Lessons from Aerodyne on adopting AI

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“We are on the journey to irrelevance all the time as companies. That means pivoting is an inevitable thing.”

That’s a quote from today’s premium article, and I really like it. It puts across the overarching challenge businesses face so succinctly and with the right amount of weight.

It also illustrates the importance of flexibility and pivoting, characteristics that are commonplace in the startup world but nevertheless ones that need to be applied correctly. Otherwise, it’s just trend chasing, and – by making one look desperate and plan-less – it could put off potential investors.

As you might expect, the technology everyone’s thinking about pivoting to nowadays is AI. Malaysian drone company Aerodyne seems to have gone about it the right way; maybe other startups can follow its example.

Today we look at:

• Aerodyne’s pivot to AI and what startups can learn from its journey
• The US$5.9 million series A round of a Singapore-based food supply chain solutions provider
• Other newsy highlights such as Luckin’s upcoming expansion plans and FPT’s big investment in Japan

Premium summary

Don’t forget the fundamentals

Image credit: Timmy Loen

We’ve been using and experimenting with generative AI in different capacities here at Tech in Asia, and everything stems from the question of “does it make sense?” In other words, when we use it, it’s because it makes a material difference to our work quality or processes. It’s never just for the sake of it.

To be frank, it’s how everyone should approach it – a possible useful new tool, nothing more, nothing less. Don’t get sucked into the hype, especially if it doesn’t make sense for your company’s product or solution.

Aerodyne’s a great positive example, pairing AI with drone technology in a solution that – very tangibly – provides value to its clients.

• Didn’t quite take off, but that’s alright: The drone industry was predicted to boom in 2016. When that didn’t come to bear, Aerodyne started to pivot to an AI-focused business model in 2017, leveraging the data collected by its drones to offer predictive analysis and enterprise resource planning solutions, particularly for the maintenance of assets like electrical towers.
• One wash you don’t want: There’s a global trend of companies incorporating AI into their products and services, driven by increasing investments in the sector. However, “AI washing,” where companies falsely claim to have AI capabilities, is on the rise as well. This has already led to legal repercussions for some firms.
• What value does it add, really? Investors are increasingly demanding demonstrable use cases and revenue generation for AI-powered solutions, moving away from purely speculative investments.

Cooking up funding

Chart a course to building your AI startup at this founder’s roundtable

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