As the working age population shrinks, artificial intelligence (AI) could be a catalyst to "supercharge" the Thai economy, says Ruangroj Poonpol, group chairman of Kasikorn Business-Technology Group (KBTG), an arm of Kasikornbank.
By fostering a skilled workforce and igniting innovation, AI can help increase the country's productivity by 15% annually, propelling Thailand out of economic stagnation, Mr Ruangroj told the Bangkok Post.
"Building an AI-ready workforce is critical for Thailand's development. It's an urgent task to seize the opportunities presented by AI," he said.
KBTG is collaborating with education technology company DeepLearning.AI, the AI Association of Thailand (AIAT) and the National Science and Technology Development Agency to support AIAT's Super AI Engineer Program, which is developing an AI curriculum to produce 120 AI engineers per year.
The collaboration also plans to train 6,000 Thais per year through the transfer of AI knowledge, with the aim of reaching 30,000 people in five years, said Mr Ruangroj.
KNOWLEDGE ACQUISITION
Moreover, KBTG wants to work with DeepLearning.AI to reskill AI professionals by building a curriculum that covers foundational concepts such as generative AI and other crucial aspects.
"This courseware will be platform-neutral. If we focus on vendor technology or specific tools today, that technology might become outdated in the future as technology rapidly develops," he said.
"AI is not a silver bullet, but it can help with general problem-solving given some constraints. AI users need to acquire and apply a technical foundation rather than relying solely on vendors or specific tools. This concept is often referred to as 'AI for all' -- a platform that provides neutral knowledge accessible to everyone."
KBTG is also working with the Higher Education, Science, Research and Innovation Ministry to develop courseware for universities. The courseware will delve deep into AI, targeting computer science and other relevant faculties, Mr Ruangroj said.
The curriculum will focus on composite AI, encompassing predictive AI, rule-based automation, optimisation and computer vision, he said.
For instance, accounting faculties can learn AI, leverage open-source tools, and train AI models to develop coding solutions for their specific tasks. This would enable them to become "basic builders".
"We aim to cultivate 100,000 basic builders in universities within five years. The initiative will encompass other essential AI roles, such as test engineers for software quality and cybersecurity," said Mr Ruangroj.
For secondary schools, he said KBTG, the AI Fund and the Equitable Education Fund plan to co-build with schools and the Education Ministry, using AI as a teacher's assistant to teach specific subjects.
"We can utilise AI tools to teach financial literacy, math and science, enabling teachers to validate knowledge in the loop," said Mr Ruangroj.
He said teachers should design more engaging classes, enabling students to collaborate with peers, focus on project-based learning, and foster a passion for learning.
Educators need to focus more on the training of soft skills such as problem solving, critical thinking, discerning misinformation, and working collaboratively with AI assistants, said Mr Ruangroj.
In the future, AI will be more accessible as the technology can be run on edge devices, taking intelligence everywhere. This could usher in a "relationship or trust economy", marking the end of the knowledge-based economy, he said.
"At KBTG, we have multiple AI agents. We can utilise multiple AI agents to teach students creatively and instil business logic," said Mr Ruangroj.
In addition, KBTG is collaborating with Stanford University on a "train-the-trainer" programme under the company's "Innovate Teaching Scholar Program" to train teachers at 32 local universities, covering 248 educators.
"Together with the AI Fund, we can help upskill the next generation of teachers, mainly in secondary schools through collaboration with the Education Ministry and the Equitable Education Fund," he said.
Mr Ruangroj said the most important factor is ensuring there are affordable devices available for children to access the content.
FUND FOR AI STARTUPS
He said KBTG is searching for promising AI-based companies and plans to invest in them through its venture capital arm, KXVC, which has US$35 million in deployable capital.
KBTG is interested in AI for finance, self-driving cars, and energy such as smart grids and carbon credits, said Mr Ruangroj.
Singapore has spent seven years developing AI, while Vietnam and Malaysia are also exploring the technology, he said.
GAME CHANGER
Mr Ruangroj said AI could be a game changer for Thailand, but a strategic plan and talent development should be the first priority.
He noted a significant gap, as Thailand boasts more than 100,000 high-skilled workers, yet the country faces a broader literacy challenge.
"We need more workers who dare to go overseas and come back to work in the country," said Mr Ruangroj.
Despite concerns over potential errors or mistakes in the field of AI, organisational leaders need to learn about AI and try its tools to understand their limitations, he said.
UNLOCKING GDP GROWTH
"With Thailand's GDP growth rate at 2% and its demographics dubbed an 'aged society', we need to increase our productivity by 15% annually for at least five years in order to get GDP growth up to 5%," said Mr Ruangroj.
Moreover, he said Thailand needs to foster new S-curve growth, such as through chip plants, as the country has a manufacturing base and data centre capability.
"We need to develop more semiconductor engineers and green energy that supports factories," said Mr Ruangroj.