The spread of the novel coronavirus has led to a global pandemic and economic stagnation. According to data from the U.S. Bureau of Economic Analysis and JPMorgan Chase bank, industries that have been severely hit include financial services, tourism, aviation, public transportation and hospitality.
New opportunities emerge
During this period of severe global market turbulence, there is economic slowdown and stagnation, but for some industries, new opportunities can arise. Alchemist Codes is proud to announce the recent acquisition by AIQ Limited.
AIQ Limited aims to create a modern-day online ‘Silk Road’, spanning Eastern and Western markets. The vision is to facilitate the interconnection of small and medium-sized enterprises in Eurasian countries to establish a global e-commerce network.
By choosing to support Alchemist Codes’ OCTAPLUS application, AIQ has provided validation of the platform’s technical potential and value. Alchemist Codes believes that its creativity and strength will enable it to surpass the pandemic and move into the economic recovery period where it will be able to fully leverage its advantages and become a major player within the global market.
OCTAPLUS App was officially launched in 2019. The core concept is to allow users to selectively screen the items they are interested in when shopping online. Superior to other online shopping platforms such as Lazada, Shoppee and 11Street, OCTAPLUS boasts of an excellent shopping cashback system with instant online retail promotion functions.
The platform provides users with discounts and quality information on the products including price comparison data, product information and reviews.
It is imperative for international communities to join hands in fighting the pandemic!
In the past, the rapid spread of a virus across international borders has resulted in catastrophic plunges in global stock markets. This pandemic is no different as both European and American stock markets have generally fallen by more than 20 percent.
In efforts to alleviate the impact of this pandemic on the global economy and financial markets, certain overseas central banks have announced emergency monetary policies such as interest rate cuts and quantitative easing initiatives which are designed to increase market liquidity and provide effective support for their financial systems.
The temporary halt in the global economy caused by the pandemic is real, however it is part of the overall economic development trend which experiences highs and lows. Many believe that though there are hardships, the overall trend will be to move forward, rather than take a permanent pause or recession. Once this pandemic period is over, economic recovery can begin and a new generation of business opportunities are expected to emerge.
Highlights in the haze
Founded in April 2018 by Charles Yong, Alchemist Codes is a provider of specialist software solutions that utilise artificial intelligence (AI) capabilities. Its areas of expertise include software engineering, mobile web application development, and social chat platform development. Alchemist Codes has its own professional information technology research and development team dedicated to designing and developing comprehensive information technology solutions for customers within the field of e-commerce.
Charles Yong had analysed and researched the Malaysian e-commerce industry and realised the developmental growth opportunities of the shopping cashback market. This, combined with the implementation of big data analysis, data mining and AI, showed real potential, which led to the initial development of the OCTAPLUS e-commerce platform and mobile application.
From February to March 2020, OCTAPLUS saw a 47.6 percent growth in total users, and the platform has proven itself attractive to both e-commerce retailers and end-users due to its cashback system.
Through the use of social media platforms, OCTAPLUS users can connect with each other. Retailers are also able to connect with users to answer customer inquiries and build brand awareness. Alchemist Codes also utilises the analysis of real-time big data, which helps e-commerce retailers to better target their offerings and anticipate changes in consumer behaviour.
Going forward, Alchemist Codes aims to leverage the rollout of 5G networks, build greater relationships with e-commerce retailers, establish social media partners and extend its consumer and B2B offerings.
AIQ Limited – A Unique Vision
In 2020, Alchemist Codes was honoured to become the first company to be acquired by AIQ Limited. Charles Yong is confident that the backing of AIQ and its investors will have a positive impact on Alchemist Codes’ market value going forward
Charles Yong’s operating concept is also in line with the core concept of AIQ, which is to “Integrate Differential Industry Alliances & Resources”. It is through the combination of wisdom and co-existence that the world may be united!