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AI company invests 350 million baht in SE Asia – opens office in Phuket

The Thaiger

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AI company invests 350 million baht in SE Asia – opens office in Phuket | The Thaiger

Invacio, an artificial intelligence company, are busy setting up their operations in Thailand as part of their global operations. They are investing up to 350 Million baht in south east Asia

Invacio Research Analytics, a group subsidiary of Invacio founded by William J D West, has launched in Thailand, led by Linleeya West (Thai/Swiss educated)

Linleeya West felt this was an important move for Invacio, as well as Thailand, to encourage the uptake of AI across the country. She feels that Thailand can be market leaders with early adoption rather than being left behind in the coming technological race.

With an auxiliary operations office being developed in Phuket, they have already started the recruitment process to staff their office with dynamic minds and experience Thailand has to offer.

AI company invests 350 million baht in SE Asia - opens office in Phuket | News by The Thaiger

The second site in Thailand is to become a server centre to house some major elements of the Invacio stage 3, self learning, AI system (Jean). They are in the process of collecting and shipping components to construct a supercluster/supercomputer. The components of choice are the old style PlayStation 3s that Sony built in order to win the Blu-Ray war. Sony effectively put so much unrestricted parallel processing power into their system that it is now possible to rewrite the Central Processing Units (CPUs) and create an environment into which Artificial Intelligent software can be uploaded. Creating a remarkably powerful yet scalable system that even today can beat a lot of specifically designed AI hardware for power.

Phuket has been chosen as a site for a number of reasons with the main ones being: The welcoming and innovative nature of the Thai state, its relatively-close proximity to major emerging markets of the world (a mere six-hour flight from most major financial centres in Asia), access to a growing pool of highly qualified and experienced personnel and also because of the security arrangements around the island.

Once the new server and operations centre are fully functioning, Invacio will be reaching out to local universities and inviting applications from their faculties and students to join the team and help grow the company from the inside. Additionally, any and all local government agencies are invited to get in touch and explore ways to pool resources and to discuss ways to integrate into any areas where AI may be of assistance in their day to day activities.

In addition to the projects in Thailand, Invacio have also secured brand new office space in India and recruited additional personnel into the rear-development team, moving with the times these personnel are predominantly female coders – diversity something we here at invacio are very proud of.

With ready access to an eager and talented workforce Invacio are aiming to become a global player in multiple data and information analysis sectors. Using a global network of contacts, Invacio with their recent addresses at the UN and with multiple States are all set to bring global attention to Thailand as a hub of AI services across many industries.

Invacio’s systems are currently running at limited capacity, across petabyte servers and the cloud, the new facilities will allow Invacio to begin their global multi-chain product roll out.

Invacio’s public services will include, but not be limited to, operations within the financial and market data sectors, data analysis, secure communications and social networking, with further provisions available at corporate and government level in the lines of AI driven intelligence or militarisation of AI analysing.

Please contact Roger Baker via email at Roger@invacio.com for any enquiries or visit invacio.com to learn more about their other divisions.

 

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Bangkok

Airports of Thailand block entrance to new Central Village at Suvarnabhumi

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Airports of Thailand block entrance to new Central Village at Suvarnabhumi | The Thaiger

PHOTO: The Nation

Please be seated and fasten your seat belts due to severe turbulence at the front of the almost-open Central Village “luxury outlet” shopping area next to Suvarnabhumi airport in Bangkok.

A dispute between Airports of Thailand and Central Pattana, the owners of Central Village, has hit some mid-air turbulence after AOT officials set up tents blocking the entrance of the hew shopping precinct to open on August 31. The AOT claims the outlet “trespasses the flying zone of Suvarnabhumi Airport” next door.

AOT president Nitinai Sirismatthakarn says he sent officials to inspect the disputed area earlier and found that Central Village was building a road connecting the outlet to the main road.

“The road they are building trespasses the airport’s flying zone. The land was assigned to AOT’s administration by the Treasury Ministry.”
Nitinai added that Central Village also applied for permission to lay a water pipe through the land, which cannot be approved because this, too, would violate flying zone regulations.

Meanwhile, Central Pattana issued a letter claiming its construction strictly follows current urban laws and regulations, and that it had received approval from related agencies before commencing all work.

The letter also said that applying for tap water and electricity connections from responsible authorities is a fundamental right to basic infrastructure, which every citizen is entitled to.

SOURCE: The Nation

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ASEAN

US and China ramp up the rhetoric and the tariffs in a day of tit-for-tat

The Thaiger

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US and China ramp up the rhetoric and the tariffs in a day of tit-for-tat | The Thaiger

Beijing has unveiled a new round of retaliatory tariffs on the US valued around US$75 billion. China will now place additional tariffs of 5%-10% on US imports starting next week.

The tit-for-tat trade war between the world’s two largest economies is causing widespread disruption to supply chains and long-held trade conventions.

China’s Finance Ministry says they will also resume tariffs on US imports of automobiles and automobile parts – 25% for vehicles and 5% on parts starting December 15.

China said it would take countermeasures last week after the US announced it would impose new 10% tariffs on Chinese imports worth US$300 billion. The new Chinese tariffs will target 5,078 exported products, including soybeans, seafood, coffee, whiskey and oil.

US President Trump responded yesterday saying that he would increase rates on existing tariffs on Chinese imports.

“We don’t need China and, frankly, would be far better off without them.”

The US President also “ordered” US companies “to immediately start looking for an alternative to China.”

the American Farm Bureau claim the tit-for-tat tariff reaction from the President “signals more trouble for American agriculture.”

“We know continued retaliation only adds to the difficulties farm and ranch families are facing and takes the situation in the exact wrong direction,” the statement said.

But the US National Retail Federation says the President’s demands are “unrealistic.”

“For years, retailers have been diversifying their supply chains, but finding alternative sources is a costly and lengthy process that can take years. It is unrealistic for American retailers to move out of the world’s second largest economy.”

“Our presence in China allows us to reach Chinese customers and develop overseas markets. This, in turn, allows us to grow and expand opportunities for American workers, businesses and consumers.”

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Business

Thai finance minister confident GDP will pick up next quarter

The Thaiger & The Nation

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Thai finance minister confident GDP will pick up next quarter | The Thaiger

Deputy PM Somkid Jatusripitak says he is confident Thailand’s gross domestic product will pick up in the fourth quarter as a result of the launch of 316 billion baht economic stimulus package from the Thai government.

He claims the new rice price guarantee scheme will also assist the agricultural sector.

The Cabinet approved the new packages at its Tuesday meeting. The National Rice Policy Committee approved a budget of 21 billion baht to guarantee the price of rice harvested in 2019 and 2020 the following day.

Somkid recently held a meeting with the Bank of Thailand and Finance Ministry to discuss a plan to set up a joint committee to steer the Thai economy.

Meanwhile, Standard Chartered Bank has downgraded its 2019 GDP growth forecast for Thailand to 3% from 3.3%. The bank expects growth in the second half to improve from a weak 2.6% in the first half.

According to the National Economic and Social Development Council, the country’s GDP expanded 2.3 per cent in the second quarter compared to the previous quarter’s growth of 2.8 per cent.

According to the Finance Ministry, the country’s debt level in the next five years is expected to be 46.73%, while the GDP next year is expected to expand by 3.5%, then 3.6% in 2021, 3.8% in 2022 and 4% in 2023.

SOURCE: The Nation

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