Envisioning the future
published : 1 Aug 2019 at 07:22
It's all about disruption: An ageing population, robotics, a cashless society. The question is: How will our people and the economy cope?
Major advancements in technology, drastic changes in demography, and the increased mobility of goods, servicesand capital have changed people and their behaviour.
To mark the 73rd anniversary of the Bangkok Post, we look ahead to the megatrends that will affect people, business and industry in Thailand.
Disruptive mega-trends such as rapid urbanisation, a cashless society, an ageing population, education mobility and robotics will change the way people live.
Meanwhile, old business strategies will be replaced with innovative methods to cope with major changes.
Physical devices are becoming more and more interconnected with the help of digital technology such as advanced robotics and sensors, which allow for communication without human intervention.
The mega-trend of an ageing population and its effects on the economy and society will pose an economic risk to the country but, at the same time, also bring about various business opportunities.
New technologies will also drive changes in working behaviour. Remote work will become a major trend, replacing conventional office work.
The education sector will also see drastic changes as students will shift to learning anywhere at any time without physically having to attend classes.
People will also rely on technology for a more comfortable way of life and, in doing so, initiate the so-called “lazy economy”. This will pave the way for businesses to sell equipment and services to promote this behaviour and flourish in the process.
Transportation grid development, particularly double-track railways and high-speed trains, will bring about commercial development, promoting urbanisation and helping open up previously inaccessible parts of the country.
The world of information and technology development will also drive people to become more health conscious thanks to easy access to resources. However, their lives will also be more socially isolated.
These are just some of the collective long-term driving forces that will most likely have a significant influence on the future of Thailand.