Millennials Muslims in Indonesia are more confident about using AI tools for travel recommendations than their counterparts in Singapore and Malaysia, according to a new survey by Muslim-focused travel platform Have Halal Will Travel (HHWT).

While 78 per cent of respondents in Indonesia show confidence in AI tools for Muslim-specific travel recommendations, the figures are 36 per cent in Malaysia and 31 per cent in Singapore.

Indonesian Muslims (54.5 per cent) are also ahead of their Singapore (31.8 per cent) and Malaysian (21.4 per cent) counterparts when it comes to using generative AI for travel.

Since the launch of OpenAIʼs ChatGPT service last December, Millenial Muslims have started using Generative AI in their daily lives.

Sustainable travel is also important to Muslim travellers. About 76 per cent of Muslim travellers want to travel more sustainably over the coming 12 months. However, while the Indonesian market cares about this, the survey reveals that they are less likely to pay for sustainable travel options.

Also Read: Navigating the relationship between ChatGPT and the travel industry

Inflation has also influenced Muslim travellers’ behaviour and choice of destination across all three markets.

The survey, ‘The Next Phase of Muslim Travel’, was conducted in July 2023, focusing on Millennial Muslims living in Singapore, Kuala Lumpur, and Jakarta.

Muslims account for 42 per cent of Southeast Asia’s population. Their travel spend is expected to reach US$189 billion by 2025 (SGIE, 2023).

As per the HHWT report, having a strategy to capture the Muslim audience is critical for brands looking to grow in the region.

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Image Credit: HHWT

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Neurowyzr, a healthtech company in India specialising in brain health, has raised US$2.1 million in an “oversubscribed” seed financing round.

Jungle Ventures and Peak XV’s (formerly Sequoia India and Southeast Asia) Surge led the round. Angels, such as Khoo Boon Hui, Chairman of SDAX; Ab Gaur, Founder and CEO of Verticurl; and Rob F Jablonski, Commercial Investment Director of Aquivia; also joined.

This round brings the total amount raised by Neurowyzr to US$3.3 million.

The healthtech startup will use the capital to accelerate product development and expansion across Southeast Asia and India.

The company, which has its India headquarters in Chennai, plans to grow its sales, marketing and software development teams. It is also actively building a network of medical and software distribution partners across India.

Also Read: HealthXCapital joins Jungle Ventures to lead healthcare investments in SEA & India

Founded in 2019 by Nav Vij and Pang Sze Yunn, Neurowyzr develops solutions to address existing gaps in neurology and brain health. Its first product is an online gamified digital neuroscience assessment called the Digital Brain Function Screen (DBFS), which it claims significantly reduces the time and dollar burden of traditional cognitive testing.

One of India’s largest private hospital chains recently completed a pilot of the DBFS across five locations. DBFS has been deployed in Singapore’s health screening centres, GP clinics, community care and specialist centres.

Healthcare providers use DBFS in executive health screening, health screening for active agers, Long Covid assessment packages, and also as a standalone service.

Dementia and mental health conditions are rising at an alarming rate. In 2019, 3.84 million people were diagnosed with dementia. By 2050, this will increase almost 3x.

Stroke is the fourth leading cause of death and the fifth leading cause of disability-adjusted life years in India, where one Indian suffers a brain stroke every 20 seconds. With more than 80 per cent of Indian workers reporting more than one mental health symptom, mental health issues are costing Indian firms US$14 billion annually in absenteeism, presenteeism and staff turnover.

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The image used in this article is AI-generated.

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Malaysia’s integrated re-commerce startup CompAsia has secured an undisclosed sum in a Series A investment round led by Gobi Partners.

This capital will help the startup expand across various touchpoints, bolstering human resources, training, and operational capabilities.

Additionally, the funds will be instrumental in optimising the firm’s digital assets and marketing strategies, specifically focusing on penetrating new markets like the Philippines, Thailand, and Indonesia.

Also Read: Gobi Superseed II Fund invests in Durioo+, Lapasar, Paywatch, pitchIN

Founded in 2016, CompAsia is a one-stop platform for customers to trade in or purchase pre-owned electronic devices. It also offers financing plans and other options to address customer concerns about transparency when buying such goods.

In Malaysia, in addition to providing trade-in services for used electronics at various retail partner stores throughout Malaysia, CompAsia also recently established its flagship store in Sunway Pyramid Shopping Mall. This store allows customers to trade in their used electronics on the spot.

Additionally, it is planning and expanding its presence further by opening more branches across the Klang Valley by the end of the year.

CompAsia claims it sourced and transacted over 2.1 million second-hand mobile devices from 2019 to 2022. According to the firm, its initiatives have resulted in the reduction of 420 tonnes of e-waste, conserving 46 billion gallons of water, and preventing the production of 181 thousand tonnes of carbon dioxide.

The startup has a presence in ten countries, providing solutions to technology and telco companies and retailers within the region.

“We have recently partnered with a number of major telcos around the region to assist in running their buyback and trade-in programmes, and we are going to be rolling out our device financing and device care programmes across multiple major retailers to help their businesses become more sustainable and attractive to consumers,” said CompAsia Founder and CEO Julius Lim.

Gobi Partners Co-Founder and Chairperson Thomas G. Tsao said: “Circular economy companies such as CompAsia are encouraging greener, more environmentally-friendly behaviour when it comes to our consumption of electronic goods. We hope our investment will help them expand their positive influence throughout Southeast Asia.”

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Image Credit: CompAsia.

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Indonesian brand-aggregator Hypefast has laid off 30 per cent of its workforce in a bid to maintain profitability, according to a report by Tech In Asia.

The total number of affected employees is undisclosed.

The company said that it will continue to provide affected employees with health insurance until the end of 2023, outplacement support, and more flexible timing for employee stock ownership plan (ESOP) tax payments.

Established in January 2020, Hypefast helps local brands with revenues exceeding IDR500 million (US$32,627) develop their businesses, particularly through online sales channels.

It also offers debt capital to those brands.

Also Read: The wave of layoffs in 2023 and the Vietnamese market

Co-Founder and CEO Achmad Alkatiri told Tech In Asia that the company has a net revenue of US$43 million in 2022, nearly doubling its figure from the year prior of US$22 million.

Despite the profit, Hypefast had to go through downsizing to prepare for potential challenges in 2024, which includes rising cost of sales due to increasing merchant fees and logistics fees, in addition to the uncertainty in global market conditions.

Hypefast raised its latest funding round in 2021. It secured US$19.5 million in a Series A round of investment led by Monk’s Hill Ventures with the participation of Jungle Ventures and Strive.

Waves of layoffs in the Southeast Asian tech startup industry, including Indonesia, continue to happen this year. It affects tech companies of various verticals and sizes.

This week, property tech giant PropertyGuru announced that it is ceasing its marketplace in the Indonesian market Rumah.com, together with its SaaS product FastKey.

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Women’s leadership in the health sector is a pressing issue that deserves attention. As the sector evolves to address the world’s healthcare challenges, the role of women leaders is paramount in driving change and improving healthcare outcomes. Women bring unique insights and diverse perspectives, making their inclusion in leadership roles vital.

How AbbVie is supporting female leadership in the healthcare sector

Founded in 2013, AbbVie produces immunology, oncology, neuroscience, virology, and aesthetic medicines. 

Singapore is AbbVie’s hub in Asia, hosting its sole manufacturing plant in the continent at Tuas Biomedical Park. Since its Asia entry, AbbVie has been attempting to promote women’s leadership in healthcare.

Peggy Wu, VP of AbbVie Asia, says the company is committed to gender equity and encouraging women leaders to find their voice and bring out the best in them.

She explains that AbbVie offers roles across different countries, giving employees regional and international opportunities that enhance their leadership skills and professional capabilities. “At AbbVie, having a diverse and inclusive culture is a business imperative. It is not only the right thing to do, but it also strengthens our ability to innovate and is crucial to our ability to deliver now and into the future,” adds Wu.

As of 2022, women hold 52 per cent of AbbVie’s director and manager positions globally. In AbbVie Asia, this figure is even greater, with more than 60 per cent of women in management roles. 

The company’s women leaders in the Asia regional leadership team have diverse backgrounds from Taiwan, India, Korea, Singapore, China, Malaysia, and more.

Women’s leadership in the health sector

According to the World Health Organisation, women constitute about 70 per cent of the global healthcare workforce, yet hold only 25 per cent of senior roles. This disparity stems from systemic barriers such as gender bias, unequal education and career opportunities, and work-life balance challenges.

Gender bias manifests as discriminatory hiring, unequal pay, and limited advancement opportunities. Societal norms in some countries restrict women’s access to STEM education, and those who pursue healthcare careers face hurdles like lack of mentorship or exclusion from professional networks. The “glass ceiling” remains a significant obstacle for many qualified women.

Also Read: #She27: Celebrating 27 women shaping the future of tech

Women leaders in healthcare are crucial as they bring diverse perspectives and experiences, fostering innovative problem-solving and inclusive decision-making. They also serve as role models and mentors, promoting a culture of inclusivity and gender equality.

A study published in the Journal of the American Medical Association found that hospitals with more women in leadership roles had significantly lower mortality and readmission rates. Another study published in the Harvard Business Review found that diverse teams were more innovative and better at problem-solving than homogenous teams. These findings underscore the importance of promoting women’s leadership in the healthcare sector.

The role of women leaders in healthcare goes beyond representation. Their diverse perspectives and experiences have a tangible impact on health outcomes and innovation.

Industries taking action

The need for women leaders in the health sector is gaining attention worldwide, and several Asian health companies are actively promoting women’s leadership. Startups and healthtech companies across Asia are trying to increase women’s representation in leadership roles and address gender disparities.

MyDoc, a telemedicine provider in Asia co-founded by Snehal Patel and Vas Metupalle, is another company working towards gender diversity and women’s leadership. The Singapore-based digital healthcare platform offers a comprehensive 24/7/365 healthcare platform that connects patients with doctors, pharmacies, diagnostic labs, and clinical-grade health trackers. 

Another example is the medtech startup Janitri, based in India. Led by co-founder and CEO Arundhati Ganesh, Janitri is working to improve maternal and child health in low-resource settings. Janitri’s solutions address the urgent need for affordable and accessible healthcare for mothers and newborns.

The healthcare sector’s lack of female leaders is an ongoing issue needing collective action. The efforts of companies like MyDoc, Janitri, and AbbVie to promote women’s leadership are essential steps toward a more inclusive and equitable healthcare sector.

As healthcare continues to evolve, the insights of women leaders are paramount in driving transformative change and achieving better outcomes. By championing inclusivity and creating avenues for women to assume leadership roles, we are paving the way for a more equitable healthcare sector.

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Picture this: You’re sitting at your desk, surrounded by the gadgets that have become an integral part of your life. Your phone, your laptop, your tablet, your gaming console – they’re like old friends, always there to keep you connected and entertained. 

But have you ever wondered about what happens to these devices when their time is up? 

The answer lies in a challenge that’s impacting our planet: e-waste.

E-waste is more than just a term; it’s a growing crisis that’s silently affecting us. As we embrace the latest gadgets and upgrade to newer models, the discarded devices pile up, creating a challenge that can’t be ignored. These gadgets might be small individually, but when you consider the collective impact, the scale of the issue becomes undeniable.

Also read: Strategic content via e27 amplifies CMI’s goals beyond numbers

According to this report by Statista, the average lifespan of a mobile phone from the year 2013 to 2020 is 29 months. That means that an average person has had 3.3 smartphones in that eight-year period. Doing a bit of math on that, with Singapore’s 85 per cent smartphone use penetration rate, we’re looking at over 15 million smartphones.

That’s just in Singapore. And that’s just looking at smartphones.

Why should you care?

E-waste contains components that are harmful to the environment. If your phone, for example, reaches a landfill, chemicals like mercury and lead can seep through and contaminate the soil. Burning or incinerating it, on the other hand, will release said hazardous chemicals into the air.

Proper disposal of e-waste is a must because by doing so, we are not only preventing hazardous chemicals from polluting the soil, sea, and air, but we are also saving natural resources.

Also read: Redefining customer engagement via real-time interactivity

Ninety-eight per cent of components of electrical devices are recyclable. By properly recycling e-waste, mining for natural resources such as copper and aluminium will reduce, jobs for facilities that process recycling will increase, and prices for gadgets and devices will decrease over time.

Think about the impact you can make by making conscious choices. It’s not about giving up technology; it’s about using it responsibly. From recycling old devices, choosing products with sustainability in mind, and designing your business operations to accommodate the life cycle of your products,  you have the chance to shape a greener future. It’s about leaving a legacy of responsible consumer habits for the generations that follow.

Igniting change with the Youth E-Waste Ambassador Program

Imagine a future where the legacy you leave behind is one of positive change. As you step into the e-waste revolution, you’re joining a movement that’s bigger than any individual. Your story is woven into the fabric of this revolution – a story of empowerment, action, and hope. Your commitment today paves the way for a sustainable tomorrow.

You have the power to lead the charge against e-waste. You’re not just a bystander; you’re an advocate for change. By raising awareness about e-waste and its solutions, you’re influencing your peers, your community, and even the world. Your voice matters, and it’s time to let it be heard.

Also read: e27-Visa partnership fosters corporate-startup collaborations and growth

YEAP, or the Youth E-Waste Ambassador Program, is an initiative organised by e27 to help increase awareness of the problems, challenges, and solutions of e-waste, and empower the Singaporean youth to lead the e-waste revolution by providing resources and a platform for their voices to be heard.

So, let’s make this a story worth telling. Let’s pull the plug on e-waste and be the catalysts for change. Together, we’re shaping a world where gadgets and sustainability coexist. Your journey begins now. Are you ready to take the lead?

Join YEAP.

To be a youth ambassador, click here.

Be a YEAP partner and help us change the world. Click here for partnership opportunities.

For more insights on e-waste, and updates on upcoming programs and activities, follow YEAP on Instagram and Facebook.

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The Indonesian fintech space saw a 46 per cent decline in the number of funding secured in the first half of 2023, according to a report by global SaaS-based market intelligence platform Tracxn.

“While 2021 marked the peak of fintech funding, subsequent years have witnessed a decline. Funding in the fintech sector fell by 46 per cent in 2022 compared to the previous year, with the first half of 2023 experiencing a 38 per cent drop in funding compared to the second half of 2022. This decline has led to the least funded half-year period (H1 2023) since 2020,” the report elaborates.

Fintech startups in Indonesia raised a total of US$322 million in H1 2023, marking a sharp decline of 71 per cent and 38 per cent when compared with US$1.1 billion in H1 2022 and US$517 million in H2 2022, respectively.

The number of funding rounds also saw significant reductions, with a 26 per cent and 58 per cent decline compared with H2 2022 and H1 2022, respectively.

The tally of funding rounds documented in H1 2023 amounted to 14, which was lower than the 19 observed in H2 2022 and notably lower than the 33 seen in H1 2022.

Also Read: Blockchain disruption, EV roaming network, healthcare collaborations, and fintech expansion make waves in SEA

The report also noted that none of the companies from the Indonesia fintech space secured a unicorn status in H1 2023, while H2 2022 witnessed two unicorns.

While the downward trend was observed in seed stage investment, according to the report, this drop in funding is largely due to the significant decrease in late-stage funding. The first six months of the year witnessed late-stage investments worth US$275 million, a drop of 59 per cent and 41 per cent when compared with H1 2022 and H2 2022, respectively.

“As a consequence of the global macroeconomic slowdown, investor sentiment has been cautious, affecting funding across regions, which has led many Indonesian startups to focus more on their domestic market. However, despite the recent challenges, long-term prospects for the sector remain optimistic,” the report stated.

Another notable piece of information from the report named Jakarta as the Indonesian city that dominated the fintech funding landscape with 95 per cent of the funding raised during the period, closely followed by Surabaya with the remaining five per cent.

East Ventures, AlphaTrio and Sovereign’s Capital were also named as the most active investors in the Indonesia fintech space in H1 2023.

Also Read: FOMO acquires CapBridge, 1exchange to expand its fintech solutions

Supporting the fintech ecosystem

In order to strengthen the fintech sector’s overall health, the report highlights the importance of regulations.

“Several regulations from the Indonesian government have been implemented in P2P lending to curb unethical and financially unsound practices, by introducing new capital requirements, reworking the licensing regime, and introducing minimum equity requirements. We anticipate that these actions will benefit both customers and startups in the industry, helping to strengthen the sector’s overall health,” it said.

Recently, a venture capital (VC) association in the country also released a report and recommendation to support VC funding in the ecosystem. It included elements such as education and a clear division between the categories of startup investments.

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As the world becomes more complex and interconnected, the need for insurance has become increasingly important. However, many people still lack adequate insurance coverage, particularly in developing countries.

Fortunately, Artificial Intelligence has the potential to increase insurance penetration by making insurance more accessible and affordable for everyone.

Here are just a few ways in which AI can help increase insurance penetration.

Improving risk assessment

One of the key challenges in insurance is accurately assessing risk. AI can help by analysing vast amounts of data on individuals and businesses to identify risk factors and predict the likelihood of a claim. This can enable insurers to offer more personalised and accurate policies, making insurance more accessible to a wider range of people.

Example: Coherent Spark’s AI-powered core parses spreadsheet coding logic into APIs that integrate with any platform. With this tool, insurers can automate many processes, including risk modelling and back-office actuarial calculations, among many others.

Enhancing underwriting efficiency

Underwriting is the process by which insurers evaluate and price insurance policies. This process can be time-consuming and expensive, particularly for complex policies. AI can help by automating much of the underwriting process, reducing costs and enabling insurers to offer policies more quickly and efficiently.

Example: Artificial Lab aims to make the complex insurance underwriting process frictionless, with its single automated platform helping insurers to underwrite faster while reducing loss ratios.

Streamlining claims processing

Another key area where AI can make a difference is claims processing. AI can help insurers identify fraudulent claims more quickly and accurately, reducing the costs associated with fraud and enabling insurers to process legitimate claims more quickly. This can improve the overall customer experience and increase the likelihood that customers will renew their policies.

Example: sprout.ai is building a platform that helps insurers deliver fast and accurate claims decisions. With the platform, insurers can process claims in minutes at a 97 per cent accuracy level.

Enabling personalised pricing

Traditionally, insurance policies have been priced based on broad risk categories. However, AI can enable insurers to price policies more accurately based on an individual’s specific risk profile. This can make insurance more affordable for low-risk individuals and businesses while still ensuring that high-risk individuals and businesses are adequately covered.

Example: Igloo Insure’s dynamic pricing model and real-time risk engine help businesses ensure that their customers enjoy competitive rates based on their risk profiles.

Also Read: Levelling the playing field: How AI can transform SME hiring

Enhancing customer engagement

Finally, AI can help insurers improve customer engagement by offering personalised recommendations and advice based on an individual’s specific needs and preferences. This can help insurers build stronger relationships with their customers and increase customer loyalty over time.

Example: Assurance IQ (acquired by Prudential Financial) uses AI to sell personalised insurance products. The company uses AI and data collection to make personalised recommendations based on general questions about medical and lifestyle habits.

Of course, there are also potential risks and challenges associated with the use of AI in the insurance industry, including issues related to data privacy, security, and bias. However, these challenges can be addressed through careful planning and the development of appropriate regulatory frameworks.

Ultimately, the benefits of AI in the insurance industry are too great to ignore. By leveraging the power of this transformative technology, we can increase insurance penetration, making insurance more accessible and affordable for everyone. This, in turn, can help mitigate the financial risks associated with unexpected events, promote economic stability, and improve the overall quality of life.

Parting thoughts

At Cathay Innovation, we’ve invested in startups around the globe, developing innovative solutions for the insurance industry from Coherent, Igloo, Lifepal and Yuanbao Insurance in Asia, Descartes Underwriting, Qover and Coverfy in Europe and Sidecar Health in the US.

We’re also backed by some of the largest financial institutions and insurers, such as BNP Paribas Cardif, who are not only investors but strategic partners closely working with us and our portfolio companies to bring innovation to life in the real world. 

What’s become clear is that the potential of AI to increase insurance penetration is significant, and insurers that embrace this technology stand to gain a competitive advantage in the marketplace.

By improving risk assessment, enhancing underwriting efficiency, streamlining claims processing, enabling personalised pricing, and enhancing customer engagement, AI can help insurers create a more accessible, affordable, and personalised insurance experience for all.

Building in the space? Feel free to reach out.

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On Monday, the Association of Indonesian Venture Capital and Startups (AMVESINDO) released a report that revealed the performance of venture capital (VC) investments in the country in the first half of 2023. According to the report, the Indonesian VC industry saw consistent growth, with investments reaching IDR27.35 trillion (US$1.7 billion) in June 2023.

A combination of conventional and Sharia-based VC investments, the number was an increase from December 2022’s position of IDR25.94 trillion.

As seen in the following graphic (in IDR trillion), with the blue graphic representing conventional VC and the red graphic representing Sharia-based VC, the steady increase signifies investors’ trust in the potential of the Indonesian tech startup ecosystem, despite back-to-back global crises.

Also Read: Looking east: Why the future of VC investment is beyond the Silicon Valley

The number of VC firms operating and investing in Indonesia also remains consistent at 55 organisations.

According to AMVESINDO Chairman Eddi Danusaputro in a press statement, this signifies positive movements in the industry.

“However, there is still a need for a pentahelix collaboration between involved parties, including the government and VC firms, in order to achieve stronger and more exponential growth,” he said.

In order to achieve that, AMVESINDO proposed five recommendations to support the growth of the VC industry in Indonesia:

1. The association calls for separating the category of VC firms from financing firms. This separation is based on the consideration that the role of VC firms in Indonesia is still relatively small in the non-bank financial industry
2. The association also calls for a separation between VC firms that focus on financing and those that focus on equity participation, completed with different sets of regulations for both categories
3. The association highlights the need for incentives, stronger regulation and licensing, and education to promote VC investments to local investors
4. The association also aims to encourage regional VC firms to conduct more equity participation investments
5. The association supports collaboration to strengthen the VC investments industry through education and certification

e27 noted in a recent listicle about the Indonesian startup ecosystem that VC investments in H1 2023 were mostly dominated by early stage startups in various verticals. There are also a number of acquisition and international expansion moves made by Indonesian startups, which were previously known to put a stronger focus on the local market.

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Amidst the AI revolution, e27 presents a new series showcasing how organisations embrace AI in their operations.

As the Managing Director of Equinix South Asia, Yee May Leong oversees its business strategy in the region, including its sustainability initiatives. Her role involves advancing the digital transformation of businesses to align with Singapore’s ambition to become a leading digital hub in Asia.

Leong joined Equinix in 2019 and brings over 35 years of ICT experience working in companies such as IBM, Lotus, F5 Networks, and Orange Business Services. She earned a Bachelor’s Degree in mathematics, specialising in computer science, from the University of Waterloo in Canada and completed an advanced management program at Harvard Business School.

In this edition, Leong shares how Equinix has embraced Artificial Intelligence.

Edited excerpts:

How do you perceive the AI revolution and its potential impact on your industry and workforce?

There are many ways to look at Artificial Intelligence. From our business perspective alone, AI has a significant impact and is transforming how we conduct business. It has improved our efficiency by automating some of our internal processes, continually driving innovation from many of our teams and enhancing our customer experiences.

From the perspective of what we solve for our customers, AI requires another ecosystem to meet ESG and innovation needs. The current generation of generative AI requires a large amount of data or capacity — it needs quality datasets to contextualise and learn from.

At the same time, processing all that data requires significantly higher levels of parallel computing power than conventional workloads, which creates infrastructure management challenges. Platform Equinix is designed to help IT infrastructure teams tackle those challenges, freeing their organisational resources to realise the value of AI solutions quicker.

AI has the potential to spur innovation and unravel efficiencies in every corner of business or industry. Organisations must learn and adapt to AI or lose their competitive edge in the long run. Simply put, an organisation with a more efficient AI-enabled workforce will be an overwhelming force against competitors.

All this starts from understanding how AI can help their business to build the right digital infrastructure to support those data, AI applications and ESG needs. Identifying the right partners with green data centres and fast interconnects is just as important.

Can you share specific examples of how AI has been integrated into your workforce to streamline operations or drive innovation?

We use AI in multiple contexts in our operations. Even before the pandemic, Equinix had implemented an AI-powered chatbot to assist its employees in resolving IT issues.

By using the chatbot to analyse problems, from password issues, unlocking accounts, filling out forms, or finding conference rooms and more, employees can save time on these tasks and focus on more rewarding projects. If not resolved, the queries are rerouted to the right experts with a 96 per cent accuracy that it reaches the right group.

Artificial Intelligence is also tied to our business transformation, particularly in forecasting. For example, once a data centre is built, we use AI to predict its capacity, which then helps us optimise our workforce, inventory and, most importantly, energy resources needed for the infrastructure.

We also encourage customers’ adoption of AI, including automation processes and management of their IT equipment. For example, we offer automated notifications to remind customers to clean their data centre cages properly and comply with safety policies. This keeps customers informed about protecting their equipment and maximising energy efficiency.

Also Read: The value for biz lies in how humans, AI will enhance each other’s strengths: Mixpanel CEO

We also provide automated interconnection opportunity maps. These allow our customers to maximise the value proposition from Platform Equinix® and make the most of our robust, global network.

What challenges or concerns did you encounter when implementing AI technologies within your organisation, and how did you address them?

AI has become more prominent recently, thanks to the ChatGPT boom last year. But Equinix has long realised the importance and power of AI as it has become one of our foremost business imperatives for a while now.

One of our challenges was around talent. Finding and grooming the right talents took us some time, and we are not alone. According to ManpowerGroup, a staggering 77 per cent of employers are experiencing difficulties filling job vacancies, marking the highest talent shortage in 17 years.

In Singapore, according to a recently released report on job vacancies in 2022 by the Ministry of Manpower (MOM), software and applications managers ranked sixth, whilst systems analysts ranked eighth in terms of vacancies.

We have always believed that investing in tech talents will pay off. Therefore, we have implemented several programs dedicated to employing and upskilling our existing talent pool on AI technology so that they could creatively develop, troubleshoot and ensure the process falls within regulatory guidelines and practices.

How do you ensure transparency and uphold ethical considerations in using AI technologies within your organisation to mitigate privacy concerns?

Equinix believes that the responsible approach to AI is rooted in integrity. Firstly, data security and privacy are key so that the AI data inputs are clean and not corrupted. Meanwhile, good data compliance and governance are necessary layers of soundboard and transparency to ensure good-quality datasets. This is because the data, computation, and quality of context in the data affect the outcome of the result.

We lay the foundation with our team to uphold this practice because we are dedicated to using AI models to maximise business value for our customers.

How do you envision the future collaboration between humans and AI? What role do you see AI playing in augmenting human capabilities?

At Equinix, people and AI are complementary to each other. The creativity and innovation behind the technology or solutions come from humans, while AI amplifies those solutions to scale and at speed. Similarly, we will need more talent in the workforce to better understand AI. Our vision is for an efficient AI-enabled workforce rather than a workforce filled with AI applications.

Also Read: AI has its advantages but it can never fully replace humans: Asnawi Jufrie of SleekFlow

As more of the world looks to bridge the gap between human capabilities with the advancement of AI, we believe companies will look to Everything as a Service (XaaS) to support their digital AI transformations. XaaS platforms provide seamless access to AI as a service hosted on cloud infrastructure and a growing suite of software tools and digital solutions that can be utilised on demand.

Our Platform Equinix runs on high-performing distributed AI infrastructure to enable IT teams to overcome AI complexity and manage massive data volumes, freeing up business units to focus on critical work.

We believe a world where humans can leverage AI to achieve objectives in a much shorter phase is already possible. With further innovations and developments, we look forward to how human ingenuity can enable more industry-changing solutions when augmented by AI.

What advice would you give to other company founders looking to leverage Artificial Intelligence in their workforce?

AI can improve many internal processes in the back office, enabling employees to focus on higher-value needs. Similarly, AI enables organisations to find fit for roles without bias, meaning businesses can find the best talent for the job.

Ultimately, it is a journey. This journey is limited only by our own imaginations. Like any past technological advancement, Artificial Intelligence is only a tool to help us achieve our goals.

In summary:

• Understand and appreciate how AI can help you achieve those goals
• Plan and develop the right infrastructure and talent within your organisation
• Look for the right partners to help you reach goals at scale and speed

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