Ecosystem Roundup: AI firms face growing security threats | Delivery Hero flags potential EU antitrust fine

Ecosystem Roundup: AI firms face growing security threats | Delivery Hero flags potential EU antitrust fine

Open AI founder Sam Altman

Dear reader,

The recent breach at OpenAI, while superficial, underscores the increasing value of AI companies as prime targets for hackers.

Although the hack was limited to an employee discussion forum, it serves as a stark reminder of the sensitive nature of data AI firms handle. The significance of this breach is not in its immediate impact but in the potential vulnerabilities it exposes. AI companies like OpenAI possess vast amounts of valuable data, including high-quality training datasets, extensive user interaction logs, and sensitive customer information.

The training data, meticulously curated from various sources, is crucial for developing advanced models and is highly coveted by competitors and regulatory bodies alike.

Moreover, the user data generated through interactions with AI, such as ChatGPT, offers deep insights into user behavior, preferences, and needs, far surpassing traditional search data in value. This data is not only invaluable to developers but also to marketers, analysts, and consultants.

Lastly, the customer data used to fine-tune AI models represents another layer of critical information, often involving confidential internal databases.

The breach highlights the ongoing security challenges faced by AI companies and the necessity for robust protective measures. As these firms continue to grow and integrate deeper into various industries, their security practices must evolve to safeguard against increasingly sophisticated cyber threats.

Sainul,
Editor.

—-

NEWS

A hacker stole OpenAI secrets, raising fears that China could, too
A security breach at the maker of ChatGPT last year revealed internal discussions among researchers and other employees, but not the code behind OpenAI’s systems.

Delivery Hero flags potential EU antitrust fine, shares slide
The potential fine would be for “alleged anti-competitive agreement to share national markets, exchanges of commercially sensitive information and no-poach agreements”.

Investors chase wealthtech startups in India as affluent class grows
The high-net-worth and ultra-high-net-worth segments are booming in India; Only about 50-55% of India’s wealth management market is currently under professional management.

India’s CoinDCX acquires BitOasis in international expansion push
BitOasis’s team is joining CoinDCX the cryptocurrency exchange, with the original leadership continuing to manage the exchange, which offers trading in more than 60 tokens; BitOasis will also retain its branding.

Clime Capital invests US$10M in Vietnamese rooftop solar startup Nami
Nami provides solutions, such as battery storage and energy efficiency measures, to commercial and industrial clients in Vietnam; It enables businesses to access lower-cost and sustainable power without upfront or ongoing expenses.

Gobi-backed Pakistani social e-commerce startup DealCart raises US$3M
The investors include Shorooq Partners, Sturgeon Capital, 500 Global, and Evolution VC; DealCart will use the capital to expand its reach and provide affordable essential goods to Pakistan’s low- and middle-income consumers.

Mylo, BCRemit, PAMMÉ win ARISE Plus accelerator programme in Philippines
ARISE Plus Ye! Boost Accelerator is a 14-week programme providing internationalisation support to youth-led startups; It’s funded by the European Union and led by the International Trade Centre in partnership with the DTI-CIG and QBO Innovation.

Otoklix to provide aftersales support to VinFast customers in Indonesia
VinFast, which entered Indonesia earlier this year, plans to invest US$1.2B to build a local assembly plant with a capacity of 60K cars per year; Otoklix supports independent workshops servicing gas-powered vehicles.

Taiwan’s WhatsApp conversational sales platform Cooby closes US$1.75M round
The investors are Shilling VC, Surge, and Pear VC; Cooby enables teams to communicate at scale through an organised WhatsApp inbox and claims to have served over 600 customers.

SAFVR bags funding from Antler to create safer work environment using AI, VR
It offers mobile gamified training and advanced VR hazard simulations to engage employees and boost safety protocol retention; It offers immersive training modules to enhance knowledge retention and practical skills.

FEATURES

OpenAI breach is a reminder that AI companies are treasure troves for hackers
No security breach should really be treated as trivial, and eavesdropping on internal OpenAI development talk certainly has its value; But it’s far from a hacker getting access to internal systems, models in progress, secret roadmaps, and so on.

FROM THE CONTRIBUTORS

M&A in Asia: A strategic roadmap for venture builders
This insider’s guide aims to provide a comprehensive overview of how to identify promising M&A spots in Asia, leveraging both strategic insights and practical tips to navigate this complex landscape.

A head start in business: How Westbourne’s Future Leaders Lab empowers students
Westbourne’s Singapore-based Future Leaders Lab fast-tracks high-achieving students into STEM business leadership via an MBA-style programme.

FROM THE ARCHIVES

Web3: idealistic vision or inevitable future? Insights from expert Chris Sirise
Saison Capital’s Chris Sirise shares insights on Web3’s potential impact in SEA, real-life applications, and the challenges it faces.

No achievement is too small, no individual is too junior to be highlighted: Zelia Leong of PraisePal
If you have financial responsibilities, it’s best to assess the company upfront and ensure your role will be essential in their upcoming business plans, says the PraisePal Co-Founder.

‘It will take another 5-10 years to rebuild the Myanmarese startup ecosystem’
Myanmar-based startups and founders have migrated to countries, such as Thailand either to relocate their businesses or join the corporate life.

The mastermind behind the Gojek app is out to help others succeed
Former Go-Jek VP of Product Alamanda Shantika opens up about her new projects, leadership style, and a certain street kid named Rio.

Mastering the art of fundraising: Winning strategies to engage investors
The VC financing landscape is constantly evolving so new businesses must know how to successfully approach investors while fundraising.

Ilham Habibie on what it takes to bring the Indonesian startup ecosystem to the next level
According to Ilham Habibie, the country has the fundamentals to become a strong startup ecosystem. But there is a need for more collaboration.

Industry veteran Marc Mercuri on how blockchain revolutionises gaming for players, creators
However, Mercuri does not see blockchain gaming as a replacement or competitor to the existing AAA titles.

Gen Z says no to climbing corporate ladders: What does it mean for SG’s startup ecosystem?
Recent turbulence has Gen Z searching for more meaning and purpose to the work they do, and a path of true authorship, not only ownership.

Indonesia’s startup ecosystem today is no longer recognisable –and that is a great thing
There seems to be an acknowledgement of the important role that the local startup ecosystem can play in building the economy.

Finding the right co-founder involves having tough conversations–and a great sense of humour
While there is always an option to go solo, there are also many good reasons to for you to have a co-founder.

Edutech in SEA is still “far behind compared to North America” – but there is some hope
In this interview, D2L Regional Director Asia Nick Hutton explains the challenges faced in edutech adoption in the Southeast Asian region.

‘Collaboration is essential in promoting responsible consumption’
According to Stephanie Dickson, founder of Green Is The New Black, responsible consumption encompasses key factors that prioritise the well-being of people and the planet.

Autistic founders, advocates share their vision of a more inclusive workplace
With its openness to innovation and unconventional company culture, the startup ecosystem can be a welcoming place for autistic professionals.

The art of letting go and how it makes you an even better entrepreneur
As an entrepreneur, are we agile enough to let go of our “grit” and change direction when the twists and turns call for it?

Why finding your co-founder is a lot like meeting your soulmate
What I learned about finding co-founders from my experiences at MaGIC, Entrepreneur First, and Singapore-Deep Tech Alliance.

Shedding light on Singapore’s software development landscape: How collaboration drives innovation
Another detail that the report revealed is the programming language dominates Singapore’s software development community.

Angel investor Mike Flache shares his tips to begin investing in startups
Mike Flache considers himself as an investor in people, instead of tech. This is how he approaches angel investing.

Unlikely mentors: What kids can teach you about entrepreneurship
I distilled some key habits and characteristics that business owners can develop to thrive in a chaotic and competitive business world.

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