Industry News

QuikBot Technologies, a leader in autonomous final-mile logistics, has partnered with the Dubai Integrated Economic Zones Authority (DIEZ) to introduce its Autonomous Final-Mile Delivery Platform-as-a-Service (AFMD PaaS) at Dubai Silicon Oasis.

Announced at GITEX Asia 2025 in Singapore, this collaboration marks QuikBot’s entry into the Middle East market, enhancing Singapore’s reputation as a global smart urban technology exporter.

The pilot phase will see QuikBot’s delivery robots deployed in Dubai Digital Park, a mixed-use commercial zone within Dubai Silicon Oasis. The robots, designed for seamless indoor and outdoor navigation, will operate across eight four-storey buildings, including business, hospitality, and retail facilities. Future expansions will cover residential towers, a private hospital, and a university, with the Dubai Silicon Oasis Headquarters as a key testing site for enterprise-grade logistics.

Badr Buhannad, Deputy Director General of Dubai Silicon Oasis, expressed enthusiasm for the partnership, stating, “We are delighted to welcome QuikBot Technologies to Dubai Silicon Oasis and inaugurate their MENA headquarters as part of our commitment to fostering innovation and enabling future-ready technologies.”

The project aims to improve delivery efficiency, reduce operational costs, and promote sustainability, offering a scalable model for other districts. Alan Ng, Founder and CEO of QuikBot Technologies, highlighted the global impact, saying, “This collaboration demonstrates how a Singapore-designed solution can address real urban challenges on a global stage.”

QuikBot’s AFMD PaaS, featuring electric, AI-powered robots, addresses urban logistics challenges by reducing emissions and congestion. The system’s real-time route optimisation and dynamic scheduling make it a scalable solution for dense urban environments. This initiative builds on QuikBot’s successful deployments in Singapore and positions the company to expand its platform globally.
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Singaporean enterprises are eager to integrate artificial intelligence (AI) into their financial processes, yet high implementation costs and a shortage of skilled tech professionals are proving to be substantial obstacles.

This is the key finding from a recent study by financial technology leader FIS and Oxford Economics. The research highlights that 80% of businesses in Singapore struggle with the financial burden of AI adoption, whilst 70% cite a lack of in-house expertise as a major barrier.

The study, which surveyed C-suite executives across the US, UK, and Singapore, reveals that despite these challenges, over half of Singaporean firms are scaling or fully implementing AI technologies. Andrew Murray, Head of International Banking & Payments at FIS, emphasised the necessity of AI adoption, stating, “Enterprise-wide AI adoption is no longer a choice but a necessity for businesses looking to stay competitive in Singapore.”

Additional findings indicate that Singapore businesses are losing an average of $95.7m annually due to cyber threats, fraud, and regulatory inefficiencies. Cyber threats and fraud are particularly pressing, with 27% of leaders encountering cyber threats daily. To combat these issues, 40% of businesses have adopted AI tools for fraud prevention, and 58% are investing in advanced fraud detection technologies.

Bianca Fisher, Research Manager at Oxford Economics, noted the study’s significance, saying, “This unique analysis has allowed us to identify the cost of financial disharmony and how it can hinder organisational growth and innovation.” The full survey results are expected to be released at FIS’s annual Emerald conference in May, providing further insights into the challenges and opportunities of AI adoption in Singapore.
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Multipolitan has launched its Crypto Report 2025, introducing the first-ever Crypto-Friendly Cities Index. The report highlights global hotspots attracting crypto wealth, innovation, and talent, with Ljubljana, Hong Kong, Zurich, Singapore, and Abu Dhabi leading the list. The report underscores a significant generational shift, with Millennials and Gen Z allocating up to 17% of their portfolios to cryptocurrencies—three times more than Baby Boomers.

The report, titled “The Future is On-Chain,” explores how geopolitical shifts and regulatory changes are reshaping digital wealth creation and management. Nirbhay Handa, CEO of Multipolitan, remarked, “We’re moving from birthrights to choices—where individuals pick the jurisdictions, currencies, and communities that serve them best.”

Key findings include the rise of crypto whales relocating to tax-neutral jurisdictions such as the UAE, Portugal, and Oman, and the pioneering efforts of countries like Estonia, South Korea, and Palau in blockchain-based governance. The tokenisation market is projected to exceed $2 trillion by 2030, transforming asset management practices.

The report also highlights how blockchain is enabling borderless entrepreneurship and decentralised governance, with countries like El Salvador and Estonia adopting innovative digital strategies. As the digital finance landscape evolves, Multipolitan aims to assist high-net-worth individuals in navigating international mobility complexities. The full report is available for download, offering insights into the future of global finance and governance.
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The Direct-to-Consumer (D2C) sector in Southeast Asia (SEA) has experienced a remarkable surge in funding, reaching $32.5m in 2024—a threefold increase from the previous year. This growth comes amidst a global decline in D2C funding, which fell by 25% to $3.9b in 2024. The SEA region’s resilience is highlighted by its ability to attract investment despite a broader 55% drop in the overall tech ecosystem funding.

Singapore emerged as the seventh highest-funded country globally in the D2C sector, raising $19.5m in 2024. The US topped the list with $2.53b, followed by India and Finland. AC Ventures, Jungle Ventures, and Accel were identified as the top investors in the region, with a focus on small-ticket rounds.

The report, released by Tracxn Technologies, reveals that seed-stage funding in SEA skyrocketed by 300% to $3m, whilst late-stage funding reached $19.5m, marking a significant recovery from 2023, which saw no late-stage investments. Beauty and fashion startups have been particularly attractive to investors, with Singapore and Indonesia leading the charge.

The Ayurveda Experience, an online platform for Ayurvedic beauty products, secured the largest single investment in the region with a $15m Series C round. Despite the funding growth, the sector did not see any new unicorns or acquisitions in 2024, and the IPO landscape remained inactive.

Southeast Asia’s D2C sector continues to benefit from rising manufacturing investments and favourable policies, positioning the region as a promising hub for digitally native brands.

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Singapore’s property market is poised for a significant test as concerns about a potential economic slowdown loom. The market, closely linked to the country’s GDP and employment rates, is expected to face challenges, according to a
DBS Group Research report.

Analysts suggest that shifts in unemployment rates and housing affordability will be key indicators to watch, with relative value anticipated in the Core Central Region (CCR), private resale, and landed property segments.

The report revises property price growth expectations to 0-1%, down from an earlier forecast of 1-2%.

Despite this, transaction volumes are expected to remain in line with estimates. Property agencies with diversified income streams and developers with substantial pre-sold inventory are predicted to show greater resilience in the face of these challenges.

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The Singapore Department of Statistics has reported a marginal decline of 0.1% in the Consumer Price Index (CPI) for March 2025 compared to the previous month.

Despite this monthly dip, the CPI has risen by 0.9% compared to March 2024, indicating a modest annual increase.

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The Global Pulse Confederation (GPC) is set to host Pulses 25, a major event for the pulse industry, at the Fairmont Hotel in Singapore from 20 to 22 May 2025. This gathering will bring together over 700 key players from around the world to exchange insights, explore emerging trends, and unlock strategic business opportunities in the rapidly evolving global pulse trade.

As the leading body for the global pulses industry, GPC is committed to promoting sustainable production, consumption, and trade of pulses. With members in over 50 countries, GPC collaborates with international organisations such as the Food and Agriculture Organisation and the World Health Organisation to advocate for pulses as essential to food security and climate-resilient food systems. Pulses 25 will provide delegates with access to a global network spanning major pulse-producing nations, including Australia, Brazil, Canada, and India.

The event will feature panels led by global experts on topics such as price trends, supply dynamics, and demand forecasts. These sessions aim to equip participants with the market intelligence needed for informed decision-making. Additionally, the conference will highlight innovations in plant-based foods and the role of pulses in sustainable agriculture.

Notable speakers include Murad Al Katib, President and CEO of AGT Food and Ingredients Inc., and Anuj Maheshwari, Managing Director of Temasek. Vijay Iyengar, President of GPC, stated, “Pulses 25 is a convergence of ideas, innovation, and opportunity. We aim to not only unlock new trade pathways but also champion the vital role of pulses in building a resilient and inclusive global food system.”

Pulses 25 promises to be more than just a conference, offering strategic business opportunities for all stakeholders in the pulse value chain. The event will run from 09:00 to 21:00 on 20 May, 10:00 to 16:45 on 21 May, and 10:00 to 19:40 on 22 May.
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Singapore is taking significant strides in the cybersecurity sector, with three local companies—cloudsineAI, Cyber Sierra, and pQCee—leading the charge against emerging global threats. As cybercrime costs are projected to soar to $105t by 2025, these firms are developing advanced solutions to address vulnerabilities that traditional cybersecurity measures struggle to cover.

cloudsineAI has introduced a GenAI firewall designed to protect against threats specific to generative AI applications. This firewall employs a unique ShieldPrompt multilayered defence, scanning both user inputs and AI-generated outputs to prevent harmful content. Cyber Sierra, meanwhile, offers an AI-driven platform that integrates Cyber Governance, Risk Management, and Compliance (GRC) with Continuous Controls Monitoring (CCM), enhancing organisational compliance and risk management. pQCee’s SafeQuard tool provides quantum-safe encryption, safeguarding sensitive data against future quantum decryption threats.

These innovations are supported by the CyberSG Talent Innovation and Growth Collaboration Centre, a $15m initiative by the National University of Singapore (NUS) and the Cyber Security Agency of Singapore (CSA). The Centre aims to bolster Singapore’s position as a cybersecurity hub and will showcase these solutions at the RSA Conference 2025 in San Francisco.

Associate Professor Benjamin Tee of NUS Enterprise highlighted the Centre’s role in driving global cybersecurity innovation, stating, “We support companies developing advanced digital infrastructure protection, strengthening our nation’s defences whilst empowering collaborative global efforts against a rising tide of cyberattacks.”

As Singapore positions itself as a strategic gateway to Asia’s digital economy, these pioneering efforts underscore its commitment to addressing the evolving landscape of cybersecurity threats.
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Singlife has unveiled two innovative personal accident insurance plans, Singlife Family Accident Care and Singlife Accident Care, aimed at providing comprehensive protection for families and individuals. Singlife Family Accident Care is the market’s first personal accident plan offering a shared coverage limit for families, making it more affordable than individual policies. Families can benefit from coverage options of S$500,000 or S$1m for accidental death and dismemberment, with up to six family members covered. Additionally, a premium discount of up to 50% is available for children added to the policy.

For individuals, Singlife Accident Care offers coverage limits of up to S$3m for accidental death and dismemberment, addressing the financial burdens and income replacement needs that may arise from severe accidents. This plan also provides coverage up to the age of 99, one of the longest periods available in the market.

Both plans include unique benefits such as the Life Stage Event Benefit, which provides an additional lump sum payout for accidental death or total and permanent disability occurring 12 months after a significant life event. The Annual Leave Compensation Benefit offers a cash benefit of S$100 per day if the insured is hospitalised for four days or more, and a family member takes annual leave to provide care. Coverage extends to conditions like food poisoning, 21 infectious diseases, and injuries from recreational sports.

Helen Shen, Group Head of Products at Singlife, stated, “Singlife Family Accident Care, with its unique shared coverage limit and discount for children, offers an affordable yet robust solution to safeguard the entire family.”

These new offerings highlight Singlife’s commitment to providing accessible and comprehensive protection across various life stages.
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SC Ventures, the innovation arm of Standard Chartered, has completed two significant projects with Singapore’s Agency for Science, Technology, and Research (A*STAR) to advance AI applications in regulatory compliance. These initiatives, under a Memorandum of Understanding with A*STAR’s Institute of High Performance Computing, aim to create innovative intellectual property and explore the practical use of Large Language Models (LLMs).

The first project focused on automating the mapping of regulatory obligations to enterprises using AI and Generative AI (GenAI). This effort addressed the complexities of regulatory changes in the financial sector by employing A*STAR IHPC’s expertise in GenAI, enhancing response quality and accuracy whilst reducing biases. The project utilised LLM and Retrieval Augmented Generation capabilities to analyse regulatory changes and their business implications.

The second project investigated ‘Fairness in AI’, establishing metrics to ensure AI systems remain impartial and equitable. This research is crucial as data and societal values evolve, ensuring AI solutions are trusted and transparent. Dr Mohammed Rahim, Group Chief Data Officer at Standard Chartered, emphasised the importance of addressing biases to foster innovation and trust in AI systems.

Thorsten Neumann, Venture Technology Lead at SC Ventures, expressed enthusiasm for exploring complex AI challenges, stating, “We are truly excited about this opportunity to go deeper into the complex problems of RAG accuracy, processing on unstructured data, evaluating novel algorithms and learning about data pipelines, and their fairness in AI and GenAI solutions.”

The collaboration signifies a commitment to leveraging scientific research for commercial success, with both organisations planning to further investigate GenAI’s potential in financial services. Dr Rick Goh, Department Director of Computing & Intelligence at A*STAR IHPC, highlighted the partnership’s potential to tackle real-world challenges, stating, “This milestone with SC Ventures exemplifies how research institutions and financial innovators can effectively tackle complex real-world challenges together.”
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