Key highlights:

• President Trump’s 25 per cent tariff on steel and aluminium imports has heightened global risk sentiment, affecting commodity currencies and Asian equities
• The MSCI US index declined, but the Energy sector outperformed due to stable oil prices. US Treasury yields rose, reflecting inflationary concerns
• South Korea’s push for crypto ETFs signals growing mainstream adoption, while Japan’s Metaplanet Inc. saw a 4,000 per cent stock surge due to its Bitcoin strategy
• Metaplanet’s move to adopt Bitcoin as a treasury reserve asset mirrors MicroStrategy’s approach, but Japan’s high tax rates make stock proxies more attractive
• Trump’s pro-crypto stance could shift financial leadership to the UK, but strong regulatory frameworks will be crucial for long-term success

Global financial markets are navigating a complex landscape shaped by geopolitical tensions, domestic policy shifts, and the ever-evolving dynamics of technological innovation. President Donald Trump’s recent pledge to impose tariffs on all steel and aluminium imports has sent ripples through global markets, exacerbating already jittery sentiments about trade tensions.

This policy announcement, with broader economic indicators and the rise of cryptocurrency-related developments, presents a multifaceted scenario that demands careful analysis. As a journalist committed to rigorous research and factual reporting, I aim to unpack these developments, offering a comprehensive view of their implications while critically examining the narratives surrounding them.

President Trump’s announcement of a 25 per cent tariff on steel and aluminium imports has undoubtedly heightened global risk sentiment. This move, which Trump did not specify regarding its effective date, has added a layer of uncertainty to an already tense economic environment. Commodity currencies such as the Australian and Canadian dollars have felt the immediate impact, depreciating as markets react to the potential for escalated trade conflicts.

Similarly, Asian equities have experienced declines, reflecting broader concerns about the ripple effects of these tariffs on global supply chains and economic stability. The timing of this announcement, just before Federal Reserve Chair Jerome Powell’s semiannual congressional testimony, further amplifies its significance as investors and policymakers alike scrutinise the potential monetary policy responses to these trade developments.

In the United States, financial markets have responded with caution and resilience. The MSCI US index edged lower by 0.9 per cent, with the Energy sector outperforming despite broader market declines. This resilience in the Energy sector can be attributed to relatively stable oil prices, with Brent crude hovering around US$75 per barrel, even as markets weigh the implications of the new tariffs.

Meanwhile, US Treasury yields have risen, with the 10-year yield increasing by 6.1 basis points to 4.49 per cent and the two year yield climbing by 7.8 basis points to 4.29 per cent. These movements suggest a market expectation of tighter monetary policy or heightened inflationary pressures, possibly in response to the tariffs. The US Dollar Index has held firm, gaining 0.3 per cent, while gold prices continue their upward momentum, approaching US$2,900 per ounce, as investors seek safe-haven assets amid uncertainty.

Across the Pacific, Asian equities have displayed a mixed performance, with early trading reflecting the cautious sentiment pervasive in global markets. However, US equity index futures suggest a modestly optimistic opening, implying a 0.3 per cent higher start for US stocks. This divergence highlights the nuanced reactions across different markets, shaped by local economic conditions and the varying degrees of exposure to US trade policies.

In Singapore, for instance, DBS Group Holdings Ltd. shares reached a record high, buoyed by the announcement of an investor payout plan. This development underscores the resilience of certain financial institutions in Southeast Asia, even as broader market sentiments remain tentative.

Also Read: Markets on edge as jobs data, currency shifts, and crypto milestones shape the week

Amid these traditional financial market dynamics, the cryptocurrency space has emerged as a significant focal point, particularly in Asia. The Korea Exchange chairman’s push for the adoption of cryptocurrency exchange-traded funds (ETFs) reflects a growing recognition of digital assets as a potential driver of market growth.

South Korea, a nation known for its technological innovation and significant cryptocurrency adoption, stands at a critical juncture. Embracing crypto ETFs could position the country as a leader in this burgeoning financial sector, potentially attracting substantial foreign investment and fostering innovation. However, this move also carries risks, including regulatory challenges and the inherent volatility of digital assets, which could undermine financial stability if not managed carefully.

The meteoric rise of Metaplanet Inc., a Japanese company that has pivoted from hotel management to Bitcoin investment, exemplifies the transformative potential of cryptocurrencies. Shares of Metaplanet have soared by over 4,000 per cent in the past year, making it the top-performing stock among Japanese equities and one of the highest globally. This extraordinary performance is largely attributed to the ripple effects of President Trump’s pro-crypto agenda, which has fuelled a surge in Bitcoin demand in Japan.

Metaplanet’s strategic shift to adopting Bitcoin as a primary treasury reserve asset, inspired by the playbook of MicroStrategy’s Michael Saylor, has resonated with investors, particularly in a context where traditional financial assets are facing heightened uncertainty. The company’s ambitious plans to acquire 21,000 Bitcoin by 2026, supported by a US$745 million capital raise, further underscore its commitment to this strategy, positioning it as a potential leader in Asia’s cryptocurrency landscape.

However, this rapid ascent is not without its complexities. The volatility of Bitcoin, which recently hit a record high of US$109,241 before partially retracing, poses significant risks for companies like Metaplanet. Moreover, the high capital gains taxes on direct Bitcoin purchases in Japan—up to 55 per cent—make investing in stock proxies like Metaplanet an attractive alternative for small-scale and first-time buyers, particularly through programs like the Nippon Individual Savings Account. This tax structure, combined with the broader market dynamics influenced by Trump’s trade policies, creates a unique environment where investors navigate traditional and digital asset markets with heightened caution.

President Trump’s apparent obsession with cryptocurrencies, evidenced by his administration’s pro-crypto stance, has broader implications for global financial markets. Some analysts argue that Trump’s pledge to overhaul US financial regulations could present opportunities for the UK to lead in the crypto space in the United Kingdom. With its robust financial infrastructure and history of regulatory innovation, the UK is well-positioned to capitalise on any shifts in US policy that might create regulatory gaps or opportunities.

However, this optimism must be tempered by critically examining the challenges involved, including the need for robust regulatory frameworks to protect investors and ensure market stability. The UK’s ability to lead in this space will depend on its capacity to balance innovation with prudent oversight, a task made more complex by the global nature of cryptocurrency markets.

Also Read: The new norm: Stabilising global risk sentiment in a volatile market

From my perspective, the interplay between traditional financial markets and the cryptocurrency sector underscores a broader shift in the global economic landscape. President Trump’s tariffs on steel and aluminium, while aimed at protecting domestic industries, risk exacerbating global trade tensions and economic uncertainty.

This uncertainty, in turn, drives investors toward alternative assets like gold and Bitcoin, which are perceived as hedges against traditional market volatility. However, the rapid rise of companies like Metaplanet and the push for crypto ETFs in South Korea highlights the transformative potential of digital assets, even as they introduce new risks and regulatory challenges.

Critically examining the establishment narrative, it is essential to recognise that the enthusiasm for cryptocurrencies, particularly in the context of Trump’s policies, is not without its pitfalls. The volatility of digital assets, the potential for regulatory overreach, and the risk of market manipulation are significant concerns that must be addressed.

Moreover, the reliance on Bitcoin as a treasury reserve asset, as seen with Metaplanet, raises questions about long-term sustainability and the broader implications for corporate governance and financial stability. While the allure of high returns is undeniable, the risks associated with such strategies cannot be overlooked.

In conclusion, the current global financial landscape is a tapestry of interconnected developments, from traditional trade policies and market dynamics to the disruptive potential of cryptocurrencies. President Trump’s tariffs on steel and aluminium have heightened global risk sentiment, driving investors toward safe-haven assets and alternative investments like Bitcoin.

Meanwhile, the rise of Metaplanet in Japan and the push for crypto ETFs in South Korea reflect the growing influence of digital assets in shaping economic strategies. As these trends unfold, policymakers, investors, and journalists alike must approach them with a critical eye, balancing optimism with a rigorous assessment of the risks and opportunities they present.

The future of global finance will likely be defined by how effectively we navigate these complexities, ensuring that innovation is harnessed responsibly and sustainably.

—

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

Join us on Instagram, Facebook, X, and LinkedIn to stay connected.

Image courtesy of the author.

The post The Trump effect: Steel tariffs, Bitcoin surge, and the future of crypto in Japan and beyond appeared first on e27.

Malaysia’s startup ecosystem has witnessed substantial growth in recent years, establishing itself as a dynamic hub for innovation and entrepreneurship in Southeast Asia. As of 2024, the country is ranked 43rd globally and 3rd in Southeast Asia for startups, with over 17,400 startups operating across various sectors, including edutech, e-commerce, insurtech, AI, blockchain, fintech, robotics, foodtech, and agritech.

Kuala Lumpur, the nation’s capital, has been a focal point of this development, generating more than MYR 220 billion (US$47 billion) in ecosystem value from July 2021 to December 2023. This metric reflects the city’s economic impact through startup valuations and successful exits.

The Malaysian government has been instrumental in fostering this growth through strategic initiatives. In 2024, the Malaysia Venture Capital Roadmap (MVCR) was introduced to attract leading venture capitalists to the country. Programmes such as the VC Golden Pass, VC Launch Fund, and VC Academy aim to enhance funding avenues and nurture talent within the venture capital industry.

Additionally, the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030 outlines the nation’s ambition to rank among the top 20 global startup ecosystems by 2030. This plan focuses on creating a high-performing, inclusive, and sustainable environment for startups.

Regions like Penang have also emerged as significant contributors, attracting substantial foreign direct investment, particularly in the tech sector. In 2023, Penang secured US$12.8 billion in foreign direct investment, bolstering its position as a burgeoning startup hub.

Also Read: Malaysia remains steadfast in its entrepreneurial success

Collectively, these efforts underscore Malaysia’s commitment to nurturing a vibrant startup ecosystem, leveraging its strategic location, skilled workforce, and supportive government policies to drive innovation and economic growth.

In this feature, we have compiled a list of startups that have raised the largest funding rounds since January 2020:

Carsome

An app-based C2B marketplace for used cars. It collects vehicle-related data from individual sellers, sends its staff for inspection, holds auctions for dealers and delivers the cars to the buyers. Buyers can search for cars they want to buy & make an order via their platform.

Founding year: 2015
Total funding raised so far: US$808 million
Institutional investors: AmBank Group, 65 Equity Partners, SeaTown Holdings International, Qatar Investment Authority, Gobi Partners, Asia Partners, EvolutionX, PTT, MediaTek, Sunway Group, YTL, Taiwan Mobile, gokongwei.org, 500 Global, Catcha Group, Penjana Kapital, Emissary Capital, Burda Principal Investments, Ondine Capital, Daiwa PI Partners, Endeavor, Convergence Ventures, MUFG Innovation Partners, Innoven Capital, Lumia Capital, Vynn Capital, Indogen Capital, Spiral Ventures, 500 Durians, Idea River Run, Mavcap, Strategic Year, E&F Private Equity, Smile Group, Kolibra Capital, xto10x, JBV Capital, and AC Ventures.

BigPay

BigPay provides NFC-enabled prepaid cards for individuals in Malaysia. Users can top up their debit/credit cards. The app sends notifications about the transactions. Users can also send money to their friends in their contacts list. The app automatically categorises payments and allows the user to track expenses. The app is available for iOS and Android platforms.

Founding year: 2017
Total funding raised so far: US$100 million
Institutional investors: SK and RedBeat Ventures

SoCar

An app-based car rental platform, SoCar enables users to search, compare, and book car rentals after providing relevant details. Its features include a keyless/app-controlled lock system, complimentary parking passes and insurance, and online payments, among others. SoCar also offers door delivery and pick-up for rental services.

Founding year: 2017
Total funding raised so far: US$73 million
Institutional investors: EastBridge Partners, Sime Darby, Eugene, and KH Energy.

Aerodyne

It provides a SaaS and AI-based drone analytics platform. The data collected by drones is processed by AI-based proprietary software to offer actionable insights. Its nested drones return to automated stations for data download and autonomous recharging for subsequent missions.

Also Read: Being prudent in spending should be at the heart of every management conversation: Aerodyne CEO

Founding year: 2014
Total funding raised so far: US$86 million
Institutional investors: PETRONAS, Kumpulan Wang Persaraan, Realtech Fund, KOBASHI HOLDINGS, Autonomous Control Systems Laboratory, North Summit Capital, ARC Ventures, Gobi Partners, Indorama Group Investments, 500 Global, Maples Group, Leave a Nest Capital, Leave a Nest, VentureTECH, InterVest, Kejora Capital, Drone Fund, Mavcap, Intres Capital Partners, and Plug and Play APAC.

Common Ground

Common Ground is a provider of managed co-working spaces. The platform provides users with fixed desks, flexible desks, shared working spaces, private offices, virtual offices, and more. It offers amenities including email services, WiFi, cleaning services, meeting rooms, events spaces, printing services, refreshments, and more.

Founding year: 2017
Total funding raised so far: US$71.5 million
Institutional investors: Catcha Group, Emissary Capital, Rice Bowl, Central Pattana, and VERITAS.

LottieFiles

An AI-powered animation creation platform, Lottieflies provides animation and design tools with preview, plugin, editor, and web player. It offers libraries and plugins for Web, iOS, Android, Flutter, React Native, Xamarin, NativeScript, Windows, Vue, Angular, QT, Skia, and Framer X. Lottieflies also provides a no-code testing platform for animations across web, iOS, and Android platforms.

Founding year: 2017
Total funding raised so far: US$47 million
Institutional investors: Webflow, Figma, XYZ Venture Capital, GreatPoint Ventures, M12,
500 Global, Automattic, Adobe, Square Peg Ventures, and 500 Durians.

Soft Space

Soft Space payment processing solutions to businesses. It provides payment gateways, white-label wallets, and POS terminals for accepting online or offline payments. The firm also facilitates fraud prevention, QR code payments, and e-wallet systems.

Founding year: 2012
Total funding raised so far: US$36.5 million
Institutional investors: GMO Financial Gate, Southern Capital, Transcosmos, JCB,
RHL Ventures, KB Investment, Hibiscus Fund, JCB, Sumitomo Mitsui Card, and Idea River Run.

Beldex

A Provider of a blockchain network ecosystem. The company offers zero-knowledge proofs to enhance the privacy, security, and scalability of DApps. It integrates EVM to build permissionless, private smart contracts and Web 3.0 applications.

Founding year: 2017
Total funding raised so far: US$28 million
Institutional investors: Block Alpha and DWF Labs.

CapBay

A provider of AI-based P2P marketplace for supply chain financing solutions in Malaysia. CapBay provides users with a platform connecting individual investors, businesses, and institutional investors for invoice financing. Users can obtain customized financing options by providing unpaid invoices as collateral.

Founding year: 2016
Total funding raised so far: US$27.5 million
Institutional investors: Kenanga, KK Fund, and Plug and Play APAC

Nutrition Technologies

A provider of insect-based products for agriculture and livestock. Nutrition develops its product using black soldier fly larvae and recycles nutrients from agricultural and food processing by-products. Its product offerings include insect-based organic fertilizers for agriculture, protein feed for livestock, and also oil.

Founding year: 2016
Total funding raised so far: US$34 million
Institutional investors: Bunge, PTT, Openspace Ventures, Hera Capital, Sumitomo, ING Bank, Mandala Capital, SEEDS Capital, Enterprise Singapore, Nullabor, Neptune, Alpha Founders Capital, and Primex Capital.

PolicyStreet

PolicyStreet is an insurtech platform that provides digital insurance solutions. It offers embedded insurance solutions, customized employee benefits, and financial advisory. PolicyStreet underwrites and develops insurance solutions.

Also Read: Sustained profitability is crucial for long-term success: PolicyStreet CEO

Founding year: 2016
Total funding raised so far: US$23.7 million
Institutional investors: Khazanah Nasional Berhad, Altara Ventures, Gobi Partners,
Spiral Ventures, KK Fund, Auspac, Cradle, pitchIN, Growth Charger, Taklamakan Holdings, and Vital Breeze.

StoreHub

Storehub is an iPad—and cloud-based POS system that helps users track customer data, give customers discounts based on buying patterns, generate reports, and more. It also helps store owners keep track of their inventory and generate reports to help with tax filings.

Founding year: 2013
Total funding raised so far: US$28.5 million
Institutional investors: 500 Global, Vertex Holdings, OSK Ventures International, Vertex Ventures, Accord Ventures, CSV, Fintonia Group, Temasek, 500 Durians, Cradle, and Majuven.

Pop Meals

Pop Meals is an internet-first restaurant offering on-demand food. Its food offerings include chicken pasta, fish curry, desserts, drinks and beverages, and more.

Founding year: 2015
Total funding raised so far: US$27.2 million
Institutional investors: Rakuten Capital, White Star Capital, JAFCO Asia, Partech Partners, Y Combinator, Atami Capital, UpHonest Capital, Texas Atlantic Capital, Apax, Econa, East Ventures, Asia Venture Group, Grupara Ventures, Ventech China, Golden Equator Capital, RISE, Barrco, Pine Hill Capital, InnoStart Capital, Korea Investment Holdings, DO Venture Partners, ennea capital partners, and Delivery Hero Ventures.

SleekFlow

SleekFlow is an omnichannel conversational AI suite for customer engagement in Malaysia. The platform allows users to create personalised customer journeys across messaging channels, including WhatsApp, Instagram, live chat, and more. It also helps manage communication workflows and customer conversations.

Founding year: 2019
Total funding raised so far: US$15 million
Institutional investors: Atinum Investment, Gobi Partners, AEF Greater Bay Area Fund,
Transcend Capital Partners, Goldman Sachs, Tiger Global Management, Transcend, Alibaba Entrepreneurs Fund, and Alibaba.

HealthMetrics

HealthMetrics is an employee healthcare benefits management platform that features process automation, dashboards, data analytics, personalised wellness programmes, employee mobile apps, and much more. It also provides early warning signs of health risks faced by employees.

Founding year: 2015
Total funding raised so far: US$14.8 million
Institutional investors: Gobi Partners, TIM, ACA Investments, RHL Ventures, CSV, Asean Innovation Capital, Spiral Ventures, Cradle, and Chrome Square.

Naluri

Naluri provides employee wellness programmes for physical and mental health. The company offers an evidence-based digital health solution that helps organisations predict, prevent, and manage the leading cardiometabolic and mental health conditions, including heart disease, diabetes, cancer, chronic stress, anxiety, depression, and pain. It also, offers consultation, performance coaching and training services.

Founding year: 2017
Total funding raised so far: US$14.86 million
Institutional investors: Pruksa, Bertelsmann, Striders, MVP, Palm Drive Capital, INP Capital, Integra Partners, Duopharma Biotech Berhad, Sumitomo, BioMark, KB Investment, RHL Ventures, Global Founders Capital, StartX, TH Capital, BioMark, 500 Durians, MedTech Innovator, Rhombuz, and Blue7.

LiveIn

LiveIn provides managed co-living spaces. The company offers furnished co-living spaces for young professionals & students with amenities such as WiFi, living rooms, cleaning services, refreshments, and more. LiveIn earns revenue through monthly plans.

Founding year: 2013
Total funding raised so far: US$13 million
Institutional investors: Korea Investment Holdings, Wavemaker Partners, Intervest, Malaysia Debt Ventures, Jungle Ventures, CAC Capital, Aucfan, KK Fund, Incubate Fund, Accord Ventures, Hoop Partners, Startia, and Cradle.

Food Market Hub

Food Market Hub is a cloud-based inventory management solutions provider for restaurants in Malaysia. It provides features for managing inventory, purchases, procurement, suppliers, food costs, food wastage, and more. It also generates real-time reports and sends automatic notifications via SMS and mail to suppliers and stakeholders. The application can be integrated with POS and accounting systems such as SQL Accounting, Quickbook, and Autocount.

Founding year: 2017
Total funding raised so far: US$12.5 million
Institutional investors: AC Ventures, East Ventures, 500 Global, Velocity Ventures, Capital Code, SIG Venture Capital, Go Ventures, ScaleUp Endeavor, MaGIC, K3 Ventures, Velocity Partners, 500 Durians, GLOBAL ACCELERATION ACADEMY, TINY LABS, Gv Hermes, My Rush, and Peng Min Investment Company.

Bateriku

An app-based platform for vehicle roadside assistance services. It provides services related to battery replacement and maintenance. It provides roadside assistance for breakdowns as well. it also offers a marketplace platform for car accessories. Its mobile application is available for Android and iOS platforms

Founding year: 2011
Total funding raised so far: US$9.5 million
Institutional investors: Kumpulan Wang Persaraan, Gobi Partners, VentureTECH, SBI Ventures Malaysia, and MTDC

iPrice

iPrice is an online price comparison platform for multi-category products. The product catalogue includes home improvements, baby products, fashion accessories, etc. Users can select their products and compare prices after which they are redirected to the respective site for buying. The company also claims to offer a platform for finding deals.

Also Read: How iPrice Group navigates the seven SEAs

Founding year: 2014
Total funding raised so far: US$26.6 million
Institutional investors: ITOCHU, KDDI Open Innovation Fund, Woowa Bros, JG Digital Equity Ventures, Daiwa PI Partners, AGCM, Mirae Asset Capital Markets, ACA Investments, Z Venture Capital, Naver, Cento Ventures, Venturra Capital, DMP 206, Asia Venture Group, Starstrike Ventures, Econa, Gobi Partners, Well Finance, F2 Capital, Spiral Ventures, 500 Durians, Pt Visual Investasi Teknologi and Alan, Koru Partners, Line Ventures, and Nova Investment.

Revenue Monster

Revenue Monster provides SaaS-based payment solutions for businesses. It features integration solutions for mobile-based payments, social media, and loyalty programs. The firm offers multiple products such as MyKad Recognition for AI-based KYC solutions, Face Recognition for customer identification & authentication, and Dynamic QR Code for offline tech solutions.

Founding year: 2017
Total funding raised so far: US$6.5 million
Institutional investor: The SEA Capital

pitchIN

PitchIn is a reward-based crowdfunding platform for creative projects in Malaysia. The projects that the platform focuses on include art & design, film & video, music, community, games, publishing and photography. It is a reward-based platform wherein the supporters are given a non-financial reward.

Founding year: 2015
Total funding raised so far: US$5.7 million
Institutional investors: MTDC, SuperSeed, Gobi Superseed II Fund, 1337 Nominee, and Vilor.

Biogenes Technologies

Biogenes develops technology in molecular diagnostics and genomics. It uses a bio-computational technique to design and optimize the binding between aptamers and target molecules in a 3D virtual environment, along with a range from DNA kits and buffers to diagnostic kits and nano-coated sensor strips. Biogenes also develops printed nano-coated sensors, immobilization of DNA probes and aptamers (synthetic antibodies), in-silico design, and validation of new aptamers, among others. Its products are electronic portable readers, aptamers, and printed sensors.

Founding year: 2015
Total funding raised so far: US$5.7 million
Institutional investors: Pembangunan Ekuiti, PlaTCOM Ventures, Cradle, MTDC, MOSTI, Bioeconomy Corporation, and Antler.

iStore iSend

iStore ISend provides fulfilment services and last-mile delivery services for e-commerce companies. It picks up products from the merchants, stores in the warehouses, packs the products as they receive the order, and ships products. The firm also provides last-mile delivery services handling COD payments.

Founding year: 2019
Total funding raised so far: US$5.5 million
Institutional investors: Yamato Transport, EasyParcel, Gobi Partners, Mavcap, and Global Brain.

MoneyMatch

MoneyMatch is a cross-border money transfer platform. It allows users to make cross-border money transfers via bank transfers. Users can place their order online or over a phone call. The minimum amount per transaction is RM500.00.

Founding year: 2015
Total funding raised so far: US$5.3 million
Institutional investors: Malaysia Debt Ventures, KAF Investment Bank, CSV, Cerana Capital, WatchTower & Friends, Tuas Capital Partner, and TH Capital.

ThoughtFull

ThoughtFull is a SaaS-based digital mental health solution for employees, individuals, and insurers in Malaysia. The company has developed a digital platform that allows organisations to assist employees with mental health management. The company provides mental health programs, therapy sessions, intervention programs, and educational content for users. The app-based platform can be used by insurers to provide health interventions.

Founding year: 2018
Total funding raised so far: US$4 million
Institutional investors: Sheares Healthcare, Vulpes Investment Management, The Hive Southeast Asia, Grab, ZALORA, Flybridge Capital Partners, Vulpes Ventures, Growing Well Partners, Citrine Capital, and Epic Angels.

The post Malaysia’s unicorn hunters: The startups raising millions and scaling fast appeared first on e27.

In an era when sustainability is becoming a core concern for businesses, Singapore-based materials innovation startup Xinterra has unveiled its groundbreaking carbon dioxide (CO₂)—capturing textile treatment, COzTERRA.

The innovative material, which enables fabrics to remove and sequester CO₂ from the air, is making its commercial debut through a partnership with sustainable fashion brand Kemunna.

Founded in 2021, Xinterra is on a mission to accelerate materials research and development using its proprietary AI-driven and high-throughput experimentation-powered platform, XDF (Xinterra Design Factory). The company focuses on developing novel materials at an unprecedented pace, addressing pressing global challenges such as climate change.

“We wanted to use the power of our XDF platform to solve some of the most pressing issues humanity faces, such as climate change,” says Patrick Teyssonneyre, CEO and Co-Founder of Xinterra. “Instead of focusing on industrial applications like direct air capture, we wanted to activate dormant surfaces of products that are part of our daily lives to capture CO₂, empowering individuals to become CO₂ capture agents.”

The science behind COzTERRA

COzTERRA’s technology enables textiles to absorb and sequester CO₂ through a specially developed liquid treatment applied during the fabric processing stage. Once absorbed, the CO₂ undergoes a chemical reaction with regular laundry detergents, transforming into sodium bicarbonate (baking soda), a stable and harmless mineral that is washed away.

This process not only removes CO₂ from the air but also allows the fabric to be recharged for continuous CO₂ capture.

According to Xinterra, each COzTERRA-treated T-shirt can remove between 16 and 41 grams of CO₂ over its lifespan. Collectively, 20 such T-shirts worn at the same time could capture as much CO₂ as a mature tree in a day, highlighting the innovation’s significant environmental potential.

Also Read: Malaysia’s unicorn hunters: The startups raising millions and scaling fast

A fashionable approach

Xinterra has chosen the fashion industry as the launchpad for its CO₂-capturing material. Collaborating with Kemunna, a Singapore-based sustainable fashion brand founded by Brazilian entrepreneurs, the company is bringing the technology to market through a limited-edition collection of COzTERRA-treated t-shirts.

“At Kemunna, innovation and sustainability are the foundation of everything we do. For our launch, we wanted a product that seamlessly embodies these values,” says Ricardo Costa, Co-founder of Kemunna. “Partnering with Xinterra and their groundbreaking CO₂-capturing technology was a natural fit.”

The COzTERRA-powered t-shirts were unveiled at the Singapore Fashion Council’s 2024 “Be the Change” Summit and are available exclusively online at Kemunna.com. The initial collection is limited to 200 shirts, giving early adopters a chance to engage in climate-conscious fashion.

Bringing COzTERRA to commercial reality required rigorous research and testing. Xinterra developed a high-output environmental chamber to evaluate CO₂ absorption performance across various materials. Using AI-powered analytics, the startup identified optimal raw material combinations, enabling rapid development cycles that outpaced traditional R&D processes by three to four years.

“We built high-output environmental chambers in-house to measure the CO₂ absorption performance of several commercial raw materials. These data points trained our AI, which then recommended new combinations for our lab. We ran multiple cycles of AI-driven experimentation until we achieved the best balance of technical performance and cost competitiveness,” explains Teyssonneyre.

Beyond research, Xinterra has taken an active approach in marketing COzTERRA to textile mills and brands, demonstrating how the technology can enhance their sustainability credentials and increase customer engagement.

Also Read: SAFE STEPS D-Tech Awards 2025: Applications now open!

“We have been approaching both textile mills and brands to explain how they can empower consumers to fight climate change, potentially increasing market share and customer loyalty,” adds Teyssonneyre.

While COzTERRA’s first application is in fashion, Xinterra envisions expanding the technology beyond textiles. The startup aims to adapt the material for other commonly used surfaces, transforming everyday objects into carbon capture tools.

“The vision for COzTERRA is to convert dormant surfaces into CO₂ capture surfaces,” says Teyssonneyre. “Next in our pipeline are residential paints and filters for air conditioners and vacuum cleaners.”

This broader vision aligns with Xinterra’s long-term goal of making carbon removal an integrated part of daily life, moving beyond industrial carbon capture to consumer-driven climate solutions.

Strategy for impact

As a newly launched sustainable fashion brand, Kemunna is leveraging a direct-to-consumer (D2C) model to promote its CO₂-capturing apparel. The company is focusing on digital marketing, strategic partnerships, and sustainability events to reach climate-conscious consumers.

“Kemunna is launching as a D2C brand, and our strategy focuses on engaging climate-curious and climate-conscious customers through digital channels like social media, content marketing, and online campaigns,” explains Costa. “We’re also exploring B2B collaborations with organisations interested in sustainable corporate gifts and apparel.”

Also Read: Why 2025 is the best time for AI skills and governance training in data governance

Beyond the initial launch, Kemunna has ambitious plans to expand across Southeast Asia, positioning itself as a leader in sustainable fashion. The company aims to establish partnerships with corporations and sustainability-focused events while also exploring additional high-impact technologies to integrate into future collections.

“Through this partnership with Xinterra, we aim to introduce COzTERRA’s innovative technology to the consumer market, raise awareness about sustainable fashion solutions, and drive adoption of this impactful innovation,” Costa notes. “Ultimately, we aspire to establish Kemunna as a trusted partner for bringing groundbreaking consumer technologies to market.”

—

Image Credit: Kemunna, Xinterra

The post Sustainably fashionable: Xinterra, Kemunna introduce a T-shirt that can capture CO₂ from air appeared first on e27.

Indonesia’s Financial Services Authority (OJK) has placed former Investree Radhika Jaya CEO Adrian Asharyanto Gunadi on its wanted list following allegations of financial misconduct.

Gunadi, who co-founded the peer-to-peer lending platform, is suspected of illegally raising funds without the necessary permits, leading to significant losses for users.

Authorities believe he has fled abroad to evade legal action.

The OJK’s move follows the revocation of Investree’s business licence on 21 October 2024 due to the company’s failure to meet regulatory requirements. The fintech firm struggled with declining performance and could not secure credible investors to stabilise its operations. Despite warnings from regulators to inject fresh capital and improve governance, Investree failed to comply, leading to liquidation proceedings.

Also Read: Qatar firm JTA leads Indonesian MSME lender Investree’s US$231M Series D round

OJK Executive Supervisor Agusman confirmed that Gunadi’s alleged financial irregularities are under investigation. Reports suggest that he diverted company funds into his personal account and used Investree as a guarantor for a separate business venture.

As part of its enforcement measures, the OJK is blocking Gunadi’s bank accounts, tracing his assets, and pursuing legal action to ensure accountability.

In addition to Gunadi’s case, the OJK has been tightening regulations across the fintech lending sector.

With Investree’s liquidation underway, borrowers are still required to fulfil their repayment obligations to lenders. A liquidation team, appointed by Investree’s shareholders and approved by the OJK, will oversee the repayment process and asset distribution.

Founded in 2015 in Jakarta, Investree provides digital financial solutions to largely underbanked MSMEs who previously faced difficulties securing loans without collateral from traditional financial institutions. It provides four products: invoice financing, working capital term loan, buyer financing, and microproductive loan for ultra-micro entrepreneurs.

In October 2023, Investree secured EUR 220 million (US$231 million back then) in a Series D funding round led by JTA International Holding by establishing a joint venture (JV) with the Qatar-based firm. The company’s Series B and C investor, SBI Holding, also participated in the round.

The post Indonesian regulator hunts ex-Investree CEO over alleged fund misuse appeared first on e27.

The global artificial intelligence (AI) market, valued at US$638.23 billion in 2024, is projected to grow to an impressive US$3.68 trillion by 2034, with a compound annual growth rate (CAGR) of 19.1 per cent over the next decade.

Businesses and individual creators are exploring new frontiers in Generative AI (GenAI), which are tools that can produce original digital art, music, and other creative works in various industries. Advanced models handle massive amounts of data, leading to faster iterations. According to a survey by PwC of at least 1,000 business and technology executives, 40 per cent of respondents have achieved increased productivity with the use of GenAI in their organisations, while 41 per cent have also seen improvements in customer experience.

AI agents, particularly in the art and music industry, have significantly transformed digital creativity. These sophisticated tools can generate unique visual artworks by analysing vast datasets of existing art, thereby enabling artists to explore new creative avenues and push the boundaries of traditional art forms. The AI art market was valued at approximately US$3.2 billion in 2024 and is projected to reach around US$40.4 billion by 2033, indicating a CAGR of 28.9 per cent.

How automation tools reshape artistic workflows

GenAI’s capacity to create original output comes from deep learning algorithms trained on vast and varied datasets. These models can generate new content, such as images, songs, or written narratives that take inspiration from existing aesthetics—accelerating proof-of-concept work for artists and composers in the form of non-fungible tokens (NFTs). NFT royalties allow creators to earn a percentage of the sale price each time their digital collectibles are resold on the secondary market, providing a continuous revenue stream.

A Massachusetts Institute of Technology study considers the technology’s role in music as being able to augment human capabilities and the “discovery of new musical ideas.” According to the study, “Generative AI technology now stands to carry this legacy forward—but truly nurturing musical creativity relies on developing transformative new systems guided by this synergistic interaction.”

AI agents on streamlining music production and digital art

AI agents are redefining the music production process by helping users craft tracks efficiently, tailoring elements such as tempo, genre, and emotional tone. Platforms like Soundraw illustrate how AI can democratise music creation, enabling professionals and newcomers alike to produce high-quality audio without mastering complex software.

Also Read: The future of blockchain technology goes beyond just cryptocurrency and NFTs

AI-generated songs, like the controversial 2023 track “BBL Drizzy,” demonstrate how minimal human input can lead to compelling results.

AI agents have become instrumental in the creation of art, utilising advanced algorithms to generate images based on textual descriptions. The impact of AI-generated art is evident in the achievements of AI artists like Botto, an AI program that has created over 150 artworks, amassing more than US$5 million in auctions since its inception in 2021.

Moreover, AI agents are not limited to digital creations; they have also ventured into physical art forms. Ai-Da, the first ultra-realistic humanoid robot artist, produced a portrait of mathematician Alan Turing, which sold for US$1.08 million at Sotheby’s in New York.

A constant challenge in AI-generated content

Automation tools help break down complex creative projects—such as drawing and modifying multiple concept art sketches—into more manageable tasks.

However, a recurring concern is intellectual property, particularly around how training datasets may include copyrighted images or works. Questions persist on whether AI outputs infringe upon existing intellectual property or fall within fair use.

In June 2024, major record labels, including Sony Music Entertainment, UMG Recordings, and Warner Records, filed lawsuits against AI developers Suno and Udio. The allegations centred on the unauthorised use of copyrighted music to train AI models, resulting in outputs that closely mimic the styles of well-known artists like Michael Jackson, ABBA, and Bruce Springsteen.

Challenges remain, with copyright policies and algorithmic biases requiring that final outputs meet professional and creative standards.

Monetising creative works

Royal.io provides musicians with a means to distribute rights to their artistic works. The platform takes advantage of blockchain technology to establish transparent royalty splits and facilitate fan engagement. The platform is backed by musicians such as The Chainsmokers, while other artists have also offered streaming royalty rights to their songs, such as the rapper Nas.

Also Read: How your business can benefit from the NFT phenomenon

Runway ML is a leading platform for integrating AI into creative workflows, offering tools for video editing, object detection, and generative content creation. With over 50,000 AI models developed and 24 million assets uploaded by its community, Runway ML is recognised as one of TIME Magazine’s 100 Most Influential Companies.

AIMAGINE provides a custom data layer that aggregates information for AI agents, which are software that interacts with data and environmental inputs to achieve certain goals. AIMAGINE’s AI Agent Launchpad simplifies deployment and provides a framework for gaining liquidity from its use of data.

The venture-backed platform also hosts an IP marketplace where developers can license AI agents for various tasks, building a circular economy for licensing revenue across different creative fields augmented by AI. AIMAGINE partners with Arbitrum, a leading Ethereum layer-2 scaling solution known for its efficient and cost-effective transaction processing, to enhance its AI-driven automation capabilities through scalable, decentralised infrastructure.

The future of AI-driven creativity

There is no question that GenAI stands as a powerful catalyst in creative fields, streamlining content production and opening new avenues for monetisation.

Through automation, creators can eliminate tedious workloads, boost quality, and deliver compelling digital works at a faster time to delivery.

—

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

Join us on Instagram, Facebook, X, and LinkedIn to stay connected.

Image credit: Freepik

The post AI agents redefine art: Unlocking boundless creative possibilities in a new digital era appeared first on e27.

Picture this: You’re drowning in deadlines, drowning in caffeine, and drowning in existential dread. Now, add a sprinkle of self-love. Suddenly, you’re not just drowning; you’re doing the backstroke in the pool of life (eye flutter). Embracing the chaos with a twisted smile is what self-love is all about.

Remember, folks, if you can’t love yourself, who can? Well, maybe your cat, but let’s not count on that. So, take a break, indulge in some dark chocolate (preferably 90 per cent cocoa and 10 per cent regret), and remember that even Batman takes a day off from Gotham.

Let’s talk about solo founder self-love

Being a solo founder is like being the star of a one-person show. You’re the writer, director, and lead actor, all rolled into one fabulous entrepreneur. This Valentine’s Day, take a moment to appreciate the sheer brilliance it takes to manage it all. Remember that time you stayed up until three AM tweaking your pitch deck? Self-love! Or that day, you celebrated closing a deal with a victory dance in your living room? Self-love squared! Embrace your accomplishments like a cosy blanket — warm and comforting.

The co-founder love with boundaries

Now, let’s talk about that special someone who knows your business inside out — your co-founder. It’s essential to maintain a healthy co-founder relationship, much like a well-balanced diet (but with more caffeine). Set boundaries because no one wants to be the co-founder who accidentally sends work messages at two AM when they’re sleep-deprived. That’s not love. That’s just exhausting.

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

Building strong relationships through professional love

Because networking is not just for LinkedIn!

Valentine’s Day isn’t just about romantic love; it’s about spreading love in the professional realm, too. Cherish your team members and clients, but don’t forget to express your love through actions, not just words. Maybe surprise your team with a spontaneous “no-meetings” day or send your clients a personalised meme — because who doesn’t love a good laugh, right?

Humour is a universal language, so why not make it your lingua franca?

Imagine the power of resolving workplace conflicts with a well-timed sarcastic remark. It’s like a Jedi mind trick but with more eye rolls and less lightsabers. And in your personal life, remember that laughter is the best medicine — unless you’re always alone laughing at your own jokes, in which case, please ask your HR to book an appointment with Safe Space to help you with conflict management.

When things get rocky, hug your business plan

Every founder faces challenges, and it’s crucial to navigate them with a sense of humour. When things get tough, hug your business plan tighter than your favourite teddy bear. Remember, setbacks are just plot twists in the epic saga of entrepreneurship. Laugh in the face of adversity, and your business will thank you for it.

Also Read: A look into (brand) love in the time of Web3

In conclusion, this Valentine’s Day, shower yourself with the love you deserve and maybe throw a little affection towards your co-founder and business. After all, a founder who can embrace self-love and share the love professionally is a force to be reckoned with. Happy Valentine’s Day, fellow founders! May your love for yourself and your business be as boundless as your ambition.

Don’t just hear it from me

Sharing a success story of a well-being warrior.

Now, let’s shine a light on a well-being warrior who has mastered the art of success without losing her sanity in the process. From the heart of chaos, she has made self-love a priority:

“Dare to dream, dare to inspire, and unlock the potential to shape your destiny and share your passion with the world, one day at a time.

I always remember ‘balance’ to keep my sanity while running this business:

B: Breathe while delegating effectively

A: Align by setting clear work-life boundaries

L: Love self-care, prioritise family times

A: Ask for support when needed

N: Notice and celebrate small victories

C: Coordinate time wisely

E: Embrace continuous learning”

In conclusion, dear comrades, love yourself and others, but do it with a dash of humour. Life is a series of punchlines waiting to be delivered, so why not embrace the chaos with a smile?

Remember, success is not just about the destination; it’s about enjoying the hilariously bumpy ride. Stay quirky, and most importantly, stay weirdly lovable!

—

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

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

Image credit: Canva

This article was first published on February 19, 2024

The post Love yourself and others: A playful guide to self-care in business appeared first on e27.

Artificial Intelligence (AI) continues to redefine the socioeconomic landscape across the globe, bringing transformative changes to industries, public services, and daily life. 

As the technology matures, its influence permeates sectors ranging from healthcare and education to agriculture and urban planning. 

Notably, future developments highlight that the world is not only rapidly adapting to AI’s potential but also leveraging it to address long-standing challenges, drive innovation, and enhance global competitiveness. In 2024, the Asia-Pacific region experienced a significant surge in AI adoption, with over 70 per cent of employees utilising generative AI (GenAI) tools for work purposes and 16 per cent engaging with these tools daily.

The integration of AI is reshaping how societies operate, creating opportunities for growth while sparking conversations about ethics, governance, and inclusivity.

AI agents revolutionising efficiency and automation

Among these, AI agents are at the forefront of streamlining operations across critical sectors, driving transformative change in agriculture, finance, and customer service. By automating complex processes and delivering precise, actionable insights, AI is unlocking unprecedented efficiency and growth opportunities worldwide.

AI agents are significantly impacting industries like customer service, finance, and technology. In India, AI-powered chatbots and virtual assistants are enhancing customer interactions across various sectors. For instance, during the 2024 Indian general elections, AI was utilised to translate political speeches in real-time, enabling broader voter engagement.

In Southeast Asia, AI is driving growth in the digital economy. The e-Conomy SEA 2024 report highlights that Southeast Asia is ideally positioned as a fertile ground for AI development and adoption, with strategic investments in areas like GenAI adoption, talent development, and AI infrastructure. In just two years, profitability has surged 2.5 times, rising to US$11 billion in 2024.

Also Read: Beyond disposal: How businesses can embrace sustainable IT practices in Malaysia

In Singapore, 80 per cent of financial institutions use AI-powered fraud detection systems, significantly reducing cybercrime risks. Additionally, government initiatives like the National AI Strategy 2.0 aim to up-skill 15,000 individuals by 2026.

Staying competitive in the corporate landscape

Large corporations are increasingly embedding artificial intelligence (AI) across their workflows to drive efficiency, innovation, and competitive advantage. For instance in Malaysia, Petronas has revolutionised its oil refinery operations with AI-driven predictive maintenance systems. 

Meanwhile, Amazon is preparing to relaunch its Alexa voice assistant as an AI “agent,” capable of performing complex, practical tasks. However, the company is solving technical challenges, including reducing AI hallucinations, improving latency, and ensuring reliability.

Likewise, AWS is deepening its collaboration with Anthropic, which includes deploying its Claude AI models on AWS Bedrock and using AWS Trainium chips for training advanced AI systems.

Also Read: Exploring the boundaries of AI: What AI can or cannot do?

AI’s impact across everyday services

AI’s influence extends to tools directly enhancing individual experiences. In 2024, Deciphex, a Dublin-based medical technology company, introduced AI-driven platforms like Diagnexia and Patholytix to assist in diagnostics and address the global shortage of pathologists. These tools help pathologists diagnose diseases faster and more accurately, significantly increasing productivity by up to 40 per cent.

Grab, Southeast Asia’s ride-hailing giant, uses AI to optimise routes and reduce passenger wait times. Through its partnership with AWS, Grab has launched nearly 1,000 AI models across various use cases, including route optimisation and pricing. The company also employs AI for dynamic delivery batching, enabling drivers to handle multiple deliveries on the same route, cutting costs and improving efficiency, while boosting earnings for drivers.

What’s next for the AI-powered workforce?

Key AI trends are also defining the trajectory of the region’s technological ecosystem. Notably, in Southeast Asia, 84 per cent of GenAI projects progressed from ideation to production within six months, with 74 per cent achieving a return on investment within a year. 

Meanwhile, Malaysia, Thailand and Singapore have attracted over US$30 billion in AI infrastructure investments in the first half of 2024, positioning the regions as Southeast Asia’s hub for AI development. 

Despite advancements, privacy concerns remain a hurdle with consumers oblivious of AI’s data collection practices, prompting stricter regulatory measures from authorities.

But one trend is crystal clear: AI is driving unparalleled change across Southeast Asia, enabling industries to innovate and individuals to thrive. However, addressing challenges such as workforce adaptation, infrastructural bottlenecks, and consumer trust is essential for ensuring equitable and sustainable growth.

—

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

Join us on Instagram, Facebook, X, and LinkedIn to stay connected.

Image credit: Freepik

The post AI productivity boom: Southeast Asia’s race to adapt in a rapidly evolving workplace appeared first on e27.

Asia’s fintech sector is experiencing substantial growth, with transaction volumes projected to hit US$19 trillion by the end of 2025.

This surge is largely fuelled by digital payments and transfers, underpinned by a growing user base and the widespread adoption of mobile technology.

According to recent research by UnaFinancial, the total volume of fintech transactions in Asia reached US$16.8 trillion in 2024, an increase of US$2.1 trillion from the previous year. This places Asia as a major player in the global fintech arena, accounting for 48.2 per cent of the total global fintech volume, which was US$34.8 trillion.

Digital payments and transfers are the primary drivers of growth, contributing 40.1 per cent (+US$834 billion) of the total fintech expansion in Asia. Digital commerce accounted for 21 per cent (US$435 billion), digital banking for 32.9 per cent (US$684 billion), and other sectors made up the remaining 6 per cent (US$124 billion).

Also Read: Why embedded finance is critical to Southeast Asia’s digital future

While digital payments lead the current growth, historical data from 2010-2024 indicates that digital investments and wealth management grew most rapidly at an average of 92.1 per cent per year, followed by digital banking at 48.6 per cent.

Analysts at UnaFinancial attribute the sector’s growth to the rise of super apps, which have transformed consumer behaviour, with shoppers increasingly using built-in features such as digital wallets and buy-now- pay-later services.

Additionally, several Asian governments are implementing policies to develop unified payment platforms, which are promoting the demand for digital financial services by cutting costs for businesses and improving user experience. This trend is especially prevalent in emerging economies with limited access to traditional banking and a growing rate of smartphone usage. The increasing need for cross-border payments is also a key factor.

The Asian fintech market is expected to grow to US$18.9 trillion by 2025, representing a 12.6 per cent year-on-year increase. Globally, the fintech industry is forecasted to reach US$40.1 trillion, with Asia contributing approximately 47.1 per cent of this total.

The digital payments and transfers sector will remain the primary growth driver, contributing 45 per cent of Asia’s market growth, in contrast to a global figure of 32%, indicating Asia’s dominance in this sector.

The post Digital payments drive Asia’s fintech to US$19T, nearly half of global market appeared first on e27.

In today’s interconnected world, where consumers are increasingly conscious about the values upheld by the brands they support, integrating diversity and inclusion (D&I) into a company’s ethos is no longer optional; it is imperative. Embracing D&I not only creates a more just and equitable society but also catalyses building well-developed products and services that resonate with diverse consumer bases.

In a survey conducted by Deloitte, 83 per cent of respondents affirmed that they are more likely to trust a company that promotes D&I. Customers increasingly want to associate themselves with brands that align with their values.

The realm of technology is not exempted. In fact, tech continues to serve as an immutable enabler in facilitating D&I. Another survey conducted by RedThread Research on D&I tech vendors reveals promising market traction. The findings show that nearly 60 per cent of the vendors surveyed have generated revenue of over US$100,000, and more than a third of them have acquired more than 100 customers.

To adapt to the changing demands of customers, investing in technologies that improve user experiences, such as text-to-speech (TTS) technology, is crucial.

TTS provides a multisensory reading experience that combines seeing with hearing. This innovation was originally intended to eradicate accessibility barriers, a purpose it still serves that enables individuals with disabilities, non-native speakers, and seniors who face difficulties navigating complex interfaces to access digital content.

For consumer-facing brands, TTS has become increasingly popular among the younger generation, as evidenced by a 2022 survey showing that 70 per cent of respondents aged 18 to 25 viewed content with simultaneous audio and captioning “most of the time.” Social media platforms like TikTok and Instagram have also incorporated TTS features, making it an anticipated feature across various content consumption platforms.

The benefits of TTS go beyond meeting regulatory requirements or promotional activities. It also serves as a valuable tool for faith-based apps, such as the Muslim Pro app, that cater to a global audience and aim to reach a diverse range of users. 

Fostering inclusivity

Today, Islam is not only the world’s fastest-growing religion but it is projected to be the largest one by 2075. Despite technological advancements, there is still a notable absence of groundbreaking innovation that could significantly transform how Muslims practice their faith.

Also Read: How faith-based lifestyle apps can raise the bar to become super apps

In a world where many Muslims struggle to find the time and space for daily prayers and spiritual practices, TTS offers a convenient solution. For instance, Muslims who are visually impaired may require such tools to access religious texts, such as the Quran, in audio format. For us, implementing TTS is a promising step forward in this regard.

With over 148 million downloads worldwide to date, our app has demonstrated the potential of engineering to promote inclusivity and accessibility for faith-based communities. It has made great strides in reaching a global audience by incorporating the latest TTS technology for reciting Quran translation with support for over 20 languages, including Česko, Korean, Norsk, Italiano, Português, Romanian, and more.

For Muslims, prayers, known as duas and supplications, are often recited in Arabic at various times throughout the day. This makes prayers attainable to users in a user-friendly and comprehensible manner, irrespective of their proficiency in the language. This is an example of how it can be used to bridge cultural and linguistic barriers.

It is also a valuable resource for Muslims who are still learning the Arabic script. Making it available allows us to ensure that all Muslims can engage with their faith on their own terms on the go.

Whether you’re in the tech industry or not, the benefits of incorporating innovative tools are evident. As more people turn to digital tools to deepen their connection with their faith, tech companies must prioritize diversity and inclusivity in their products and services. By investing in innovative solutions like TTS, we can improve user experiences and reach a broader audience, promoting a more inclusive and accessible digital landscape.

–

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

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

Image credit: Canva Pro

This article was first published on May 25, 2023

The post Why is text-to-speech technology a game-changer for inclusivity in faith-based apps? appeared first on e27.

The threat landscape in cybersecurity and data protection is evolving, and startups now face new challenges as AI technology rapidly advances and cyber attackers look to employ new tactics. From realistic phishing emails to deepfaked videos, malicious actors are leveraging AI to craft highly convincing and targeted attacks with greater precision and scale.

For startups and SMEs, it is essential that they are well prepared for these challenges and are aware of some of the major threats, both in the present and short-term future. Let’s take a look at three ways in which cybercrime is set to evolve over the next five years.

Commodification of malicious services

The emergence of new tactics such as Jailbreak-as-a-Service highlights the democratisation of cyber threats, underscoring the need for startups to stay ahead of the curve. Recent technological developments mean that hostilities can now come from anywhere, which makes threat detection increasingly complex, particularly as we look ahead to the future.

Ransomware rendered by Malware-as-a-service is becoming more frequent – this is where a ransomware group or gang sells its ransomware code or malware to other hackers, who then use it to carry out their own ransomware attacks. This sort of activity makes it considerably easier for less sophisticated actors to attack businesses independently. 

With the commodification of deepfake services, cybercriminals can easily bypass security measures, leading to devastating consequences such as financial loss and reputational damage. The now infamous case of the Hong Kong finance worker who transferred US$25 million to a fake CFO serves as a cautionary tale to organisations to be more vigilant in the new landscape.

Also Read: From grid to code: Why good cybersecurity will help deliver net zero

High-profile individuals tend to be more prone to spoofing, while government and financial institutions are more attractive targets of ransomware for the amount of sensitive information they hold.

AI model theft and misuse

The potential theft or unauthorised access to AI models developed by startups is another rising issue that will continue to proliferate as more tech startups come onto the scene with proprietary AI solutions over the next couple of years. Stolen models could be misused for malicious purposes or replicated by competitors, leading to intellectual property theft.

Techniques like model extraction attacks pose such a risk, where an adversary prompts the chatbot to divulge information that allows it to recreate its model. Model inversion techniques that enable output data to be used to reconstruct sensitive input data are also gaining ground.

The data is then exposed to further misuse. Adversarial attacks are another form of model misuse that is increasing in prominence, too – they aim to manipulate the model’s inputs to generate incorrect outputs, undermining its reliability and integrity.

AI supply chain attacks

The complex AI supply chain, involving data sourcing, model training, and deployment, presents multiple attack vectors that startups must secure. But this doesn’t only apply to AI software in general, which is experiencing more supply chain attacks.

Bad actors increasingly see software, developer infrastructure and third-party providers as entry vectors into governments and corporations. This is a threat that will only proliferate as organisations continue to integrate AI into their infrastructures.

Cybercriminals will look to attack AI supply chains via a variety of methods, including data poisoning attacks, which involve injecting malicious data into training datasets to compromise the model’s performance and introduce vulnerabilities. Meanwhile, model skewing attacks manipulate the training process to introduce targeted biases, backdoors, or other vulnerabilities into the AI model. 

The expanded requirements and capabilities of data protection and data governance 

To mitigate these risks, startups should implement robust data governance practices, invest in explainable AI technologies, as well as conduct regular audits for bias and fairness to maintain human oversight in critical decision-making processes involving AI. Collaboration with security experts and staying updated on the latest AI threats and best practices is also essential.

Also Read: The ever-present threat: Why businesses need robust cybersecurity

Organisations must adopt a comprehensive approach to data governance, especially when adopting AI to process personal information. In practice, this requires a layered strategy accompanied by accountable data handling practices by humans. With many tech startups seeking to roll out their own AI solutions, adopting a privacy-by-design approach where privacy considerations are integrated into every stage of the development and operation of a system is expected.

Proactive threat intelligence, conducting robust third-party due diligence, and implementing stringent data protection and encryption protocols are valuable precautions. Startups that collect, use, process or disclose personal data with Gen AI, may consider adopting Privacy Enhancing Technologies (PETs) that enable data analysis without compromising personal information, such as differential privacy, federated learning, and homomorphic encryption.

As many technological controls one can take, human error is still one of the key causes of high-profile data breaches, especially in rapidly growing startups. As such, educating employees and executives on data handling best practices and the risks of AI is crucial. 

Educated leaders and staff training are essential in the age of AI

Effective data handling and security, especially when leveraging AI as part of your product or services, hinges on a well-informed workforce that is not limited to IT professionals. Staff training programmes tailored to individual roles and responsibilities should be carried out, including realistic simulations that provide practical experience in handling cyber threats.

There are also internationally recognised courses that integrate data governance, generative AI and privacy security, suited for CTOs and IT personnel in tech startups looking to forward their venture. The International Association of Privacy Professionals’ (IAPP) Certified Privacy Information Technologist (CIPT) course imparts techniques to manage cybersecurity risks while enabling prudent data use for business purposes.

Continuous vigilance and accountability are paramount to strengthening organisational resilience against social engineering tactics and human error-induced breaches. With the right knowledge and training, leaders and employees will be better equipped to successfully implement best practices and processes early in your startup’s stage of growth so that you can sustainably adapt to evolving regulations and business growth.

—

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

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

Image credit: Canva Pro

The post Cybersecurity in the AI age: How startups can stay ahead appeared first on e27.