SMEs are a major driver of economic development in Southeast Asia, accounting for 97% of all enterprises, employing 69% of the total workforce, and contributing 41% of the GDP. Despite their significant impact, 51% of SMEs in the region, totaling 36 million businesses, are underserved by financial institutions, leading to a US$320 billion gap in funding.
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Empowering innovation: The role of government in scaling ASEAN’s GenAI ecosystem
The rapid evolution of Generative AI (GenAI) technologies in ASEAN presents a transformative opportunity, with governments recognizing its potential for economic growth and competitiveness. Government-led initiatives focus on financial and regulatory support, education and workforce development, and infrastructure development to foster a thriving GenAI ecosystem. Challenges include regulatory discrepancies and ethical concerns, highlighting the need for harmonized regulations and a unified digital market to scale GenAI in the region. Full Article
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