, universities operate as multimillion-pound businesses with huge international footprints, complex operations and rigorous growth targets. 

Also Read: How Noodle Factory addresses educator burnout with its AI-powered teaching assistants

Unfortunately, however, student enrollment numbers are dwindling, both in the Northern Hemisphere and across Asia. Added to declining enrollment numbers is heightened competition between institutions for a shrinking pool of candidates.

Thus, for student acquisition teams to meet their significant enrollment targets, a hefty paid media budget is required, which needs to work overtime.

In education and ed-tech marketing, common keywords such as ‘MBA programs’, ‘Business Schools’ and ‘Online MFA’ flood the search engines, costing an average of US$50 per click. Such a high cost-per-click (CPC) is understandable given that the lifetime value of a single student can be in the tens of thousands.

University marketers and recruiters naturally expect their investment to be well-recouped over the course of a student’s attendance. However, that return is increasingly under threat due to ad fraud. 

No real value

Keywords related to education have a significant attraction to returning users or students who are searching for specific educational tools or portals using the institution’s name. These clicks can eat up a considerable portion of the ad budget, leaving limited resources to reach out to new prospective students.

This situation can be challenging in the highly competitive higher education sector, where success metrics can become skewed due to the false sense of engagement caused by a flood of clicks from returning users or students. Such invalid traffic offers no real value to the advertiser, limiting their reach to potential new candidates.

Education marketing is a long-term game and one in which fraudsters have learned to cheat. Students spend up to years researching and choosing an education option, meaning marketers need to work with a long sales cycle and multiple digital touchpoints.

To stay level, marketers will often turn to pay-per-click retargeting campaigns that enable their institutions to reconnect with learners who revisit their websites to research and inquire. However, unfortunately, fraudulent activity can quickly deplete retargeting budgets, meaning up to 30 per cent of an ad budget may end up retargeting bots instead of actual students.

Education institutions are not the only brands at risk. From content delivery to remote tuition platforms and exam software, there are thousands of apps in the education sector vying for downloads from students and teachers. Marketers for these apps are also throwing money at driving application downloads, which in turn are targets for ad fraud. 

Also Read: How hybrid learning is revolutionising the landscape of education

Large volumes of invalid traffic can lure marketers into directing their spending towards traffic sources that may seem promising but are in fact non-opportunities. Ultimately, this can result in wasted time, effort, and budget on sources that will yield no ROI. Fraudsters not only drain education establishments and app developers of their advertising dollars but also their high-pressured resources. 

Tools, trust and transparency

Marketers have so far been slow to react to ad fraud threats. In part, this stems from poor awareness, but it is also due to Google and Apple’s impending changes to cross-site tracking. As these tracking tools face obsoletion, marketers may see little point in investing in the current tech available. 

As such, many are still to adopt third-party tools or are monitoring campaigns and metrics, plus implementing correct internal procedures. However, these measures can make a significant difference. Indeed, advanced artificial intelligence tools saved as much as US$10 billion from being diverted to fraudsters last year. 

However, technology and tools alone cannot completely solve the problem of ad fraud. Instead, education marketers need to be fully aware of the digital advertising supply chain – and that requires more trust and transparency.

Ignoring ad fraud and hoping it simply goes away is also not an option. If left undetected, marketers stand to lose millions of dollars without even realising it. To succeed in a competitive industry like education, marketers must take immediate action and implement effective measures against ad fraud. Otherwise, it will be a hard lesson for them to learn.

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This article was first published on May 8, 2023

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The rapid evolution of artificial intelligence (AI) is transforming industries, and product management is no exception. AI has shifted from being a mere tool to becoming a strategic partner, fundamentally reshaping how products are designed, built, and delivered. With advancements in quantum computing, reasoning capabilities, and the potential advent of Artificial General Intelligence (AGI), the role of product managers is undergoing a profound transformation.

Advancements in AI technology

The AI landscape has evolved dramatically, progressing from basic algorithms to sophisticated systems capable of learning, adapting, and reasoning. Machine learning (ML) and natural language processing (NLP) are enabling AI to analyse massive datasets, extract insights, and make predictions with unprecedented accuracy. For product managers, this means access to real-time user behaviour analysis, market trends, and performance metrics that drive informed decision-making.

For example, AI-powered tools can now predict customer churn, optimise pricing strategies, and even suggest features that align with user needs. Platforms like OpenAI’s GPT models have also made it possible for product managers to generate ideas, create content, and refine product strategies faster and more effectively than ever before.

Quantum computing and AI in product management

Quantum computing is set to accelerate AI’s capabilities by solving complex problems at speeds unattainable by classical computers. While still in its nascent stages, quantum computing has significant implications for product management. For instance, quantum-enhanced AI could revolutionise optimisation tasks, such as supply chain logistics, resource allocation, or feature prioritisation in product development.

Imagine a scenario where a quantum-enabled AI system helps a product manager simulate multiple product roadmaps simultaneously, taking into account a myriad of variables such as user behaviour, competitor actions, and resource constraints. This level of computational power could reduce decision-making cycles from weeks to minutes, empowering product teams to stay ahead in hyper-competitive markets.

Also Read: The economic potential of neo-retail: The next productivity frontier

AI’s ability to reason

One of the most groundbreaking advancements in AI is its evolving ability to reason. Traditional AI systems operate based on predefined rules or patterns learned from data, but modern AI models are beginning to exhibit reasoning capabilities. These systems can simulate human-like decision-making processes, assess the context, and adapt their outputs accordingly.

For product managers, reasoning AI opens up new possibilities. It allows for more nuanced and dynamic interactions with customers and stakeholders. For instance, an AI system embedded within a product can understand the intent behind user actions and offer personalised solutions in real-time. This capability not only enhances user experience but also provides product managers with valuable insights into user preferences and pain points.

Additionally, reasoning AI can act as a co-pilot for product managers during strategic planning. It can identify potential pitfalls in product strategies, suggest alternative approaches, and even simulate the outcomes of various decisions, reducing risks and improving success rates.

The future with AGI capabilities

Artificial General Intelligence (AGI) represents the next frontier of AI, where machines possess human-like intelligence and the ability to perform a wide range of tasks across different domains. While AGI is still hypothetical, its implications for product management are profound.

AGI-powered systems could autonomously handle complex aspects of product development, from ideation to deployment. Imagine an AGI that can:

• Conduct comprehensive market research in hours rather than weeks.
• Design and prototype products autonomously based on user feedback and industry trends.
• Monitor product performance and implement iterative improvements without human intervention.

AGI could also enable hyper-personalisation, where products evolve dynamically based on individual user needs and behaviours. For product managers, this means a shift from micromanaging tasks to overseeing high-level strategy and innovation. The role may evolve to focus more on ethics, governance, and ensuring that AGI aligns with organisational and societal values.

Transforming product management processes

AI’s integration into product management is streamlining processes across the board:

• Ideation and market research: AI-driven tools like chatbots and analytics platforms can gather user insights, identify gaps in the market, and even suggest product ideas. These tools reduce the time spent on manual research and ensure data-driven decision-making.
• Roadmap planning: AI can analyse historical data, user feedback, and market trends to help product managers prioritize features and plan product roadmaps. Tools like Jira and Aha! are already incorporating AI to enhance these processes.
• Design and development: Generative AI models, such as DALL-E and Codex, enable rapid prototyping and even assist in writing code. This accelerates the development cycle, allowing teams to test and iterate faster.
• User experience and feedback: AI systems can analyse user interactions to provide real-time feedback. For example, heatmaps generated by AI can reveal which parts of an interface users find most engaging or confusing, helping designers make informed improvements.
• Performance monitoring: AI-powered analytics platforms can track product performance metrics continuously, providing actionable insights to product managers. These platforms can also predict potential issues before they escalate, enabling proactive management.

Also Read: Balancing innovation and regulation: The rise of AI in APAC’s fintech sector

Challenges and ethical considerations

While AI offers immense potential, it also presents challenges, especially as we approach Artificial General Intelligence (AGI). Ethical concerns around data privacy, bias, and decision transparency must be addressed. Product managers will need to ensure that AI systems are designed and deployed responsibly, balancing innovation with ethical considerations.

Moreover, as AI takes over routine tasks, the human aspect of product management—empathy, creativity, and leadership—will become even more critical. Product managers will play a key role in ensuring that AI technologies are not only efficient but also aligned with user needs and societal values.

The road ahead

AI is not just a tool for product managers; it’s a transformative force reshaping the domain. With advancements in quantum computing, reasoning AI, and the potential of AGI, the future of product management looks both exciting and challenging. As AI continues to evolve, product managers will need to adapt, embracing new technologies while upholding the human-centred principles that drive innovation.

In this AI-driven era, the role of a product manager will transcend traditional boundaries. It will require a blend of technical expertise, strategic thinking, and ethical stewardship to harness the full potential of AI. By doing so, product managers won’t just create better products—they’ll shape the future of technology and its impact on society.

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As the fintech industry continues its rapid evolution, South Africa is emerging as a hub for innovation and a promising investment destination for Southeast Asian markets. This burgeoning partnership between regions, poised at the forefront of a new era in fintech, opens the door to groundbreaking cross-continental collaboration, uniting Southeast Asia’s fintech expertise with South Africa’s potential for digital transformation.

A growing market with untapped potential

South Africa’s fintech landscape is a rich ground for innovation, with an estimated 19 million unbanked individuals and a significant portion of the population underutilising financial services. While over 80 per cent of adults have access to banking, only 30 per cent engage in regular transactions. This gap represents an immense opportunity for disruption through digital payment solutions.

Various companies are addressing these challenges by providing a secure, user-friendly platform that bridges traditional banking and emerging technologies like blockchain and cryptocurrency. This approach aims to empower underserved communities and facilitate digital transactions, setting a new standard for financial inclusion.

A conducive environment for growth

South Africa’s regulatory framework is uniquely positioned to support fintech innovation. The South African Reserve Bank (SARB) and initiatives like the Intergovernmental fintech Working Group (IFWG) foster an environment that balances innovation with consumer protection.

Fintech companies in South Africa have adopted a collaborative approach, working alongside traditional banks and tech giants to expand accessibility. For instance, Capitec Bank’s CapitecPay has seen remarkable adoption, demonstrating how innovation and collaboration can drive financial inclusion.

As South Africa’s coolest bank, according to the Sunday Times NextGen awards, Capitec Bank saw an increase in digital innovations that make banking simpler and more intuitive as the key driver, with a 27 per cent increase to 791 million in digital transaction volumes from Mar 2022 to Aug 2022.

This year Capitec Bank started integrating with Copilot for Power BI, exploring Copilot Studio, and graduating with Azure OpenAI. It streamlined several processes across various departments in the bank. With Copilot and Azure OpenAI Service, Capitec’s employees save one hour per week, enhancing efficiency and driving innovation across departments.

Also Read: 2024 fintech highlights: The startups dominating Southeast Asia’s financial landscape

Unlocking Southeast Asia’s potential

Southeast Asia, with its fintech powerhouses like Singapore, Indonesia, and Malaysia, has much to offer South Africa. Specifically, Singapore’s advanced digital payment systems and regulatory frameworks, can offer South Africa invaluable lessons in promoting secure and efficient transaction methods. Indonesia’s success in mobile financial services and inclusive banking practices can serve as a blueprint for enhancing financial access in South Africa.

Malaysia’s regulatory innovations in fintech, particularly in areas such as peer-to-peer lending and crowdfunding, can inspire South Africa to streamline its regulatory processes and foster a conducive environment for fintech startups. By investing in South Africa’s digital transformation, Southeast Asian investors can tap into a market primed for growth while sharing valuable expertise in financial inclusion.

The rise of Buy Now, Pay Later (BNPL) services in South Africa highlights the growing demand for flexible payment options. Services like BOS.Pay integrates such innovations, ensuring businesses stay competitive while meeting the evolving needs of consumers. This enhanced consumer experience not only aligns with current market trends but also positions businesses at a competitive advantage, offering tailored payment options to customers.

Moreover, the adoption of BNPL services plays a crucial role in fostering financial inclusion by providing individuals with limited access to traditional credit avenues the opportunity to make purchases and manage their finances in a more inclusive and user-friendly manner.

Overcoming challenges together

While opportunities abound, challenges remain. Regulatory complexities, technological disparities, and cultural differences require a nuanced approach to collaboration. Many fintech firms are well-positioned to navigate these obstacles, offering adaptable solutions that resonate with diverse markets.

A vision for global financial inclusion

The partnership between Southeast Asia’s investment acumen and South Africa’s fintech ingenuity holds immense promise. Together, these regions can unlock new levels of financial accessibility, driving digital transformation and fostering inclusive growth.

Through collaborative efforts, shared challenges can be transformed into opportunities, reshaping the landscape of fintech innovation and advancing the vision of global financial inclusion.

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FazWaz, a proptech company based in Thailand, has picked a controlling stake in Lifull Connect, a leading real estate aggregation network headquartered in Japan.

This strategic move comes after Lifull Connect’s acquisition of FazWaz in 2023.

With Lifull retaining a key shareholder position, this transition marks a significant step for both organisations.

Michael Kenner, Managing Director of Lifull Connect, stated, “Capitalising on Lifull Connect’s global infrastructure and our entrepreneurial spirit, we are strategically focused on M&A and raising new capital to drive unprecedented growth. This transition is the perfect platform for achieving our vision of becoming the world’s leading PropTech company.”

Lifull Connect was established in 2019 through the merger of Trovit and Mitula, previously listed on the ASX, and has since grown into the largest aggregation network in real estate. Over the years, the company has evolved from offering aggregation services to direct engagement with property markets, serving hundreds of millions of users globally.

Also Read: FazWaz raises funding to globalise real estate e-transactions

Lifull Connect’s operations are structured across three key regions: Southeast Asia, Europe, and Latin America. In Southeast Asia, the focus is on growth through transactional platforms and property portals. Europe will continue to benefit from Lifull Connect’s established leadership in real estate aggregation. And in Latin America, the company will expand portal-driven solutions in high-growth markets.

Lifull, one of Japan’s leading proptech companies, will remain a key shareholder supporting Lifull Connect’s global mission. The transition was celebrated at Lifull’s headquarters in Japan, with both companies’ leaders reflecting on Lifull Connect’s journey.

The company is now set to accelerate its expansion through strategic mergers and acquisitions and new capital investments.

FazWaz is a real estate platform that provides brokerage services to make buying, selling, or renting a property easy. The company’s vision is to make buying a property as simple as booking a holiday.

In 2020, FazWaz raised an undisclosed amount of investment in an acceleration funding round led by CAV Investment Group, an investment company for Simon Baker, ex-CEO REA Australia and ex-Chairman of Mitula.

Both FazWaz and Lifull Connect are committed to using technology, including Artificial Intelligence, to enhance the real estate experience globally.

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Indonesia’s tech startup ecosystem experienced a significant downturn in funding during 2024, according to the ‘Indonesia Tech Annual Report 2024’ released by the startup data intelligence platform Tracxn.

The total amount raised was US$323 million, a 75 per cent drop from the US$1.3 billion raised in 2023 and a staggering 90.05 per cent decrease from the US$3.24 billion raised in 2022.

This decline indicates a challenging year for the Indonesian tech sector, with funding drying up across all stages of investment.

VC funding trends

The report highlights a consistent decline in funding across all stages:

• Late-stage funding saw the most dramatic drop, with only US$71.2 million raised in 2024. This is a 91.95 per cent decrease compared to US$884 million in 2023 and a 95.84 per cent decrease compared to US$1.71 billion in 2022.
• Seed-stage funding also experienced a sharp fall, with a total of US$30.3 million in 2024. This represents a 61.54 per cent decrease compared to US$78.8 million in 2023 and an 85.57 per cent drop compared to US$210 million in 2022.
• Early-stage funding fared slightly better but still declined to US$221 million in 2024. This is a 32.18 per cent decrease from US$326 million in 2023 and an 83.24 per cent drop compared to US$1.32 billion in 2022.

Looking at the funding trends in the second half of 2024 (H2 2024), the total of US$107 million was 50.39 per cent lower than the US$215.7 million raised in the first half of 2024 (H1). This also represents an 86.07 per cent drop from US$768.3 million raised in H2 2023.

Also Read: SEA fintech sector faces 23% funding drop in 2024; payments and crypto shine

The fourth quarter of 2024 (Q4) saw a slight increase of 1.89 per cent with US$54 million compared to US$53 million in Q3 2024 but is still 81.36 per cent lower compared to the US$289.8 million raised in Q4 2023. These figures highlight a continuous downward trend in funding for the Indonesian tech sector throughout 2024.

Sector-wise performance

Despite the overall downturn, some sectors performed better than others in attracting investment in Indonesia:

Fintech, enterprise applications, and insurtech were the top-performing sectors in 2024.

• Fintech received US$189.5 million in funding, which is still a significant decrease of 68.45 per cent compared to US$600.5 million in 2023 and a drop of 89.27 per cent compared to US$1.8 billion in 2022.
• Enterprise applications secured US$94.6 million in 2024, a 32.65 per cent decrease compared to US$140.5 million in 2023 and a 90.83 per cent drop compared to US$1 billion in 2022.
• Insurtech stood out with a 431.58 per cent increase in funding to US$50.5 million in 2024, compared to US$9.5 million in 2023, although this was still a 28.39 per cent drop compared to US$70.5 million in 2022.

IPOs and exits

The report reveals a decline in exit activity as well:

Only one company, Topindoku, went public in 2024, raising US$34.9 million.

There were no new unicorns created in 2024 compared to one in 2023.

Tech companies in Indonesia saw nine acquisitions in 2024, a 25 per cent decrease from 12 in 2023 and a 55 per cent decrease from 20 in 2022.

Key acquisitions include IDEAL, RajaOngkir, and Gredu.

The average funding raised before the IPO was only US$6 million, a significant drop from US$514 million in 2023.

Year-on-year funding trends

The overall funding trend shows a sharp decline:

The compound annual growth rate (CAGR) for funding over the past three years is -54 per cent and over the past five years is -32 per cent. The number of funding rounds also decreased, from 58 in 2024 to 97 in 2023, a 40 per cent drop.

First-time funded companies also declined to 24 in 2024 from 34 in 2023, representing a 29 per cent decrease.

Series A+ rounds dropped from 48 in 2023 to 29 in 2024, a decline of 39 per cent.

City-wise funding trends

Also Read: 2024 fintech highlights: The startups dominating Southeast Asia’s financial landscape

Funding is heavily concentrated in Jakarta, which accounts for 85.36 per cent of all funding in Indonesia:

• Jakarta received the lion’s share of funding with US$275 million in 2024.
• Klaten was a distant second with US$20 million, followed by Cilandak with US$17.5 million.
• Other cities, such as Yogyakarta (US$3.5 million) and Bandung (US$2.5 million) received significantly less funding.
• Jakarta also dominates in cumulative funding with US$22.9 billion, with Tangerang at a distant second with US$1 billion in all-time funding.

Top investors

The report identifies key investors in the Indonesian tech ecosystem:

• East Ventures, AC Ventures, and Alpha JWC Ventures were the overall top investors.
• Antler, 500 Global, and East Ventures were the top seed-stage investors.
• Argor Capital Management, Openspace Ventures, and MUFG Innovation Partners were the top early-stage investors.

Among VCs, East Ventures led the most number of investments with five rounds, while 500 Global added 24 new companies to its portfolio.

Conclusion

The Indonesian tech startup ecosystem faced considerable challenges in 2024, with a significant decrease in funding across all stages and a decline in exits. While some sectors, like insurtech, showed positive growth, the overall trend indicates a period of adjustment for the market. The concentration of funding in Jakarta remains prominent, highlighting the need for broader regional development in the tech sector. The lack of new unicorns and a decrease in acquisition activities reflect the difficult conditions Indonesian tech companies face.

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