From Data to Growth: Digital Transformation in Today's Businesses in Thailand
In today's rapidly evolving digital landscape, businesses across industries are embracing transformative initiatives to stay competitive and meet evolving customer needs. From banking to manufacturing, companies are leveraging data-driven approaches and cutting-edge technologies to drive innovation and efficiency. This diverse collection of insights offers a glimpse into the digital transformation journeys of organisations such as AXONS CPF IT Center, KASIKORN Business-Technology Group [KBTG] Labs, Krungthai Bank , and PTT Global Chemical (GC)
Through centralised data platforms, in-house solution development, network leveraging strategies, and AI-driven productivity tools, these companies are redefining business operations, enhancing customer experiences, and unlocking new growth opportunities through:
Predictive sales models
Trend prediction models
Customer personalisation and increasing accessibility to financial services
Enhancing staff productivity with Gen AI
Impactful sales-focused projects: a predictive sales model and a combined credit scoring and trend prediction models: Khun Pichai Ongvasith, Director - Data Platform, AXONS CPF IT Center Co., Ltd. and Khun Teerapong W., Director, AXONS CPF IT Center Co., Ltd. shared about how AXONS CPF IT Center is utilising centralised data in a corporate lakehouse and enhanced analytics in Revolutionising Business: A Journey through Data-Driven Evolution and Digital Transformation
Building upon their ongoing digital transformation journey, AXONS CPF IT Center (AXONS) leveraged data by centralising information into a corporate lakehouse, providing a trusted single data source for informed analyses based on historical data. AXONS focused on advanced analytics to extract more value from our data. Two impactful sales-focused projects emerged from business units leveraging this initiatives - a predictive sales model to forecast performance and identify underperforming areas, and a combined credit scoring and trend prediction model to mitigate risk and avoid potential credit issues.
Challenges in data for business use include building models for complex data sets and ensuring data is handled securely and privately. Chotiwit Jaruwansatid, Advisory Solutions Architect, Dell Technologies emphasised the importance of robust data management and governance by prioritising transparency and user-friendly data by developing machine learning capabilities and API implementations.
Enhancing customer satisfaction while reducing costs and developing new revenue opportunities with In-house Development of World Class Onboarding Solutions at Kasikorn Labs was presented by Theerat Sakdejayont, Senior AI Research Engineer and Head of Computer Vision, Kasikorn Labs KASIKORN Business-Technology Group [KBTG]
KBTG faced challenges with third-party solutions lacking local support and meeting specific needs. By developing the in-house eKYC solution AINU, KBTG aims to ensure reliability, agility, and tailored support for Kasikornbank. This approach reduces dependence on external vendors, enabling efficient troubleshooting and customization. Leveraging its deep understanding of Kasikorn Bank's customer base, KBTG can enhance customer satisfaction with finely tuned solutions, thereby enhancing customer loyalty. Additionally, digital transformation offers cost savings and new revenue opportunities. High-quality in-house solutions like AINU can be marketed to other banks, positioning KBTG as an industry leader and driving additional revenue.
Personalised services and enhanced financial services accessibility was demonstrated by Wang Xin, Data Commercialisation Director, Krungthai Bank, on Krungthai Bank's 'Network initiative' by leveraging its financial network, employing data analysis, cloud technology, and AI models for tailored banking solutions and deeper customer understanding.
Empower Better Life for All Thais - Inspired by tech giants like Facebook and LinkedIn, Krungthai Bank launched the 'Network initiative' to leverage their vast financial network, especially as Thailand shifts towards a cashless society. By analysing customer connections through transactions and demographics, the bank aims to deliver personalised services and enhance loan accessibility. Initial phases involved building and validating the network, using data mining to identify relationships, and expanding outreach through indirect connections. In scaling to production, the bank automated data processing using cloud technology, feeding insights into AI models. This continuous learning loop refines their approach, enabling tailored banking solutions and deeper customer understanding. This strategy is particularly advantageous for serving non-main bank customers, who they typically have limited insights on.
Generative AI enterprise solution enhancing staff productivity through virtual assistance in PTT Global Chemical’s "AskMeGC" project shows how data and AI can aid in content creation, document summarization, and semantic searches across enterprise data, benefiting various departments from plant engineering to procurement and human resources was presented by Khun Sorus Urapepattanaphong, Senior Digital Technology Strategist, PTT Global Chemical GC Public Company Limited
GC Digital Transformation Pathway “Data & AI” - The “AskMeGC'' project, a Generative AI enterprise solution, is a successful bottom-up initiative from the digital transformation team. Developed through deep listening and empathy, design thinking, it increases staff productivity amidst headcount reductions during energy transitions, tight markets, and geopolitical turmoil. Designed as a virtual personal assistant, it helps employees create business content, summarise documents, and conduct semantic searches across enterprise data. “AskMeGC'' originated from a convenient features that allows the user to create a business content (e-mail, speech, transactional writing, and general enquiry), compare & summarise the document, as well as conducting the semantic search for insight from the enterprise data and company knowledge graph across all discipline. Positive feedback has led to extensions like ‘HR Advisor’ for HR-related queries and ‘Read4Me’ for document summarization. “AskMeGC'' benefits plant engineers, procurement personnel, new staff, and sales teams, enhancing efficiency and productivity across the company.
The transformative power of technology and data in the modern commercial landscape is undeniable. Firms are leveraging strategic digital initiatives to streamline operations and foster customer-centric innovation. Predictive sales models, bespoke customer experiences, and the burgeoning application of generative AI to enhance employee productivity all represent benchmarks for industry peers. The trials encountered and solutions devised during digital transformations provide a valuable roadmap for those embarking on this essential journey. In the face of relentless technological disruption, embracing digitalisation is not merely an option, but a precondition for sustainable growth and maintaining a competitive edge.
We will be delving deeper into data and AI applications for Thailand’s Digital Economy at the upcoming AIBP Conference & Exhibition Thailand this 16 July in Bangkok - feel free to reach out to us via direct message or at aibp@industry-platform.com.
This article was originally written and posted by Valerie Tan
