AI, captain: How SEA’s startups are navigating genAI for business

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Hello reader,

Happy Valentine’s Day! For a laugh, I asked ChatGPT to give me a list of funny Valentine’s greetings. Here are some of the results:

• Roses are red, violets are blue, I hope this card makes you smile, and not say “eww”!
• Happy Valentine’s Day to my partner in crime! Let’s steal some hearts and maybe a few chocolates, too.
• You’re the bacon to my eggs, the cheese to my macaroni, and the one who always steals the covers. Happy Valentine’s Day, you blanket bandit!

I’m particularly amused by the last one because I’m a notorious blanket thief. My partner and I have agreed that when we finally move in together, we’ll each have one huge blanket to minimize theft and maintain harmony in our home.

It was fun to use ChatGPT in a more personal context, and it’s perhaps one of the more common applications of generative AI these days. Many individuals are embracing genAI to help them work more productively, but in today’s premium story, we find that businesses are a different matter altogether.

Today we look at:

• What Southeast Asia’s startups think of AI
• A spiritual tech startup that’s just raised series A money
• Other newsy highlights such as Octopus’ chief marketing officer stepping down and the reopening of Grab-GoTo merger talks

Premium summary

The age of AI

Image credit: Timmy Loen

Even if you’ve been living under a rock, you’re probably aware of how genAI has taken the world by storm. As the hype dies down, though, it seems clear that while Southeast Asian businesses are excited by the tech’s possibilities, they haven’t taken the next step of integrating genAI into their core business.

• Approach with caution: A poll conducted by Tech in Asia among 25 startup founders in Southeast Asia found that many companies in the region are hesitant about investing in AI. Most are also unsure about increasing their spending on AI without seeing a clearer path to getting a return on their investment.
• The good and bad: Those who have added AI to their workflow say they use it to cut costs and to hone their business strategies. They also tap the tech for general administrative purposes like creating marketing or sales content, summarizing reports, and managing emails. However, they also face challenges such as AI hallucinations and difficulties with getting customers on board.
• The employment question: While all the founders that Tech in Asia spoke to saw advantages to AI, many were concerned about its long-term effects, particularly on employment. Where do the productivity gains from AI go: to employees or employers?

Read more: The good, the bad, and the hallucinations: What SEA startups think of AI

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