Last week, the Singapore government launched the updated National Artificial Intelligence Strategy (NAIS) 2.0, which lays out how the city-state plans to harness AI for the public good over the next three to five years. As part of this plan, Singapore aims to more than triple the number of AI practitioners here to 15,000 and establish an iconic site to nurture its AI community.

We spoke with Hamish Macalister, CEO of Transparently.AI, a solution for the early detection of accounting manipulation and fraud, to learn more about how NAIS 2.0 will transform the AI landscape in the city-state.

Below are the edited excerpts from the interview:

How do you view the Singapore government’s plans to redesign and scale up the AI Apprenticeship Programme to grow the AI talent pool in Singapore, and what role do you think the industry should play in this initiative?

We’ve previously identified talent as one of the challenges we might face, so this announcement is a huge positive for us and any other AI company in Singapore.

 The industry could play a role in helping identify specifically deficient areas, whether in skill or supply, that the government could support. A targeted approach, informed by those closest to the problem, is better regarding overall outcomes and resource allocation.

With the government aiming to attract global AI talent, how do you see establishing a dedicated team to engage world-class AI creators impacting the local ecosystem? What opportunities and challenges do you anticipate?

We think that bringing world-class AI talent into Singapore can substantially enrich the city’s AI industry, not just merely by their productive presence and involvement in national projects but also by the learnings they will be able to impart.

Also Read: AI will have more impact on our future than blockchain: Dusan Stojanovic

The challenge will be to ensure that homegrown talent is not overlooked in this endeavour. We support a system that benefits individuals on merit, not just because they’ve worked at Google Deepmind or OpenAI.

The government plans to intensify AI adoption across enterprises, focusing on manufacturing, financial services, transport, and logistics sectors. How do you envision AI transforming these industries, and what role can companies like yours play in this transformation?

These are all data-rich industries with systems that are most likely to benefit from efficiencies created by machine learning (ML). ML enables the creation of systems that can detect and instantly identify signals across millions of data points to prompt expedient opportunistic, ameliorative or punitive human action.

AI allows analysis that usually takes humans months to be conducted in seconds.

Our tech is right in this space. The Transparently.AI system is trained to detect accounting fraud and manipulation. We play a role in introducing mass efficiency and speed into forensic analysis. Anyone needing due diligence — from banks and asset managers to auditors and accountants — can benefit from our technology.

NAIS 2.0 represents a shift from flagship projects to a systems approach. In your opinion, how does this shift affect the AI landscape in Singapore, and what are the key challenges and opportunities it presents for AI companies?

This is a landmark shift. The government seeks to elevate AI in the national consciousness to a necessity rather than a “nice to have.” So, if you’re a Singaporean, AI is coming to your living room and workplace. The message here is clear: Be prepared and educate yourself so you’re not left behind.

The biggest challenge will be adoption. The automatic reaction will be fear: Is my job safe from the robots? That’s natural because AI applications can and do change the nature of some jobs.

In his speech on the NAIS announcement day, Singapore’s Deputy Prime Minister, Lawrence Wong, addressed the concern about a jobless future. He said the government is ready to invest heavily in adult education and training to reskill and upskill workers to harness AI effectively.

Also Read: Navigating the AI landscape in 2024: Why there is an urgency for enhanced governance

The government needs to pursue this agenda aggressively. The government and industry must do everything possible to win Singaporeans’ buy-in.

Is it worthwhile? Of course. Think of the efficiencies that an AI-powered workforce can generate. How much time and cost savings will it generate? There is potential for AI to level up economic output significantly. But we need to bring all Singaporeans along to enjoy the benefits.

The Deputy PM acknowledged the risks of AI, including deepfakes, scams, and cyberattacks. How should companies address these challenges, and what measures can be taken to ensure responsible AI development and deployment?

Bad actors will always seek to exploit new technologies for nefarious purposes. The enormous challenge for regulators will be keeping up with the pace of change. The open-source community is innovating at a pace that the largest technology firms struggle to keep up with.

For governments, this will prove to be an enormous challenge. Some regulation will be required. But this must be crafted extremely carefully to prevent the stifling of innovation. Regulators must work closely with industry to ensure the right balance is achieved.

Given the decentralised nature of AI, what are your thoughts on the government’s idea that governance for AI should ideally be global? How can Singapore contribute to global AI governance, and what challenges might arise in achieving international collaboration?

The technology is available globally. Hence, the concept of global regulation has logic. This won’t be easy to achieve. It is hard to foresee universal acceptance of those regulations.

Also Read: What will be the key trend in technology next year?

However, the government is proposing more than one system of overarching rules for the world. That would go against its “fit-for-purpose” philosophy. It aims to unite countries to shape the architecture for responsible AI growth.

The Deputy PM said the ideal is “enhanced interoperability between governance frameworks.” Our read is that the government is endorsing an architecture that pushes countries in the same direction but allows them the latitude to apply that framework in a local context.

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Are you a screen addict? If the answer is yes, you are certainly not alone.

In fact, according to a report by Nielson, the average US adult spends a whopping 10 and a half hours consuming digital media per day. Gen Zs suffer the most – reportedly checking their phones on average 79 times per day, with 80 per cent living in fear that someone may actually ring them.

Today’s young adults also experience high rates of anxiety and depression, which one American study could directly link to the use of multiple social media platforms. Such compulsive, damaging behaviour, which would normally merit a stay in rehab, has instead become so normalised that those who don’t follow suit are in the minority. 

However, a digital world is not without its benefits. Zoom, for example, was invaluable during the COVID-19 pandemic, allowing us to stay connected during what felt like armageddon to many. The real issue is that tech usage has now become so widespread in our society that human interaction in our post-lockdown world is suffering as a result. 

One need only look to self-service checkouts to realise that face-to-face contact with other humans is slowly being removed from our daily activities. Even the hospitality industry, once known for its customer service,  is jumping on the bandwagon, with Airbnb and other hotel conglomerates now offering self-check-in options.

Needless to say, we are living more comfortable and efficient lives than ever before, but how will such reduced human connection shape our future? 

Researching this piece brings my grandma to mind, whose weekly coffee mornings with friends and choir rehearsals bring her great pleasure. However, she is the exception and not the rule.

Many retired people see their social circles shrink to a point whereby ‘transactional’ interactions, i.e. talking to a shop cashier, are the only human communication they get during a week. As technology removes the need for such professions, slowly isolating the elderly and increasing loneliness, it is also impinging upon society’s willingness to care.  

Also Read: Real-World Assets meet virtual realms: A game-changer for global trade

This is because when we communicate online, our brains don’t receive the neural signals necessary to feel empathy. “Little by little, this sort of shallow interaction chips away at our empathic capacities,” according to Dr. Helen Riess’ new book, The Empathy Effect: 7 Neuroscience-Based Keys for Transforming the Way We Live, Love, Work, and Connect Across Differences. 

Such desensitisation to human emotion has only been exacerbated by the rise of 24/7 rolling news. As more and more tragedies are live-streamed, our first instinct in some cases is no longer to save lives but to gain social media engagement, as demonstrated in London when bystanders took selfies as a man drowned. 

The good news is that emerging immersive technology, such as Extended Reality (XR), is proving invaluable in helping society adapt to the new social norms of the digital era.

Take the previous example. Desensitisation is often an occupational hazard for Health Care Professionals (HCPs) too, who come face to face with human suffering on a daily basis. Yet, an empathetic approach to patients remains essential for optimal clinical results.

French startup VirtualiSurg and Dräger are tackling just that with their new empathy training programme for medical professionals in fully immersive Extended Reality, designed to improve bedside manners when caring for parents of premature babies.

Healthcare professionals are trained to adopt more empathetic approaches during these traumatic and stressful periods for the parents and are able to boost their proficiency in these invaluable soft skills entirely from a virtual environment.

And the benefits of immersive tech are being felt by all ages.  For example, Virtual Reality (VR)  has been introduced into treatment plans for the elderly and those suffering from cognitive impairments, offering multi-sensory experiences and a sense of escapism hard to come by due to physical restraints. For those suffering from neurocognitive disorders (NCDs), including Alzheimer’s, VR was proven to effectively improve cognition as well as psychological symptoms, such as anxiety.  

Also Read: Metaverse companies must beware the poisoned chalice of web

Its tangible impact also extends to mental health research and practice. VR is already being harnessed by companies, such as C2C Care, to treat anxiety-related conditions, including addiction and eating disorders.

Their approach sees patients undergo repeated immersion therapy based on Cognitive-Behavioural Therapy (CBT) principles, whereby they are exposed to highly controlled, real-life triggers of their condition within a virtual 3D space and taught healthier coping mechanisms for the future.

Data tracking of behaviours within these VR experiences can then reveal important characteristics of mental health conditions and inform more accurate assessments and tailored treatments. 

These are just a few of the ways in which immersive tech is already positively transforming our world, and the revolution is set to continue as the sector grows exponentially.

So, as Generation Alpha begins to dip its toes into the digital world, let’s remind them that technology can absolutely be a friend, not a foe, as long as it is used to enhance, and not replace, our human connections. 

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Seraya Partners, an independent private equity (PE) fund for next-generation infrastructure investing based in Singapore, has closed its first fund at US$800 million, surpassing its original US$750M target.

Also Read: Circulate Capital makes final close of US$76M fund to advance circular economy for plastics

The Asia-based and focused Seraya Partners Fund I has commitments from global institutional investors, including sovereign wealth funds, pension funds, insurers, and family offices across North America, Europe, and Asia-Pacific. The LPs include the Asian Infrastructure Investment Bank (AIIB), Alberta Investment Management Company (AIMCo), and funds and accounts managed by Blackrock.

The team will continue focusing on building its existing platforms and identifying new investment opportunities in Fund I.

“Asia’s rapidly expanding cities, intensifying climate change, and ageing infrastructure have created a pressing need to address the region’s burgeoning trillion-dollar infrastructure gap. Energy transition and digital infrastructure will be the twin engines to bridge this gap and lead us toward net-zero ambitions,” said James Chern, Managing Partner and CIO of Seraya Partners.

Also Read: Balancing revenue, impact remains the top challenges faced by social impact startups

Seraya Partners targets control-oriented, middle-market platform investments in next-generation infrastructure, focusing on the digital infrastructure and energy transition sectors, primarily within the developed and Southeast Asia regions. The mid-market-focused fund aims to bolster the region’s transition to net zero and accelerate the adoption of clean, sustainable energy.

Seraya has offices in Singapore, Taipei, Seoul, Tokyo, and Denmark.

It has already invested in three platforms:

Empyrion DC: A green data centre operator. Empyrion develops and operates highly energy-efficient hyperscale and colocation data centres and employs renewable energy to power its data centres. Empyrion operates and develops projects across multiple markets, including North and Southeast Asia.

Cyan Renewables: A pure-play offshore wind farm vessel operator in Asia that owns and leases specialised vessels to support all phases of offshore wind farm projects, from installation to operations. In July 2023, Cyan acquired its first ship in a deal with Belgium’s DEME, including a long-term charter with turbine maker Siemens Gamesa for work offshore Belgium. The platform looks to address the severe shortage of vessels serving offshore wind farms. Cyan aims to own and operate a $1 billion portfolio of vessels by the end of 2025.

Astrid Renew: It develops cutting-edge solar, wind, and energy storage solutions in partnership with multinational corporates committed to RE 100 goals, as well as local power utilities and regulators.

According to the Asian Development Bank (ADB), approximately US$1.7 trillion will have to be invested annually in infrastructure across Asia through 2030 to meet current demand.

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Alterno, Forte Biotech, and AirX Carbon won the inaugural Net Zero Challenge 2023, a climate innovations competition in Vietnam by Touchstone Partners and Temasek Foundation.

Alterno, which produces low-cost thermal energy storage using sand-based batteries, won the Renewables and Carbon Removal track.

Forte Biotech, a producer of onsite RAPID diagnostic tests for early detection of prawn diseases, is the winner of the Food Systems & Sustainable Agriculture track.

Also Read: What the SEA startup ecosystem needs to know about COP28

AirX Carbon, which produces cost-comparable fossil-based plastic replacement from biowaste, is the Circular Economy & Waste Management track winner.

The three companies will receive a total of VND 15 billion (US$630,000) in grants from the Net Zero Challenge, which will be used to pilot their climate innovation in Vietnam. Two additional investment prizes of US$50,000, each from Touchstone Partners and East Ventures, have been awarded to AirX Carbon and Alterno.

All nine finalists can also receive up to US$90,000 in cloud credits from Amazon Web Services.

Net Zero Challenge 2023 provides opportunities for climate innovators to showcase their sustainable innovations in addressing ecological challenges and mitigating the impacts of climate change.

Since its launch on 21 August this year, the Net Zero Challenge has received over 300 applications from 45 countries within a seven-week period. Over 30 per cent of the application pool were from teams outside of Vietnam.

Also Read: Startup Genome: Singapore remains top startup ecosystem for clean tech, blue economy

Nine finalists were shortlisted and underwent three weeks of mentoring sessions, communications coaching, and collaboration with potential local pilot partners. Touchstone Partners provided localised mentorship and support in facilitating strategic partnerships in Vietnam.

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As part of its expansion into the Southeast Asian (SEA) region, the social media platform Bondee highlights the important role played by its use of augmented reality (AR) technology in user-generated content (UGC).

The development of this feature begins with the team’s realisation that many smartphone users still view the use of AR in smartphones as a “mere gimmick” with limited positive experience in using them. This inspired Bondee to develop an AR feature that adds a new dimension to the technology being used.

“The Bondee product has evolved greatly in the last few months, as we see trends in AR that speak to its great potential in allowing users to express their creativity. Bondee has made major changes to the product, adding new AR features that align with our vision to bridge users’ virtual and real-world experiences,” explains Zizheng Lyu, Senior Engineer at Bondee, in an email interview with e27.

Lyu says how the platform incorporates AR has enabled a “whole new level of engagement.”

“For example, you can put your avatar near a food centre, recommending the dessert stall there. This will give other Bondee users tips as they discover the world around them, and they can also respond to you, thanking you for the tip or even disagree with your recommendation,” he explains.

“And unlike games or shopping apps, where AR objects are the same for everyone, we worked hard to create a unique AR experience for every user. The clothing you pick out for your avatar and the accessories your avatar has on are all reflected in the AR object actually put out at the location.”

Also Read: How Augmented Reality is offering new opportunities to broadcast businesses services globally

Bondee has already included this new AR feature–called BON–in its app’s latest version. It has been beta-tested in Singapore and Thailand; the company said it has received positive user feedback.

“In Singapore and Thailand, we tested out our AR features with university students. Not only did they really like the new features, they also suggested creative ideas. For example, they recommended that items found in Bondee Space (a virtual room you can decorate) and message bottles found in Floating (a relaxing feature where you sail on a boat) can be put in the real world through AR,” Lyu says.

“Specifically, the National University of Singapore’s 90 Degree Drama Club used Bondee to promote their production. Students in the drama club used the BON AR feature to showcase daily snippets of life in the club, update behind-the-scenes footage, share interesting stories, and find other like-minded students.”

When asked about the secret behind the success of this app and its use of AR, Lyu shares three key points:

Online to offline integration
“Bondee has combined AR and social media, encouraging everyone to experience offline, real-world scenarios. This means exploring and interacting with friends in the real world instead of doing so online at home.”

Express themselves through AR Avatar
“Even before we started using AR in Bondee, we have been super focused on giving users a platform to express their individuality through customisation. Aside from dressing up their avatars, the Space feature lets anyone create their own dream room in Bondee.”

Creativity
“The combinations of furniture, toys, paintings, just to name a few, make the experience fresh every time, whether you are decorating your own Space or visiting a friend’s. As I work on the technical aspects of Bondee, every one of us have to keep in mind that this expression of individuality is core to the Bondee experience.”

Also Read: Beyond gaming, these are 6 potentially disruptive uses of augmented reality

What is next for Bondee

Bondee entered the highly competitive social media space and became a big hit earlier this year as social media users looked for an alternative to existing platforms such as Facebook and X (Twitter).

Following up on its initial success, Bondee made a significant milestone this year by appointing Singapore-based CEO Fei Yu. The company is also expanding its team and already has a presence in Seoul, Tokyo, and Beijing, with colleagues working remotely in Bangkok, Jakarta and Taipei.

“Our team is still growing, with more technical team members expected to come on board in the next few months,” Lyu says.

He also shares what is coming up from Bondee from a product perspective: The team wants to ensure that the new features introduced this year meet the expectations of users.

“We have only released the new AR features in limited markets so far and are looking forward to a wider release in the coming year. This also means we need to optimise the experience for all these other markets aside from Singapore and Thailand so far,” Lyu says.

“We want our new AR features to really help users explore the real world, and find enjoyment by discovering experiences that merge their virtual and offline worlds.”

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Image Credit: Bondee

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With the world’s constantly growing needs, startups play a crucial role not only in unlocking avenues for growth and expansion but also in driving meaningful societal impact. While the traditional focus of startups has been on disrupting industries and capturing markets, an increasing awareness of social and environmental challenges has prompted a shift towards a more conscientious approach.

Startups have the agility and innovative spirit to address pressing global issues, such as climate change, inequality, and healthcare access. By embedding a sense of purpose into their business models, startups can align their growth strategies with solutions that have a positive impact on communities, the environment, and beyond.

Furthermore, the pursuit of impact is not merely a philanthropic gesture but a strategic imperative for startups looking to thrive in the long term. Consumers and investors are increasingly valuing socially responsible businesses, and startups that integrate sustainable and ethical practices into their core operations are better positioned to attract support and loyalty.

Also read: Qarbotech named winner of inaugural EQT Impact Challenge

Chris Marchant, CEO of Vitasoy International Singapore, explained, “We found there are two main reasons why we should be considering sustainability. The first one is that it’s what our consumers are looking for. The world is changing. People are looking to do the right thing for the environment. And the second one is thinking about the bottom line. A lot of these sustainability initiatives will actually improve your profit. At Vitasoy International Singapore, for example, we’ve been able to reduce our utility usage and our water usage in a lot of these areas. So, do the right thing and also be able to save money while you do it.”

This dual commitment to growth and impact not only helps startups build resilience in the face of societal challenges but also creates a positive feedback loop where success is measured not only by financial metrics but also by the positive change the business brings to the world. In essence, startups are uniquely positioned to be both drivers of economic prosperity and catalysts for positive change, embodying the potential for businesses to be a force for good in the global community.

Bridging the knowledge gap with DBS

In collaboration with the Centre for Impact Investing and Practices (CIIP), DBS Foundation, and e27, the DBS BusinessClass foundED event was hosted by DBS Singapore in October 2023. This inspirational forum celebrates modern-day founders and encourages innovation for the next generation of social entrepreneurs. It offered a unique opportunity for founders to connect with fellow innovators, industry experts, and like-minded individuals to share ideas, form new partnerships, and expand their network. In line with the theme of advancing startups for impact, this event served as a platform where startups can gain valuable insights on how they can take their business ventures to the next level while creating an impact on society.

The event welcomed esteemed speakers from CIIP, GovTech Singapore, Temasek, and Vitasoy International Singapore to discuss trends, opportunities, and support available for businesses with impact. The panel of experts shed light on how organisations are helping to create a more sustainable future by promoting responsible investments, leveraging technology as an enabler of social change, and providing financial assistance to startups that prioritise positive environmental or social outcomes. It was truly inspiring to hear about the various initiatives being taken by these organisations to foster meaningful progress within the wider community

Also read: Carousell partners with YEAP to address challenges in e-waste

“This is our inaugural foundED event in Singapore and we are pleased to gather many startups today to celebrate the spirit of innovation and entrepreneurship,” shared Koh Kar Siong, Group Head for Corporate and SME Banking, Institutional Banking Group at DBS. He added, “With the theme of advancing startups for impact for this event, it also reinforces our key focus at DBS in supporting our clients to drive not only growth and transformation but also positive impact.”

Here’s a glimpse of the event:

Supporting sustainable growth through access to resources

Fortunately, businesses of all sizes now have access to a variety of resources that can help them reach their sustainability goals and empower their entrepreneurship journey. In supporting businesses, DBS has curated a full suite of resources available under DBS BusinessClass with insights, trends, and tools.

Social enterprises and SMEs in particular benefit from specialised programmes and initiatives designed to support sustainable growth. These include government grants, training courses, advisory services, networking events and more — all designed to provide the necessary support for organisations looking to become more eco-friendly while achieving long-term success.

Also read: Unlock growth potential with the latest insights on Gen-AI

For instance, one particularly helpful resource that social enterprises and SMEs can tap into is the Business For Impact Banking Package offered by DBS to support businesses for impact by providing a range of financing solutions, funding programs and knowledge sharing. With holistic assistance, businesses can focus all their resources on sustainability and innovation causes.

Find out more about DBS’ sustainability initiatives and financing options here.

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

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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AI’s rapid growth will shape tech in the coming year. AI is changing healthcare, banking, transportation, and retail. As technology advances rapidly, AI will drive innovation and change how we live, work, and interact with machines. From smart houses to driverless vehicles, AI will change our lives, making it the most important tech trend of the future.

AI is crucial to many businesses. Improved diagnostics and treatment strategies could transform healthcare and boost efficiency. In finance, AI can forecast and optimise investment plans using massive data sets. AI-powered chatbots and virtual assistants also improve retail customer service by personalising and answering questions promptly. AI’s numerous applications are altering industries and advancing them technologically.

In the coming year, AI’s influence is projected to grow. AI is expected to transform healthcare, banking, and manufacturing with advances in machine learning and deep learning.

Its potential to automate jobs, improve decision-making, and improve consumer experiences will make organisations more efficient and competitive. AI has limitless potential for innovation and expansion, making it an exciting future prospect.

Definition and explanation of the key trend

AI, which simulates human intelligence in robots that think and learn like people, is the main trend. AI lets machines do speech recognition, problem-solving, and decision-making. Intelligent machines that analyse data, react to new information, and generate predictions or suggestions are the basis of this technology.

AI is currently shaping the tech world by revolutionising various industries. It has enabled the development of self-driving cars, which can navigate and make decisions on the road without human intervention.

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

AI algorithms are also being used in healthcare to analyse large amounts of patient data and provide accurate diagnoses. Additionally, AI-powered virtual assistants like Siri and Alexa have become ubiquitous, making it easier for users to interact with their devices and access information quickly.

Overall, AI is transforming the way we live and work, opening up new possibilities and improving efficiency in numerous sectors.

DeepMind at Google is using AI to diagnose eye and breast cancer. Another example is IBM’s Watson, which can analyse massive amounts of medical data and offer individualised treatments. Amazon and Netflix also use AI algorithms to recommend products and content based on customer preferences and browsing history. These real-world applications show AI’s tremendous industrial potential.

Anticipated influence on the tech industry in the coming year

The anticipated influence of AI on the tech industry in the coming year is expected to bring about significant market disruption. AI technologies are becoming more advanced and accessible, allowing smaller companies to compete with industry giants.

This is causing a shift in market dynamics, where new players with innovative AI-driven solutions are able to challenge established companies and disrupt traditional business models. As AI continues to evolve and mature, we can expect to see further market disruptions across various sectors, forcing companies to adapt and embrace AI in order to stay competitive.

The key trend of AI-driven solutions is expected to disrupt traditional markets by creating a level playing field for smaller companies. With the advancements in AI technology, these companies can now develop innovative solutions that are on par with those offered by industry giants.

This shift in market dynamics challenges the dominance of established companies and their traditional business models. As a result, we can anticipate increased competition, greater innovation, and a need for established companies to adapt and embrace AI in order to maintain their competitiveness in the market.

The rise of AI has lowered the barriers to entry in many industries, allowing new players to emerge and disrupt the market. Startups and small businesses now have the opportunity to leverage AI technologies and compete against established companies, creating a more dynamic and competitive landscape.

Additionally, existing companies must adapt their business models to incorporate AI and stay ahead of the curve. This will require them to invest in AI research and development, hire skilled AI professionals, and restructure their operations to utilise the potential of AI fully.

Overall, the emergence of AI presents both opportunities and challenges for businesses of all sizes, forcing them to constantly innovate and evolve in order to survive and thrive in the market.

Also Read: AI will have more impact on our future than blockchain: Dusan Stojanovic

The impact of AI on customer behaviour and expectations cannot be overlooked. With the integration of AI technology, customers have come to expect personalised experiences, faster response times, and more efficient problem-solving.

AI-powered chatbots and virtual assistants have become increasingly popular, providing customers with 24/7 support and instant solutions. Businesses that fail to meet these evolving expectations may risk losing customers to competitors who have successfully implemented AI into their operations.

Therefore, understanding and adapting to the changing customer behaviour and expectations driven by AI is crucial for businesses to maintain a competitive edge.

Technological advancements

The key trend of AI-driven customer expectations will drive technological advancements in various areas. For instance, businesses must invest in advanced AI algorithms and machine learning technologies to provide personalised customer experiences and predictive analytics.

Additionally, there will be an increased emphasis on developing and integrating chatbot systems that can handle complex customer inquiries more efficiently.

Moreover, AI will also push for advancements in natural language processing and voice recognition technologies to enhance customer interactions through voice assistants and virtual agents.

These advancements in AI technology could potentially lead to breakthroughs and innovations, such as highly intelligent and adaptive chatbots that can engage in realistic and meaningful conversations with customers.

With improved natural language processing and voice recognition capabilities, customers may experience more seamless and personalised interactions with voice assistants and virtual agents. In the tech industry, these developments could have implications across various sectors, such as customer service, e-commerce, healthcare, and finance, where AI-powered chatbots can greatly enhance user experiences and streamline processes.

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

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

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Indonesia-based healthtech startup Klinik Pintar has secured US$5 million in an oversubscribed Series A extension funding round led by Altara Ventures.

Infocom, Golden Gate Ventures, Skystar Capital, and Venturra participated.

With the new funds, Klinik Pintar aims to expand its network and product offerings. 

Founded by serial entrepreneur Harya Bimo in 2018, Klinik Pintar employs technology to integrate clinics into a holistic health ecosystem, providing a broad array of healthcare services such as doctor consultations, nursing, medicine, laboratory tests, and vaccinations for all ages. These services are available through walk-ins, virtual clinics via teleconsultation, and home services.

Also Read: Healthtech data: The race for new oil in Southeast Asia

Its software platform, Aplikasi Klinik Pintar (AKP), is connected to Indonesia’s Ministry of Health (SatuSehat), the National Health Insurance program (PCare BPJS), and private insurance networks. 

As of November 2023, Klinik Pintar operates 22 tech-enabled clinics in Greater Jakarta and provides clinic management software, accreditation, and training to over 1,500 third-party clinics across Indonesia.

The company plans to expand into corporate care. It has launched over a dozen on-site clinics with a leading local automotive manufacturer; more are in the works. The firm is also in the process of launching a second neurology specialist clinic in Greater Jakarta.

Klinik Pintar claims that its technology is used by over five per cent of all clinics in the country, reflecting a more than threefold increase in network size since the start of 2023.

Indonesia holds a US$68 billion annual healthcare market for its 280 million residents, yet the ratio of doctors per 1,000 population is 0.5, compared to Singapore’s 2.5. Klinik Pintar addresses this need by leveraging digital health technology to improve accessibility and enhance medical outcomes.

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Image credit: Klinik Pintar

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In the dynamic landscape of the e27 community, diverse voices contribute to shaping the discourse on emerging technologies and innovation. As we showcase the top 10 contributors, their insights cover a range of industries, displaying the diverse ideas within the community.

Kailash Madan

Madan serves as the Global Head of Sales at Primer. With extensive experience facilitating streamlined and integrated commerce for traditional and internet-first enterprises in the Asia Pacific region, he shares insights across e-commerce, fintech, digital payments, and beyond.

“The payments industry has witnessed transformative growth through 2023, and we should expect it to continue to move towards more open and scalable models as businesses demand greater flexibility in their payments stack and consumer experience. We will see even more collaboration across infrastructures, providers, merchants, and systems.

We will also see the continued expansion of AI applications in payments, as well as the continued growth of embedded payments and the rise of contextual commerce, as e-commerce becomes an activity that people want to have at their fingertips, embedded into their everyday activities. The importance of payments will continue to be recognised across businesses, as all business functions — from marketing to engineering and finance — recognise payments as an opportunity to grow the business and build customer loyalty.”

Luke Fitzpatrick

Fitzpatrick, a contributor since 2018, has authored seven articles this year. With 45,000 content views in total, his writing primarily focuses on emerging tech and Web3. He is a guest lecturer at Sydney University, lecturing in cross-cultural management and the Pre-MBA Programme.

Pierrick Bouffaron

As a CXO and financier, Bouffaron has been operating at the tech-innovation interface across the US, Europe, and Asia Pacific since the 2010s. Presently the Director of Development and New Ventures at the National University of Singapore (NUS), his focus areas encompass education, energy and climate, fintech and crypto, and economics.

This year, he has published four articles and allocated considerable time to aiding early-stage tech founders where feasible.

Also Read: Navigating the AI landscape in 2024: Why there is an urgency for enhanced governance

Antoine Martin

Martin is a business coach and entrepreneur who co-founded Impactified, an online coaching and self-coaching platform. He is known for assisting entrepreneurs in developing improved business models, focusing on creating a meaningful impact.

“As far as I’m concerned and based on what I see, a key trend shaping the tech world in the coming year(s) will be the humanisation of the user experience beyond just tech. Companies I work with are shifting their pitches from pure tech to experience because selling tech does not create value for the consumers.

Take OpenAI, for instance — the massive success of ChatGPT does not just come from their AI capacity-building. It comes from their talent in making the AI experience palpable and approachable for people. Look also at crypto, ICO, and NFT trends over the past years- they all went up quickly, but they were also replaced by other trends very rapidly because normal people could not interact; hence, they turned into buzzwords.

Said differently, the stake for tech businesses in the next year will be to scale their business models and organisations outside of AI and tech buzzwords by creating real value propositions people can recognise (and buy!) because they can experience them. Those who can do that will be different!”

Nick Abbatiello

As a Senior Distinguished Engineer at Dell Technologies, Abbatiello focuses on implementing solutions for Dell’s 2030 sustainability goals, particularly in the Circular Economy. Passionate about advancing sustainability in material and process development, he wrote an article for our Contributor Programme, highlighting the impact of sustainable design on tackling e-waste through responsible product lifecycles and recycling for a greener future.

Velid Begovic

Begovic serves as the Vice President of Revenue APAC at Infobip and aims to steer Infobip’s business teams toward constructing a diverse range of customer experiences and engagements across the APAC region. This year, he extensively explored the potential of conversational commerce in the Asia Pacific region through his articles.

Bernadetta Septarini

Septarini is the Content and Social Media Marketer at ArmourZero, a B2B SaaS company. She loves creating creative and analytical content while gaining cybersecurity experience and always looks for new ways to grow and improve.

“As AI gets sharper, so do cyber threats. Get ready! Using AI isn’t a choice — it’s a game-changer. Success is in mixing machine smarts with human creativity, making a powerful team against tricky digital bad guys.”

Also Read: Startups in SEA secure millions in funding this week, redefining industries

David Isaac Mathews

Mathews is currently involved in the digital transformation of innovation and corporate venture building at Causality Co, a group of businesses specialising in building and launching digital ventures, as well as providing pre-testing services for product-market fit.

“Companies are facing a pivotal decision in their growth strategies. There will be pressure on more deeply defining positioning and value for more segmented audiences to achieve more cost-effective growth when balancing between product-led and sales-led approaches. This is particularly true for companies outside their industry’s top 20 per cent.

To be competitive, the design of more finely-tuned customer experiences will require this more explicit strategy and positioning to optimise product development investment and go-to-market investment. The goal should be improving at the end of the funnel to improve retention for better customer lifetime value. This will require deeper alignment and real-time data-guided collaboration between the Chief Marketing Officer and Chief Product Officer to execute the strategy set by the C-Suite.

Both roles must align on where the most significant marginal impact will come from across:

• Product journey
• Marketing funnel
• Sales motion.

Ultimately, companies that can effectively define and execute this shared strategy will be better positioned to grow market share more reliably.”

Henry Ly

Ly, CTO and Co-Founder at Adamo Software, believes in technology’s pivotal role in shaping the future. With extensive experience in project and strategic management, he aspires to contribute to products that enhance lives, having been fortunate to be part of ventures in environmental improvement, e-commerce, travel and hospitality.

Yiqing Wang

Wang, the Program Associate at StartupX, is dedicated to exploring and promoting ideas in the business world, with a particular focus on sustainability, startups, and technology. She authored a three-part article series titled Life in Plastic, it’s not Fantastic, delving into the causes and solutions for a sustainable green future.

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China’s entertainment giant TikTok is set to invest US$1.5 billion to secure a controlling stake in Tokopedia, the e-commerce arm of Indonesia’s GoTo Group.

Under the terms of the agreement, TikTok will acquire a 75.01 per cent stake in Tokopedia, Indonesia’s largest e-commerce platform, for US$840 million. Additionally, TikTok Shop’s Indonesian operations will be integrated into the expanded Tokopedia unit.

This move comes as TikTok aims to revive its online shopping services, which were halted by regulators in Indonesia following a ban on social media-based online shopping to safeguard smaller merchants and user data.

Also Read: Merchants selling via TikTok could be harming Indonesian economy: AC Ventures

The Chinese tech giant’s problems started when President Joko Widodo called for stricter social media regulations in October this year, saying that the influx of such platforms has contributed to declining domestic business sales by flooding the market with foreign imports. Trade Minister Zulkifli Hasan also said firms that do not comply with the ban on goods transactions would first be warned and then lose their license to operate in Indonesia if they fail to comply.

Following the ban, TikTok was compelled to shut down the e-commerce platform. Despite challenges, TikTok Shop had been introduced earlier in the year in the country, targeting the vast user base to compete with rapidly growing online retailers like Shein and PDD Holdings’ Temu, whose presence on TikTok had contributed to their swift expansion.

In a joint statement, the two companies outlined that the strategic partnership would initiate a pilot period, conducted in close consultation with and supervision by relevant regulators. The move reflects TikTok’s strategic manoeuvring to navigate regulatory challenges and reestablish its foothold in the Indonesian e-commerce landscape.

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