Industry experts urge Thai businesses to adopt AI or face extinction

 

Thai businesses are facing a stark choice: adopt artificial intelligence (AI) or risk obsolescence in a global economy increasingly driven by technological innovations, not cheap labour. 

 

This was the central theme at the “AI Revolution 2025: A New Paradigm of New World Economy” seminar hosted by Krungthep Turakij in Bangkok on Thursday. 

 

Parith Rangsimanond, co-founder of Looloo Technology, emphasised the urgency of AI adoption, drawing parallels to past industrial revolutions. He noted that while AI holds immense potential, Thailand’s adoption rate remains low. 

 

“We often discuss the need to embrace AI, but actual implementation is scarce,” he said. 

 

Parith added that technological advancements, such as the steam engine and electricity, historically disrupted industries by reducing production costs and reshaping business models. 

 

“We are witnessing another industrial revolution. If businesses don’t adapt, they will disappear,” he warned.    

 

Parith Rangsimanond

 

He cited examples of companies like Schneider Electric and Fujitsu, which have achieved significant cost reductions and productivity gains through AI integration.

 

“AI is driving cost reductions of 50% and productivity increases of 20-50%. Thailand, with its reliance on cheap labour, faces a significant challenge,” he said. 

 

Parith urged Thai businesses to move beyond discussions and actively implement AI solutions, emphasising the need to compete on efficiency and productivity. 

 

“We can’t rely on service quality alone anymore. We need to also compete on efficiency and productivity, and AI is the key,” he said. 

 

He also voiced concerns that most Thai firms have not actively adopted AI, warning that once the global economy starts improving, companies that have invested in AI will leave others behind. 

 

Meanwhile, Ratanaphon Wongnapachant, CEO of Siam AI Corporation Ltd, stressed the importance of Thailand becoming an AI "maker", not just a user. 

 

He advocated for the development of a Thai Large Language Model (ThaiLLM) to ensure "AI sovereignty".

 

“We need to develop our own AI models to protect our cultural identity and ensure our data is not manipulated by foreign entities,” Ratanaphon said. 

 

He outlined five components essential for AI sovereignty: AI imperative, AI ecosystem, AI models and data, AI factories and AI-ready workforce.

 

 

Ratanaphon Wongnapachant

 

Reflecting on insights from the GTC 2025 developer conference in San Jose, California, Ratanaphon highlighted the accelerating development of artificial general intelligence (AGI). 

 

“Conversations with startups and developers confirmed that AGI is no longer a futuristic concept, but a very real and rapidly approaching reality,” he said. 

 

He also noted advancements in AI hardware, predicting the emergence of vision-language-action (VLA) models powered by increasingly powerful chips. 

 

"These advancements underscore the necessity for us to actively participate in AI development, not just consume it," he said.

 

Both speakers emphasised the urgency for Thai businesses to embrace AI, not just as a tool, but as a strategic imperative for survival and growth in the 21st century.