The Securities and Exchange Commission of Pakistan (SECP) has officially granted a license to KOKO Tech Pakistan (Private) Limited, a subsidiary of Alibaba Group, to operate Buy Now, Pay Later (BNPL) services in Pakistan.

According to the SECP, KOKO Tech Pakistan will introduce modern, AI-powered credit assessment systems along with globally proven digital infrastructure. This is expected to bring more innovative and data-driven financing solutions to the local market.

The initiative aims to improve access to consumer financing, especially for young individuals, freelancers, and small businesses that often face challenges in obtaining loans through traditional banking systems.

With the backing of Alibaba’s global expertise and strong financial resources, KOKO Tech Pakistan is well-positioned to support small and medium enterprises (SMEs), promote e-commerce growth, and contribute to Pakistan’s transition towards a more inclusive, technology-driven financial ecosystem.

The SECP also noted that this move represents a direct inflow of foreign investment into Pakistan’s financial sector.

Speaking on the development, SECP Chairman Dr Kabir Ahmed Sidhu said that the entry of Alibaba Group will enhance competition and drive innovation in the country.

He further added that Pakistan continues to be an attractive destination for international investors, thanks to its large population, increasing digital adoption, and improving regulatory environment.

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Over the past decade, Pakistan’s freelance economy has been widely celebrated as a success story, an accessible pathway for young professionals to earn globally without leaving their homes. However, by early 2026, signs of structural stress have become increasingly visible.

Freelancers across major platforms are reporting declining orders, reduced earnings, and growing uncertainty. While anecdotal at first, emerging patterns suggest a broader transformation underway one driven by technological disruption, shifting global demand, and local systemic challenges.

From Rapid Growth to Structural Fragility

The COVID-19 pandemic accelerated digital adoption worldwide, and Pakistan benefited significantly from this shift.

• The country was ranked among the fastest-growing freelance markets globally.
• Freelancers contributed hundreds of millions of dollars in foreign exchange annually.
• Platforms like Fiverr and Upwork became central to this growth.

Despite this success, much of the freelance activity was concentrated in low-complexity services such as basic graphic design, data entry, and entry-level content writing. These categories, while accessible, are inherently vulnerable to automation.

AI as a Structural Disruptor

The introduction of generative AI tools particularly ChatGPT has significantly altered the economics of freelance work.

Recent research indicates a measurable decline in demand for tasks that are easily automated, including writing, basic coding, and repetitive digital services.

A separate multi-institutional study reported an approximate 21% decline in demand for automation-prone freelance jobs following the introduction of generative AI tools.

This shift reflects a broader trend: businesses are increasingly able to generate content, code, and design outputs internally using AI, reducing reliance on external freelancers for routine work.

Market Confidence and Infrastructure Constraints

Beyond technological disruption, infrastructure reliability has also influenced market behavior.

Industry bodies such as Pakistan Software Houses Association have highlighted concerns around:

• Internet reliability
• Policy unpredictability
• Communication disruptions

In global outsourcing markets, reliability is critical. Even minor inconsistencies can prompt clients to shift work to more stable regions.

Platform Dynamics and Increasing Competition

Freelance platforms have also evolved under increasing global competition.

On platforms like Upwork:

• Competition has intensified due to oversupply
• Paid bidding systems have increased the cost of acquiring work

This has made entry and sustainability more difficult, particularly for new or mid-level freelancers.

The Emergence of Low-Value Digital Labor

Another shift is the growing role of freelancers in AI training ecosystems.

Companies such as Scale AI rely on distributed workers for data labeling and model evaluation tasks. While these opportunities provide income, they are typically low-paying and task-based, offering limited long-term growth.

This reflects a transition from independent freelancing toward commoditized digital labor.

Skill Mismatch and Educational Gaps

A structural issue underlying these changes is the mismatch between current skill development and evolving market demand.

Many training programs still emphasize outdated freelance skills, while global demand is shifting toward:

• AI integration
• Automation systems
• Advanced digital problem-solving

Without adaptation, this gap may continue to widen.

The Shift from Tasks to Systems

The freelance economy is transitioning from a task-based model to a systems-based model.

Traditional freelancers typically sell time and complete tasks manually.
Modern AI-enabled professionals, by contrast, design systems that automate workflows and deliver scalable outcomes.

This shift fundamentally changes how value is created and priced in the digital economy.

Opportunities in the New Landscape

Despite current challenges, new opportunities are emerging in areas such as:

• AI automation and workflow design
• Prompt engineering
• AI-assisted development
• Business process optimization

Professionals who adapt to these areas are better positioned to remain competitive.

Policy and Ecosystem Considerations

To sustain growth in the Pakistan’s freelance economy, structural improvements are needed:

• Updated and industry-relevant curricula
• Investment in applied AI education
• Reliable internet infrastructure
• Alignment between policy and global technological trends

Conclusion

Pakistan’s freelance economy is not disappearing, it is evolving.

The current slowdown reflects a deeper structural transformation driven by automation, shifting demand, and systemic inefficiencies.

For individuals and institutions alike, the path forward depends on adaptation. The divide is no longer between freelancers and clients, but between those who can effectively leverage AI and those who cannot.

Links:

•  “The Impact of ChatGPT Launch on the Demand for Content Generation Services in the Freelancing Market,” SSRN Working Paper.
  Available at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4686658
•  “Who Is AI Replacing? The Impact of Generative AI on Online Freelancing Platforms,” research associated with Harvard Business School and partner institutions (Imperial College Business School, DIW Berlin). Widely cited in secondary analyses reporting ~21% decline in automation-prone freelance jobs.
• https://profit.pakistantoday.com.pk/2026/02/17/pakistani-freelancers-earn-557-million-in-h1-fy26-driving-growth-in-services-exports/
• https://www.payoneer.com/resources/no-ports-no-tariffs-how-pakistans-online-service-exporters-stay-resilient/

The post Pakistan’s Freelance Economy at a Crossroads: AI Disruption, Policy Gaps, and the Rise of a New Digital Elite appeared first on Techlist.

Arsyan Ismail – Early first of ai.com domain name

A domain name registered by a Malaysian child in the early days of the internet has become one of the most valuable digital assets ever sold. AI.com, originally secured in 1993 by Arsyan Ismail when he was just 10 years old, has been sold for USD 70 million in a landmark transaction that underscores the growing strategic value of ultra-premium web addresses.

Arsyan Ismail registered the two-letter domain using his mother’s credit card, reportedly charging $100 at the time. The choice was simple: the letters matched his initials, “A” and “I.” There was no market forecast or long-term investment framework behind the decision — only instinct and curiosity during the internet’s formative years.

More than three decades later, that early registration has culminated in one of the largest publicly known domain sales. The buyer, Kris Marszalek, CEO of Crypto.com, completed the purchase in cryptocurrency in April 2025. The deal remained private for months before becoming public, drawing global attention across technology and investment circles.

A Career Built Before the AI Boom

While the sale has dominated headlines, it represents just one chapter in Ismail’s broader technology career.

A computer science graduate from the University of Nottingham in the United Kingdom, Ismail began building online platforms in the late 1990s. In 2003, he helped launch Kawanster, one of Malaysia’s earliest social networking platforms, at a time when online communities were still emerging globally. Though it did not expand internationally, it introduced localized social networking to Malaysian users well before global platforms took over the market.

He later contributed to Malaysia’s first blog advertising network, Nuffnang, during a period when digital advertising infrastructure in Southeast Asia was still developing. His experience also includes serving as a senior web developer at Friendster, where he worked on large-scale systems during the platform’s peak traffic years.

Over the past decade, his focus shifted toward blockchain and cryptocurrency technologies. By 2014, he was already exploring Bitcoin-related initiatives, years before digital assets gained mainstream institutional recognition. His work centered on building secure, transparent transaction systems designed to withstand technical and regulatory scrutiny.

Digital Scarcity as Strategy

Beyond AI.com, Ismail has accumulated a portfolio of rare digital identifiers — including ultra-short domain names, minimalist email addresses such as a@a.ai, Ethereum Name Service assets, and distinctive numeric phone numbers. To many, such holdings may appear unconventional. In digital branding terms, however, brevity and memorability carry substantial long-term value.

Two-letter domains in particular represent extreme scarcity. With only 676 possible combinations in the Latin alphabet, they function as digital equivalents of prime real estate. Long before artificial intelligence became a dominant global industry, AI.com carried inherent strategic weight due to its simplicity and universal recognition.

AI.com’s Next Chapter

The domain’s new ownership has shifted attention from the transaction price to its intended application. The AI.com platform is expected to support decentralized AI agents designed to operate collaboratively, automating tasks and optimizing workflows while prioritizing encrypted, secure data handling.

As artificial intelligence becomes more embedded in enterprise and consumer systems, premium digital real estate tied directly to the sector’s name carries both symbolic and commercial significance.

A Lesson in Long-Term Thinking

For early-stage entrepreneurs, the story highlights the power of patience in digital investing. What began as a $100 domain registration in the early 1990s evolved into a multi-decade hold that intersected with blockchain growth and the global AI surge.

Ismail’s trajectory reflects consistent engagement with emerging technologies rather than reactive trend-chasing. From early social networks to digital advertising infrastructure and blockchain systems, his career has followed the arc of the modern internet itself.

As online ecosystems grow more crowded, compact and memorable digital identities are increasingly positioned as strategic assets. The AI.com sale demonstrates that in the digital economy, scarcity combined with foresight can yield extraordinary returns — even when the original decision was made by a ten-year-old with little more than intuition.

The post The 10-Year-Old Who Registered AI.com — and Just Cashed Out for $70M appeared first on Techlist.

Coursera has announced plans to acquire rival online education company Udemy in an all-stock transaction that values the combined business at $2.5 billion. The deal comes as the online education sector continues to consolidate following a post-pandemic slowdown and increased investor scrutiny.

Under the agreement, Udemy shareholders will receive 0.8 shares of Coursera for each Udemy share they own, valuing Udemy at approximately $930 million, according to Reuters calculations. Following the announcement, Coursera shares rose about 4%, while Udemy stock surged nearly 22%.

Focus on AI and Workforce Upskilling

Both companies believe the merger will strengthen their ability to serve corporate clients seeking workforce training—particularly in artificial intelligence (AI), data science, and software development. As generative AI rapidly reshapes industries, employers are investing heavily in reskilling and upskilling their employees.

“At a high level, this deal makes sense both strategically and financially,” said Stephen Sheldon, an analyst at William Blair. He noted that the companies’ complementary content libraries and overlapping markets could unlock meaningful cost synergies.

Deal Timeline and Valuation

Based on Coursera’s most recent closing price, the offer values Udemy shares at $6.35, representing a premium of about 18.3%. The companies expect the transaction to close in the second half of next year, pending regulatory and shareholder approvals.

Different Models, One Platform

Coursera is known for partnering with universities and institutions to offer degree programs and professional certificates, while Udemy operates a marketplace of independent instructors, selling individual courses and enterprise subscriptions. The merger aims to combine these strengths into a single, more competitive platform.

Investor Caution Persists

Despite strong narratives around AI-driven growth, investors remain cautious about online education stocks due to intense competition, pricing pressures, and uncertain returns on AI investments. Udemy shares are down roughly 35% year-to-date, while Coursera has declined about 7%, leaving both companies trading well below their post-IPO highs.

If approved, the Coursera–Udemy merger could mark one of the most significant consolidations in online education, positioning the combined firm to better compete in the fast-growing AI training market.

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Pakistan’s international internet capacity has received a major upgrade following the activation of the South-East Asia–Middle East–Western Europe 6 (SEA-ME-WE 6) submarine cable system, the Ministry of Science and Technology announced on Saturday.

The new 19,200-kilometre fibre-optic network connects Pakistan to key global digital hubs from Singapore to France, significantly improving the country’s online speed and network resilience.

According to the ministry, SEA-ME-WE 6 is designed to deliver over 100 terabits per second (Tbps) of total system capacity, making it one of the highest-capacity and lowest-latency routes linking Southeast Asia, the Middle East and Western Europe.

Pakistan Receives 13.2 Tbps — 4 Tbps Activated Immediately

Under the deployment plan, Pakistan has been allocated 13.2 Tbps, out of which 4 Tbps has already been activated, marking one of the most substantial bandwidth boosts in recent years.

The additional capacity is expected to enhance the performance of:

• Cloud services

• Data centres

• Fintech platforms

• E-commerce businesses

• Streaming services

• Digital enterprises

Officials say this upgrade will significantly strengthen Pakistan’s digital infrastructure and help support the rapidly growing online economy.

Higher Capacity & Stronger Resilience

The SEA-ME-WE 6 system includes more fibre pairs and double the capacity of earlier SEA-ME-WE networks, ensuring improved resilience on high-traffic Asia–Europe data routes.

The ministry added that the system offers:

• Geo-diversified crossings through Egypt

• Enhanced fault protection

• Faster scalability

• Lower operational costs for telecom operators

These features contribute to greater redundancy for global internet connectivity and add a critical new layer to Pakistan’s digital backbone.

Recent Submarine Cable Developments

Earlier this year, in February 2025, Pakistan Telecommunication Company Ltd (PTCL) successfully landed the Africa-1 submarine cable in Karachi, further strengthening the country’s international connectivity corridor.

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Adobe (Nasdaq: ADBE) has announced a definitive agreement to acquire Semrush Holdings, Inc. (NYSE: SEMR), a global leader in brand visibility, for $12.00 per share in an all-cash transaction valued at approximately $1.9 billion. The acquisition represents a major move in Adobe’s strategy to expand its AI-powered marketing, search optimization, and brand intelligence capabilities.

Semrush, known for its data-driven Generative Engine Optimization (GEO) and advanced Search Engine Optimization (SEO) solutions, has become a crucial tool for companies seeking to remain visible in an evolving digital landscape shaped by AI-driven consumer behavior.

A Strategic Push into the AI Search Era

Adobe, which already powers customer experience management for 99% of the Fortune 100, is doubling down on tools that help brands remain discoverable. With the rise of LLM-based platforms like ChatGPT and Google Gemini, marketers are rethinking how customers find and interact with brands.

As generative AI becomes a primary interface for information and product discovery, brand visibility across AI search, traditional search engines, and owned channels has become a mission-critical priority for CMOs.

“Brand visibility is being reshaped by generative AI, and brands that don’t embrace this opportunity risk losing relevance and revenue,”
said Anil Chakravarthy, President of Adobe’s Digital Experience Business.

By integrating Semrush’s GEO technology and more than a decade of SEO expertise, Adobe aims to offer the industry’s most comprehensive solution for understanding and improving how brands appear in LLM-generated search results, across web channels, and within customer engagement journeys.

Semrush’s Rapid Growth and Enterprise Adoption

Semrush has gained strong momentum, especially among enterprise clients. In its most recent quarter, the company reported:

• 33% year-over-year ARR growth in its enterprise segment

• major clients including Amazon, JPMorgan Chase, and TikTok

Semrush CEO Bill Wagner emphasized how the acquisition will expand marketers’ abilities to remain relevant as AI search becomes mainstream.

“With the advent of LLMs and AI-driven search, brands need to understand where and how their customers are engaging,”
Wagner said.
“This combination delivers deeper insights and greater discoverability across today’s evolving digital landscape.”

Adobe + Semrush: What the Combined Platform Will Offer

Adobe’s existing suite—including AEM, Adobe Analytics, and the recently launched Adobe Brand Concierge—already supports content supply chains and customer experience optimization.

With Semrush integrated, marketers will gain:

• a unified view of brand visibility across LLMs, search engines, and digital channels

• enhanced AI-driven insights to improve ranking in generative search

• powerful GEO + SEO tools to optimize reach and relevance

• deeper analytics on how brands appear in AI-generated narratives and recommendations

Together, the companies aim to deliver the first comprehensive brand visibility and AI search optimization ecosystem.

AI Search Trends Show Explosive Growth

Adobe Analytics recently reported a massive 1,200% year-over-year increase in U.S. retail traffic coming from generative AI sources—highlighting how quickly consumer behavior is shifting toward AI-assisted discovery and shopping.

Transaction Details

• Deal value: $1.9 billion all-cash, at $12.00 per share

• Expected closing: First half of 2026

• Conditions: regulatory approvals, customary closing conditions, and approval from Semrush shareholders

• Over 75% of Semrush voting power—including founders—has committed to support the transaction

• Advisors:

  • Adobe: Wachtell, Lipton, Rosen & Katz

  • Semrush: Centerview Partners (financial), Davis Polk & Wardwell (legal)

A Defining Moment for the Future of SEO and AI Marketing

If completed, the acquisition will position Adobe as a dominant force in the rapidly changing world of AI-driven search and brand visibility. As businesses prepare for a future where generative AI shapes consumer decisions, the Adobe–Semrush combination is poised to set a new industry standard for discoverability, SEO performance, and customer engagement.

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Experts at a seminar in Islamabad have projected that Pakistan’s National Artificial Intelligence (AI) Policy 2025 could increase the country’s GDP by 7–12% and create up to one million new jobs by 2030, if executed effectively.

The seminar, titled “Bridging Gaps in Pakistan’s AI Roadmap: Opportunities, Challenges, and the Way Forward,” was organized by the Pakistan Institute of Development Economics (PIDE). Policymakers, tech leaders, and entrepreneurs gathered to discuss how AI could reshape Pakistan’s economy.

Dr. Anil Salman, Chair of the Government’s AI Policy Committee, highlighted that the policy focuses on building an ethical, inclusive, and innovation-driven AI ecosystem. He said the framework was shaped with input from UNESCO, ADB, and the Commonwealth, and aims to position Pakistan as a regional hub for AI development.

Dr. Najibullah, Member of Science and Technology at the Planning Commission, announced a Public Venture Capital Fund of Rs 2 billion to support AI startups and innovation accelerators. He stressed the potential of AI in agriculture, healthcare, and education, while noting challenges such as data infrastructure and cybersecurity.

From the private sector, Suniya Shahid, CEO of Techvention Ltd., called for AI funds for women-led startups and ethical auditing frameworks to ensure responsible use of AI tools.

Dr. Naveed Iftikhar, CEO of Atomcamp, joined virtually and emphasized the need for upskilling across industries, encouraging collaboration with global partners to strengthen digital infrastructure.

Closing the discussion, Dr. Nasir Iqbal, Associate Professor at PIDE, said the success of the AI policy should be measured by productivity, inclusivity, and competitiveness, warning that poor implementation could widen inequality.

The experts agreed that while Pakistan faces obstacles in infrastructure and funding, the Pakistan AI Policy 2025 provides a strong foundation for a tech-driven, knowledge-based economy.

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Netflix shares are headed for their steepest weekly drop since April amid a Musk-led boycott campaign.. (AP Photo/Alex Brandon, File)

Netflix (NASDAQ: NFLX) shares slid nearly 5% this week, marking their steepest decline since April 4, as Tesla CEO Elon Musk intensified his campaign urging consumers to cancel subscriptions to the streaming giant.

The drop comes in sharp contrast to the broader market, which gained about 2% to fresh record highs, and also trails Big Tech peers like Amazon (NASDAQ: AMZN) and Meta (NASDAQ: META).

Musk Urges #CancelNetflix

Musk, who has more than 227 million followers on X (formerly Twitter), accused Netflix of promoting transgender content in children’s programming. “Cancel Netflix for the health of your kids,” he posted earlier this week, while sharing a series of messages criticizing the streamer.

Netflix has not issued a comment in response to the boycott calls.

Cancel Netflix for the health of your kids https://t.co/uPcGiURaCp

— Elon Musk (@elonmusk) October 1, 2025

Earnings Ahead

The boycott comes just weeks before Netflix’s third quarter earnings report. Analysts note that while the company no longer discloses subscriber figures quarterly, the near-term financial impact of cancellations could be difficult to measure.

In its latest earnings release, Netflix topped Wall Street expectations and raised its full-year revenue outlook. The company guided for Q3 revenue of $11.53 billion and EPS of $6.87, both above consensus. For 2025, revenue is projected between $44.8 billion and $45.2 billion, boosted by strong adoption of its ad-supported tier, favorable foreign exchange trends, and steady user engagement.

Executives expect advertising revenue to double to $3 billion in 2026, supported by popular returning shows like “Stranger Things”, “Wednesday”, and “Squid Game”, alongside growing investment in live sports streaming.

Not the First Backlash

Netflix has faced public boycotts before. In 2020, the release of the French film “Cuties” sparked bipartisan criticism, with cancellation rates briefly surging fivefold. However, the company ultimately saw little long-term damage.

Analysts Remain Bullish

Despite recent volatility, many analysts remain optimistic. Oppenheimer’s Jason Helfstein reiterated an Outperform rating and a $1,425 price target, citing strong Q3 engagement data, with viewing hours up 20% year-over-year, as well as momentum in live programming and original content.

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The National Database and Registration Authority (NADRA) has introduced a digital “Proof of Life” service for pensioners, aimed at eliminating the long-standing challenges of physical fingerprint verification.

The new feature, available on the Pak Identity mobile app, allows pensioners to verify their identity online without visiting government offices. This reform is especially significant for senior citizens whose fingerprints fade with age, making traditional biometric verification unreliable.

Syed Shabahat Ali, NADRA’s Director of Media, said the initiative is designed to ensure “convenience and dignity for our senior citizens” by providing a sustainable digital alternative to outdated verification methods.

A Relief for Pensioners

For years, pensioners have faced repeated trips to NADRA centres, often accompanied by family members, only to encounter biometric rejections that delayed pension disbursements. The new digital system will save time, reduce stress, and restore autonomy to elderly citizens.

Step Toward Digital Governance

The service marks a milestone in Pakistan’s digital governance drive, showing how technology can improve public service delivery and reduce bureaucratic hurdles. If successful, experts believe this model could be replicated for other welfare and social protection programs.

However, challenges remain. Experts warn that digital literacy, smartphone access, and internet availability—particularly in rural areas—must be addressed to prevent digital exclusion of vulnerable groups.

By modernizing pension verification, NADRA has taken a key step toward making Pakistan’s public services more inclusive, efficient, and citizen-friendly.

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Photo by Faizur Rehman on Unsplash

Pakistan’s freelancing industry is on track to generate over $1 billion in annual earnings, thanks to growing digital skills, strong institutional backing, and expanding global opportunities, experts said at the AI Beyond Border Summit 2025, held during the 26th ITCN Asia in Karachi.

Industry leaders highlighted that the freelancing community is becoming a cornerstone of Pakistan’s digital economy, attracting international clients and contributing valuable foreign exchange. With over 2.3 million freelancers, the country is already ranked among the top five global freelancing markets.

Chairman of the Pakistan Freelancers’ Association (PAFLA), Ibrahim Amin, said coordinated efforts from government, industry, and financial institutions are helping freelancers thrive.

“Young, tech-savvy professionals are driving digital growth, creating opportunities not only for themselves but also for women and youth across Pakistan,” he added.

Several initiatives are fueling this growth. PAFLA, Innovista, the Pakistan Software Export Board (PSEB), and 1Link are providing training, mentorship, tax guidance, and payment solutions to strengthen the ecosystem.

Tahir Malik, Project Director at Innovista Indus, shared that Innovista is supporting freelancers through training programs, mentorship, and entrepreneurship development. The platform also launched the National Agentic AI Hackathon, engaging 1,000 participants from six cities, to boost innovation and competitiveness.

From the financial side, Muhammad Shahzab of 1Link stressed the importance of reliable payment systems.

“We are building seamless digital payment infrastructure that ensures fast, transparent, and secure transactions, enabling freelancers to compete globally,” he said.

The summit also featured renowned AI experts including Imran Ali Dina, Khadija Shahzad, Hassan Bin Liaquat, Ammara Aftab, and Fahad Shaikh, who discussed the role of AI in shaping the future of freelancing.

Stakeholders believe that with targeted policies, advanced training, and strong financial integration, Pakistan’s freelance sector will continue to scale and contribute significantly to IT exports and economic growth in the coming years.

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