AI deals hit by funding winter but VCs eye fresh opportunities
Some see potential applications in e-commerce, fintech in South-east Asia
Add BT as a preferred source
SOUTH-EAST Asian venture capital firms (VCs) are on the hunt for opportunities to invest in artificial intelligence (AI) startups, with the breakthrough of ChatGPT stirring fresh excitement. This comes after funding into the sector took a hit last year from tough market conditions.
VCs invested US$12.3 billion into AI in Asia-Pacific last year, down 46.5 per cent from 2021, according to analytics company GlobalData. The deal count meanwhile fell 5.3 per cent to 1,087.
Investor sentiment took a hit globally across the board, with volatile market conditions, and the AI sector was no exception, said Aurojyoti Bose, lead analyst at GlobalData.
TRENDING NOW
Not retirement, but a rewiring and fresh perspectives post-DBS, says Piyush Gupta
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Hong Kong’s bad-debt bankers ramp up fire sales, liquidations as city’s distressed loan ratio hit a high
Power of payouts: A big chunk of the STI has just gone ex-dividend. What’s next?
