Digital drives industries in Thailand
Today technology has become the most important tool to run businesses around the world. Many tech specialists in Thailand predicted that AI,5G, Multi-Cloud and Cybersecurity are set to play a big role in Thailand in 2020. So that’s why major players in many industries have now embarked on a digital drive to stay competitive. Let see the examples below.
Digital technology has reshaped the banking and financial industries in the past few years. You can see that from more than 10 million users now on SCB’s application. This shows that bank’s customer’s behavior has changed dramatically. SCB plans to be even more customer-centric in 2020 and needs to strengthen its core technology by improving customer engagement through AI and Machine Learning.
Another case study is KBank. It has embedded itself to Digital Technology. For instance, KBank created leading partnerships by cooperating with the likes of Grab, Lazada and Central Group to provide online payment solutions through various applications. Also, K Bank plans to roll out online personal loans and nonfinance applications in the mid-2020.
True believes that digital power is the key to unlock the business. They aim to use digital tech to enhance individual’s efficiency, strengthen organizational operation and create a sustainable society. Tech village is one of the most striking strategies from True. It is focused on seven sectors including retail, supply, chain, consumer, agriculture, property, healthcare and manufacturing that will run with IoT, Analytics, AI and Blockchain.
Singha has gradually transformed itself over the past few years after Digital transformations changed its customer’s behaviors. Apart from being the country’s largest beer manufacturer, the group also established SBP Digital Service Co in 2018 to provide IT solutions and services for both within Singha Group and for outside customers.
ThaiBEV has applied technology like AI and Big Data to analyze their customer behaviour. They need to become a leading sustainable drink company by 2020 through its strategy named Vision 2020 which it announced in 2014. Human Resources are also being developed with more work related skills within innovation and digital technology.
Central Group, the country’s leading retail business has adopted technology to better understand its customers. It will collect consumer data in the Cloud to study deep insight into behavior in order to provide tailored services. Moreover, Central Group soon plans to become a full fintech company with a one-stop service for its customers and suppliers.
In 2020, SCG aims to adopt many digital platforms to enhance its competences in their three core businesses. For example, Blockchain for its procurement and payment methods etc.
As the world moves so fast, we will see businesses spend more on technology. Digital adoption can benefit companies more than you ever imagined. If businesses do not apply digital and tech to its competence, it will definitely be at risk! The Future is Now!
Source : Bangkok Post (January 8th, 2020)