Is Thailand Ready to Unlock Business Value from Data & AI? - Highlights from Focus Discussion at AIBP Working Group
From streamlining processes to elevating customer experiences, Thailand’s companies are harnessing the power of data and AI to drive efficiency and informed decision-making. However, navigating the complexities of digital transformations poses challenges including (but not limited to) issues such with data quality, silos, and unstructured data. This necessitates a concerted effort in data cleaning, integration, and governance, along with fostering a data-driven culture to ensure organisational readiness.
Participants at the discussion stood at various stages of digital transformation, with some having just gone paperless, some at the stage of consolidating data platforms, and others further along with more advanced technologies adopted.
Some key topics discussed together with delegates include:
Data as an Asset that lays the foundation and fuels decision-making and innovation
Data Champions and Data Stewards drive and execute data-driven initiatives hand in hand
Tech Adoption: Choose wisely! Assess the maturity level of technology (is maturity of Gen AI aligned with your business goals?) and align tech solutions with business goals
Generative AI & GPT-4.0 as a key step towards smarter insights and enhanced decision-making.
Data as an Asset: Thai Companies are at Varying Stages of Maturity
ASEAN Enterprises are increasingly recognising the transformative potential of AI and big data analytics in shaping their future strategies. Over the next 2-4 years, enterprises are directing resources towards big data analytics and AI & ML technologies among others. This strategic pivot underscores a fundamental acknowledgment of the power of data-driven insights in navigating complex business landscapes.
Click on image to view full 2023/24 ASEAN Enterprise Innovation Market Overview
Click on image to view full 2023/24 ASEAN Enterprise Innovation Market Overview
Despite the promise of AI and big data analytics, organisations face challenges in their digital transformations. Issues such as data quality, silos, and unstructured data pose significant hurdles. Addressing these complexities requires efforts in data cleaning, integration, and governance, alongside fostering a data-driven culture to overcome resistance and ensure organisational readiness.
In the region, Petroliam Nasional Berhad (PETRONAS), a Malaysia's state-owned national oil and gas company, has successfully facilitated seamless access to valuable data insights to enhance decision-making and operational effectiveness. At the core of PETRONAS’s strategic initiatives lies the innovative Enterprise Data Hub (EDH), a dual-cloud data liberalisation and enterprise analytics platform, functioning as a data factory for analytics across diverse domains and business entities.
Dr. Akarin Suwannarat , Executive Vice President & Special Assistant to CEO, Energy Absolute PCL (EA), emphasised the importance of educating stakeholders on the impact and use of newer technologies, following challenges in encouraging operational adoption and use.
Data Champions and Data Stewards
Championing specific initiatives, educating stakeholders, and upskilling employees are critical steps in driving successful adoption. Additionally, addressing challenges like talent shortages, data inconsistencies, and legacy system constraints requires holistic strategies encompassing stakeholder engagement, governance frameworks, and investment in workforce development.
Khun Komes Chandavimol, Principle Research Engineer, KASIKORN Business-Technology Group [KBTG], shared about the importance of “data champions” (leaders driving developments in data applications) at KBTG focusing on enhancing AI and data literacy among its workforce. They are actively hiring individuals with a background in data literacy and investing in upskilling existing employees. Meanwhile, Khun Phatcharee Udomthanasub Udomthanasub, Global Associate Director, Data & Technology, DKSH, shared about their journey in exploring the possibilities of General AI (Gen AI) and working towards building a comprehensive data hub, and making use of AI to generate charts for data.
Khun Chanintorn Tepnupa, SVP, Bangkok Bank is placing a strong emphasis on cultivating a data-driven culture and mindset. The organisation recognises that for successful digital transformation, it is crucial to instil a mindset among “data stewards” (data users) that values data and its potential to drive innovation and decision-making.
Tech Adoption: Are Maturity of Technologies Aligned with Your Business Goals?
Effective utilisation of AI and big data analytics necessitates a strategic approach. Companies must prioritise use cases aligned with their core objectives while ensuring the maturity of chosen technologies.
In its deliberations on technology adoption, PTT GC weighs the maturity of available technologies, with a keen focus on exploring Large Language Models(LLM) in recent years, signalling a deliberate approach towards embracing advanced solutions in its digital journey.
Digital Economy Promotion Agency (depa), at the policy level, is investing in visAI, and is working towards making AI accessible for all businesses in Thailand. They aim to provide AI services for SMEs, fostering collaboration and democratisation of AI technology. Technology companies like Kyndryl have also collaborated closely with local enterprises to provide individualised models, highlighting the need for tailored solutions in various sectors, including Banking & Financial Services, and Industrials and Manufacturing.
Enterprises in ASEAN have successfully incorporated the use of AI tailored for their business. PT HM Sampoerna Tbk., a leading player in Indonesia's tobacco industry, efficiently connected with over 225,000 retailers, leveraging AI-powered personalisation, gamification, and chatbots. Real estate developer, Megaworld Corporation, rolled out an Accident Detection Software, an application leveraging computer vision models trained using Artificial Intelligence (AI) in predicting and detecting vehicular accidents within their townships.
As organisations cutting costs and leveraging data to drive efficiency and informed decision-making, business leaders underscore the tangible benefits of data-driven approaches in optimising workflows and fostering innovation.
This marks the first of many industry focus discussions and working groups we are hosting this year in Thailand and across ASEAN. Stay tuned for deeper dives into Data & AI, cybersecurity, sustainability, among other headlining technology applications this year.
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Nominations for the annual ASEAN Enterprise Innovation Awards are now open - with a new Data & AI category for nominations - find out more here. This award recognises and celebrates organisations that have successfully implemented digital transformation projects to drive business growth, improve customer experiences, and achieve operational efficiencies.
