According to STEPVR, video creation plays a pivotal role for businesses and professionals in conveying information in this era of the internet and short videos. However, the existing video production processes are often tedious, costly, and time-consuming, making them inaccessible to small to medium-sized enterprises (SMEs).

AI-based video creation tools are supposed to be helpful for this, but challenges remain.

“Existing AI video technologies have primarily excelled in isolated areas, generating short dynamic scenes from a single image or crafting creative videos based on textual descriptions. Regrettably, these technologies often remain ‘novel and interesting,’ struggling to find practical applications,” says STEPVR President Dr Guo Cheng in an email interview with e27.

To tackle that problem, STEPVR developed a Generative AI-powered video generation platform to make video production as simple as creating a slide presentation for businesses. It can even create digital avatars that verbally articulate a written script in a selected Southeast Asian language.

“We are committed to reverse engineering the entire spectrum of AI technologies essential for video production and seamlessly integrating them into a genuinely practical product. Unlike other solutions, our AI video generation tool is lightweight, allowing users to effortlessly create talking-head videos akin to producing a PowerPoint presentation—making the process more efficient, concise, and tailored to individual needs.”

Also Read: How Transparently.AI uses Artificial Intelligence to detect accounting manipulation, fraud

STEPVR currently has 10 core members involved in its AI project and is planning to expand its team further.

The company was part of the AI Trailblazers initiative, Singapore’s first Generative AI Innovation Sandboxes established to accelerate the development of generative AI solutions that address organisations’ real-world challenges. The initiative is part of MCI, DISG, and Google Cloud’s strategic collaboration to bolster the country’s National AI Strategy.

To learn more about STEPVR, check out this edited excerpt of our interview with Dr Guo Cheng:

Can you tell us a bit about your product development journey? How did you come up with the idea and concept?

During the surge in Generative AI technologies, STEPVR actively explored solutions for AI-generated videos. However, the exorbitant cost of developing large models led the team to a pivotal realisation. Generic AI video tools had become the “Colosseum” of industry giants, unsuitable for startups and small to medium-sized enterprises. To thrive, STEPVR needed to identify niche demands and carve out a path towards commercial viability.

At that moment, as the team meticulously organised product information through PowerPoint, a groundbreaking idea emerged. What if they could create a promotional video by employing a similar approach? This could circumvent the traditional processes of scripting, shooting, recording, editing, and post-production effects, liberating productivity entirely.

Moreover, this demand was necessary for startups, sales professionals, business executives, and office workers. An AI-generated high-quality video had the potential to make their products or companies stand out, with a strong willingness to pay for such a service.

Also Read: These Artificial Intelligence startups are proving to be industry game-changers

In a remarkably short period, STEPVR established a web-based AI video tool. This tool seamlessly integrates elements such as digital spokespersons, material images and videos, copywriting, logos, and AI-generated images, focusing on producing enterprise-level promotional or personal introduction videos.

How do you envision your product will be in the next few years?

Our vision is to build a substantial base of paying users globally in the future, with a stellar reputation, genuinely serving the branding needs of SMEs and individuals. Simultaneously, we aim to liberate the productivity of more video producers, providing a valuable service to the broader community.

Who are your users? How do you acquire them?

In the initial phase, STEPVR is targeting SMEs with a user base of several hundred people, aiming to secure initial funding through collaborations with corporate clients. Simultaneously, there are plans to advance the development of the personal edition of our product.

As the parent company primarily engaged in metaverse VR, wearable devices, and robotics, STEPVR’s parent company has accumulated several years of experience with its global sales team and clientele. In the AI product line, STEPVR is confident in leveraging its existing channels to acquire its initial user base.

Additionally, the team will continue participating in major AI competitions and presentations. Furthermore, efforts will be made to establish a communication matrix on social media platforms both domestically and internationally, ensuring that more users become acquainted with STEPVR’s products and expanding its influence.

Also Read: Artificial intelligence has been flourishing incredibly in these 5 Southeast Asia technology hubs

What is your business model?

We aim to initiate our exploration with a B2B model, subsequently advancing our product lines into B2C. We are open to capital infusion throughout this process to fuel further development and investment.

Globally, Singapore is one of the most promising countries regarding AI implementation. Is there any specific opportunity that you want to tap into here?

Singapore will serve as the overseas data centre for STEPVR’s AI video products. The region is conducive to the high-tech industry and boasts a significant pool of potential users. The team identified a substantial business opportunity during the initial market research phase. Many SMEs in Southeast Asian countries lack localised and customised AI video generation tools.

Simultaneously, they find it challenging to afford off-the-shelf AI tools from Western markets. This presents STEPVR with a tremendous business opportunity.

What is the role of partnership in helping you grow your business?

During the recently concluded AI Trailblazer Accelerator programme, a joint initiative by the Singapore government and Google, STEPVR’s product received substantial support.

With Google providing cloud computing services and guidance from its technical team, STEPVR enhanced its product’s user experience significantly. Looking ahead, STEPVR is committed to ongoing collaboration with its partners, continuously refining the product to deliver improved services to its users.

What is your major plan for 2024?

We aim to have 100 enterprise-level users by the year 2024.

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Image Credit: STEPVR

The post With STEPVR, making AI-generated videos is as easy as creating PowerPoint presentation appeared first on e27.

Many of us are familiar with the advantages of setting up a Singapore-based business, making it an attractive location for startup founders and entrepreneurs in Southeast Asia.

Aside from its benefits, the city-state has also made it relatively easy and quick to incorporate your business in the country—that’s if you are a local. Truth be told, the process isn’t as straightforward for foreign directors like myself.

Before diving deeper into the details, let’s quickly review why it’s worth incorporating in Singapore.

Strategic geographical location

Being situated right in the heart of Asia, Singapore’s strategic location gives businesses a steady platform for expansion in the region and increased connectivity to the rest of the world.

With extensive air connectivity as a result of a robust supply chain management system, Changi Airport serves more than 100 airlines with over 62.2 million passengers passing through the airport each year.

On top of being a centralised hub, this also gives founders and modern business owners easy access to an open market of four billion people in Asia.

Free trade agreements (FTAs)

To keep up with the dynamic global landscape, Singapore has one of the most extensive networks of free trade agreements. To date, it has implemented 22 bi-lateral and regional FTAs including the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), which opens up a gateway to a plethora of suppliers and service providers around the globe.

This is a big deal especially for companies looking towards expansion in Southeast Asia as these trade agreements include treaties with all 10 members of ASEAN, giving you a better edge when entering the regional market.

Also Read: A sneak peek into 8 Singapore startups joining Big Idea Ventures’s New Protein programme

Ease of doing business

Unlike other nations around the world that require founders to be physically present to incorporate their business in the country, setting up your company in Singapore is incredibly swift and seamless. In fact, the incorporation process can be done completely online and in just a matter of minutes.

More and more business owners are becoming more reliant on digital solutions thanks to the rise of remote setups and the current state of international travel.

With a fully digitised procedure, foreign directors easily incorporate their companies in Singapore and get started with their operations in no time.

Politically stable environment

Compared to its counterparts in the region, Singapore has consistently ranked as one of the most politically stable countries in the region, making it a highly conducive environment for growth.

With the ongoing geopolitical strife between China and the US, many businesses are steering clear from these territories, leaving Singapore as the better and more sustainable alternative in the long run.

Access to funding and resources

Unlike big multinational corporations, startups rely heavily on external funding to kickstart the growth of their business. Fortunately, the Singapore government is incredibly supportive of startups from all sectors and has grant schemes and tax incentives in place to encourage foreign entrepreneurs to join Southeast Asia’s leading business hub.

Apart from government initiatives to provide funding for startups, there is a wide array of credible venture capital funds, incubators, and accelerators in Singapore designed for both local and international entrepreneurs.

Why it can be difficult for foreigners

Physical presence is required

Unlike local founders, foreign directors have to go the extra mile and make their way to Singapore as most incorporation packages require applicants to be physically present for a plethora of reasons.

This includes everything from paperwork, bank account opening, proving the legitimacy of the documents, as well as multiple director coordination.

Also Read: A beginner’s guide to incorporating tech startups in Singapore

While this requirement is justifiable to a certain extent, it is incredibly taxing on the director’s end, considering that additional arrangements have to be made from booking flight tickets to even finding the time to travel all the way to Singapore.

The process is backward 

Before getting your Singapore-based company up and running, there are various requirements that founders need to adhere to prior to carrying out business activities. In Singapore, at least one local resident must be a part of the company’s group of directors. For founders who have no existing network of connections in the country, this step can be rather challenging to fulfil.

Having a local registered business address is also another requirement that directors need to achieve before commencing operations.

Some might say that the process is backward as most systems across the globe prioritise getting companies registered first before taking care of the nitty-gritty details like forming your board of directors or having an office address.

Non-transparent information 

For some firms specialising in business registration for companies, there is a lack of transparency in the information provided to foreign directors upfront. Incorporation packages may come with hidden fees and additional requirements, leaving founders in the dark once it’s time to make a payment.

It is also likely that such companies are more focused and persistent on selling their services rather than building trust in their customers first, which may not sit well for most foreign directors.

Unfortunately, we weren’t exempted from these challenges. Having gone through these pains firsthand ourselves, we decided to solve the problem for other founders. Here’s how we did it.

How we solved the problem

Seeing fellow directors face the same problem, we took matters into our own hands and created a comprehensive solution that would streamline the incorporation process for Southeast Asia founders.

Earlier this year, we launched a solution stream, Aspire Kickstart, to equip startups with everything they need to launch their business in Singapore.

In just 10 minutes through a 100 per cent digital application procedure, foreign directors can incorporate their companies in the city-state and get a business bank account both at the same time.

Also Read: Tembusu Partners’s e-sports fund invests US$1M in Singapore’s RSG

Full Stack Data Founder Rishabh Srivastava’s experience included making multiple physical visits to various firms and banks, along with an endless amount of documents for verification. With Aspire’s incorporation process, all of that has been cut down to a tee.

With minimal paperwork and transparent pricing, founders can let our team of incorporation specialists take over and facilitate the entire registration process from submitting all application paperwork to ACRA, filing legal documents and financial reporting on behalf of new business applicants—all for an affordable price that won’t break the bank.

Being a startup ourselves, we understand how important it is to generate savings and create inexpensive solutions for fellow entrepreneurs.

As much as we would have liked to have a seamless incorporation process during our time, we are glad to have created and extended this service to aspiring entrepreneurs and business owners in Southeast Asia to give them a head start in their entrepreneurial journey in the city-state.

Since our incorporation, Aspire has reaped significant benefits and seen exponential growth in our business, and hope that fellow founders can enjoy a piece of the pie that Singapore has to offer as well.

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. This season we are seeking op-eds, analysis and articles on food tech and sustainability. Share your opinion and earn a byline by submitting a post.

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Image Credit: Aspire

This article was first published on April 21, 2021

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If you’re ready for PR, finding the right Public Relations agency demands a bit of strategic scrutiny.  I’ve been on both sides of the fence — picking PR firms in my in-house roles and running my own PR agency for 10 years.

Here are my insights into the nuanced world of selecting a PR agency. In my candid insight, I share essential considerations, from getting clear on PR objectives, budgets and industry expertise to the delicate art of cultivating long-term professional partnerships.

I ran my own PR agency for 10 years, V&VPR, which is a question I still get asked often. Here is my insider scoop on what everyone needs to know before hiring an agency– the good, the bad, and everything you need to keep an eye out for when hiring a PR agency:

What you need PR for

Determine what you really need PR for. Is it a new product launch, building up brand awareness, handling your reputation, or maybe some crisis comms management? This will guide you to the right agency — some only do Crisis Comms, for instance.

But, a heads-up: if your product or service isn’t up to scratch — substandard products/bad customer experience/your e-commerce is slow. No amount of PR magic can save you in the long run. I’ve seen it happen. Ensure you have a quality offering to begin with. Bad news travels fast, especially thanks to social media, and you want to aim for a high repeat business ratio (the cheapest form of customer acquisition).

What’s your budget

Decent agencies these days won’t bat an eye at anything less than SG$6K (US$4,462) per month for at least three months. Folks that went for cheaper options came running back when the said cheaper guys didn’t perform.

Also Read: Barbie-fy your business with the power of PR

Lesson learned: you pay peanuts, you get monkeys. If you can’t afford an agency yet, there’s lots of DIY help out there to do it yourself, including what I’ve been doing with my Media Insiders Summits and HYOPR teaching PR cohorts. Carve out some time to do a little DIY and, in the background, save to get a good agency.

Industry experts rule

Pick an agency that knows your industry like the back of their hand. If you’re in travel, go for a crew that’s all about lifestyle or travel PR. It doesn’t always have to be super niche, though; sometimes, expertise from slightly different yet complementary fields like wellness, food, or hotels can work well as opportunities for partnerships. They should know your market, your rivals, and the latest trends so they can guide you on standing out in the crowd.

Creativity and flexibility

Your agency needs to be creative and flexible in today’s wild and ever-changing world. They’ve got to be able to cut through the noise with innovative strategies and roll with the punches when things get crazy — think economic shifts, political drama, or, hello, a global pandemic. Check out their testimonials and case studies, and have a chat with their current/past clients to see if they’ve got that creative spark and adaptability.

Who’s in their black book?

Ask them about which journalists they rub shoulders with — that’s part of what you’re paying for. A good agency should have a little black book of media contacts, and they’ve got to be buddies with the right people. Trust me; you want your brand in the hands of a trusted agency, not just any Joe Bloggs agency with a ‘Spray and Pray’ approach.

Set expectations and KPIs

Lay it all out on the table — what you expect and what they can realistically do. Work together to agree on some sensible KPIs. Forget about outdated metrics like AVE. Focus on SMART goals and objectives that actually matter.

Respect the partnership

Treat your agency like a partner, not just a service provider. Let them do their thing, respect their boundaries, and don’t throw curveballs for unrealistic, unnecessary deadlines. Remember, they’re juggling other clients too. Treat them right, and they’ll bend over backwards when you need it.

Also Read: How startups should approach public relations

Understand the process

PR can actually be pretty fun and interesting! Ask the questions and get to understand the process, make an effort to understand the agency, and let them get to know you. The more you understand how the media world works and what’s relevant, the better you can work together in creating effective campaigns. You’ll soon realise that getting on the front page of a national newspaper doesn’t happen overnight.

Account Management 101

Before you seal the deal, make sure you know who’ll be managing your account. No one wants to be handed off to an intern who’s still figuring things out. Check that the designated person knows their stuff. You can also work your (fair) KPIs into the contract with review dates.

Are they nice people?

Do they work ethically and treat their team well? Do they align themselves with ethical brands and people? There’s much to be said about kind, happy PR teams treating each other and their clients with care. You also don’t want to be associated with an agency representing brands that are unethical for obvious reasons. Ask yourself, can I actually work with these people?

Take your time in the process — shortlist three and have the conversations. If you can visit them in person, even better. Your brand’s reputation is at stake at the end of the day, and you can’t get back the time, money and potential damage working with the wrong PR Partner.

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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: Canva

The post How to select the right PR agency: Key factors to consider appeared first on e27.

Unifier Ventures, a VC fund leading the way in cross-regional connections between Europe and Southeast Asia (SEA), recently secured EUR 6.25 million (US$6.7 million) to make the first close of its first fund.

Unifier Ventures strategically targets three key markets: Europe, SEA, and the US, while its distinct value proposition centres on bridging the gap between Europe and SEA by facilitating the exchange of ideas, talent, and capital. After a year of operating in stealth mode, it has already invested in seven companies.

In an interview, its Managing Partner, Miguel Encarnacion, provides insights into the firm’s vision, strategies, and pivotal role in shaping the future of cross-regional collaboration and innovation.

Edited excerpts:

How does Unifier Ventures determine the allocation of funds across Europe, SEA, and the US? Can you elaborate on the criteria and considerations in selecting companies for investment in these regions?

As a German-domiciled fund, we have hard-coded a 70 per cent allocation for Europe. The remaining 30 per cent can be invested in the US or SEA. We have different strategies across the three geographies we cover.

• In Europe, we look for cross-cultural, cross-functional founding teams that can build a global product and company culture to be in a position to scale internationally much earlier than homogeneous founding teams.
• In SEA, we look for repeat founders with a track record of entrepreneurial success, if not yet startup success.
• In the US, we look for underrepresented founders with unique insights into large, unaddressed markets.

Of course, finding all those characteristics in one team from any market would be amazing!

Why did Unifier Ventures choose to operate in stealth for the past 12 months? What advantages did this approach offer in the competitive VC landscape?

Many funds need to be announced immediately as part of their fundraising efforts. As a micro fund with an anchor investor in place and the first close amount secured, we just decided to jump right in and start investing before we work on all our brand materials. So, honestly, it was a matter of bandwidth as a small team.

How did Unifier Ventures establish partnerships with family offices behind prominent entities like the Bank of Makati and Seaoil Philippines? Can you shed light on the LP selection process and how these partnerships contribute to the firm’s strategic goals?

I used to manage the family office behind Seaoil Philippines, and it is now our anchor investor. During the five years of managing the family office, I built strong relationships with other family offices in the Philippines and a few more across the region.

Ultimately, we look for family offices with a digitalisation mandate across their core businesses so they can be the pilot customers for the startups we invest in, especially European startups looking to enter SEA.

What challenges and opportunities does Unifier Ventures foresee in bridging the gap between Europe and SEA in terms of capital flow and the transfer of ideas and talent?

The startup ecosystem in SEA is still relatively young, with very few exited founders having funnelled money and expertise back into the ecosystem. This is in stark contrast to the US and, to an extent, Europe, which already has a pool of exited founders setting up VC funds and venture builders to support the next wave of founders.

We also lack senior and middle management employees from startups that have gone through hyper-scale going on to join younger startups and build their own companies. That’s why it’s important for SEA founders to be plugged into other startup hubs globally to find strategic investors and experienced scale-up talent from other markets.

We focus on bridging Europe and SEA because we believe the scaling playbook is similar for these two regions, with smaller neighbouring countries having different languages, cultural nuances, and regulations.

From day one, the mindset for founders in the EU and SEA must be to ‘win locally but think globally’, which might not be necessary for founders building in mega markets like the US, China, and India. That is both a challenge and an opportunity for founders willing to navigate the complexity.

How does Unifier Ventures perceive the startup ecosystem in Europe compared to Southeast Asia? Are there specific industries or sectors within these regions that the fund finds particularly promising

Being a young startup ecosystem, many proven winners are still coming from e-commerce, fintech, and logistics tech. This is the usual starting point since people want to buy online, need to pay for these items and expect to have them delivered.

We see an opportunity to support these scale-ups with workplace technology solutions suitable for young, tech-savvy populations. We like the sector because it has broad applications across industries and allows us to recommend these solutions to our entire network, including the corporations behind our LPs and portfolio companies. Europe is particularly strong in building B2B software products.

Despite the initial focus on workplace technology with four of the first eight portfolio companies in that sector, we view ourselves as a generalist fund and already have portfolio companies in adtech, Web3, ESG, and healthtech. We’re driven more by the geographic relevance to SEA, whether the founders know it themselves or not. So, there is also a lot of interest in proptech and logistics tech because of the archipelagos and smart cities being built across our home region.

What are Unifier Ventures’s expansion plans in Southeast Asia to strengthen its connections between Europe and the region further?

As a micro fund with a small team, a big part of our strategy is to be involved with the right networks. For the past six years, we have been very involved with AsiaBerlin, which organises an annual tech conference boasting one of the largest attendances of Asian startups and investors in mainland Europe.

In 2024, one of our new projects is to help with the relaunch of Skytrain, a member-driven association of emerging fund managers across Europe. We are organising a delegation trip together with these two groups to come to SEA in Q3.

How does Unifier Ventures measure the success of its investments beyond financial returns? Can you provide examples of how the fund has contributed to the growth and success of portfolio companies in SEA?

One of our key success metrics is to build customer relationships between our portfolio companies and the operating companies of our LPs. A strategic investment is usually an intermediate step to facilitate this.

For our portfolio company Otis, we helped them raise 5x more capital than our initial investment amount directly from other family offices in the Philippines. This ultimately led to them securing a contract from a large insurance company affiliated with one of the families.

We also like to support with hires, especially for our European portfolio. For our German portfolio company Blockbrain, we helped them build a small team of Web3 researchers in the Philippines.

For startups looking to attract investment from Unifier Ventures, what advice would you offer in terms of aligning with the fund’s mission and demonstrating value in the Southeast Asian market?

In SEA, we look for founders with previous insights and track records across multiple countries. We want to support startups with clear use cases across the region and not just solve country-specific problems. That allows us to leverage our network of regional family offices and even bring in potential co-investors from Europe.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

The post ‘Founders in SEA should connect with global startup hubs’: Miguel Encarnacion of Unifier Ventures appeared first on e27.

Green COP, a sustainable fuel solutions startup based in Singapore, has concluded its angel investment round with a curated group of investors, including Ken Energy.

The funding size has not been disclosed.

The company will use funds to establish a sustainable biofuels pilot plant with a one-tonne daily production capacity. A portion of the capital will be used to bolster market outreach to nurture a sustainable economy within the maritime and transportation sectors.

Also Read: FlyORO wants to decarbonise aviation with its last-mile sustainable fuel blending tech

“This funding enables us to launch a pilot biofuels plant, a transformative milestone in our startup journey,” said Hanson Lee, Co-Founder and CEO of Green COP.

The deeptech startup has also appointed maritime veteran Teo Teng Seng as Chairman.

Green COP produces sustainable biofuels derived from biowaste, strategically focusing on fostering a circular economy in the maritime and transportation sectors. Its patented pre-treatment and fermentation technology yields more efficient drop-in fuels that seamlessly integrate with existing infrastructure, facilitating a smooth transition to sustainable energy solutions.

Unlike traditional fuels, Green COP’s colourless alcohol-based biofuels offer a cleaner, eco-conscious energy alternative. Its biofuels have an extended shelf life of more than 24 months, contributing to a 30 per cent reduction in Nitrogen Oxide (NOx) emissions.

Also Read: ‘Founders in SEA should connect with global startup hubs’: Miguel Encarnacion of Unifier Ventures

According to the company, it has formed a strategic collaboration with a leading global integrated palm oil player to transform biowaste into sustainable biofuels.

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Mober, an electric vehicle (EV) logistics startup in the Philippines, has received US$2 million in a seed financing round led by local family business RT Heptagon Holdings.

The company is using the funds to accelerate the integration of electric vehicles (EVs) into its fleet. Mober has already expanded its EV fleet to 60 vehicles.

Established in July 2015, Mober aims to drive the transition to green deliveries in the Philippines. The firm has developed a Transport Management System (TMS) to optimise delivery efficiency and track the CO2 savings achieved through EVs.

Also Read: Driving change: Mober’s journey towards sustainable green delivery

The company is working with several brands, such as Kuehne + Nagel, Nestle, and Maersk, to electrify their logistics operations. Notable among them is the collaboration with IKEA Philippines, aiming to electrify 100 per cent of its home delivery services by 2025. Mober has also inaugurated a flagship EV charging station in Pasay City to support its fleet, particularly those serving IKEA Philippines.

Mober will also electrify same-day delivery services for SM Appliance Center.

The company anticipates an investment round before the end of Q1 2024. This upcoming financial infusion will further accelerate Mober’s green logistics initiatives.

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The post Filipino EV logistics startup Mober raises US$2M seed financing appeared first on e27.

In September 2023, Meta made a groundbreaking announcement: the introduction of AI in beta, an advanced conversational assistant available on WhatsApp, Messenger, and Instagram, soon to be integrated into Ray-Ban Meta smart glasses and Quest 3.

These AI entities are not your typical virtual assistants; they’re designed to have more personality, opinions, and interests, making interactions far more engaging and enjoyable. What’s more, they’ve enlisted cultural icons and influencers such as Snoop Dogg, Tom Brady, Kendall Jenner, and Naomi Osaka to lend their voices and personalities to these AI companions.

Screenshot from Meta’s website page Introducing new AI experiences

Challenges and paradoxes in AI-human interaction

In an age where virtual assistants and entertainment are increasingly powered by AI, it’s not hard to imagine a future where people grow weary of the digital realm. The novelty of interacting with artificial intelligence, whether as assistants or characters in our entertainment, may soon wear off.

However, the path to this future of AI-human interaction is far from straightforward. Consider the recent experiment conducted by Joanna Stern, a columnist at The Wall Street Journal. Stern replaced herself with AI-generated voice and video, diving headfirst into a series of challenges, including creating a TikTok video, making video calls, and testing her bank’s voice biometric system. The results were nothing short of eerie.

As Stern navigated through her tasks, she found herself face to face with technology that had become astonishingly humanlike in its voice and facial expressions. The AI she interacted with mimicked her voice with almost perfect precision, making it difficult to discern from a real human voice.

Also Read: AI, the era of the 1-person unicorn (and massive job losses)

However, when it came to the video clone, there was a stark contrast. Despite the nearly flawless voice cloning, the video clone left much to be desired. It had difficulty reproducing the subtle nuances of movement and facial expressions, and the visual aspect did not match the atmosphere and context. Due to imperfect imitation, the final result was clumsy, caused ridicule, and was immediately exposed.

Human clones: Blurring boundaries and the verification conundrum

This experiment underscores a paradox that may define our future interactions with AI-driven human visualisations.

Despite a rather unsuccessful initial attempt at replicating human behaviour, technology is bound to catch up with our expectations of AI interaction. In return, people will look for more authentic experiences that truly engage our senses and emotions.

This craving might lead us to seek out the next wave of explosive interest in human avatars — clones of real personalities, historical figures, and celebrities, including our living or deceased relatives or friends.

These clones will replicate the appearance, voice, personality and even simulate the thoughts and reasoning of their real-life counterparts, blurring the boundaries between reality and simulation.

The future of AI-human interaction: From fascination to weariness

At this stage, a new obstacle will arise — the verification of clones. After all, you’d prefer to converse with or seek advice from a clone of Keanu Reeves if it’s verified by Keanu himself, wouldn’t you? Or discuss the current political situation with a Lincoln clone who has been verified to match the mannerisms, tone, and thought processes by a group of historians or institutes.

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

Just as every secure website has an HTTPS connection with a verification badge, every clone must have a verification code so that we know that this clone is “authorised” to act on behalf of a specific person.

In addition to Meta’s announcement, it’s worth noting that IT startups like Synthesia and HeyGen are getting closer to creating engaging AI avatars. These companies are at the forefront of pushing the boundaries of AI-human interaction, offering the promise of even more convincing and engaging digital personalities.

At the moment, technology is still far from being able to generate a video stream with human-like movements. For this, AI needs to “understand” how to match movements and facial expressions with text and, especially, context. This could take another five to 10 years of development.

Another issue is the computational performance required to do this in real time. Although this also seems achievable, we might soon have a clone that is visually indistinguishable from engaging in simple conversations.

As the years pass, even these astonishing AI clones will likely lose their lustre. People will grow tired of the predictability and limitations of these replicas, missing the unpredictability and quirks of genuine human interaction. It’s a paradoxical scenario where we yearn for authenticity but find ourselves in a world dominated by artificial beings.

While it is difficult to imagine at the moment, sooner or later there will come a time when people start to resent the omnipresence of AI-driven visualisations. They will begin to long for the days when human interaction was unadulterated by technology and when genuine emotions and imperfections defined our relationships. But by then, AI visualisations will have permeated every aspect of our lives, from work to entertainment, making escape nearly impossible.

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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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The post The AI revolt: How our love affair with technology could turn into a hate story appeared first on e27.

In 2024, we expect marketing strategies to evolve rapidly, following the emergence of AI-powered visual storytelling over the course of 2023. This innovative approach is transforming the way brands interact with their audiences, offering unparalleled opportunities for engagement and connection.

In this article, we explore how AI-driven visual content is reshaping the marketing landscape, supported by intriguing statistics and research findings.

The rise of visual content in digital marketing

Visual content has always been at the core of effective marketing. According to HubSpot, content with relevant images gets 94 per cent more views than content without images. This statistic highlights the critical role of visuals in capturing consumer attention.

However, with the advent of AI technologies, the creation and distribution of visual content have reached new heights. While some creative professionals have been fighting furiously against AI art on the basis that it infringes on the intellectual property of photographers and artists, the fact remains that generative art has been widely adopted. One survey found that 60 per cent of marketers are already creating visual assets using generative AI apps.

AI-powered tools are enabling marketers to create highly personalised and engaging visuals – quickly, affordably and at scale. They are able to generate engaging visuals in order to tell a story, whether fictitious or based on reality. There are true crime videos available on social media that use these AI-generated images or videos to recreate events that have happened, and the same has been done for mythology and lore. 

Moving forward, as AI begins to merge generative models with predictive algorithms that are likewise becoming increasingly sophisticated, new tools may soon have the ability to analyse individual customer data to determine preferences and trends, allowing for a more cohesive creation of targeted visual content that resonates with specific audiences. 

Also Read: The AI revolt: How our love affair with technology could turn into a hate story

Personalisation is a key factor in modern marketing strategies, and AI is playing a crucial role in this arena. By leveraging machine learning algorithms, marketers can create highly personalised visual stories based on user behaviour, preferences, and interactions. This level of customisation leads to greater engagement and a more profound connection with the audience.

Enhancing creativity and engagement with AI

One of the most significant impacts of AI in visual storytelling is the enhancement of creativity. AI algorithms can generate unique visual elements, suggest layout designs, and take into account current storytelling styles and trends. This capability not only speeds up the creative process but also introduces new perspectives and ideas that might not have been possible before.

A survey conducted by Adobe found that 76 per cent of marketers believe that AI will be fundamental in the future of marketing, with 74 per cent stating that it has already enabled them to be more creative in their approach. This data underscores the potential of AI in elevating the creative aspect of marketing.

While there have been concerns over the use of AI and how it may affect creativity, it seems that these tools are here to serve creativity rather than stifle it. Creators are no longer bound by limitations, and they are truly only limited by their own imagination. 

What’s more, it seems that brands and audiences alike actually prefer AI-created visuals. A recent study from Lightricks found that around 56 per cent of content creators have been requested by their clients to use AI to generate their content. Indeed, AI-generated content allows creators who are savvy with their prompts to achieve superior visual consistency while also increasing efficiency and speed. The data from Lightricks also indicates that 71 per cent of creators believe their followers respond positively to AI-generated images.

Production polish is no longer limited to the economic capabilities and skillsets of a content creator when they use AI tools, as they are able to create stunning content that resonates well with social media users. For instance, The Government of Dubai’s recent media campaign for their Nation Day celebrations leveraged the use of AI to create buzz-worthy and viral content. 

Impact on consumer behaviour and ROI

The influence of AI-powered visual storytelling extends beyond engagement – it directly impacts consumer behaviour and returns on investment (ROI). According to a report by Salesforce, high-performing marketers are 2.3 times more likely to use AI in their marketing strategies. 

Also Read: How should non-tech companies approach AI?

Furthermore, brands that adopt AI in their visual storytelling see an average increase of 20 per cent in sales.

These statistics emphasise the tangible benefits of integrating AI into marketing strategies, particularly in the realm of visual content. By delivering compelling and personalised visual stories, brands can significantly enhance their market presence and profitability.

As we look to the future, AI-powered visual storytelling is poised to become an even more integral part of marketing strategies. With advancements in AI and machine learning, the possibilities for innovative and impactful visual content are endless. Marketers who embrace these technologies will be well-positioned to lead in an increasingly competitive and dynamic digital landscape.

The future of marketing

AI-powered visual storytelling is not just a trend; it’s a fundamental shift in the way brands communicate with their audiences. By leveraging AI for enhanced creativity, personalisation, and engagement, marketers can create compelling narratives that resonate deeply with consumers, driving both engagement and business growth.

As we move forward, the integration of AI in visual marketing will undoubtedly continue to evolve, offering exciting opportunities for brands to connect with their audiences in meaningful and impactful ways.

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Criminals are endlessly innovative. When one door closes, they look for another. In the international fight against financial crimes, regulators have prompted traditional banks to steadily tighten their compliance programmes.

Criminals are looking elsewhere – and internet platforms such as gaming, e-commerce, social media and live streaming where large amounts of money circulate anonymously are an appealing target.

The online world is an easy place to hide your identity and large amounts of money routinely change hands for opaque purposes. Take for example online gaming platforms, where players routinely pay for in-game options or credits.

These non-transparent transactions provide a legitimate explanation for anyone who wants to hide the source of a large amount of money.

Live streaming, where celebrities and influencers receive gifts or sell products, is another appealing option for money launderers. A series of fake accounts acts as a conduit for money transfers that are difficult to track.

These are large and fast-growing markets that have been given an extra boost during the COVID-19 pandemic. The online gaming industry is growing by around 9 per cent a year and is expected to be worth more than US$250 billion by 2025, while live streaming hours watched soared by 99 per cent in 2020.

The growth of digital channels and the huge potential for financial crime through them is drawing the attention of regulators around the world.

This has significant implications for internet companies, which may not have the compliance focus and experience in place to deal with the increase in transactions, and with this, the increase in opportunities for money laundering.

Also Read: What does the future of CBDCs actually look like and why does it matter?

Regulators are watching

Regulator action and scrutiny around sanctions has steadily increased in recent years. The Accuity Sanctions Pulse shows that three of the major regulators– the US Office of Foreign Assets Control (OFAC), the European Union and the United Nations– updated their sanctions lists 210 times in 2020.

Sanctions-related fines issued by OFAC alone exceeded US$1.3 billion in 2019. Other countries are also increasing their sanctions activity; in September 2020 China’s Ministry of Commerce announced proposals to introduce an Unreliable Entity List regime.

The financial services sector was initially the focus of regulators’ attention, but sanctions risk can touch any business. Any entity that deals with US dollar payments, for example, will come under OFAC’s spotlight.

More than 300 OFAC-sanctioned entities are based in Asia but more importantly, most foreign exchange transactions involve a dollar conversion at some stage. That means that OFAC will take an interest.

Regulators have widened their scope more recently. The Financial Action Task Force (FATF) specified in 2020 that its recommendations should apply to non-financial businesses and professions with a high risk of money laundering – including virtual currency custodian wallet services and crypto-fiat exchanges.

The FATF recently issued standards designed to prevent the misuse of virtual assets for money laundering and terrorist financing, which effectively means that virtual asset and asset service providers must adopt the same risk-based approach to anti money laundering and counter terrorist financing that applies to financial institutions.

Individual regulators in Asia are following suit. The Monetary Authority of Singapore, for example, introduced its Payment Services Act in 2020 to better regulate the cryptocurrency sector and amended the Act in 2021 to reflect developments in digital payment token activities.

Regulators are not afraid to act. Two major internet companies have been issued penalties by OFAC for sanctions violations in the past two years as a result of deficiencies in their in-house sanctions screening systems.

The breaches were self-reported and the fines were small but the cases have highlighted the regulatory, financial and reputational risk that internet platforms could face.

Also Read: What opportunities lie ahead for compliance technology in 2020 and beyond

Internet companies need their own defence

Traditional banks and internet platforms are, in reality, close partners. Irrespective of how transactions are generated, they are inevitably routed through banks. Internet companies are some of the most important customers for the ‘traditional’ banking sector.

This matters because regulators have made banks the gatekeepers in the international fight against financial crime and banks increasingly see non-financial companies as one of their most significant areas of sanctions risk.

Our research found that a quarter of all suspicious activity reports generated by banks involved a non-bank payment provider. Banks carry out sophisticated sanctions screening – but in a world where criminals are constantly looking for weaknesses, can internet companies continue to rely on banks to be their main line of defense?

The answer is categorically no. The direction of movement from regulators is clear; internet companies must quickly take steps to strengthen their own defenses.

The challenge for these businesses is putting a sanctions compliance program in place that manages and minimises the risk of financial crime in a way that preserves the customer experience – the unique selling point for internet companies.

Creating a robust compliance system

There is no doubt that internet companies face unique challenges around compliance and most significantly the anonymity of the online world. Internet platforms are accessible by anyone from anywhere. But given the sophisticated technology-based solutions available on the market, setting up robust defenses need not be difficult or complex.

The good news is that internet companies have a distinct advantage over the traditional banking sector when it comes to financial crime compliance:

• None of the legacy technology infrastructure issues that most traditional banks have grappled with
• Comfortable with digital transformation
• Cleaner customer behaviour data that allows for better analysis to help spot unusual activity
• Agile and can move quickly 

There are some areas where internet companies are at a disadvantage. Most notably they have little direct experience of financial crime compliance but generally, implementing customer onboarding and monitoring systems is a straightforward process.

Also Read: A shift toward a cashless society goes beyond fintech, and it requires behavioural change

A compliance program should be designed to match the specific risks that each company faces. Some geographies, products and customers (such as high net worth individuals or shell companies) are riskier than others but the common thread underpinning successful compliance is automation.

Financial crime screening solutions introduce robust and rapid screening checks through a series of seamless straight-through-processing steps:

• Background checks – digital KYC systems automatically check that the digital identity (such as the Wi-Fi connection and email address) has not been connected with financial crime in the past
• Identify verification – data from a photo ID or passport is automatically checked for authenticity
• Full identity verification takes place, including full name, address and phone number
• Sanctions, PEP and adverse media checks are applied using the latest lists from major regulators, law enforcement agencies and media outlets around the world
• Periodic checks for changes in status
• Ongoing digital monitoring in real time

This approach means that alerts are only raised on an exception basis, reducing the amount of time and effort spent on manually checking false positive alerts.

The result is a system that maintains a smooth and responsive customer experience but minimises risk for the company and keeps internet companies one step ahead of the criminals.

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This article was first published on June 29, 2021

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