Close this search box.

We are creating some awesome events for you. Kindly bear with us.

Empowering Thailand’s financial sector with AI

Image Credits: ETDA, Press Release

The Electronic Transactions Development Agency (ETDA), also called the Ministry of Digital Economy and Society, together with the Thailand branch of a multinational technology company organized a workshop on AI for Financial Services on 29 January 2020.

The aim of the workshop was to equip financial business executives with the knowledge and understanding of how to apply Artificial Intelligence (AI) in their operations.

Applied in the proactive work, the technology has the potential to enhance the development of a modern financial service strategy plans and keep pace with the world and the rapidly changing technology (often called, Disruptive Technology).

The aim is to promote an organizational culture that is open to new innovations and that pushes all sectors to advance into the era of AI-based keeping in mind ethics and responsibility.

The event was led by the Director of the Digital Development Agency for Business at the ETDA. The opening remarks were given by the firm’s International and National AI expert. There was also a lecture on AI in Financial Services.

The Deputy Managing Director Business sector, government and education sectors, at the firm, gave a lecture entitled “Introduction to Microsoft AI Business School”.

In addition to the training for the those from the financial sector, ETDA and the firm will also provide lectures for executives in various business sectors throughout the first half of 2020 on topics such as AI and Sustainability, AI Business.

Embracing AI in finance

Various players in Thailand’s financial sector are steadily embracing AI in the operations, thereby, reaping the benefits that the technology brings (such as increased efficiency and greater accuracy).

In November 2019, the Thailand branch of United Overseas Bank (UOB) announced that it is leveraging artificial intelligence to launch what it claims to be an industry-first financial planning solution.

The bank launched Mighty Insights to better track customers’ savings and expenses in order to improve financial planning.

The new solution will leverage data analytics, machine learning and pattern recognition algorithms to determine the best course of action, accounting for the various life stages, needs and lifestyle priorities of the user.

Users no longer have to worry about duplicate charges, whether refunds have been made, paying for a subscription that has been forgotten or why accounts have less money than usual.

Instead of having to call the bank or to go down to the branch, the bank’s customers can rely on Mighty Insights’ daily prompts to track their finances with greater peace of mind and to have better control in the way in which they spend and save.

Thailand committed to digital transformation

Thailand’s plan to transform into a digital hub is outlined in its Thailand 4.0 policy an earlier OpenGov Aisa report noted.

It is an effort that the government is making to not only gain technological capabilities to support residents but also involves a series of programs to help companies in the country accelerate their journey to digital.

As a result, the country has begun to gain attention from commercial giants across the world who are looking for big-ticket investments opportunities.

Efforts to increase expenditure on R&D are expected to expand the country’s economic growth rate in the next 5 years, as well as significantly help increase per capita income.

Thailand’s strategic location is expected to help the country in its aspirations to get more traction as a digital hub, especially when competing with peers in the region, including Malaysia, Hong Kong, and Singapore.


Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.


CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.


Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit


SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.


HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 


IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.