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Tech News

15-09-2017
Innovation and Technology Venture Fund

The Government has launched the Innovation and Technology Venture Fund on 15-09-2017. It is now open for application by venture capital funds to become co-investment partners (Deadline: 15-01-2018). A briefing session will be held on 03-10-2017 at the Hong Kong Science Park. Interested venture capital funds are welcome to attend.

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News feed provided by SMBWorld.

 

25-04-2019
Lazada works with L’oreal for next-day delivery in top metro cities

Lazada has partnered L’Oreal in a deal that will see Lazada’s warehouses and logistics network to fulfil next-day delivery in top metro cities by June 2019.Both companies will also pilot consumer engagement tools such as in-app livestreaming, and jointly launch exclusive products made available to Lazada customers.Other technological advancements such as new search features will ensure L’Oreal products are easily searchable within app to bring the most personalised products to its fans.According to L’Oreal’s 2018 full year annual financial report released in February 2019, eCommerce sales now account for 11 per cent of the group’s worldwide sale.“Our collaboration with L’Oreal started in 2014 and together, we have reached many milestones across the region. We are confident of creating the leading online beauty destination in Southeast Asia by combining Lazada’s extensive last mile logistics network to bring L’Oreal’s products faster into our customers’ hands. Our partnership today signals our commitment and joint ambition of dominating the Southeast Asian beauty and skincare eCommerce market share by providing the best customer experience. We are very excited for what is to come,” said Jing Yin, President of Lazada Group.“Lazada and L’Oreal will collaborate in many areas, from technology, sales and marketing to logistics. Lazada’s technology infrastructure, logistics network and brand engagement capabilities is the gold standard in the industry. Our joint efforts will take us one step closer to creating a true beauty shopping destination on Lazada. We are excited and confident to be part of this journey,” said Pierre-Yves, Managing Director, Southeast Asia, L’Oreal.

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25-04-2019
Mobile web sales during Ramadan retail period grew faster than desktop in Msia and Indonesia

Data from Criteo, an advertising platform, has revealed that mobile web sales during the Ramadan retail period saw a bigger increase of up to 69 percent in Malaysia and Indonesia, compared to desktop sales at 53 percent. App sales increased by up to 41 percent.Criteo identified these trends through the analysis of over 111 million retail shopping transactions, and over 40 million travel sales bookings across desktop, smartphones, and tablets from 107 major advertisers in Malaysia and Indonesia. Mobile sales include sales via mobile websites and apps, both on smartphones and tablets.The analysis revealed strong online sales in Malaysia and Indonesia in the lead up to and during Ramadan, which took place from 15 May to 14 June in 2018. Consumer activity typically slowed at the start and end of the period, which could be a result of consumers focusing more on the actual festivities during those times. Online retail sales surged 10 days into Ramadan and lasted through the two weeks before Eid al-Fitr on 15 June. A  57 percent uplift in online retail sales was observed on 4 June.In the Middle East and Turkey, weekly mobile share in sales surged up to 17 percent and 29 percent respectively during Eid al-Fitr. On the other hand, shoppers in the Middle East typically shop early into the season and slow down closer to Eid al-Fitr to focus on celebrations. Online retail sales surged early, reaching a 106 percent uplift in online retail sales on 26 May. The shopping behaviour during Ramadan in Turkey mirrored that in Malaysia and Indonesia, with online retail sales reaching a peak at 50 percent uplift a week before Eid al-Fitr.Online traffic for travel sites in Malaysia and Indonesia also saw a continuous increase during Ramadan, with the biggest rise at a 50 percent uplift a week afterEid al-Fitr. Online travel sales only started surging one week after Eid al-Fitr and lasted for two weeks, rising by up to 13 percent uplift. In the Middle East and Turkey, the same uplift trajectory was seen. Online traffic for travel sites saw a maximum uplift of 105 percent and 69 percent in the Middle East and Turkey respectively around two weeks after Eid al-Fitr. Travel players should maintain strong advertising strategies throughout Ramadan, so they can capture higher traveller interest and bookings after Eid al-Fitr. 

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25-04-2019
Mobile web sales during Ramadan retail period grew faster than desktop in Msia and Indonesia

Data from Criteo, an advertising platform, has revealed that mobile web sales during the Ramadan retail period saw a bigger increase of up to 69 percent in Malaysia and Indonesia, compared to desktop sales at 53 percent. App sales increased by up to 41 percent.Criteo identified these trends through the analysis of over 111 million retail shopping transactions, and over 40 million travel sales bookings across desktop, smartphones, and tablets from 107 major advertisers in Malaysia and Indonesia. Mobile sales include sales via mobile websites and apps, both on smartphones and tablets.The analysis revealed strong online sales in Malaysia and Indonesia in the lead up to and during Ramadan, which took place from 15 May to 14 June in 2018. Consumer activity typically slowed at the start and end of the period, which could be a result of consumers focusing more on the actual festivities during those times. Online retail sales surged 10 days into Ramadan and lasted through the two weeks before Eid al-Fitr on 15 June. A  57 percent uplift in online retail sales was observed on 4 June.In the Middle East and Turkey, weekly mobile share in sales surged up to 17 percent and 29 percent respectively during Eid al-Fitr. On the other hand, shoppers in the Middle East typically shop early into the season and slow down closer to Eid al-Fitr to focus on celebrations. Online retail sales surged early, reaching a 106 percent uplift in online retail sales on 26 May. The shopping behaviour during Ramadan in Turkey mirrored that in Malaysia and Indonesia, with online retail sales reaching a peak at 50 percent uplift a week before Eid al-Fitr.Online traffic for travel sites in Malaysia and Indonesia also saw a continuous increase during Ramadan, with the biggest rise at a 50 percent uplift a week afterEid al-Fitr. Online travel sales only started surging one week after Eid al-Fitr and lasted for two weeks, rising by up to 13 percent uplift. In the Middle East and Turkey, the same uplift trajectory was seen. Online traffic for travel sites saw a maximum uplift of 105 percent and 69 percent in the Middle East and Turkey respectively around two weeks after Eid al-Fitr. Travel players should maintain strong advertising strategies throughout Ramadan, so they can capture higher traveller interest and bookings after Eid al-Fitr. 

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25-04-2019
Love, Bonito deploys EngageRocket to measure and enhance employee experience

Love, Bonito, a Singapore-based women’s fashion brand, has deployed an employee engagement software product from EngageRocket.With a current team of 150 employees and an online and retail presence across Singapore, Malaysia, Indonesia and Cambodia, Love, Bonito needed to make better people decisions based on real-time data.Through this deployment, Love, Bonito aims to align customer and employee experience using data.The solution aims to improve the HR department’s capabilities by measuring the pulse of the organization in real time. The data will be collected through automated engagement surveys, 360 reviews, and demographic analytics from on-boarding to separation. The platform will instantly analyze and translate feedback into actionable insights, empowering managers to take immediate action on engagement gaps that impact the workforce performance.  Through the collaboration with EngageRocket, Love, Bonito wants to provide an additional platform to enhance communication and encourage employees to share their feelings and opinions in a trusted and seamless manner. In parallel, HR and line managers will receive actionable recommendations to help their talents belong, grow and perform within the company."We strongly believe our employees' experience should reflect the one we are trying to provide to our customers. We are investing time, effort and money trying to understand our customers, measuring their satisfaction and personalizing their journey, it’s only right that we want the same for our People,” explained Brandon Lee, Head of People & Culture at Love, Bonito.

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24-04-2019
UOB adopts VMware Cloud on AWS, goes hybrid cloud route

United Overseas Bank Limited (UOB) has enhanced its portfolio of enterprise solutions with VMware Cloud on AWS.UOB will use VMware Cloud on AWS to support its digital innovation journey with the aim to speed up application development.Jointly engineered by VMware and AWS in compliance with UOB's strict security requirements, the platform enables applications deployed in this environment to benefit from robust disaster protection and optimized access to AWS' wide range of services. It also reduces the cost and effort associated with migrating applications to the cloud by delivering infrastructure and operations that are consistent with those deployed within customer data centers, and extending tools, processes, and practices proven to support the most demanding applications.Adhunik Chug, Head of Group Shared Infrastructure Services, Group Technology and Operations, UOB, said, "As we continue to develop and to implement services and solutions to enhance our customers' banking experiences, it is important that we have the capability to be agile without compromising on security. VMware Cloud on AWS enables us to build our innovation platform on the cloud while maintaining our robust security standards. We are pleased to be the first company in Southeast Asia to use this integrated solution to power our innovation drive."

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24-04-2019
Talktech: Science of disrupting the workplace

How are Hong Kong enterprises address these soaring employee demands? What are they doing to get both their management and employees onboard for their various digital initiatives?

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24-04-2019
Huawei to help deploy first 5G smart hotel in China

InterContinental Shenzhen, Shenzhen Telecom Engineering and Huawei have agreed to create the first 5G-powered smart hotel

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24-04-2019
Technology driving intelligent organization transformation

Joint research from KPMG China and AliResearch finds that technology will help companies transform into the intelligent organizations of the future

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24-04-2019
Intel launches 18 9th-gen desktop Core chips

The majority of Intel's ninth generation desktop Core chips will not be capable of hyperthreading

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24-04-2019
Microsoft boosts IoT offering with Express Logic acquisition

Microsoft will add Express Logic’s ThreadX RTOS to its growing IoT device technology portfolio

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24-04-2019
CredoLab extends smartphone-based credit scoring product to insurers

CredoLab, a developer of smartphone-based digital scorecards for banks and non-bank financial institutions, is expanding into insurance credit scoring by making  its smartphone credit scoring solution available to insurers and personal finance comparative websites worldwide.The newly launched CredoInsure is an extension of the company’s current smartphone behaviour-driven credit scoring solution for banks, consumer finance companies, digital lenders, auto lenders and retailers.CredoInsure aims to help insurers analyze the creditworthiness of a customer in less than 30 seconds through a set of solutions that come in the form of a standalone white label solution, an API or as an additional characteristic in the client’s existing pricing engine. CredoInsure is targeted at insurers facing increasing customer acquisition costs, low persistency, and high number of lapsed premiums.CredoInsure analyses over 500,000 features from a user’s smartphone, working in harmony with existing technology to connect the dots that traditional methods can’t. Via the use of artificial intelligence and proprietary algorithms, CredoLab turns mobile device metadata into highly predictive credit risk and anti-fraud scorecards. Users’ smartphone behaviour is tracked anonymously through their digital footprint.Peter Barcak, co-founder and CEO of CredoLab, said, “We see tremendous potential in using AI to help the insurance industry through smartphone behavioural data that can predict consumer repayment behaviour. Our technology helps insurers increase their product profitability in year one while also improving the number of paying customers over a longer period of time. We will also work with personal finance comparative websites that serve as platforms in pre-selecting and pre-qualifying leads for their insurance partners.”Currently operating across 15 markets worldwide, CredoLab aims to target the personal, life and travel insurance space in its existing Asian emerging markets of Vietnam, Indonesia, Philippines and India. Last year CredoLab partnered with Singapore-based personal finance comparison website GoBear to extend its reach to the underbanked market in Southeast Asia through its Easy Apply smartphone app; allowing banks, financial institutions and lenders to extend personal loans, credit cards and insurance products via non-traditional smartphone-based credit scoring. 

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24-04-2019
M-payments growing fastest in Vietnam

Vietnam has seen the highest growth in mobile payments in the past year, according to the Global Consumer Insights Survey 2019 conducted by PwC.The survey, which covered more than 21,000 respondents from 27 territories, showed that the percentage of consumers using these services in Vietnam increased to 61%, up from 37% in 2018. The 24 percentage point increase was also the largest in the six Southeast Asian countries that took part in the survey.In Singapore, mobile payments climbed 12 percentage points from 34% in 2018 to 46% in 2019. Since the government began encouraging digital payments in late 2017, the latest results indicate a payoff in the efforts by the government and other mobile payments players.The rest of Southeast Asia also saw increases in mobile payments with Thailand up 19 percentage points to 67%, Malaysia up 17 percentage points to 40%, and Philippines up 14 percentage points to 45%, respectively. Indonesia reflected the slowest increase in the usage of mobile payments at just 9 percentage points to 47%.In the Middle East, which was the second fastest growing in mobile payments adoption globally after Vietnam, the percentage increased by 20 percentage points to 45%. China remains unchanged at 86%. Across all territories, 34% of consumers paid for purchases using mobile payments, up from 24% a year earlier.Buying through social mediaAccording to the survey, consumers in Asia are more socially engaged online than those in Europe and the Americas. Respondents in Thailand, Indonesia and Vietnam led the pack globally in making purchases directly through social media posts on platforms like Instagram and Facebook, with 50%, 49% and 48% of survey respondents indicating they do so, respectively.Globally, only 21% of respondents made purchases directly through social media. Among product and service categories, the survey found that social media is most likely to affect purchasing decisions related to fashion.Charles Loh, Southeast Asia Consumer and Industrial Products Consulting Leader, PwC, said: “Social media platforms are already mature in Southeast Asia. The trend in online shopping, moving forward, is the consolidation of e-commerce players with fewer big players providing that gateway. There seems to be a consolidator present in every market.”Voice technologyIn the survey, 9% of global consumers said they use voice technology to shop online weekly or more frequently. As shopping by voice continues to catch on, companies should be thinking beyond mobile to consider how voice technology in homes, cars, and elsewhere will affect customer experience. The bar for brand leadership will continue to shift as organizations launch increasingly consumer-friendly technologies.Charles Loh, Southeast Asia Consumer and Industrial Products Consulting Leader, PwC, said:“Voice technology is widely used in instant messaging communication platforms. It's only a matter of time that we see adoption here in Southeast Asia”Shirish Jain, payments director, Strategy, said: “Asia remains the powerhouse in leading the customer shift to mobile payments with the report reflecting eight Asian nations in the top 10, and six are in Southeast Asia, as the results show. Vietnam, with its relatively low penetration in 2018, has registered the highest growth as mobile platforms demonstrate a significant increase in convenience over traditional means of commerce.“This contrasts with Singapore that also shows strong gains. However, the sophisticated and established traditional ecosystem, as well as abundant and potentially confusing number of choices in mobile payments can also slow down adoption.“This finding highlights a timely confluence of four principal factors: stages of economic growth cycles driving affluence and disposable income; the availability of platforms that address local demographic needs including support for cash-on-delivery; the lower cost for retailers and providers; and a marked increase in convenience.”

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23-04-2019
Total value of AR in education to hit US$5.3b by 2023

According to ABI Research, a market-foresight advisory, the total value of Augmented Reality (AR) in education will be approximately US$5.3 billion by 2023. At the same time, total revenues from Virtual Reality (VR) Head Mounted Displays (HMDs) used in education are expected to grow beyond US$640 million.AR and VR are powerful educational tools that can enhance the learning journey and outcome by providing interactive and engaging content, immersive storytelling experiences, flexibility and independence to students.“AR and VR educational applications shift the learning process from passive to active, allowing students to interact with content and practice their knowledge in real-time conditions,” said Eleftheria Kouri, Research Analyst at ABI Research. “Learning by experience leads to better understanding, enhances knowledge recall, and strengthens retention. Immersive and interactive experiences stimulate student’s motivation and increase their engagement level, which are fundamental factors for achieving learning goals.”Funding is one of the primary barriers for massive adoption of AR/VR solutions within educational systems, due to the high cost of headsets along with the limited financial resources in many schools. Mobile device-based solutions are a cost-efficient option due to the existing large install base, although fully immersive experiences aren’t possible. Head-mounted experiences provide the most immersive experience possible but also can be challenging when it comes to price and implementation.Average Selling Prices (ASPs) for AR glasses are expected to significantly decrease in the next few years, reaching US$733 for monocular and US$347 for binocular by 2023, which will help bring more AR to space. However, VR will reach lower device costs, with standalone headsets trending down toward US$200 ASP by 2023 and mobile-based VR housings for far less. Ease of setup and use with standalone devices make it a favorite for educational purposes.“AR and VR solutions can significantly enhance learning experiences for all age groups and assist educational efforts through greater student interest and interactivity, leading to objective improvements in learning efficacy,” continued Eric Abbruzzese, Principal Analyst at ABI Research. “In an ongoing quest to maintain student’s attention, new visualization and interaction tools are a natural fit. Greater visualization capabilities fit in upper learning and research efforts as well, so AR/VR can address the entire education ecosystem from Kindergarten through to post-graduate research. Add to this the flexibility of digital updateable and customizable content in a curriculum, and AR and VR are set up to play a catalytic role in education system going forward, provided the lowering prices and increasing content creation continue.”These findings are from ABI Research's Augmented and Virtual Reality in Education application analysis report. Caption: Image from iStockPhoto/gorodenkoff

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23-04-2019
InterContinental Shenzhen, Shenzhen Telecom and Huawei to create first 5G smart hotel

InterContinental Shenzhen, Shenzhen Telecom and Huawei have signed a strategic cooperation agreement to create the world's first 5G smart hotel.By introducing the hotel industry’s first end-to-end 5G network with integrated terminals and cloud applications, the project will enable InterContinental Shenzhen to provide guests with the ultimate innovative luxury experience and open the door for digital transformation of entire hotel industry through 5G technology.Shenzhen Telecom is deploying Huawei's 5G network equipment in the InterContinental Shenzhen to achieve continuous indoor and outdoor 5G coverage, which will serve as the platform for a new generation of hotel services.Guests will experience innovative 5G hotel applications through 5G smartphones and customer-premises equipment (CPE) terminals, including 5G welcome robots, 5G cloud computing terminals, 5G cloud games and 5G cloud virtual reality (VR) rowing machines, providing business travelers with a convenient and efficient working environment, and leisure travelers with a high-end, immersive entertainment experience.InterContinental Shenzhen is the first Spanish-inspired luxury business hotel in China. It is also a leading partner for major local and global events. Throughout the years, InterContinental Shenzhen has won numerous international and domestic hotel industry awards for its creativity, attentiveness and personalized service.For the project’s kick-off ceremony, Shenzhen Telecom and Huawei jointly deployed a 5G Digital Indoor System on the hotel’s first floor and in the presidential suites.In the hotel lobby, guests can access the 5G network through CPEs or their smartphones to experience high speed 5G downloads and uploads. Service efficiency is improved with 5G intelligent robots that provide services including guest information, destination guidance, and delivery.The presidential suites covered by the new network provide guests with 5G hotel services such as cloud VR rowing machines, cloud games and 4K movies.An experience zone that was built for today’s ceremony featured the world’s fastest mobile download rate and a uniquely versatile telecommunications and entertainment guest experience.Golden Sun, General Manager of Shenzhen OCT Hotel Development Co Ltd, said: “the hotel always puts the guest experience first. Since consumer spending is continuously increasing, consumers are craving higher quality and better consumer experiences.“Guests expect new things and new experiences. The joint venture with Shenzhen Telecom and Huawei has brought more possibilities to the hotel. Riding on the advanced technology, we can imagine our future and fly with it freely. We are excited to see the 5G experience zone in InterContinental Shenzhen as this is the first step for our three parties to build 5G hotels.“On the other hand, we also hope to realize the comprehensive transformation of smart hotels and digital hotels by introducing 5G technology. We are willing to further cooperating with Shenzhen Telecom and Huawei to explore more in-depth application of 5G in the hotel scene, we hope that our experience can help the digital construction of the hotel industry and tourism."“InterContinental Shenzhen is a reputable scenario for Shenzhen Telecom. The good number of VIP customers, high user experience standard, short delivery period and high construction environment requirements, all pose great challenges to network deployment and operation and maintenance.” Feng Wei, Deputy General Manager of China Telecom Shenzhen Branch, said.Dr. Peter Zhou, Chief Marketing Officer of Huawei Wireless Solution, said: "5G is here - from the 4K ultra high-definition live broadcast of CCTV’s Spring Festival Gala early this year to today’s 5G entertainment and business transformation of the InterContinental Shenzhen’s presidential suites, 5G technology has penetrated into different industries.” 

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23-04-2019
China Mobile HK moves 5G innovation center to Science Park

China Mobile Hong Kong will use its relocated Hong Kong Open Lab to stimulate the adoption of 5G and the development of 5G applications

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CyberLink Vol.127 April 2019

3,000 industry elites converged at IES 2019 to gain best insights of the digital future 

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CyberLink Vol.126 March 2019

Internet Economy Summit unfolds industry-critical topics of digital future 

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CyberLink Vol.125 February 2019

Be inspired by thriving entrepreneurs’ daring spirit at “We Dare to Venture” Season 2

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