Thailand 4.0 keys outlined

Value creation, development of IT professionals and software developers and updated laws are necessary components for the development of Thailand 4.0, say IT experts.

“The development of Thailand 4.0 does not just involve the IT industry. It’s related to every business and social stakeholder,” Manoo Ordeedolchest, an IT industry guru, recently said at a seminar entitled: “Thailand 4.0, are we ready?”.

Companies need to improve their digital capacity to innovate their businesses, rather than just embrace it for the sake of creating value for their customers, he said.

New regulations are needed to stimulate technological change to serve a rapidly changing world, said Mr Manoo.

Kumpol Sontanarat, director for the organisational risk management and governance development department at the Securities and Exchange Commission, said financial regulators should provide greater collaboration and support to local fintech startups to help them innovate more products and services.

Chalermpol Tuchinda, director of Software Park Thailand, said fostering software developers and building a digital workforce, including data scientists, is urgently needed to serve rapid technological changes.

Currently, there are 6,000 graduate students in the field of computer science, he said.