NEA to use AI and Big Data to boost exports
The New Economy Academy (NEA), an agency under the Commerce Ministry’s Department of International Trade Promotion (DITP), says it will use AI and Big Data to promote SMEs and analyse the demand of foreign consumers based on their behaviours, trends and cultures.
NEA director Nanthaphong Jiralertphong said this week that NEA and DITP have together pioneered the use of AI and Big Data technologies to analyse markets in various countries including China, Vietnam, Singapore, Laos and Cambodia. “The project revealed that Thai entrepreneurs are in need of in-depth data on foreign markets in order to develop products that suit the needs of consumers in those countries,” he added.
“In 2020, NEA will start developing our own platform of AI and Big Data Analytics to analyse consumers’ behaviours and market trends in specific areas with real-time updates, focusing mainly on the CLMV (Cambodia, Laos, Myanmar, Vietnam) and China,” he said. “The product groups that will most benefit from this programme are processed agricultural produce, health and beauty, gifts, and other consumer products.”
Nanthaphong further explained that the data analytics module will be combined with the design thinking process to analyze consumers’ behaviors, market trends and cultural preferences and cross reference these with products’ characteristics. “NEA will then use this information to formulate strategic plans for each product and market, enabling Thai entrepreneurs to plan their manufacturing and exports accordingly.”
Further information can be found at https://nea.ditp.go.th and www.ditp.go.th or by calling the hotline at 1169.