World Business Outlook - Issue 6

Managing Director

Shankar Shivaprasad

Co-founder & CEO

Shashank M

Chief Editor

Ujal Nair

Assistant Editor

Kevin Thomas

Laura Edwards

Head of Operation

James

Head of Production

Tom Hanks

Head of Research

Catherine D’Souza

Head of Media Sales

John Smith

Advertising Contact

Info@wboutlook.com

Content Managers

Sathya Narayana B

Amith Raj

Laura Edwards

Madhulika Pandey

Graphic Designer

Chandan R

Video Editor

Nelson Caitan

Accounts Manager

Steve Smith

Office Address

32 Pekin St #05-01

Singapore 048762

Phone: +65 86159608

............. Note From EDITORIAL

Ideal Wealth Generation Model, the AI way

With Artificial Intelligence becoming the biggest buzzword in the first half of 2023, the real spectacle comes from the little-known tech companies that have made real strides in the development of Artificial Intelligence. Keeping with the trend, there is a lot of attention going towards highpotential startups in Africa.

Startup Entrepreneurs in Africa are currently enjoying a huge influx of funds flowing in for AI, blockchain, cybersecurity, education and entertainment sectors. Banks have joined in the march towards a new disruption powered by AI. This involves the incorporation of AI tech in customer support, online security, wealth management and trading. Speaking of trading, in this magazine issue, you will read about the upcoming innovations in trading bots, especially for cryptocurrencies.

Artificial Intelligence has definitely upped the ante in the wealth management business with its incorporation in the Real Estate sector as well. AI is not only helping the developers, but also investors and buyers through predictive maintenance, site selection, property management, and building design. Home automation, market analysis, marketing tools and property assessment are some of the conveniences offered by AI tools in Real Estate.

On the cover, we have featured, Ngoc Tran, the Director of Investment Banking Services of VPS Securities (JSC). VPS is a 16-year-old joint stock company from Hanoi, Vietnam that recently reported 8,668,574,641,204 VND in revenue from 2022. Thus, earning them the title for ‘Best Investment Bank in Vietnam 2023’. Flip through to read the most comprehensive coverage of one of the fastest-growing banks from one of the fastestgrowing economies in Asia.

We would also like to remind you about the nominations for our Annual Awards Ceremony that will be held at Marriott Marquis, Bangkok, Thailand on November 25. Don’t miss this opportunity to meet our highprofile award winners in person.

COVER STORY

Vietnam is the Next Foreign Investment Powerhouse in Asia:

- NGOC TRAN of VPS Securities

Startup Boom in Africa

The startup landscape of Africa has flourished massively in recent years. With a young and rapidly growing population, combined with advances in technology and mobile connectivity, the continent has become an attractive destination for entrepreneurs and investors alike. In this blog post, we will explore the current trends and happenings in the startup sector in Africa.

Why Africa?

Over 1.3 billion people live in Africa, and by 2050, that number is predicted to treble. In order to meet the demands of a growing population, this represents a tremendous market opportunity for startups. One of the key drivers of the start-up boom in Africa is the growing number of tech-savvy young people on the continent. In addition, Africa has the youngest population in the world, according to the UN, with over 60% of the population under the age of 25. This youthful demographic presents a

Africa’s startup ecosystem

The African startup ecosystem is still in its early stages but has grown significantly over the past decade. African entrepreneurs raised $2.3 billion in funding in 2020, a 25% increase year over year, according to a Partech Ventures report. The majority of this funding went to startups in fintech, e-commerce, logistics, and healthcare.

An increasing number of entrepreneurs and investors are recognizing the potential for growth and innovation on the continent. As a result, Africa is now home to some of the world’s most exciting and promising start-ups, in a range of sectors including fintech, agritech, and healthcare.

Currently, there is a growing number of African startups focusing on artificial intelligence, blockchain, and cybersecurity in addition to education and entertainment.

The expansion of finance and assistance for entrepreneurs in Africa is another factor fueling the start-up boom. Incubators, accelerators, and venture capitalists have played a crucial role in the growth of the African startup ecosystem. Over the past decade, a growing number of venture capital firms and impact investors have begun to invest in African start-ups, recognizing the potential for high returns and positive social impact. These

massive potential consumer base for startups.

Moreover, Africa has experienced rapid advancement in technology, particularly in mobile connectivity. According to the GSMA, Africa has over 800 million mobile subscribers, representing a 73% penetration rate. This makes Africa an ideal destination for startups offering mobile-based solutions.

organizations provide much-needed support, mentorship, and funding to startups to help them grow and scale.

This influx of funding has helped to fuel the growth of African start-ups, enabling them to develop and scale their businesses more quickly than ever before. In addition, many African governments have also launched initiatives to support entrepreneurship, offering tax incentives, grants, and other forms of support to start-ups and small businesses.

The African start-up ecosystem is also benefiting from the growing availability of technology and infrastructure. As mobile and internet penetration rates continue to rise across the continent, more and more people are gaining access to the tools and resources they need to start and grow businesses.

In addition, the rise of co-working spaces and incubators across Africa has provided entrepreneurs with a supportive environment in which to collaborate, learn, and grow. These spaces offer everything from mentorship and networking opportunities to access to funding and resources, helping to build a strong and thriving start-up community across the continent.

The Rise of the African startup ecosystem

In 2016, Africa welcomed its first unicorn, ‘Jumia’, a Nigerian-based e-commerce startup. A startup that has received a valuation of at least $1 billion is referred to as a ‘unicorn’. Jumia operates in 11 African countries and was valued at $1 billion after its IPO in 2019.

Another notable fact is the growth of African fintech startups. According to a report by Disrupt Africa, African fintech startups had raised over $160

million in funding in 2020, significantly more than any other sector.

African startups have also created groundbreaking solutions to some of the most critical problems plaguing the continent. For example, Kenyan startup ‘Apollo Agriculture’ provides smallholder farmers with access to credit, highquality farming products, and customized advice on farming practices.

What are some of the most popular startups in Africa right now?

In the fintech sector, companies like Flutterwave and Paystack are revolutionizing the way people send and receive money across borders, while in the agritech sector, companies like Twiga Foods are using technology to improve the efficiency and transparency of food supply chains.

In the healthcare sector, start-ups like MDaaS Global are providing affordable, high-quality medical services to underserved communities, while in the education sector, companies like Andela are helping to bridge the skills gap by training and hiring local software developers.

The Africa Green Tech Foundation, a Kenyanbased startup, has developed a bamboo bicycle to reduce carbon emissions and promote sustainable transportation.

In February 2023, the Egyptian Fintech firm MNTHalan announced a $400 million investment that would make it the first unicorn in Africa and Egypt in 2023.

Challenges Facing African Startups

African startups continue to confront substantial obstacles despite these optimistic trends. The hurdle of securing finances is one of the primary challenges. Many African startups struggle to secure funding from venture capitalists and angel investors. According to a report by the Africa Business Angel Network, less than 5% of African startups receive funding from angel investors.

Moreover, African startups often face regulatory challenges, such as restrictions on foreign ownership and a lack of legal frameworks to support entrepreneurship. This makes it difficult for startups to operate across borders and expand their reach on the continent.

How to overcome the challenges:

Seek Out Funding Opportunities: African startups can seek out funding opportunities from a range of sources, including venture capital firms, impact investors, and crowdfunding platforms. Additionally, governments and development agencies are launching initiatives to support entrepreneurship, offering grants, tax incentives, and other forms of support.

Leverage Technology: Startups can leverage technology to overcome infrastructure challenges. For example, mobile technology can be used to deliver services to remote areas, while e-commerce platforms can help startups reach customers across the continent.

Engage with Regulators: Startups can engage with regulators to advocate for more supportive regulatory frameworks. Additionally, they can seek out legal advice to ensure compliance with local laws and regulations.

Another challenge faced by African startups is the lack of access to talent. Many startups struggle to recruit and retain highly skilled professionals, who are often lured away by larger, more established companies.

Another challenge faced by African startups is the limited access to mentors and role models. Unlike Silicon Valley, which has a deep pool of experienced entrepreneurs and investors, Africa still lacks a critical mass of seasoned business leaders who can provide guidance and support to new startup founders.

Invest in Talent: Startups can invest in talent development by offering training and mentorship programs. Additionally, they can partner with universities and other institutions to access a pipeline of skilled talent.

Conclusion

Despite these challenges, African startups are finding innovative ways to overcome them. For example, many startups are collaborating and forming partnerships to pool resources and share knowledge. These collaborations can help startups access larger markets, expand their customer base, and develop new products and services.

Another strategy employed by African startups is to focus on serving the local market. By developing locally relevant solutions, startups can tap into a large consumer base and generate revenue even in the absence of large-scale investments.

Governments, investors, incubators, and accelerators are also playing a crucial role in supporting the growth of the African startup ecosystem. They offer mentorship and training programs, access to funding and networking opportunities, and often, office space and other resources. Many countries have introduced policies and regulations that are aimed at encouraging entrepreneurship and attracting foreign investment. For example, in 2018, Rwanda launched the Africa Innovation Summit, which provides a platform for startups to showcase their products and services and connect with investors.

Ultimately, the success of the African startup ecosystem will depend on a variety of factors, including access to capital, supportive government policies, and the ability to attract and retain top talent. Nonetheless, the growth and potential of the ecosystem suggest that Africa is poised to become a major center of innovation and entrepreneurship in the years to come.

-

Article by Amith Raj

Vietnam is the Next Foreign Investment Powerhouse in Asia:

Vietnam is turning out to be the best option for manufacturers who are looking for an alternative to China. This has led to a boom in foreign direct investments in the country, benefitting many of the investment banks.

Vietnam, the land of the Ascending Dragon, is predicted to reach a GDP of over 6.5 percent this year. This is mainly because of several beneficial free trade agreements and FDIs it has attracted. As per reports, the GDP already registered a 3.32 percent growth in the first quarter of 2023. The Business community in collaboration with the Government of Vietnam have implemented solutions to promote domestic production and boost exports from the country.

Vietnam has been on a growth trajectory ever since its ‘Doi Moi’ Reforms in 1986 and its acceptance into the World Trade Organization in 2007. The Socialist-oriented market economy is consistently pushing for a decentralised and deregulated economy. The Ministry of Industry and Trade of the Socialist Republic of Vietnam has reportedly established about 2,787 joint ventures with private o rganisations, domestically and internationally since 1986. The emerging manufacturing powerhouse has witnessed huge deluge of investments coming from foreign organisations. As per reports, in 2022, Vietnam saw a GDP growth of 8.02 percent with FDI contributing USD 22.4 billion in the same year. According to the General Statistics office, the electronics industry of Vietnam is considered to be one of the biggest in the world, growing from USD 5.8 billion in 2010 to USD 70 billion in 2017.

The investment banking sector and the stock brokerage market sector have played a major role in the manufacturing and export boom that Vietnam has been witnessing in the past one decade. This sector is playing a vital role in converting Vietnam into a high-income country by 2045 with an expected annual average rate of 5.9 percent. The investment banks and the stock brokerage market are tapping into the domestic as well as the foreign entities.

In terms of stock brokerage market share, VPS Securities (JSC) is proud to be the leader on all four exchanges: HNX, HOSE, UPCOM, and Derivatives for 9 consecutive quarters starting from Jan 2021 till date. As of the first quarter of 2023, VPS continues to lead the stock brokerage percentage on all four exchanges (HOSE, HNX, UPCOM, and Derivatives).

Currently, VPS has the highest market share on the Ho Chi Minh Stock Exchange (HOSE) at 15,67% and the Hanoi Stock Exchange (HNX) at 25%. VPS also contributes 25.54% of total marketshare on the UPCOM exchange as the leader, and leads the Derivatives markets at 61.54%. This year, VPS Securities won the title for ‘Best Investment Bank in Vietnam 2023’ from World Business Outlook for its resilient performance and its steadfast commitment towards delivering a global experience for its clients and stakeholders.

Laying the Alternative to China in Asia

VPS Securities Joint Stock Company began in 2006. In 16 years, it established 3 branches and 3 transaction offices with the head office at Hanoi. It is a joint stock company operating under the provisions of the Enterprise Law and the Securities Law.

VPS primarily caters to businesses and investors with a portfolio that includes: stock brokerage, financial services, investment banking and more. Over the years, VPS Securities has proven its expertise as one of the most reliable financial intermediary. Its core business comprises of Institutional Brokerage, Investment Banking, Research, Retail brokerage, Private Banking and Financial services. Its financial services include capital arrangement, securities underwriting, mergers and acquisitions (M&A), consulting on business valuation, corporate restructuring, and debt management.

In 2021, VPS Securities had been recognized as one of the best bond dealers and is considered as one of the best institutional customer consulting unit in Vietnam with the award for ‘Best Customer Experience Securities Firm’ in the very same year. The securities brokerage firm was also authorized by the State Securities Commission to increase its charter capital from VND 3,500,000,000,000,000 (three thousand, five hundred billion VND) to VND 5,700,057,000,000. As of 2021, its total assets reached over VND 26,856 billion (up over 67 percent compared to 2020). Its profit before tax reached over VND 966 billion (up over 59.6 percent compared to 2020). Its equity ownership also increased to over 7,820 billion dong. In 2022, VPS garnered a revenue of 8,668,574,641,204 VND. It registered a profit of VND 1,011,686,727,794 with 570,005,700 of total outstanding shares (based on the audited financial statements in 2022).

VPS wants to be known for its creativity & customer understanding. Ngoc Tran, Director of Investment Banking Services shares VPS’s ambition and goals for the people of Vietnam, “We are opening up opportunities for easy access to products and services in the fields of investment, finance. We have developed a diverse ecosystem of products,

serving the different financial needs of customers. We have made huge investments in training and human resource development to continuously improve our team and their expertise with the latest technology. We are constantly evolving to meet the growing needs of our clients and partners today and for the future.”

Secret to Happy Clients is Happy Employees

With over 2,500 employees, VPS Securities is already popular as one of the best places to work for in Asia. It has invested extensively into its 5-star rated working facilities. It has developed a long-term human resource development policy, giving priority to good employees who are trained domestically and internationally. The management have been specifically groomed to inculcate a culture of teamwork and team development. The working

methods have been developed in such a way that it supports continuous innovation processes at the organizational level.

At VPS, employees have access to personlized learning programmes through several online training solution, Elearning, live classroom sessions, workshops, self-study activities, mentoring sessions, competitions and many more. The firm

also has its own talk show series where it invites several outstanding achievers to share their success stories. Internal competitions like ‘The Founder +’, ‘Innovatio’ and ‘Speak up’ promote new business channel opportunities, new business ideas and critical thinking among the employees.

Ngoc Tran explains, “At VPS, we are highly committed to our community and are proud to support them in every circumstances. During the COVID-19 pandemic, we implemented many support campaigns for our clients, partners, households, frontline workers and even the local government authorities. I am proud of our team for their efforts during the pandemic. Our charity groups crossed several kms to reach the affected families in some of the most under-privileged regions of the country. On behalf of The Board of Management, I extend a big salute to the employees of VPS who contributed several support items for our less fortunate families.”

In 2022, VPS was honoured with ‘Gender Equality at Work’ Champion award under the ambit of the Women’s Empowerment Principles Awards (WEPs) 2022 by the United Nations Agency for Gender Equality and Women empowerment. Ngoc Tran adds, “We are an organization that always respects diversity and nurtures each individual’s creativity to help every member of the team.”

Vietnam has a thriving youth population that comprises 25 percent of the total population. VPS has taken special initiatives to cater to the growing demands of the future of the nation. The organization has collaborated with several banking universities, Academy of Finance, National Economics University and others to impart proper career guidance programs for the students. VPS participates and conducts guest lectures, job fairs and even sponsors training sessions to enter the securities market or to begin their entrepreneurial venture.

Maintaining the Lead through Innovations

Being the leader in securities trading on HNX, HOSE, UPCOM and being the highest market share holder in the derivatives segment, VPS Securities JSC has maintained a steadfast focus on improving its internal governance, risk management strategy, operational efficiency and financial capacity.

VPS Securities continues its commitment towards sustainable business, while optimally preserving capital & taking advantage of market

opportunities for garnering maximum profit for its clients & partners. VPS Securities is investing heavily in improving its offline and online customer experience platform. Ngoc Tran concluded, “We are constantly working on developing new initiatives to meet the diverse needs of the people in Vietnam. With more emphasis on customers and new market entrants, VPS is turning itself agile and accomplishing the goals, one financial year at a time.”

IoT and Road Safety: How Technology is Making Our Roads Safer

As cities grow and traffic increases, road safety has become a pressing concern for drivers and government agencies alike. Fortunately, the emergence of IoT technologies has opened up new possibilities for improving safety on our roads. These technologies are making roads safer by providing real-time information and data insights to drivers and traffic managers, ensuring that they make well-informed decisions on the road.

Smart Traffic Management

In this article, we’ll explore some of the most promising IoT solutions for enhancing road safety, from smart traffic management with the help of IoT devices to data-driven insights and the use of connected vehicles in accident prevention, and how IoT is revolutionizing road safety.

The implementation of IoT devices in traffic management is revolutionizing road safety. By utilizing intelligent traffic lights and real-time traffic monitoring, IoT is helping to reduce traffic congestion, mitigate accidents and improve the overall driving experience.

Intelligent Traffic Lights:

IoT-powered traffic lights have the ability to adjust to traffic conditions in real time, helping to alleviate congestion and prevent accidents. By communicating with connected vehicles, traffic lights can adapt to changing traffic conditions and optimize traffic flow. For instance, when an emergency vehicle approaches an intersection, sensors in the traffic lights can detect its approach and preemptively alter the light sequence to allow for a safe and efficient passage.

Additionally, IoT-enabled traffic lights can provide a more reliable and accurate measure of traffic patterns. Data collected from connected vehicles and sensors placed at various points in the road network can be used to adjust traffic signal timings and improve overall traffic flow.

Traffic Assistance:

IoT devices in vehicles are assisting drivers with real-time traffic information. This data is collected from various sensors and traffic monitoring systems, allowing drivers to make informed decisions about the best routes and avoid roadblocks. Such systems are also providing valuable data for city planners, helping them make informed decisions about road network design and infrastructure development.

Improved Emergency Services

One significant advantage of these systems is that they can detect accidents in real-time and provide alternative routing options to drivers. This can help reduce the number of secondary accidents that often occur due to rubbernecking and traffic jams. Overall, by harnessing the power of IoT, smart traffic management is improving road safety and reducing the impact of traffic on the environment.

One of the most significant benefits of IoT technologies for road safety is their potential to improve emergency services. By using real-time data, emergency responders can provide faster and more accurate assistance to accident victims.

IoT devices can also help prevent accidents by alerting emergency services to potential dangers on the road, such as accidents, congestion, or hazardous weather conditions. This information can be used to reroute traffic, dispatch emergency services, or provide drivers with real-time updates and detours.

In addition, IoT technologies can provide emergency responders with vital information about the location and severity of accidents, enabling them to respond more quickly and effectively. For instance, connected cars can automatically send data to emergency services, including the location of the accident, the number of passengers, and their medical conditions.

All of these benefits can help save lives and prevent injuries on the road, making IoT technologies an essential tool for improving emergency services and road safety.

Connected Vehicles

The connectivity provided by IoT has enabled vehicles to communicate with each other and the infrastructure around them. This has led to a significant improvement in road safety, with the use of connected vehicles in accident prevention serving as a prime example.

One of the most significant advancements in connected vehicles is the development of automatic braking systems, which use sensors and cameras to detect potential collisions. These systems then apply the brakes automatically, providing an extra layer of protection for drivers and passengers.

Another way connected vehicles are improving road safety is through collision avoidance systems. These systems use sensors to detect nearby vehicles and objects, alerting drivers when they

are in danger of a collision. Some systems will even take control of the vehicle and steer it out of harm’s way.

While connected vehicles have the potential to revolutionize the way we travel, they are not without their challenges. One of the most significant challenges is the cost of implementation, which can be substantial. Additionally, there are privacy concerns associated with the collection and use of data by these vehicles.

Despite these challenges, the use of connected vehicles in accident prevention and other safety measures is an exciting development in the world of road safety. As technology continues to evolve, it is likely that we will see even more advancements in this area in the years to come.

Autonomous Vehicles

One of the most exciting prospects for the future of IoT and road safety is the emergence of autonomous vehicles. These vehicles use sensors, cameras, and other IoT devices to navigate roads without human intervention. This technology has the potential to significantly reduce accidents caused by human error.

However, the implementation of autonomous vehicles also presents challenges. It is essential to ensure that the technology is secure and that vehicles can communicate with each other effectively to avoid accidents. Additionally, there may be legal and ethical questions that arise with the use of autonomous vehicles.

Data-driven Road Safety

One of the most significant contributions of IoT to road safety is the collection of real-time data. IoT sensors installed on roads and vehicles provide essential information on traffic patterns, road conditions, and vehicle performance. This data not only helps to enhance road safety but also guides decision-making processes for better transport planning and infrastructure development. Moreover, this data provides a comprehensive view of the situation on roads, which can help identify risk areas and accident-prone locations to take

Future of IoT and Road Safety

proactive measures. For example, if the data shows that a particular intersection has a high incidence of accidents, authorities can install additional traffic control devices or modify the road layout to reduce the risk of further accidents.

Manufacturers can develop more reliable vehicles and effective safety systems to prevent accidents. Overall, data-driven road safety is a critical component of IoT, contributing significantly to the reduction of accident rates and the improvement of road traffic management.

complete picture of the road ahead and helping them make informed decisions about their routes. By combining real-time data with advanced mapping and geolocation technologies, these systems are poised to revolutionize the way we think about road safety and navigation. Transport

Challenges

While IoT brings many benefits to road safety, it also presents challenges. One of the most significant challenges is the cost of implementing IoT devices in vehicles. This cost may be restraining for some drivers or companies, making it difficult to achieve widespread adoption.

Privacy concerns are another challenge associated with connected vehicles. Drivers may be uncomfortable with the amount of data collected about their behavior and vehicle performance. It is important to address these concerns and ensure that data is used in a responsible and transparent manner.

Conclusion

The future of IoT and road safety is promising, with the potential for increased safety, efficiency, and connectivity on the roads. However, it is important to address the challenges that come with the implementation of this technology.

- Article by Madhulika Pandey

How Artificial Intelligence is changing Real Estate

Artificial intelligence, machine learning, and cloud computing have changed the very course of operations in industries across the globe. The real estate industry has also borne the brunt of the changes, although in a positive way. Artificial intelligence, as per real estate experts, can give the best assistance to not only developers, but also investors and buyers in the likes of predictive

maintenance, site selection, property management, and building design. Also, the other perks, as per real estate experts, are its ability to reduce expenses and provide the best virtual experiences for buyers and investors without them having to physically attend the property location. In this article, we shall look at how artificial intelligence has changed the face of real estate.

If you are into real estate, then you would have owned various properties, and the places would require maintenance. A simple repair, if left unattended, can turn into a large, expensive affair. Yes, you can have a team of contractors or property managers, but you can get accurate predictions from an AI sensor. For example, if you have a large

number of real estate properties, then AI sensors can help in proper management, thus enhancing the lifespan of real estate resources. The perks are that you can also keep in check if the properties are getting misused or if there is really a need for maintenance.

Millennials in urban cities prefer to buy a home or apartment with IoT facilities. Are you from the same age group? The reason is that there are immense benefits. With both of you working, there are umpteen chances that you or your spouse forgot

to turn off the light switch in the living room. In these situations, you can make use of the mobile and give commands to complete the process. There are other examples, such as turning on or switching off the fan, thermostat, television, and more.

The real estate market’s prices are prone to changes throughout the year. It becomes a challenge for property owners to keep a tab on developments, but with AI tools, they can get an accurate prediction.

Also, AI tools can help consider hundreds of factors, such as government guidelines, hikes in prices, and resources, before arriving at a conclusion.

1. Predictive Maintenance

2. Home Automation

3. AI Market Analysis

4. Personalised marketing with AI tools

In this era of fierce competition, you need to personalise your ads and social media campaigns as per the needs of your target audience. An email marketing campaign based on the research inputs of AI tools has a better chance of getting the proper leads and conversions. The reason is that

AI can, with ease, do the analysis of data based on the target audience’s preferences, interests, and needs. Based on these inputs, you can modify the social media campaigns that can reach the target audience to get the best ROI.

Regarding digital marketing campaigns, AI can help automate tasks when it comes to data analysis, customer preferences, and sending emails. So, real estate agents can spend more time negotiating the deals with potential clients.

With AI tools, construction companies can identify the best areas for building apartments and homes. They can analyse factors such as economic zones, business impact, population growth, and government programmes prior to considering

5. Safety Monitoring

If you have a property far away in the hinterlands, you can use the AI sensors for monitoring purposes. This will help you keep an eye on burglars and unwanted activity. The same goes for industrial real

a new project. These points can help real estate development and construction companies determine the future value of apartments before constructing any residential buildings.

estate, whereby, by analysing the video footage, it is possible to identify safety hazards. The benefit is accident prevention.

Millionaires and billionaires remain always interested in real estate; the main reason is that they purchase apartments in many parts of the globe. In recent days, it has become a fad for real estate companies to send AI-powered virtual videos regarding a property to a potential buyer.

Have you checked the recent virtual marketing campaigns (videos) of real estate and construc-

tion companies? If you are a potential buyer, they would have sent a video that contains a 360degree description of the apartment. The file will contain information regarding the apartment that fits your needs.

So, you do not have to physically visit the property; however, you can explore each nook and corner from any location around the globe.

When it comes to customer service, gone are the days when companies in all industries used to have a customer service centre and executives by the hundreds. In recent times, AI chatbots have proved fruitful in answering routine customer care questions, helping to set passwords, and more.

The IVR machine has come as a boon to many real estate companies. The call gets routed to a human customer care executive only when the AI chatbot is unable to handle the customer’s peculiar questions.

Mentioned above are some facts about how artificial intelligence is changing the real estate industry. Yes, there are many more points to cover, and we will be covering them in the future. Do

you feel we have left some points out? If you feel so, please be kind enough to put a review in the comments section.

6. AI Virtual Tours

7. Customer Service

Challenges Start-Ups Face in Raising Funds for Survival And Success

A few centuries ago, very few people longed to start a new business. In many parts of the globe, the business community was tightly knit and was run only by families. Cut to the present: since the start of the internet and digital boom, a large number of educated and talented professionals are interested in starting a new business venture. Also, with technologies such as AI, ML, digital marketing, and cloud computing, the entire process of starting and running a new business has become easier. However, the truth is sour. Yes, every day, you can see start-ups hogging the limelight with fancy new names in industries ranging from pet dog food to IT consulting.

However, if you check the names of start-ups that were started hardly five years ago, 95% of them would have closed down for various reasons. One of the prominent reasons why start-ups faced death in the initial stage or after two years was the lack of funding or getting investors. In this article, we shall look at the challenges start-ups face in raising funds for survival and success.

Why Do Start-ups Need Funds?

You may be a first-time entrepreneur or one whose family has been in business for generations, but if you are venturing into a new business, you can survive for the first two months. The next four months will be the toughest part of surviving the cut throat competition.

You may have a bright and innovative idea that, you are sure, can rake in the investors at the drop of a hat. Your mentors and close friends may have sworn that the business idea will definitely be a success. However, if you want the business to go global, it is mandatory to have funding for various essential reasons, such as renting an office, designing/launching official websites, and designing the first product prototype.

Why do start-ups face challenges in raising funds?

Kindly note, it is not only start-ups that face challenges in raising funds but also well-established businesses that face the same challenges when trying to raise funds for a new venture. But yes, the challenge for start-ups, especially if you are a first-time entrepreneur, are convincing investors that your business idea will rake in profits since you do not have a track record.

Agreed, you can draw heavily from your savings or ask your friends or close relatives for financial help but the amount will last only for some time, maybe six to eight months. However, you will be lucky if you can get an angel investor.

1. Designing a Scalable Business Model Challenges Startups Face to Raise Funds for Survival and Success

If you want to expand your already established small business, need a loan, or want to set up the business only with venture capital, then it is mandatory to have a scalable business model. Investors will want to fund business ideas that can be easily scaled. So, take time to design a business model that can convince the investor to put his or her money on your business idea. Ensure that the business model contains vital points that can generate profits with minimal expenditure.

Core Points

• Let your business model be unique; please do not create a similar pattern to your competitors.

• If possible, ensure to make use of the latest software technologies, including automation, in your daily tasks. This method will make you less dependent on human workers if the tasks are monotonous and manually operated.

• An investor will want to know the ways you can take your business to the next level, so be prepared to face a volley of questions.

• The scalable business model should also contain Information on roadblocks and how it can steer towards growth. It should also have a foolproof plan for continuous improvement.

If you do not take time to design the perfect scalable model, then it will be difficult to find investors for your business venture.

2. Figuring out the right amount of funding

You may have to ask for funds from an investor, bank, or other organisation. But first, you need to know the right amount of money for your needs. For better assistance, venture capital experts suggest you write a business plan.

The points investors will search for in your business plan are:

• Financial Forecast: How you can set up your business with minimum infrastructure; the returns they can get in the future within a specified period. You should have a business model to justify the figures.

• You need to consult an expert or take guidance from your peers in the industry to know the right figures. The process does take time, but when you approach an investor, you will be better equipped to give the right details.

3. Selecting the Right Investor and the Right Funding Option

Yes, there are many ways to get investors as well as the right funding organisations for your startup. However, you need to select the most suitable one, and to save time, let it be more than one.

The best way, according to venture capitalists, would be to bank on your family members or close friends. The reason is that you can have flexible

Credit Cards

Financial Forecast: How you can set up your business with minimum infrastructure; the returns they can get in the future within a specified period. You should have a business model to justify the figures.

terms and save plenty of time. However, do not venture for this method unless you are sure about its success, or your personal relationships may fall into ruin. Though in many families it will be hard to find investors, you can overcome this challenge by designing a foolproof business plan and paying back the loan amount as you would to an investor.

You need to consult an expert or take guidance from your peers in the industry to know the right figures. The process does take time, but when you approach an investor, you will be better equipped to give the right details.

4. Knowing the Funding Process

Your start-up has to go through the perfect process in order to become a success. Yes, your product may belong to a certain industry, and every domain has its own share of challenges. You need to understand the hurdles in your funding process so that it may become easier.

Pre-Seed Funding

You need to go through this stage to get your startup on its feet. For many start-ups, it is not considered a formal round of funding. Usually, it is the start-up

Angel Funding

Convincing an angel investor to put his or her money into your business idea is not a piece of cake. You need to have a proper business plan and get to know their complete background in terms of investment. There are some investors who put their money only in a certain industry sector. However, if you get an angel investor for your project, then you also need to adhere to their terms and conditions. Usually, angel investors like to invest during the

The funding process will go through different stages, and the payment options will vary according to each stage. Please note that until your product or service becomes public, you need to remain focused and capable of answering a flurry of questions.

founder who does the initial investment with his or her own money and pools the money from friends and others.

seed funding of a start-up so that they can get an idea of the entire business plan. However, an angel investor, for a part of the money he/she invests in your company, would like to have equal ownership. Also, you should not forget that they can also interfere in company matters. If you are venturing out into a small business, such as a coffee shop or store, then you can search for angel investors.

Venture Capitalist

These businessmen usually like to invest in startups after the seed funding round. They can invest heavily in your start-up, ensure that it is successful, make the business get listed on the stock exchange, get a large number of shares, and then exit the company by selling all their stocks to another company.

There have been instances when a start-up has gotten its first round of funding from the best

investors in the industry. However, as per a survey, nearly 48 percent fail to raise the second round of funding, which is crucial. While the first round of funding can help your startup get off the ground, the second round is required to make your product or service available to the public. However, if you have fulfilled every point as per the first round of funding agreement, the venture capitalists as well as the angel investors will be ready to take the risks.

If you need to get the second round of funding, ensure to follow the list:

• Stick to your business idea: You may have gotten a hefty sum, but the investors will keep tabs on the ways you spend the money. So, ensure you follow a transparent method so that they can always have the belief of profit. Do not spend unnecessarily on workspace and furniture.

• New Technologies: Before getting an investor, you should have already written down the technologies needed to get your business on the market.

• Keeping Everyone in the Loop: If you are going for a second round of funding, ensure to keep the existing investors in the loop as a sign of trust.

Third Type of Funding

This is the stage when your start-up, having already established a name in the industry, wants to expand its operations. If your company has raked in profits, chances of you getting funding from national banks or acclaimed investors are possible.

To ensure your start-up becomes a success, you need to ascertain the type of funding in your industry sector. Be ready to take the challenges as they come, and you will succeed in your dream of becoming an entrepreneur.

Can you raise the required amount via crowdfunding?

These days, even movie producers rely on crowdfunding to produce films. However, you need to have a wide network of friends and generate the required publicity for your business idea. Yes, you can make use of Digital Marketing campaigns.

However, you need to have the proper tools to measure the results. You need to target the right audience to get the required investment via the crowdfunding option.

To Summarize

The above article mentions only a few of the challenges start-ups face while raising funds for their success and survival. For a newbie, it will be hard to even get an appointment with the concerned manager of a venture capital organization, angel investor or a crowd-funding firm.

Check with a first-time entrepreneur who has stood by thick and thin in the past five years, and he/she will tell you that getting investment is not an easy job. However, if you have taken the pledge to become an entrepreneur and want to succeed at all costs, then it is only a matter of time before your start-up becomes a global organization.

- Article by Sathya Narayana B

Advantages of using a cryptocurrency trading bot for beginners

Trading cryptocurrency can be a challenging process, especially for novices. With thousands of cryptocurrencies available on the market, it can be difficult to monitor price movements, analyse charts and identify profitable trades. However, with the advent of cryptocurrency trading bots,

traders can automate their trading activity and take advantage of market opportunities quickly and efficiently. In this article, we will look at how beginners can start using trading bots, as well as the benefits of using them.

How to start using a trading bot for a newcomer

The first step to using a bot is choosing the right service for your trading needs. There are a lot of services on the market that create trading bots, each of which has different characteristics and functionality. Some robots require users to have coding skills, while others provide a user-friendly interface which is easy to navigate. For the novice trader, it is recommended to choose the trading bot that is easy to use and offers extensive documentation and customer support.

After selecting the robot, the next step is to connect it to a cryptocurrency exchange. Most trading bots support multiple exchanges, and users can choose the one that suits their trading needs. After that, users can customise their trading strategies, such as setting buy and sell orders, stop-losses, and take-profit levels. Trading bots use various technical analysis tools and algorithms to identify profitable trades, and users can also backtest their strategies before applying them.

Why trading bots are so useful

Bots offer traders a number of advantages, such as:

• Efficiency: trading bots can quickly analyse market data, identify trading opportunities and execute trades without any delays. This can help traders take advantage of profitable trades they might otherwise miss.

• Emotionless trading: traders can be influenced by emotions such as fear, greed and panic, which can lead to irrational decisions. Trading bots are programmed to follow a specific set of rules and strategies, excluding emotions from the trading process.

• 24/7 trading: Cryptocurrency markets operate around the clock and trading bots can monitor the market and execute trades even when the trader is asleep or offline.

• Backtesting: Trading bots allow users to backtest their trading strategies, which can help them optimise their strategies and increase their profitability.

Conclusion

Cryptocurrency trading bots are a simple and effective way for beginners to enter the world of cryptocurrency trading. With their ease of use, efficiency and ability to remove emotion from trading decisions, bots can help traders make

profitable trades while reducing risk. However, it is important to choose a reliable robot and thoroughly test your trading strategies before implementing them.

How Banks aim for New High with Advanced AI

Change is always permanent in the universe. When it comes to technology, you are always bound to get new updates. Have you taken a keen outlook of the recent technological innovations? The entire globe is abuzz with Artificial Intelligence, Machine Learning, Internet of Things, Cloud Platform and

more. However, Artificial Intelligence aka AI has been the primary point of contention in many sectors, especially banking. for this article titled – How Banks Aim for New High with Advanced AI, you will get to know the valuable inputs of AI in the banking sector.

Why did the Banking Sector embrace Artificial Intelligence?

Take a look at the global population. Majority comprise millennials in the age group of 27 to 42. This group’s preferences have changed the concept of services in every industry and banking is no exception. The millennial population wants to have services where products are delivered at their doorstep. The very concept of a physical bank or other businesses is gradually turning obsolete.

Even some non-millennials have shifted completely towards online banking in the pandemic. For too many decades, the banking industry have been

at their toes to become a people centric sector rather than a customer-centric one. With the help of Artificial Intelligence, they have levelled the odds. Bank customers now want to avail of banking services any time of the day. So, a bank (domestic/international) has to remain functional 24/7/365. Meanwhile, Cybercrime incidents and online scams are rising at an alarming rate and banks are investing heavily on the security of their platforms and services. With the help of AI, banks have ensured that their online platform has the best security protocols and software.

Best Proven Examples – Positive Impact of Artificial Intelligence in Banking and Finance Sector

Banking services have always attracted criminal activity. When it comes to online transactions, banks have found it difficult to combat cybercrime just through means of a human workforce. However,

they can heave a sigh of relief as AI and ML have enabled them to combat all types of cybercrime, ranging from ransomware to hacking technologies.

Listed below are some of the very few examples which international banks have adapted to prevent cybercrime in their operations:

• JPMorgan Chase developed the “Early Warning System” to identify phishing campaigns. This system intimates the security department of fraudulent activity before the bank’s security gets compromised.

• HDFC Bank Ltd (India) has its own artificial intelligence program in the form of EVA, Electronic Virtual Assistant. It uses Natural Language Processing to respond to customer queries.

• ICICI Bank (India) has, iPal, the chatbot. It can respond to customers in the form of voice command and personalized offers.

• Ally Financial is well-known in the banking industry. Its mobile app makes use of a chatbot to respond to queries, payment summaries and transfers. This chatbot has the ability to respond to both customer texts and voice queries.

• Then there is the example of AI virtual assistant such as Eno in Capital One. Its special features –communicate with customers via an email, text and also on app as well as desktop. This app has features to track balances, check transactions, pay credit card bills and many more.

Artificial Intelligence in Wealth Management & Stock Trading companies

In wealth management and stock trading, you need to take instant decisions. A miscalculation can prove to be a big loss to an individual’s wallet or even a country’s exchequer. AI can help a trader wade through thousands of data in mere seconds. Then it can help him/her make the right decision in buying out stocks, bonds or shares. The best example is the “Next Best offer” project in Deutsche Bank.

DBS Bank Ltd, Singapore, has its own wealth management app, by the name, iWealth. This app offers the best recommendations in the form of financial management.

AI in Banking & Finance Sector

Identifying Criminal Activity with Artificial Intelligence

Designed to track suspicious financial crime activity, Black Forest AI model is well-known in the banking sector for helping to reduce cybercrime. A bank, physical or online, has to perform a lot of transactions in various forms. Example – paying bills, withdrawing money, depositing money in the form of cheques or transfers. The top challenges happen when customers conduct online transactions via the bank app. So, banks always need to stay a step ahead of hackers and cybercrime enthusiasts.

Chatbots

Chatbots made a big impact since its introduction half a decade ago. Today, every bank has its own chatbots in customer service operations. Embedded with AI, and tuned to the T to give relief to customers, they can work more efficiently 24*7 when compared to humans.

Chatbots made a big impact since its introduction half a decade ago. Today, every bank has its own chatbots in customer service operations. Embedded with AI, and tuned to the T to give relief to customers, they can work more efficiently 24*7 when compared to humans.

Companies developing Artificial Intelligencebased chatbots have designed their capabilities so that they can upgrade themselves to suit the question modules & patterns of customers. The upgrade pattern helps chatbots to provide personalized service to customers as well as recommend suitable financial service products.

Black Forest AI model has come as a shot in the arm to combat online banking crime.

This model has the capability to analyse transactions in millions of customer bank accounts within a short time. If Black Forest identifies a suspicious activity in any account, it promptly sends the findings to the account manager and cybercrime department of the bank to take relevant action.

• The best example of banking chatbot is Erica, Bank of America’s Virtual Assistant. As per records, this AI chatbot handled more than 50 million requests for card security updates and reduction for credit card debt.

• The second-best example of AI chatbot in banks is the Interactive Voice Response System (IVRS), which gives voice assistance to customers. The AI-enabled system gives the best guidance by not only understanding their queries, but also routing calls to the right department. If the customer has a simple query, the system is designed to give the perfect solution.

Future of Artificial Intelligence in Banking

There is no way, you could not have heard of ChatGPT in 2023. Within a few months of its release, it has garnered more than a billion active users. As you know, it uses a variety of programs and techniques such as natural language processing, machine learning and others to not only understand but also give the best responses to customer queries.

In the future, AI will be used to complete more manual tasks in banking operations thus making way for human executives to deal with complex issues that cannot be solved by software programs.

Virtual Assistants (VA) can become upgraded to match the level of human intelligence. They will serve as a single point of contact for all customer queries. These VA will be able to respond not only via mail, but also through texts, apps and in the customer’s preferred language. In this way, the customer will get a personalized experience.

Mentioned above, are only two of the positive changes Artificial Intelligence has brought over to the global banking industry. However, if you want to know about the latest developments about the positive impact of artificial intelligence in banking and finance sector, keep visiting our website for more updates.

- Blog by Sathya Narayana B

The rise in social media influencers – a trend or fad?

In 2022, the influencer marketing industry was valued at approximately USD 16.5 billion. It is predicted that the global influencer marketing platform will touch USD 85 billion by 2028, with 2023 being no exception to this astronomical growth. Another survey has predicted a 25% annual growth rate for the influencer marketing industry. So, what are the factors driving the phenomenal growth of influencer marketing? Let us take a closer look.

An astronomical number of people have quit their jobs in the US and other parts of the world since the pandemic started. Increasing stress and tiredness, a lack of work-life balance, and extended emotional and mental stress induced by the pandemic are thought to be the contributing factors to this great resignation drive. Many companies laid

off employees due to the pandemic and the consequent cost-cutting measures.

Many of these people, who either resigned from their jobs due to the pandemic-induced burnout or were laid off by the companies, found a better job in the same industry, while some even changed their work domains. However, a surprisingly high number of such people decided to try their hands at becoming social media influencers, resulting in a new job trend. This trend is popular even today and is gaining traction every day. Thousands of people who already have full-time jobs in their hands are considering quitting their jobs to become social media influencers or taking it on as a side hustle (and an additional source of income).

So, what is influencer marketing after all?

According to Encyclopedia Britannica, the definition of the word influence (noun) goes like this: the power to change or affect someone or something: the power to cause changes without directly forcing them to happen. The verb form of “influence” (Merriam-Webster Dictionary) typically means “to affect or change someone or something in an indirect but usually important way.” An “influencer” is “a person with the ability to entice prospective consumers of a product or service by

A brief history of influencer marketing:

While ‘influencer’ in itself is not something new to the world, it is the union of ‘marketing’ and ‘influencer’ that has triggered a new concept and gained rapid momentum in the last 2 decades.

Many claims that ‘influencer marketing’ started way back in the 18th century or even in the medieval ages. For practical purposes and relevance’s sake,

promoting or recommending the items on social media,” as per the Oxford Dictionary.

Influencer marketing blends both modern and conventional marketing strategies. The idea of celebrity endorsement is integrated with contemporary content-driven marketing strategies. Businesses partners with a social media celebrity to advertise one of its products or services by means of influencer marketing.

we will consider the history from the time when the internet was born. The birth of the internet in the 1990s saw the dawn of the ‘digital era’ of marketing, which laid the foundations for ‘social media marketing’ (a type of digital marketing) and, subsequently, ‘influencer marketing’ in the mid-2000s.

Celebrity endorsements were a big thing in the 80s and 90s since they had mass fan followings and could influence their fans’ decision-making while making purchases. This thought was effectively put to use by the brands by partnering with celebrities to market their products. However, as smartphones became advanced and social media connected people’s lives, the influencer was born. In comparison to the celebrities, the common man felt more connected to the influencers, who were normal

people like you and me. Hence, the influencer marketing concept started gaining popularity, and it was not long before companies took note of this.

In the initial years of the internet, the concept of ‘blogging’ was born, wherein bloggers used to create and share content about their interests such as travel, parenting, and food, to name a few, which ultimately gave rise to a whole new niche called ‘lifestyle’. Soon, blogging became popular, and brands partnered with such bloggers

to market their products, in return for a good incentive. In 2010, social media came into existence which took the internet by storm and Millions of users got on the social media bandwagon. The term ‘influencer’ gained a lot of popularity in the early 2010s. Thus, influencer marketing grew from the early years when bloggers were getting paid to create content for brands, to the end of the last decade, when about 86% of brands began setting aside a part of their marketing budget for influencer marketing.

Current scenario of Influencer Marketing:

The lure of influencer marketing:

New social media platforms are getting launched almost every year with new ideas for content creation and engagement possibilities for users. Some of these platforms grew exponentially within a very short time, amassing a mind-boggling number of users. Influencers smart enough to catch the early trend earned a huge and loyal fan base. Brands are using such influencers to reach out to their large audience, hoping to turn them into customers and generate more sales.

In 2019, the word ‘influencer’ was officially added to the ‘Oxford Dictionary’ indicating the high prevalence of the word’s usage in daily life. Then, the pandemic taught us that most traditional marketing strategies are ineffective for the modern audience. At the same time, the pandemic period also witnessed several new influencers (aka social media celebrities) coming to the limelight. Today, influencer marketing is enormous and getting bigger and bigger with each passing year.

The trends which are shaping the influencer marketing industry:

These are some of the trends that will drive the social media influencer industry in 2023 and beyond.

• Successful content creators with multiple social media accounts have fans following them across all the platforms

• The interconnection between affiliate marketing and influencer marketing and the differences between the two are increasingly getting blurred.

• The ever-growing love for video content fuelled by the upgrade to high-speed internet technology.

• ‘Live shopping’ which started two years ago and is growing in popularity is a new trend to look out for. It is already acknowledged by e-commerce brands that have launched tools for live shopping on their respective platforms and formed partnerships with content creators.

• A higher engagement and conversion rate due to the deep connection with their audience made by content creators with a few thousand (Nano and Micro-Influencers) followers, is making them the darlings of brands.

• Brands looking for long-term partnerships instead of one-time projects

• Marketers shelling out more money on influencer marketing

• Performance-based deals may become more popular

• Performance-based deals may become more popular

• Increase in the number of niche influencers who are experts in their field or a particular topic

The Perks of Being a Social Media Influencer:

Here are some of the benefits which are attracting more and more people to become social media influencers.

First and foremost, there is no specific time frame within which you are required to work. In other words, you are no longer employed by someone who sets the rules for you. Influencers get to decide their working hours and leisure time, which allows them to enjoy a healthy work-life balance.

• Freedom to choose your work: As an influencer, you are free to choose your niche or area of interest, from food to cooking, travel and leisure, beauty and wellness, clothing, technology, and many other topics.

• Collaborating with top brands: Once you decide on your niche and build your identity, you can get an opportunity to work with popular and well-established brands in the area of your interest and get to promote them.

• Freebies and promotional events: You get to receive products from collaborating brands for promotional purposes and also a chance to participate in the events organised by them, where you can build your business connections and collaborate with prospective brands.

• Being an inspiration to others: If you are successful as an influencer in building a loyal fan base for yourselves, you can inspire a thousand others and build communities of like-minded people to connect, share, and inspire others.

The following are the cons:

• Expectations and behaviour: Influencers are expected to post on social media regularly and consistently, failing which the engagement rates may fall. The audience also expects the influencers to act and behave in a certain way, both online and offline. So, the influencers need to be alert constantly. Audiences tend to get easily disappointed if the influencers are unable to live up to their expectations.

• Criticism and trolling: As the saying goes, it is not possible to please everyone. The risk of criticism and trolling is always lurking around the corner for every influencer. So, being an influencer takes a lot of courage and patience to handle criticism.

• Uncertainty of career: The competition in influencer marketing is fierce, and hence the influencer needs to always be creative and come up with new content ideas to engage and grow their audience. Influencers often earn their income through short campaigns, and hence they are supposed to be on the lookout for new brand partnerships and long-term partnerships to ensure financial stability and achieve their goals.

• Authenticity and trust: It takes a lot of time and effort to grow as an influencer, but only seconds to lose credibility. So, influencers need to be cautious about what they share.

Conclusion:

Like any other regular job, social media influencer marketing too comes with its share of merits and demerits. Hence, it will be interesting to see how long this trend will survive. Only time will prove if it is a ‘real trend’ or just ‘a fad’. As of now, there are no signs of the trend slowing down soon.

- Blog by Amith Raj S

Accenture acquires Bourne Digital to enhance its SAP offerings in Australia

Accenture has acquired Bourne Digital, an Australian digital design agency focused on the SAP ecosystem. Terms of the transaction were not disclosed.

With a specialization in the SAP Business Technology Platform, Bourne Digital creates experience driven applications, streamlining workflows and introducing automation. It will enhance Accenture’s SAP offerings in the market, particularly in the fast-moving consumer goods, financial services, resources, health and travel industries.

Founded in 2015, Bourne Digital is headquartered in Melbourne, Australia and has offices in Sydney and Brisbane. As a specialist SAP® Business Technology Platform partner, Bourne Digital builds design-led digital products and experiences for enterprise customers, including custom portal and web solutions, and mobile applications. Bourne Digital

helps clients deliver their technology strategy with an approach that couples design and architecture thinking. Its 66 employees will join the Accenture SAP Business Group in Australia, bolstering its ability to deliver a user-led approach to design, architecture and delivery and drive process excellence using SAP cloud technologies.

“In times of disruption, organizations need to digitize business processes in an increasingly compressed timeframe to become more creative, competitive and profitable,” said Matt Coates, Technology lead for Accenture in Australia and New Zealand. “With the acquisition of Bourne Digital, we will strengthen our SAP digital design and user experience capabilities to help our clients better utilize their SAP solutions.”

Selim Ahmed, chief executive officer, Bourne Digital, said, “Joining forces with Accenture gives us the opportunity to scale to meet the emerging needs of SAP customers and address the increasing demand for SAP® Business Technology Platform services globally. It will provide our experienced professionals — with their design DNA and deep SAP skills — with new development opportunities and career growth while helping Accenture further strengthen its leadership position in Australia.”

“Accenture’s deep heritage and experience in large scale technology transformation projects and Bourne Digital’s top talent and user-led design capabilities make a powerful combination in the Australian market,” said Peter Burns, who leads Accenture’s business in Australia and New Zealand.

A member of the SAP AppHaus Network since December 2018, Bourne Digital was the first SAP partner in Australia to run an SAP AppHaus, a collaborative space that brings together creative and technical experts to prototype and test ideas aimed at improving the user experience and adoption of SAP systems.

Matt Coates, Technology lead for Accenture in Australia and New Zealand

Selim Ahmed, Chief Executive Officer, Bourne Digital

Peter Burns, who leads Accenture’s business in Australia and New Zealand.

JGC Holdings selects Boomi to modernize its business systems

Boomi, one of the intelligent connectivity and automation leaders, yesterday announced that JGC Holdings Corporation (“JGC”), a global engineering company, has selected the Boomi platform to modernize its IT infrastructure and support the company’s digital transformation goals.

Based in Yokohama, Japan, JGC operates businesses across numerous regions worldwide, requiring a hub-and-spoke IT architecture to

seamlessly connect its various applications and platforms. Given the complexity of developing a new system, JGC took a phased approach to combine its software as a service (SaaS) platforms, such as Coupa and ServiceNow. The scale of the project, which required connecting numerous interfaces, systems, and platforms, resulted in escalated costs. JGC approached Nomura Research Institute (NRI) to recommend a reputable vendor with a strong track record and experience in connecting multiple platforms and simplifying complex projects.

“Boomi was among four vendors in the selection process and has vast experience in solving customers’ challenges across their digital transformation journey,” said Mr. Atsuo Honiden, Group Manager, Procurement DX Group, Digital Project Delivery Department, JGC. “Boomi was

the best fit, both in terms of technology and cost effectiveness. In addition, Boomi’s solution matched our vision to gradually integrate a number of systems to achieve a hub-and-spoke architecture.”

“Boomi has a proven track record in global deployments and provided a cost-effective solution for JGC Corporation’s procurement project,” said Mr. Akira Matsumoto, Senior Corporate Managing Director, Division Manager, DX Platform

Division, Nomura Research Institute, Ltd. “Boomi’s various connectors have enabled us to efficiently implement a hub-and-spoke architecture, connecting multiple systems in phases.”

“Boomi is the largest cloud-native independent integration company in the world with the largest customer base among integration platform vendors. We connect everyone to everything, and pride ourselves on connecting more than 200,000 unique endpoints, helping our customers, like JGC, to innovate their business quickly and efficiently,” said Kazunori Hori, Director,Japan at Boomi.

Boomi touts a growing community of more than 100,000 members and one of the largest arrays of global systems integrators (GSIs) in the iPaaS space. The company boasts a worldwide network of approximately 800 partners, including

Accenture, Deloitte, SAP, and Snowflake; and works with the largest hyperscaler cloud service providers, including Amazon Web Services, Google, and Microsoft, among others.

Australia’s new Islamic bank secures

Series A Funds from Hejaz Group

Australia’s first-ever Islamic bank has successfully completed its recent capital-raising round with a strategic investment from Hejaz Group, Australia’s leading Islamic financial services group.

The bank recently launched a $10m Series A capital raising round to allow the bank to continue building its products and systems, with a launch planned across Australia in 2024.

Islamic Bank Australia was licensed as Australia’s first-ever Islamic bank in 2022 and will offer non interest-based, Shariah-compliant banking services for Australia’s one million Muslims & the broader community.

Hejaz Group will invest $10m in the bank, forming a strategic partnership that will potentially allow the bank to offer a broader range of financial services over the coming years. Islamic Bank Australia CEO Dean Gillespie said he was delighted that the bank would be partnering with Hejaz Group moving

forward. “Hejaz is Australia’s leading Islamic finance provider, and they have a great deal of experience in providing excellent products to the community. We’re looking forward to leveraging their expertise as we launch the bank.

“Islamic Bank Australia and Hejaz share the same mission – to enable Australian Muslims to access financial services that align with their faith and values”, said Mr Gillespie.

Hejaz currently has $1.3 billion in funds under management and advice. Their Global Ethical Fund is Australia’s largest single standalone Islamic fund, whilst the Hejaz Equities Fund (ASX: ISLM) and Hejaz Property Fund (ASX: HJZP) were the first Islamic finance products to be listed on the ASX.

Mr Gillespie said the success of the bank’s capital raising round stood in contrast to the challenges in raising capital seen by numerous banks in the current economic environment.

“The capital markets are currently very challenging – particularly for neo banks. The fact that we have been able to get this raise away is indicative of the strength of our business model and just how much what we are building is needed within the Australian community.

“Islam is Australia’s fastest growing religion, and yet there’s no Islamic bank. There are one million Muslim Australians now. In other markets, like the UK, there are six or seven Islamic banks – but we don’t have that here in Australia yet. We’re the first.

“We’re delighted that this partnership will allow us to continue towards launching a bank that allows Muslim Aussies to bank in line with their faith.”

The bank will initially launch retail banking products before rapidly launching business and commercial banking – all without interest. Islamic banking products use different structures to avoid the use of interest, such as sharing profits with customers on savings products, instead of paying interest.

Islamic Bank Australia is also taking the lead on ethical banking, including refusing to bank certain industries such as big polluters and fossil fuel companies.

“Hejaz’s ambition is to provide best-in-class financial services that enable Muslims to grow their wealth in a way that is compliant with their faith. Traditionally, Muslims have been disenfranchised from financial services because they do not adhere to Shariah principles. However, this is an Australian community that is young and welleducated and is demanding more from financial service providers. Islamic Bank Australia has already established itself as a prominent Islamic brand and we’re looking forward to partnering with them to deliver much-needed banking and financial services to Australia’s Muslim community.”

“This investment from Hejaz will enable us to expand our customer acquisition whilst we work towards a full ADI licence, a key step on the path to providing Australian Muslims with an Islamic bank in Australia for the first time,” said the bank’s CEO Dean Gillespie.

The bank expects to test its products and services with a small group of customers at the end of this year, with a full launch to market planned for mid2024.

Banking

Carbon Growth Partners to raise USD 20Mln for carbon credits fund

Carbon market investor Carbon Growth Partners (CGP) has reopened its Carbon Growth Fund, seeking to raise US$200 million by mid-2024 including an initial US$20 million before the end of June 2023. The fund targets a 20% annual return by investing in a diversified portfolio of carbon credits and carbon offset projects.

The capital raise comes as CGP announced that its first fund, the Carbon Growth Opportunities Fund, has significantly outperformed major asset classes including cash, stocks, bonds, gold and crypto, generating a 17% return to investors since inception in July 2021.

“Carbon remains one of the most under-priced asset classes and we anticipate significant price rises as companies meet their commitments to reduce net emissions,” said Carbon Growth Partners CEO, Rich Gilmore. “Reopening Carbon Growth Fund No. 2 will allow investors to capitalise on that opportunity while providing finance to high-quality, nature-based and technology-based solutions that accelerate climate action around the world.”

Carbon offset markets are a critical component in reaching net zero emissions, particularly for hard-to-abate sectors. Studies published in 2023 by ratings agency Sylvera and analytics firm Trove Research found that companies who offset their emissions achieve up to 100% more internal decarbonisation than those who don’t use offsets. Since inception, CGP has invested more than US$230 million in projects that together have resulted in the verified reduction or removal of 37 million tonnes of greenhouse gases. In addition to the climate impact, CGP’s investments have helped to address 15 of the 17 United Nations Sustainable Development Goals.

CGP fund investments can be found in 27 countries across five continents. Priority investments include nature-based climate solutions, renewable energy and efficient household devices. Projects are evaluated using a comprehensive framework to ensure the quality and integrity of the outcomes, which considers a range of environmental and social factors, and seeks to ensure equitable benefit sharing with local communities. The current capital raise for the Carbon Growth Fund will close on June 30, 2023.

ShipStation enters into a new partnership with Mirakl

ShipStation, one of the world’s leading cloudbased ecommerce shipping solution providers, yesterday announced a partnership with Mirakl, the leading SaaS solution to power scalable, profitable ecommerce growth. The partnership will integrate ShipStation to the Mirakl Connect ecosystem, granting merchants access to enhanced shipping processes on the world’s leading marketplaces.

Merchants in the Mirakl Connect ecosystem can now easily access ShipStation through a direct integration. In parallel, ShipStation merchants can

now access Mirakl Connect, the industry’s largest ecosystem of high quality, vetted global brands and marketplace partners. Within the ecosystem, ShipStation merchants get access to Mirakl’s 350+ marketplace channels and selling tools, with the ability to seamlessly retrieve and print order labels through their ShipStation accounts. As a result, merchants are better equipped to build and grow their multi-marketplace businesses, and marketplace operators can provide better customer experiences thanks to accurate, realtime shipping updates.

“With the proliferation of ecommerce, it’s critical for merchants to be everywhere their customers are shopping,” said Sudha Chandrasekharan, Senior Vice President of Ecommerce Products at Auctane, ShipStation’s operating brand. “Now more than ever, the online marketplace is a critical sales channel. ShipStation’s integration with Mirakl empowers our merchants with the tools they need to start selling on marketplaces faster, and gives them access to the established customer bases of some of the world’s most trusted retailers.”

“Through this partnership, sellers in our Mirakl Connect ecosystem will be equipped with a renowned solution, already used by sellers around the world, enabling them to offer a delivery experience that matches best-in-class retailers,” said Jean-Gabriel de Mourgues, Executive Vice President, Mirakl Connect & Growth Solutions. “By being positioned to confidently respond to shopper demands for speedy, efficient deliveries, our sellers’ conversion rates will improve. It’s a win-win for all stakeholders in the marketplace ecosystem – shoppers, sellers, and our customers, the companies operating marketplaces.”

ShipStation and Mirakl’s integration gives merchants the selling tools to: Import orders and export tracking numbers between the two solutions, Streamline shipping operations for purchases made on Mirakl marketplaces, Scale merchants’ business workflows to multiple marketplace

IBM announces plans to open its first European Quantum Data Center

IBM announced plans to open its first Europe-based quantum data center to facilitate access to cuttingedge quantum computing for companies, research institutions and government agencies.

The data center is expected to be operational in 2024, with multiple IBM quantum computing systems, each with utility scale quantum processors, i.e., those of more than 100 qubits.

The data center will be located at IBM’s facility in Ehningen, Germany, and will serve as IBM Quantum’s European cloud region. Users in Europe and elsewhere in the world will be able to provision services at the data center for their cloud-based quantum computing research and exploratory activity. The data center is being designed to help clients continue to manage their European data regulation requirements, including processing all job data within EU borders. The facility will be IBM’s second quantum data center and quantum cloud region, after Poughkeepsie, New York.

““Europe has some of the world’s most advanced users of quantum computers, and interest is only accelerating with the era of utility scale quantum processors,” said Jay Gambetta, IBM Fellow and Vice President of IBM Quantum. “The planned quantum data center and associated cloud region will give European users a new option as they seek to tap the power of quantum computing in an effort to solve some of the world’s most challenging problems.”

“Our quantum data center in Europe is an integral piece of our global endeavor,” said Ana Paula Assis, IBM General Manager for EMEA. “It will provide new opportunities for our clients to collaborate side-by-side with our scientists in Europe, as well as their own clients, as they explore how best to apply quantum in their industry.”

FPT and Mila renew partnership to collaborate on AI projects

FPT, supposedly Vietnam’s largest IT service provider, and Mila, Quebec Artificial Intelligence Institute, announced the renewal of a three-year strategic partnership agreement.

As part of this continued commitment, FPT and Mila will explore collaboration on research projects related to large language models (LLMs) and natural language processing (NLP) while promoting Responsible AI, an approach to employ artificial intelligence with good intentions to empower people and organizations. Both sides will contribute to developing guidelines, best practices, and ethical standards that will promote transparency, fairness, accountability, and privacy

in AI applications. The continued partnership seeks to solve complex problems and pioneer an AI ecosystem that fosters sustainable growth, human development, and social progress.

The partnership expansion was introduced at the Canada – Vietnam AI Summit, commemorating the 50th anniversary of the two countries’ bilateral relationship. An overview of an AI-enabled future and efforts to make technology beneficial and safe for human lives were discussed among conference participants, including members of the Canadian and Vietnamese governments, scientists, and leaders from Mila, FPT, and FPT’s partners in North America.

FPT Chairman Dr Truong Gia Binh said: “As a global IT company, FPT aspires to harness Artificial Intelligence’s power for a safer, better, and happier world.”

Since the beginning of the partnership in June 2020, FPT and Mila have collaborated on multiple research projects on causality, language models, voice coding, and more.

“The Mila community has benefited greatly from our relationship with FPT over the past three years, which has resulted in the realization of many projects,” said Yoshua Bengio, Mila’s Founder and Scientific Director. “We are delighted to continue our collaboration with FPT, one of our major partners in Asia, which is a great example of Mila’s international impact.”

FPT Software, a global IT services provider in the FPT ecosystem, has contributed significantly to the corporation’s AI uptake efforts with several R&D and talent development initiatives.

“As Mila’s first partner in Southeast Asia, we are proud to collaborate in core research areas such as healthcare, environment, climate change, and AI ethics to deliver positive impacts on enterprises and society,” said Dr. Phong Nguyen, FPT Software’s Chief Artificial Intelligence Officer.

“The partnership enables FPT Software to expand opportunities for Vietnamese engineers to access the world’s latest breakthroughs and inventions as well as use their knowledge, talent, and creativity to contribute to the growth of Vietnam as a worldclass AI hub,” Phong added.

With strategic consultation from Mila, FPT has established the first and largest AI Research Hub in Quy Nhon, Vietnam. With an investment of over $85 million, the complex will be a research, development, and learning facility for 20,000 tech personnel. Since 2013, FPT has made significant expenditures in people, facilities, infrastructure,

data, and research to strengthen its AI capabilities. The corporation now boasts an ecosystem of AIenabled products and services with over 200 million monthly end-users and plans to integrate AI into all offerings to provide an unparalleled experience to its customers.

SmartMetric to incorporate embedded AI into its Biometric Credit Card

While SmartMetric, Inc. (OTC: SMME) is close to releasing its advanced premium fingerprint biometric-activated credit card the company’s engineers are now working on adding embedded AI into the card’s electronics.

Since SmartMetric designed its biometric credit card with a dual processor, it has provided the

company with the ability to innovate way beyond the simple functions of a standard credit card. The payments processing chip is separate from the advanced cryptographic MCU that is also embedded in the SmartMetric card. This MCE is used for storing the cardholder’s fingerprint and performing computing functions such as store and match of the user’s fingerprint on the card.

Adding embedded AI inside the electronics of the SmartMetric biometric credit card will provide a whole new world of application and real-time uses beyond doing a simple credit card transaction. AI with biometrics is a revolutionary advance in credit card security and user applications.

“Because we already use a separate advanced and powerful MCU with IO ports, we are able to now quickly innovate new functions into our biometric credit card such as embedding AI into our electronics platform said SmartMetric’s President and CEO, Chaya Hendrick.”

“We have a team of some of the smartest electronics and software engineers in the world working for us in Tel Aviv, Israel who are now enthusiastically working on bringing AI as an embedded functional solution into our biometric fingerprint credit card, said Chaya Hendrick.”

The SmartMetric electronics and software team have been working for SmartMetric for over a decade and are well versed in adapting advanced electronic solutions into miniature very thin form factors.

“AI is touching all corners of our world and we are excited to be able to bring functional AI as an embedded solution into the credit card industry,” said Chaya Hendrick. Embedded AI integrates AI into electronic systems. Embedded AI differs from cloud-based AI because it does not rely on remote computing resources to perform AI tasks. Instead, embedded AI is integrated directly into electronic devices, allowing them to perform AI tasks locally.

The BG Group Advisor team joins UBS in New York City

UBS recently announced that Financial Advisors Michael Bromberg, Daniel A. Gerschel, Joshua Ellner, Rob Mancino and Craig Weinstein, have joined the firm in New York City. Together with their team, The BG Group, they manage more than $2.5

“We’re proud to welcome Michael, Daniel, Joshua, Rob and Craig to UBS,” said Kellie. “We believe we have the strongest platform for Financial Advisors in the Americas, and with our suite of high net worth

The BG Group works with affluent clients from coast to coast, whose lives demand fluency in a wide range of wealth considerations. Among them are executives, entrepreneurs, financial investment professionals, healthcare practitioners, attorneys and prominent figures in the entertainment

billion in client assets for high net worth individuals and families. They join the UBS Manhattan Wealth Management Market and will be based in the firm’s 1285 Avenue of the Americas office, managed by Market Director Kellie Brady.

capabilities and truly global offering, advisors like The BG Group will be able to deliver the full power of UBS to their clients.”

business. Their robust team approach focuses on providing holistic wealth management advice and solutions that help clients achieve their lifestyle and legacy goals, while also delivering a personalized, boutique-level experience for each and every client.

Michael Bromberg joins UBS as a Managing Director and Financial Advisor. With tenure at UBS, Morgan Stanley, and Merrill throughout the past several decades, he is a leader in the financial services industry, having the privilege and honor of serving the same clients over the past 25 years. Michael believes that understanding family dynamics is essential to superior wealth management, and that effective retirement planning helps clients maintain financial independence and the ability to pursue what’s most important to them. In recognition of his success and professionalism, Michael has been named as one of Forbes’ Best In State Wealth Advisors for 2019, 2021 and 2022, as well as being named one of Barron’s Top 1200 Financial Advisors in the US for 2022.

Daniel A. Gerschel joins UBS as a Managing Director and Financial Advisor. Daniel brings more than 20 years of deep and varied investment experience to UBS. He is a Co-Founder of The BG Group and in that capacity has pioneered its strategic vision with a relentless focus on optimizing the client experience. For the past decade, Daniel has achieved his desire to work closely with clients – helping them to identify their life’s priorities and custom goals-based wealth management strategies that account for their comfort with risk, need for liquidity, an income stream, and other personal preferences.

Daniel began his career on Wall Street as an Equity Desk Analyst in the Product Mgmt. Group at CIBC World Markets and then moved into the Equity Capital Markets Desk of the firm’s Investment Banking Division.

He entered the Wealth Management business at Morgan Stanley and then later at Merrill Lynch. In recognition of his achievements, Daniel has been named to the Forbes Best-In-State Wealth Advisors list (2019-2022). While earning a Bachelor’s degree in International Affairs from The George Washington University’s Elliot School, Daniel worked part-time at

the Federal Reserve in Washington, D.C. A lifelong resident of Manhattan, Daniel, his wife Kristina and their two daughters live in Greenwich Village where they are active members of their synagogue and have taken leadership roles in several organizations that focus on education, healthcare the arts and environment.

Joshua Ellner joins UBS as a Financial Advisor and has been a member of The BG Group since 2014. Now a Partner, he focuses on serving the unique wealth management needs of management consultants, financial professionals, business owners, attorneys and corporate executives. Joshua has earned his CRPC™® designation, allowing him to focus on tax and estate objectives and strategies for a retiree and presents the unique financial and emotional aspects of financial planning that are unique to the retirement process. He has also earned his AAMS™® designation, which allows him to demonstrate a robust knowledge of investing and asset management.

Rob Mancino joins UBS as a Portfolio Manager and Partner of The BG Group. He joins from Merrill Wealth Management, where he started his financial services career in 2012. As a Portfolio Manager, Rob’s experience lies in providing sustainable and efficient investment strategies tailored to clients’ personal goals and objectives. He also functions as the team’s COO, designing, implementing, and overseeing managing practices for the BG Group. Rob has earned his CRPC™ designation, allowing him to focus on tax and estate objectives and strategies for retirees, presenting financial and emotional aspects of financial planning that are unique to the retirement process. He has also earned his CIMA® certification from The Investments & Wealth Institute in conjunction with Wharton Executive Education as well as his CSRIC® certification.

Craig Weinstein joins UBS as a Financial Advisor and is also a Retirement Plan Consultant. With over 30 years of industry experience, he has held roles as a Financial Advisor at Morgan Stanley, Merrill Lynch and UBS, serving high net worth clients and

corporate retirement plans. Craig strives to work closely with clients, helping them identify their life’s priorities through custom goal-based planning. His wealth management strategies account for their comfort with risk, liquidity, longevity and legacy

preferences. Craig’s efforts in the charitable arena have also long been recognized, as he has served as a board member of multiple organizations while being actively engaged in charitable initiatives within his community. He has been recognized by President Biden, President Trump, and President Obama with the President’s Volunteer Service

Award in recognition for his work in his community. Craig currently resides with his wife, Michelle, on the north shore of Long Island and they have three children: Jordan, Carly and Justin.

Entro secures USD 6Mln seed funding for security solutions

Entro, an Israeli cybersecurity startup offering secrets security and management, today announced $6 million in seed funding led by StageOne Ventures and Hyperwise Ventures. Founded by CEO Itzik Alvas and CTO Adam Cheriki to address secretbased breaches, Entro continuously monitors and protects secrets and programmatic access to cloud services and data. Angel investors include Rakesh Loonkar, founder of Trusteer and Transmit Security, Mickey Boodaei, founder of Imperva, Trusteer and Transmit Security, and Amichai Shulman, founder of Imperva and AirEye.

According to the Verizon 2022 Data Breach Investigation Report, secret-based breaches are among the top three attack vectors today and the most destructive breach type to an organization. Secrets security refers to the practice of protecting machine and cloud access keys and credentials

from unauthorized access, disclosure, or use. Secrets are often programmatic access keys (such as API keys, access tokens, connection strings, etc.) used by applications to access sensitive data and cloud services. With cloud services on the rise, even more, secrets are being created by R&D teams. Today there are a minimum of 500 secrets per organization scattered across at least five different secret stores. Adding to the risk, the DevOps teams creating the secrets are not responsible for securing them.

Currently, companies are relying on vaults for storage and secret scanners that search for leaked and exposed secrets. These solutions do not provide context about stored secrets, nor do they monitor or provide details about the cloud tokens or provide insights into usage, abnormal behavior, or any correlated risk per secret.

“In recent years, we have witnessed how companies were devastated by secret-based cyberattacks that were highly damaging. Today, R&D teams are forced to manage a growing number of secrets in their development and tend to spread them across different vaults, repositories and services, while security teams are having an incredibly hard time combatting this problem. This is where Entro Security comes to the rescue,” said Nofar Schnider, principal at StageOne Ventures. “With their unique solution and skilled team, they are able to help security teams regain control while providing unparalleled suggestions and insights into the current state of the organization’s secrets management.”

“Entro came to our attention because they are the first to holistically address a high-demand security problem that is growing exponentially,” said Ben Omelchenko, Hyperwise managing partner. “As organizations increase the interconnectivity between their cloud services, they proliferate more and more secrets across the IT landscape, significantly increasing vulnerability to attacks.”

OneView secures seed funding of USD 4Mln to introduce an innovative digital platform

Singapore-based start-up, OneView Pte Ltd (“OneView”), is pleased to announce that it has secured USD 4 million in seed funding from ADERA Global, Beyon Connect, part of the Beyon Group, and Cumulo9 to introduce an innovative digital platform for secure communication of documents and facilitating value-added e-services.

OneView’s innovative platform aims to revolutionise bill payments by transforming the interaction between consumers and senders, thereby simplifying everyday digital communications with a more convenient, sustainable, and spam-free experience.

Lead Investors in the Seed Funding Round

ADERA Global, headquartered in Singapore, is a leader in data security and automation, serving global banks, financial institutions, telecommunications and government agencies around the world.

Beyon Connect, part of the Beyon group based in Bahrain, is a provider of new technologies with

OneView plans to roll out digital post box and communication services by the end of the year in Singapore, enabling users to easily access their documents and communications from multiple billers and senders within a single app.

Using Singapore as a testbed for the Southeast Asian region, OneView aims to set the benchmark for innovative, eco-friendly digital solutions that improve people’s lives. By partnering with key players in the industry such as ADERA Global, Beyon Connect, and Cumulo9, OneView’s platform offers a comprehensive solution that meets the needs of both consumers and senders.

great innovation potential, Software-as-a-Service platforms, and advanced IT solutions for both the public and private sectors in the MENA region.

New Zealand-based Cumulo9 provides business services for the digital delivery of transactional documents, as well as CCM (Customer Communications) solutions throughout APAC.

Aligning with Singapore’s Smart Nation Vision and Accelerating Digitalization

Singapore has set its sights on becoming a worldclass, tech-driven city-state. The vision for a digitalfirst Singapore is one where a Digital Government, Digital Economy and Digital Society harness technology to effect transformation in health, transport, urban living, government services and businesses. The Singapore Government has made bold strides and steady progress in its digitalisation blueprint.

Aligned with this vision for a digital-first Singapore, OneView aims to enable effective and secure

communications between government, agencies, business enterprises and individuals in Singapore. The platform is designed to simplify secure document transmission and encourage greater digitization of utilising embedded e-services to fulfill actions such as payments, document verification & other value-added services. Utilising OneView’s digital postal solutions, customers can harness its technology for greater personalization and convenience, making it intuitive for each individual user to view their digital postal communications, all at one glance.

Enhancing Sustainability and Simplifying Everyday Digital Communications

Green economic growth is an important part of Singapore’s national agenda on sustainable development, where the Singapore Green Plan 2030 aims to harness technology-driven solutions to “secure a green, liveable, and sustainable home for generations of Singaporeans.

OneView is committed to going green and minimizing paper waste, aligning with Singapore’s environmental initiatives. By providing documents such as digital billing statements and providing easy payment options, the joint venture aims to

encourage more consumers to make the switch to paperless billing.

In Singapore, paper is one of the most common type of waste and in 2021, there was about 1.136 million tones of paper & cardboard waste generated.

With this digital postal solution, OneView will reduce the need for paper bills, thus reducing carbon footprint and promoting sustainability.

“Our mission is to revolutionize the way people pay and manage their important documents such as bills, while also helping Singapore achieve its vision of becoming a Smart Nation,” said LEE Kok How, CEO of OneView. “Our app is designed to simplify the process, save users time and hassle, and help them stay on top of their action items, such as payments, with ease. With the support of our investors, we are confident that our platform will set a new standard for digital bill payment services in the region, while contributing to Singapore’s vision of a Smart Nation.”

Christian Rasmussen, CEO of Beyon Connect said,”At Beyon Connect, our DNA is rooted in digital innovation and sustainability. We are thrilled to align with ADERA Global and Cumulo9, who share our passion for creating highly secure digital postboxes and communication platforms. Together, we will continue to revolutionize the way people communicate and connect via the OneView platform in the ASEAN region.”

Beyon Chief Digital Growth Officer – Shaikh Mohamed bin Khalifa Al Khalifa added, “We are extremely proud to see our digital postbox and communications innovations being used as the foundation for OneView, in a digitally mature society like Singapore. This marks a significant milestone for Beyon Connect and reinforces our commitment to driving digital transformation globally.”

Cumulo 9’s Chris Hogg added, “As a company that is committed to providing cutting-edge solutions that help businesses thrive in a digital age, we are pleased to support OneView in its mission to digitize bill payment management in Southeast Asia.”

“As a global leader in digital transformation, ADERA Global is excited to partner with OneView in their mission to revolutionize communications, document management and value-added services such as payments in Southeast Asia,” said ADERA Global’s Executive Director Marvin Tan. “We believe that OneView has the potential to set a benchmark in the region and transform the way people manage their bills and documents.”

Goldman Sachs Asset Management announces liquidation of company’s Fund

Goldman Sachs Asset Management, investment adviser for the Goldman Sachs MLP and Energy Renaissance Fund, announced yesterday that the Fund’s Board of Trustees, at the recommendation of GSAM, has approved a plan of liquidation and

Kyri Loupis, co-chief investment officer of the Liquid Real Assets business within GSAM and portfolio manager for GER stated: “After careful consideration, we concluded that liquidating the Fund was the best path forward in order to realize value to shareholders. In the last three years, we have taken multiple steps to reduce the Fund’s discount to net asset value including increasing

dissolution (the “Plan”) for the Fund. Under the Plan, which is effective today, the Fund will begin the process of liquidating portfolio assets and unwinding its affairs in an orderly fashion over time. The Plan is not subject to shareholder approval.

the dividend by 55% and conducting a buyback program which resulted in the retirement of 2.58 million shares or 15.0% of total shares outstanding. We remain very constructive on the fundamentals of the energy infrastructure sector and believe that it is poised to deliver attractive growth in the next few years.”

Steve Barry, head of the Fundamental Equity business within GSAM also stated: “GSAM remains one of the largest asset managers in the energy infrastructure sector. We believe in the longerterm prospects of the sector and are excited to continue delivering sector exposure to our clients via separate accounts and pooled investment vehicles.”

A liquidation may have important tax consequences for the Fund and its investors. Investors should be aware that a determination of the tax consequences to them should take into account their specific circumstances and that the tax law is

Additional information about the Fund’s liquidation, including the anticipated timing and amount of the Fund’s liquidating distribution to shareholders, will be released in advance of the completion of the Fund’s liquidation.

subject to change in the future or retroactively and investors are strongly urged to consult with their own tax advisor regarding any potential strategy, investment or transaction.

Wipro and Cisco team up to launch managed private 5G Services

Wipro Limited, a leading technology services and consulting company, yesterday launched a managed private 5G-as-a-Service solution in partnership with Cisco. The new offering enables enterprise customers to achieve better business outcomes through the seamless integration of private 5G with their existing LAN/WAN/Cloud infrastructure.

The changing nature of work and digital transformation across Information Technology (IT) and Operational Technology (OT) infrastructures are being driven by 5G and other complementary technologies. Managed private 5G from Cisco and Wipro supports organizations looking to enjoy the advantages of a private 5G network without having

to acquire, run, and maintain one. The as-aservice solution benefits enterprise customers by minimizing the risks associated with upfront capital expenditure (Capex) investments and expedites technology adoption as Wipro and Cisco take on the technical, operational, and commercial risks of implementing the solution.

“““Private 5G is already enabling connectivity for a wide range of use cases in factories, supply chains, university and enterprise campuses, entertainment venues, hospitals, and more,” said Masum Mir, Senior Vice President and General Manager, Provider Mobility, Cisco Networking. “We’ve created a simplified and intuitive private 5G solution with Wipro, leveraging the advantages of 5G, IoT, Edge and Wi-Fi6 technologies to improve customer outcomes.”

dashboards. The solution is seamlessly built, run, and managed by Wipro for customers. To support the partnership, Wipro has created a dedicated private 5G lab to build, test, and demonstrate industry use-cases. IT

“Wipro and Cisco have a long history of building secure networks for enterprises and industries,” said Jo Debecker, Global Head of Wipro FullStride Cloud. “We are both dedicated to the partnership and delivering a secure, cloud-managed private 5G service to our customers. Because it is an as-a-service solution, it provides maximum benefits while minimizing the human resources and costs associated with owning a private network.”

Lourdes Charles, Vice President, 5G / Connectivity Services, Wipro Limited said, “Private 5G integration will put organizations on the cusp of a new revolution. We are delighted to expand our long-standing strategic relationship between Cisco and Wipro to include managed private 5G solutions for enterprise customers. To simplify the customer experience, the solution will validate mission-critical use cases, operations Service-Level Agreements, and lifecycle management. Wipro is fully committed through our 5G Def-i platform, to assist customers with their private 5G networks through best-in-class technology, pricing, and performance.”

AI and Robotics integrator RobotLAB signs its first Robotics Integration Franchisee

RobotLAB, the robotics integrator has signed its first franchise partners, Prashant and Ruchika Nagrath of Requis Inc. The Texas-based husbandand-wife duo have acquired exclusive RobotLAB franchising rights to the entire Dallas-Fort Worth territory, which encompasses more than 120,000

businesses and seven million residents. Created to meet the growing demand for AI and robotics integration in all sectors, RobotLAB’s first-of-itskind robotics franchising program will increase access to automation and operational efficiency solutions like cleaning, delivery and customer service robots, allowing business owners of all sizes to implement cost-saving technologies into local enterprises.

“Until recently, robots were relegated to movies and science fiction, but they have quickly become an undeniable reality that reward businesses with lower costs and countless other benefits thanks to the reliability they deliver and the relief they provide to the humans that work alongside them, who are freed from menial tasks to focus on higher-level customer service,” said Elad Inbar, founder and CEO of RobotLAB. “Prashant and Ruchika’s considerable interest in our franchise model, coupled with their tremendous techfueled passion for the efficiencies robotic technologies bring to business operations, reinforced a belief we’ve held for many years, and we’re emboldened to see it come to life with our first franchisees.”

While robotics integration franchising is a new-to-market opportunity, the Nagraths were attracted to the program because of their longstanding entrepreneurial background in technology, franchising and small business ownership. With more than 20 years each in the tech industry, and nearly a decade in combined franchise experience, the Nagraths

will leverage their significant experience and expertise as RobotLAB’s first franchise partners. Residents of Irving, Texas, they will focus initial franchising efforts on the immediate area, with growth plans that include the entire DallasFort Worth Metroplex – the sizeable territory where they have exclusive rights to develop.

“As franchisees and small business owners ourselves, we are acutely aware of the struggles that plague businesses, like labor shortages and increasing economic headwinds, because we are dealing with those same challenges across our own portfolio,” said Prashant Nagrath, President and COO of Requis Inc. “Through our new RobotLAB partnership, we’re looking forward to sharing revolutionary robotics solutions with other Dallas-Fort Worth business owners because we have experienced how automation solves those problems, and pays dividends.

With an impressive roster of longstanding partnerships spanning the world’s top robot manufacturers and more than 10,000 robots deployed across the globe, RobotLAB will share its 15-plus years of expertise with its franchise partners and the local communities in which they serve. Aiming to increase access to robotics and AI solutions across the U.S., the revolutionary franchising opportunity allows local franchise partners to seamlessly introduce all businesses in their territories to the power of automation.

RobotLAB’s franchise program boasts minimal overhead, comprehensive online and in-person training, limited staffing requirements and attractive revenue opportunities in a fastgrowing industry with limitless potential. Plus, the program’s low cost of entry and thorough training makes it ideal for entrepreneurs looking to enter the franchising world, as well as experienced franchisees wanting to diversify their portfolios with a first-of-its-kind opportunity.