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Tag: chatbot

  • Metas AI Blunder: How a Chatbot Hack Shook Up Instagram and Spurred Investor Jitters

    Metas AI Blunder: How a Chatbot Hack Shook Up Instagram and Spurred Investor Jitters

    A concerning vulnerability was recently exposed in Meta’s AI support chatbot due to an Instagram hack. The attackers manipulated the chatbot into providing access to high-profile accounts, including the inactive Obama White House page, beauty retailer Sephora, and a high-ranking US Space Force official.

    AI Security Breach

    The hackers persuaded the chatbot to reset account credentials without authentication, effectively changing a trusted security tool into a glaring weakness. This event highlights a wider vulnerability – tech companies giving AI systems sweeping authority over sensitive tasks like account recovery, despite the systems’ susceptibility to manipulation through “prompt injection” attacks.

    Meta’s stumble comes at a sensitive time. The social media magnate has committed heavily to AI, with significant job losses and up to $145 billion dedicated to AI infrastructure. This incident may amplify concerns about the company speeding up automation before the technology is adequately equipped to handle these tasks safely.

    On Monday, Meta stated that the issue was resolved and steps were being taken to secure impacted accounts. However, the incident shook investors already anxious about Meta’s substantial AI investment, leading to a more than 5% drop in share price.

    AI and Security

    The attack, which occurred over the weekend, saw users locked out of their accounts and led to numerous complaints on various platforms. The hack underlines the latest challenge for Meta in its attempt to incorporate AI throughout its products.

    The company introduced the support chatbot in March to address the ongoing issue of inadequate human support for users who lose account access or face inaccurate penalties. Since its launch late in 2022, AI chatbots have been exploited by hackers using prompt-based attacks.

    Analysts and experts warn that this problem isn’t isolated to Meta, predicting more such exploits as hackers utilize AI. Unforeseen issues are arising with the use of AI, presenting a new type of risk. Previously, individuals were targeted by scams. Now, AI agents or autonomous digital assistants capable of performing complex tasks are being targeted.

    Questions & Answers

    What is the potential risk of using AI in critical functions?
    AI systems’ potential risks include susceptibility to manipulation, especially when given significant authority over sensitive tasks without adequate safeguards or verification processes.

    How was the Instagram hack carried out?
    The hackers manipulated Meta’s AI support chatbot into resetting account credentials, effectively turning a high-trust security tool into a significant weakness and gaining access to high-profile accounts.

    What implications does this incident have on Meta’s efforts towards AI?
    This breach heightens concerns about Meta’s heavy investment in AI. It suggests that the company’s push for automation might be outpacing the technology’s readiness to handle such critical tasks safely.

  • Alibaba’s AI Chatbot Qwen Pauses Amid Surging Coupon Demand in Promotional Blitz

    Alibaba’s AI Chatbot Qwen Pauses Amid Surging Coupon Demand in Promotional Blitz

    Alibaba’s artificial intelligence chatbot, Qwen, recently hit a snag in its service. An overwhelming response from customers resulted in a suspension of the coupon-issuing function, which in turn interrupted a promotional campaign aimed at expanding Qwen’s capabilities beyond simple shopping assistance.

    From Qwen to Customers

    The situation kicked off on a hopeful note last Friday when Qwen began distributing coupons for in-app purchases on Alibaba’s retail platforms, with these transactions being managed via the chatbot’s prompts. This initiative marked the initial stage of a grand 3-billion-yuan (equivalent to about US$433 million) plan. The objective was to draw in a larger user base to the chatbot during China’s annual Spring Festival holiday.

    Since the previous month, Alibaba’s goal has been to evolve Qwen into a comprehensive solution where users could access the company’s other apps directly, completing payments seamlessly within the chatbot interface. This strategy is akin to how Google has integrated its Gemini chatbot within applications such as Maps.

    Technical Difficulties

    However, a few cracks started to appear in this grand plan. The launch of Qwen’s Agentic AI strategy, as Alibaba named it, encountered technical difficulties right from the onset of the coupon giveaway.

    Alibaba reported that a staggering 10 million orders were placed within a mere nine hours of the campaign’s launch. Consequently, an influx of orders over the weekend led to Qwen announcing on its official Weibo channel that it was overloaded. The chatbot humbly requested users to pause their interactions to allow for system recovery.

    By Monday, repeated purchase prompts were met with different versions of a refusal message, blaming user oversubscription for the issue.

    Qwen addressed the situation with a message saying, “Everyone’s enthusiasm for experiencing AI shopping is too high! Currently there are too many participants in ‘Qwen free order’, we are working tirelessly to maintain the campaign’s experience.”

    Despite the hiccup, Qwen assured shoppers that they would still have time to redeem their coupons, as they would remain valid until February 28. Alibaba, however, chose to remain silent on the specifics of the technical difficulties.

    Questions & Answers

    What is Alibaba’s Qwen?
    Qwen is an artificial intelligence chatbot created by Alibaba to assist users in shopping and to serve as a central hub for accessing the company’s various apps.

    What were the issues faced by Qwen?
    During a promotional campaign, Qwen experienced an overload due to overwhelming response from customers. This resulted in a temporary halt to the issuance of coupons and created technical difficulties in managing the influx of orders.

    What is the validity period for the coupons issued by Qwen?
    Despite the issues faced, Qwen assured users that their coupons would remain valid until February 28.

  • Revolutionize Your Viewing: YouTube Tests AI Chatbot for Personalized Home Feed Customization

    Revolutionize Your Viewing: YouTube Tests AI Chatbot for Personalized Home Feed Customization

    YouTube is in the process of testing an Artificial Intelligence (AI) chatbot aimed at enhancing your home feed to better align with your video preferences. This development seeks to address the limitations currently presented by the platform’s algorithm, allowing you a greater degree of control over your feed.

    Algorithm Limitations and the Role of AI

    Your YouTube home feed is largely shaped by the platform’s algorithm. This algorithm works by continuously monitoring your viewing habits, the content you have previously liked or disliked, and the YouTube channels you follow. Despite its effectiveness, this system has its flaws as it can lead to an over-saturated feed based on a fleeting interest.

    For instance, viewing a few Marvel-related videos may lead the algorithm to categorize you as a die-hard Marvel fan and subsequently fill your home feed with Marvel content. YouTube is acknowledging this limitation and is experimenting with an AI chatbot that allows you to specify the type of content you wish to view.

    Introducing Your Custom Feed

    YouTube is testing a new feature, “Your Custom Feed,” which allows you to customize your home feed. Users involved in the experiment will find this feature on their home page. This feature allows you to update your feed recommendations based on simple prompts. This innovation is intended to provide an easy means of exerting greater control over your suggested content.

    Accessing the AI chatbot is as simple as tapping “Your Custom Feed” next to the Home option on your YouTube main page. You can then enter a prompt detailing the type of videos you wish to see on your home feed. This change will reset your current YouTube home feed to better reflect your stated preference.

    AI and Custom Feed

    YouTube is not alone in utilizing AI to help users customize their feeds. Platforms are increasingly using AI chatbots or manual topic selection to tailor content to users’ preferences, providing more control over content than relying solely on algorithms.

    However, it is worth noting that as technology giants like Google begin to integrate AI tools into their products, they are likely to use the data shared with these chatbots to train their AI models. This data-sharing means users may inadvertently become a source for training AI systems.

    Respecting User Preferences

    While some users may appreciate the more personalized feed offered by AI technologies, others may prefer to browse un-curated content. It is hoped that should this feature become widely available, Google will allow users to opt-out, respecting the preferences of users who do not wish to have their viewing habits learned by AI.

    Other User-Controlled Features

    YouTube has been taking steps to give users more control over their feeds. For instance, there is the “Customize Your Feed” option that occasionally appears on the home feed, which asks users to select their preferred types of videos. YouTube also frequently asks if you like a particular post or video to determine if it should show you similar content in your feed.

    In addition, YouTube introduced an option to remove pop-ups such as “subscribe to the channel” or “watch another video” that appear at the end of a video. These innovations suggest that YouTube is committed to refining the user experience on its platform.

    Questions & Answers

    What is YouTube doing to improve the user experience?
    YouTube is experimenting with an AI chatbot that allows users to customize their home feed. This gives users more control over their feed, addressing limitations of the platform’s algorithm.

    How can users interact with the AI chatbot?
    Users can interact with the chatbot by tapping the “Your Custom Feed” feature found on their home page. They can then enter a prompt detailing the type of videos they wish to see on their home feed.

    What if users do not wish to have AI learn their viewing habits?
    YouTube hopes to respect the preferences of all users. Should the AI feature become widely available, it is anticipated that users who do not wish to have AI learn their viewing habits will have the option to disable the feature.

  • Meta’s AI Chatbot: Revolutionizing Ad Targeting with User Conversations

    Meta’s AI Chatbot: Revolutionizing Ad Targeting with User Conversations

    Meta, the technology powerhouse, has revealed a major transformation in its advertising approach, indicating that it plans to utilize user engagement with its Meta AI chatbot to improve the accuracy and customization of its ad targeting. The objective of this initiative is to augment the company’s efficiency in marketing products and services to its extensive user community.

    Meta pointed out that user dialogues and input within the Meta AI environment will form a novel and potent data source for its advertising platform. This policy is set to be officially implemented on December 16.

    Meta already utilizes complex tactics—including the examination of posts, analysis of click history, and understanding of network relationships throughout its social media ecosystem—to deduce consumer interest. However, the discussions with the Meta AI chatbot provide a level of direct, explicit data that simply has no match.

    Users could voluntarily reveal information about specific items they are actively seeking, travel arrangements they are planning, or personal problems that a product being advertised could conceivably resolve. This direct intent is significantly more valuable than the inferred data, allowing Meta to construct highly personalized ad profiles.

    Apart from advertising, the data gathered from interactions with Meta AI will also be employed to fine-tune and personalize the content feed that users view across Meta’s diverse platforms. This strengthens the chatbot’s position as a crucial instrument in shaping the overall user experience and commercial strategy.

    Questions & Answers

    What changes is Meta making to its advertising strategy?
    Meta is planning to use user interactions with its AI chatbot to improve the accuracy and customization of its ad targeting.

    How does this new strategy differ from Meta’s existing methods of ad targeting?
    While Meta already uses complex methods to deduce consumer interests, such as analyzing posts, click history, and network relationships, this new strategy will provide a more direct and explicit level of data.

    What other uses does Meta have for the data collected from its AI chatbot interactions?
    Beyond advertising, the data collected from AI chatbot interactions will be used to personalize the content feed that users view across Meta’s various platforms.

  • Google’s Gemini Chatbot: New Updates To Address Speech Recognition Limitations

    Google’s Gemini Chatbot: New Updates To Address Speech Recognition Limitations

    Google’s Gemini, an impressive AI chatbot, possesses a vast reservoir of knowledge and an uncanny retention ability, so much so that it can recall a single line spoken in a TV program aired over 54 years ago. Gemini can be accessed via its dedicated app on both Android and iOS, or it can replace the Google Assistant on your Android phone. However, users have found that if the question posed to Gemini is too long, the chatbot might cut them off before the query is fully delivered.

    The Importance of Pauses

    While users can opt to input their questions manually on the keyboard, Gemini’s voice recognition feature offers a more convenient option for those who prefer to speak their queries. The chatbot, a product of engineering powerhouse Google, is quite accurate at transcribing dictated information. One limitation, however, is its inability to understand the natural pauses that occur during speech, possibly because as an AI, it doesn’t require breathing.

    If the query is delivered at a slow pace or with frequent pauses, Gemini may assume that the question is complete and prematurely cut off the user. This can be frustrating, especially for users who prefer to speak their questions.

    Updates on the Horizon

    Recently, however, there has been a discovery that Google may be working to alleviate this issue. In version 16.42.61 of the Google app, a feature was found that allows users to keep the microphone on and active in the Gemini chatbot until it is manually turned off. This new feature prompts users to “Long press the mic to keep it open.” Once the mic is locked in this manner, it will continue listening until the user chooses to stop it.

    With this feature, the microphone icon transforms into a “stop” icon once locked on. To unlock the mic and end the question, users only need to tap the stop button, prompting Gemini to begin processing the query. It’s important to note that this feature does not affect Gemini Live, a function designed for back-and-forth conversations with the chatbot. Other updates include a new overlay input box for Gemini and a floating button for Gemini Live.

    As of now, there is no confirmed timeline for when these updates will be available to Gemini users. The Gemini app can be downloaded from the Google Play Store for Android devices and from the App Store for iPhones.

    Additional Features

    In addition to its knowledge and voice recognition abilities, Gemini now also includes the ability to set alarms and timers on Android. Users can switch to Gemini from Google Assistant by adjusting the settings on their Android device. The necessary software adaptations have been implemented to grant this functionality. Moreover, with the help of the Utilities extension within the Gemini app, the chatbot can control device settings such as Wi-Fi, Bluetooth, the flashlight, and the phone’s volume.

    Questions & Answers

    What is Google’s Gemini?
    Google’s Gemini is a chatbot that can be accessed via a dedicated app on both Android and iOS devices, or it can replace the Google Assistant on your Android phone.

    What limitations does Google’s Gemini currently have?
    One of the primary limitations of Gemini is its inability to understand natural pauses that occur during speech. If a query is delivered slowly or with frequent pauses, Gemini might prematurely assume the question is complete and cut off the user.

    What new features is Google planning to add to Gemini?
    Google is planning to add a feature that allows users to keep the microphone on and active until it’s manually turned off. This feature is designed to prevent Gemini from prematurely ending the user’s query due to long pauses. Other updates include a new overlay input box and a floating button for Gemini Live.

  • Alibaba Unveils Ai Chatbot Assistant And Announces Quark Ai Glasses Pre-sales

    Alibaba Unveils Ai Chatbot Assistant And Announces Quark Ai Glasses Pre-sales

    On Thursday, Alibaba, the Chinese e-commerce giant, unveiled a novel AI chatbot assistant service, amplifying its efforts to solidify its presence in a consumer-centric domain presently dominated by ByteDance and Tencent.

    Integration of AI Chatbot Into Quark App

    Alibaba has integrated this innovative chat assistant into its Quark app, which was originally a browser but was repurposed this year as Alibaba’s principal consumer application. This transformation has led to the integration of enhanced artificial intelligence capabilities, such as advanced search functions.

    The newly introduced service, available free of charge, empowers users to interact with a chatbot interface through text or voice, offering real-time information and services, Alibaba explained in an official statement.

    AI Efforts by Alibaba

    Historically, Alibaba’s AI ventures have been predominantly aimed at corporate clients via its cloud services division. This new endeavour represents yet another attempt by the company to captivate consumers in a market where it has found it challenging to gain a foothold with its Tongyi AI assistant app.

    Despite being one of the pioneering Chinese corporations to introduce a consumer-oriented AI assistant app to the public in late 2023, Tongyi has not achieved widespread acceptance so far. In September, the app had 6.96 million monthly active users, in contrast to the market leader ByteDance’s Doubao, which boasted 150 million active users.

    Global AI Assistants Trend

    On the global front, AI assistants have been increasing in popularity for companies like Google, Microsoft, and OpenAI, which have incorporated them into their respective Gemini, Copilot, and ChatGPT platforms.

    The Quark’s AI chat assistant, driven by Alibaba’s most recent Qwen3 models, provides improved reasoning, comprehension, and task execution capabilities, Alibaba stated.

    Announcement of Quark AI Glasses Pre-sales

    On the same day of the AI chatbot assistant service launch, Alibaba also announced that pre-sales for its Quark AI Glasses would commence at midnight on Friday on its Tmall e-commerce platform. The company also added that it would start delivering orders progressively from December, pricing the glasses at 4699 yuan (US$659.69).

    Alibaba revealed its intelligent glasses in July, thereby joining the ranks of companies like Meta Platforms in the wearable AI devices market.

    Questions & Answers

    What is the latest innovation from Alibaba?
    Alibaba recently launched an AI chatbot assistant service, which has been integrated into its Quark app.

    What is the purpose of Alibaba’s AI chatbot assistant service?
    The service allows users to interact with a chatbot interface via text or voice, providing real-time information and services.

    What product is Alibaba releasing for pre-sales on its Tmall platform?
    Alibaba announced pre-sales for its Quark AI Glasses on its Tmall e-commerce platform.

  • Boomtime ahead for chatbots in E-commerce

    Boomtime ahead for chatbots in E-commerce

    New data from Juniper Research predicts consumer interaction with chatbots in retail will reach 22 billion by 2023.

    The figure represents a sharp increase over an estimated 2.6 billion interactions this year.

    According to the new research report “AI in Retail: Segment Analysis, Vendor Positioning & Market Forecasts 2019-2023”, chatbots in retail will enable effectively automated customer interactions for both online and offline vendors.

    A crucial enabler of this development will be improvements in NLP (Natural Language Processing), which will dramatically reduce the failure rate of chatbot interactions, by making them more natural and valuable for customers.

    Juniper anticipates that retailers who do not adopt chatbots will face strong challenges from more technologically-adept disruptors, who will use chatbots as an extension to the crucial omnichannel retail experience.

    The research also found that chatbots used for customer service have a strong potential to reduce costs; with deployments realizing annual savings for retailers of US$439 million globally by 2023, up from just $7 million this year.

    These potential savings will act as a key “pull” factor, given the margin pressure that many retailers are presently feeling.

    “By embracing automated customer service with chatbots, retailers can act in a more flexible and efficient way,” explained research author Nick Maynard. “The wider retail market means that chatbots are no longer a luxury, they are essential.”

    Meanwhile, sales resulting from interaction with chatbots in retail will reach $112 billion by 2023, up from $7.3 billion this year; representing an annual growth rate of 98 percent.

    The research found these sales will largely be a result of migration from other channels, rather than a new revenue stream. Accordingly, the research emphasized that while retailers must adopt chatbots for ease of use (and to reduce consumer churn), their return on investment will come from efficiencies, rather than new income.

  • DBS makes foray into chat commerce with “Foodster”

    DBS makes foray into chat commerce with “Foodster”

    DBS Bank has launched Southeast Asia’s first bank-led retail chatbot, Foodster.

    The chat-commerce service allows customers to order and pay for their meals via Facebook Messenger and DBS payment channels, including DBS PayLah! and DBS/POSB cards. It has been test-bedded with seven food and beverage merchants around DBS’ Marina Bay headquarters with positive results.

    Kopi Ong, which sells quick-serve beverages, was the first merchant to test the Foodster solution. Since then, the business has seen daily sales grow by 20 per cent without additional manpower or space required.

    Chat commerce – e-commerce using chat or messaging platforms – allows businesses to transact within platforms that already have a large pool of captive users. With 77 per cent of Singapore’s population on mobile messaging platforms, chat commerce solutions such as Foodster allow businesses to literally become a part of the conversation by embedding DBS’ payments capabilities within chat platforms.

    The Foodster solution was developed with Artificial Intelligence/Machine Learning algorithms which allow it to become ‘smarter’ with every transaction. In addition, it allows merchants to implement targeted and personalised customer loyalty programmes on the platform with its rich data tools and analytics.

     

    DBS head of consumer banking group Jeremy Soo said: “If instant messaging is the way forward for people to communicate, then we need to help businesses find a way to engage their customers on such platforms simply, seamlessly and invisibly. We are aware that consumers today are more likely to have ‘app fatigue’ and have become resistant to downloading new mobile apps. And so as Singapore’s leader in payments with more than 4 million cards in circulation and the nation’s most popular mobile wallet – DBS PayLah! with more than 1 million users – we saw an opportunity to combine our strengths with Singapore’s most widely used social media platform.”

    In Asia Pacific, the chatbot market is forecast to generate revenues of around US$350 million by 2024, more than eight times last year’s figures.

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  • Citi rolls out Facebook Messenger bot in Singapore

    Citi rolls out Facebook Messenger bot in Singapore

    Citi has launched its first natural language chatbot for Facebook Messenger in Singapore ahead of a wider roll out around the world.

    The bot uses natural language processing to communicate with customers in an intuitive way, addressing their everyday questions about things like real-time account and transaction information.

    Citi says that it has been piloting the bot with 600 customers and employees to refine the service, which also covers credit card bill summaries, rewards and points balances and frequently asked questions.

    The bank has previously said that it plans a second phase to introduce more features such as card activation, ability to lock and unlock credit cards and transaction alerts for cards among others.

    “Facebook Messenger is an exciting new way to access Citi and will greatly enhance our overall customer experience’” says Anand Selva, head, Asia Pacific consumer banking, Citi.

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  • Louis Vuitton launches its Facebook chatbot

    Louis Vuitton launches its Facebook chatbot

    In a bid to think “client first”, Louis Vuitton has launched a chatbot on Facebook Messenger that advises shoppers on products, aiming to provide meaningful feedback during the busy holiday period.

    The bot is powered by mode.AI, which has also previously partnered with the likes of Levi’s with its artificial intelligence, visual search and machine learning technology.

    It aims to give clients a more “sophisticated, personalized, visual and conversational online shopping experience” via Facebook, where Louis Vuitton currently has more than 20 million followers.

    The main focus is on search– users can converse with the bot to discover the brand’s full line of products, as well as use it to get suggestions on specific items. It uses natural language processing to facilitate a more advanced search experience.

    They can also share items with friends directly through it, and get votes in return on what to buy. Additional services include info on stores worldwide, access to product care instructions and a conversational view on the brand itself, from its fashion shows to its history and the craftsmanship behind its products.

    LV

    Louis Vuitton CEO, Michael Burke, said: “At Louis Vuitton, we always think client first. Today, our clients like to be connected to the Louis Vuitton universe wherever they are. They shop in our stores worldwide and are often in contact with their personal shoppers. They also follow us on Facebook, Twitter, Instagram, etc. and find our products on louisvuitton.com. It became evident that we should create the Louis Vuitton Virtual Advisor powered by mode.ai, a 24h/7 service to be able to fully meet their needs.”

    “We are still in the very early stage of AI technology adoption in the retail industry. The dominance of e-commerce isn’t just a trend, but an ever-growing arena, giving luxury brands like Louis Vuitton the opportunity to reach and sell to their customers in new and exciting ways. As shoppers continue to move online, the most forward-thinking companies will turn to AI chatbot technology to meet these shifting client demands,” said mode.ai CEO Eitan Sharon.

    Burke added: “The [bot] is designed to increase the quality of the relationship we have with our clients by enhancing and personalizing the shopping experience. We see messaging platforms as future key drivers of conversations with our clients, and potential for the integration of artificial intelligence and chatbot technologies to further enhance service to clients across these new channels.”

    The experience is currently only available on Facebook Messenger in the US, but there are plans to roll it out to Europe and Japan next, as well as across additional platforms including WeChat and Line.

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  • Live Streaming, Gaming Apps And Chat Bots – Here Are 6 Trends We’re Excited For In 2017!

    Live Streaming, Gaming Apps And Chat Bots – Here Are 6 Trends We’re Excited For In 2017!

    As we enter into the new year, it seems only natural that we share all the Singapore technology trend in 2017 what we’re excited about, and what we foresee happening in the digital space this year.

    Here are our top 6 picks!

    1. The Rise Of Chat Bots

    Chat bots have been made popular especially since June 2016 – when Facebook launched them in Messenger.

    Over the past few months, developers have been experimenting with various chat bot use cases, and according to Facebook, while the early chat bot attempts by developers have been “really bad“, the quality of chat bots have generally improved over time.

    According to David Marcus, Facebook’s vice president of messaging products, the best use cases include driving people toward subscriptions, facilitating small transactions, and customer service.

    This year, we definitely expect companies in Singapore to come out with smart use cases for Chat Bots and integrate them into their product offerings. We also expect a rise of companies offering professional services around Chat Bots.

    2. Mega Apps

    One of the fastest growing regions in the world now is China – and if you have been following its development closely, the dominant platform now is undeniably WeChat.

    WeChat introduced the idea of “apps in apps” or “instant app”, and is literally the “one app to rule them all” in China.

    Its concept is very interesting, because with it, you can perform everything beyond just chatting with your contacts – from product purchases to payment, to joining interest clubs (WeChat has a fitness tracking feature called WeRun), to booking a cab and making restaurant reservations, there’s a high possibility of relying on the app for most everyday processes!

    If you are interested in finding out more, here are 10 WeChat travel industry case studies where companies integrating their business with WeChat’s platform – very fascinating.

    And who knows, we might just see a mega app in Singapore to rule them all this year.

    3. Breakout Gaming Apps

    The third thing we’re excited about this year is in the mobile gaming space.

    We’re expecting at least 2 or 3 mega breakout gaming apps this year. While we have no clue on what would pop up, we expect more gaming developers to take the cue from Pokemon GO’s brilliant use of augmented reality to create a real world interactive gaming experience. Pokemon GO was (still is) a game that transcends age, gender and race, and sets very high standards in the gaming community.

    We have yet to see a huge breakout gaming app from Singapore – and hopefully, 2017 is the year we will see one that will fly our Singapore flag high and proud in the global gaming arena.

    After all, there’s a dedicated area by the government called Pixel Studios dedicated to catalyse the creation of valuable gaming apps in Singapore.

    4. Smart Companies Taking Up Dead Retail Space

    One of the biggest trends is that retail vacancy is at its highest in decades. With recession (Singapore only reported an overall economic growth of 1% in 2016, and projects a growth of 1% this year) looming, as well as competition from e-commerce, it’s no wonder that retailers are unable to make ends meet, and some are even forced to move out from their physical locations.

    Of course, not all is doom and gloom though – we’re expecting resourceful and entrepreneurial individuals to negotiate contracts and/or deals with shopping mall operators which would be flexible and thus beneficial to the former.

    We expect smarter usage of spaces, with digital companies taking up physical locations around in Singapore as an extension of their business.

    Take Naiise for example. Originally a design centric e-commerce company, it has now expanded to 6 physical locations around in Singapore. Or take co-working space operator Spacemob for example, which raised almost S$8 Million in funding last year.

    Both Naiise and Spacemob are examples of smart innovators taking advantage of retail space in Singapore, and bringing the arrangement’s benefits to both space owners and consumers alike.

    5. Live Streaming

    Another space that we (ok, maybe just me) are personally very excited about is the live streaming space.

    At this moment, I think that we are still barely scratching the surface of the possibilities of live streaming. Live streaming is something different from usual platforms, and allows brands and personalities to appear more authentic and spontaneous. It also helps garner immediate interaction with the public – something which brands are all severely lacking nowadays, as they seem to chase quantity over quality.

    Another thing about live streaming is that it is completely powered by millennials, given how they often have FOMO (fear of missing out), and want to always be in-the-know of the latest trends and happenings. Where stock images and highly-edited content flood our social feed, live streamed content also offers experiences that are more ‘honest’.

    Live streaming has already exploded in China, but we have yet to see mainstream adoption in Singapore – but that’s something we’re expecting to change dramatically this year.

    6. Government Becoming Increasingly Digitised

    The last thing that we are excited about this year is that Singapore is becoming increasingly digitised.

    Taking the lead for digitising Singapore is GovTech, which sits under the newly-formed stat board IMDA. As the agency responsible for most of the digital applications used by the different government bodies, they are helping government services to move online and become mobile-friendly, all in the name of convenience for the average Singaporean.

    They also constantly monitor data from these e-Government services and get user feedback so as to keep improving what’s offered.

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