Thai-lizing industries with AI: The future is machine-made

Thailand is looking toward artificial intelligence (AI) to boost economic growth and the kingdom’s vision to become the globe’s fifth-largest economy by 2027.

The government underlines AI as a major tool to boost its economy to automate processes, reduce costs, and increase productivity, all of which can help to increase economic growth.

AI can be used to provide more accurate predictions and insights into markets, which can lead to better decision–making and overall efficiency.

These themes were explored at the First Open AI Hack Fest recently.

Nattapat Aikpol, the head of the Digital Economy Promotion Agency (depa), is leading the charge and is convinced that AI will significantly increase productivity and supplement human labour across multiple industries, reported opengovasia.

Through depa’s Digital Startup Fund, the organisation can help turn ideas into profitable businesses. They’re also promoting the use of AI in various sectors such as healthcare, pharmaceuticals, insurance, shopping and trade, industrial automation, hospitality, and food and beverage.

As part of its preparation for Thailand 4.0, the country is working on a National Artificial Intelligence Action Plan. The government invested in AI research to boost private and public sector initiatives, and it’s already generating more economic value. The strategy will help build an ecosystem for innovation, develop human capital, and establish an environment for technical competitiveness. It’s a win-win situation for everyone involved.

The Thammasat AI Centre is another exciting initiative, and it’s all about fostering collaboration between the government, businesses, and academic organisations. They’ve got their sights set on higher global market value and a rise of up to 26% in economic worth. The Thai government is optimistic about the future of AI because of the various projects being done to integrate it into their National Development Plans.

Despite its challenges, Thailand is working hard to build the human capabilities and skills necessary for an AI ecosystem. They’re establishing formalised networks and partnerships and implementing systematic educational programs to educate the next generation of AI specialists.