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In today’s newsletter, we look at:
- AI startup leverages smaller model to tackle data privacy challenges
- Transforming the workplace with AI isn’t as simple as you think
Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter spotlights emerging startups and the biggest trends in the tech ecosystem. If you’re not a subscriber, get access by registering here.
Hi there,
Lately, I’ve been making decisions about which furniture I want custom-made and which I’ll just buy off the shelf for my new home, which I’m moving into next year. So far, custom pieces keep making it onto the list.
The reason is simple: custom-made furniture can be built exactly to fit my space and needs, especially when dealing with tight quarters – an issue I’m sure I’ll be facing a lot.
Sure, it’s a bit more expensive than store-bought models, but the added value of something tailored to my requirements makes it worth it. Now, it’s just a matter of finding the right custom furniture maker.
This week’s Big Story explores how Pints.ai is taking a similar approach to AI solutions for financial institutions. Rather than relying on large, generic AI models that may come with data privacy risks, the startup offers smaller, custom-built models tailored to meet the specific needs of each client – all while working to keep costs in check.
Firm touts fix for data privacy issue: small-scale AI
Image credit: Made by Tech in Asia using Midjourney
Singapore-based Pints.ai is tackling a significant challenge in the financial sector: data privacy concerns associated with generative AI. While major players like Morgan Stanley and JPMorgan are turning to custom-built AI solutions, many smaller financial institutions lack the resources to do the same.
Pints.ai aims to bridge the gap by offering privacy-focused small language models that not only meet the unique needs of enterprises but also significantly reduce costs by lowering the expensive training required for larger AI models.
AI adoption in the workplace hits a bump
Startups like Pints.ai are attempting to capitalize on the momentum of increased corporate spending on AI. A survey done by the CNBC Technology Executive Council in June reveals that AI is projected to be the “single-largest technology spending budget line item” for 2025, with 44% of participating US-based companies allocating their budgets to the tech.
More importantly, the survey indicates that most companies plan to allocate almost two-thirds of that budget for “employee-facing AI,” suggesting a desire to make their workforce more productive through AI-powered solutions. Data from marketing intelligence firm Aberdeen Strategy and Research shows that strategic investment in AI tools can lead to a 3.2x increase in worker productivity.
However, the ability to realize this potential hinges on effective implementation, as humans remain largely responsible for the AI’s output. Investing in AI is one thing; investing in people with the expertise to leverage it effectively is another. Currently, many companies face challenges in this area, with Aberdeen reporting that 68% of them struggle to attract talent capable of managing AI-based solutions.
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