Velocity Ventures experts believe that startups will build their business models on chatbots.

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Back in 2014, businesses focusing on technology, logistics, and e-commerce weren't big, but when NinjaVan came into the picture,

the startup scene saw an increase in entrepreneurs turning their attention to the sector. The same phenomenon is likely to happen again in today's startup economy. But this time it's deep technology—technology that requires a lot of investment in R&D.

In an interview with the Singapore Business Review, Bennett Lee, investment director at Velocity Ventures, said there will be “a lot of new startups built on artificial intelligence (AI) technology and ChatGPT.”

Jeffrey Chi, Vickers Venture Partners' Asia vice president, believes that deep technology will flourish. Especially as the sector is already mature in 2022.

Raymond Moh, a senior consultant at Cambridge Advisers Pte Ltd and serving as a consultant at Singapore University of Technology and Design, made similar observations. He said that many new startups are “Develop disruptive applications in the Web 3.0 space