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Thailand needs to develop a strategy for artificial intelligence (AI) to stimulate the economy in the long run, says Thailand Development Research Institute (TRDI).
“The digital vortex has turned the world upside down,” Somkiat Tangkitvanich, president of TRDI spoke at a seminar; ‘Reorienting the Thai Economy to Prepare for the Age of Technological Disruptions’.
Most developed countries in East Asia such as China, Japan, South Korea and Taiwan have embraced AI technology through their AI strategic plans and investments.
“Look at them and then look at us, we don’t even have a strategy to cope with the implication of disruptive technology.” Said Mr Somkiat.
His suggestion comes with concern if the country does not move along the AI wave, value-added manufacturers will shift to other countries.” Mr Somkiat cited.
Then, Thai economy would miss the annual 5% growth target under the National 20-year strategic plan. In fact, it would grow only 2.1% or less and 3 million people losing jobs to the development of full automation and AI technology.
If Thailand can make its technological disruption under the Thailand 4.0 scheme by adopting full automation, the country will make its best at 3.1% yearly, but it still causes 1.5 million jobs cut.
To drive AI strategies and leverage Thailand 4.0, he suggests the country improve people skill in jobs so-called 3’C economies to create higher jobs include craft, creative and care to drive growth to 4.3% a year while addressing income disparity.
“if the country goes towards the 3’C idea, Thailand will step out of the middle-income trap to become the developed country in the next two decades.” Said Mr Somkiat.
Those low skill and under education will be those highest risks of losing jobs.
The government should set up a fund to help labours find their strength and encourage life-long learning similar to Singapore and Estonia in securing jobs for their citizens.
“Not even so, the government should promote the life-long learning and reform the education system to ensure their skill improvements especially in the technological field for the younger generation.” He said.
The government officials are also required to upgrade themselves to keep up with the new technology.
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