TikTok Secures Majority Stake in Tokopedia in US$840 Million Deal, Signals Reentry into Indonesian E-commerce
TikTok completes an $840 million deal to acquire a 75.01% stake in Indonesia’s leading e-commerce platform, Tokopedia, allowing the Chinese social media giant to re-enter the country’s online shopping sector. The partnership with Indonesian tech conglomerate GoTo positions TikTok to integrate its TikTok Shop’s Indonesia operations into Tokopedia, marking a strategic move to navigate the challenges posed by the...
Neuralink Successfully Implants Brain Interface in First Human Patient, Elon Musk Announces
Neuralink, Elon Musk’s startup, has achieved a milestone by successfully implanting a brain implant in its first human patient, demonstrating progress toward the goal of allowing humans to control computers with their minds. Named Telepathy, the brain implant aims to enable device control through thought alone, initially targeting users who have lost limb functionality. The success follows FDA approval for Neuralink’s...
Mastercard Launches Biometric Authentication Service to Enhance Security and Streamline Digital Interactions
Mastercard has introduced the Mastercard Biometric Authentication Service, leveraging FIDO standards, to replace traditional authentication methods and enhance the security and convenience of digital interactions. The service integrates biometrics, such as fingerprint or face recognition, making account logins, account changes, and payment processes more seamless, supporting all card brands and various forms of payments. 25 January...
Chinese E-Commerce App Temu Surprises with Popularity Among Boomers and Gen X Shoppers in the US
Chinese e-commerce app Temu has gained unexpected popularity among Baby Boomers and Generation X shoppers in the US during its first full year of operation, according to research by Attain. The app’s diverse product mix, discounts, and gamified shopping experience make it appealing to a wider demographic, challenging its initial reputation as a platform primarily for younger consumers. 25 January 2024 – Contrary to its...
Myanmar Central Bank Launches Awareness Campaign to Tackle Mobile Payment Fraud
Myanmar’s Central Bank is intensifying efforts to combat mobile payment fraud by conducting awareness campaigns and establishing an action task force in collaboration with relevant ministries and financial organizations. The initiative aims to swiftly respond to reported fraud cases, protect consumers, and ensure the widespread use of mobile financial services in compliance with laws and regulations. 25 January 2024 –...
Equinix and Nvidia Unveil Partnership Empowering Corporates with Direct Access to Advanced AI Computing Systems
Equinix and Nvidia have joined forces to provide corporate clients direct access to Nvidia’s supercomputing systems, enabling companies to own and control their artificial intelligence computing infrastructure. The collaboration addresses growing privacy concerns by allowing businesses to purchase Nvidia systems and delegate the operational responsibilities to Equinix while retaining ownership, offering an alternative to renting...
Global E-Commerce Platforms Market Set to Reach USD 21.0 Billion by 2032
The E-Commerce Platforms market is poised for substantial growth, projected to reach USD 21.0 billion by 2032 with a CAGR of 13.7% from its 2023 valuation of USD 6.8 billion. E-Commerce Platforms, empowering businesses for online retail operations, play a pivotal role in the global shift towards online shopping. The market is marked by continuous evolution, diverse solutions, and technological advancements, enhancing capabilities for...
Bitcoin Hits Seven-Week Low Below $40,000 Amid ETF Launch Fallout and Competition with Traditional Stocks
Bitcoin hit a seven-week low, dropping below $40,000 for the first time since the launch of 11 spot bitcoin exchange-traded funds on January 11. The decline, down 3.98%, coincided with the cryptocurrency market facing challenges competing with traditional stocks, as the S&P 500 index reached record highs. Analysts and market-watchers attribute the dip to a variety of factors, including the SEC’s approval of bitcoin ETFs,...
Global Video-Game Market Gears Up for Strong Recovery Driven by Xbox and PlayStation 5 Sales
Research firm NewZoo predicts a strong recovery in the global video-game market in 2024, with an anticipated 2.8% growth to $189.3 billion, following a marginal increase of 0.6% in the previous year. Sales of Microsoft’s Xbox and Sony’s PlayStation 5 consoles are expected to be key drivers, and while live-service games have played a significant role in revenue, there are signs of a shift towards premium games. The industry...
AI Startup ElevenLabs Achieves Unicorn Status with $80 Million Series B Funding
ElevenLabs, the AI startup based in London, has achieved unicorn status with a $1.1 billion valuation following an $80 million Series B funding round led by Andreessen Horowitz. The two-year-old company specializes in AI-generated voices and plans to expand its workforce from 40 to 100 employees by the end of the year. With a growing customer base, including partnerships with Storytel and The Washington Post, ElevenLabs aims to...
CD Projekt Initiates Production on Next “Witcher” Game, “Polaris”, Amid Plans for Expansion
CD Projekt announces the commencement of production for the next installment in the “Witcher” series, named “Polaris.” With plans to have 400 team members on the project by mid-year, the trilogy expands the medieval fantasy franchise, and analysts predict a 2026 or 2027 debut. The company is also in the conceptual phase for a “Cyberpunk” sequel, “Orion,” with considerations for...
User Enrollment Surges as Interest in Generative AI Takes Center Stage
Coursera, a prominent U.S. edutech platform, reports a surge in user enrollment for AI courses in 2023, particularly in generative AI. CEO Jeff Maggioncalda highlights the platform’s commitment to collaborating with industry leaders and providing personalized education through AI assistants. The success contradicts initial concerns, showcasing a growing interest in upskilling within the evolving landscape of artificial...
Digital Momentum: Indonesia’s E-Commerce Sector Surpasses $29 Billion in Transactions Despite Value Dip
Indonesia’s e-commerce sector reports transactions worth $29 billion in 2023, with a slight decrease in value but a significant rise in transaction volume. Digital banking services and transactions through digital payment platforms show robust growth, reflecting the country’s dynamic digital landscape and the government’s push for digitalization. 18 January 2024 – Indonesia’s thriving e-commerce sector...
OpenAI Launches ‘Collective Alignment’ Team to Democratize Governance of AI and Address Bias Concerns
OpenAI addresses governance and bias concerns in AI by establishing the “Collective Alignment” team, dedicated to creating democratic processes for governing its AI models. The team aims to involve individuals directly in shaping the governance of AI, ensuring inclusivity and diverse perspectives as AI technologies become increasingly integrated into society. 17 January 2024 – Artificial intelligence laboratory...
Mastercard Unveils Small Business AI: Pioneering Global Mentorship for Entrepreneurs
Mastercard introduces Small Business AI, an innovative tool designed to offer personalized guidance and mentorship for small business owners globally, addressing their unique challenges. Partnering with Create Labs and a global media coalition, the tool emphasizes inclusivity and is set to pilot in the U.S. with plans for international expansion. 11 January 2024 – In a strategic move to bolster small businesses worldwide,...
Nvidia’s H20 AI Chip to Enter Mass Production in Q2 2024 for Compliance with U.S. Export Rules
Nvidia plans to commence mass production of its H20 artificial intelligence (AI) chip in Q2 2024, tailored for China to comply with U.S. export rules. The H20, part of three chips developed by Nvidia for this purpose, faces initial reluctance from Chinese companies, who are exploring domestic alternatives amid concerns of potential tightening of U.S. restrictions. 8 January 2024 – U.S. semiconductor giant Nvidia (NVDA.O) is set...
TikTok Sets Sights on $17.5 Billion US E-commerce Surge in 2024, Posing a Formidable Challenge to Amazon
TikTok, owned by ByteDance, eyes a tenfold surge in its US e-commerce business, targeting $17.5 billion in 2024. This ambitious goal intensifies competition with Amazon, as TikTok leverages its unique blend of entertainment and e-commerce through TikTok Shop. The platform’s global expansion, increased merchant fees, and growing user base position TikTok as a formidable player in the evolving e-commerce landscape. 6 January 2024...
Ant Group Advances Western Foothold with MultiSafepay Acquisition in $200 Million Deal
Ant Group, an affiliate of Alibaba, is on the verge of acquiring Dutch payments firm MultiSafepay for around $200 million, as part of its strategic expansion into Western payment markets. The deal, subject to regulatory approval, follows Ant Group’s previous acquisitions, signaling its commitment to strengthening its position in the global financial technology landscape. 6 January 2024 – Ant Group, an affiliate of Alibaba...
SonicWall Reinforces Cloud Defense Capabilities through Strategic Acquisition of Banyan Security
SonicWall has acquired Banyan Security to fortify its cybersecurity portfolio, integrating zero trust security solutions into its offerings for businesses of all sizes. The move aligns with SonicWall’s focus on adaptive, cloud-centric cybersecurity, providing comprehensive Secure Access Service Edge (SASE) solutions. 4 January 2024 – SonicWall, a global leader in cybersecurity, has announced the strategic acquisition of...
Intel Forges Ahead in AI Innovation with Launch of Articul8, Backed by DigitalBridge and Diverse Investor Group
Intel has unveiled the creation of Articul8 AI, an independent company focused on artificial intelligence (AI) software, with support from investors including DigitalBridge Group. The move reflects Intel’s commitment to advancing AI technology, addressing concerns around data privacy, and providing scalable and cost-effective generative AI solutions for businesses seeking production-level integration. 3 January 2024 –...
