iWorld
Snap celebrates Augmented Reality at APAC AR Day
Mumbai: Today, Snap Inc hosted its inaugural APAC AR Day in Mumbai, India, celebrating Snapchat’s leadership in Augmented Reality (AR), its thriving AR creator and developer community, and the company’s ongoing commitment to democratising AR for users and brands.
The event saw Snap CEO and co-founder Evan Spiegel engage in a candid fireside chat with Snap APAC president Ajit Mohan as a part of Spiegel’s three-day trip to India. The discussion centered around the adoption of AR globally by consumers and brands, India’s booming creative talent pool, the future of AR, and Snap’s innovative approach to this transformative technology.
“I love the energy of the young and vibrant Indian developer community. With over 200 million Snapchatters in India, we’re seeing more and more creators, developers and brands tap into our community’s passion for augmented reality experiences. We’re excited to be building the future with such incredible local talent.” said Snap Inc CEO and co-founder Evan Spiegel.
Ajit Mohan also delivered a keynote address that emphasized the strength of India’s thriving AR creator and developer community and their innovative collaborations with brand partners.
Highlighting the hyper-growth of the AR creator community in India, Snap Inc APAC president Ajit Mohan said, “Thanks to the innovation and creativity of these incredibly talented AR developers and creators, Snapchatters around the world are able to engage with immersive AR experiences which bring everyday moments to life. Snapchat is deeply committed to empowering these creators, offering monetization avenues and providing innovative tools to support their creative aspirations. We are honoured to have had creators from all over India and across APAC attend Snap’s AR Day to celebrate this ongoing innovation.”
The event saw AR developers, creators, advertisers, brands, and content creators attend sessions led by expert speakers including Ty Ahmad-Taylor, Snap’s VP product growth, Resh Sidhu, global director Arcadia, Snap’s AR Creative Studio, Haran Ramachandran, Snap’s APAC head of creative strategy, and Jeremy Voss, Snap’s director of product. Through these engaging sessions, attendees were able to learn about Snap’s latest AR innovations and engage with interactive AR try-on stations.
Building Businesses with Snap AR
With over 250 million people1 engaging with AR on Snapchat daily on average, Indian AR developers are building strong businesses on the platform. The Snap AR creator community in India grew by 60% in 20222, and given the positive trends, will continue to grow with talented AR creators from all walks of life in 2024 as well.
One such creator is Vivek Thakur, who began his academic journey in medicine but switched to microbiology due to financial constraints. It was during his college years that he discovered the immersive world of augmented reality, creating the immensely popular “Smoke Flare” Lens which was a global viral Lens that generated over 10 billion impressions on Snapchat. Vivek is now a successful AR developer who collaborates with renowned brands such as Coca-Cola as well as creating custom Lenses found on Snapchat.
Emphasizing the opportunities that are paving new revenue streams for AR creators, Snap Lens Network member Vivek Thakur said, “AR Lenses have gained immense popularity in India as they encourage visual expression. Snap is empowering creators and developers like myself by providing us with creative tools and opportunities to generate revenue through Lens creation. Even for creators without coding backgrounds, by using Snapchat’s Lens Studio, which is incredibly intuitive, they can build careers and strong communities.”
In August this year, Snap launched the Lens Creator Rewards program, a new way for Snap AR creators, Lens developers, and teams to get rewarded for building top-performing Lenses on Snapchat.
Shopping Made Fun and Easy with AR
Snapchat has a distinctive and unduplicated audience, as well as advanced advertising solutions, and has emerged as a key partner for brands. This is especially true given the growing adoption of AR among Indian users, providing businesses with a unique opportunity to connect with this user base.
In India, 95 per cent of Gen Z individuals express a keen interest in using AR for shopping, with 73 per cent believing that AR experiences provide a more personal touch. Moreover, globally, AR demonstrates an impressive 94% higher conversion rate4 when consumers interact with products, resulting in a 25% decrease in return r
ates4.
Snap featured its AR try-on booth at the AR Day event, offering attendees an opportunity to experience this innovative technology firsthand. These stations provided various try-on experiences, including fashion and beauty.
Further igniting the festive fervor, Snapchat is gearing up to bring the festive spirit alive for its 200 million Indian users with the launch of special Diwali-themed AR Lenses.
One of them called the “Sweets Make My Diwali Complete” exclusive Lens, built by Snap Lens Network creator Karishma Katiyar, helps decorate mithai shops with firecrackers, diyas, and floral decor, adding to the festive vibe.
With a Connected AR Lens developed by Snap Lens Network inventor Pal Kagrecha, one can enjoy painting a virtual rangoli during Diwali even if away from home.
These Lenses bring the warmth of Diwali come alive, allowing Snapchatters to celebrate and share the festive spirit with loved ones.
e-commerce
American Express to acquire AI startup Hyper to boost automation
Deal targets expense management as AI reshapes corporate spending tools.
MUMBAI: From receipts to robots, the expense sheet is getting a brain upgrade as American Express moves to bring artificial intelligence into the heart of corporate spending. The company has announced plans to acquire Hyper, a relatively young but fast-rising startup founded in 2022 that builds AI-powered agents capable of organising expenses, generating reports, verifying compliance with budgets and policies, and nudging users with timely reminders. The deal, expected to close in the second quarter of 2026, underscores a growing shift among financial institutions to automate traditionally manual, time-heavy workflows.
Hyper counts Sam Altman among its backers, adding a layer of Silicon Valley credibility to the acquisition. While financial details remain undisclosed, the strategic intent is clear: deepen automation capabilities and sharpen American Express’s position in the competitive corporate spending ecosystem.
The two companies are not strangers. They previously collaborated in 2024 on a co-branded credit card product, suggesting that the acquisition is less a cold buy and more an extension of an existing relationship. With this move, American Express is effectively bringing that capability in-house, aiming to embed AI directly into its commercial services stack.
Chief executive Stephen Squeri had already signalled the direction of travel in a recent shareholder letter, describing AI as a “structural shift” in how businesses operate. The Hyper acquisition appears to be a direct response to that shift, particularly in expense management, where processes such as approvals, compliance checks and reporting remain ripe for automation.
Alongside the acquisition, the company is also expanding its product suite. A recently launched business credit card offers cashback and benefits at an annual fee of $295, with another card expected later this year moves that complement its broader push into commercial services.
Taken together, the strategy points to a future where managing expenses may require fewer spreadsheets and more algorithms. For American Express, the bet is simple, if businesses are rethinking how work gets done, the tools that power that work need to evolve just as quickly.
