A recent report noted that among the findings of the Digital Transformation Index survey of 100 executives, it was found that a vast majority of businesses in Thailand are widely and comprehensively embracing technology and digitalisation.
Meanwhile, around 7 per cent of businesses act as digital leaders that utilise digital technology and digital transformation to support their business.
The Thailand country manager of a major multinational computer technology company that develops, sells, repairs, and supports computers and related products and services said that the firm and a multinational semiconductor manufacturing company conducted the Digital Transformation Index survey of 100 executives from mid-to large-sized companies and enterprises.
The survey also categorised business in five steps including digital laggards, digital followers, digital evaluators, digital adopters and digital leaders.
Moreover, the survey reported that 90 per cent of Thailand business leaders believed that digital transformation should be more widespread throughout the organisation. And 61 per cent strongly agree they will be disrupters, rather than being disrupted, within five years, according to the country manager.
The survey categorised 40 per cent of respondents as digital adopters, which are businesses with a mature digital plan, and with investments and innovations in place. Another 25 per cent were digital evaluators. The next 23 per cent were digital followers, which are business with few digital investments and are tentatively starting to plan for the future.
Around 7 per cent of participating businesses were digital leaders that apply digital technology designed for digital transformation in its various forms and have integrated digital approaches into the DNA of their business. The last 5 per cent of business were digital laggards, which lack a digital plan and have only a limited number of initiatives and investments in digital technology.
The country manager for Thailand also said that the top five barriers to digital transformation are data privacy and cybersecurity concerns, immature digital culture including a lack of alignment and collaboration across the country, lack of a coherent digital strategy and vision, lack of the right technologies to work at the speed of business and lack of the right in-house skill sets and expertise.
The emerging technologies are reshaping how we live, work and conduct business, concluded the country manager. This creates boundless opportunities and companies need to keep up to support their business efficiency. However, around 45 per cent worry their business will become obsolete in five years.
The expert stated that the top five digital technologies that businesses are investing in and adopting to support their business in the digital era are cybersecurity, followed by the multi-cloud environment, data centres, artificial intelligence (AI) and Internet of things (IoTs).
The fact that the majority of Thai businesses emabrace digitalisation does not come as a huge surprise.
Over the last month alone the country has seen huge leaps in the adoption of technology in various fields and areas.
For example, as reported earlier, Thailand is setting an example in the food production industry with its. Thanks to its agricultural legacy and strategic use of natural resources, Thailand has long played a key role as a leading net food exporter.
Thailand has consistently transformed its food industry over the past 60 years. Through the transfer of technology, perseverance and government support – from improving credit access for farmers to implementing international standards in production and packaging to ensure the highest level of safety and quality across the food chain.
More recently, it was reported that concerned agencies in the country see bright prospects for electric vehicles (EV) in Thailand and are pursuing the government’s goal of getting 1.2 million units on the road by 2036.
Overall, Thailand is seeing a decline in old technologies and is making a welcome, albeit gradual, shift towards smarter, cleaner technologies to that will power Thai cities, cars, banks, phones, and the more abstract arenas of finance, health, and the environment.