Asia's tech news, weekly: July 18th 2023
Australian quantum-nav, China soc-med liability, Filipino space-tech, UN & industrial AI, semiconductors in India, crypto & Korea, agri-tech drones in India...
• Chips in space, robotaxis, quantum software, embedded FPGAs and augmented reality feature in this look at 143 companies that raised $3.5 billion in June
• Australia: Q-CTRL quantum tech firm partnered by Dep't of Defence to develop sensors for 'quantum-assured' navigation in locations lacking GPS coverage, including space and undersea
• Singapore central bank, Amazon and Int'l Monetary Fund unveil 'purpose-bound' money concept, proposing digital currencies for specific uses via blockchain and non-blockchain ledgers
"...Chinese market had an edge...when AI was in the 'age of execution' because it has a huge amount of market data and applications... But in the era of generative AI, AI went from 'execution' back to 'invention'."
• Thailand: India's CtrlS Datacenters to lease 10-acre land parcel for 50 years, building 'hyperscale' center with proximity to subsea cable landing centers for international access
• China: "...social media companies will now be responsible for the authentication of all content posted...and suspend or prohibit users who have not been granted 'profit-making permission'"
• National Bank of Cambodia inks MOU with China's UnionPay, enabling UnionPay payments in Cambodia's national QR system cross-border interoperability
• Philippines: Astranis space-based 'net startup to launch and operate dedicated Philippines satellite capable of connecting 2M people, partnering Orbits Corp for satellite services
• Amazon Web Services launches inaugural Australia-New Zealand Generative AI Accelerator program, providing mentorship and up to $200K in AWS Activate credits
• India: Dukaan e-commerce firm replaced 90% of customer support team with AI chatbot, claiming cost cut of 85% and resolution time cut from 2 hours to 3 minutes
"Low-quality, AI-generated content farms designed to rake in cash via programmatic advertising revenue are cropping up at an alarming rate. And unfortunately...their business model is working."
• China: LandSpace to attempt 2nd launch of Zhuque-2, medium-sized rocket powered by liquid oxygen and methane capable of 4000kg of payload delivery to 200km low Earth orbit
• Australia: Dep't for Corporate & Digital Dev to invest $7.5M per year for 4 years to lift Northern Territory cybersec controls and capability to protect territory government's data and critical infrastructure
• Japan: MUFG Bank backs Groovenauts quantum computing firm, aiming to use quantum tech in financial services including derivatives trading and asset risk mgmt, while lifting operational efficiency
• Australia: New South Wales gov't to invest $40M in 'spatial digital twin' over next 3 years, delivering a 4D model of the state to allow better planning and outcome predictions on infrastructure projects
• UN Industrial Development Org and others, including Huawei, launch Global Alliance on Artificial Intelligence for Industry & Manufacturing, for collaboration and knowledge-sharing
• China: "Cryptocurrency transactions are illegal on the mainland, where Beijing has also banned overseas exchanges...But in Hong Kong, crypto trading is legal and the city is seeking to become a digital assets trading hub."
"To date, NewsGuard's team has identified 331 Unreliable AI-Generated News and information websites...spanning 13 languages..."
• Smart Communications telco launches Philippines’ first Prepaid 'virtual' eSIM, giving customers access to mobile services without purchasing a physical SIM card
• China: Denglin Technology secures funding from state-run China Internet Investment Fund for development of GPUs capable of similar use cases to NVIDIA chips
• Singapore: An intro to Zero-Error Systems, making 'hardened', more reliable semiconductors for satellites and space use, EVs, autonomous vehicles and more
• Malaysia: Selangor Accelerator Programme opens applications for Cohort 6
• India: China's BYD EV maker reportedly seeking regulatory approval for $1BN investment, partnering Megha Engineering to manufacture electric cars and batteries, and with sights on charging network
• South Korea to require companies that own or issue crypto to disclose info in financial statements from 2024 - quantity, characteristics, business models, accounting policies, profits, volume and more
• India: IoTechWorld Avigation gains Indian Farmers Fertiliser Coop contract to supply 500 drones for nano-fertiliser spraying, with IFFC sights on 2500 drones and 5K rural individuals trained nationally
"If generative AI represents a tectonic shift in the way we work, offshore outsourced workers are at the fault lines."
• India: Taiwan's Foxconn in talks with Taiwan Semicon Manufacturing Co and Japan’s TMH Group for tech and JVs to construct semiconductor fabrication units in India
• China: Huawei may return to 5G smartphone industry by year-end, using chips from its own semiconductor design tools and chipmaking from China's Semiconductor Manufacturing International Co
• Australian Competition & Consumer Commission: "“...consumers may not be aware that their information is being collected, stored and sold by third-party data brokers with whom they have no direct relationship."
• Malaysia: India's Razorpay fintech and payments solutions provider launches its first international payment gateway service in Malaysia
• Vietnam: Google For Startups, Southeast Asia, sets next cohort for Vietnamese tech startups only, with applications closing August 25th
• New Zealand: Inzpec launches connects real estate due diligence platform, connecting property buyers with qualified property inspectors to provide one-stop-shop for property-related due diligence
"TikTok's Australian director of public policy…said she knew there were offices in China but didn't know where the 'formal headquarters' were."
• Philippines: A video intro to BreederDAO, offering 'breeding' and crafting of NFT characters
• Australia: The Best Of Moi direct-to-consumer brand lands $850K pre-seed funding to boost product development for more convenient liquid dietary supplements
• Australia: Black Nova early-stage VC targets $35M fund's first close in 6 months, looking at backing firms in the Aus-NZ business-to-business tech industry
In other news…
» Japan and NATO to step up collaboration, going beyond traditional security and into cyber, emerging and disruptive tech, and strategic communications
» India unveils new Critical Minerals Strategy: New Delhi has identified 30 minerals considered critical to both national and economic security
» South Pacific: Cook Islands PM ‘proceeds with caution’ on deep-sea mining for critical minerals
» Samoa, Hong Kong, fake news & cryptocurrency: Samoa’s government said no approval was given to ventures that were publicly launched
» Lithuania’s Indo-Pacific Strategy: Strengthening cooperation between Lithuania and the region
» Fake Signals and American Insurance: How a Dark Fleet Moves Russian Oil
'Crypto crime fell 65% in the first 6 months, driven mainly by a 77% decline in money earned from scams... scammers took in nearly $3.3BN less in the first half than they did a year earlier...'