Do AI bots dream of livestreaming for SEA e-retailers?

This week’s On the Rise dives into AI bots in SEA’s livestreaming scene, analyzes Indonesia’s early EV players, and looks at Binance’s blues. [Read from your browser]( On the Rise 🚀 Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in emerging tech. If you’re not a subscriber, get access by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we look at: - Will AI bots disrupt the [livestreaming party in SEA?]( - Getting a head start in Indonesia’s EV race [doesn’t mean you’ll finish first]( - New Binance same as the old Binance despite CEO change Hello {NAME} , Recently, I came across videos on Instagram of Elon Musk speaking fluent Mandarin and trying to sell some gadgets for a car. While you could tell it was a deepfake video, I was quite amazed at how advanced the technology has become. I couldn’t help but wonder how challenging it will be in the near future to identify what’s real and what isn’t. This made me remember something that Tony Fadell - the “father of the iPod” - told me earlier this year [in an interview]( AI is going to push us into verification technologies faster than ever “because we’re going to need to know who we are dealing with on the other side.” I could relate to it more with this week’s Big Story by my colleague Scott. It made me realize that we would be playing a game of ‘is it human?’ in everything that we interact with very soon. With AI bots becoming extremely popular in China, he explored if - or when - this technology will start to disrupt the livestreaming industry in Southeast Asia. He found out that while AI bot streamers are ready to make their way to the region, questions remain about whether e-tailers and ecommerce platforms are prepared to handle them. Speaking of ecommerce, my colleague Putra looks at whether Indonesia’s early electric vehicle pioneers are vulnerable to new players - the same way Lazada was leapfrogged by its closest competitors. In Token Issue, Scott analyzes Binance’s troubles following the conviction of co-founder Changpeng Zhao for money laundering. The platform was recently banned in the Philippines and saw the exit of a top executive in the country. But first, the Big Stories. -- Collin  --------------------------------------------------------------- THE BIG STORIES 1️⃣ [Can AI bots shake up SEA’s thriving livestreaming industry?]( The region’s e-retailers are expected to adopt AI-controlled deepfake bots for live commerce in 2024. 2️⃣ [Indonesia’s early EV pioneers are making ground but vulnerable to disruptors]( Electric vehicle companies are raising big bucks to ramp up manufacturing and infrastructure. But what happens when newcomers start to appear? --------------------------------------------------------------- TOKEN ISSUE Binance showing no signs of contrition despite CEO change At the end of every war, there are always people on the losing side who - when faced with surrender - will simply [refuse to do so](. The US Securities and Exchange Commission's war on crypto is turning out to be no different. It’s been two weeks since the ouster of Binance founder Changpeng Zhao, following his [conviction for money laundering]( in the US. While it is unrealistic to expect the crypto firm to magically transform into a squeaky-clean operation overnight, you would think new CEO [Richard Teng]( would at least appear to be making good on the reforms he promised. But that isn’t what the market is seeing. Instead, the Philippines' Securities and Exchange Commission announced on November 29 that it was joining the ever-growing club of countries blocking Binance for allegedly operating an exchange without a license. The crypto platform's general manager for the Philippines has also [left the company](. The response from crypto traders to this is exactly what we’ve come to expect over the past 18 months. Instead of cheering the attempts to bring regulation, Binance's army of [stans]( claimed the Philippines was declaring war on Binance and [labeled]( the country as one of the most restrictive regulatory environments in the world. The Philippines is nothing of the sort. It ranks 32nd in the world on the [Digital Trade Restrictiveness Index]( a list put out by the European Center for International Political Economy. By most accounts, the Philippines is fairly open to crypto - if you play by the rules. But getting the crypto industry to play by the rules has always been a challenge. Investors and advocates seem to view regulations as an anathema to a thriving industry, even though the absence of such rules has allowed terrorists, cybercriminals, and even sovereign nations looking to avoid sanctions to trade on these platforms. According to the [US government]( these issues were central to its case against Zhao. Teng even [promised]( to increase compliance and transparency to combat them. So it was surprising when Teng gave an [interview]( on Monday, claiming that the illicit funds and money laundering issues that the crypto sector faces are not as big as many believe. He downplayed the situation, saying that “the amount of illicit funds flowing through cryptocurrencies is less than 1% of all crypto funds.” For the record, the global market cap for all cryptocurrencies is US$1.4 trillion, meaning 1% would be equal to US$14 billion. If the report is accurate, regulators will clearly have to keep a close watch on Binance to ensure they are sincere about compliance. Given the complexities of trying to regulate this environment, it isn’t surprising that the Philippines decided to pull the plug on Binance. They won’t be the last country either - Binance is only registered in [45]( countries but claims it is available in more than a hundred. It is only a matter of time before the next country decides that they too have had enough of Binance and its clients. -- Scott  --------------------------------------------------------------- NEWS YOU SHOULD KNOW Also check out Tech in Asia’s coverage of the emerging tech scene [here](. 1️⃣ [Jala reels in funding]( The Indonesian aquatech startup has raised US$13.1 million in a series A round led by Intudo Ventures. The funding will be used to improve Jala’s platform, particularly with its forecasts and analyses for cultivation performance, water quality, and shrimp disease. 2️⃣ [Startup gets a windfall]( The co-founders of Bangladeshi consumer tech firm Pathao have shifted their focus to Wind, a Singapore-based remittance platform. The new venture, which is powered by the Polygon blockchain, aims to open up the payment corridor between Southeast Asia and the US. 3️⃣ [Lenskart sets its sights on SEA expansion]( The India-based eyewear retailer aims to launch up to 400 new stores in the region within the next two years. 4️⃣ [Microsoft takes a seat on OpenAI’s table]( Microsoft is taking an observer role on OpenAI’s board, which means it won’t have voting rights. That said, it will still have access to confidential information from the ChatGPT developer. 5️⃣ [SenseTime eyes funding for AI units]( The Chinese AI firm is reportedly mulling separate fundraises for two of its units: autonomous driving and healthcare.  --------------------------------------------------------------- FYI 1️⃣ [An Indian astrology startup turning prophecy into profits]( Astrotalk looks to raise US$40 million in a pre-IPO round to expand its international operations by acquiring other astrology companies. 2️⃣ [AI race in Vietnam heats up as more tech giants join the bandwagon]( Analysts believe that only a handful of companies can compete in the country’s AI race as the sector needs large capital and data handling requirements.  --------------------------------------------------------------- That’s it for this edition - we hope you liked it! Do also check out previous issues of the newsletter [here](. Not your cup of tea? 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