??? Don't get left behind

?If you’re reading this and haven’t signed up yet, make sure you join 12,856 others by subscribing here.

Now let’s dive in.

The Background

• Being oblivious to the latest trends is no longer a luxury anyone can afford. New disruptive technologies are emerging every day, completely changing the way we live and work.
• Startups are pioneering innovative solutions in various sectors, such as healthcare monitoring tools, bio-based materials, and even power plants, bringing them to digital realities.

Today’s State of Affairs

• The acceleration of emerging technologies like machine learning, AI, and software 2.0 is one of the most significant trends shaping the entrepreneurial landscape.
• For instance, the use of AI in marketing is expected to grow, with businesses using AI-powered chatbots and virtual assistants to improve customer engagement and experience.
• CB Insights' latest report highlights 11 emerging tech trends to watch, from longevity to super apps, and provides an overview of which companies are leading the change.?

What Comes Next?

• The 11 emerging tech trends to watch in 2023 include immortality-as-a-service, super apps, fintech expansion into new spaces, robots as cleaning aids and empathetic companions, decentralized energy systems, ambient health monitoring, digitizing scent, menopause-focused startups, bio-based materials, India's startup ecosystem growth, and regenerative agriculture.
• To survive, fintech startups are diversifying services, reducing dependence on risky business lines, and becoming "super apps."?
• BNPL providers are now going after businesses, particularly in areas like supply chain and trade finance. Klarna , for example, is pushing into new product areas such as shoppable videos and a platform to connect creators and brands Starling Bank , one of the UK’s first challenger banks, launched a "bank in a box" technology that helps other financial services firms bring banking products to market.
• India's technology sector is experiencing an upsurge in investment, with the nation projected to become the world's third-largest economy by 2030. Sectors that are expected to boom include climate and clean energy, consumer fintech, and B2B enablement.?
• Smell technology is making significant progress, which could affect industries such as food, retail, healthcare, and more. AI tools are making it possible to measure, analyze, and predict odors. This could lead to better detectors for disease, explosives, or food ripeness, and companies could experiment with smell prediction to identify potential products that consumers would actually enjoy.?
• Startups like Breathomix and The eNose Company are digitizing smell, while Koniku is using living cells in its smell detectors for disease detection. Other companies are trying to reproduce smells for the metaverse, offering a new way for companies to brand themselves in the digital world.

Be sure to read the full report to get deeper insights into the 11 tech trends leading 2023.

Which of these do you think will affect your everyday life the most?

?? Fintech & Payments

? Korean messaging and internet giant Kakao's online payment service, Kakao Pay, has acquired a 19.9% stake in US brokerage firm Siebert Financial for $17 million.

? African mobile money platform Wave has launched in Gambia with the aim of expanding financial inclusion in the country, following successful operations in Senegal, Uganda, and C?te d'Ivoire.

?? The World of Web3

? Meta's Reality Labs unit reported a $3.99 billion operating loss in the first quarter of the year, with a total loss of $13.72 billion last year.

?? Crypto & Defi

? Coinbase has sued the U.S. Securities and Exchange Commission over a rulemaking petition it filed months ago.

? Bankrupt crypto lender Voyager Digital announced that Binance.US has terminated its $1 billion asset purchase deal and that it will return the value to customers through direct distribution.

? Islamic Coin, the world's first Sharia-compliant cryptocurrency, is set to launch in May 2023 and will be integrated with payment providers later in the year.

?? The Future is AI

? Google has unveiled Cloud Security AI Workbench, a new cybersecurity suite powered by a specialized “security” AI language model called Sec-PaLM at the RSA Conference 2023.

? OpenAI's CEO, Sam Altman, believes that the era of large AI models, such as ChatGPT, is over and that new AI research strategies will be necessary for future advancements.

? UAE Government launches 'Generative AI' guide to facilitate AI technology adoption among government entities.

? Chubb's CEO Evan Greenberg revealed that the insurance giant is set to roll out AI tools at scale for various purposes ranging from underwriting to customer service.

?? Report of the Week

Metaverse-as-a-Service by LAMINA1: LAMINA1's latest report explores their Metaverse-as-a-Service concept, offering turnkey services to build virtual worlds at scale for builders, creators, and end-users. The report emphasizes an open metaverse, free from the limitations of proprietary tech and business models, where creators have the freedom of choice in tools used to build and content can be shared across multiple platforms. The report also discusses the need for the integration of blockchain technology with 3D systems to ensure maximum interoperability and fair compensation for creators. LAMINA1 showcases their vision for an open metaverse built on standards, accessible to all, and enabling a level playing field for everyone in the ecosystem. Read the full report here.

What do you think about the future of the open metaverse? ??

?? Books I Recommend

Impromptu: Amplifying Our Humanity Through AI by Reid Hoffman with GPT-4

Check out more of my favorite reads here.

?? In Other News…

? App Store Policies: Apple has won an antitrust court battle with Epic Games over its App Store policies, which restrict app distribution to the App Store and require payments to go through its own processor.

? Amazon Layoffs: Amazon is laying off HR and cloud computing workers in a new round of job cuts expected to impact 27,000 roles globally.

? Lyft Layoffs: Rideshare company Lyft is laying off 1,072 employees (26% of its staff) and scaling back hiring plans to cut costs amidst challenging economic conditions.

? Payments: US appeals court upholds ruling allowing developers to offer links outside of Apple's App Store, which will allow developers to avoid paying sales commissions to Apple.

? Employment: World Economic Forum's new report predicts that 83 million jobs will disappear while 69 million new jobs will be created by 2027, resulting in a net loss of 14 million jobs or 2% of current employment.

?? The Podcast for Fintech Enthusiasts

In this week's episode, I talk to Madiha Sattar , VP of Careem Pay, to talk about Careem Pay's mission to become the leading digital financial services provider in the Middle East. Careem Pay offers a comprehensive suite of fintech products, including a peer-to-peer money transfer service and international remittance. We explore building a fintech ecosystem in the Middle East, geographic expansion plans for Careem, and the problem of diversity in fintech. Tune in to learn how Careem Pay is shaping the fintech landscape and driving innovation in the Middle East.

?? This Week on Payments

??? And that brings us to the end of today’s Crunch

If you enjoyed today's edition of the Couchonomics Crunch, be sure to share it with all the other fintech enthusiasts you know.?

If you want to stay up-to-date on all things fintech, subscribe here.

And thank you to our sponsors Adyen , ToYou | ???? , Visa , geidea , and M2P Fintech for making today's edition possible.

?? Policymakers, founders, financial services executives and investors! Join me in the Inclusive Fintech Forum happening this summer.

Get a 20% discount to join using this code: IFF20.

Register now by clicking here. Hope to see you in Kigali, Rwanda.