Note: The article was written by Penghui Li and translated by Zinan Zhang.
Get ready for the annual insights from TechNode Content Team! The year 2023 can be considered a groundbreaking year in the technology field. As wrapping up this year, we gathered different insights from our content team. We’ll present nine Q&As, with timely updates every Wednesday and Friday in the following weeks!
Today, our Q&A comes from Penghui Li, reporter at TechNode. Penghui is a tech reporter who focuses on the Southeast Asian VC Ecosystem and Companies Going Overseas.
1. Which company has impressed you the most in 2023?
Whether from the perspective of a netizen or a content creator, the generative AI craze sparked by ChatGPT over the whole year has frequently appeared in my daily life. I have gradually accepted and actively started using such tools to enhance my work efficiency. I look forward to more surprises from this type of technology.
2. Which company has surprised you the most in 2023?
It’s amazing that VinFast, a Vietnamese electric vehicle company, actually delivered its first EV in 2023. This company was founded in 2017, and the company announced its transition from fuel vehicles to electric vehicle manufacturing in 2021. In the second half of 2022, I always saw related news about the delivery of its first car on Christmas Day that year but it was still delayed.
Before this, I have always had doubts about VinFast. Although I have seen too much news about car manufacturing, it is difficult for me to believe whether this young car company can produce cars as its pricing is benchmarked against Tesla, and its primary target market is also North America. In addition, the industry has always referred to it as the “Vietnamese Tesla.” The combination of these accolades and repeated delays makes it hard for people not to feel that it is a script. However, VinFast has indeed been produced.
3. Which industry professional/entrepreneur/startup founder has left the most profound impression on you in 2023?
Sam Altman. Before the recent conflicts within ChatGPT and OpenAI this year, as I have a slight interest in tokusatsu, “Ultraman” would more specifically refer to Tsuburaya’s Ultraman series in my memories (Altman and Ultraman have a similar translation in China) However, after the ChatGPT and OpenAI controversies, the various Chinese translations of Altman’s name. I hope that he can have a consistent Chinese translation of his name.
4. What is the most memorable overseas event for you in 2023?
The upheaval in TikTok’s Indonesian e-commerce business. What stands out to me is that, on the one hand, as a company, TikTok’s impact extends far beyond our conventional understanding of a business. On the other hand, looking at it from the perspective of a company going global, there have been significant changes compared to simply introducing products and services to overseas markets in the past.
However, in my opinion, when a startup gradually continues to mature and becomes a presence that industry insiders pay attention to and even influence the development of the industry, the things it undertakes will gradually surpass everyone’s imagination. At this point, interpreting these things purely from the perspective of right or wrong, or good or bad, becomes quite complex. From the standpoint of a content creator, this can make me feel an intangible pressure.
5. If you were to recommend one significant industry trend for everyone to follow, what would it be?
Cross-border Payment Linkage among Southeast Asian countries and between Southeast Asia and other regions. More specifically, this movement is made up of a series of specific events over 23 years, particularly cross-border payments and cross-border transfers.
Before the pandemic, there were large groups of tourists and travelers traveling between Southeast Asian countries every year. And as the effects of the pandemic have gradually passed, these movements have begun to return. The ease of payment will further promote the transactional activities in these cross-border behaviors. Almost every Southeast Asian country will have its QR code payment platform. If one account/one phone can be used in all countries, I believe more people will also start this kind of transaction behavior.
From my perspective, I would recommend that we focus on the impact of this process of increasing integration. When we mention Southeast Asia, it’s not hard to realize that the region is made up of many countries with different development paths and processes. With 70% of Southeast Asia being underserved by bankers,
6. What industry buzzword have you encountered the most in 2023?
Funding Winter. Intuitively, our readers might notice that the funding reports I’ve written in 2023 have been significantly decreasing compared to the previous two years.
7. Which phrase or sentence best summarizes your perspective on the field you’ve been following in 2023?
“Back to the reasonable range” for the tech VC in Southeast Asia.
I’ve heard this from Southeast Asia-focused investors over the past year. The Southeast Asian VC community was experiencing a boom in 2021 and the first half of 2022. In comparison, Southeast Asia is currently undergoing a “financing winter.” Despite being an “underrated region”, their performance in the past few years does not seem to be a sustainable condition in the long term. On the journey of Southeast Asia’s “digital decade”, it has only completed one-third of the road.
8. What product/company/technology/industry are you most looking forward to next year?
Electric Vehicle/EV industry (both two and four-wheeled). On the one hand, it comes from Southeast Asia’s ambition to become a regional hub for EVs. On the other hand, the Southeast Asia area is also hosting a boom in EVs going overseas in China.
9. Do you believe AI has the potential to threaten humanity?
Yes. My understanding of the threat is to have a harmful effect. AI may currently refer specifically to AIGC, and the main reason that makes me feel threatened is the increasing presence of AI voices including harassing phone calls and video content AI reading voice. AI content, such as the articles that are becoming more commonly produced by AI, usually seems to be well-written but is actually uninformed or even wrong in its opinions. There are quite a few people who use AI assistants to discuss issues with me.
I’m not saying that AI answers are wrong, but in terms of accuracy, AI-generated content can easily be misleading.
I also realize that AI is essentially a tool, and the value it can add depends on the perspective of the people who use it. What I’m worried about has existed before AIGC was created, though they’re likely to become more numerous and difficult to discern in the future.
Anyway, before more specific regulations and policies are finalized, this buzzword will bring more room for imagination and development value to the world, and at the same time, it will also produce negative impacts that cannot be ignored. As for the concern of AI occupying human jobs, I don’t think that’s what I can explore alone, and at least not in the short term for my job, it doesn’t have that possibility.
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