Business cloud software giant Infor targets Thailand’s potential

TUESDAY, JUNE 25, 2024

Infor, a global leader in business cloud software, has identified Thailand’s manufacturing sector as a key potential market in Southeast Asia as the country continues to digitise under the Thailand 4.0 policy, its CEO Kevin Samuelson told The Nation in a virtual interview.

His remarks came during a field trip to Bangkok on June 20, where he addressed the country’s digital transformation journey, the technology landscape, and the role and trend of artificial intelligence (AI), particularly the emergence of generative AI (GenAI).

He also discussed the strategy for using AI and cloud technology to drive innovation and efficiency in Thailand’s business landscape.

Samuelson recognised the gradual nature of AI’s impact, anticipating a significant increase in productivity, paving the way for a future in which work is focused on more rewarding and challenging tasks.

Citing the Thailand’s promising AI growth, with more manufacturers considering embarking on their digital transformation journey, he emphasised the importance of identifying specific industry use cases to generate value from AI, citing an example of how Infor’s AI solutions helped a forklift company improve efficiency, lower costs and boost sales.

“Deep industry expertise and understanding of technology are crucial to leveraging AI effectively,” he stated.

He then gave specific examples of how Thai businesses are currently incorporating AI into their business applications, such as automating invoice processing to improve efficiency and reduce errors.

Kevin Samuelson

The purpose of using AI is to create a smooth and effortless experience for all users while supporting employees to pay more attention on how to improve their efficiency.

“AI will reduce repetitive tasks, allowing employees to focus on more strategic and value-added work. This shift will necessitate learning new skills to adapt to changing capabilities, ultimately leading to more rewarding work experiences,” he explained.

According to IDC’s Worldwide AI and Generative AI Spending Guide report, which was released in April, the Asia-Pacific region is experiencing an unprecedented surge in GenAI adoption, including software, services, and hardware for AI-centric systems, with spending expected to reach US$26 billion by 2027, representing a compound annual growth rate of 95.4% for the period 2022-2027.

This surge highlights the region’s critical role in driving the next wave of AI innovation and technological advancement. While China, Japan, and India dominate the GenAI market, the Southeast Asia region, including Thailand, has demonstrated rapid growth.

According to a Kearney survey conducted earlier this year, more than 70% of respondents believe AI is critical to Southeast Asia’s future, and AI has the potential to have a significant overall impact: a 10-18% GDP increase across Southeast Asia by 2030, equivalent to nearly $1 trillion.

Meanwhile, according to Depa’s Thailand Digital Technology Foresight 2035, Thailand’s AI market size is estimated to be around 114 billion baht by 2030. The report estimated that there will be 300 use cases of AI by 2030 with major contributions in manufacturing, insurance, automotive and healthcare. Artificial Intelligence (AI) is penetrating into all aspects of a company’s business operations.

Business cloud software giant Infor targets Thailand’s potential

Discussing technological trends in the enterprise resource planning (ERP) industry, Samuelson underlined the importance of moving to the cloud, citing benefits in flexibility, data security, and efficiency. He also noted a growing trend of process and shop floor automation, which leads to increased efficiency and better results.

In response to concerns about data security and privacy in AI projects, he pointed out that the company prioritises these aspects and works closely with AWS to ensure the highest level of security.

“Infor’s internal processes and platforms are intended to safeguard customer information,” he stressed.

In terms of Infor’s growth strategy in Thailand, he disclosed that the company’s focus on specific industries enables it to provide tailored solutions to businesses with smaller budgets. He noted that Infor’s industry-specific AI solutions are unique and valuable for businesses that lack in-house data scientists.

As Thailand embraces digital transformation, Infor’s targeted approach and AI-driven solutions position it to play an important role in shaping the country’s manufacturing and distribution sectors, he said.