Seminar looks at how AI can help SMEs

In his presentation, Permanent Secretary of the Commerce Ministry Keerati Rushchano noted that although technology including AI, robotics, and chatbots has advanced significantly, he still believes that there are many aspects where technology cannot surpass humans because humans possess delicate intelligence. However, utilising artificial intelligence to assist in business operations has greatly improved convenience, especially for SME entrepreneurs.

In 2022, SMEs generated revenue of more than 6 trillion baht for Thailand, especially in the service and tourism sectors, as well as exports valued at 1 trillion baht, accounting for 10% of the total exports, Keerati said.

Furthermore, SMEs are considered the foundation of the country in stimulating the economy domestically. The government has plans to promote medium and small state enterprises under the 5th version of the Small and Medium Enterprises Promotion Plan for 2017-2027, Keerati added.

Currently, Thailand is facing economic challenges from the global economy, such as the geopolitical issue of the Russia-Ukraine war, which affects raw material prices, energy prices, and transportation. Moreover, concerns about escalating trade wars also persist. Thailand is continuously preparing to cope with these impacts.

While the global economy is experiencing a downturn in several countries including the US and the EU due to inflation and reduced purchasing power, environmental changes and food security impacts are also causing trade barriers. The government sector is working closely with the private sector to overcome these obstacles.

The Ministry of Commerce has played a role in supporting small and medium-sized enterprises (SMEs) through, amongst others, services related to business registration and the introduction of digital systems.

From January to May of this year, there were 3,470 registered SMEs, mostly in the tourism sector, catering to foreign tourists visiting Thailand. Efforts are being made to promote and develop businesses, including increasing access to technology and enhancing business capabilities, in order to strengthen the competitiveness of Thai businesses. Additionally, a business governance framework is being established to ensure transparency and legal compliance, which is vital for building trust in SMEs, Keerati stated.

The Commerce Ministry, meanwhile, is promoting international trade through the '3P's' approach:

People: Developing entrepreneurs through various training programmes provided by the National Entrepreneurship Development Institute (NEA), with a target of over 60,000 participants this year.

Product: Enhancing products and services by promoting value addition through branding, innovation, and design.

Place: Developing domestic and international marketing channels through trade shows, offline and online marketing promotions, and service accessibility through applications and hotlines.

These efforts aim to address global product trends and meet the demands of the market, Keerati said.

In this regard, Thai SMEs need to develop products that meet market demands without deviating too far from their own interests. Repeat orders will be greatly limited if they develop products based solely on their own preferences. In this regard, the Ministry has units that help develop SMEs to create products that meet market demands, especially in food-related businesses, according to Keerati.

“Thailand must continue to invest in the food industry for which the country has supporting resources to be competitive. However, it needs to diversify its food offerings, whether through plant-based foods, plant proteins, insect proteins, or food innovations to meet the demand for healthy foods," Keerati added.