Recently, Discovery/Shift announced the launch of DSLaunchpad AI, which is dubbed Indonesia’s first and biggest AI startup incubator.

The organisation has opened registration for the six-week programme, which seeks AI startups with less than US$500,000 in funding and fewer than 10 employees, at least one Indonesian citizen in its team, and working on ideas using technologies such as Machine Learning, Deep Learning, Robotics, Computer Vision, or Generative AI.

These startups will have the opportunity to gain mentorship from notable names in the Indonesian tech startup ecosystem, including On Lee (CEO at GDP Labs), Risman Adnan (Digital Tech Director at Kalbe), Andrias Ekoyuono (Chief of AI at kumparan), and Hokiman Kurniawan (CEO at Meeting.ai).

According to Discovery/Shift Managing Partner Rama Mamuaya, in a call with e27, the first advantage of the programme is the mentors involved in it.

“We are extremely picky with our mentors. We want someone who has achieved something, not just someone who is good with storytelling and public speaking despite the importance of these skills. We try to implement a very high standard,” he says.

Also Read: Artificial intelligence and the art of building presentations

Discovery/Shift, which is a boutique research, consultancy, and advisory firm that started out in 2008 as tech media DailySocial, has invested in one startup and intends to use the programme to help it search for more.

“We see a lot of opportunities in early-stage startups. Very similar to our investment thesis, we also aim to be industry-agnostic. We see that the demand for AI-enablement is cross-sectoral in nature,” Mamuaya says.

In the near future, Discovery/Shift plans to continue working with organisations that are relevant to the growth of AI, from venture capital firms and cloud hosts to chipset manufacturers.

“We strongly believe that AI implementation in the next year will not be anything ‘special’; everyone will be using it. Just like the mobile app when it was first introduced.”

Corporations lead the AI revolution

When asked about significant trends in the AI segment today, Mamuaya begins by pointing out that unlike previous trends in the tech industry, such as Web3, corporations are leading the movement towards AI adoption.

In Indonesia, the banking industry is at the forefront of AI adoption, as reflected in DiscoveryShift’s experience with its clients. The media and entertainment industries followed suit.

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

“In the past, we may have seen the banking industry discussing incorporating blockchain and coins into their system, but we did not see that happening,” he explains.

“What makes AI really stand out is actually corporations’ response to it. In fact, in the banking industry, they have implemented AI since the 1990s for credit scoring, ATM, load balancing their tech stack … So, for them, it’s not a new concept.”

Another notable trend, which Mamuaya believed might sound surprising, is that “no one seems to be investing in AI.”

“Investments in AI companies remain very small because the market continues using products by companies such as OpenAI and Anthropic. The smaller, more applicate, app-level companies do not receive that much amount of money,” he elaborates.

“We did some research and learned that the valuation has not come down that much because these smaller companies are still building on top of the existing LLMs provided by the larger companies, including in Indonesia, even though there are parties that are working LLMs in local and regional languages.”

Indonesia and AI

What are the hurdles that businesses in Indonesia face in terms of AI adoption? According to Mamuaya, some corporations do not understand their own business processes, which prevents them from knowing how to properly implement AI in the right places.

Also Read: Ethics and Artificial Intelligence: Is the technology only as good as the human behind it?

“We often tell them, ‘Sir, you can’t use AI in this business process because your process goes like this,’ and their reaction would be, ‘Oh, so that’s how our business process works!’” Mamuaya says.

“As for companies who already understand AI, their middle-level managements are more detailed with the implementation and in identifying where can automate or augment or eliminate.”

Is there any talent issue in Indonesia? According to Mamuaya, it depends on the focus and skill level.

“If you need data scientists or any level that requires a PhD, of course, [there is an issue]. But like many large markets outside of the US, China, and Europe, we are not developing hardcore, paradigm-shifting core technology,” Mamuaya closes.

“We are only doing this on the applicative level, so we are not facing a problem with talents … even though there is a good argumentation for organisations and even the government to have a sovereign AI.”

—

Image Credit: Discovery/Shift

The post Launching Indonesia’s first AI incubator, DiscoveryShift bridges corporate-startup collaboration appeared first on e27.

Partior, a blockchain-powered fintech company for real-time payment clearing and settlement, has hit the first close of its over US$60 million Series B funding round.

Peak XV Partners led the round, which included participation from Valor Capital Group, Jump Trading Group, J.P. Morgan, Standard Chartered, and Temasek.

This new round of funding will enable it to advance new capabilities like Intraday FX swaps, cross-currency repos, Programmable Enterprise Liquidity Management, and Just-in-Time multi-bank payments.

Also Read: Evaluating the spread of blockchain technology in the financial sector

The investment will also support Partior’s international network growth and the integration of additional currencies, including AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR, into its network. Partior is currently live with USD, EUR and SGD.

Founded in 2021, Partior aims to address the operating inefficiencies experienced by industry players, including settlement delays, limited transaction transparency and high operating costs, by facilitating the movement of liquidity for financial institutions and their customers.

The firm’s unified ledger enables global financial market participants, including banks and payment service providers, to join its network and access real-time, cross-border, multi-currency clearing and settlement.

Its 24×7 blockchain network can interoperate with real-time local currency payment and RTGS systems globally and facilitates both direct and indirect settlement flows with market players.

Partior’s shared ledger also enables transfers with real-time settlement finality, offering instant liquidity and transparency and overcoming shortcomings associated with sequential processing in legacy payment systems.

Additionally, it is exploring new services, including intra-day swaps, Delivery versus Payments (DvP) settlement and enterprise solutions.

Licenced by the Monetary Authority of Singapore, Partior counts DBS, JP Morgan, Standard Chartered, and Temasek among its founding shareholders.

Also Read: ASEAN explores dropping US dollar: A shift towards CBDC and blockchain technology

DBS, JP Morgan, and Standard Chartered use Partior to facilitate customer payments. Companies, including Siemens and iFAST Financial, use Partior for better access and control of their working capital, 24×7 availability, and faster, more seamless payment flows.

The post Blockchain-powered fintech firm Partior hits first close of US$60M round appeared first on e27.

e27 has been nurturing a supportive ecosystem for entrepreneurs since its inception. Our Contributor Programme offers a platform for sharing unique insights.

As part of our ‘Contributor Spotlight’, we shine a spotlight on an outstanding contributor and dive into the vastness of their knowledge and expertise.

In this episode, we delve into the journey of Darryl Han, CEO and co-founder of LFG, a new travel discovery engine. Leveraging his extensive global experience, Han drives the startup’s early stages.

With over seven years of leadership experience, he has successfully led teams, managed operations, and implemented transformative solutions across multinational corporations and tech giants like BHP, Grab, and Quqo, spanning Australia, Singapore, and Vietnam.

Thoughts, goals, and journey

Han started his career in Australia, advancing from a mining engineer to a production supervisor and coordinator. Amidst the challenges of COVID-19, he made a pivotal career shift from mining to the tech sector in Asia, inspired by Grab’s transformative impact on the economy.

Relocating to Singapore, he pursued a Master’s degree in Management of Technology (MOT, akin to an MBA with a tech focus) while concurrently securing a role at Grab. While completing his studies, he contributed to strategic operations for GrabPay and GrabFood, marking his entry into the tech industry.

“I’ve always been interested in startups, so I took an extended leave from my Master’s programme to dive into them. I joined a Vietnamese startup as an intern through the NUS Overseas College programme and quickly became one of the CEO’s right-hand men. This journey taught me a lot about building a startup from the ground up,” Han said.

Also Read: Experience over expense: How Gen Z and Millennials are redefining travel

Meanwhile, he co-founded LFG with a partner, dedicating nights and weekends to its development. In 2024, they made the leap to work on LFG full-time, launching on Product Hunt and joining Antler Vietnam. They are currently focused on building the next iterations of LFG, guided by user insights and their vision to revolutionise how next-generation travellers discover and plan trips.

Looking ahead, Han’s professional goal is to launch and grow his own venture successfully. Personally, he aims to share his experiences through writing, contribute to thought leadership, and even explore writing fictional short stories.

The driving force

Han’s motivation to contribute began with a desire to share thought leadership and industry insights from his time at a Vietnamese eB2B business, which focused on digitising traditional trade channels in Southeast Asia. His first article centred around that experience.

He joined the e27 contributor community in December last year and has written articles on topics such as recent market trends, the travel sector, entrepreneurship, and more.

“As I kept writing, it became a way to exercise my brain and find clarity in my own thoughts and ideas. I found some of these insights pretty interesting, so I thought, why not share them with others who might be navigating similar challenges? That’s what motivated me to become an e27 contributor — to connect, inspire, and hopefully make a positive impact on others in the startup community,” he said candidly.

Advice for budding thought leaders

Han stresses the importance of diving into writing without hesitation. “Just start writing. Get your thoughts out there, even if they’re rough at first. Tools like ChatGPT and Meta AI can help polish your initial thoughts but don’t rely on them too heavily. Use them to kickstart ideas, then refine your points in your own voice,” he advises.

Also Read: Travel revival: Asia-Pacific on the rise!

“Personally, I find it effective to write like I’m sharing a story, as it makes my writing more engaging and relatable. As an engineer, I always back up my ideas with data and quotes from experts, which adds credibility and strength to what you have to say.”

Juggling too many things?

Han believes that balancing work, contributing, and personal life is all about doing what you love each day, focusing on the crucial 20 per cent that yields 80 per cent of the results and making time for what matters most. “Many have heard this advice before, but it truly works,” Han remarks.

“Self-reflection is key for personal and professional growth. At the end of each year, I review my life like chapters in a book, learning from past experiences to shape the next chapter. I manage my time with tools like iPhone reminders, Google Calendar, and Monday.com for work and life admin tasks. When it comes to leisure, I plan day by day, keeping things flexible and spontaneous (in LFG fashion, of course).”

Staying in the loop

Han stays updated by using LinkedIn for news and announcements. Additionally, he subscribes to articles from e27, Skift, and Phocuswright, as well as Techzi, Strategy Breakdown, Tech in Asia, and TechCrunch. These resources offer him general tech industry updates, trends, and thought leadership columns. For general news, he follows stories from the New York Times and Bloomberg.

To stay updated with the travel industry, he suggests checking out Travel Massive, Skift, and Phocuswright for the latest updates, insights, and community engagement.

As a movie buff, Han finds movies about finding passion, self-discovery, and personal growth particularly inspiring for entrepreneurs. Films like Whisper of the Heart, Good Will Hunting, Dead Poets Society, and The Pursuit of Happyness are his go-to choices for motivation on this winding journey.

“Finding passion isn’t hard. The hard part is having the courage to follow it,” he concludes.

—

Are you ready to join a vibrant community of entrepreneurs and industry experts? Do you have insights, experiences, and knowledge to share?

Join the e27 Contributor Programme and become a valuable voice in our ecosystem.

The post From mining engineer to travel tech visionary: Darryl Han transforms trip discovery appeared first on e27.

Pandemic changed how companies hire — it moved from looking for specific skills rather than proven competencies in a particular industry as companies saw the gap in their skill pool. The pandemic also saw people actively reskilling and upskilling themselves as they realised the need for more tech knowledge and digital know-how, as remote work became a norm.

Consider this, PWC’s The Future of Work report highlights that two out of five people around the world believe that traditional employment won’t be around in the future. Instead, people will have their own ‘brands’ and sell their skills to those who need them. In fact, people are more likely to see themselves as members of a particular skill or professional network than as an employee of a particular company.

Skill-based hiring versus industry-based hiring

Skill-based hiring looks at a candidate’s holistic skill set, which transcends across verticals and industries. Industry-based hiring, as the name suggests, depends on a particular industry experience, last job title, and educational or vocational degree of a candidate.

Ideally, a hire should demonstrate a healthy mix of skills and industry-based learning, but the need also depends on which role you are hiring. For a tech-based job, skills matter more than educational qualifications and past experience, but for a creative job, past experience and mettle matter more.

Also Read: Why HR tech will make Asia’s next unicorns

Employers, increasingly, are leaning towards hiring on the basis of skills and competencies rather than focusing on advanced degree completion as a prerequisite. This has resulted in cross-industry hiring and filling in-demand roles more effectively. However, this has also led to people being unemployed because their experience doesn’t account for much anymore if they don’t have the prerequisite skills.

Before an employer starts the hiring process, it is imperative to note the pros and cons of both, skill-based hiring and industry-based hiring, to proceed.

Do you want a diverse talent pool?

The companies, with or without tech at its core, now seek talent that is resourceful, adaptable and resilient. Tech skills are in demand, and easily transferable across sectors and industries, whereas experience in the same industry needs upskilling in most cases.

For HR to evaluate people on their skill sets instead of work experience helps create a diverse pool of talent within an organisation, which leads to better problem-solving in a crisis, bringing and implementing fresh ideas.

Considering people with the same industry experience remains important when seeking top candidates in a company, for they know the pitfalls and how to avoid roadblocks, how to motivate the team members and bring soft skills to the table such as communicating efficiently and quickly, ability to work with various teams, and prioritise.

Do you have the bandwidth to train?

According to an HBR article, JPMorgan Chase added US$350 million to their US$250 million plan to upskill their workforce. Amazon is investing more than US$700 million to provide upskilling training to their employees. PwC is spending US$3 billion to upskill all of its 275,000 employees over the next three to four years.

Digital transformation, tighter budgets, and rising inflation have led companies to cut down drastically on budgets that were previously kept for training their existing workforce. With the demand to ‘hit the ground running’, HR is looking for people who come with the required skills when joining a company.

Also Read: Are you a human resource?

However, many organisations are still making an effort to train their existing workforce, for they have the industry know-how and are equipped to translate a crisis into a win-win when equipped with better skills. This also ensures a good career progression for the employees as well, apart from them being loyal to your organisation.

Which skills are important for your organisation?

On LinkedIn, one can see an increase of 21 per cent in job postings that now advertise skills and responsibilities rather than just listing out qualifications and industry-specific requirements. However, the Future of Work Trends 2022 report says that 69 per cent of companies value a person’s curiosity and willingness to learn more than their degree and experience. Though technical know-how is valued more now, it is important to gauge whether an organisation wants to hire on the basis of foundational and transferable skills as well.

While evaluating applicants, companies are now increasingly focusing on degree and industry-based experience as hygiene instead of hiring on the basis of skills and competencies.

With people increasingly switching from their core industry to an unchartered territory, it has become imperative to assess candidates on the basis of skill sets more than ever. While experience trumps for the top and middle order, companies are relying on people with required skills especially at the junior level.

Going forward, it is a given that skill-based hiring will overtake industry-based hiring, but it will also lead to more upskilling of the resident talent within a company.

—

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 Skill-based hiring vs industry-based hiring: How should one decide? appeared first on e27.

As a Mobile Marketing Director with over a decade of experience in both startups and large companies, I am well-versed in mobile marketing but lack knowledge in coding and no-code tools. However, I decided to take on the challenge of creating a kids’ meditation app for several reasons.

Firstly, my children’s favourite meditation app vanished. This app was unique as it prioritised addressing feelings before diving into meditations. I wanted to recreate this valuable resource, mostly for selfish reasons, so my children could have a tool to help them manage their emotions.

Additionally, the ease of creating apps, as advertised by various platforms, intrigued me. The world of AI also fascinates me, and this project seemed like a perfect opportunity to explore its capabilities.

After a few weeks, I successfully created the first draft of Mini Meditators. Contrary to the advertisements, the process wasn’t as straightforward as the no-code app builders suggested and definitely took longer than five minutes to create.

Here’s how my journey unfolded:

Initial attempts

•  I started by building a mockup on Canva, hoping to find a tool that could transform it into an actual app. Unfortunately, there wasn’t one.
• Next, I tried using templates from Figma to create the app, but this approach failed to yield any tangible results.
• I then explored Bubble, utilising a free meditation template I found online, but progress remained elusive.

Breakthrough with Bubble

Purchasing the InnerSpace Bubble template marked a turning point. Customising the template was relatively straightforward, and my Canva designs provided a solid starting point. This phase is where AI became instrumental.

Leveraging AI for design and content

ChatGPT helped me create a fun logo and various headers for each meditation. By establishing brand guidelines, ChatGPT generated cohesive images that perfectly matched my vision.

Also Read: Artificial intelligence and the art of building presentations

For the meditations themselves, I provided ChatGPT with a template based on my kids’ favourite meditations and ideas they gave me for new meditations to try out. AI expanded this into full scripts, and after experimenting with several tools, I found Play.ht to be ideal for voice generation.

Integration and monetisation

 To convert my Bubble project into a native app, I chose Natively for its native capabilities and integration with RevenueCat, to ensure I can monetise my app. Natively, it also includes basic analytics and OneSignal for notifications.

While setting up, I encountered some challenges and hired an Upwork developer for US$50 to add a feelings page and resolve a few bugs.

This project has been an exciting opportunity to learn new skills and delve into a new domain. My next steps involve converting the app to iOS, integrating RevenueCat and paywalls, and then promoting it before adding more features for future versions. 

I’ve already shown the app to my main target audience, my children, and they love it. Seeing their excitement and approval of something I built from scratch specifically for them has been incredibly rewarding and was my main KPI for this project. The cost wasn’t US$0, but it was low enough that I would encourage anyone with an idea to experiment with the new AI tools available and see what cool app they can create.

—

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 courtesy of the author.

The post Can you build an app without coding? My experiment might surprise you appeared first on e27.

Packworks, a B2B marketplace for fast-moving consumer goods (FMCG) targetting sari-sari stores (neighbourhood mom-and-pop stores) in the Philippines, has received US$60,000 in research funding from the Department of Science and Technology (DOST).

The funding was channelled through the DOST-Philippine Council for Industry, Energy and Emerging Technology Research and Development (PCIEERD) Startup Grant Fund (SGF) Program.

Also Read: How soonicorn GrowSari plans to expand its reach to 300K sari-sari stores in Philippines

The money will help Packworks develop a machine-learning-powered precision marketing model. This model will offer sari-sari stores customised recommendations on sellable items and promotions from its FMCG partners. The feature will be launched as an in-app service on the startup’s Sari.PH Pro app and is expected to benefit its network of over 270,000 stores nationwide.

The aim is to equip over 1.3 million micro-retail stores in the country with data-driven inventory management tools to enhance business growth. “Through this AI-powered model we will develop in partnership with DOST, we aim to equip small entrepreneurs with data-driven insights and targeted strategies for enhanced business success and expansion,” said Packworks Chief Data Officer Andoy Montiel.

Sari-sari stores are part of micro, small, and medium-sized enterprises (MSMEs) in the Philippines, which account for an overwhelming 99.5 per cent of all business establishments. Around 500,000 are in the wholesale and retail industry.

Despite serving as the primary source of daily essentials for around 94 per cent of Filipinos, Sari-sari stores often face challenges such as inadequate financial management, lack of actionable customer insights, and ineffective promotional campaigns.

Furthermore, the lack of a streamlined approach to receiving high-quality promotions, such as discounts or personalised item packages from FMCG manufacturers, restricts store owners from effectively enticing and retaining customers.

Launched in 2018 as a solution for multinational companies with only a handful of sari-sari store partners, Packworks has expanded as a B2B platform that enables growth and success throughout all stakeholders in the supply chain ecosystem, from small sari-sari store owners to wholesalers, distributors, and renowned FMCG companies and brands. Through the Sari.PH Pro app, sari-sari store owners can access pricing tools, inventory management, sales and revenue tracking, and working capital loans.

Also Read: Packworks bags US$2M to launch m-ERP platform for Filipino sari-sari stores

In July 2022, Packworks raised US$2 million in seed investment led by Fast Group and global PE firm CVC Capital Partners, with participation from ADB Ventures, Arise, Techstars, and IdeaSpace Foundation.

In 2022, the startup launched Sari IQ, a business intelligence tool offering real-time and historical consumer expenditure data to help retailers and brands gain visibility into sari-sari stores and expand their reach to more customers. Analysis through the platform also helps them make data-driven decisions to boost the sales of sari-sari store owners by understanding and predicting consumer demand within their area.

—

Image Credit: Packworks.

The post Filipino B2B marketplace Packworks gets government backing to develop AI feature appeared first on e27.

In the rapidly evolving landscape of insurtech and healthtech, Rey Indonesia stands out with its innovative approach to health insurance. By transforming traditional health insurance into an all-encompassing, subscription-based service, the startup offers an experience akin to a Netflix subscription, but for healthcare. It claims to have over 10,000 active members and works with 100 organisations.

In 2022, the startup secured US$4.2 million in a seed round led by Trans-Pacific Technology Fund, Genesia Ventures, and RDS.

Rey was one of the ten finalists who pitched at the annual global Elevator Pitch Competition (EPiC) organised by the Hong Kong Science and Technology Parks Corporation (HKSTP) in April.

On the sidelines of the event, we spoke with Rey’s co-founder and CEO Evan Tanotogono, who discussed the company’s unique value proposition, regulatory navigation, and expansion plans within Southeast Asia.

Edited excerpts:

Rey Indonesia is at the intersection of insurtech and healthtech. How do you redefine health insurance or health protection? How does Rey work from a consumer’s point of view?

At Rey, we redefine health insurance by offering an end-to-end membership that combines prevention and protection in one seamless experience. Imagine it like a Netflix subscription for healthcare.

Also Read: Insurtech shines amidst overall funding decline in Indonesia in H1

This integrated approach makes our system highly efficient, resulting in a claim ratio that is at least twice as favourable as other health insurance providers in the country.

From a consumer perspective, Rey functions like a healthcare subscription service. You pay a monthly or yearly subscription fee. In return, you gain access to a range of services, including consultations with nutritionists, wearable devices to track your health metrics and rewards for maintaining a healthy lifestyle.

When you’re unwell, you can speak with a doctor and get medicines, all included in your subscription. We don’t charge anything beyond the fixed subscription fee, as everything is integrated and compliant with insurance regulations.

Do you work with all kinds of insurance companies?

We don’t work with many insurance companies because we are neither a broker nor are we a marketplace. We design our own product and collaborate with a single insurance company to register our product with the regulator. Essentially, we operate like an insurance company ourselves.

What opportunities do you see for Rey in Indonesia and elsewhere in Southeast Asia?

Over 280 million people live in Indonesia alone, but private health insurance penetration is only around 3 per cent. This is not just because people are reluctant to buy insurance, but also because insurance companies struggle to supply it sustainably due to high claim losses. We simplify the process by offering a subscription model, making it appealing to both consumers and insurance companies.

We currently have over 10,000 active members and work with 100 organisations in the archipelago. Last year, we grew sevenfold. This growth shows that we are delivering a health solution that resonates with both consumers and the insurance industry.

Looking ahead, we see potential in other emerging markets like the Philippines, Vietnam, and Cambodia, where similar challenges exist. In Hong Kong, a strategic market for insurance, we aim to leverage our technology to help local insurance companies.

How do you deal with the regulations in the highly regulated insurance and fintech industries?

We are the only platform registered with both financial and healthcare regulators. We bridge the gap between these two industries by telling a compelling story to each regulator. To the financial regulator, we emphasize the need to address healthcare challenges within the insurance framework.

To the healthcare regulator, we highlight our financial perspective on digital health. This dual registration demonstrates our commitment to operating at the intersection of both industries.

How do you educate people about your product given the low penetration of insurance in Indonesia?

Educating the market is crucial, but it’s equally important to make the product easy to sell. We focus on providing a healthcare solution that people can relate to, simplifying the concept of insurance into a subscription model.

Also Read: AI’s transformative role: Making insurance accessible and affordable globally

This approach has been effective, as evidenced by our membership base, which includes many from lower-tier areas who have never purchased insurance before. By making the product relatable and accessible, we’ve managed to penetrate almost 100 per cent of Indonesian provinces.

What are the major challenges you face as you grow?

One of the challenges is that our business model doesn’t fit the traditional broker or insurance marketplace models. We are redefining health insurance, which can be seen as both a competition and an opportunity by existing insurance companies. We are open to collaboration, offering to help improve their claim ratios and reach more people with our innovative approach.

—

Image Credit: Rey Indonesia.

The post Rey seeks to redefine health insurance in Indonesia with a Netflix-style subscription model appeared first on e27.

When Anchanto CEO and founder Vaibhav Dabhade gets on a call with e27, he speaks about how attending Echelon in 2011 inspired him to start the e-commerce and logistics tech company.

Today, Anchanto is present in 11 countries worldwide, including Singapore, Malaysia, Indonesia, the Philippines, Thailand, Vietnam, South Korea, UAE, the UK, and France. Despite market volatility, it has also achieved a 42 per cent growth by 2023.

“This shows that we are on the right track … and that our business model is working,” he says.

According to the CEO, significant milestones that Anchanto has made include the hiring of senior roles that it has been expecting to do for a long time and the acquisition of customers from specific segments such as the B2B and Muslim commerce segments.

But this does not mean that running a growth stage startup is not without challenges. With a team of 140 people across 11 countries, Dabhade names different levels of challenges, starting with communications. “A lot of time is spent to ensure that we don’t miscommunicate, under-communicate or over-communicate with.”

Also Read: Gobi-backed Pakistani social e-commerce startup DealCart raises US$3M afresh

The next challenge is ensuring that the Anchanto software is always integrated into the local e-commerce and supply chain ecosystem so that customers can use it properly. This includes making sure that the Anchanto platform is in line with new e-commerce and logistics regulations in 11 countries, a workload that could put a strain on any team.

To tackle this, Anchanto tries to be present in every market it operates in.

“In every market we are active in, we always have a local small team. We spend time and more effort in partnerships with platforms and supply chain companies for integration. That is definitely a different scale of problem compared to when we were small,” he elaborates.

Every time Anchanto enters a new market, it sends a launch team that brings its expertise to set up the company’s presence before it hires a local team.

“Over a period of time, the local management team will be hired, and the launch team will stay until it is time for them to exit to go to the next market. That systematic playbook approach has worked very well for us.”

Dabhade also shares that human resources account for around 80 per cent of the company’s costs as a software company.

Also Read: Succeeding in e-commerce in China: Building AI-powered chatbots that know how to close a sale

“We are a software company, so it is very simple for us. We do not own offices, infrastructure, warehouses, inventory, or anything. We only own laptops, and our people work remotely from the offices that we rent,” he explains, stressing that in business, people make all the difference.

“If you support their career path, give them things to do, and share the benefits with them, they will make all the difference. You cannot grow a company where the people do not grow.”

Final thoughts on running a growth-stage startup

Anchanto raised a US$12 million Series C funding round in 2020 from the likes of MDI Ventures and Ascendia. Back then, the company had already claimed profitability.

When asked about the other things growth-stage startups should always keep in mind, Dabhade stresses the importance of ensuring that the company never runs out of cash.

“Make use of your money very, very carefully. That comes to the first thing in my mind when we talk because, when you are growing, it is very easy to end up burning money. So, be extremely frugal in our approach.”

He laments the cash-burning culture that many startups swear by, calling it a potential damage in the long run, both for the companies, their customers, and the e-commerce ecosystem. “You have to take care of your fundamentals.”

Also Read: What AppsFlyer recommends to keep customers coming back to your e-commerce site

Dabhade also reveals that Anchanto never withdraws from every market with a presence.

“We prefer to walk slowly, but we do not walk back. That has been our principle everywhere we go. We stay there, we grow there. We never withdraw.”

—

Image Credit: Anchanto

The post Anchanto CEO on why human resource is essential for a growth stage startup appeared first on e27.

Singapore’s artificial intelligence (AI) landscape is experiencing a dynamic transformation, positioning the city-state as a leading global hub for AI innovation and application. With substantial investments flowing into the sector, Singapore has become a fertile ground for AI startups and established companies alike, driving advancements across various industries.

In finance, companies like TSLC and Trusting Social are at the forefront, leveraging AI to provide digital banking services and sophisticated credit scoring systems. The healthcare sector is also witnessing significant AI integration, with Holmusk utilising predictive analytics for mental health and Us2.ai offering real-time echocardiogram analysis to detect heart risks.

Retail and e-commerce are not left behind, with Neso Brands and ViSenze pioneering augmented reality and visual search tools to enhance customer experiences and drive sales. Companies like Wiz Freight, which employs AI for efficient freight forwarding solutions, are revolutionizing the logistics and transportation industries.

Environmental sustainability and space technology are also seeing AI applications, as demonstrated by UMITRON’s AI-driven aquaculture solutions and Infinite Orbits’ autonomous satellite services.

These innovations are supported by substantial funding from top-tier investors, including venture capitalists, institutional investors, and government initiatives.

Overall, Singapore’s thriving AI ecosystem is characterized by its diverse applications, robust investment landscape, and collaborative environment that fosters continuous innovation, solidifying the nation’s reputation as a powerhouse in the global AI arena.

Also Read: Beyond the hype: Taking Gen AI mainstream with next-level automation

Here are the island nation’s top 30 funded AI innovators transforming industries (Special thanks to data intelligence platform Tracxn):

TSLC

TSLC specialises in providing digital banking services for underserved individuals. The firm has developed an artificial intelligence-based integrated credit-led financial wellness platform and uses AI and machine learning (ML) technology to predict customer behaviour.

The startup’s services include savings wallets and physical and virtual credit cards for online and offline purchases, bill payments, and money transfers.

Total funding raised: US$225 million
Investors: JPIN, Rothschild & Co, arvinvestments.com, Riverside, Victory Capital, QP Global Family
Annual revenue: Not available

Holmusk

An AI-based digital health solution and data analytics provider, it offers NeuroBlu, a platform that monitors the user’s data. Its prediction engine recommends lifestyle changes before the condition worsens. The proprietary analytical tools work on real-world data to recognise disease progression. The EHR system is designed to capture and monitor decisions and is combined with past mental health records.

Total funding raised: US$109.3 million
Investors: Veradigm, Heritas Capital Management, Health Catalyst Capital, dRx Capital, Northwell, Optum Ventures, German Entrepreneurship, RISE, Enspire Capital, MadDog Ventures, JLABS
Annual revenue: US$1.1 million (as of March 31, 2018)

Neso Brands

Neso has developed AR-based virtual trial solutions for businesses. Its platform offers virtual trial solutions that enable users to try eyewear using phone cameras with AI, AR-based, and eye-tracking technologies.

Total funding raised: US$100 million
Investors: Alpha Wave Global, Temasek, KKR, and SoftBank Group
Annual revenue: Not available

Trusting Social

It is a software solution for loan lifecycle management. It offers trust scores of individuals by using artificial intelligence and alternate data with underwriting and fraud management insights, digital onboarding of customers with secure transactions by using facial recognition and AI models, and segmentation of customers for multiple consumer loan products.

Total funding raised: US$84 million
Investors: Masan Group, sherpapullovers.com, The Sherpa Company, 500 Global, Beenext,
Peak XV Partners, Kima Ventures, 500 Fintech, Ascend Vietnam Ventures, Tanglin Venture Partners, Genesis Ventures, scifinancial.com
Annual revenue: US$23.6 million (as of December 31, 2021)

Silent Eight

It is an AI-based fraud management platform that enables users to scan data sources in variable formats, including local and remote online news articles. The firm offers solutions for automated alert adjudication, name screening, transaction screening, and transaction monitoring.

Total funding raised: US$61 million
Investors: TYH Ventures, HSBC, OTB Ventures, Wavemaker Partners, SC Ventures, Aglaia, Crystal Horse Investments, Joyful Frog Digital Innovation, others
Annual revenue: US$2.9 million (as of March 31, 2022)

CXA Group

Connexions Asia (CXA) provides an AI-based benefits marketplace for employer insurance. It also offers an AI-based app for people to connect with health and wellness products and services. The company features solutions for quoting, claim processing, payments, recommendations, and data insights.

Also Read: The human touch endures: Why AI won’t replace all blue-collar jobs

Total funding raised: US$58 million
Investors: Humanica, HSBC, Heritas Capital Management, MDI Ventures, Sumitomo, Openspace Ventures, Singtel Innov8, B Capital Group, Singapore Economic Development Board, others
Annual revenue: US$13 million (as of December 31, 2018)

Wiz.AI

It is an AI-based voice and speech recognition solution for multiple industries. Its talk bot platform allows users to record voice conversations with text translations and interact with real humans. Wiz.AI uses neural network technology that allows customer classification, identification of customers, and segments to prioritise follow-ups. The product features include mobile security, data management, management of mobile devices, mobile content, mobile applications, mobile security, and data leak prevention.

Total funding raised: US$58 million
Investors: Tiger Global Management, Yunqi Partners, Gaorong Capital, GL Ventures, K3 Ventures, Singtel Innov8, GGV Capital, Wavemaker Partners, Insignia Ventures Partners,
Hillhouse, Singtel, Plug and Play APAC
Annual revenue: US$1.7 million (as of December 31, 2021)

Wiz Freight

It is an AI-enabled tech-driven freight forwarding solutions provider. It provides services, such as air, ocean, and surface transportation. It has features like booking, live tracking, digital financing, collaborative shipping task management, full container and partial container load shipping, door-to-door shipping, cargo insurance, and customs and trade management.

Total funding raised: US$52.5 million
Investors: SBI Investment, Tiger Global Management, Nippon Express, Axilor Ventures, Arali Ventures, Unikon Shipping Ventures, Foundamental, Trifecta Capital
Annual revenue: US$157 million (as of March 31, 2023)

Ficus.AI

It is a provider of market intelligence solutions to offline retailers. Focus.AI’s new retail solutions aim to empower brick-and-mortar retail shops in Southeast Asia. Its customers are coffee shops, restaurants, traditional grocery stores, fashion shops, and supermarkets.

Total funding raised: US$50 million
Investor: eWTP Capital
Annual revenue: US157 million (as of December 31, 2021).

Rotimatic

Rotimatic develops fully automatic flatbread-making robots. The robot has built-in AI and IoT capabilities with a 32-bit microprocessor that harmoniously orchestrates ten motors and 15 sensors. Users load the machine with the required ingredients and select the amount of bread they wish to make, up to 20 loaves of bread in one go. It claims that the robot mirrors human judgment to adjust the proportion of flour and water in real time.

Total funding raised: US$48 million
Investors: Credence Partners, EDBI, Openspace Ventures, Robert Bosch Venture Capital, SPRING Singapore, NUS Enterprise, Enterprise Singapore, ABCOM Investments, Rikvin Ventures
Annual revenue: US$21 million (as of December 31, 2018)

Graas

It provides AI-based predictive analytics solutions for e-commerce businesses. The company’s proprietary AI engine connects data sources and generates recommendations across marketplaces, D2C websites, CRM, marketing, and the last mile. It also provides insights into product categories, sizes, stock availability, shipping, and exchanges and returns.

Total funding raised: US$40 million
Investors: Integra Partners, Yuj, A. J. CAPITAL, Kejora Capital, Orbit Capital Malaysia
Annual revenue: Not available

ViSenze

ViSenze provides AI-based visual search and recognition tools for e-tailers. It uses deep learning and computer vision techniques to conduct image extraction and recognition, adaptive machine learning, and dynamic contextual analysis. For shoppers, it enables product search and discovery on online platforms. ViSenze also recommends products based on shoppers’ product purchase behaviours and insights.

Also Read: Experts advocate thoughtful regulation for the rapid rise of Generative AI

Total funding raised: US$34.5 million
Investors: 31VENTURES, Impossible Ventures, Rakuten Capital, SPH Ventures, WI Harper Group, UOB, Enspire Capital, ICT Fund, Gobi Partners, Bright Pixel Capital, FengHe Group, Phillip Private Equity, Raffles Venture Partners, Walden International, UOB, SPRING Singapore, Tembusu Partners, Global Brain, Innoven Capital, NUS Enterprise, SEED Venture Capital
Annual revenue: US$6.07 million (as of December 31 2022)

RDC

It is a lending-as-a-service platform that leverages AI technology for credit risk scoring and decisioning with insights into borrower’s behaviour.

Total funding raised: US$32.5 million
Investors: Westpac, nCino, BMY Group, Octava
Annual revenue: US$1.4 million (as of September 30, 2022)

Taiger

Taiger provides robotic process automation solutions. Primarily serving the banking, insurance, and government sectors, the company specialises in advanced AI-engineered information access and extraction solutions. It provides solutions for automated onboarding, processing of SSIs, ISDA documentation review, claims processing, customer biodata reconciliation, NRICs & CPF statements, automatic metadata generation, and semantic search.

Total funding raised: US$31.3 million
Investors: PacificBridge Asset Management, MCM Partners, Plug and Play Tech Center, SGInnovate, ICT Fund, MS&AD Ventures, Plug and Play APAC
Annual revenue: US$2.7 million (as of December 31, 2021)

DocDoc

DocDoc is an online platform that uses AI to connect users to doctors. The platform uses HOPE, an AI-powered doctor discovery engine, to find doctors based on users’ medical needs. The platform lists information about clinics and doctors, along with their locations, clinical interests, subspecialties, procedures available, and so on, to enable users to compare and book appointments.

Total funding raised: US$29.6 million
Investors: Sumitomo Corporation, Adamas Finance Asia, Cyberport, SparkLabs Global Ventures, Vectr Ventures, Hong Leong Financial Group, KCP Capital, Jungle Ventures, 500 Global, Hong Leong, Apis Partners, RVP Group, Gaingels, Bells Ventures, Plug and Play APAC
Annual revenue: US$838 (as of December 31 2020)

Pixocial Technology

It provides Generative AI solutions for consumers, businesses, and enterprises. The platform offers photo and video editing software powered by AI technology.

Total funding raised: US$22 million
Investors: Eight Roads Ventures, FutureX
Annual revenue: Not available

Tookitaki

It is a platform offering anti-money laundering solutions. Its features include AML transaction monitoring, customer risk scoring, customer screening, regulatory compliance, case management, and customer due diligence. It also offers financial crime detection and prevention solutions for banks and fintech companies.

Total funding raised: US$20.4 million
Investors: Illuminate Financial, Nomura, Viola Group, Jungle Ventures,
SIG Venture Capital, SEEDS Capital, Enterprise Singapore, Supply Chain Angels, T-Hub, The FinLab, Rebright Partners, Blume Ventures, India Internet Fund, CIIE, Innoven Capital
Annual revenue: US5.1 million (as of December 31 2022)

UMITRON

It develops AI- and IoT-based aquaculture solutions for farms. The company enables farms to optimise their feeding practices, lowering their costs and preventing waste and environmental damage. Its technology stack includes solar-powered IoT devices deployed on aquaculture farms in the ocean to film fishes and measure patterns in their behaviour using computer vision. The solution can detect when fish are hungry through machine learning algorithms and automatically release feed for them. It also leverages satellite imagery to augment these insights by providing information about the temperature of the sea.

Also Read: Amazon to train 15K individuals in AI skills; to invest US$9B into cloud infra in Singapore

Total funding raised: US$20.4 million
Investors: ENEOS Group, QB Capital, Toyo Seikan Kaisha, Shoko Chukin Bank, Inter-American Development Bank, Mirai Creation Fund
Annual revenue: US$2.4 million (as of March 31, 2022)

SWAT Mobility

It provides AI-powered mobility solutions for employee transport management. Its routing technology derives the optimal fleet size, plans employee transport by aggregating data, and designs custom solutions tailored to personalised considerations and on-demand bookings.

Total funding raised: US$19.5 million
Investors: Nippon Express, NEC, Chubu Electric Power, IMC Ventures, G. K. Goh Holdings, Goldbell, UTEC, Global Brain, ComfortDelGro, EDBI, IGlobe Partners, Smrt Ventures, National University of Singapore, Ruvento Ventures, Momentum Ventures
Annual revenue: US$251,000 (as of December 31 2020)

Kristal

It is an AI-based asset management platform for individuals. The company offers algorithms to evaluate the risk of mutual and hedge funds. The platform enables users to create and share investment strategies. It offers a consolidated view of all portfolio investments, the historical performance of various accounts, and future portfolio projections based on CAGR and Sharpe ratio.

Total funding raised: US$19 million
Investors: Chiratae Ventures, Stride Ventures, Desai Ventures, BackStroker
Annual revenue: US$3.6 million (as of December 31, 2021)

Us2.ai

It is an AI-powered tool to detect heart risk. The company’s flagship product, Echo Copilot, provides fully automated, real-time echo reports and disease detection, supporting healthcare professionals in interpreting echocardiograms.

Total funding raised: US$19 million
Investors: IHH Healthcare Berhad, HEAL Partners, Peak XV Partners, Pappas Capital, EDBI, Partech Partners, Sequoia Capital, SGInnovate, StartUp Health, Startup SG, A*STAR, Fabrice Grinda, EPRV, Startup Creasphere, XNode
Annual revenue: US$388,540

Geniebook

It is an AI and app-based platform offering adaptive learning solutions for students. The platform can identify a child’s weaknesses and generate targeted questions. It enables users to improve their learning speed by practising questions at their own pace. Additionally, it provides worksheets, live and recorded classes, and more. Its app is available for Android and iOS devices.

Total funding raised: US$18 million
Investors: Titan Capital, East Ventures, Lightspeed Venture Partners, Apricot Capital
Annual revenue: US$15 million (as of December 31, 2022)

Silot

It offers an AI-enabled banking software suite and merchant banking solutions. Its solutions include merchant onboarding, KYC, cross-channel banking, account opening, QR-based payments, and more. Its features included AI-directed targeted marketing campaigns, and AI-enabled loan underwriting tools.

Total funding raised: US$13.7 million
Investors: Arbor Ventures, Krungsri Finnovate, Sumitomo, SBI Investment, Eight Roads Ventures, Zhen Fund, NTUitive, The Venture Center, Central Capital Ventura, Plug and Play APAC
Annual revenue: US$467,000 (as of December 31, 2021)

D.id

It is a decentralised AI-based video creation platform. The platform enables users to create AI videos of digital people from a single image. It also offers an API for integrating generative AI capabilities into other products.

Also Read: Singapore surpasses US in AI investment: Study

Total funding raised: US$13 million
Investors: CMB International Capital, HashKey Capital, Qingsong Fund, GGV Capital, GSR Ventures, SNZ, Xin Family, SevenX
Annual revenue: Not available

Infinite Orbits

It provides AI-based in-orbit satellite services and systems. Its offerings include docking systems for satellite anchorage, and plug-and-play modules for autonomous satellite tracking and navigation. It offers services like orbit guidance and control, optical tracking for satellites and collision avoidance and satellite inspection services.

Total funding raised: US$12.9 million
Investors: Newfund, European Union, IRDI Capital Investissement, SpaceFounders
Annual revenue: US$1 million (as of February 29, 2020)

MY01

MY01 is a state-of-the-art medical device that helps detect Acute Compartment Syndrome (CS), a limb-threatening muscle condition, within 48 hours following trauma. It capitalises on a proven correlation between sustained increase in Intramuscular pressures and ACS for objective, early diagnosis. MY01 operationalises muscular pressure monitoring into a simple, accurate, single-use device.

Total funding raised: US$12.6 million
Investors: Antler, Invest Quebec, Fondaction, Desjardins, MEDTEQ, OBIO
Annual revenue: Not available

bluesheets

bluesheets is an AI-powered financial data automation solution. The financial automation platform for businesses connects and automates financial data across various platforms. It processes financial data both online and offline. The firm also offers solutions for expense management and data matching.

Total funding raised: US$12.5 million
Investors: Illuminate Financial, Insignia Ventures Partners, Antler, 1982 Ventures, Kistefos, Plug and Play Tech Center, Investible, kipleX
Annual revenue: Not available

WeInvest

A wealth management solution for financial institutions, WeInvest offers multiple solutions that enable financial institutions to manage investments and asset management processes. The company offers AI-based quantitative strategies, white-label UI, and APIs.

Funding raised: US$12.3 million
Investors: Schroders, DIFC, Acer, HCapital, Lighthouse Canton, SterlingForte, SterlingForte, Integrated Management Consulting Ltd, TH Capital, Rise Team, Plug and Play APAC, Ficus
Annual revenue: US$1.3 million (as of December 31, 2020)

Neuroglee Therapeutics

It offers AI-based therapy planning solutions for neurodegenerative diseases. The platform provides evidence-based precision therapeutics by combining cognitive rehabilitation strategies and machine-learning approaches to treat neurodegenerative diseases. The investigational prescription digital therapeutic developed on the platform can treat diseases with pharmacotherapy. The AI algorithms track the digital biomarkers and perform assessments for cognitive intervention.

Total funding raised: US$12.3 million
Investors: Openspace Ventures, EDBI, Eisai Innovation, 2050 Capital
Annual revenue: Not available

Smarten Spaces

Smarten Spaces provides AI-enabled asset and space management solutions. The company offers a suite of solutions for managing tenants, digital workspaces, co-working spaces, and co-living spaces.

Total funding raised: US$12 million
Investors: Symphony Asia Holdings, Capital Group Holdings
Annual revenue: US$1.1 million (as of March 31, 2021)

—

Courtesy: Tracxn

The post AI powerhouses: Unveiling Singapore’s top 30 funded innovators appeared first on e27.

Time in healthcare scenarios is instrumental for all sorts of reasons and will shape everything from the patient experience to the positivity of outcomes achieved by practitioners. For professionals, anything that can help them harness the time available to them more effectively is to be celebrated and adopted post-haste.

Artificial intelligence (AI) has a lot to offer in this regard, as it can conserve the precious resource that is time, while also elevating the quality of care through improved documentation practices.

With the all-encompassing influence of AI being discussed and dissected in many spheres right now, those who grasp its potential are poised for success. To prove this unequivocally, here are five ways AI tools are reshaping healthcare documentation—a change that goes hand-in-hand with an increased need for tech proficiency among medical professionals.

Providing precision in healthcare record-keeping

Accuracy is the most important aspect of effective patient care since a small error can lead to a cascade of misunderstandings, potentially altering treatment paths while compromising patient safety. There’s a lot of debate around this topic, and experts have found that around 1 out of every 20 patients is exposed to harm while in care, which could have been avoided. Artificial intelligence brings a meticulous eye to patient records that human fatigue may overlook, minimising the risks involved.

In particular, AI-driven documentation platforms analyse and cross-reference vast repositories of medical information with precision (and without needing a coffee break), ensuring that each entry in a patient’s record is both accurate and comprehensive. As part of this, they utilise natural language processing to capture nuances in diagnosis and treatment plans that might elude even the most scrupulous professional after a long shift.

So, in short, integrating AI into healthcare documentation workflows lets professionals secure an ally in the fight against unforced errors, ultimately steering patients toward better outcomes.

Reclaiming time for care

It’s been shown in an American Medical Association study that doctors dedicate almost 50 per cent of their working hours to paperwork, while 27 per cent is available to patients, and so AI medical scribes present an antidote to this imbalance, liberating clinicians from the shackles of eye-watering volumes of admin.

Also Read: Decoding digital preferences: A glimpse into the future of health tech ecosystem in SEA

These advanced tools don’t tire or falter as they meticulously document clinical visits, allowing doctors and nurses to focus their full attention on the person in front of them — the patient. Taking over routine data entry tasks allows AI to ensure that documentation is complete by the time the patient leaves the room, dramatically reducing after-hours charting.

This transition means that rather than spending late evenings or early mornings catching up on paperwork, healthcare professionals can reclaim those hours—pouring them back into direct patient care, continued education, or much-needed rest. The impact is both operationally beneficial and deeply personal for both the caregiver and receiver.

Trimming the fat from billing

In the US, administrative complexity is the leading cause of expended healthcare dollars, amounting to US$250 billion annually in a hospital context alone, according to McKinsey. One significant aspect of this complexity is medical billing and coding—a meticulous process burdened with an assortment of codes and ever-changing regulations.

AI steps into this quagmire as a streamliner, adept at navigating the intricacies of current procedural terminology (CPT) codes and International Classification of Diseases (ICD) standards with precision. Cutting-edge algorithms can identify relevant billing codes based on documented patient interactions, reducing errors and removing guesswork for healthcare providers. The end result is once again a more accurate billing process that accelerates reimbursements and decreases denials due to coding inaccuracies.

Moreover, AI doesn’t just recognise existing patterns—it learns from them. Continuously fed with data, these systems steadily improve their suggestions over time, honing the financial backbone of healthcare practices while professionals remain focused on clinical care rather than unpicking complex billing ciphers.

Optimising patient communication

Keeping communication channels clear and consistent is another integral part of the post-consultation phase. Poor follow-up practices can quickly escalate into adverse outcomes—a reality evidenced by a CRICO Strategies study indicating that a third of malpractice claims involved inadequate patient follow-ups or miscommunications.

Here, AI tools rise to the task of being an ally for closing communication gaps. They automate follow-up processes, schedule appointments, and send out reminders for both patients and providers. More so, they can personalise post-visit summaries and care instructions based on the unique details of each patient’s visit—which are often richer in detail thanks to the precision of AI documentation earlier in the process.

Also Read: What telemedicine and Health Tech holds across SEA amidst COVID-19

Employing such intelligent systems allows healthcare professionals to ensure no critical information falls through the cracks. Patients leave with clarity about their care plan and next steps, while practitioners have peace of mind, knowing that their communication is as effective as possible. AI thus not only enhances efficiency but also fortifies the trust between healthcare providers and those they serve by maintaining a consistent line of dialogue.

Safeguarding the sanctity of health data

Confidentiality is not merely a preference in healthcare; it’s a non-negotiable promise, underscored by the fact that cybersecurity breaches can cost up to US$9.48 million on average per incident.

AI offers a formidable defence against such threats. With advanced encryption algorithms and anomaly detection capabilities, AI systems are always on the lookout for suspicious activity without the need for constant manual hand-holding. They monitor access and usage patterns around the clock, flagging potential breaches before they escalate into crises.

Beyond its defensive role, AI contributes to confidentiality through controlled sharing mechanisms within electronic health records (EHRs), ensuring that only authorised personnel have access to specific layers of sensitive information. This discretion facilitates collaboration among medical teams while adhering strictly to privacy regulations.

The bottom line

The integration of AI in healthcare represents an inexorable shift towards a smarter, more efficient system. As AI continues to revolutionise documentation practices, the onus falls on healthcare professionals to adapt—an endeavour that necessitates advanced certifications and an enduring commitment to education.

Staying in the loop regarding technological advancements ensures that practitioners are not just keeping pace with innovation but leveraging it to enhance patient care. The marriage of medical expertise with AI acumen stands as a beacon for the future—a future where technology and human touch converge to redefine excellence in healthcare.

—

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 Boosting efficiency and care: How AI is transforming medical records appeared first on e27.