AP Thailand, Kasikornbank (KBank) and Advanced Info Service (AIS) are spending a combined 100 million baht on Stanford University research projects seeking to address various issues in Thai society, ranging from rural poverty to business competitiveness.
The Stanford Thailand Research Consortium, launched in 2018, is a five-year project made up of various ongoing research teams led by 22 Stanford professors from nine schools within the university and managed locally out of the Southeast Asia Center in Bangkok.
The projects are based around the themes of raising human values and increasing economic prosperity, social well-being and environmental protection.
The California university will announce its findings from the assorted projects in 2023.
"The projects are designed to contribute to Thai society and the country, also benefiting the companies we collaborate with," said Paul Marca, associate vice-provost at the Stanford Center for Professional Development. "They were inspired by the principles behind Thailand 4.0 to enhance social well-being and environmental protection."
The consortium's partnership with KBank consists of two projects. The Rak Pa Nan Project-Nan Sandbox is meant to develop a model of reforestation that could be used by other provinces. The second consists of researchers finding ways to use technology to expand access to healthcare and avoid long lines and waiting lists.
"We are looking at the root causes of socioeconomic problems for people living in Nan," said Kattiya Indaravijaya, president of KBank. "If we succeed, Nan could be a role model for other provinces and societies around the world. We want to help solve problems in Nan using our funding, but also crowdfunding from around the world."
Working with AP Thailand, Stanford researchers are attempting to understand and assess disruptions to the global property market and find solutions to address these challenges. They are also virtually mapping buildings and looking into issues of sustainability and the social costs of building construction.
"We want to scan the world for innovations and bring those that make sense to Thailand," said Michael Lepech, a professor of engineering working on the AP projects.
At AIS, researchers are conducting ethnographic studies of how AIS employees feel about their work and how they work together in teams. The findings will go towards making AIS a more efficient and cohesive company.
KBank and AIS are jointly funding another project that is attempting to use blockchain technology to lower financial transaction costs and prevent fraud.
"Digital disruption is not a fad, and AIS believes Thais should be ready to adapt new know-how from creative digital technologies to benefit their lives," said Kantima Lerlertyuttitham, chief human resources officer at AIS.