Latest news with #Stripe
Business Recorder
16 hours ago
- Business
- Business Recorder
Pakistan's path to a $1 trillion economy: embracing AI for growth
Pakistan stands at a crucial crossroads in its economic journey. With a GDP of $337.9 billion in 2023, the country has immense untapped potential. While the IT sector contributes only 1% ($3.5 billion) of GDP, this number could surge exponentially if Pakistan embraces an AI-driven economic transformation. By adopting AI-friendly policies, reducing import duties on essential technology, and formulating special electricity tariffs for AI industries, Pakistan could unlock $1 trillion in economic growth over the next decade. Artificial intelligence is no longer just a futuristic concept—it is the backbone of modern economies. Countries like China, the United States, and India have leveraged AI to drive innovation, enhance industrial productivity, and boost exports. Pakistan must follow suit or risk being left behind. Pakistan's current regulatory framework makes it difficult for AI companies to thrive. Import duties on GPUs, AI chips, and high-performance computing equipment remain prohibitively high, deterring investment. A duty-free AI import policy would lower costs for startups and research institutions, enabling them to compete globally. Additionally, electricity remains a major hurdle for AI development. High energy costs and power shortages discourage data centers and AI-driven companies from operating efficiently. A dedicated electricity policy—offering subsidized energy rates for AI industries—would attract global investors and promote local AI-driven research and development (R&D). Despite having a robust tech talent pool, Pakistan's IT exports stand at a mere $3.5 billion. In contrast, neighboring India is set to cross $200 billion in IT exports by 2025. The gap is not due to a lack of talent but rather an absence of structured policies to support AI and IT growth. If Pakistan removes tax barriers for freelancers, eases payment solutions like PayPal and Stripe, and introduces AI-friendly regulatory policies, IT exports could grow to $50-$100 billion by 2035. Tech Special Economic Zones (SEZs) with zero tax on AI startups would further incentivize investment in Pakistan's digital economy. A thriving AI ecosystem requires state-of-the-art digital infrastructure. Countries leading in AI investment—like the UAE, China, and the US—have built AI-powered smart cities, high-speed internet networks, and AI-driven public services. Pakistan must follow a comprehensive model to achieve its target. It should expand 5G and fiber optic networks to enable high-speed AI applications and build AI-powered smart cities with automated public transport, smart grids, and digital governance, and launching government-backed AI innovation labs to foster breakthroughs in healthcare, fintech, agriculture, and security. Pakistan's industrial sector contributes over $75 billion to the GDP, but it lags in automation and AI adoption. To compete with global manufacturing powerhouses like China, Vietnam, and India, Pakistan must integrate AI, robotics, and IoT (Internet of Things) into its textile, auto, and agriculture sectors. AI-driven manufacturing hubs can increase efficiency and output. Drone-based precision farming can optimize water usage and crop yields. Robotics in textile production can reduce costs and improve quality. To scale AI adoption, Pakistan needs investment-friendly policies. Countries like Saudi Arabia and the UAE are pumping billions into AI and data-driven industries. Pakistan must position itself as an AI-friendly investment hub by offering a 5-10 year tax exemptions for AI-driven startups and tech investors and creating a $1 billion AI investment fund to support startups, fintech, and deep tech companies. Streamlining business registration and reducing bureaucratic hurdles for foreign AI investors. Financial technology (fintech) is reshaping global economies. Pakistan's digital payment ecosystem, while growing, still faces roadblocks due to outdated regulations. A regulated cryptocurrency framework and a central bank digital currency (CBDC) could unlock billions in economic value. The government should legalize cryptocurrency trading with proper regulatory oversight, expanding AI-driven fintech solutions for microfinance and digital lending, and integrating AI into banking for automated fraud detection and risk management. AI can revolutionize Pakistan's governance by improving efficiency, reducing corruption, and increasing transparency. The Federal Board of Revenue (FBR) could leverage AI-powered tax collection systems to prevent tax evasion, potentially increasing tax revenues by 2-3% of GDP. Automated tax assessment to eliminate loopholes. AI-driven governance for faster decision-making in public projects. Smart public services reducing bureaucracy through AI chatbots and automation. With AI, digital transformation, and strategic policy shifts, Pakistan's GDP could surpass $1 trillion by 2035 and reach $2 trillion within two decades. The table below highlights potential GDP contributions from AI-driven sectors: Sector Current GDP Contribution (2023) Potential Contribution (2035) IT & AI $3.5B (1%) $100B (8-10%) Manufacturing (AI-driven) $75B $250B Agriculture (AI Precision) $65B $150B Fintech & Digital Economy $20B $150B Smart Infrastructure & IoT $10B $100B Total $337.9B $1 Trillion Pakistan cannot afford to delay AI adoption. The world is moving toward AI-driven economies, and Pakistan must position itself as a global AI hub. With the right policies, strategic investments, and government-private sector collaboration, the country has the potential to catapult itself into the trillion-dollar economy club. The roadmap is clear: remove regulatory barriers, invest in AI infrastructure, attract foreign investment, and integrate AI into governance, industry, and finance. If executed correctly, Pakistan can compete on the global stage and become a leader in AI-driven economic growth. The future is AI. The question is: will Pakistan seize the opportunity or be left behind?
RTÉ News
a day ago
- Business
- RTÉ News
Irish 17-year-old's startup raises €1.2m
An AI startup co-founded by Irish 17-year-old Liam Fuller has secured €1.2 million ($1.4m) in pre-seed funding. Mr Fuller's company, Source, is a platform that automates stock purchasing for retailers using agentic AI. The funding round was led by Australian VC Square Peg, alongside former Stripe CTO David Singleton and the Xtripe angel syndicate. Mr Fuller is the CEO and co-founder of Source and is Square Peg's youngest portfolio founder to date. He has now left school to build Source full-time. "I was shocked to find that most businesses, especially retailers, still rely on email and Excel to buy hundreds of thousands of dollars' worth of stock every week," Mr Fuller said. "Source provides a simple interface allowing retail buyers to understand what they should buy and when by integrating into Excel, email and ERPs (Enterprise Resource Planning)." "Source scans inventory and past sales data to generate forecasts and suggest purchase orders with AI that humans can edit and approve with a single click," he added. While visiting family in Australia last April, Mr Fuller secured a meeting with Square Peg co-founder Paul Bassat, and closed the funding round within weeks. "I've been impressed by many young entrepreneurs, but Liam combines technical sophistication with commercial instincts that are rare at any age," Mr Bassat said. "When someone demonstrates this level of execution and strategic thinking at seventeen, the growth trajectory becomes incredibly compelling," he added. The capital will be used to double engineering headcount, launch US pilot programmes this autumn and finance a Silicon Valley relocation later this year.
Forbes
2 days ago
- Business
- Forbes
The UK Just Created A Regulated Market For Carbon Removals
Big Ben with bridge over Thames and flag of England against blue sky in London, England, UK We're used to thinking of carbon markets as a punishment mechanism—a tax in disguise for those who pollute. But what happens when the same system starts to reward the people actively cleaning up the atmosphere? After months of consultation, the UK government has laid out a clear path: greenhouse gas removals—including engineered solutions like direct air capture (DAC) and enhanced weathering—will become part of the country's carbon market by the end of this decade. If you're in the weeds of carbon policy, this is a watershed moment. If you're not, here's why it matters: it means corporations will soon be able to buy carbon removal credits in a regulated market—and carbon removal companies will, for the first time, have a predictable, price-driven demand signal for cleaning up the atmosphere. Until now, carbon removals—like DAC, biochar, or enhanced weathering—have mostly lived in the voluntary market, propped up by early-adopter buyers like Microsoft, Stripe, and Shopify through initiatives like Frontier. But voluntary demand is tiny. Currently the global voluntary carbon market is worth just $2 billion. By contrast, the global compliance carbon market—driven by schemes like the European Union's Emissions Trading System, California's Cap-and-Trade, and now the UK Emissions Trading system (ETS)—was valued at over $800 billion. Right now, the UK ETS covers around 111 million tonnes of carbon emissions annually across the power, industrial, and aviation sectors. The average price of a UK allowance in July 2025 is around $48 per tonne. Even if just 1% of UK ETS obligations are fulfilled through removals, that's a potential $43 million market annually for removals. And here's the key: this isn't a hypothetical. The UK has committed to legislating integration by 2028, with removals entering the market by the end of 2029. That timeline is long enough to allow for standard setting and infrastructure development, but near enough to start attracting real investment now. For a sector that's often lived off philanthropic capital and early adopter corporate buyers, this is oxygen. What does this mean in practice? A few things. First, only removals that take place on UK soil will be eligible—this ensures that the benefits of investment (jobs, infrastructure, MRV capabilities) stay local. Second, removal credits will be awarded after the carbon has been verified to be sequestered, not in advance. That's important. It signals a clear move away from the 'pay-now-promise-later' dynamic that has plagued lower-integrity offset markets. Perhaps most importantly, only removals that can demonstrate carbon will be stored for at least 200 years will qualify. That threshold effectively draws a line in the sand: no reforestation credits that could reverse in a few decades. The UK is saying, if you want an allowance, your removal better last two centuries. That's a powerful signal to companies focused on permanence—those relying on mineralization, geologic storage, or stable biochar. The government has also indicated it is 'minded to differentiate' between these new removal credits and existing allowances—potentially creating a dual-credit system. In other words, a tonne of avoided emissions and a tonne of removed carbon might be priced and treated differently. That opens up the potential for two carbon markets to exist side-by-side: one punishing emitters, the other incentivizing removers. It's a nuanced idea, but if done well, it could provide flexibility while preserving environmental integrity. There will be auctions to facilitate a route to market—helping removal operators sell their credits into a structured and transparent system, rather than relying solely on opaque bilateral deals. The government will also maintain the existing 'gross cap'—that is, the total amount of allowances won't increase to accommodate removals. This ensures that carbon removals don't create space for additional emissions. It's not a license to pollute—it's a tool to neutralize emissions that can't be cut. Some of this might sound arcane, but it reflects a growing maturity in how we think about removals. Climate science is clear: reaching net zero means both cutting emissions and removing what we can't avoid. The UK is the first country to bake that second half of the equation into its compliance market architecture. This decision is also a direct boost to the UK's emerging carbon removal ecosystem. Take UNDO, a recent XPRIZE winner, which spreads finely crushed basalt on farmlands to accelerate natural weathering processes—permanently storing carbon in soils. Or Mission Zero Technologies, a direct air capture startup developing modular electrochemical systems that capture CO₂ from ambient air and store it underground. Both are UK-based, and both could now see a real, regulated path to monetizing their impact—not through donations or hype cycles, but through policy-anchored carbon demand. And this matters beyond the UK. Globally, the carbon removal sector must grow from removing tens of thousands of tonnes of CO₂ per year to billions by 2050. That means turning niche science projects into bankable infrastructure. It means shifting from tech demonstrations to projects that institutional investors, insurers, and utilities can underwrite. None of that happens without real markets—and until now, those have been missing. The UK's move is not perfect, and it won't be fast. But it's a milestone: the first major economy to say, explicitly, that carbon removal belongs in the same market as pollution—and that removing carbon deserves the same financial seriousness as cutting it.
The Star
2 days ago
- Entertainment
- The Star
Animal lover finds new best friend at MBJB event
Paws in need: Haffiz (fifth from left) looking at dogs for adoption during the event in Plentong, Johor Baru; where Chua adopted a new dog. JOHOR BARU: Three years after losing his two beloved dogs Stripe and Lucky, Chua Kah Lun has opened his heart to a new pet. The 36-year-old said the two canines had been with him for over a decade and passed away just months apart, at the age of 13 and 14 respectively. 'Their absence left a void in our lives. Stripe and Lucky were not just my companions, they were a part of my parents' lives too. 'Our house felt unbearably quiet after they passed away. Taking in a new dog would ease our longing,' he said when met at a stray dog adoption programme organised by the Johor Baru City Council (MBJB) in Plentong on Sunday. 'Strays deserve to be loved too. They need a family to care for them and provide them a safe place to live,' said Chua, who also has two cats and is fostering three others at a rescue shelter. At the event, he met the 20 dogs up for adoption, carefully interacting with each of them. His eyes fell on a calm-looking black dog. 'This cute little fellow will be my new friend. It reminds me of Lucky and Stripe, who were also gentle and affectionate,' he said. Chua Kah Lun Chua said the adoption, which includes vaccination and neutering, is free. The event also featured a Most Beautiful Dog contest, where six canines competed for the title. Housewife Sylvia Kusuma beamed with pride when her eight-year-old English bulldog, named Chocolate, won third place in the contest. Despite its stocky build and serious expression, Chocolate charmed the judges with its laid-back and comical personality. 'I have had Chocolate since he was a puppy. We have been together for eight years. 'He is very lazy and sleeps most of the time. The time he becomes active is during meals,' said the 35-year-old. MBJB mayor Datuk Mohd Haffiz Ahmad said stray dog issues remain a major concern among city dwellers. He said as of June, the council had captured 2,034 stray dogs. He revealed that the Housing and Local Government Ministry had allocated RM10,000 for the Stray Animal Management Campaign 2025, which includes public awareness programmes, licensing advocacy and adoption opportunities. Mohd Haffiz said capturing stray dogs and putting them up for adoption could help prevent diseases like rabies, leptospirosis and salmonella from spreading. He said the council had neutered 850 strays in four phases since last year.
Geeky Gadgets
3 days ago
- Business
- Geeky Gadgets
How to Add Smart AI Agents to Your Websites in 2025
Imagine this: a potential customer visits your website late at night with a pressing question. There's no one available to assist, and they leave, frustrated, never to return. Now, picture the same scenario, but this time, a smart AI agent instantly answers their query, schedules a follow-up, or even processes their purchase—all within seconds. In 2025, this isn't just a futuristic dream; it's the new standard for businesses that want to stay competitive. With AI agents becoming more intuitive and accessible than ever, integrating one into your website is no longer a luxury—it's a necessity. But how do you ensure your AI agent doesn't just exist but truly improves your customer experience? In this step-by-step guide by Skill Leap AI, you'll uncover how to seamlessly add a smart AI agent to your website, from building a robust knowledge base to embedding it with user-friendly tools. Along the way, you'll learn how to select the right AI model, refine its capabilities, and integrate it with platforms like Slack or Stripe for enhanced functionality. Whether you're looking to streamline operations or create a more engaging digital presence, this guide will equip you with actionable insights to make it happen. By the end, you'll not only understand the technical process but also the strategic value of deploying an AI agent that truly works for your business and your users. After all, the future of online interaction is here—are you ready to embrace it? Integrating AI Agents into Websites What is an AI Agent? An AI agent is a virtual assistant powered by artificial intelligence, designed to perform specific tasks and interact with users in a conversational manner. It uses a knowledge base, executes predefined actions, and integrates with external tools like calendars, payment systems, or customer relationship management (CRM) platforms. By automating repetitive tasks, an AI agent can significantly enhance efficiency and customer satisfaction. For example, an AI agent can: Answer frequently asked questions: Provide instant responses to common queries, reducing the workload on human support teams. Provide instant responses to common queries, reducing the workload on human support teams. Schedule meetings: Use tools like Calendly to simplify appointment booking. Use tools like Calendly to simplify appointment booking. Process payments: Integrate with platforms such as Stripe to handle secure transactions. The adaptability and functionality of AI agents make them a valuable addition to any website, helping businesses save time and improve user experiences. 1: Build a Comprehensive Knowledge Base The knowledge base serves as the foundation of your AI agent, containing the information it uses to answer questions and perform tasks. A well-organized and detailed knowledge base ensures your AI agent delivers accurate and helpful responses. To create a robust knowledge base, you can: Upload documents: Include PDFs, Word files, or spreadsheets containing relevant information. Include PDFs, Word files, or spreadsheets containing relevant information. Copy and paste text: Directly input essential content into the platform for quick access. Directly input essential content into the platform for quick access. Link to external resources: Connect to website pages, Notion databases, or FAQ sections for additional context. For instance, a technical support business might upload product manuals, troubleshooting guides, and instructional videos. Organizing this data effectively ensures the AI agent can provide precise and timely assistance to users. Using AI Agents for Improved Customer Website Experiences Watch this video on YouTube. Enhance your knowledge on AI Agents by exploring a selection of articles and guides on the subject. 2: Select the Right AI Model Choosing the appropriate AI model is critical to the success of your AI agent. Different models, such as large language models (LLMs) like GPT40 Mini or advanced reasoning models, offer varying levels of complexity, cost, and functionality. When selecting a model, consider the following factors: Budget: Evaluate the cost of the model and ensure it aligns with your financial resources. Evaluate the cost of the model and ensure it aligns with your financial resources. Functionality: Determine whether the model can handle the specific tasks your business requires. Determine whether the model can handle the specific tasks your business requires. Customization: Use system prompts to define the agent's tone, role, and limitations, making sure it aligns with your brand identity. For example, if your AI agent needs to handle complex customer queries, a reasoning model may be more suitable. Customizing prompts allows you to fine-tune the agent's behavior, making sure it communicates effectively and maintains a professional tone. 3: Test and Refine Your AI Agent Thorough testing is essential before deploying your AI agent. This step ensures the agent performs as expected and meets user needs. Use a testing environment to simulate real-world interactions and evaluate its responses. During this phase, you should: Identify knowledge gaps: Update the knowledge base with additional information as needed. Update the knowledge base with additional information as needed. Refine system prompts: Adjust the agent's behavior to improve its accuracy and tone. Adjust the agent's behavior to improve its accuracy and tone. Test edge cases: Evaluate how the agent handles complex or unusual queries. For example, if the agent struggles to answer a specific type of question, you can add relevant data to the knowledge base or tweak its training parameters. This iterative process ensures the AI agent is ready for deployment and capable of delivering a high-quality user experience. 4: Integrate Tools for Enhanced Functionality Integrating external tools with your AI agent expands its capabilities and allows it to perform a wider range of tasks. Depending on your business needs, you can connect the AI agent to platforms such as: Slack: Assist team communication and collaboration. Assist team communication and collaboration. Stripe: Enable secure and efficient payment processing. Enable secure and efficient payment processing. Calendly: Simplify appointment scheduling for users. Additionally, you can use APIs or create custom actions to enable advanced functionalities. For instance, an e-commerce business might integrate its inventory management system, allowing the AI agent to provide real-time stock updates to customers. These integrations enhance the agent's utility and ensure it delivers value to both your business and its users. 5: Embed the AI Agent on Your Website Embedding the AI agent into your website is the final step in the integration process. This is typically achieved using an embed code, which allows you to add the agent as a chat bubble or a full-page iframe. To ensure a seamless user experience, consider the following: Customize the interface: Match the chat interface to your website's design by adjusting colors, fonts, and icons. Match the chat interface to your website's design by adjusting colors, fonts, and icons. Craft a welcome message: Create an engaging introduction to encourage users to interact with the agent. Create an engaging introduction to encourage users to interact with the agent. Test responsiveness: Ensure the interface works smoothly on various devices, including desktops, tablets, and smartphones. For example, a travel agency might design the chat interface to include quick links to popular destinations, making it easier for users to navigate and find relevant information. These customizations enhance usability and encourage user engagement. Monitor, Optimize, and Expand Your AI Agent Once your AI agent is live, ongoing monitoring and optimization are essential to maintain its effectiveness. Use analytics tools to track key metrics such as chat logs, confidence scores, and user satisfaction. These insights can help you: Identify improvement areas: Update the knowledge base or refine system prompts to address user feedback. Update the knowledge base or refine system prompts to address user feedback. Enhance performance: Adjust the agent's behavior to better meet user needs and expectations. Adjust the agent's behavior to better meet user needs and expectations. Expand deployment: Extend the agent's reach by integrating it with other platforms like WhatsApp, Instagram, or Slack. Regular updates and optimizations ensure your AI agent continues to deliver value over time, adapting to evolving business needs and user expectations. By taking a proactive approach to maintenance, you can maximize the benefits of your AI agent and solidify its role as a key asset for your organization. Media Credit: Skill Leap AI Filed Under: AI, Guides Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
