growth solutions platform tailored for new-economy businesses such as e-commerce and fintech, announced today its strategic partnership with BuzzAR, the leading generative AI travel tech company headquartered in Singapore, which has expanded to Saudi Arabia. This collaboration aims to support BuzzAR’s expansion plan in Saudi Arabia and caters to the needs of a targeted 100 million inbound travellers by providing localised ChatGPT services in Arabic and other languages. As part of the agreement, Choco Up will provide funding of up to US$5 million over the next 24 months, enabling BuzzAR to solidify its position as the go-to AI solution for the tourism industry.

The decision to invest in BuzzAR comes at a crucial juncture after successfully expanding its operations to Saudi Arabia since its arrival in December 2022. With its innovative generative AI technology, BuzzAR has emerged as the frontrunner in the travel tech sector, collaborating closely with tourism government bodies. The company has rolled out its ChatGPT on Whatsapp since January 2023, and the funds are used to serve three projects worth over US$10 million, promising to revolutionise the tourism experience in the region in the next 24 months.

Also read: Leave a Nest: Bridging gaps in science and technology for global impact

Choco Up’s funding will bolster BuzzAR’s mission to provide enhanced experiences for travellers and promote seamless communication through a localised Arabic-friendly ChatGPT solution, together with 8 other commonly used languages. By leveraging Choco Up’s growth analytics and financing solutions, BuzzAR aims to scale its operations and refine its AI technology further, specifically tailored for the Saudi Arabian market.

“We are thrilled to partner with BuzzAR and support their expansion plan in Saudi Arabia,” said Percy Hung, Co-Founder & CEO of Choco Up. “BuzzAR’s innovative approach to generative AI and their collaboration with tourism government bodies, tech giants, and their strong track record in gaming and transformative technologies make them an ideal partner for Choco Up as we explore to expand into the MENA market. With our funding, we aim to accelerate BuzzAR’s growth trajectory, enabling them to serve a massive audience of visitors travelling into Saudi Arabia,” Hung added.

Bridging language and cultural gaps through BuzzAR and Choco Up

BuzzAR’s localised ChatGPT in Arabic and 8 other languages are poised to revolutionise the way tourists engage with technology during their travels. The advanced AI technology not only provides seamless language translation but also offers personalised recommendations via its Buzz Insights Engine, real-time assistance, and immersive virtual experiences. By tailoring the ChatGPT solution specifically for the Saudi Arabian market, BuzzAR aims to bridge the language and cultural gaps in the region, ensuring a delightful and customised experience for visitors.

Also read: Experts from Indonesia’s business landscape share Marketing best practices

“We are honoured to have Choco Up as our strategic growth partner in this crucial phase of our expansion,” said Bell Beh, Co-Founder & CEO of BuzzAR. “The funds and network effect will enable us to accelerate our growth plans and realise our vision of transforming the tourism industry in support of Saudi Arabia’s Vision 2030. With Choco Up’s support, we will be able to serve 100 million visitors, offering them localised ChatGPT in 9 languages including Arabic by the end of this year, and revolutionising the way they interact with technology during their travels.”

Choco Up and BuzzAR’s partnership signifies a significant milestone in the travel tech industry, emphasising the importance of generative AI and localisation for enhancing the visitor experience. By combining Choco Up’s financial backing and industry insights with BuzzAR’s innovative AI technology, the companies are well-positioned to reshape the tourism landscape in Saudi Arabia.

About Choco Up

Choco Up is a global technology and financial services platform that offers revenue-based financing and growth solutions for e-commerce brands. With data analytics and machine learning at its core, Choco Up employs vast integrations to automate fund deployment, providing fast-growing companies with zero-equity funding in a quick and seamless manner. Choco Up has offices in Singapore and Hong Kong and serves e-commerce businesses worldwide, providing smart-growth analytics and global payment solutions to fuel their growth. Learn more at choco-up.com.

Also read: How WAOHire is bridging businesses with today’s most talented developers

About BuzzAR

BuzzAR is the leading generative AI travel tech company specialising in enhancing the visitor experience through personalised recommendations, real-time assistance, and immersive virtual experiences. With a strong focus on localisation and collaboration with tourism government bodies, BuzzAR aims to revolutionise the way travellers engage with technology, ensuring a seamless and tailored experience. Learn more at https://buzzar.app/chatBae.html

For media inquiries, please contact media@buzzar.app

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Photos by Choco Up

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This article is produced by the e27 team, sponsored by BuzzAR

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In the fast-paced world of business, customer loyalty has become a vital cornerstone for success, and the Asia-Pacific (APAC) region is no exception. As companies vie for a competitive edge, loyalty programs have emerged as a powerful tool to engage customers, drive repeat business, and foster lasting relationships.

The APAC loyalty market, already valued at US$2.69 billion in the present year, is poised for remarkable growth, projected to reach a staggering US$6.99 billion by 2028, at an impressive CAGR of 21.06 per cent. In this ever-evolving landscape, businesses are increasingly turning to innovative solutions to capture a slice of this exponential growth.

With such promising growth prospects, businesses are keenly aware of the need to stay ahead in the loyalty game. Society Pass, a brainchild of Dennis Nguyen, recognises the untapped potential and steps in to address a significant gap in the market.

Bringing together consumers and merchants across Southeast Asia on a single, universal loyalty platform – this is the vision that sparked the creation of Society Pass. Founded by Dennis Nguyen in 2018, the platform has quickly risen to become a major player in the region’s tech landscape.

A unique problem, a pioneering solution

Inspiration for Society Pass came from recognising a significant gap in the market – the absence of a universally accepted, open-loop loyalty platform serving consumers and merchants throughout Southeast Asia. Nguyen saw an opportunity to create a seamless rewards experience that transcends geographical limitations, providing a unified platform for users across the region.

Also Read: Society Pass unit NusaTrip acquires Vietnamese travel marketplace VLeisure

To achieve its vision, Society Pass set out to integrate numerous global partners, offering users an expansive rewards network. To manage the complexities of such a vast network and ensure consistency, the platform initially rolled out its services to companies within its ecosystem.

By limiting the platform to Society Pass members initially, the team could control the quality of the user experience. As the platform matures and operational hurdles are resolved, it plans to expand its offerings to merchants outside the ecosystem.

Nguyen’s extensive experience in consulting, investment banking, and venture capital in Southeast Asia played a pivotal role in building and scaling Society Pass in the region. His expertise in identifying market trends, raising capital, hiring talented executives, and navigating regulatory frameworks allowed the platform to scale rapidly.

Benefits for consumers and merchants

Society Pass takes pride in cutting across various consumer verticals, offering a seamless user experience for both consumers and merchants. Users can earn and redeem rewards across multiple partner brands within the ecosystem, creating a compelling loyalty program that drives customer retention and engagement. For merchants, Society Pass offers a permanent customer loyalty solution, significantly reducing the cost of customer acquisition and increasing revenues.

In a world dominated by social media and digital channels, Society Pass has taken an active approach to branding and marketing. Leveraging platforms like Facebook, Linkedin, Instagram, and Twitter, the company stays connected with its audience, shareholders, and the media. Regular press releases and financial updates keep investors informed about the company’s progress.

As the Founder, Nguyen oversees multiple aspects of the company, including management, acquisitions, HR, and investor relations. However, he attributes the company’s success to an exceptional executive team comprised of seasoned professionals with extensive experience in Southeast Asia’s retail, technology, and finance sectors.

Going public and looking at the future

Becoming a publicly-listed company on Nasdaq was a major milestone for Society Pass. It provided liquidity for investors, access to public markets for expansion funding, and the distinction of being the first Vietnam-based company to complete a traditional IPO on the US stock market.

Also Read: Rapid execution is paramount for our success: Angeline Seah of Virtualtech Frontier

Looking ahead, Society Pass envisions becoming the go-to payments platform in Southeast Asia, serving millions of consumers and merchants. Continual upgrades to the technology offerings aim to deliver a seamless user experience, solidifying Society Pass’s position as a market leader.

Society Pass, with its innovative approach to loyalty and rewards, is undoubtedly redefining customer engagement in Southeast Asia. With Dennis at the helm, the platform is poised for further growth and success, unlocking the true potential of permanent customer loyalty and cash discount replacement.

By the end of Q4 2023, Society Pass has set its sights on seamlessly connecting all ventures within the ecosystem to the Loyalty App, ensuring a smooth shopping experience across its extensive network of over 650k merchants.

As the world embraces fintech innovations, these pioneering companies embody the spirit of transformation, reshaping the loyalty landscape and revolutionizing customer-business relationships for years to come. With visionary leaders at the helm, these solutions hold the key to unlocking the true potential of permanent customer loyalty and driving business growth in the dynamic APAC region and beyond.

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In the world of business, marketing is king, and the iconic doll brand Barbie’s recent success showcases this perfectly. Leveraging its iconic brand image, extensive product line, and carefully planned “pink publicity” campaigns to attract its diverse target audience, Barbie embodied the power of strategic marketing with its US$90 million movie revenue during its opening weekend. 

For startups or emerging brands, marketing matters more than ever to ensure that they stand out and succeed in their respective markets. But with their limited resources and different sets of priorities, emerging brands tend to need a different starting point in their marketing efforts compared to their more established peers. 

Thus, here are some lessons I’ve learned from my time driving marketing strategies in different stages of startups, from those still in their infancy to those that have matured over the years. 

Early stage: growing your brand name by tapping into brand partnerships

New brands typically focus on raising brand awareness as their starting point to generate leads. However, a lack of proper planning can lead to expensive and ineffective marketing efforts that waste an already limited budget. 

Also Read: Experts from Indonesia’s business landscape share Marketing best practices

This is where partnerships can come in. In 2020, 55 per cent of brands enjoyed increased revenue from partnerships, with 29 per cent of D2C decision-makers projecting at least a 20 per cent growth in their revenue for the previous year. Partnerships can be a cost-effective way to grow your brand as you can tap into each other’s resources for your cross-promotional needs.

However, many businesses fail at their collaborations for various reasons, such as failing to communicate or maintain the alignment of goals. Therefore, it is crucial for startups to find brands that share their goals and target demographic before designing a marketing plan addressing these factors. 

When I led foodpanda’s marketing in its early stage, I was tasked with increasing the brand’s sales with a limited budget. Taking inspiration from Tripadvisor’s and MICHELIN’s eye-catching window stickers, my team and I planned and executed a branding campaign where we increased the visibility of the foodpanda brand logo through other businesses’ storefronts, riders’ jackets and bags, and DBS Bank-owned ATMs in Singapore.

This strategy was a great example of free advertising at a low cost. That, coupled with other digital marketing strategies we were running at that point in time, resulted in an average of 15 per cent to 25 per cent increase in order count every month.

Other examples of co-branding partnerships you can tap into include affiliation programs and content partnerships. Brands can also run joint product marketing campaigns where they collaborate to develop a product that showcases the uniqueness of each brand. Some popular joint product marketing campaigns include the collaboration between Apple and Nike (Apple Watch Nike) and McDonald’s, and Hello Kitty. 

Growth stage: Increasing your customer base through marketing analytics

When new brands have now gained enough traction, the marketing strategy should shift from brand awareness to customer acquisition. To increase your customer base, businesses should first thoroughly understand their audience and strategise accordingly. 

Also Read: Influencer marketing strategies: Driving engagement and reach in Indonesia

However, to improve the effectiveness of your marketing strategy and the allocation of your businesses’ resources, marketers should prioritise analysing data obtained from the results of previous campaigns. From there, you can see what has worked in the past and experiment with what may work in the future, taking the opportunity to improve your future campaigns. Analytics also help further personalise your marketing efforts, which 97 per cent of marketers said results in increased business outcomes. 

My Chope team and I successfully turned a Korean-drama-inspired brand video viral with more than 1.2 million views in two months. The app also saw an increase in downloads by more than 25 per cent MoM, four times the average, truly showcasing the effectiveness of viral marketing. 

Viral marketing isn’t a shortcut to instant results, of course, and it wasn’t by chance that we managed to achieve these wins. Behind many viral videos are countless tedious hours spent researching available data and channelling these data-driven insights into various experiments and failures.

After all, behind many successful high-quality campaigns lie an equally high quantity of operations to learn from; for quality cannot be drawn from inspiration alone. Thanks to the insight we have gained from data analytics, my team and I more than doubled the projected growth in reservations in 2016 and doubled it again in 2017 compared to the prior year.

Mature stage: staying in the competition with User Generated Content (UGC)

At this point of growth, brands should focus on trying to remain competitive in the market while making full use of the available resources. User Generated Content (UGC) is an excellent asset that brands can and should leverage and utilise effectively.

98 per cent of users read online reviews for businesses, showing their increasing reliance on the internet and/or social media platforms as their source of trusted information. Due to this, UGC are valued for their authenticity as they originate from customers instead of the brand.

During my time at Tripadvisor, traveller pictures and reviews were my team’s and my main source of assets for campaigns. The platform allows visitors to discover places when they travel and encourages them to leave reviews at any point of their trip.

The reviews that we collected were used to drive industry-leading campaigns like Travelers’ Choice Awards and Year in Travel 2021 that market to audiences across the whole travel ecosystem. By launching campaigns like this, we are able to remain top of mind and maintain market dominance while reaching new potential customers. 

Finding the strategy that works for you

As a marketing enthusiast, I’ve had an exciting journey learning from industry giants such as foodpanda, Chope, and Tripadvisor, and I hope the lessons I’ve learned will be valuable for businesses out there hoping to boost their marketing efforts, no matter which stage they are at right now. 

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Prepare to be surprised since this mind-blowing article about ChatGPT was not written using ChatGPT! This is the product of a true, knowledgeable human mind!

Since ChatGPT has replaced Blockchain and Web3 as the most talked-about topics, suddenly, the internet is full of AI experts. However, AI is a complex matter and a tool that needs to be used in the correct way. Also, AI is not new, but the rise of computing power has made AI much more broadly available, usable, and powerful.

I am a big believer in AI complementing the work of humans, allowing for greater productivity and speed of execution. I don’t see mass unemployment or poverty, I see opportunities ahead.

My experience with early chatbots

I first dealt with chatbots (kind of early forms of ChatGPT) as CEO/MD of iProperty Group, where we implemented the first chatbot in ASEAN to replace website-based search in 2016 with free text search and the ability to ask follow-up questions.

The result was mixed; while the search was more comfortable and powerful, the chatbot at times showed irrational, emotional behaviour and was not useful enough to be maintained. After the chatbot started to insult journalists during the launch, despite being well-trained, we realised more work had to be done.

Also Read: How ChatGPT and automation are revolutionising so-called ‘traditional’ industries

Later, as Executive Chair of iCarAsia, I tried again to introduce a chatbot in 2018, specifically trained on all new car models and knowledge about cars. It worked much better as the focus was narrower than last time. The only new side effect was that chatbot lacked the ability to verify information on the web. This resulted in the bot fabricating information, a trait which is still around with the latest ChatGPT version.

So we funnelled the usage even further and ended up using the chatbot for providing car dealers with a channel to receive incoming requests after office hours and for the bot to pass on these leads to the human, like an outside office hours receptionist.

Current use cases of chatbots

A few years later, with bots having become smarter, now at Juwai IQI, where I am Co-Founder and Chair, we use chatbots as assistants for our warriors (agents) to do simple analysis (sales information), reminders of birthdays of clients, and other administrative tasks, thereby increasing the productivity of the warriors by allowing them to focus on more value-adding tasks. We also use ChatGPT for the drafting of marketing material; however, anything created is reviewed by a human afterwards. To me, this is a perfect example of how bots are usable at this stage.

I see a great opportunity for chatbots to become more prominent in consumer service as first-level support to help sales and support staff be more productive. However, a few things need to be resolved first.

Challenges and misconceptions

The big advantage of ChatGPT is that it is always available and very fast, but the inherent risks and specific characteristics of a chatbot need to be monitored and factored in. I want to list a few of those here and also end misconceptions.

And most recently, the interface to interact with ChatGPT and GenerativeAI has become much, much easier.

Many people say ChatGPT’s biggest weakness is its lack of empathy. I don’t think that’s correct; this depends on the way it is set up. The latest research, as referenced in Frontiers in Psychology (May 2023), shows that ChatGPT actually outperforms humans in empathy.

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

Empathy can turn into negative emotions. There is still a risk of ChatGPT becoming emotional and, at times, aggressive if left unattended or unsupervised.

The other misconception is that humans are more creative than ChatGPT. Again, this is not scientifically validated. However, where humans outperform ChatGPT is “giving context” and not taking statements “at face value”. It will take many years of learning and future variations of ChatGPT or other chatbot languages to handle this; related to the lack of context is the inherent biases that ChatGPT and similar programmes have. Like humans, ChatGPT’s frame of reference is based on what they learn.

Learning is happening via technology, so the risk is that whoever controls the technology controls the bias. In consumer service, bias is very risky as wrong advice can be given, which leads to significant liability (and probably no insurance cover) — think robo-advice. Bias and inconsistency in responses are two significant shortcomings of ChatGPT at the moment.

Also, security concerns (refer to the Samsung data breach) need to be factored in. Nothing that gets discussed in ChatGPT is private.

Conclusion and future outlook

In summary, there are still a few areas to resolve, but we have made significant progress over the last decade in the use of chatbots.

As long as we control the process, we are heading for a bright future, control and regulation are essential. Unsupervised, however, there is a risk that AI becomes a large threat to future generations.

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Sports is hands down one of the best stress-busters after a long, hard day of hustling at work. This is a sentiment often brought up during my conversations with friends both within and outside of the industry, and — according to a sports culture index study — one echoed by more than two-thirds of the Malaysian population.

The challenges and joys of organising sports activities

Understandably so, considering sports offer far more than just the physical benefits of better bodily health; it also has a proven correlation with stress relief and improved psychological well-being. This is especially important for younger Malaysians like university students or working adults, many of whom do try to squeeze in time for a sports session with friends to unwind amidst a busy schedule.

Therein lies the problem: while group sports sessions are always fun, coordinating them usually isn’t.

Finding a date and time that works for everyone can already be a hurdle, but the real problem sometimes begins after. Slots in sporting facilities can fill up quickly, particularly in popular neighbourhoods and student hotspots, which can leave many groups scrambling to find a suitable alternative that is equally accessible and can accommodate the group’s needs. This in itself is a very time-consuming process, looking up courts’ availability on social media or even calling them directly. And this doesn’t even factor in last-minute cancellations!

I have personally encountered each layer of this problem — but let’s face it, who in the sporting community hasn’t at some point?

Also Read: How e-sports is evolving with blockchain gaming

This was a topic of heated discussion over a round of mamak with friends, which, as it turns out, ultimately led to us developing AFA Sports. AFA became a mobile app that specifically collates sporting facility information (such as opening hours, availability, and court options) from multiple sites, which will help fellow Malaysians easily find and book courts from just one platform.

But more than just being the brainchild of a few sporting aficionados, the AFA app was a real awakening for all of us who share backgrounds in data processing and information technology (IT). Sport is never solely about the on-court, in-game experience. It is also about how that experience can be altered and amplified within a community of like-minded sports enthusiasts.

In this sense, digitisation can be a game-changer — literally.

Digitisation: Transforming the sports landscape

Digitising and automating processes the way the AFA app does is only the tip of the iceberg. In fact, digital tools have the potential to completely transform the way Malaysians approach, enjoy, and engage with the sports they love.

There are already app features and platforms that bring sporting fans together for a friendly game or a community event. But more than helping consumers find each other, digital tools can also help connect the wider Malaysian sporting community to businesses that matter — sports facilities, equipment makers, even trainers and part-time coaches.

I am happy to share that AFA has recently introduced the highly anticipated “Activities” feature, which empowers hosts to organise both public and private events, providing users with exciting opportunities to participate in a variety of sports activities. With a seamless payment tracking system and user-friendly interface, AFA ensures a smooth and convenient experience for all.

Also Read: The changing face of gamers and what it means for e-sports startups in SEA

But that’s not all — AFA has even more in store! In the coming month, we are thrilled to unveil our upcoming Academies and Tournament features, further expanding our platform’s capabilities and offering users an even more comprehensive sports experience.

With a wider network at their fingertips, businesses can also look to expand their presence and infrastructure to keep pace. For instance, project management systems will ensure even large volumes of appointments (or any related data) can be made and tracked more seamlessly with minimal manual upkeep. Cloud-based booking infrastructure can also help sync data across multiple platforms or servers in live time, which is essential for time-sensitive or constantly shifting items like bookings.

In the larger picture, stronger integration of digital tools in the sporting industry will put it in a prime position to benefit from Malaysia’s rapidly expanding digital economy — which is projected to contribute a whopping 25 per cent of the nation’s overall economic growth.

The power of community

As with many other industries, digitising the multiple touchpoints in sports will open up a myriad of opportunities, starting with a more connected sports ecosystem that brings all the different stakeholders together, from casual sporting fans and small establishments to professional athletes and larger sporting organisations. The landscape will also be ripe for new markets and businesses to flourish, which can, in turn, attract more investors to grow sports locally.

The ‘big picture’ benefits may sound like very top-level business jargon, but ultimately the growth of the industry as a whole will trickle down to us: the everyday Malaysians who love sports and who love playing sports with the people we love (or people we will come to love)!

Nothing unites us quite like a Harimau Malaya or badminton match, a testament to how vibrant and dynamic the sports community already is in Malaysia. So just imagine how much more we can do when they’re supercharged with digital tools — and highly connected opportunities to do more together!

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Image credit: AFA

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Many eco-activists and environmental institutions are sounding the alarm over Indonesia’s critical environmental situation. In 2018, the capital Jakarta was ranked as one of the world’s most polluted cities, and the situation has only gotten worse since then. The air is polluted primarily by fuel transport, industries and deforestation. 

The scale of the Indonesian ecological disaster is as horrifying as even during the COVID-19 pandemic when most cities faced significant enhancement of air quality, Jakarta still didn’t get a chance to take a deep breath of fresh air. 

Eco-activists rightly call on businesses to join the fight against environmental degradation and help government agencies to achieve their goals.

But what contribution can startups make?

It is not only big business that is able to influence global world processes. Young and emerging technology companies also have the resources and potential to make the world a better place. 

For example, Algenesis uses its patented technology to produce eco-friendly plastic made from algae, thereby solving the problem of soil and ocean pollution from non-degradable materials. The same issue drives Paboco, which produces 100 per cent recyclable paper bottles. 

Speaking of Indonesia, you can see many entrepreneurs that are not afraid to join the fight for a brighter future there too. CarbonEthics, a cleantech startup, is accelerating the supply of high-quality carbon credits. Their innovations help corporations, SMEs and individuals to reduce their carbon footprint.

As a mobility fintech startup, IVITECH is dedicated to empowering mobility entrepreneurs across Asia and especially Indonesia by providing them with access to vehicles and innovative solutions. 

Also Read: There is talent shortage in the e-motorcycle space in SEA: ION Mobility CEO

The introduction of electric bikes in Indonesia addresses two significant issues: the prevalence of outdated and unsafe bikes and the problem of air pollution. Currently, many Indonesian drivers rely on outdated and unsafe bikes, which not only impacts their income but also poses risks to their safety and the safety of their passengers. Safe and reliable electric bikes can decrease the harm made by fuel transport and enhance the livelihoods of drivers while ensuring the well-being of their passengers.

Moreover, the introduction of electric bikes contributes to the mitigation of air pollution and the improvement of air quality, particularly in Jakarta, where pollution is a growing concern. Increasing the adoption of electric bikes aligns with the Indonesian government’s goal of having 2.5 million electric vehicle users in the country by 2025, promoting a cleaner and healthier environment.

Are there any difficulties with helping the environment as a startup? 

The first obstacle that we had to face was the need to educate society as well as the key market players and raise awareness about the advantages of electric bikes and their impact on the environment. Convincing people to abandon fuel-powered transportation in favour of ecological one may be difficult due to a lack of resources. 

The second challenge happens to be the infrastructure, which is unfortunately not yet ready to obtain your technologies. For example, as of now, there are not enough charging and swap stations for electric bikes in Jakarta to ensure drivers that they would be able to charge their bikes quickly and easily. 

These challenges require collaboration between the private and public sectors to overcome, and we are actively working with both to find solutions.

Also Read: Transitioning to new energy? Here’re 5 prominent solutions for your business

Is it possible to measure startups’ impact on ecology? 

There are many ways to rate a company’s contribution. The first is simply by tracking the scope of services provided. IVITECH is monitoring the number of bikes given and the number of drivers who abandoned fuel-powered transport. 

The second way is to track the level of public awareness on topics such as the overall environmental situation and your business in particular. It is possible with surveys and media coverage monitoring. 

Is it worth it? 

It is important to note that, in fact, a startup’s cooperation dedicated to state goals can help a startup grow. Support for government initiatives can cause a mirror effect and bring investments aimed at further cooperation. 

Also, supporting the environmental goals strengthens the public-private partnerships, utilising the combined expertise and networks of both sectors to create more comprehensive and effective ecological initiatives and fields of growth.

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Picture this: A classroom where Artificial Intelligence is a welcomed partner rather than shunned. Sounds futuristic? It’s not. It’s the new world of education, and it’s knocking on our doors. But not everyone’s ready to answer.

There’s a growing tug-of-war between progress and tradition in the education sector. On one side, we have proponents of AI, particularly generative AI, including both large language models like OpenAI’s generative AI as well as image generators like MidJourney. On the other side, we have academia, which is rallying against generative AI for fear that it will undermine the integrity of education. 

Ironically, academics are committing a significant logical fallacy here, creating what is effectively a straw man argument. They tend to focus on the fact that students can use generative AI for outright plagiarism (i.e. copying-and-pasting answers from ChatGPT, sometimes even with the “As a language model…” disclaimer laughably still included for assignments).

Everyone would agree that this use case is wrong. Unfortunately, because of this focus, educators are deploying AI detectors in an attempt to sniff out this content and call it a day on all AI in education, which is simply short-sighted. 

In actuality, there are an infinite number of use cases for generative AI in education beyond this regrettable one that the headlines are neglecting. This is where organisations in the startup ecosystem can step in. As tech companies, we can nudge educators to think outside the box by embracing AI.

Also Read: In the age of AI, which human skills increasingly stand out?

I refer to tech companies broadly here: This can be companies in edutech, companies that may have ed-tech use cases, and even the generative AI companies themselves, who have native applications for learning in their out-of-the-box product.

It’s important to celebrate how these companies are deploying AI for education to widen the discourse on how generative AI can help students learn. Broadening the discussion will help accelerate the adoption of AI in the classroom. 

Highlighting use cases to socialise AI in the classroom 

Let’s take a look at some of these novel applications. 

While Canva is, of course, not an edutech, students can use its design platform for a variety of purposes, such as crafting interactive presentations, customising images for their assignments, or initiating drafts for their blogs. What makes Canva unique is the way it employs AI technology to generate tailored designs based on a short description or a reference picture.

The platform’s Magic Write function broadens its offerings beyond graphics. It’s capable of producing both concise and detailed texts, making it a versatile tool for presentations, website content, or social media posts. Moreover, the Magic Replace feature comes in handy for student organisations aiming to maintain consistency in their brand assets across all designs.

In the more strictly edutech space, there is Anthology. Anthology’s Intelligent Experiences (iX) uses generative AI to integrate data from various educational platforms, delivering personalised, intelligent insights for students and educators.

Their AI-supported course-building tools can suggest course outlines, formulate test questions, and even design grading rubrics. The objective isn’t to replace teachers with AI but to assist educators in shifting from repetitive tasks to more impactful student engagement.

Anthology’s partnership with Microsoft highlights its commitment to integrating generative AI into its edutech offerings. However, what truly distinguishes Anthology is its Trustworthy AI Framework. This framework aims to guide the use of AI responsibly, harmonising its groundbreaking potential with essential ethical safeguards.

And, of course, there are generative AI tools themselves. For example, ChatGPT can aid in initial research, offering insights on various topics to kick-start learning. It assists in brainstorming by generating diverse ideas, and it’s useful for test prep, explaining complex concepts, and simulating potential exam questions. 

Also Read: Adobe Firefly aims to unlock AI’s potential for effortless design

Despite concerns, it’s crucial to recognise the potential of Artificial Intelligence in education by discussing these diverse applications, however early in their life cycle, rather than just focusing on edge cases. 

AI is not a threat but an aid to educators, capable of improving personalisation, comprehension, and efficiency for all students. 

Resistance might be a natural response, but progress is inevitable. Organisations must champion how AI can help students so that schools and universities can embrace this technology with a more progressive attitude. This task may be slightly afield of their core product marketing, but it’s one that must be done.

After all, AI for education is not about offloading our thinking to robots. It’s about building a base of more educated citizens, which will only help companies at the forefront of technology.

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

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Image credit: Abobe Firefly

The post Embracing AI in education: Expanding horizons for students appeared first on e27.

Dear Pro member,

Amid the challenging economic conditions in Indonesia, two prominent startups, insurtech firm Qoala and fintech company Ayonnect, have announced employee layoffs as part of their restructuring efforts.

However, concerns have been raised that the current global economic climate might be the true underlying reason for these workforce reductions. The situation has raised alarms, suggesting that other companies in the region could follow suit and implement layoffs in the upcoming months.

Indonesia has been severely impacted by the global economic slowdown, emerging as one of the worst-hit countries in Southeast Asia. The economic downturn has put immense pressure on businesses across various sectors, leading to financial difficulties for startups like Qoala and Ayonnect.

The uncertainty surrounding the situation has cast a shadow over the stability of other startups and companies in Indonesia, with fears that more layoffs could be on the horizon.

As the economic challenges persist, the Indonesian startup ecosystem remains under scrutiny, and stakeholders are closely monitoring the developments, hoping for a recovery and revival of the thriving tech industry in the region.

Scroll down for all the major recent developments in the region’s startup ecosystem

Happy weekend.

Sainul,
Editor.

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Insurtech firm Qoala lays off 80 employees in Indonesia, Malaysia
This news comes about four months after the company announced its US$7.5 million series B extension round; The company said that the decision was motivated by a two-year review of its organisational structure.

Ex-Lazada director’s fintech Ayoconnect cuts 10% of workforce
According to its site, Ayoconnect has about 200 employees; The startup has raised a total of US$43M in funding; Its latest round was the US$13M Series B+ in October 2022.

Airalo secures US$60M in Series B funding
The backers include Etisalat’s e& capital, Liberty Global, Singtel Innov8, Antler, and Rakuten; Airalo aims to bring instant connectivity worldwide by allowing travellers to purchase virtual eSIM packages.

GrabRentals drives home US$90M in revenue as earnings grow 73% in FYE 2022
At the same time, the company registered US$15M in earnings before interest and taxes; This comes as the company slashed its finance costs by almost half to about US$2.5M.

Endowus grows revenue 2.5x in 2022, but losses rise to US$20M
However, the company’s expenses also increased, leading wealthtech company’s losses to balloon from US$13M in 2021 to US$20M in 2022.

Antler expands to MENAP with launch of US$60M fund
It plans to hit first close in September this year; The Singapore-based early-stage investor will also launch its first cohort in Riyadh that month, where around 60 founders will be shortlisted for its three-month founder programme.

SG digibanks spend big for 2022 launch, filings show
Trust Bank, GXS Bank, and MariBank have spent big in their first few months of operations; GXS Bank, a joint offering from Grab and Singtel, set aside US$101.4M in operating expenses last year.

Chinese users log US$90B in transactions on Binance under domestic ban
After China declared all crypto-related transactions illegal in 2021, Binance said it would stop trading for China-based customers; However, Binance used different websites and domain names to redirect China-based users to its global exchange.

‘Airbnb for surgeries’ HDmall gets FEBE Ventures backing
HDmall, which works with 1,500 healthcare providers in Thailand and Indonesia, aims to achieve profitability by the end of this year.

Singapore sports app Rovo to shut down operations
The app helps users create workout routines, as well as find partners for sports such as tennis, basketball, and football; Rovo last raised US$473K led by East Ventures in 2018.

Beleaf raises US$6.9M to expand farming-as-a-service model
The investors are Alpha JWC Ventures and Openspace Ventures; Beleaf is building an integrated platform to give farmers access to input and technology as well as to help connect farms with agronomists and retailers.

Former SCMP CEO’s Web3 startup Terminal 3 raises pre-seed funding
The investors include 500 Global, CMCC Global, Consensys Mesh, and Bixin Ventures; Terminal 3 leverages decentralised storage and zero-knowledge proofs to empower an equitable Web3, where user data is freely composable while remaining fully private and secure.

Superbank, Amartha team up for women-focused working capital loans
With this partnership, Superbank aims to provide working capital loans to 1M+ women microentrepreneurs served by Amartha; To date, Amartha has disbursed over US$800M in working capital loans to 1.6M SMEs in Indonesia.

Indonesia’s Bank Raya posts US$8.3M in pre-tax profits for H1 2023
The development comes despite a 34.5% dip in the digibank’s net interest income, which stood at US$15.4M for H1 2023; Bank Raya’s digital lending disbursements grew 23.7% y-o-y to US$53.2M.

 

eFishery will look to expand across Asia, Middle East: CEO Gibran Huzaifah
eFishery achieved positive EBITDA for two consecutive years; its domestic transactions reached US$27.6M in 2021.

Vietnam offers a blue ocean opportunity for our healthtech biz: HD Co-Founder Sheji Ho
HD, which operates a healthcare and surgery marketplace in Thailand and Indonesia, plans to enter Vietnam next year.

Startups don’t need PR agencies, sirius-ly?
Hiring a PR agency to take care of the image aspect of your business is especially crucial for startup companies.

Striking the right balance: Financial health, talent retention, and business growth
Businesses and organisations now find themselves in uncharted waters where the future remains indefinitely uncertain.

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(The image used in this article is AI-generated)

The post Ecosystem Roundup: Layoffs at Qoala, Ayoconnect; Airalo secures US$60M; Antler expands to MENAP appeared first on e27.

In July, the Philippine-based career platform Bossjob announced its plan to enter the Japanese market. The plan will include the provision of a limited-time free policy to assist Japanese companies in recruiting talents from different countries through an enhanced user experience with its AI + direct chat model.

“Japanese companies exhibit a high demand for talent. We aim to meet this need by providing efficient talent services that prioritise superior user experience,” says Bossjob co-founder and Chief Executive Officer Anthony Garcia in a press statement.

Prior to its expansion to Japan, Bossjob entered Singapore and Indonesia and is preparing to enter Hong Kong in Q3 2023.

Founded in 2018, Bossjob offers an MDD model of “mobile + direct chat + AI-matching,” introducing direct chat into the recruitment scene. With the help of AI technologies and big data, the platform recommends highly suitable and active candidates to employers and relevant job opportunities to job seekers.

In this email interview with e27, Garcia explains in detail about the company’s expansion plan and the role it plays in its growth. The following is an edited excerpt of the interview.

Also Read: Driving financial inclusion in the Philippines: Why last-mile communities are key to winning the battle

Can you tell us about the process of how Bossjob decided that Japan is the ideal destination to expand its services to?

The talent gap in Japan is growing year by year. On the other hand, international talent competition is also increasingly fierce. Especially in the IT sector, a survey published by the Japanese Ministry of Economy, Trade, and Industry estimated the demand for IT talent would continue to expand. Meanwhile, Japan’s labor force, especially the young population, is expected to decrease, and it is estimated that by 2030, the IT talent gap will reach about 790,000.

The introduction of foreign talents has become one of Japan’s growth strategies. The government has expressed the necessity to accept foreign talents with advanced knowledge and skills to accelerate Japan’s productivity and innovation. On June 9, the Japanese Cabinet approved a plan to expand the “Specific Skills 2” residence status, which skilled foreign workers can acquire, from the current two fields to 11 fields. This suggests that more foreign talents will be accepted in the future.

Bossjob has been serving the SEA market for more than seven years. Based on our data, we have observed an increasing trend in Japanese companies recruiting talents on Bossjob. Before entering the Japanese market, many Japanese companies, such as EQUINIX, % Arabica, and IPS Co., have been using Bossjob, primarily recruiting international talents for the Southeast Asian market. Therefore, after Singapore, Hong Kong, and Indonesia, we chose Japan as the next stop for Bossjob’s internationalisation.

How does expanding to Japan differ from Singapore and Indonesia? What preparation do you need to make?

The job market in Japan leans toward the conservative side, being dominated by numerous established recruitment agencies. This makes it challenging to penetrate the traditional market. However, in recent years, the rise of emerging industries such as the internet and blockchain has opened new doors for us, presenting fresh opportunities and markets. In Japan, we mainly aim to cover emerging incremental markets that have yet to be tapped by traditional channels.

On the other hand, the Southeast Asian (SEA) market is quite diverse and fragmented. Our strategy in this region is to concentrate on servicing pivotal businesses and demographics. For instance, in Indonesia, an emerging nation with a geographically dispersed market and a lower GDP, we direct our energies toward catering to key enterprises.

In the process of globalisation, our priority is to localise our products. We gear up for handling multiple languages and configurations and building local teams.

Also Read: Driving financial inclusion in the Philippines: Why last-mile communities are key to winning the battle

What potential challenge do you anticipate? How do you plan to tackle this?

One of the most significant hurdles we encounter while trying to penetrate the Japanese market is the entrenched business relationships between existing recruitment players and corporations, which makes gaining a foothold in the established market quite challenging. Consequently, we’ve chosen to strategically concentrate our efforts on Japan’s high-growth emerging industries like IT and blockchain for our next key growth directions.

Can you tell us the profile of your users in Japan and your user acquisition strategy to reach out to them? Do you have any specific target for your first year in Japan?

The Japanese market represents both a challenge and an opportunity for Bossjob, requiring a strategy that strikes a balance between assertive market penetration and cultural respect. The market is relatively conservative, and users prefer localised products.

At the current stage, we hope Bossjob will serve as a bridge between international talents and Japanese companies in the Japanese market. So far, Bossjob has over 2.9 million registered users, which is the successful first step for us in entering the Japanese market. After entering the Japanese market, we will offer free policies for corporate clients aiming to stimulate a surge in our corporate client base.

Our user growth strategy is multi-faceted:

Firstly, there is our product strategy. We continuously innovate and improve, adopting the “Mobile+Direct Chat+AI Matching” (MDD) innovative model, which introduces online chat into the recruitment scene. Leveraging cutting-edge technologies such as artificial intelligence algorithms and big data, we provide highly matched candidate recommendations to employers and offer job recommendations to job seekers. This improves the precision of matching between them, enabling users to experience more efficient recruitment. This is the core of our sustained user growth.

Additionally, the Japanese IT industry is a late-mover market, and comparable players are rare. Our strategy is to achieve wide coverage first and then wait for the market to develop to a certain scale before implementing advanced paid features.

Secondly, there is our marketing strategy. We will focus on the pain points and preferences of Japanese users and corporate clients, continuously investing in brand awareness, social traffic, and word-of-mouth referral.

Also Read: How Salmon aims to promote financial inclusion with AI banking in the Philippines

What support do you get from your partners and investors in this expansion process?

Our partners and investors have continuously been supportive and are optimistic about Bossjob’s globalisation efforts. The specific details of their support are not convenient to disclose at the moment.

What is your big plan for 2023 apart from the expansion?

Our strategic blueprint for 2023 is centred on enhancing our core competencies and fortifying our technology and data barrier for future growth. The goal is to ensure our sustained ability to provide service to businesses and individuals worldwide, have the unique capability to serve corporations across the region and have an edge over our competitors in solving core issues for our clients.

As Bossjob navigates its plan for globalisation, we aspire to further augment our capacities in key areas: commercial viability, scalability, and the ability to continuously iterate and innovate. We are committed to maintaining an adaptable and forward-looking approach that will enable us to thrive in the evolving global business environment.

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Image Credit: Bossjob

The post How Bossjob plans to win the Japanese market with its AI-powered career platform appeared first on e27.

Hong Kong-based artificial intelligence and Web3-focused startup Moonbox has received US$1 million in funding from OKX Ventures, the investment arm of global crypto exchange and innovative Web3 company OKX.

The startup will use the investment to accelerate product growth and continue developing its core technology, centred on building applications powered by the latest generative AI technology for Web3 and NFT applications.

Moonbox focuses on developing an interactive protocol with AI that can give life to different digital assets, including NFTs. In July 2023, the company was granted Stephen Chow’s cinematic IPs for use in NFTs.

Also Read: Unstoppable pioneers of Web3: 16 women spearheading the change

The company plans to launch a series of AI-powered NFTs and applications inspired by the art and film industry by the end of 2023.

Moonbox Senior Advisor Ignious Yong said: “Our mission at Moonbox is to power the Web3 ecosystem, and NFTs in particular, by providing fully immersive experiences with the use of generative AI technology. We are confident that the integration of AI and Web3 will make NFTs more fun and valuable, creating a larger variety of use cases in the film and entertainment industries, and attracting users from all walks of life.”

OKX Ventures has invested in over 300 projects across the areas of blockchain infrastructure, Web3, NFT and others to promote the sustainable development of the global blockchain industry.

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(The image used in the article is AI-generated)

The post Moonbox raises US$1M to launch AI-powered NFTs, apps appeared first on e27.