The new head of IBM Thailand and regional leader for Schneider Electric have sounded off on their visions for Thailand amidst multiple challenges, including geopolitical conflicts, economic obstacles and disruptive technology.
Crafting a strategic plan
“In an uncertain, complex world, the best course of action is to concentrate on what truly matters. Essential for achieving success in both life and business is the ability to focus on the aspects within our control,” Anothai Wettayakorn, IBM Thailand’s new managing director and technology leader, told the Bangkok Post.
By identifying these elements, crafting a strategic plan, and maintaining a positive outlook, leaders can remain concentrated on what truly counts and effect positive change, said Mr Anothai.
An unprecedented convergence of technologies is driving a new era of discontinuous innovation, and Asia-Pacific as well as Thailand hold enormous possibility, he said.
Artificial intelligence (AI) is one part of this extraordinary convergence of technologies — including hybrid cloud and quantum computing — that offers real solutions to challenges facing the country, such as climate change, increased urbanisation, and trade and labour force disruption.
“Generative AI is at a defining moment as it infuses throughout the economy and society, becoming vital for our future prosperity and quality of life,” said Mr Anothai.
In Thailand, the generative AI market is projected to grow by 23.5% from 2024 to 2030, resulting in a market volume of US$1.08 billion in 2030, according to global data researcher Statista.
IDC expects at least a quarter of 2,000 global companies to credit their AI capabilities with contributing to more than 5% of their earnings.
It is no surprise that AI investments are likely to continue to grow as around half of Global 2000 firms plan to increase AI spending, viewing it as a strategic imperative.
Mr Anothai said that in the next industrial revolution, making the right investments in this emerging technology and empowering people with skills to work creatively, productively, and responsibly with generative AI will create a multiplier effect for businesses.
But the wrong bets could open the door to data privacy concerns, legal liabilities, and a whole host of ethical issues.
Deepfakes are, for example, one of the most pressing challenges posed by generative AI. As AI becomes powerful and pervasive, responsible AI cannot be an afterthought, Mr Anothai added.
“For IBM, the purpose of AI is to augment — not replace — human expertise, judgement, and decision-making. Data and insights generated from data must also belong to their creator, not their IT partner,” he said.
Most importantly, powerful new technologies like AI must be transparent, explainable, and free of harmful and inappropriate bias for society to trust them, Mr Anothai said.
While 2023 focused on AI’s endless potential and impacts to various aspects of society, in 2024, organisations that want to employ AI to unlock new value and insights, to accelerate discovery or to gain competitive edge have a fundamental responsibility to foster trust in the technology.
“We must ensure AI is trustworthy, fair, transparent, accountable, and aligned with human values. Without responsible AI and AI governance framework, companies won’t be able to adopt AI at scale.”
Mr Mongkhon says Schneider Electric plays a significant role in assisting organisations with their digital transformation to foster sustainability.
Green Gap
Mongkhon Tangsiriwit, cluster president of Schneider Electric for Thailand, Laos and Myanmar, told the Bangkok Post that the company assists organisations with their digital transformation to foster sustainability.
He cited the company’s survey in partnership with Milieu Insight, in which more than 90% of businesses acknowledge that digital transformation is a crucial sustainability driver. Many organisations also focus on energy efficiency as a fundamental component of their sustainable strategies.
About 4,500 business leaders from nine East Asian countries, including 500 respondents from Thailand, were surveyed on their perspectives around sustainability and the environment.
The survey’s purpose is to identify the intention-action gap in practising green action among companies in Asia and Thailand. The survey also examined the perceived importance of sustainable business practices and the investment or tangible commitment towards achieving them.
In Thailand, 98% of respondents indicated that their organisations have sustainability plans and objectives; however, only 53% have clearly implemented a comprehensive sustainability strategy, resulting in a “green gap” where 45% of them have not been implemented yet.
Mr Mongkhon said Schneider Electric’s portfolio encompasses comprehensive technologies to support clients across various industries, including residential and buildings, data centres, industry, and infrastructure.