Math is known to be one of the most feared school subjects for many students. According to ZEZEDU CEO and Founder Jujin Lee, in South Korea, the high rate of math dropouts and the expanding private education market are major social issues.

This is the problem that the startup aims to tackle with its product CherryPot.

“We use AI to recognise and diagnose how students are solving problems. Then, we provide accurate feedback based on students’ responses, making the highest level of personalised learning experience affordable with AI technology,” he explains in an email to e27.

According to Lee, the traditional approach to personalised learning in edutech is to predict performance based on a student’s history of correct answers per question. However, this doesn’t work in secondary school math because it takes a long time to solve a single problem, and each problem itself is complex.

“When you think about the way we receive 1:1 tutoring, it is quite obvious to utilise the solving process. However, until now, there has been no publicly available dataset or model to create a math-specific AI technology to recognise and diagnose the process, so existing services have only been able to use the correct or incorrect answer. We built our own data and models from the ground up to focus on the solution process,” he explains.

Also Read: AI Blocks, revolutionising education with easy and effective AI technology learning

“In our app, a student solves three to five problems per day from the chapter of their choice. That’s a very small number, but it’s enough to provide personalised, process-based learning. Even for students who don’t like to do math, five problems are not overwhelming. A simple scenario for our service would be to give feedback on how they did on these problems and provide them with personalised problems the next day. We also provide a dashboard and assignments feature for school teachers.”

ZEZEDU primarily targets secondary school students, with most of them using the service through public schools, with the budget from the government.

Teaching math to the world

According to ZEZEDU, its CherryPot platform has been used in more than 160 schools in South Korea with various scenarios, from in-class activities to after-school programmes. The company went from having three schools using their service in the first year of its launch to signing an MOU with schools affiliated with Seoul National University to expanding its work with the Seoul Metropolitan Office of Education and Ministry of Education.

“Our biggest strength is our AI; since there were no publicly accessible resources for constructing process-oriented AI models, we have been started by creating our proprietary dataset for model development. It hasn’t been long since AI automation of the whole learning process became possible with our technology,” Lee says.

“We integrated our AI into our service as ‘Cherrypot 2.0’, and we started sales to schools. We remain committed to advancing our AI model even further, elevating our AI capabilities.”

Prior to founding ZEZEDU, Lee was the youngest full-time member at Kakao Brain as an AI research Engineer, being awarded a Minister Award and SW Maestro Certificate. He was also awarded a SW Maestro Mentor.

Also Read: Why GoImpact believes that education is the key to promoting ESG investment

“I am … fortunate enough to have with me Minji Cha, an award-winner in multiple autonomous driving competitions as our R&D Director, Jaehyung Baek, who was awarded by the Ministry of Science and ICT in an AI competition as our AI (Natural Language Processing) research engineer, and Sunah Kim, our learning material design and platform operation,” he says.

For 2024, the big plan for ZEZEDU is to make a profit in the global market, including Southeast Asia (SEA), through its participation in the EduSpaze accelerator programme.

“We’re proud to say that we’re the only Korean company to be selected as one of the ASU+GSV Elite 200 companies that select promising edutech companies every year. We are also enthusiastic about our participation in the EduSpaze programme,” he closes.

“Our objective is to identify suitable markets and build effective strategies for the successful introduction of CherryPot in the SEA market. We are looking forward to accelerating our market entry by having a chance to collaborate with EduSpaze.”

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As we commemorate World Electric Vehicle (EV) Day 2023, themed ‘Driving Change, Together,’ Altair takes pride in highlighting our commitment to sustainability through cutting-edge AI solutions and acknowledging groundbreaking advancements in the field. The recent announcement of the recipients of the 2023 Altair Enlighten Award serves as proof of our unwavering dedication to driving sustainable change.

EVs play a key role in addressing climate change, and Altair is committed to making EVs more sustainable. In today’s world, sustainable practices are more crucial than ever, and we remain at the forefront of innovation by harnessing the power of computational science and Artificial Intelligence (AI) to create a greener, more efficient future.

The Altair Enlighten Award, now in its 11th year, serves as an inspiration for the industry. It encourages engineers, manufacturers, policymakers, educators, students, and the public to push boundaries by reducing carbon emissions, minimising energy, water, and material use, and championing material reuse and recycling efforts.

The winners of the 2023 Altair Enlighten Award epitomise sustainability. These innovators are revolutionising the industry by prioritising our planet’s well-being. One notable winner, Polestar, has set a new standard for sustainable passenger vehicles with their Polestar 2 model. With advancements in electric motor technology, charging efficiency, and range, the Polestar 2 boasts better performance and lower carbon emissions compared to their earlier models.

In terms of sustainable processes, ArcelorMittal stands out for its pioneering use of biomass in carbon-neutral steel production by embracing solutions that both decrease emissions and establish regional energy ecosystems.

Altair’s commitment to sustainability extends beyond the realms of products and processes. The Responsible AI category highlights our belief that technological progress should enhance energy efficiency, reduce waste, and streamline operations.

Volteras, this year’s Responsible AI category winner, gives businesses access to EV ecosystem data with a two-week integration that would otherwise take organisations years to integrate. Its products allow organisations to reduce energy waste and emissions, better manage EV fleets, optimise charging across home chargers using its smart charging algorithms, and more.

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

The awards also featured other categories, including Enabling Technology, Module Lightweighting, and Future of Lightweighting. Toyota, BASF Corp., and US Farathane emerged as winners in these categories, showcasing exemplary innovation with their achievements – Toyota’s groundbreaking adoption of a resin frame for the IsoDynamic seat, Toyota, Adient, and Multimatic’s development of the IsoDynamic seat Accra® SuperStructure, and Marelli’s creation of a lightweight urethane for interior products. These accomplishments spotlight how the industry’s leading minds are harnessing cutting-edge technologies and responsible AI to create a more promising and eco-conscious future.

Empowering Malaysia’s journey towards electrified vehicles

According to the Road Transport Department of Malaysia, the number of fully registered EVs in Malaysia has exceeded 10,000 as of December 2022. This figure is a component of a larger pool of 100,000 electrified vehicles, which includes fully electric and hybrid vehicles – a remarkable stride towards greener transportation.

In its revised budget for 2023, Malaysia introduced various measures to further drive EV growth. These measures include extending tax exemptions for imported and locally assembled EVs until 2025 and 2027, as well as granting full tax exemption for EV charging equipment manufacturers from 2023 to 2032. These actions demonstrate the nation’s commitment to fostering a thriving EV ecosystem.

The recent entry of Tesla into the Malaysian market serves as an indicator of the viability of EVs in the country, supported by these supportive policies and incentives. This significant development shows that Malaysia is inching closer to achieving its goal of net zero emissions by 2050.

In a world where sustainable practices are becoming increasingly essential, let us remember that a cleaner and more sustainable future is not merely a potential outcome but a responsibility we all share.

Happy World EV Day — Let’s drive change together!

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Global early-stage VC firm 500 Global has raised US$143 million for its third early-stage fund (500 Southeast Asia III) and growth investment vehicle for Southeast Asia.

The Limited partners (LPs) across its early-stage and growth investment vehicles include a sovereign wealth fund, public and private pension funds like Khazanah Nasional Berhad, Kumpulan Wang Persaraan (Diperbadankan) [KWAP], and Employees Provident Fund (EPF).

A university endowment, family offices of prominent global investors, and portfolio companies valued at over US$1 billion from 500 Global’s first Southeast Asia early-stage fund also invested.

Originally targeted for US$75 million, 500 SEA III closed at US$100 million, with over half of the fund coming from returning LPs. The early-stage fund will invest in businesses and AI-enabled technologies that advance rural digitalisation, sustainable cities, human and machine productivity, healthcare, food security and financial inclusivity.

500 SEA III aims to invest between US$250,000 and US$500,000 in 100 pre-seed to Series A startups across Malaysia, the Philippines, Vietnam, Thailand, Singapore, and Indonesia.

Also Read: Ex-Ninja Van PH country head Martin Cu joins 500 Global as partner for SEA

500 Global’s past Southeast Asia investments include US$5-20 million cheques in Series C to D rounds of portfolio companies such as Carousell (2018), Carsome (2021), and most recently eFishery (2023). It has backed over 340 companies in the region. Its other major portfolio firms include Grab, Bukalapak, and FinAccel.

Recently, 500 Global appointed Saemin Ahn, Shahril Ibrahim and Martin Cu as Partners to lead the VC firm’s growth equity practice across the region, supporting and nurturing startups at every stage of their growth.

500 Global — a multi-stage venture capital firm with US$2.4 billion in assets under management — has backed over 5,000 founders representing more than 2,800 companies operating in 80+ countries. It has invested in 35+ companies valued at over US$1 billion and 160+ companies valued at over US$100 million (including private, public, and exited companies). Its 90+ team members are located in over 25 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.

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In the world of luxury fashion, Sarah Garner was no stranger. With over a decade of experience in the industry, she was well-acquainted with its inner workings. However, when she became a mother, her perspective on her role in fashion began to shift.

She yearned for a more purposeful path within the industry, one that offered solutions rather than merely chasing trends. Garner encountered a problem shared by many parents – what to do with the ever-evolving wardrobes of their growing children.

It was this dilemma that inspired her to create Retykle, a circular solution tailored for products inherently prone to obsolescence and designed for shorter lifespans with their initial owners.

“I started the platform from the point of view of the user and knew that our solution needed to solve this problem for parents in the simplest and most hassle-free way,” said Garner in an interview with e27.

Retykle’s mission: Sustainability and circular fashion

Since its inception in 2016, Hong Kong-based Retykle has flourished into one of the largest resale platforms for children’s fashion. It claims to have helped normalise and create appeal for secondhand in Asia. “We’re getting close to marking 500,000 items recirculated on our platform,” revealed Garner.

Retykle’s mission is rooted in sustainability and circular fashion. She said the company’s impact extends beyond quantifiable CO2e savings from secondhand purchases. The platform aims to transform how individuals interact with physical goods, fostering awareness about the lifecycle of products and simplifying the extraction of value.

Also Read: Why we need to stop calling them ‘mumpreneurs’

“Our technology will extend beyond kids’ products and transform the way we interact with our physical goods by unlocking consciousness around the lifecycle and creating value extraction with ease,” she said.

When the startup was launched in 2016, the concept of shopping and selling secondhand items online was novel in Asia. Early adopters were individuals culturally familiar with secondhand goods, recognising the benefits of savings, access to unique products, and environmental consciousness.

Retykle’s community grew to hundreds of thousands of users through organic referrals and earned trust. Changing consumer behaviours – a shift to online shopping, budget-conscious purchases, and eco-conscious choices – have further fuelled the adoption of buying and selling secondhand items.

Global attention, investment, and consumer interest in the fashion resale market have surged in recent years. By 2024, 10 per cent of the global apparel market is expected to consist of secondhand apparel, outpacing traditional retail sales.

In Asia, scepticism about the reliability of unverified secondhand listings persists. Retykle has garnered trust and advocacy by adopting a managed marketplace model. Each item undergoes physical inspection and verification and comes with a guarantee, solidifying the brand’s reputation for trustworthy listings.

“We’ve been steadfast in our dedication to building the best possible solution to the problem at hand and organically grew our community to hundreds of thousands of users mainly through organic referral and earned trust.”

How Retykle works: Seller to buyer

Retykle streamlines the process for both sellers and buyers. Sellers can schedule a free home pickup of their children’s clothing, following its ‘ABC’ standards – Age (newborn to 14 years old + maternity), Brand (listing over 3000 brands), and Condition (ranging from well-loved to new with tags).

After the pickup, Retykle handles everything from photographing and pricing to listing and selling items. Sellers receive notifications when their items sell and can choose to earn commissions in cash or store credit.

For buyers, the firm aims to offer a better shopping experience by enabling them to filter and search based on preferences, set up alerts for desired products, and get an average discount of 80 per cent off on over 3,000 brands. Purchases are stored in a Virtual Closet for future use.

To dispel cultural apprehension around secondhand items, Retykle has worked to shift perceptions. It emphasises that secondhand shopping offers not only a good-as-new experience but also compelling price points, community engagement, and environmental benefits. With a focus on educating and inspiring customers, Retykle utilises a carbon savings tool to spotlight individual actions and impacts.

Retykle maintains the quality and authenticity of pre-owned items through rigorous checks. “When authenticating items, we specifically look for indicators from elements such as stitching, buttons, zippers, brand and product care labels. We’ve reviewed hundreds of thousands of items and are expert detectors of any condition or authenticity concern and do not list those that don’t pass our standards,” she elaborated.

Future vision and growth plans

Retykle envisions a future where technology revolutionises circular consumption, bridging the gap between first-hand and second-hand markets. Its technology will extend beyond kids’ products, transforming how people interact with physical goods. Market expansion, marketing investments, and new technology launches are key components of Retykle’s growth strategy.

Also Read: Pine Venture backs children’s clothing resale platform Retykle

In June this year, Retykle closed a new round of pre-Series A funding, bringing its total funding to US$2.2 million. The latest round was led by Singapore’s early to-growth stage VC firm Pine Venture Partners, with participation from undisclosed angels.

“We are using the capital to bring our new technology to market, which will bridge firsthand and secondhand to create widespread adoption of resale. We are investing in marketing to build awareness for our platform, and we are preparing for further market expansion,” she revealed.

The startup has global ambitions and assesses potential markets based on various factors, including consumer behaviour, e-commerce penetration, purchasing power, and sustainability adoption.

Retykle remains customer-centric, staying attuned to evolving consumer needs and preferences. “We have always stayed at the centre of our customer experience through dialogue with our community and tapping into their evolving needs and preferences. We use those signals to be at the intersection of innovation and satisfying needs. We remain attuned to our customers evolving behaviours to time our next offerings to pair into their journey with ease and unlock further transition to a more circular future,” concluded Garner.

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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.

Image credit: Retykle

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Preparing today’s students for a future where AI is widely used in every industry is no easy feat. The learning process itself can be highly technical and even daunting; apart from that, the opportunity to learn may not be available for every student. Even the availability of AI solutions in the market—such as ChatGPT—does not always help students comprehend the intricacies of the technology.

These are the problems that Hong Kong-based AI Blocks aim to tackle.

“By using AI to teach AI, we’ve built the world’s most experiential online learning platform where students can not only learn the theoretical approaches of AI but also practice their practical skills through building their own AI, all without the need for high-level mathematics knowledge and programming skills,” explains SQ Mah, CEO of AI Blocks, in an email to e27.

The company targets K-12 students by partnering directly with schools that provide students access to the course content, AI tools and platform.

According to Mah, the AI Blocks learning platform is light and efficient enough to run on low-power devices. It also does not require specialised hardware as it is able to run on mobile phones, iPads, and Chromebooks.

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

The platform implements the four core tenets of learning that were developed by Harvard education theorist David A. Kolb: experience, reflect, conceptualise, and experiment.

In the context of learning about AI, this means students do it by using and building their own AI instead of just learning via worksheets. For example, to train computer vision, students are able to use a webcam to see the live results of their computer vision models. They are also able to collect the training data, change the AI architecture, and improve it themselves.

“More importantly, we challenge students to consider how they can contribute to solving societal problems by tying AI capabilities to coursework. For example, in humanities class, students learn about demographic shifts such as an ageing population, increasing the need for caretakers to an unsustainable level. Is there any way that AI can help? Students came up with solutions like a computer vision fall detection model for the elderly to help reduce the level of monitoring that is necessary,” Mah explains.

“The creativity in students from all backgrounds is what truly cements our belief that knowledge of AI cannot be just the purview of those in engineering or CS. It must be for all.”

A move to empower students

AI Blocks is run by a team consisting of four people. Apart from Mah, who brings his expertise from working at Google, Microsoft, and Hong Kong’s MTR, there is also Brendan Mah (product lead), Connor Au Yeung (curriculum lead), and Bravan Yuen (sales lead).

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

In 2024, the company plans to continue expanding and developing its platform. It wants to create content that covers large language models and reinforcement learning. It also aims to create AI tools and content that have even better ties to existing school subjects such as science and English.

“To achieve this, we’re focused on creating a hyper-modularised experience, allowing schools and educators to improve AI capabilities for students to learn and better suit their contexts and needs,” Mah says.

In its expansion to Southeast Asia, AI Blocks receives support from the accelerator programme for edutech startup EduSpaze, which introduced it to customers in countries such as Singapore, Indonesia, and Vietnam.

“There’s also ample opportunity for partnership within the companies in the current EduSpaze batch as well as alumni and mentors. In the first week alone, we’ve already connected with a mentor to set up a potential pilot at their education centre, as well as work with one of our batchmates to introduce AI Blocks to one of their existing customers,” Mah closes.

“We’re excited to continue leveraging the support that EduSpaze has given us and will give us moving into 2024.”

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Image Credit: AI Blocks, EduSpaze

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Josys, a Japanese device management startup helping companies reduce IT operation costs and enhance security systems, has raised US$93 million in Series B funding.

Global Brain and Globis Capital Partners led the round, bringing Josys’s total funding to US$125 million.

With this new round of funding, the SaaS startup plans to expand its product and engineering team and grow its operations in the US and the APAC region.

Established in 2021, Josys helps companies automate and optimise the management of their software applications and devices.

Also Read: 7 lessons from building a 7-figure SaaS business with just 1 engineer

Josys plans to scale its go-to-market strategy, focusing on building its managed service provider network for increased territory coverage and expedited service delivery. This expansion will allow it to provide IT outsourcing services for device lifecycle management, covering purchasing, configuration, shipping, repairing, and storing laptops and mobiles.

“In the wake of the pandemic, we are seeing increased complexities in IT operations across the globe as companies struggle to modernise their operations and catch up with the technological and human shifts that have transformed how and where work gets done. As businesses shifted to remote work and adopted numerous SaaS solutions, the challenge of maintaining the ‘single source of truth’ for IT operations became daunting,” said Josys CEO Yasukane Matsumoto.

In September 2022, the company raised US$32 million in its Series A round. Since then, it claims to have bagged over 300 enterprise clients and increased revenues by 10x.

The firm has over 100 employees across the US, India, Japan, Singapore, and Vietnam.

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Image Credit: Josys.

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In any endeavour, the pursuit of knowledge and innovation is paramount to success. To thrive in this dynamic environment, organisations need to constantly adapt, learn, and harness the power of disruptive technologies and innovation — learn when to pivot, understand market demands, and constantly adjust. With this understanding, the dedicated team from e27 is launching the Flux Series – a landmark initiative that promises to revolutionise the way top-level business leaders gain actionable insights and drive sustainable growth within their respective organisations.

Flux Series is more than just a series of conferences. It is a carefully curated, intimate, and focused convergence of top industry leaders dedicated to specific business areas, including marketing, operations, product development, and more. This unique initiative aims to facilitate active learning sessions that empower business leaders with in-depth knowledge and actionable insights, ultimately propelling their brands towards sustainable growth and profitability.

The story behind the Flux Series

Knowledge is not static; it is a dynamic and ever-flowing resource. What is relevant today may become obsolete tomorrow, and breakthroughs in one sector can catalyse transformation in another. Flux Series recognises the imperative of staying abreast of this constant flux of knowledge. It embraces change as an opportunity for growth and evolution. 

In essence, the Flux Series is a celebration of the perpetual movement of ideas, insights, and information that drives progress and innovation — the cornerstone from which the Southeast Asian tech startup ecosystem is built.

Also read: Flux Series: Where industry leaders discuss actionable insights and disruptive technologies

The name “Flux” itself encapsulates the essence of this initiative. It draws inspiration from the concepts of convergence, interconnectivity, and the ever-changing flow of knowledge.

Flux Series serves as a platform for knowledge-sharing among leaders in critical business domains, fostering the continuous exchange of information and expertise from one organisation to another. It embodies the spirit of bringing together leaders from diverse backgrounds, industries, and experiences to create a dynamic space where ideas converge, connections are celebrated, and the ceaseless flow of knowledge drives innovation and progress. 

Flux Series is designed to create impact for businesses

Flux Series is anchored on the principle that knowledge alone is not enough; it’s the application of knowledge that drives progress. The series of conferences are carefully crafted to transform actionable insights and disruptive technologies into sustainable growth strategies. Attendees can expect to leave Flux Series with a clear roadmap for implementing innovative solutions within their organisations, ultimately driving profitability and success.

1. Growth-Oriented Content Stages: The heart of the Flux Series lies in its content stages, which are meticulously designed and curated to provide insights and expert knowledge from some of the business ecosystem’s most renowned leaders. With our esteemed panel of experts, attendees stand to gain practical knowledge that can be applied within their organisations as well as an inside look at some of the unique challenges and experiences faced by different industry leaders.
2. Peer-to-Peer Roundtable Discussions: Flux Series offers a unique opportunity for business leaders to engage in focused discussions with their peers. These roundtable sessions facilitate the exchange of ideas, strategies, and best practices, allowing attendees to gain a deeper understanding of industry-specific challenges and solutions from people working in similar roles.
3. Active Learning Workshop Sessions: In addition to discussions and keynote presentations, Flux Series features on-the-spot active learning workshops. These interactive sessions encourage participants to roll up their sleeves and dive into hands-on activities, fostering a deeper understanding of emerging technologies and innovative practices and enabling them to test strategies and fresh ideas on the spot.
4. Open Networking: Flux Series understands the importance of networking in the business world. It provides an open and inclusive networking environment, allowing all participating stakeholders to connect, collaborate, and build meaningful relationships with other key industry leaders.

Also read: e27 and Techstars partner to drive Startup City Accelerator success

Moreover, one of the distinguishing aspects of the Flux Series is its laser focus on senior-level business leaders. The series is tailor-made for those who hold key positions within their organisations and have the authority to enact top-level change. Flux Series recognises that these leaders are the driving force behind their respective brands, and it aims to equip them with the knowledge and insights needed to make informed decisions that impact their organisations positively.

The Premiere Edition — Flux Series Marketing Leaders in Jakarta

For the premiere edition of Flux Series, we are excited to gather some of the most influential leaders in the field of marketing. This exclusive event will provide a platform for marketing visionaries to come together, discuss, ideate, and strategise steps to optimise their marketing efforts using AI-driven innovations and technology.

Also read: e27 and Techstars partner to drive Startup City Accelerator success

If you’re a marketing leader looking to reach new heights in your company’s marketing goals, Flux Series: Marketing Leaders is happening in Jakarta on November 15, 2023. Join us for a day of insightful discussions, interactive workshops, and unparalleled networking opportunities that will reshape the way you approach marketing in the digital age.

Join the Flux Series or become our partner and be a driving force in the AI-powered marketing revolution. To learn more about the event, you may visit the official Flux Series: Marketing Leaders page.

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

Since 2017, Suradej Panich has led the Data Scientist team at Sunday, a group company providing integrated data and technology platforms, including real-time customised non-life insurance, healthcare services, and a technology hub in Thailand.

Panich’s projects are central to Sunday’s core business, spanning the complete value chain. Additionally, he oversees vital partnerships with prominent companies across Southeast Asian industries.

In this edition, Panich shares how Sunday has embraced Artificial Intelligence.

Edited excerpts:

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

I think it’s no longer a question for company executives on the impact of Artificial Intelligence. Over the past ten years, many firms have moved from questioning to adopting or nurturing the technology to sit at the core differentiations of their products and services.

Here are some of the ways that AI is already being used in Sunday insurance and how it could impact the industry in the future:

• Automating tasks: AI can automate many tasks currently performed by humans in the insurance industry, such as data entry, claims processing, and customer service. This can free human employees to focus on more complex and value-added tasks, such as risk assessment and underwriting.
• Personalising products and services: AI can collect and analyse vast amounts of customer data, which can then be used to personalise insurance products and services. This can help insurers to better meet the needs of their customers and reduce churn.
• Improving risk assessment: AI can be used to develop more sophisticated models of risk, which can help insurers assess the likelihood of claims better and set premiums accordingly by perceiving the customer as a segment of one. This can help to reduce losses and improve profitability.
• Detecting fraud: AI can detect fraudulent claims using larger datasets with more complex patterns, which can help insurers reduce losses.
• Providing insights: AI can provide insurers with insights into their business, such as trends in claims, customer behaviour, and market conditions. This information can be used to make better pricing, products, and marketing decisions.

The AI revolution is still in its early stages in Southeast Asia but can potentially disrupt the industry significantly.

In what ways has your company embraced AI technologies to improve operational efficiency or enhance business processes?

At Sunday, we have been adopting AI technology since day one. Those lie in every touchpoint process of running an insurance company, including:

• Using AI for innovative new product design
• Automate underwriting for better risk control
•  Targeted marketing
• Near real-time document reading and claim assessment workflow
• Fraud detection in claims

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

An instance of AI integration in our company is evident in motor claim assessment. Traditionally, our human assessors review accident reports, analyse images of damaged vehicles, and engage in discussions with clients and repair shops to determine optimal solutions for repairing or replacing vehicle parts. However, discrepancies emerged due to variations in the skill and expertise of different assessors.

Also Read: AI must be used to enhance team members’ expertise, not to sideline them: Ravi Dodda of MoEngage

We’ve designed our AI model to perform the same task with enhanced consistency in decision-making. This AI model processes various data inputs, such as policy effectiveness, coverage details, accident reports, involved parties, garage assessments, and images of the damaged vehicle.

It utilises this data to validate key factors, including whether the car sustained damage, alignment of damage with the accident report, identification of affected parts, and assessment of severity. Subsequently, the AI model provides recommendations to both our human assessors and garages, offering insights into how to address the repair needs of our customers’ vehicles and associated costs.

Implementing this process for over two years has significantly contributed to our company’s decision-making standardisation, fostering improved relationships with garages and expediting the review and assessment of claims. As a direct outcome, claim approvals are accelerated, enabling customers to swiftly repair their vehicles and resume their journeys with minimal delay.

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

I think many organisations share some common challenges and concerns, such as:

• Data quality: The accuracy and completeness of data utilised for training AI systems fundamentally impact their performance. Given our status as a new startup, acquiring comprehensive data might be a challenge. Hence, we must explore alternative avenues, like government-initiated open data programs, partnerships, or innovative approaches such as one-shot or few-shot learning in lieu of conventional AI model development.
• Bias: AI systems can inadvertently exhibit bias, leading to unjust or prejudiced outcomes. To mitigate this, data scientists should engage with their peers and stakeholders to validate logic and address any concerns regarding training set design.
• Explainability: Explaining the rationale behind AI system decisions can be complex. Establishing trust and ensuring ethical deployment necessitates gaining buy-in, sometimes through step-by-step explanations of model reasoning or comprehensive back-test analyses to demonstrate functionality and performance.
• Security: AI systems can be vulnerable to security breaches, potentially resulting in data theft or system manipulation.
• Cost: The development and deployment of AI systems can be financially demanding. Occasionally, AI development serves as an experiment, where patterns may not emerge, or datasets might not generalise for future predictions. Regular project assessments and decisive actions are crucial to navigate such situations effectively.

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

Several strategies exist to establish transparency in deploying AI technologies within an organisation, effectively addressing privacy concerns. For instance:

• Develop a clear AI ethics policy: Craft a robust AI ethics policy that underscores the organisation’s commitment to transparency, accountability, and equity. Our policy addresses the following facets:

– The specific objectives of each AI/ML system
– Utilised data sources and types
– Methods of data collection and application
– Protocols for system development and testing
– Mechanisms for continuous monitoring and evaluation
– The role of the system in decision-making processes
– Strategies employed to counteract bias and discrimination

• Involve stakeholders: It is important to involve stakeholders in developing and using AI systems. This includes employees, customers, regulators, and the public. Stakeholders can provide valuable input on the system’s ethical implications and help ensure that it is used responsibly.
• Be transparent about the use of AI: Sunday wanted to be transparent about using AI systems as much as possible. This includes disclosing the purpose of the system, the data that will be used, and how the system will make decisions. The organisation should also provide clear information about how individuals can access and control their data.
• Mitigate privacy concerns: We aim to use anonymised or pseudonymised data whenever possible and ensure the system is protected from unauthorised access.

Also Read: AI is not about job displacement but job augmentation: Nick Eayrs of Databricks

How do you ensure that AI technologies complement your workforce’s existing skills and expertise rather than replacing or displacing human workers?

We initiate by thoroughly grasping our employees’ skills and expertise. Subsequently, we outline precise objectives for the role’s evolution over time, providing a well-defined path for upskilling or reskilling. This approach ensures that integrating AI technologies harmonises with existing skills rather than supplanting them. Below are potential strategies to formulate such a plan:

• Design AI technologies to be used in collaboration with humans: AI technologies should be designed to be used in collaboration with humans rather than as a replacement for humans. This means that AI technologies should augment human skills and capabilities rather than replace them.
• Provide training and development opportunities for employees: Employees should be provided with training and development opportunities to help them learn how to use AI technologies effectively. This will help ensure that employees can stay relevant in the workforce and contribute to the development and use of AI technologies.
• Create a culture of innovation and collaboration: A culture of innovation and collaboration will help ensure that AI technologies are used to benefit the entire workforce. This means creating an environment where employees feel comfortable sharing ideas and working together to solve problems. And in the end, we would leave one behind.
• Monitor the impact of AI technologies on the workforce: It is important to monitor the impact of AI technologies on the workforce continuously. This will help identify potential problems early on and take steps to mitigate them.

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

From my perspective, I envision the future collaboration between humans and AI as a partnership where humans and machines work together to achieve common goals.

AI will augment human capabilities by automating tasks, providing insights, and making predictions. Humans will provide AI with the context and understanding to make sound decisions.

For example, in the workplace, AI can automate tasks such as data entry, customer service, and scheduling. This can free human employees to focus on more creative and strategic work. As AI technology develops, we can expect to see even more ways in which humans and machines can work together to solve problems and create a better future.

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

In my view, AI is no longer an option, but all founders of future startups need to embrace AI, no matter what industry they are in.

Thinking it in a way as if AI is the initial substance in a chemical reaction in the next wave of industrial revolution. Companies can become irrelevant if they are missing this wave of revolution that has already started.

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Grouu, an Indonesian startup working on the nutritional needs of infants and toddlers, has secured an undisclosed amount in additional investments from Singapore-based VC firm Teja Ventures.

The funding will help the startup diversify its product offerings, enhance its proprietary digital subscription platform, and strengthen its omnichannel presence across various e-commerce platforms and offline retail networks.

“Our direct-to-consumer approach allows us to understand customers’ needs and expectations first-hand. To further enhance product accessibility, we are strengthening our omnichannel presence, which includes various e-commerce platforms and offline retail networks like supermarkets and baby shops,” said Jessica Marthin, Co-Founder and CEO of Grouu.

Founded in August 2020, Grouu focuses on meeting the nutritional needs of infants and toddlers from six months and above. The development process of its products and menu involves parents as consumers and a team of experts comprising nutritionists, food scientists, chefs, and paediatricians to ensure complete and balanced nutrition.

Also Read: What is circular economy and why F&B companies should care

According to the firm, its products and menu items are produced in facilities that meet hygiene standards set by the Department of Health and the National Agency of Drug and Food Control (BPOM) and are Halal certified.

Grouu’s website offers a meal subscription management feature for parents to schedule delivery dates and customise menu options and textures for complementary feeding.

It aims to target a broader market with various packaged food products specially designed to meet the nutritional needs of infants and toddlers, which will be marketed through its online direct-to-consumer and offline retail networks.

Teja Ventures is a VC firm backing the next-generation category leaders shaping the future of consumption in emerging Asia, focusing strongly on the future of food, retail, and health/wellness. It invests in seed to Series A companies.

Virginia Tan, Teja’s Founding Partner, stated, “We see immense potential in the mother and baby category in the Southeast Asia region, with the baby food market amounting to US$9.48 billion in 2023. The market is expected to grow annually by 5.38 per cent through 2028.”

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The picture used in this article is AI-generated.

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Singapore Computer Society (SCS), in partnership with the Infocomm Media Development Authority (IMDA), on Friday, September 1, announced the third edition of the Singapore 100 Women in Tech (SG100WIT) List.

The list is an initiative that aims to recognise and celebrate outstanding women who have contributed significantly to the tech community in their sphere of influence.

Starting in 2023, the committee broadens the definition of “women in tech” to include tech policy-makers and regulators as well as professionals from diverse sectors. It includes honourees from various sectors such as semiconductor, aeronautics, and biotechnology who hold a variety of roles such as researchers, business, community leaders, and content creators.

The award received a total of 800 nominations, which the committee claimed to be an increase of almost one-third from the 2021 edition, signalling the growing recognition and value that women bring to the tech sector.

In addition to the main list, the committee also introduced the Girls in Tech category, which received 31 nominations, doubling the number of nominations received in the last edition of SG100WIT.

Also Read: Women in tech have leaned in enough. This is what we should do instead

According to the committee, this demonstrates the growing interest in tech from young women, which is a step forward in building Singapore’s tech talent pool and bridging the talent gap.

“The SG100WIT list has evolved from inception to its current edition to be a key national initiative that amplifies the brilliant capabilities of women and students in technology. In its third edition, the initiative has grown significantly to include nominees of diverse profiles – including small business owners, teachers, and investors – in addition to business leaders, technologists, entrepreneurs, researchers and students,” said Tan Lee Chew, Chairperson of SG100WIT 2023 Organising Committee.

“This year’s list is a testament to the multifaceted role of technology and how impactful it can be in empowering women in different careers. Through this initiative, SCS hopes to inspire more women to embrace technology across different industries in their respective careers and help build a strong pipeline of women and women leaders in technology.”

The next edition of the SG100WIT List will take place biennially and is slated for 2025.

The complete list of the honouree is available here.

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Image Credit: Singapore 100 Women in Tech

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