Cybercriminals always seem to find new ways to steal data or make financial gains, but now they’re using images to try executing a new form of phishing — quishing. Just when you thought not clicking on links and checking response email addresses was a good start in becoming cyber-safe, now you need to be wary of QR codes, too.

QR codes (or Quick Response codes) are square barcode-like images that serve many legitimate purposes — allowing quick access to internet-based resources such as websites, products, event information and payment facilities. While QR codes have existed for over two decades, the use of QR codes has increased as more consumers began owning and using smart devices. This was especially evident during the pandemic when QR codes were used as a form of contact tracing.

Despite its funny-sounding name, the intent is still malicious. QR code phishing attacks (“quishing”) use physical or digital QR codes to lure users to fake websites designed to steal sensitive information or to infiltrate a device and infect it with malware.

This is just one of the many types of phishing attacks, a type of scam where attackers attempt to get users to reveal personal information — such as login details or credit card numbers. In fact, a phishing attack takes place every 39 seconds, and an estimated 3,809,488 records are stolen daily due to phishing related breaches.

Like other forms of phishing, quishing relies on trust — trust in the QR code and the organisation attached to it. A characteristic of a phishing scam is that it also relies on creating a sense of urgency (e.g. this limited discount offer ends today!) or there’s a ‘consequence’ of not taking action (e.g. your account will be locked in 24 hours).

Different forms of quishing

QR codes are available in physical and digital formats, so being exposed to quishing attacks can happen wherever there is a QR code. This is why it’s critical to be cautious and mindful when scanning QR codes to ensure the source is trusted.

There have been some interesting cases being reported in Singapore. In one, a woman visited a bubble tea shop and saw a QR code sticker on the business’ glass door, encouraging customers to complete an online survey to receive a free cup of milk tea.

When the person scanned the QR code, it downloaded a third-party app onto her Android phone to complete the “survey.” The scammers used their ‘app’ to take over the user’s device and stole US$20,000 from their bank account later that evening as they were sleeping.

A similar scenario can take place with a digital QR code whereby the user receives an email from a retailer that contains a QR code to sign up for a new loyalty program or receive a promotional offer. When the user scans the code on their computer screen with their smart device, they are prompted to enter their personal details, including name, address, username and password.

Identifying quishing scams

It is easy to be tricked by quishing attacks, which is why we’re seeing this method of attack continue to grow. With text-based phishing attacks, it is ‘easier’ to verify a link is legitimate before you click it, but it is naturally more difficult to do so with physical QR codes.

The Australian Signals Directorate highlights three key challenges in trying to identify a quishing scam:

• The limited ability of some email security tools to detect and block malicious links embedded in images.
• Hiding the link in an image limits your ability to check its legitimacy prior to scanning the QR code.
• For business environments, users receiving quishing emails sent to their work email address may scan a malicious QR code using personal devices, which may not be subject to the organisation’s cyber security controls and monitoring environments, making it difficult to prevent, detect and track potential compromises.

Nefarious QR codes stemming from quishing attacks are hard to spot, so in this case, Yubico recommends being cautious and protecting yourself by doing the following:

Verify the source is legitimate

QR codes are everywhere, so if you see one in an unexpected place, inspect the URL before opening it, especially if the source is unknown. If the QR code displays a link, make sure you recognise the URL, and even if you do, look for misspellings or a switched letter, just in case.

If you think that the message looks legitimate, you can also verify the validity of the sender by using a phone number or website that is confirmed to be authentic to verify the information. Placing a new fraudulent QR code sticker over a legitimate one is very easy. Be cautious if you come across physical QR codes that are sticker-based, unbranded, or placed in unusual locations.

Likewise, QR codes delivered by email should always be treated with extreme caution. If you are ever in doubt but still wish to find out more, contact the organisation directly to verify the request/offer associated with the QR code. However, until you verify the source, the simplest thing you can do is not scan QR codes.

Think before sharing personal information or making payments

As phishing attacks become harder to identify and use new tactics, such as QR codes, it’s crucial to stay vigilant. Be cautious of websites requesting personal, login, or financial data. Also, avoid suspicious methods of payment, such as PayPal, Venmo or e-Transfer and avoid debit cards, which are not protected. Opt for a credit card with consumer protection for any purchases. Due to a QR code interaction, never disclose banking information or wire transfer funds.

Enable strong, phishing-resistant MFA across your accounts

Implementing multi-factor authentication (MFA) offers stronger security than relying on legacy systems like usernames and passwords. However, not all MFA methods provide the same level of protection. Enabling MFA wherever possible will help bolster defences against phishing attempts.

Look for MFA solutions resistant to phishing, such as device-bound passkeys, including hardware security keys. Security keys stop phishing attacks by requiring something you know (a password) and something you have (a security key) to insert into the device and physically touch it to gain access to accounts.

Final thoughts

Communicating or engaging with technology has become fraught with potentially dangerous situations threatening our digital identities, but it doesn’t have to feel that way. Remember that if you receive an unexpected email or text with a QR code, don’t scan it, especially if it urges you to act immediately. With the right knowledge or awareness of scams and armed with phishing-resistant MFA tools, navigating the web-based world can become a bit less stressful.

—

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

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

Image credit: Canva

The post Don’t trust the scan: Protecting yourself from QR code attacks appeared first on e27.

AVPN, a network of social investors in Asia, has launched a US$15 million fund with the support of Google’s philanthropic arm Google.org and the Asian Development Bank (ADB) to equip Asia’s workforce with essential artificial intelligence (AI) knowledge.

Named ‘AI Opportunity Fund: Asia-Pacific,’ the three-year programme aims to provide tools required for the evolving work landscape in the region. It thereby ensures that jobs and roles presented by AI are accessible to more people in the region, specifically those from underserved communities.

Also Read: Amazon to train 15K individuals in AI skills in Singapore

The fund will be available through an open call to identify and select the non-profit organisations, social enterprises, and workforce associations in Asia Pacific that reach the workers impacted by the workforce transitions caused by AI.

Selected organisations will receive guidance, financial support and tailored AI training based on foundational AI courses designed by Google and its external partners.

“AI presents tremendous opportunities for the Asia-Pacific region, but it’s crucial to equip people with the skills to thrive. This new AI Opportunity Fund in Asia Pacific will help empower underserved communities and ensure everyone benefits from the transformative power of AI,” said Scott Beaumont, President of Google Asia-Pacific.

Employers in Asia-Pacific are confident in AI’s potential to boost productivity. Over the next five years, 93 per cent expect to use generative AI tools, with some even offering salary bumps of up to 44 per cent for workers with AI skills.

While AI is perceived positively by employees, 16 per cent of those surveyed by PwC believed AI could replace their jobs. The work uncertainty compounds for those already disadvantaged, where a third of the population does not use the internet and where high job informality persists.

Also Read: Microsoft to empower 2.5M Southeast Asians with AI skills by 2025

Applications for the AI Opportunity Fund: Asia-Pacific will open soon. Interested organisations can register their interest and be notified when applications open here.

AVPN’s CEO Naina Subberwal Batra said: “Building an AI-ready workforce is an essential social mandate for businesses and governments, and one that can unlock Asia’s full workforce potential, considering this region will have 165 million working-age people by 2030. There is urgency for such an enablement initiative, as the new world work realities unfold, and we start to see the socioeconomic impact of AI work transition on workers who have limited support to adapt and catch up. AVPN is optimistic about leveraging the knowledge and reach of impact organisations that are already actively working on the ground to bridge the gaps for an AI Workplace Just Transition, and to ensure that the benefits of AI work opportunities reach more of our workers.”

AVPN is a network of social investors comprising over 600 funders and resource providers across 33 markets. Its mission is to increase the flow and effectiveness of financial, human, and intellectual capital in Asia by enabling members to channel resources towards impact.

Recently, tech giant Microsoft committed to equipping 2.5 million Southeast Asian people with AI skills by 2025. The skilling initiatives will be implemented in partnership with governments, nonprofit and corporate organisations and communities across Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.

The post AVPN, Google.org launch US$15M fund to equip workers in APAC with AI skills appeared first on e27.

Pixlr, an AI-powered digital photo editing and content creation tool, was recently recognised as one of the 18 web apps supporting Progressive Web Apps (PWAs) at the Google developer conference Google I/O 2024 for its newly launched “Add to Chromebook” badge. The badge enables users to install the tool from various platforms, including marketing pages and app listings, significantly boosting its discovery ability.

Pixlr Group CEO Warren Leow spoke with e27 about the new feature and its implications for the developer community and Pixlr users.

Edited excerpts:

What specific features make Pixlr stand out as the ultimate AI editing tool for Chromebook users?

Pixlr offers several key features to Chromebook users:

AI-powered tools: Pixlr offers a suite of AI-driven tools to automate complex editing tasks, making the process quicker and more intuitive.

Progressive web app (PWA) support: Its PWA capabilities ensure a smooth, fast, and reliable experience on Chromebooks. Users can install Pixlr directly from their web browser, enjoy offline access, and benefit from performance similar to native apps. This is particularly advantageous for Chromebook users who rely on web-based applications.

Also Read: Inmagine CEO Warren Leow discusses AI’s impact on content creation and ethical considerations

User-friendly interface: Its interface is designed to be intuitive and accessible, catering to both beginners and professionals. The platform includes features like drag-and-drop editing, a vast collection of templates, and easy-to-use AI tools that simplify editing.

Cross-device compatibility: The tool is fully compatible with Chromebooks and other devices, allowing users to seamlessly switch between their desktop, tablet, and mobile devices. This ensures that Chromebook users can access their projects anytime, anywhere.

Comprehensive editing features: Beyond AI tools, Pixlr provides a wide range of editing options, including background removal, object removal, noise reduction, and batch editing. These features offer Chromebook users the flexibility to perform advanced edits without needing multiple software applications.

What benefits do PWAs offer to Pixlr users, and how does it enhance their editing experience?

PWAs offer Pixlr’s 10 million monthly active users several benefits that enhance their editing experience:

Offline access: Users can edit photos without an internet connection, making it convenient for on-the-go editing.

Fast performance: PWAs provide a smooth and efficient user experience similar to native apps.
Cross-device compatibility: Users can seamlessly switch between devices while maintaining their work progress.

Automatic updates: Pixlr automatically updates to the latest version, ensuring users always have the newest features.

Native app-like features: PWAs offer features such as push notifications and easy installation from the browser, enhancing user convenience and engagement.

What are the key advantages of Pixlr’s integration with Google Play for Chromebook users?

Pixlr’s integration with Google Play for the 60 million Chromebook users offers several key advantages: seamless installation and updates through the Google Play Store, optimised performance tailored for ChromeOS, and enhanced accessibility with offline functionality. This integration ensures that users experience fast, reliable photo editing with easy access to the latest features and improvements.

Also Read: ‘Sell things with repeat purchases and uses’: Warren Leow speaks about Amazing Fables shutdown

Chromebook users also have access to a free and price-friendly alternative to Adobe’s design products, namely Adobe Photoshop, which costs 80 per cent less.

A statement says Pixlr’s new tabbed mode for PWAs enhances productivity. How does the new tabbed mode for PWAs on Chrome OS enhance productivity for Pixlr users?

The new tabbed mode for PWAs on Chrome OS enhances productivity for Pixlr users by allowing them to manage multiple editing projects simultaneously within separate tabs. This feature streamlines the workflow, making it easier to switch between tasks, organise workspaces, and access various tools without needing to open multiple instances of the app.

Pixlr also claims it can transform classrooms into creative studios. How does Pixlr transform classrooms into creative studios, particularly in educational settings?

Pixlr’s accessibility and ease of use transform classrooms into creative studios by enabling students to undertake complex visual projects without requiring advanced technical skills. The platform’s suite of AI-driven tools allows creative exploration and experimentation, fostering an engaging learning environment. This capability encourages students to express their ideas visually, enhancing their creativity and collaboration skills in educational settings.

The post Pixlr can transform classrooms into creative studios: CEO Warren Leow appeared first on e27.

WeSale, a real estate trade platform in Vietnam, has raised an undisclosed seed investment from Singapore-headquartered Hitseries Capital.

The startup will use the money to develop and upgrade the platform, expand markets and develop new products and services.

WeSale is a proptech platform connecting partners, individuals and organisations to project owners and developers. By applying WeCRM technology, real estate transaction tools, and generative AI, WeSale aims to improve the quality of consulting and transparent and effective real estate transactions for members, brokers, business partners and project development units.

Also Read: The D&I advantage: How inclusion fuels growth in Vietnamese real estate

Mai Lam Toi, CEO of WeSale, said: “WeSale completes a superior technology platform to build a strong sales force supported by versatile sales tools, supported by a team of knowledgeable sales experts.  experience supports transactions to become fast and transparent.”

Hitseries Capital provides growth-as-a-service (GaaS) to its portfolio. The firm invests in AI/ML, vertical SaaS applications, connected IoT, healthcare, mobility, fintech, and marketplace across Asia Pacific.

The VC firm earlier invested in Tanaakk and icuco.

According to the Vietnam Real Estate Association, the country’s real estate sector will be worth over US$1.23 trillion by 2030. This large market will facilitate the development of technology-enriched platforms as the demands for buying, selling, and managing property become increasingly sophisticated.

—

 

The post Vietnam’s proptech startup WeSale bags seed capital from Hitseries Capital appeared first on e27.

In June 2023, Malaysia-based car e-commerce platform CARSOME announced a funding round that raised its total capital to US$200 million.

Last week, at the sideline of BEYOND 2024 at The Venetian Cotai Expo, Macau, e27 caught up with CARSOME Co-Founder, Chairman & Group CEO Eric Cheng to find out the latest updates from the company since the announcement.

According to him, last year, the company had been focusing more on readjusting its business.

“Much effort has been focused on how we looked at the business in the current market climate, especially since it is not just about growing. It is also about making sense of every single cost line … and that everything translates into your EBITDA profitability. We achieved that in the last quarter of last year. We now have our first profitable quarter in Q1 this year,” he said.

“Because, especially within the used car industry in Southeast Asia (SEA), there used to be a lot of different platforms and competitions in the market. But many of those companies have gone quiet, or do not even exist anymore in the last 12 to 18 months. So, it is safe to say that we have done a really great job in making that achievement, that milestone. Leveraging from last year, we are focusing on building our first profitable year.”

Also Read: Carsome acquires WapCar, AutoFun to strengthen automotive content strategy

During our conversation, Cheng discussed the notable changes in the region’s used car market. While the COVID-19 pandemic led to a pause in car trading for many customers, the situation improved “really quickly” right after that. Pent-up demand accelerated especially in 2021-2022.

“The market for used cars itself has always been growing. For the last two years, what we have seen is that the growth continued to be there. But, of course, it has normalised to the level before the pandemic. It also helps us continue growing as a business because we are not building a business where the market stays stagnant. We are building a business that continues to be growing,” Cheng says.

“Building up on top of our core business transaction is important. We are also rolling out more services to capture the opportunity.”

For CARSOME, this includes including new car offerings in their platform, which used to focus solely on used cars. “This is something that we started immediately post-pandemic because we saw an opportunity to.”

When asked if there has been any change in how they acquire new users with all of these changes, Cheng says the company continues to focus heavily on digital marketing.

“What we see in the last 12 months is that the platform of CARSOME has already built a strong brand equity. That helped us to really establish a good top of mind,” Cheng says.

Also Read: Carsome acquires majority stake in Singapore’s CarTimes Automobile

Shifting gear into the future

When asked about the most valuable lessons the company has learned in its journey, Cheng says that focusing on profitability requires CARSOME to undergo a “big mindset shift.” This can be challenging for a startup, especially as it has been around for a long time as a venture-backed business.

“In the beginning, we have been very focused on expansion and growth. Switching into that mode of thinking of going after profitability requires a big cultural shift. So, I think the biggest achievement so far is successfully adapting to that new environment,” he says.

When asked about what the company wished to achieve in the future, Cheng said that it wants to continue to double the number of car sales, from 150,000 cars per month in 2023 to 500,000 in 2024. It also wants to continue growing its financing solutions services.

“We think there is more room for us to offer financing solutions and insurance as after-sales to our customers, which is still at a very nascent stage of us rolling it out to border markets. These are some of the focuses we are doing now to stay in line with our vision of becoming a full-fledged car ecosystem in Southeast Asia,” Cheng says.

“The Philippines is also a new market that we just went into; we also hope to see scaling opportunity over there.”

The post Riding into its first profitable year, CARSOME looks forward to strengthen its presence in the Philippines appeared first on e27.

With rapid advancements in artificial intelligence (AI), Malaysia stands at the threshold of a transformative era. As AI technologies permeate various sectors, including healthcare, finance, and manufacturing, the Malaysian workforce is poised for significant changes.

According to a report by Precedence Research, the global AI market is projected to reach approximately US$2,575.16 billion by the year 2032, showing significant growth from the current value of US$454.12 billion in 2022. This translates to a compound annual growth rate (CAGR) of 19 per cent from 2023 to 2032. 

AI-powered technologies have garnered widespread recognition for their ability to revolutionise various industries. From enhancing operational efficiency to driving innovation and improving customer experiences, AI holds the promise of reshaping how businesses operate and compete in the modern landscape. Its applications span across diverse domains, including healthcare, finance, manufacturing, retail, and beyond.

However, despite these staggering numbers, only 13 per cent of organisations in Malaysia are fully prepared to deploy and leverage AI-powered technologies. This statistic underscores a significant gap between the potential benefits of AI and the readiness of businesses to embrace them. 

Several factors contribute to this gap, including a limited understanding of AI’s applications and benefits, concerns about implementation costs and complexity, a shortage of skilled talent proficient in AI, and organisational inertia or resistance to change.

Addressing concerns of professionals: AI as a threat

As Malaysia delves deeper into the AI landscape, it’s clear that despite its growing accessibility, there remain substantial concerns impeding its widespread adoption in workplaces. These include technological limitations, risks to privacy and security, resistance stemming from cultural factors, and a shortage of AI-skilled professionals. In light of these concerns, it’s reasonable that many businesses approach AI cautiously, thus limiting the realisation of its full potential.

Also Read: Embracing AI’s promise: Navigating the future of marketing

A study showed that 62 per cent of respondents in Malaysia are worried that AI will replace their jobs, but 84 per cent would delegate as much work as possible to AI to lessen their workloads. This indicates a complex mix of fear and acceptance towards AI in the workforce.

It suggests that while there is concern about job security, there is also recognition of the potential benefits of AI in increasing efficiency and productivity. This underscores the evolving landscape where individuals grapple with the prospect of automation reshaping traditional employment structures, even as they recognize its potential to enhance operational effectiveness. 

Assessing the level of awareness among Malaysians regarding AI technologies is crucial. Understanding the perceived benefits and concerns surrounding AI adoption helps shape public discourse. The role of public discourse, education, and media in shaping perceptions cannot be overstated. Increased understanding and adoption of AI can propel Malaysia towards its goal of becoming a high-income nation.

Enhancing productivity, innovation, and competitiveness through AI integration is key. Leveraging AI for inclusive growth and addressing socioeconomic disparities is imperative. Aspirations for AI education and skills development in Malaysia include promoting AI literacy and fostering a culture of innovation and entrepreneurship.

AI technologies and how they’re shaping Malaysia’s AI landscape

The adoption of AI technologies has the potential to significantly contribute to Malaysia’s economic growth by unlocking new sources of productivity, efficiency, and innovation across various sectors. AI-powered solutions can automate repetitive tasks, optimise processes, and enable data-driven decision-making, thereby enhancing overall productivity and competitiveness. As businesses leverage AI to streamline operations and create value, they can drive economic expansion, attract investment, and stimulate job creation.

AI technologies have the potential to revolutionise productivity across a wide range of sectors in Malaysia, including manufacturing, healthcare, finance, agriculture, transportation, and services. By leveraging AI-driven automation, predictive analytics, and intelligent decision support systems, businesses can optimise processes, improve resource allocation, and deliver more personalised and efficient services to customers. This increased productivity not only drives economic growth but also enhances the quality of goods and services available to consumers.

Also Read: Human-AI collaboration: The key to unlocking Gen AI’s potential

Collaboration with educational institutions, government agencies, and industry partners is crucial for progress. For us at Ever AI Technologies, this collaborative spirit, aiming to break down traditional barriers to AI access and knowledge, is what drives our mission to democratise AI in Malaysia and beyond. By fostering a culture of innovation and inclusivity, we believe that Malaysia can truly harness the power of AI for sustainable growth and development. 

Towards a bright future with AI and innovation

As Malaysia embraces the AI revolution, it faces both challenges and opportunities to reshape its workforce and economy. By fostering awareness, addressing concerns, and promoting education and innovation, Malaysia can harness the transformative power of AI to drive sustainable growth and prosperity. Many companies stand at the forefront of this journey, committed to empowering Malaysians with the knowledge and skills needed to thrive in the AI-driven future.

In conclusion, Malaysia’s journey into the AI landscape is characterised by potential, challenges, and opportunities. With the right strategies and collaborations, Malaysia can navigate this revolution successfully, transforming its workforce, economy, and society for the better. As the nation moves forward, embracing AI with awareness and foresight will be key to unlocking its full potential.

—

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

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

Image credit: Canva

The post How can Malaysia leverage AI for growth and not see it as a threat? appeared first on e27.

The impact of Generative AI is everywhere — just take a look around.

If you look past ChatGPT, you see products like Adobe Photoshop incorporating it into their tools. Want a lighthouse in your desert photograph? Generate it. Want to know what Harry Potter would look like in anime form? Generate it.

Your productivity note-taking app will summarise your notes for you, edit your writing tone, fix your grammar. Your mobile-phone will generate text-to-speech in the likeness of your own voice.

Beyond everyday consumer use, Generative Artificial Intelligence (Gen AI) is proving its potential to be enormously helpful. For pharmaceutical companies, Gen AI could design proteins for medicines, which will solve a massive challenge that has plagued geneticists and pharmaceutical developers for decades. In manufacturing, Gen AI can create machine parts and optimise design to minimise waste and increase speed and efficiency.

In fact, Gen AI could be the invisible hand that shapes what we interact with in the world around us —designing the buildings we work and sleep in, the parks we walk our dogs in, and the roads we commute upon.

Collaboration between humans and artificial intelligence (AI) is more impactful than it has ever been before. While the AI of the past was stagnant — you make a request, and whatever the AI outcome is, you take it or you leave it. With generative AI, there is back and forth to refine and redefine continually. This is collaboration in order to achieve specific results.

With Gen AI, be intentional with risk-taking

That is the key to Gen AI of the present – collaboration. It will take immense collaboration to mitigate the tidal wave of risks involved with generative AI. As we are discovering the capabilities of Gen AI in our everyday lives, we need to have data privacy, algorithmic bias, explainability, fairness, and accuracy on our radar.

Also Read: The Future of CRM: Transforming customer experience with Gen AI

It is almost certain that there are dangers we have yet to fathom. After all, we do not know what we do not know.

We will need true collaboration with fellow humans to ensure Gen AI will serve the good of society and be used as ethically as possible. As with any powerful, potentially dangerous tool, like cars and weapons, AI should be strictly regulated with frameworks to guide responsible development and deployment.

In March 2023, after calls by over 1,000 tech workers for a pause in the training of the most powerful AI systems, UNESCO called on all governments to fully implement its Recommendation on the Ethics of Artificial Intelligence immediately. The organisation argued that “industry self-regulation is clearly not sufficient to avoid ethical harms.”

The future of generative AI depends on how we behave today

A very real and conspicuous controversy shrouding Gen AI is how it is impacting jobs. Already, artists are using AI art generators, and writers and creators everywhere are disgruntled, anxious or apprehensive about Gen AI.

Stability AI’s Founder and CEO, Emad Mostaque, is convinced that AI will “create brand new industries”, which will “create loads of new jobs.” While that might be true, current jobs are already being displaced.

We need to be very careful. This phenomenon of technology displacing jobs is nothing new—people have argued that machines have been taking their jobs for decades now, but generative AI is growing at a furious pace, and the world is enamoured by it.

Currently, its main victim seems to be the creative industry, one of the few industries where everyone actually wants to do their job. It will be a bleak place if we replace the artists of the world with artificial intelligence.

Instead, we need to make sure AI pushes all of society forward. To replace mundane tasks to free up time for more meaningful work. To solve problems, we could not before. But it is not something that artificial intelligence can achieve on its own.

Also Read: Collaboration and a sense of urgency: What it takes to support climate tech startups in Southeast Asia

What it needs as guidelines is intentional, radical collaboration between humans. A shared understanding of what AI should be used for and how it should be used.

Education with collaboration

In order for this collaboration to happen, we will need mass education to prepare individuals for the future of work. Organisations like SGTech and SkillsFuture could collaborate and develop courses that introduce basic AI knowledge for people in all stages of life and their careers, and how they might use it for their benefit.

In order for Singapore to stay ahead of the curve, we need to learn fast. The Gen AI era is here to stay, and will only evolve and grow. To make sure our futures are bright, we will need collaboration that is regular, institutionalised, and designed with purpose.

—

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

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

Image credit: Canva

The post Human-AI collaboration: The key to unlocking Gen AI’s potential appeared first on e27.

The race towards net-zero emissions is intensifying, and electric vehicles are at the forefront of this green revolution. Imagine a future where Southeast Asia’s bustling cities are powered by clean energy, with electric vehicles (EVs) zipping silently through the streets, reducing pollution and dependency on fossil fuels.

This vision is becoming a reality. As Southeast Asia gears up to embrace this change, investors have a unique chance to capitalise on a market poised for explosive growth and innovation.

The Electric Vehicle ecosystem involves a diverse network of stakeholders, including original equipment manufacturers (OEMs), charging infrastructure providers, battery swapping services, fleet management companies, and other related services.

When investors express interest in the EV sector, it’s essential to understand precisely where they are directing their investments. Choosing the right focus area within this complex web is crucial for success in this rapidly evolving industry.

Globally, the demand for EVs has been rapidly increasing. Sales rose by about 30 per cent in 2023, and while this is slower than the impressive  54 per cent growth observed in 2022, the market continues to evolve with strong momentum. Projections indicate that EV adoption will reach 86 per cent by 2030, more than double the 40 per cent previously projected in April 2023.

Also Read: Infographic: A visualisation of Indonesia’s electric vehicle transition

Several driving forces contribute to this rapid ascent:

• Government policies: Governments around the world are announcing a growing number of net-zero targets to meet the commitments of the Paris Agreement, which has trickled down to decarbonising the transportation sector.
• Product variety and quality: There are now a variety of EV options with more designs, better quality, and longer range, especially from manufacturers in China, the US, and Europe.
• Technological advances: Competition among global players has driven costs down. The cost of lithium-ion batteries, which make up about 40 per cent of EV production costs, has plummeted by 97 per cent since 1991 and is expected to continue to fall by an average of 11 per cent per year through 2030. Demand for batteries remains high, prompting a surge in battery manufacturing plants worldwide.

Few sectors today enjoy such strong macro tailwinds. Many global private and public investors have profited from the IPOs of Tesla, XPeng, Nio and BYD. Yet, we are still scratching the surface as global EV penetration is still relatively low, accounting for somewhere between 14 and 18 per cent of car sales in 2023.

The good news is that investors in Southeast Asia can still benefit from the growth of the EV sector. While the adoption in Southeast Asia is still in its infancy and lower than the global standards, there exists a delicate balance of investment opportunities and challenges.

Some of these opportunities include:

• Abundance of raw materials: The region is well-positioned to become a strong EV supply market given the availability of raw materials in the region. Indonesia is home to 22 per cent of world’s nickel reserves, a crucial material for EV battery cathodes.
• Large market potential: The region’s growing 690+ million population, with over 240 million motorised two-wheelers (2w) and 75 million cars (4w) represents a significant and attractive market.
• Government Incentives: All Southeast Asian governments have set goals and incentives for EV adoption, ranging from tax breaks, exemptions from odd-even plate rules, and reduced fossil fuel subsidies (although the success rates differ from country to country).

On the flip side, there are also mounting challenges facing the region:

• Market fragmentation: The fragmentation of the markets meant that we were unlikely to enjoy the economies of scale to rival that of China and the US.
• Manufacturing expertise: The region faces a disadvantage compared to global competitors due to a lack of expertise in EV manufacturing and supply chain management.
• Charging infrastructure: A severe lack of charging infrastructure is unable to assuage range anxiety for long distance driving, hampering EV adoption.

To navigate these opportunities and challenges, let us deconstruct the EV ecosystem into three key areas:

• Original Equipment Manufacturers (OEMs)
• Infrastructure
• Services and enablers

Original Equipment Manufacturers (OEMs)

EV OEMs are companies responsible for designing, producing, and assembling essential components of EVs. These components include batteries, electric drivetrains, chassis, charging systems, and other parts crucial for functionality and performance. They can be broken down further in 4W and 2W of which the latter has seen very strong interest from regional investors.

Also Read: The growth of electric vehicles is saving the planet, one trip at a time

Some notable examples of 2W in the region include DatBike, Edde Rides, Charged Asia, Electrum, Volta, & Alva. While various business models exist, OEM operations are generally capital-intensive – manufacturing EVs and managing the supply chain require substantial investment. Unlike Internal Combustion Engine Vehicles (ICEs), EVs have fewer moving parts. Consequently, the sector has lower barriers to entry, leading to a proliferation of 2W EV brands in Southeast Asia.

Winning and dominating the market are likely to be determined by several factors, including a differentiated brand and design that resonates with Southeast Asian aspirational consumers, the broadest coverage of distribution and accessibility, superior product performance and driving and riding experience, and the most efficient manufacturing and supply management.

Infrastructure

EV infrastructure encompasses essential structures, machinery, and equipment to support EV adoption. This includes charging stations, battery swapping facilities, and end-of-life battery recycling. Investment in this sector tends to be capital investment-intensive, especially in battery leasing and swapping services where working capital plays a significant role.

While the technology is reaching maturity, digital tools, software, and data would enhance operational efficiency. Success hinges on securing financing from deep-pocketed funds (such as infrastructure funds or bank debt) and executing its business plan flawlessly.

For instance, in the competitive landscape of charging infrastructure and battery swapping, players like Eboost and Tiger New Energy must secure prime real estate locations, establish strong partnerships with utility providers and local governments, invest in skilled manpower for operations, maintenance and security, and potentially explore franchising models to scale. In battery recycling, securing proprietary feedstock channels at competitive prices will become a critical differentiator.

Services and enablers

EV services and enablers, a lighter facet of the EV ecosystem, encompass a wide range of offerings and support systems aimed at facilitating the adoption, maintenance, and efficient use of electric vehicles. These services span various areas, including logistics (leveraging EV fleets), vehicle servicing, battery intelligence systems, fleet management (both software and know-how), and financing/leasing.

A critical differentiator for EVs, compared to ICEs, lies in their data-integrated telematics capabilities. EVs generate substantial driving, performance, and telematic data during operations, which presents exciting opportunities.

For instance, battery performance data could revolutionise EV underwriting, creating a secondary market for the industry. Insurance premiums could be tailored based on drivers’ behaviour, and resale values could vary depending on vehicle ownership. Logistics companies like APX, Mober, Dash, and Blitz can track driver/rider behaviour and performance, incentivising better delivery outcomes.

Observations from our 10 months of analysing the Southeast Asian EV market reveal compelling investment opportunities. Many venture capitalists and infrastructure investors in the US, Europe, and China have already reaped rewards. Favorable macroeconomic and regulatory conditions, increased EV choices, cost parity with internal combustion engines (ICEs), improved charging infrastructure, and growing consumer awareness drive this trend.

However, challenges persist: Southeast Asia lags in manufacturing know-how, talent availability, and fragmented markets. Investors must also choose their focus, given the wide variety of ecosystems that present different risk/reward scenarios.

From a climate perspective, we also have to bear in mind that the only way to get to zero-emission driving is to decarbonise the grid, even with breakthrough EV penetration, Southeast Asia’s grids still rely on coal, fossil gas, and other polluting fuels, a significant issue that must be addressed.

The Radical Fund is seeking business models that are capital-light while delivering a twin strategy of scaled commercial and climate impact. Please reach out to us for feedback or comments to share regarding the EV industry in Southeast Asia.

—

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

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

Image credit: Canva

The post Electrifying Southeast Asia: Unleashing the radical potential of electric vehicles appeared first on e27.

Some years ago, a close university friend was urgently seeking a management role in finance. She requested that I introduce her to my contact, Mr. E, a long-tenured executive at a prominent local bank where he held a high-level position. As a family friend of many years, I was happy to facilitate the introduction as I knew my acquaintance possessed strong qualifications. However, I failed to confirm whether she sincerely desired the job.

Given my deep relationship, Mr. E took the time to personally interview her and offered her a role with excellent growth potential. To my dismay, she resigned only two days later. It became clear she had merely been awaiting another offer and departed without regard for the impact on myself or the bank.

I sincerely and deeply apologise to Mr. E for wasting his valuable time and for not realising my associate might treat the introduction casually. He graciously accepted my apology and underscored the importance of reputation in business circles.

“Relationships and networks are the lifeblood of commerce in Asia. Use them prudently,” was the essence of his counsel. It was a lesson I have carried with me. To this day, out of continuing embarrassment, I have not requested any further introductions from Mr. E, wary other referrals could similarly sour.

The importance of reputation and relationships in Asia

The power of relationships, often referred to as “guan xi” in Mandarin, has been well documented across Asia. In many Asian cultures, relationships are even more integral to business dealings and success.

When asking someone for a significant business favour, especially one that could impact their reputation or career, the requestor will carefully consider the risk involved, the strength of the relationship, and any potential benefits.

Also Read: Optimising workplace engagement in the digital era of productivity

For example, one startup founder was denied banking services after an assessment. Frustrated, he pointed to other similar startups that received facilities.

“Do I need to be your childhood friend to get the same treatment?” The unfortunate answer is often yes, to an extent. I knew the bank’s CEO and inquired about the differing decisions.

He explained that granting facilities to this startup carried too much risk since they lacked familiarity. However, he said, “If you’re willing to endorse them, I’ll approve it, but your reputation will be attached.”

While unstated, we both understood endorsing them could impact future assessments of my own credibility should I someday seek similar services. Not wanting to endanger my reputation, I declined to recommend the startup out of caution for what might occur if things went wrong.

Building connections

For an entrepreneur, building connections and working with various stakeholders throughout the value chain are essential. Connecting with associates or senior leadership at large multinational corporations can provide access to strategic resources. Entrepreneurs may also collaborate across borders and industries to deliver more robust solutions to major clients. Ultimately, cultivating useful, trusted relationships is important for business growth.

However, establishing such connections can be challenging, especially for newer entrepreneurs lacking an established network. Traditional outreach methods like cold calling or LinkedIn may yield inconsistent results. A preferable approach leverages one’s own contacts, such as close colleagues or mentors, to facilitate warm introductions to targeted individuals. Trusted intermediaries can help validate credibility and increase the likelihood of a successful initial interaction.

Overall, strategically developing professional relationships through referrals from within one’s own network may represent the most effective pathway to expand opportunities and resources over time. Ongoing relationship building remains a core competency for entrepreneurial success.

A cost to reputational capital

Before asking others to introduce you, remember that introductions require reputational capital from the introducer. For example, when introducing a startup founder to senior associates via email, my own reputation is at stake. Associates will respond based on their familiarity with and trust in me, believing that due diligence has been performed regarding the introduction. Simultaneously, introductions create an obligation — the introducer expects a favour to be returned if called upon.

For this reason, I am sometimes forthright when asked for introductions, only agreeing if trust is established in the person, and I am willing and able to reciprocate future favours to associates.

Respecting introductions

Having facilitated many introductions between startup founders and contacts, I have experienced both positive and negative outcomes. There are important factors to consider both when requesting and receiving introductions from others.

Also Read: The 3 questions that will help maximise every entrepreneur’s productivity

Do:

• Thank the contact for their time and consideration. Respond promptly, within 24 hours of the introduction if possible, to respectfully acknowledge their outreach and express your appreciation for the opportunity to connect.
• Be clear and specific regarding your objectives for the initial discussion while remaining open-minded to the contact’s perspectives and priorities. Rather than an open-ended meeting, outline how you hope your discussion might help address mutual interests or needs.
• Arriving early for any in-person meetings is a sign of your professionalism. Punctuality shows respect for the contact’s time and consideration.
• Acknowledge the relationship between yourself and your introducer to provide helpful context. For example, note if they previously mentored or collaborated with you.
• Throughout any discussions, maintain the highest levels of courtesy, respect and integrity. Remember, the introducer has entrusted you with representing them positively. Where applicable, consider modest incentives that might benefit both the contact and your introducer, recognizing their established relationship.

Expressing gratitude with sincerity

As a mentor, one disappointment I sometimes face is losing contact with founders after making introductions on their behalf. Even if follow-up occurs, the communication sometimes lacks sincerity and only aims to request more introductions without cultivating the relationship. It is unsatisfying to feel used solely as a resource without acknowledgement as a person.

When providing introductions, mentors like myself do so in a spirit of goodwill, hoping to help others progress in a reciprocal manner. Introductions are made with the trust that recipients will respect the connection and express proper gratitude.

Fortunately, some founders demonstrate appreciation admirably. Some promptly updated me on the progress of the introduction and reiterated their thanks. They offered to return the favour by helping those I referred to them.

Others express gratitude more personally through thoughtful gestures such as thank you notes or buying coffee. As a result, bonds of trust have formed, and new professional networks have been established.

In Asia, relationships are built on trust and reputation. Therefore, as a founder expands, introductions and connections should be treasured. The way one handles these interactions reflects one’s reputation, which can make or break important deals. Expressing sincere gratitude is key to cultivating strong, lasting professional relationships.

—

This article first appeared on TRIVE’s internal knowledge sharing.

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

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

Image credit: Canva

The post Relationships and networks are the lifeblood of commerce in Asia appeared first on e27.

To this day, I don’t know how I managed to keep working despite the frequent daily trips to the bathroom and the abdominal pain since November 2022. However, back then, standard anti-diarrhoea medication still had an effect.

I even flew to the Philippines in November to moderate a blockchain gaming panel at the Philippine Web3 Festival. Then, in December, I went to Bangkok to help organise, host and cover the first Polygon Guild Bangkok Meetup.

Honestly, I didn’t even mind or show anyone any signs of the pain I was feeling. It would be different, of course, when I got back to my hotel.

But I’m a long-time believer in the power of technology for good and have fully embraced Web3 as the future. I was too excited to attend my first on-ground events since the pandemic and meet up with all the wonderful people in Web3 – many of them for the first time in real life – to let pain stop me. 

I think that’s what helps us keep going even when times are really tough. Faith in something bigger than we are. The desire to help others instead of just focusing on our own problems. The sense of responsibility I feel, as someone privileged to belong to the digital haves, to help the digital have-nots and bridge the digital gap.

Crypto Winter taught us to become resilient. It weeded out those who truly saw Web3 as a revolutionary force and focused on creating long-term value from those who were only motivated by greed and wanted cash grabs.

Now that Crypto Winter is thankfully over, the Web3 individuals and organisations that have kept the faith emerged stronger in 2024.

Others ran away. They kept building.

Learn to let go and don’t be afraid to ask for help

Still, resilience doesn’t mean ignoring our limitations. As with cancer, you can’t be a control freak in Web3. You need to be fully aware of your strengths and weaknesses. You can’t be a lone wolf, but you should be willing to collaborate with others and accept help when needed.

It’s been a bitter pill for me to swallow, but I can’t do a lot of things for myself anymore. Physically, I have lost almost 30 kg, the lightest I have ever been since college or during my early days as an employee. Sure, when I was obese, I wanted to one day reach my ideal weight, but cancer definitely wasn’t what I had in mind.

Also Read: What living with the Big C has taught me about Web3 (Part 1)

For someone who enjoys taking long walks and travelling inside and outside the country, I’m now mostly confined to our house. I’m immunocompromised, so I have to wear a mask again outside, avoid crowds, and visit malls only during weekdays and near opening hours, if at all.

Mostly, I just leave the house to go to the hospital, enjoy the condo facilities, and sometimes accompany my wife to the grocery store since a small community mall is directly connected to our building. Even then, I have to watch out because I randomly get tired and dizzy, particularly a week or so after a chemo cycle. 

I now need to use a cane when I’m inside the house and a wheelchair when I go out. It took my wife a long time to convince me because it made me feel so helpless. But I learned to accept that it was for my own good because it would be worse if I suddenly collapsed while walking outside.

In March, I was confined twice for a total of two weeks. First, due to an infection that caused me to be admitted during the first two days of critical care because my blood pressure plunged to 60/40, I was suffering from a fever, and the doctor wanted to guard against sepsis.

Then the most recent one because my blood count kept dropping even after the infection was cured. A new blood culture revealed that my bone marrow was dysplastic, meaning new blood cells were dying before they could reach maturity and be released into my bloodstream. Thankfully, no presence of lymphoma has been detected in my bone marrow. Instead, it seems my immune system is attacking my bone marrow, so my doctor started me on a new regimen to treat this.

Also, no matter how much food I try to eat, my body is not absorbing nutrients properly. So during my confinement and for the first two weeks after I was discharged, I received parenteral nutrition, receiving nutrients intravenously.

My chemo infusions increasingly became more aggressive as the treatment was tweaked based on my response and progress. The first three cycles were already more aggressive than the usual CHOP chemo treatment. Instead, we opted for CHOEP, which stands for cyclophosphamide, doxorubicin (hydroxydaunorubicin), vincristine (for its brand name Oncovin), etoposide, and prednisone/prednisolone. This required a two-day infusion because of the additional drug etoposide. 

After the third cycle, my doctor ordered another scope and biopsy. He then recommended switching to an even more aggressive chemotreatment because we hadn’t made as much progress as we initially expected. So, the next three chemo cycles, which were supposed to be the last three, made use of dose-adjusted EPOCH. The same combination of drugs, but now infused for five days for 24 hours.

Dose-adjusted EPOCH truly was aggressive. During and after every cycle, my immune system would suffer greatly. My blood counts would drop drastically, even though since the start of the first chemo cycle, I was being injected with a booster that would stimulate the production of white blood cells. Even so, sometimes, I needed to be confined because of a fever caused by an infection, despite taking every precaution.

Prepare a game plan but don’t get too attached to it

The original plan was for me to undergo six chemo cycles, followed by an autologous stem cell transplant after MEITL was wiped out. My healthy stem cells would be harvested after my bone marrow healed. Then stored and reinserted into my body to replace the stem cells that were destroyed by chemo. Again, this medical procedure (which is rather expensive, by the way, because it’s not exactly a routine operation) doesn’t guarantee survival. But it does give me better odds.

As the popular adage usually attributed to Prussian General Carl von Clausewitz reminds us, but, according to Quote Investigator, it was actually first written in an 1871 essay by Prussian Field Marshal Helmuth von Moltke the Elder in this form: “No plan of operations extends with any certainty beyond the first encounter with the main enemy forces.” 

Or, better yet, as Mike Tyson eloquently put it, “Everybody has plans until they get hit for the first time.”

Also Read: To leverage Web3 technologies, Web2 companies may start by building the right culture

MEITL was still around after the sixth chemo cycle, as the biopsy and PET (positron emission tomography) scan showed. So, the original plan was off the table. My doctor asked if I wanted to take a calculated risk. We could do two additional chemo cycles but use a different drug that would be more targeted. He said it would be pointless to keep trying the same combination of drugs that have already failed. 

He proposed the chemo drug cladribine. It’s not an experimental drug, but it would take some time to be processed for delivery because it’s not a common drug stocked in the hospital. Plus, this would be an off-label use since normally it’s used to treat hairy cell leukaemia and B cell chronic lymphocytic leukaemia. Still, the pros were that normally, it would have less of an impact on the immune system than my previous chemo drugs and could be infused for seven days for 24 hours. Bonus: it doesn’t cause any hair loss. So, after my wife and I discussed the pros and cons, I decided to go for it. After all, my sixth chemo cycle had already ended on November 15th, and MEITL is an aggressive lymphoma.

Since it would take time to get the permits and have the drug delivered, I was able to spend a holiday at home with my family for the first time in 2023. For some reason, my chemo cycles and emergency confinements always coincided with a holiday. The doctor said I could rest in December after I told him that my daughter and I have birthdays that are close to Christmas. He estimated that the new drug would arrive in time for a seventh cycle that would see me spending New Year’s Eve in the hospital. I was more than fine with that.

That was my December miracle. My wife and I were so optimistic. MEITL was still there beneath the surface, but the many tiny ulcers on my colon that were the outward manifestation had been wiped out. The PET scan showed that only a small area was lighting up, so surgery might now be an option after the eighth cycle if MEITL remained localised. I felt stronger than I had ever been since the start of chemotreatment. I was even able to go to the mall occasionally and didn’t even need a cane or wheelchair.

Originally, my wife and I had been convinced that six chemo cycles would be enough to get rid of MEITL. We truly believed that. Now we were sure that the two extra cycles would finish the job.

But as in Web3 and in most things in life, things don’t always go according to plan. Even if you did all the right things, checked all the required boxes, followed all the best practices. My body didn’t react as expected. The arrival of the drug had been unexpectedly delayed, but I finally began my seventh chemo cycle on Jan. 15th. This seventh chemo cycle was fine. While I felt more weak and tired than I was after my first six cycles, my immune system and blood count numbers were more stable.

But the eighth and last cycle really threw me for a loop. Even before the seventh day on Feb. 21st, my blood test was showing that my numbers were plummeting. I had to receive blood transfusions for the first time in my life.

Post-cladribine me is shockingly different inside and out. The normal range for white blood cell count ranges between 4,000 and 11,000 cells per microliter. When it falls below 1,500, this is considered neutropenia, which can range from mild (1,000-1,500), moderate (500-1,000), to severe (less than 500). Mine dropped to 40-50 during confinement and the succeeding thrice-a-week doctor appointments to take blood tests, boosters, and blood transfusions. 

It has already been two months of constant treatment post-chemo, but as of this writing my white blood cell count is just 1,600. Worse, my latest biopsy confirmed what my wife and I already knew in our hearts. My MEITL was still around. Not only that, but also three large ulcers have taken the place of the tiny ones that were wiped out, and now surgery is no longer a viable option.

My haematologist has also candidly told me that my body can no longer tolerate any additional chemo infusions.

For now, the focus is on addressing the immune system attack on my bone marrow and managing my symptoms to improve my quality of life. I’ve actually had a healthier appetite and eaten a lot more in the past two weeks, which is why they took me off the twice-a-week visits to the daycare for my parenteral nutrition. Instead, every Saturday is now daycare day for my regular blood test and, if necessary, a blood transfusion.

Honestly, the only viable medical treatment left is oral chemodrugs. Of course, taking them would carry its own risks. At any rate, even if we do consider it, it’s off the table until my bone marrow heals further and my blood cell counts improve a lot more.

My doctor, wife and I perfectly understand that this won’t be anytime soon.

The last resort would be clinical trials for new drugs. I haven’t checked it out yet, but in the US, a Phase 1 human trial for a new drug is looking for test subjects for different types of cancer, including MEITL.

Of course, we know what clinical trials entail. Assuming I qualify, I’m agreeing to be a guinea pig who could die even sooner than I might have. 

—

Part two of a three-part series, continuation to follow next week.

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

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

Image credit: Ian Schneider on Unsplash

The post What living with the Big C has taught me about Web3 (Part 2) appeared first on e27.