AInspirations
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Issue#9: AI's $23 trillion economic potential | Fight financial crime with AI.

Issue#9: AI's $23 trillion economic potential | Fight financial crime with AI.

More than just ChatGPT.

AInspirations
November 07, 2024

In partnership with

some happy news. 😃

Hey AInspirations fam!

Back in Issue #3, we interviewed Dennis Yap, Founder of Facticity.AI for our Tool of The Week feature. Facticity is an AI-powered fact-checking tool developed by Singapore start-up AI Seer. We’re absolutely thrilled to hear that Facticity.AI has recently been chosen as one of the 14 AI products to win the TIME Best Inventions of 2024 Award!

For those who’ve been with us from the beginning, you know how passionately I believe in amplifying Asia’s AI landscape—its trailblazing founders, innovative tools, and the latest events and news. That’s why I launched AInspirations, to celebrate and showcase the incredible companies making waves, like Facticity.AI, and to keep you at the forefront of AI in Asia.

Stay AInspired.

ainsider.

AI Could Generate Up to $23 Trillion Annually by 2040, says latest McKinsey's 213-page report
SK Telecom aims to make South Korea AI data centre hub in Asia Pacific, with plans to further develop edge AI technology.
IMDA will be launching GenAI Sandbox 2.0 to help SMEs experiment, innovate and adopt AI tools in new business areas.
Top 10 Countries Leading in AI Research & Technology in 2024: Four Asian countries made the list
AI may produce millions of tonnes of electronic waste by 2030, study finds

aimagine.

In collaboration with Enterprise Singapore and Agorize, the AI Open Innovation Challenge provides a global stage for startups and SMEs to advance AI technology. Whether your focus is operational efficiency, social impact, or security, seize this chance to showcase your expertise and lead the next wave of innovation.

Win up to S$210,000 in grants, plus mentorship from industry giants such as Seatrium, Safran, and Toyota Tsusho!

ainsights.

Stumbled upon this insightful blog by Lawrence Yong, Managing Director of Circle M on LinkedIn - ”How AI Will Reshape the Job of CxOs in 2025: Leading Through Strengths in an AI-Driven World”.

It explores how AI is driving rapid transformation, requiring a new kind of leadership that blends technological savviness with core human strengths. Each C-suite role (CEO, COO, CMO, CTO, CHRO) faces unique challenges as AI reshapes their responsibilities. By focusing on four essential strengths—Strategic Thinking, Influencing, Executing, and Relationship Building—leaders can however navigate this shift effectively.

This year’s e-Conomy SEA 2024 report by Google, Temasek and Bain & Company shows compelling evidence of Southeast Asia's inherent strengths in AI. Key AI-related highlights include:

AI-related searches in Southeast Asia grew 11 times from 2020 to 2024.
Southeast Asia is attracting significant investments in AI, with the first half of 2024 alone bringing in over U.S. $30 billion committed to AI infrastructure
Singapore, Philippines and Malaysia — rank in the top 10 countries globally that searched most for AI.

Explore more findings from the report, or watch the launch event.

ainnovate.

Tool of the week: Trueline AI

1/ Why did you create Trueline AI, and what problem does it solve?

Trueline AI was founded to address critical challenges in financial crime investigations such as money laundering and fraud for banks and fintechs. There is an increasing demand for speed and accuracy in investigation, yet the issues like high false positives rate, outdated systems, and a lack of regulatory knowledge persist. These challenges result in significant operational costs, regulatory risks, and reputation risks for financial institutions.

2/ What are some of the unique features of Trueline AI?

Trueline AI is a platform that features AI agents to automate tasks based on human instructions. These agents conduct contextual investigations and provide recommendation to human officers. Additionally, they are capable of understanding local regulations.

3/ Who would benefit most from Trueline AI, and how would it help them in their work?

Money Laundering Risk Officers (MLROs) and Fraud Examiners in banks or fintech companies would gain the most from Trueline AI. Its AI agents can cut the false positive rate by 50%, streamline repetitive manual tasks, and offer actionable recommendations to support investigations.

4/ What can we expect to see from Trueline AI in the next 12 months?

We expect to see more early adopters and enhanced AI Agent capabilities on the Trueline AI platform, aiming to cover end-to-end compliance operations.

For more information, please reach out to Ng Han Liong.

aimpact.

Don’t miss these exciting upcoming AI events and conferences in the region. If you'd like to feature your event here, just drop us an email.

Use AI as Your Personal Assistant

Ready to save precious time and let AI do the heavy lifting?

Save time and simplify your unique workflow with HubSpot’s highly anticipated AI Playbook—your guide to smarter processes and effortless productivity.

Download the free guide today.

aicademy.

AI & Marketing Strategist Andrew Bolis has created a mini course featuring 30 most practical, game-changing AI tools that can truly transform your life and the way you work.

To get the most out of this course:

Block 15 mins daily to explore each tool
Sign up for each tool (they’re all free)
Complete a task using each tool

By the end of this course, you’ll build a habit of using AI tools!

ainfluencers.

The world of AI thrives on a community of passionate and exceptional experts who generously share insights to help businesses and individuals harness its power. Check out some of our favourite human influencers on LinkedIn.

Kevin Chung,
Chief Strategy Officer,
Writer

Rebecca Joy,
CEO/Co-Founder,
Saigon A.I.

Christine Deana Antonio, Venture Architect, FutureLabs Ventures

Know any AInfluencers we should be featuring? Send us your recommendations and referrals!

quote of the day.

❝

Calling yourself an AI company today is like calling yourself an internet company in 2024. It's meaningless because it's universal. Every company uses the internet; every company will use AI.

Cristóbal Valenzuela, Runway CEO

prompt of the day.

Midjourney Prompt: a swimming pool and bar in the living room of a large mansion, colourful decor and furniture, modern

that’s all folks.

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