GenAI set to increase Thai GDP by 6% by 2030

Generative artificial intelligence (GenAI) is projected to raise Thailand's GDP by 6% by 2030, with hefty contributions from the trade and manufacturing sectors, according to a joint online survey by SCB X and SCB Economic Intelligence Centre (SCB EIC) of the country.

According to the SCB X-SCB EIC survey of small- and medium-sized enterprises' (SMEs) business readiness for GenAI, conducted from April 18 to 25, 2024, the companies are increasingly familiar with GenAI and have started using AI more widely, especially in the manufacturing and service sectors, for marketing and sales, as well as seeking additional information and new business ideas.

However, the survey noted that Thai SMEs are not fully prepared for the arrival of GenAI, particularly in terms of data readiness and infrastructure.

In another study, the "IDC Data and AI Pulse: Asia-Pacific 2024", commissioned by AI analytics firm SAS, only 23% of organisations in Southeast Asia were described as transformative in their AI adoption.

The survey highlights the challenges faced by early adopters, such as a lack of specialised skilled personnel (41%), managing costs associated with AI development and deployment (30%), and lack of clear evaluation criteria for AI solutions (29%).

Amir Sohrabi, regional vice-president and head of digital transformation for Korea and the ASEAN region at SAS, said that the actual implementation of AI into an enterprise environment requires a strong data foundation and structured process for organisations to reap the benefits of AI in an effective and responsible way.