Drone startup changes trajectory to AI

IN FOCUS

In today’s newsletter, we look at:

• To pivot or not to pivot to AI: That’s the question for startups
• Is CP Group scion’s AI startup worth the US$60 million it raised?
• Indonesia’s finance services sector confident in deploying genAI

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Hi there,

I’ve heard anecdotal stories about Web3 startups rebranding themselves as AI firms, hoping to surf from one wave to the next. While my first reaction was to smirk, I realized that this is what entrepreneurs sometimes have to do to keep their companies afloat.

In this edition’s featured story, my colleague Scott recounts how Aerodyne, a Malaysian drone company, pivoted from offering just drone services to being a data science business.

Now, the firm, which has over 150 data scientists and AI engineers, is working to combine the customer data its drones collect with a large language model (LLM). This will allow it to do things like automating the maintenance of telecom towers and other assets.

While it’s possible to achieve this without AI, having an LLM removes the need for a human intermediary between the various systems.

Find out more on this, along with how founders should be integrating AI into their products and services, in Scott’s story.

Meanwhile, in the Hot Take this week, I take a closer look at the results of a survey that examines how ready Indonesian fintech and financial institutions are in adopting genAI.

— Simon

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THE BIG STORY

To pivot or not to pivot to AI: That’s the question for startups

Aerodyne has successfully pivoted from drones to AI, but other companies chasing funding by integrating AI need to be careful.

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THE HOT TAKE

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DEEP READS

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Get ready for a game-changer

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FYI

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