Thai innovation agency pinpoints trends that will shape the future
The National Innovation Agency (NIA) has identified seven trends that will shape the future in Thailand and around the globe, and give an edge to companies and countries that seize the opportunities they are creating.
Pan-Arj Chairatana, the agency’s executive director, said in an exclusive interview on Wednesday that the seven innovation trends were selected because they reflect current developments in the global economy.
The trends have a significant potential to drive the future and play a crucial role in people's lives. They are:
1. New energy technology
2. Regenerating the travel and aviation industries
3. New players from deep tech
4. The rebound of Japan with soft power
5. Sophisticated artificial intelligence for data-driven content creation
6. New food technology
7. Hyper spending on defense tech
The executive directors of NIA then gave a brief explanation of each trend.
Pan-Arj said the emergence of new energy technology reflected a transition from fossil fuel to circular energy, which includes solar power, geothermal energy, bioenergy, electric energy, and green hydrogen energy.
To support this green energy demand, a “high-efficiency backup power supply” such as grid energy storage systems, advanced lithium-ion batteries for battery energy storage systems, and alternative battery technologies is required, he said.
Meanwhile, as each country reopens following the COVID-19 crisis, the travel and tourism industries are gradually recovering, but travel patterns have shifted.
He said entrepreneurs must use innovation to create sustainable tourism while also utilising digital technology to facilitate and build new experiences.
The aviation industry requires innovation to manage workforce shortages and resources in the supply chain, as well as to reduce its environmental impact.
The new players from deep tech can provide innovative technology that solves global challenges.
Since it is a difficult-to-imitate innovation due to complex technology, this creates a comparative advantage in the development of intellectual property, driving business expansion on the global market, he said.
Based on Thailand's strengths, he believes the country's deep tech in agriculture, food, space, virtual technology, sensors, and medical science can draw investors and aid in the country's ability to compete.
Pan-Arj said the return of Japan's soft power demonstrates how it can benefit the country's economy. Although Japanese manufacturing is declining, their MAG culture (manga, anime, and games) continues to win the hearts of people all over the world.
Pan-Arj said Thailand is collaborating with Japan in order to boost the kingdom’s soft power.
"NIA has an exclusive collaboration plan with Japan next year to help accelerate our technology startups and support our artists in order to strengthen our soft power," he said.
Sophisticated artificial intelligence for data-driven content creation is the result of digital technology that has revolutionised the media landscape, changed the way of approaching audiences and opened a space for millions of “content creators” to create a new economy. This change helps improve the communication and entertainment industries.
According to Pan-Arj, Thai startups will benefit greatly from the next generation of food technology. To serve the growing global population and global warming, the world requires a sustainable food system.
For the final innovation trend, NIA's executive director said that the development of defense technology is a priority for many countries due to its benefits to security and the economy.
Microelectronic technology development, supersonic flight systems, robotics and automation, artificial intelligence, cybersecurity, and high-power energy weapons are among the key innovations, he said.
The government should support domestic defense technology and encourage international collaboration so that Thailand can avoid becoming a net weapon importer in the future, he said.
Future goals
Pan-Arj also used this occasion to unveil the innovation agency’s five-year strategic plan (2023-2027), which includes four key strategies: the open innovation system, the new Thai innovative financial system, the data system supporting innovation, and high-performance organisations that are ready for change.
"NIA is changing our role from a system integrator to a focal facilitator to build comparative advantage while incubating startups and local entrepreneurs [ so that they are ready for] the global stage," Pan-Arj said.
By 2023, Thailand's innovation development, particularly in deep technology and travel, will be significantly improved. Thailand is expected to improve as a result of supporting factors such as business sector research and development investment and creative production.
The agency anticipates that its five-year plan will generate about 1 billion baht in revenue for the country.
Through startup and innovative entrepreneur acceleration, its goal is to propel Thailand into the world's top 30 "Innovative Nation" countries by 2030, up from its current position of 43, Pan-Arj said.
