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Hello readers,
As something of a sports nerd, I pay more attention to statistics than I care to admit.
Knowing the numbers behind the game allows you to understand what you’re watching a little bit more, which in turn makes you enjoy it even more. This applies not just to the professional games I watch, but also to the extremely amateur level of flag football I play.
It’s fun to look back on the numbers you racked up over a tournament weekend and compare yourself to the other athletes (I use that term loosely). However, just as the play on the field is amateur, the collection and analysis of statistics aren’t exactly professional.
This can lead to simple errors, like a catch I was sure I came down with not being recorded. This isn’t a huge deal in amateur sports, but when it comes to data analysis for businesses, little mistakes can cost big bucks.
That truth is probably part of why Defog, an AI-powered analytics firm based in Singapore, has raised US$2.2 million in a seed round led by Script Capital and Y Combinator. Its tech aims to make data analysis faster and more accurate, which is still a pipe dream for us amatuer flag football players.
Today we look at:
- Why Defog thinks it can clear up data analysis with AI
- Wind, which aims to bring remittances from the US back to Southeast Asia via the blockchain
- Other newsy highlights such as former Binance head honcho CZ being forced to remain in the US and Shein’s plans for an IPO.
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Data dive
Image credit: Timmy Loen
Defog will use the funds it has just raised to expedite the development of SQLCoder, its open-source large language model (LLM).
It also has a platform called Agents, which it says will help companies ask even more complex questions using AI.
- In-house: SQLCoder is designed to be deployed on a company’s database and carry out rapid data analysis. The platform allows employees to ask questions in simple English, and SQLCoder will provide answers 80% faster than manual methods, according to Defog.
- Coming to America: Co-founder and CEO Medha Basu told Tech in Asia that Defog would focus on the US, where AI is being adopted at a quicker rate than in Southeast Asia. While the US is a tough market, Basu said that Defog’s ability to tailor-fit its LLM for customers gives it “an incredibly important and powerful competitive edge.”
- To each their own: Defog’s customers value customization, according to Basu. She noted that even basic tasks like calculating customer churn can vary widely from firm to firm, so factoring in key nuances is vital.
Gone with the Wind
Giving productivity a boost
Quick bytes
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