3 startups shaping AI in Southeast Asia

Source: e27

As the global marketplace continues to evolve, there is growing evidence that companies in this part of the world will maintain considerable influence in the space

 

Alongside workplace automation and trends in video marketing, Asia’s economic growth continues to cause a stir in new and emerging industries.

Let’s use the diverse subregion of Southeast Asia as an example. Its 11 countries account for over 600 million people and 13 official languages. Despite being much smaller than neighboring markets in India and China, Southeast Asia has seen a significant rise in venture capital deals over the past few years.

One of the more fascinating areas, Southeast Asia startups are breaking ground is the field of Artificial Intelligence. A recent survey conducted by the IDC reports that AI adoption in the region is on the rise– with 37% of companies planning to adopt over the next five years. While the race for AI excellence is still led by the U.S. and China, Southeast Asian countries are giving rise to key startups bringing the tech to finance, logistics firms, and even agriculture.

During this technological shift there are plenty of key players to watch but we’re going to highlight 3 Southeast Asian companies emphasizing the current trend.

Active.Ai

Active.Ai is a fintech platform enabling financial institutions to deliver their services across various channels through micro conversations. The vendor offers banks, insurance companies, and capital markets support that can automate complex financial queries and transactions. Its AI component provides customers with seamless intuitive engagement via mobile, chat, or voice enabled devices. Additionally, the company is able to manage and build custom digital channels for banking, loans, trading, and other essential systems.

Since launching in 2016, Active.Ai has raised a total of US$11.75M from top-tier investors. The startup has attained noteworthy success enabling several of India’s largest banks along with insurance companies in Malaysia, Singapore, Thailand, and the Philippines. As Active.Ai continues to grow and enter new large markets, it’s proprietary artificial intelligence engine named Triniti is expected to become an industry staple.

Recently, a conversational banking assistant powered by Active.Ai received the DX Leader Award at the 2018 IDC Digital Transformation Awards. Through the precise management of context driven conversations, the technology empowered Axis Bank’s Axis Aha! to achieve 97% data accuracy and 40 times month to month growth. It serves as a case study for two very important points; Conversational AI is rapidly evolving and Active.Ai is at the frontlines creating valuable connections between banks and their customers.

Read Full Article on e27

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