Vietnam’s e-commerce market is entering a new chapter–one defined less by discounts and more by dependability.

Milieu Insight’s latest survey underscores a striking behavioural shift: while affordability still matters, Vietnamese consumers are prioritising consistent service, reliable delivery, and clear accountability. In a market that has just crossed the US$25 billion mark, this pivot is significant.

The data reveals a rising middle class that is no longer satisfied with bargain hunting alone. Shoppers want platforms to take ownership of the entire experience, from accurate product listings to last-mile logistics.

A resounding 90 per cent expect platforms–not couriers–to enforce delivery standards, signalling that passing blame will no longer fly. Reliability now outranks low fees, and 70 per cent of shoppers say they are willing to pay more for sellers who deliver on time.

This evolution is reshaping the competitive equation for Southeast Asia’s e-commerce sector. Transparency, trust, and seamless service are emerging as the true differentiators, challenging incumbents and opening doors for challengers who can meet these expectations.

For startups and established players alike, the message is clear: in Vietnam, the race is no longer to the cheapest, but to the most reliable.

REGIONAL

Southeast Asia startup capital falls 21 per cent, lowest in over six years
Investor caution was particularly pronounced in early-stage funding | Transactions up to Series B declined to 219, the lowest level in six years, with proceeds falling to US$1.1B–a mere fraction of the H1 2022 peak of US$4.54B | This trend reflects a heightened emphasis on capital efficiency and profitability over rapid expansion for younger companies.

Germany logistic tech firm Rhenus to invest US$20M in Philippines
The Germany-based logistics provider will open a new head office in Pasay, consolidating its air and ocean freight, warehousing, and shared service operations | The facility spans nearly 1,000 sqm and is located near major transport routes and business districts.

Accion Ventures closes US$61.6M fund to back inclusive fintech startups across emerging markets
The fund secured backing from Dutch bank FMO, Proparco, the Ford Foundation, MetLife Asset Management, Mastercard, and ImpactAssets | Accion targets startups that leverage next-gen technologies—including embedded finance, alternative data, and Generative AI—to create accessible financial solutions.

Tevo secures seed funding, strikes partnership with Vietnam’s MobiFone
The Tevo-MobiFone collaboration aims to jointly introduce mobile applications to global markets, with the short drama application, Dramini, being their inaugural joint venture.

Siam Validus taps NCB to accelerate SME credit access in Thailand
Becoming an NCB member will enable Siam Validus to access credit bureau reports in real-time with SME consent, drastically reducing current turnaround times from two weeks to almost instantly | Crucially, the platform will also be able to report SME exposures and payment records back into the national system.

REPORTS,FEATURES & INTERVIEWS

As Vietnam’s e-commerce market surpasses US$25B, shoppers are no longer satisfied with low prices alone
A fresh analysis by consumer research firm Milieu Insight finds that Vietnamese shoppers are increasingly driven by product variety (52 per cent) and emerging features such as livestream shopping (50 per cent) and AI-based recommendations (32 per cent).

From Bain to Bluente: Daphne Tay’s mission to fix the “last mile” of translation
Bluente is an AI-powered translation platform designed to solve that last-mile pain point | Its one-click engine translates to and from more than 120 languages while preserving exact formatting (text, images, numbers, tables, and units) across contracts, PDFs, and PowerPoints.

INTERNATIONAL

Global EV sales rise 15 per cent in August: report
This marks the slowest growth rate since January, with the slowdown mainly due to tougher comparisons from last year | Sales in China, which accounts for over half of global EV sales, increased 6 per cent in August after averaging 36 per cent monthly growth in the first half of the year.

OpenAI, Microsoft agree on restructure with US$100B nonprofit stake
OpenAI, which began as a nonprofit, plans to form a public benefit corporation controlled by the existing nonprofit, according to chairman Bret Taylor | The nonprofit is set to hold at least a US$100B stake in the new entity, a figure that could rise, according to a person familiar with the matter.

S Korea targets mass production of humanoid robots by 2029
A new alliance has been formed that brings together major firms including Hyundai, LG, Samsung, and Posco Group to promote AI adoption in manufacturing | The alliance will oversee ten areas, including AI factories, AI manufacturing services, self-driving cars, humanoid robots, autonomous ships, AI home appliances, AI defense products, AI-powered facilities for the biopharmaceutical industry, and AI chips.

Indian online gaming firm Zupee lays off 170 employees
The online gaming company is restructuring operations after the enactment of the Promotion and Regulation of Online Gaming Act, 2025 | Zupee is among several firms that have shut down real-money gaming services due to the new regulation.

Alibaba launches Qwen3-Next AI model, ten times cheaper to train
The company also said the model’s performance matches its larger flagship Qwen3-235B-A22B model and is optimised for use on consumer-grade hardware | Alibaba has made the model’s code available on platforms including GitHub and Hugging Face, allowing third-party developers to use, modify, and distribute it.

Ant Group debuts R1 humanoid robot
The robot was demonstrated cooking shrimp at Berlin’s IFA 2025 event, and later appeared at the Inclusion Conference in Shanghai | The company said potential uses for R1 include kitchen assistance, healthcare support, and tour guiding.

SEMICONDUCTOR

South Korea unveils US$108B fund for AI, robotics, chips
The fund, called the Public Growth Fund, increases the government’s earlier proposal of US$72B | It aims to support sectors including semiconductors, secondary batteries, biotechnology, energy, hydrogen, defense, vaccines, and robotics over the next five years.

OpenAI, Nvidia to invest billions in UK data centres
The companies are reportedly working with London-based data centre operator Nscale Global Holdings, with OpenAI preparing to spend billions of dollars as part of the plan | That site is designed to host up to 45,000 Nvidia GB200 super chips for AI workloads, though no customers were named | Nscale’s Loughton facility can host up to 45,000 Nvidia GB200 super chips for AI workloads, though no customers were named.

Alibaba, Baidu start using own chips to train AI models: sources
Alibaba has deployed its in-house chips for smaller AI models since early 2025, while Baidu is testing its Kunlun P800 chip for training new versions of its Ernie AI model | The shift comes as US export controls limit Chinese access to advanced AI chips, prompting local firms to increase development of domestic alternatives.

Nvidia to launch new AI chip for video, software creation
Rubin CPX will be available as cards for integration into existing servers or as standalone units for data centres | The company said the chip is intended to improve efficiency in tasks like video generation and software creation by separating the process of understanding input from generating responses.

AI

Singaporeans embrace AI convenience but still demand the human touch: Sinch
While 45 per cent of Singaporean respondents said they would use AI-powered customer support if backed by credible brand information, only four per cent would choose AI or chatbots as their first choice for resolving issues—underscoring ongoing concerns around privacy and accuracy.

Singaporeans are wary of trusting AI with financial or mental health advice: Report
A fieldwork, conducted in June with 1,000 respondents aged 16 and above, underscores how quickly AI has permeated Singaporean lifestyles | Younger people, particularly those aged 16 to 24, are leading the charge: 40 per cent report regular use, and half of that group say they employ AI for creative tasks such as writing or image generation.

From smart rings to health coaching: AI and the new preventive healthcare paradigm
Modern wearables keep a constant finger on the pulse of our well-being. Unlike an annual check-up or occasional lab test, a smart ring or smartwatch can monitor your body 24/7 and alert you to subtler changes.

AI, authenticity and the future of founder storytelling
The most successful founders are those who know how to strike the right balance between delivering efficient content while ensuring it is authentic, credible and most importantly relatable to your audience | At the end of the day you need to remember who is seeing your content in the first place.

Singapore’s AI revolution and how SMEs can win in a high-risk landscape
The prevailing cause of AI failure is not technology but execution | Many companies treat AI as plug-and-play magic, expecting flawless results from initial pilots or demos | However, real business environments are complex: inconsistent data, shifting metrics, and operational exceptions challenge AI models.

Navigate in a cookie-less world, leverage AI and think community-first
Product-led communities are a business already; they’re created as organisations with a purpose and culture | These communities also happen to be one of the most effective forms of marketing and help businesses achieve their goals | Therefore, product-led community managers approach community building with strategies to build this synergy.

From bits to atoms: How AI is shaping Southeast Asia’s food future
AI can analyse millions of data points across reviews, social media posts, and even call centre transcripts, in multiple languages and dialects, with cultural nuance intact | Instead of just asking what consumers want, AI makes it easier to uncover the why behind their choices.

THOUGHT LEADERSHIP

From pilot to scale: Why traditional VC metrics don’t work for climate deep tech
Raising money for deep tech isn’t about selling upside; it’s about de-risking, layer by layer, milestone by milestone | Successful founders understand they must systematically peel the “risk onion” for investors: from technical feasibility to product functionality, market readiness to team execution.

How does audience intelligence help startups make informed decisions?
By dedicating time and resources to understanding their target market, validating business ideas, identifying and analysing competition, and spotting emerging trends, startups can make strategic decisions that foster growth and profitability.

Why community building has replaced lean startup approach to lurk investors?
Over the past few years, changing dynamics of audience engagement and go-to-market strategy have led to incredible results for product-led businesses that engage actively in community building | Audience and community are two different things, many organisations are realising the difference post-pandemic.

What makes a great customer experience?
A lot of customers now consider companies’ level of environmental sustainability and morals in their purchasing decisions | An Aflac research supports this by showing almost eight out of 10 of consumers believe companies that stay true to their ethics/values outperform others in their field.

The Fed, tariffs, and digital assets: What investors are watching
The current market environment demonstrates a remarkable capacity for adaptation in the face of adversity | Equities reaching records despite downward data revisions and tariff escalations point to a collective bet on central bank support and economic resilience.

Why startups need mobile apps to thrive in today’s competitive market
As many people have traded in their home computers and laptops for smartphones and tablets, websites have taken a backseat to mobile applications in recent years | Therefore, for a startup in today’s society, it makes sense to harness that energy on building a good app for their business.

SEA startups are bleeding talent: Here’s how AI can stem the flow
AI won’t replace your employees ,but bad leadership might | The startups that survive this era won’t be those that chase the latest tools, but those that retain, retrain, and re-skill their people — building companies where AI and humans grow stronger together.

The fintech ‘Wild West’ in SEA is over and maybe that’s a good thing
Fintech app penetration has seen a multifold increase over the last five years or so, led by the Philippines and Indonesia | Digital payments, a cornerstone of the region’s fintech success, continue to surge. These aren’t just random highlights | They represent a fundamental rewiring of how individuals and businesses in the region interact with money.

The post Ecosystem Roundup: Vietnam’s e-commerce hits US$25B as shoppers demand more | SEA startup capital sinks 21% | Korea launches US$108B fund for AI, chips appeared first on e27.

As the calendar flips to September 12, 2025, financial markets around the world hum with a mix of optimism and caution, driven by recent economic data that has solidified expectations for the Federal Reserve’s upcoming policy moves.

Global risk sentiment remains broadly positive, with Asian equities edging close to all-time highs in early trading sessions, buoyed by encouraging signals from US inflation figures and labour market indicators. Hong Kong and mainland Chinese markets have taken the lead in this upward push, reflecting renewed investor confidence amid hopes for monetary easing.

Meanwhile, US stock futures point to a flat opening, suggesting a pause after the previous day’s gains, where the S&P 500 climbed 0.9 per cent, the Nasdaq advanced 0.7 per cent, and the Dow Jones surged 1.4 per cent. This rally in US equities stems largely from growing anticipation that the Fed will deliver an interest rate cut at its September 17 meeting. This move could inject fresh liquidity into risk assets and extend the current uptrend.

Looking into the latest US economic releases, the August consumer price index revealed a nuanced picture of inflation dynamics. Core prices, which strip out volatile food and energy components, increased by 0.3 per cent monthly and 3.1 per cent year-over-year, aligning closely with economist projections and signalling that underlying inflationary pressures remain contained but persistent.

Also Read: The calm before the surge: Fed easing, crypto clarity, and markets at a crossroads

Headline CPI ticked up by 0.4 per cent in August, marking an acceleration from prior months and pushing the annual rate to 2.9 per cent, the highest since early 2025. This uptick can be attributed in part to businesses preemptively passing on costs related to anticipated tariffs under the Trump administration’s trade policies, which have begun to ripple through supply chains and consumer goods pricing.

Concurrently, weekly jobless claims surged to 263,000, the highest level in nearly four years and exceeding market forecasts, highlighting emerging softness in the labor market. This jump in unemployment filings, combined with a slight rise in the jobless rate to 4.2 per cent in August, underscores a weakening employment landscape that has pulled the Fed in conflicting directions: persistent inflation argues for caution, while labor market fragility demands stimulus.

Despite these tensions, the data has cemented bets on a rate reduction, with markets pricing in a 100 per cent chance of at least a 25 basis point cut next week, and roughly 50 per cent odds of a more aggressive 50 basis point move.

Bond markets have reacted accordingly, with US Treasuries posting gains overnight. The 10-year yield dipped 2.5 basis points to 4.02 per cent, while the 2-year yield edged down 0.2 basis points to 3.54 per cent, reflecting investor flight to safety amid the mixed economic signals. The US Dollar Index consolidated with a modest 0.3 per cent decline, as traders weighed the implications of looser policy on currency strength.

Commodities presented a more varied picture: gold slipped 0.2 per cent, maintaining its role as a hedge against uncertainty, but Brent crude tumbled 1.7 per cent below US$67 per barrel, pressured by ongoing oversupply fears from OPEC+ production and sluggish global demand. These movements illustrate a market in transition, where the promise of Fed easing supports equities and bonds, yet commodity weakness hints at underlying economic headwinds that could temper the enthusiasm.

Turning to the cryptocurrency space, Bitcoin has captured particular attention with its 1.55 per cent rise over the past 24 hours, outpacing the broader crypto market’s 1.83 per cent gain. This daily uptick aligns with a weekly advance of 3.82 per cent, though it trails behind monthly and quarterly averages, down 3.1 per cent and 3.6 per cent, respectively.

As of September 12, 2025, Bitcoin hovers around US$114,290, having rebounded from recent lows near US$111,500 but still testing resistance at US$115,000. This price action occurs against a backdrop of several bullish catalysts. Foremost among them is the heightened probability of Fed rate cuts, which historically boost risk-on assets like cryptocurrencies by lowering borrowing costs and encouraging investment in high-growth sectors. Markets now assign 50 per cent odds to a 50 basis point cut on September 17, a scenario that could flood the system with liquidity and propel Bitcoin higher.

Additionally, regulatory tailwinds from the SEC’s proposed generic listing standards for crypto ETFs promise to streamline approvals for altcoin products, potentially accelerating inflows and broadening market participation. The agency has already greenlit in-kind creations and redemptions for crypto exchange-traded products in August 2025, aligning them with traditional commodity funds and reducing operational frictions. Complementing this, stablecoin reserves on exchanges have swelled to a record US$70 billion, indicating ample dry powder for buying but also raising concerns about potential selling pressure if sentiment sours.

However, beneath this surface buoyancy lurk technical signals that suggest Bitcoin’s uptrend may be faltering. The cryptocurrency has formed a rising wedge pattern on its charts, characterised by two ascending and converging trendlines that often precede bearish reversals. As these lines approach their apex, the risk of a breakdown intensifies, with analysts warning of a potential drop below US$100,000 if support levels give way. The Average Directional Index, a key trend strength indicator, has retreated from a year-to-date peak of 60 to around 24, pointing to diminishing momentum in the current rally.

Also Read: The calm before the surge: Fed easing, crypto clarity, and markets at a crossroads

Compounding this, the Relative Strength Index exhibits a bearish divergence, where the oscillator forms a descending channel even as prices climb, a setup that frequently heralds strong downward breakouts. Recent analyses highlight this divergence on weekly timeframes, with RSI flashing triple bearish signals that echo historical fragility points in equities, such as the 1998 LTCM crisis or the 2008 financial meltdown.

Moreover, Bitcoin’s price action mirrors patterns from past cycles, including a potential double top reminiscent of 2021, which preceded a 77 per cent correction. September’s historical underperformance, averaging negative returns since 2013, adds another layer of caution, with some projections eyeing a dip to US$108,802 or even US$88,000 in a deeper pullback.

Sentiment on social platforms like X reflects this dichotomy, with users debating the Fed cut’s implications. Some warn of a “sell the news” event, where Bitcoin rallies in the lead-up to the announcement only to crash afterward, as the cut, whether 25 or 50 basis points, may already be fully priced in by participants.

Posts highlight JPMorgan’s caution that easing might not trigger a uniform risk-on surge, potentially sparking a broader market dump. Others point to whale selling pressure, with over 100,000 BTC offloaded recently amid frozen corporate buys, and miner outflows turning bearish post-halving.

Bullish voices counter with observations of institutional accumulation, including 1,417 entities holding over 1,000 BTC each, and daily corporate purchases averaging 1,400 BTC, signaling long-term confidence. Threads discuss Bitcoin’s resilience, noting hidden bullish divergences in RSI near oversold levels and a flattening MACD, which could catalyse a rebound if liquidity flows resume. One prominent analyst frames the setup as a consolidation phase, with the Network Value to Transactions ratio at 1.51, well below overvaluation thresholds, suggesting sustainable growth driven by utility rather than speculation.

In my view, while the bearish technical indicators and historical September weakness pose genuine short-term risks, Bitcoin’s trajectory remains fundamentally upward over the longer horizon. The Fed’s impending cut, even if it triggers a knee-jerk selloff, will ultimately enhance liquidity in a way that benefits high-beta assets, such as cryptocurrencies, especially as dollar weakness from policy easing drives capital into alternatives like Bitcoin, often referred to as “digital gold.”

Regulatory progress on ETFs, coupled with surging stablecoin reserves, underscores growing institutional adoption that could absorb any temporary dips. Historical parallels, such as post-halving Septembers leading to Q4 surges, suggest this correction might be a buying opportunity rather than a prelude to collapse.

Also Read: The fed just changed everything: Why bitcoin could surge before October

That said, a failure to hold US$113,500 support could accelerate downside toward US$100,000, validating the wedge breakdown. Investors should monitor the Fed’s decision closely: a 50 basis point surprise might ignite a rally to US$120,000, as some inverse head-and-shoulders patterns imply, while a cautious 25 basis point trim could extend the choppiness.

Overall, the interplay of macro easing and crypto-specific tailwinds tilts the scales toward optimism, provided global growth holds steady amid tariff uncertainties. This moment feels like a pivotal inflection point, where patience and data-driven positioning will separate winners from those caught in volatility’s grip.

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PepsiCo has crowned Beijing AIForce Technology as the winner of its 2025 Greenhouse Accelerator Program in Asia Pacific (GHAC), recognising the startup’s autonomous, low-carbon electric tractors as a promising solution for the future of sustainable agriculture.

Selected from 10 finalists across five countries, Beijing AIForce Technology stood out for its fusion of robotics, data, and automation to address urgent agricultural challenges, including labour shortages, rising operational costs, and climate impacts. AIForce’s e-tractors can operate day and night with minimal human intervention.

The technology aligns with PepsiCo’s broader PepsiCo Positive (pep+) strategy, a global commitment to sustainability through regenerative agriculture and low-emission supply chains.

AIForce’s pilot took place on PepsiCo-affiliated farms in Wuwei, China. The tractors demonstrated emissions reduction and cost savings—critical proof points for broader commercial adoption.

“Our strategy has been sharpened thanks to this program,” said Dr. Han Wei, Founder & CEO of Beijing AIForce Technology. “The mentorship and connections have opened doors we never imagined. We’re excited to scale our solution further”.

Also Read: From pilot to scale: Why traditional VC metrics don’t work for climate deep tech

Each of the 10 finalists, hailing from Australia, China, Indonesia, Singapore, and South Korea, received a US$20,000 non-dilutive grant, five months of mentorship with PepsiCo experts, and access to the company’s value chain for pilot testing.

GHAC’s model includes non-dilutive funding, real pilots, corporate partnerships, and visibility across a global network. This can be a blueprint for scaling with impact for startups in climate tech, circular economy, and agri-innovation.

As Ashley Brown, PepsiCo’s Chief Sustainability Officer for APAC & India, puts it: “Each edition expands the pipeline of innovators who align with our region’s sustainability priorities. These startups are moving from vision to viability—and changing the industry along the way.”

This year’s finalists explored diverse sustainability solutions, from PHA-based biodegradable packaging by Beijing PHAbuilder to Bali Waste Cycle’s plastic regeneration centres.

Past participants such as Enwise and X-Centric have gone on to raise funding and expand operations across China and Southeast Asia.

Applications for the 2026 edition will open “soon”.

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Image Credit: PepsiCo

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Equity funding for Southeast Asian startups plummeted by 20.7 per cent year-on-year to US$1.85 billion across 229 deals in the first half of 2025, marking the weakest period in terms of both deal volume and value in over six years, per a new report.

The “Southeast Asia Startup Funding Report: H1 2025”, produced by DealStreetAsia in partnership with Filipino VC firm Kickstart Ventures, highlights a cautious investment landscape significantly influenced by prevailing macroeconomic uncertainties and increased scrutiny of governance standards.

Funding dynamics reflect cautious environment

Despite the significant decline, the report suggests a nuanced picture, particularly in the second quarter of 2025, where deployed capital more than doubled to US$1.28 billion compared with the first quarter’s US$0.58 billion. This indicates a shift towards larger, more strategic investments in companies demonstrating robust fundamentals, even as deal volumes remain subdued.

Also Read: “Don’t ‘out-bro’ your male colleagues”: Kickstart’s women leaders on gender diversity in VC

Minette Navarrete, Founder and Managing Partner at Kickstart Ventures, commented on the changing landscape, stating: “Global macroeconomic uncertainty and heightened governance scrutiny are reshaping the way capital flows into Southeast Asia. The bar for younger companies has risen considerably.”

Regional shifts and standout markets

The regional funding balance saw notable realignments. Singapore maintained its position as the primary fundraising hub, attracting nearly two-thirds of the total capital at US$1.21 billion. However, the city-state recorded its weakest semester, with 129 deals representing a 13 per cent drop compared with the second half of 2024 and a nearly 44 per cent year-on-year decline.

Indonesia, traditionally seen as a key growth engine, experienced a dramatic 67 per cent fall in investments to just US$78.5 million–its lowest figure on record. For the first time, Indonesia was surpassed by the Philippines, where startups collectively raised US$86.4 million, making it a standout performer in the challenging period.

In contrast, Vietnam emerged as a bright spot, with deal count rising from 17 to 23 and total proceeds surging by nearly 169 per cent to US$275 million. Malaysia also posted stronger results, with proceeds doubling to US$196 million, underpinned by milestone fundraises.

Early-stage challenges, late-stage resilience

Investor caution was particularly pronounced in early-stage funding. Transactions up to Series B declined to 219, the lowest level in six years, with proceeds falling to US$1.1 billion–a mere fraction of the H1 2022 peak of US$4.54 billion. This trend reflects a heightened emphasis on capital efficiency and profitability over rapid expansion for younger companies.

Navarrete elaborated, “Early-stage funding now demands sharper proof of capital efficiency, viable growth models, and teams that can be trusted for both market performance and good governance.”

Conversely, later-stage activity displayed resilience. Although only ten transactions were completed in the first half of 2025, these generated US$756 million, representing a 70 per cent increase in value compared with the preceding half-year. The median deal size for later-stage rounds also rose to US$60 million, indicating a concentration of capital in businesses with established scale, strong fundamentals, and credible exit strategies.

Navarrete noted that “capital at the later stage is consolidating behind companies that have demonstrated resilience and scale. This creates a more disciplined environment for both founders and investors.”

New unicorns emerge amidst selectivity

Despite the more selective funding environment, the region welcomed three new unicorns. Malaysia’s Ashita Group secured US$155 million at a unicorn valuation, while Singapore’s Thunes raised US$150 million, valuing it at US$1.42 billion. Digital asset bank Sygnum also crossed the US$1 billion valuation mark.

The report tracks a total of 58 Southeast Asian startups that have now achieved unicorn status.

Sectoral shifts: Fintech weakens, sustainability gains traction

Sectoral trends revealed a selective deployment of capital. Fintech maintained its lead with 57 transactions worth US$631 million, although both its volume and value declined to their lowest levels in over six years.

In contrast, health-tech recorded a strong rebound, doubling its proceeds to US$108 million, bolstered by Nuevocor’s US$45 million Series B round. Greentech also registered 20 transactions, despite a decline in overall value, while climate-focused startups sustained momentum with 34 transactions, predominantly in renewable energy, waste management, and low-carbon mobility.

Also Read: Startup funding in Southeast Asia sees a 9% uptick in August: Tracxn

Sustainability-linked sectors notably stood out, underscoring resilient investor interest in climate and health impact despite overall softened capital values.

Meanwhile, private debt activity weakened significantly, with proceeds falling to US$490 million (nearly half the level recorded in late 2024) as lenders narrowed their focus to revenue-generating companies with stronger repayment capacities.

Foundations for a healthier cycle

Navarrete underscored the long-term positive implications of these shifts: “The numbers tell us that Southeast Asia is not in decline, but in reset. Investors are no longer chasing growth at any cost, and founders are now challenged to build businesses that are disciplined, efficient, and resilient.”

She added: “The rebound in late-stage deal sizes and the emergence of new unicorns show that capital is still available, but it is increasingly directed toward companies that can prove their fundamentals and readiness for scale. This is a healthy recalibration for the region, laying stronger foundations for the next growth cycle.”

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The softer-than-expected Producer Price Index data for August, which showed a 0.1 per cent month-over-month decline, has fuelled expectations for a 25 basis point rate cut at the upcoming Fed meeting. July’s figures also underwent a downward revision, reinforcing the narrative of cooling inflation pressures that could ease the burden on consumers and businesses alike.

This development arrives at a pivotal moment, with core PPI rising 2.8 per cent year-over-year, below forecasts, suggesting that demand may soften further in the coming months. Traders now price in the rate cut with near certainty, viewing it as a supportive measure for economic growth without igniting undue inflationary risks.

This measured approach by the Fed strikes a balance, preventing overly aggressive easing that might destabilise the dollar while providing enough stimulus to sustain the ongoing recovery.

Legal twist in Fed leadership

Amid this backdrop, a notable legal twist has emerged in the Federal Reserve’s leadership dynamics. A US district court granted a temporary injunction blocking President Trump’s attempt to remove Fed Governor Lisa Cook, allowing her to remain in her position during ongoing legal proceedings. The ruling, issued by Judge Jia Cobb, underscores the protections embedded in the Federal Reserve Act, which permits removal of governors only for cause, though the term lacks a precise definition.

Cook, appointed during the prior administration, has advocated for policies emphasising economic equity and data-driven decisions, often clashing with the current White House’s preferences. The administration plans to appeal, but for now, this decision maintains continuity at the Fed, potentially averting disruptions ahead of key policy announcements.

From my perspective, such interventions highlight the importance of institutional independence, ensuring that monetary policy remains insulated from short-term political pressures, which ultimately benefits market stability.

Market reactions in equities and bonds

US equities reflected this buoyant sentiment, with major indices posting gains on September 10, 2025. The S&P 500 climbed 0.3 per cent to close at a record high of 6,512.61, driven by strength in the energy sector as oil prices rose. The Nasdaq Composite edged up 0.03 per cent, also hitting fresh peaks, as technology stocks were buoyed by anticipation of lower borrowing costs.

Also Read: Global markets ride the Fed wave, but can the rally last?

In contrast, the Dow Jones Industrial Average slipped 0.5 per cent, weighed down by select under-performers in industrial and consumer goods. Energy stocks led the advance, capitalising on heightened geopolitical tensions that pushed crude prices higher. Bond markets echoed this positivity, with the two-year Treasury yield dropping 1.5 basis points to 3.544 per cent and the 10-year yield falling 4.3 basis points to 4.045 per cent following robust demand at a recent note auction.

These movements signal investor confidence in a soft landing scenario, where inflation tames without derailing growth. This is a healthy rotation, with bonds attracting inflows as equities consolidate gains, setting the stage for sustained upward momentum if the Fed delivers as expected.

Currency and commodity movements

Currency and commodity markets displayed mixed but generally stable behaviour.

The US Dollar Index ended flat at 97.78, hovering near recent lows as rate cut bets tempered its appeal. Gold consolidated around US$3,640 per ounce, maintaining its safe-haven allure amid global uncertainties, though it faced mild profit-taking after recent highs. Brent crude advanced 1.7 per cent, climbing toward US$67 per barrel, propelled by escalating tensions between Russia and Poland alongside persistent Middle East instability.

These dynamics underscore the interplay between geopolitics and energy supply, with potential disruptions keeping prices elevated. Asian equity indices showed varied performance in early trading on September 11, while US futures pointed to a higher open, suggesting the positive mood could spill over.

In my opinion, commodities like oil and gold serve as barometers for broader risk appetite, and their current trajectories align with a world navigating recovery amid lingering threats.

SEC’s pivot on crypto regulation

Shifting focus to the regulatory landscape, SEC Chair Paul S. Atkins delivered a pivotal address at the Inaugural OECD Roundtable on Global Financial Markets in Paris on September 10, 2025, marking a transformative moment for digital assets. Atkins boldly proclaimed that crypto’s time has come, critiquing past reliance on enforcement actions that he argued stifled US competitiveness and drove innovation abroad. He highlighted how entrepreneurs wasted resources on legal defences rather than business development, labelling that era as history.

Introducing Project Crypto, Atkins outlined a shift toward a structured regulatory framework, promising transparent and predictable rules to foster domestic growth. This initiative aligns with President Trump’s directive to position America as the global leader in cryptocurrency, drawing on the President’s Working Group on Digital Asset Markets.

Key elements include modernising securities rules for blockchain, ensuring on-chain capital raising, and declaring that most crypto tokens do not qualify as securities. Atkins advocated for super-app platforms that integrate trading, lending, and staking under a single regulatory umbrella, with flexible custody options to empower users.

He praised Europe’s MiCA framework and called for international collaboration, emphasising the need for minimal intervention to protect investors while fostering competition. Reactions on social media platforms like X have been overwhelmingly positive, with users hailing it as a new dawn for the industry.

Also Read: Gold slumps, oil tanks, Bitcoin hangs by a thread: The global market meltdown no one saw coming

In my view, this pivot represents a long-overdue acknowledgment of crypto’s potential, rectifying years of adversarial oversight that hampered progress. By prioritising clarity over confrontation, the SEC could unlock trillions in economic value, attracting talent and capital back to US shores and solidifying the nation’s leadership in fintech.

Bitcoin’s technical and market outlook

This regulatory optimism has invigorated the cryptocurrency market, particularly Bitcoin, which trades above US$114,000 as of September 11, 2025, reflecting a 2.5 per cent gain over the past 24 hours. Technical indicators bolster a bullish outlook, with Bitcoin reclaiming its 7-day simple moving average at US$111,475 and 30-day exponential moving average at US$112,609. The MACD histogram has turned positive at +466.15, signalling building momentum, while the RSI-14 sits at 54.32, indicating neutral territory without overbought risks.

Historic Bollinger Bands have tightened to extreme levels, often preceding significant volatility. A completed cup-and-handle pattern suggests upward breakout potential. A shakeout pattern analysis points to the next milestone around US$130,000, with weakening resistance levels paving the way.

Institutional demand for Bitcoin ETFs continues to rise, countering the classic bull cycle correction phase. Holding above the 61.8 per cent Fibonacci retracement at US$113,836 affirms bullish control, and a close over US$115,864 could propel prices toward the US$120,000 to US$124,457 resistance zone. However, trading volume, up only 19.88 per cent from the 24-hour average, warrants caution regarding the rally’s sustainability. Discussions on X echo this sentiment, with analysts predicting surges to US$300,000 based on these metrics.

Personally, I align with the user’s prediction of US$150,000 by year-end, viewing it as achievable given the confluence of regulatory tailwinds, technical setups, and macroeconomic easing. Yet, I temper enthusiasm with realism, noting that low volumes could invite pullbacks if external shocks arise.

Final thoughts

Looking ahead, the interplay between these elements paints a promising picture for global finance. The Fed’s impending rate cut, combined with the SEC’s pro-crypto stance, could catalyse a virtuous cycle of investment and innovation. Bitcoin’s trajectory, supported by robust fundamentals, positions it as a bellwether for digital assets, potentially drawing in more mainstream adoption.

Challenges remain, including geopolitical risks that buoy oil but unsettle equities, as well as the ongoing legal battles at institutions such as the Fed. Nevertheless, the current buoyancy in risk sentiment feels grounded in data rather than hype.

I believe this moment heralds a maturation phase for crypto, where regulation enhances rather than hinders progress. If Project Crypto delivers on its promises, the US could indeed become the epicentre of blockchain advancement, benefiting investors, entrepreneurs, and the economy at large. The path forward demands vigilance, but the foundations appear stronger than ever.

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

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Siam Validus, a crowdfunding platform for small and medium-sized enterprises (SMEs) in Thailand, has announced its official membership with the Thailand National Credit Bureau (NCB).

This integration is expected to significantly enhance Siam Validus’s ability to provide digital, efficient, and responsible credit access to Thai SMEs.

Becoming an NCB member will enable Siam Validus to access credit bureau reports in real-time with SME consent, drastically reducing current turnaround times from two weeks to almost instantly.

Also Read: Venture debt: How it stacks up against loans and equity

Crucially, the platform will also be able to report SME exposures and payment records back into the national system, fostering a ‘virtuous cycle’ of transparency, faster decision-making, and stronger credit profiles for SMEs.

Anand Periwal, CEO of Siam Validus, said: “Access to credit continues to be a key barrier for SMEs, which account for a large proportion of Thai businesses and contribute over 35 per cent of GDP. By joining the NCB, we are not only accelerating loan approvals through faster access to credit data but also ensuring that SMEs’ positive repayment histories are recorded to unlock larger opportunities in the future.”

Siam Validus, which holds over 50 per cent market share in SME crowdfunding in Thailand, is a joint venture between Validus Group, a leading digital supply chain financing platform that has facilitated over US$5 billion in SME loans across ASEAN, and SCG Distribution. The platform provides unsecured lending to SMEs within closed-loop supply chains through its crowdfunding licence.

Looking ahead, Siam Validus is in advanced discussions with leading domestic and international financial institutions to raise additional funds for deployment within transaction-backed supply chain ecosystems. The company is also actively exploring opportunities to expand its offerings to large companies, providing financing solutions to ease their account receivables and accounts payables by granting easy access to unsecured financing for their suppliers and buyers.

Also Read: Tech SMEs play key role in fuelling Asia’s digital economy boom

In May this year, Validus Group and Fintech Nation, which builds sustainable and inclusive ecosystems for startups and SMEs, formed a US$10 million Embedded Finance Fund to support SMEs across Thailand and Indonesia.

A month earlier, Singapore-based digital bank GXS Bank acquired Validus Capital, the Singaporean subsidiary of Validus Group.

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Singaporean consumers are early adopters of artificial intelligence, drawn to its efficiency and speed in everyday interactions. However, a new report by customer communications firm Sinch reveals that a strong demand for trust, relevance, and human connection tempers this enthusiasm.

The State of Customer Communications report, released on September 9, surveyed over 600 consumers across Singapore, India, and Australia. It highlights a critical balancing act facing businesses in Singapore: leveraging AI without undermining consumer expectations for safety and personal interaction.

The research highlights a nuanced adoption curve. While 45 per cent of Singaporean respondents said they would use AI-powered customer support if backed by credible brand information, only four per cent would choose AI or chatbots as their first choice for resolving issues—underscoring ongoing concerns around privacy and accuracy.

This selective comfort with AI extends to sectors such as healthcare and finance. Although 57 per cent of respondents are fine with using AI for tasks such as booking appointments, 68 per cent express doubts about the accuracy of AI-generated medical responses.

Also Read: Southeast Asia startup capital falls 21 per cent, lowest in over six years

Similarly, half of all Singaporeans would still prefer to talk to a human when dealing with fraud concerns in financial services.

The report also outlines a growing tension between consumers’ desire for tailored experiences and their unease over data usage. While many Singaporeans appreciate AI-driven recommendations, 44 per cent say they only welcome them if they are genuinely helpful. Misguided or irrelevant suggestions could lead to customer churn rather than loyalty.

This phenomenon, dubbed the “personalisation paradox,” has strategic implications for brands. Getting personalisation right can deepen customer engagement. Get it wrong, and it risks eroding the trust companies are trying to build.

“Singaporean consumers are proven early adopters, embracing the efficiency and convenience that AI brings to their brand experiences,” said Wendy Johnstone, EVP APAC at Sinch.

“Our research makes it clear that trust and human connection remain essential. The businesses that will win are those that blend digital efficiency with the human touch, giving customers control and choice at every step.”

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Image Credit: Andy Kelly on Unsplash

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When I became a certified personal trainer, I didn’t imagine that some of my most meaningful insights would come from the quiet, determined strength of women in midlife. What started as a weekend commitment to coach a few clients slowly evolved into something more meaningful: a front-row seat to how overlooked and underserved this demographic often is in both health and technology.

These women weren’t chasing six-pack abs or trying to squeeze into pre-pandemic jeans. Many were quietly navigating menopause, post-pregnancy shifts, career transitions, and the emotional weight of caring for both children and ageing parents. Through every hesitant squat and self-conscious glance in the mirror, they offered a window into a user group that is rarely considered in product design.

Health equity, I’ve come to learn, isn’t only about access for rural or low income groups. It also means asking who’s being left out of the conversation and which products are unintentionally being excluded.

The midlife gap in health innovation

In Southeast Asia, we’re seeing a surge in digital health startups. AI-powered diagnostics, mindfulness apps, wellness platforms, they’re all booming. But scan through pitch decks, and the typical user personas often fall into two camps: young, tech-savvy urban millennials or elderly patients in rural areas.

Also Read: How the global growth of fintech defies age and gender

Left in the shadows? Women aged 35 to 55. They’re juggling careers, caregiving, and their own changing bodies. They are usually financially independent and digitally literate, yet their needs often go unaddressed or get generalised under broader user categories.

During training sessions, I often hear:

“I just want to feel strong again.”

“I’m not sure if this is stress or age.”

“Everything feels like it’s made for 20 year olds.”

These aren’t one off comments. They’re recurring patterns, insights hiding in plain sight.

Confidence before conversion

Confidence, not capability, is often the invisible barrier. These women are disciplined. They show up. But their bodies are changing, and that makes them second guess themselves.

When a health app asks them to count macros without accounting for perimenopause, it can feel out of touch. When a program suggests simply “sleep more,” they might laugh or cry. A wearable might praise their step count while ignoring chronic insomnia or low energy.

Through personal coaching, I found that celebrating small, consistent effort worked better than chasing metrics. Replacing “burn 300 calories” with “you made time for yourself today” had a bigger impact than expected.

And when that message landed, commitment followed.

Also Read: Singapore’s ageing population: Tech and new scientific discoveries may calm the silver tsunami

What inclusive design could look like

If more health tech builders sat in my coaching shoes, they might notice the same quiet needs I did. Based on these lessons, here are a few gentle design nudges that could go a long way:

• Menopause aware design: Acknowledge the experience. Add resources for hormonal changes, disrupted sleep, or joint discomfort. Sometimes, just seeing those words in an app is a relief.
• Flexible goals: Instead of focusing solely on aesthetics or performance, offer goals like increased energy, reduced stress, or simply being able to carry groceries with ease.
• Respectful, empowering tone: Avoid cheerleading or condescension. Speak as if to a peer, not a patient.
• Supportive communities: Leaderboards and competitive stats can backfire. What resonates more are peerled spaces for sharing stories and setbacks without judgment.
• Real-world feedback loops: Test new features with real women in this demographic. Their input is often more nuanced and more valuable than what metrics alone can show.

The coach’s perspective

Coaching taught me to observe what’s not being said. If someone skips a session, is it because they’re too busy or because they feel they’ve failed? The difference matters.

When a client quietly admits she almost didn’t come because she felt ashamed of her progress, that’s not a personal failure; it’s a design challenge waiting to be solved.

Founders often say, “we want to solve real problems.” But that takes more than user surveys. It takes sitting in discomfort, showing up with empathy, and noticing the unspoken.

Designing with, not for

If we’re building health tech for real impact, we might ask:

Are we acknowledging confidence changes with age? Are we including those juggling care and career? Do we invite users back kindly when they miss a day or do we guilt them with streak reminders?

These aren’t just design tweaks. They reflect whether a product truly sees the user or just their data.

Closing reflections

Working with women in midlife continues to shift how I view inclusion. It’s no longer about checking boxes for representation. It’s about listening better, designing more gently, and recognising that strength looks different at different stages of life.

In tech, we often ask: “Does the market need this?” But perhaps another question is just as vital: “Would this make someone feel seen?”

If we start there, we don’t just build for health equity. We build with it.

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Investors appear to shrug off the ongoing global uncertainties, focusing instead on positive economic signals and the prospect of monetary policy easing from central banks. This resilience comes at a time when the world economy navigates a complex landscape of inflationary pressures, supply chain disruptions, and shifting alliances.

Markets have demonstrated an ability to adapt, with equity indices pushing higher and volatility remaining contained. Yet, beneath this calm surface lies a web of risks that could unsettle the balance if not managed carefully. The ongoing conflicts in regions like Ukraine and the Middle East add layers of unpredictability, influencing everything from energy prices to investor confidence.

Despite these challenges, the broader appetite for risk assets suggests that participants believe in the underlying strength of global growth, particularly in developed economies.

The latest data from the US Bureau of Labour Statistics has painted a clearer picture of the labour market’s trajectory, revealing a significant downward revision in payroll numbers. Officials adjusted the figures by 911,000 jobs for the 12-month period ending in March, exceeding estimates of a 700,000 reduction.

This equates to roughly 76,000 fewer jobs per month than previously reported, signalling a softer employment landscape than many had anticipated. Such revisions often stem from more comprehensive data sources, like tax records, which provide a fuller view of hiring trends. This adjustment has reinforced expectations that the Federal Reserve will act decisively to support the economy, with a rate cut appearing imminent at the next meeting.

Lower interest rates typically stimulate borrowing and investment, helping to sustain growth amid signs of cooling. However, this data also highlights vulnerabilities, as slower job creation could translate into reduced consumer spending if not offset by wage gains or other supports.

Analysts have noted that while the revision implies average monthly gains of about 71,000 jobs, the overall labor market remains robust by historical standards, avoiding the sharp contractions seen in past downturns.

Tariff escalation and trade tensions

President Trump’s escalation of tariff threats has introduced fresh volatility into international trade relations, targeting key players like India and China while proposing up to 100 per cent duties on Russia to pressure it into de-escalating tensions with Ukraine.

This move, contingent on similar actions from the European Union, aims to use economic leverage to influence geopolitical outcomes. Tariffs of this magnitude could disrupt global supply chains, raising costs for importers and potentially slowing economic activity in affected sectors.

Also Read: Navigating tariffs and uncertainty: Why software, data, and AI startups are Asia’s path forward

For instance, India’s role as a major processor of Russian oil has drawn scrutiny, with US imports of these products highlighting the interconnected nature of energy markets. Critics argue that such policies risk retaliatory measures, echoing the trade wars of previous years that hampered growth. Russia has responded by downplaying the threats, suggesting efforts to strengthen ties with alternatives like China and India.

This tariff strategy reflects a broader shift toward protectionism, which could undermine multilateral efforts to resolve conflicts. While intended to bolster US negotiating power, the approach may strain alliances and complicate recovery in a post-pandemic world still grappling with inflation and debt.

Equity market rally on Fed hopes

US equities have surged to new record highs, buoyed by the payroll revision that has heightened anticipation of Federal Reserve intervention to prop up the economy. The S&P 500 advanced 0.3 per cent, the Nasdaq gained 0.4 per cent, and the Dow Jones rose 0.4 per cent, reflecting broad-based optimism across sectors.

Technology stocks led the charge, as investors bet that lower borrowing costs would benefit growth-oriented companies. This rally occurs against a backdrop of solid corporate earnings and improving consumer sentiment, though some caution that valuations are stretched. The market’s reaction underscores a belief in a soft landing, where the Fed engineers a slowdown without tipping into recession.

Historical precedents show that rate cuts often ignite equity booms, but they also carry risks if underlying economic weaknesses persist. With futures indicating mixed openings, traders are closely monitoring upcoming data releases for confirmation of this trajectory.

Bond yields and dollar movements

Bond yields have rebounded after a brief dip, with the 2-year Treasury yield climbing 7.2 basis points to 3.558 per cent and the 10-year yield up 4.8 basis points to 4.088 per cent. This movement suggests that investors are adjusting to the likelihood of a rate cut while pricing in persistent concerns about inflation. Higher yields typically signal expectations of stronger growth or stickier prices; however, in this context, they may reflect a normalisation following recent declines.

The dynamics of the yield curve play a crucial role in banking profitability and lending activity, influencing everything from mortgages to corporate debt. As the Fed prepares to ease, these shifts could ease financial conditions, encouraging investment. However, if yields rise too sharply, they might tighten conditions prematurely, countering the central bank’s intentions.

Also Read: Global markets ride the Fed wave, but can the rally last?

The US Dollar Index strengthened 0.3 per cent to 97.79, benefiting from safe-haven flows amid global uncertainties. This appreciation pressures emerging markets, making dollar-denominated debt more expensive to service. Gold, conversely, retreated 0.3 per cent to US$3,674 per ounce, as the stronger dollar and rising yields diminished its appeal as a non-yielding asset.

Brent crude oil edged up 0.6 per cent, driven by escalating tensions between Israel and Qatar, which raise fears of disruptions in key supply routes like the Strait of Hormuz. Oil’s sensitivity to geopolitical events underscores its role as a barometer for global stability, with prices fluctuating based on perceived risks to production and transit.

Asian equity indices opened mostly higher today, extending the positive momentum from Wall Street. This uptick reflects regional resilience, though concerns over trade tariffs linger. US equity futures point to a mixed start, suggesting caution as investors digest the latest developments.

Metaplanet expands Bitcoin strategy

Turning to the cryptocurrency space, Japan-based Metaplanet has announced plans to issue 385 million new shares, aiming to raise approximately US$1.4 billion to fuel its Bitcoin acquisition strategy. The company priced the shares at ¥553 each, upsizing from an initial 180 million shares, with proceeds primarily allocated to purchasing Bitcoin and enhancing its income-generation operations.

As of September 1, Metaplanet holds over 20,000 Bitcoins, accumulated since early 2024, and has generated significant revenue from Bitcoin options trading, reporting ¥1,904 million in the second quarter of 2025. This move positions Metaplanet as Asia’s equivalent to MicroStrategy, emphasising Bitcoin as a core treasury asset.

The firm’s strategy includes using earnings to pay dividends on preferred shares, blending yield generation with cryptocurrency holding. Institutional interest, such as a US$30 million investment from KindlyMD’s subsidiary Nakamoto, underscores growing confidence in this approach.

Metaplanet’s actions highlight a broader trend where corporations integrate digital assets into balance sheets, seeking inflation hedges and growth potential.

Bitcoin and Ethereum stance

Bitcoin’s price path depends on a dynamic interplay between institutional adoption and regulatory advancements. Spot Bitcoin ETFs have seen inflows of US$14.8 billion year-to-date, providing a buffer against selling pressures and indicating sustained demand from traditional finance. Legislative efforts to establish a US Bitcoin reserve, holding around 198,000 BTC, could solidify its status as a strategic asset, anchoring long-term value.

Technical upgrades like BIP-119, which introduces covenants for enhanced scalability and security, are under debate and may reach consensus by year’s end, potentially reshaping Bitcoin’s utility. These factors collectively suggest Bitcoin is maturing beyond speculative trading, evolving into a foundational element of global finance.

Also Read: Bitcoin and Ethereum simplified for a five-year-old

Ethereum has encountered resistance in its recent price movements, declining below US$4,450 and consolidating around key levels. The asset struggles to breach US$4,400, trading below this mark and the 100-hourly simple moving average. A bearish trend line forms resistance at US$4,340 on the hourly chart, with immediate hurdles at US$4,350 and US$4,380. If Ethereum clears these, it could initiate a recovery wave, targeting higher zones.

However, failure to do so might lead to further tests of support near US$4,260. Analysts predict Ethereum could fluctuate between US$4,000 and US$5,000 in September 2025, driven by network upgrades and institutional interest. The cryptocurrency’s performance ties closely to broader market sentiment, with potential for upside if rate cuts materialise and DeFi adoption accelerates.

Outlook and risks ahead

In my view, the current market environment demonstrates a remarkable capacity for adaptation in the face of adversity. Equities reaching records despite downward data revisions and tariff escalations point to a collective bet on central bank support and economic resilience. The Fed’s likely intervention could extend this bull run, but overreliance on monetary easing risks inflating asset bubbles.

Geopolitically, Trump’s tariff tactics, while bold, may backfire by fragmenting trade and inviting retaliation, reminiscent of past protectionist pitfalls that deepened downturns. On the crypto front, initiatives like Metaplanet’s aggressive Bitcoin stacking and potential US reserves signal a paradigm shift, where digital assets transition from fringe to mainstream. Ethereum’s technical challenges notwithstanding, the sector’s institutional inflows and innovations bode well for long-term growth.

Overall, while short-term volatility looms, particularly with September’s historical weakness, the foundational trends favor cautious optimism. Investors who navigate these waters with diversified strategies stand to benefit, as the interplay of policy, technology, and sentiment continues to shape outcomes in unpredictable ways. This moment underscores the importance of vigilance, as today’s robustness could swiftly give way to tomorrow’s corrections if key supports falter.

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As AI tools increasingly become a staple in daily life for Singaporeans, a new survey by Milieu Insight shows a nuanced relationship between usage and trust. While 80 per cent of Singaporeans now use AI in some personal capacity, only a small fraction rely on it for more sensitive decisions such as financial planning (16 per cent) or mental health support (14 per cent).

The findings come at a time when AI is under growing public and governmental scrutiny spurred by incidents of deepfakes, rising scams, and a broader conversation around AI’s role in jobs and society.

The fieldwork, conducted in June with 1,000 respondents aged 16 and above, underscores how quickly AI has permeated Singaporean lifestyles. Younger people, particularly those aged 16 to 24, are leading the charge: 40 per cent report regular use, and half of that group say they employ AI for creative tasks such as writing or image generation.

Despite this enthusiasm, engagement remains casual. Eighty-seven per cent of users spend less than 30 minutes a day on AI tools, often for planning, creative prompts, or general information.

But the line between novelty and necessity is still firmly drawn.

Also Read: Singapore’s AI revolution and how SMEs can win in a high-risk landscape

“The findings show a fascinating duality: AI has become a mainstream tool for everyday efficiency, but Singaporeans continue to draw clear lines when it comes to trust and human expertise,” said Juda Kanaprach, Co-Founder and Chief Commercial Officer at Milieu Insight.

Concerns about misinformation and over-reliance are most prominent among younger users, with 61 per cent worried about fake or misleading content. Meanwhile, older users (55+) are more anxious about the diminishing “human touch” in an increasingly automated society.

The fear is not unwarranted. Though 94 per cent say they have never personally been targeted by deepfakes, more than a third of affected respondents reported negative impacts on their mental health. Yet, reporting remains low: most victims simply adjust privacy settings or confide in friends.

The low uptake of AI for financial and mental health services signals a hard boundary: Singaporeans may appreciate AI’s utility but stop short of replacing expert human judgment. This reflects broader societal and policy perspectives, including Prime Minister Lawrence Wong’s recent National Day Rally emphasis that Singaporeans (and not AI) will remain at the center of the nation’s economic future.

Generational preferences also reveal an interesting paradox. While younger users are more willing to experiment with AI, they also express discomfort with it replacing genuine human interaction. Nearly 60 per cent of Gen Z respondents voiced unease about AI supplanting social or emotional exchanges.

Also Read: Trust, not just technology: What I learned building AI finance tools for SMEs in Southeast Asia

Singapore’s regulatory gaps are also telling. Only 38 per cent of survey respondents felt existing legal protections against deepfakes were effective despite broad consensus (94 per cent) that the issue is serious.

As Southeast Asia doubles down on AI integration across services, from banking to education, Singapore’s nuanced experience offers important lessons. High engagement does not equate to deep trust, particularly when dealing with sensitive domains.

Governments and tech developers in the region must therefore focus not only on innovation, but also on building robust safeguards and clear ethical frameworks.

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Image Credit: Julio Lopez on Unsplash

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