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AI to Upgrade Thai Economy, Aid Merchants with Loans via Better Accounting

AI to Upgrade Thai Economy, Aid Merchants with Loans via Better Accounting

Prachachat•Economy•23d ago

Reader Briefing

Thailand's Deputy Prime Minister and Finance Minister, Dr. Ekkanit Nitithanprapas, advocates for the strategic adoption of Artificial Intelligence (AI) to modernize the nation's economy and empower small businesses.

  • •Deputy Prime Minister and Finance Minister Dr. Ekkanit Nitithanprapas emphasized the crucial role of AI in revitalizing Thailand's economy at the 26th Money Expo Bangkok.
  • •The government is developing initiatives to integrate AI into daily life, enabling small merchants to utilize sales data for loan applications, thereby avoiding informal lending.
  • •Thailand aims to become a 'creator' within the global AI supply chain, attracting over half a trillion baht in digital and AI investments to foster technology transfer and local business growth.

Overview

  • •Dr. Ekkanit Nitithanprapas stated that Thailand must 'upgrade the economic engine' by adopting Artificial Intelligence (AI) to foster new growth, as it is a necessity rather than an option.
  • •The global economic landscape presents challenges like energy crises and rising costs, necessitating the 'upgrade' of Thailand's 'old engine' economy with new technologies like AI to meet the demands of a rapidly changing world.
  • •The IMF estimates AI can significantly boost economic productivity, potentially by nearly 1% annually for Thailand, differentiating between 'traditional growth' and 'a leap in the entire economic system's potential'.
  • •The Ministry of Finance is designing ways to integrate AI into real life, such as assisting community merchants with accounting and sales data analysis for loan applications, to prevent reliance on informal lenders.
  • •Dr. Ekkanit Nitithanprapas views AI not just as technology, but as 'access to opportunities,' democratizing financial knowledge, investment tools, and capital access previously concentrated among a few.
  • •The government sees three key dimensions for AI in the Thai economy: Thailand as a 'creator' in the global AI chain, attracting over half a trillion baht in digital and AI investments, and shifting the financial system from collateral-dependent to data-driven for small businesses.
  • •Dr. Ekkanit Nitithanprapas highlighted that the challenge for Thailand is to teach its citizens not just *how* to use AI, but to use it 'with full awareness,' understanding when to trust, question, and use their own judgment, emphasizing the importance of AI and Financial Literacy.
  • •The 26th Money Expo Bangkok 2026 is scheduled to take place from May 7-10, 2026, at Challenger Hall 1-2, Impact Muang Thong Thani, featuring over 120 financial institutions and AI-themed investment seminars.

Full article content is available on the original source.

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Source: Prachachat (Original)

Key Quotes

Dr. Ekkanit Nitithanprapas
"“If we compare the economy to ‘a car,’ today we are not just facing a more difficult road from the energy crisis, high prices, and livelihood issues like the rest of the world, but we also have our own challenge: ‘the old engine,’ which may not meet the needs of a rapidly changing world. This is why ‘upgrading Thailand’s economic engine’ is not an option, but a necessity, and in this era, AI is one of the most important tools.”"
“ถ้าเปรียบเศรษฐกิจเป็น “รถยนต์คันหนึ่ง” วันนี้เราไม่ได้กาลังเจอแค่ถนนที่ยากขึ้นจากวิกฤตพลังงาน ของแพงและปัญหาปากท้องเหมือนทั้งโลก แต่เรายังมีโจทย์ของเราเอง คือ “เครื่องยนต์เดิม” ที่อาจไม่ตอบโจทย์โลก ที่เปลี่ยนเร็วขึ้นทุกวัน และนี่คือเหตุผลที่การ “อัพเกรดเครื่องยนต์เศรษฐกิจ” ของประเทศไทย ไม่ใช่ทางเลือก แต่เป็นความจำเป็น และในยุคนี้ AI คือหนึ่งในเครื่องมือที่สำคัญที่สุด”
Dr. Ekkanit Nitithanprapas
"“The real question is not how we avoid AI, but how we use AI to 'create new opportunities for Thais.' Importantly, having ‘a new engine’ alone doesn't mean we will reach our goal. We need ‘a driver’ proficient with this new system, and it must be a car that takes everyone along.”"
“คำถามที่แท้จริงจึงไม่ใช่ว่าเราจะหลีกเลี่ยง AI ได้อย่างไร แต่คือเราจะใช้ AI เพื่อ “สร้างโอกาสใหม่ให้กับคนไทย” ได้อย่างไร และที่สำคัญ การมี “เครื่องยนต์ใหม่” เพียงอย่างเดียว ไม่ได้แปลว่าเราจะไปถึงเป้าหมายได้ เราต้องมี “คนขับ” ที่ใช้ระบบใหม่นี้เป็น และต้องเป็นรถที่พาทุกคนไปด้วยกันได้”
Dr. Ekkanit Nitithanprapas
"“Therefore, Thailand’s challenge is not just making Thais able to use AI, but 'to use it with full awareness,' knowing when to trust, when to question, and when to use their own judgment. This is why AI Literacy and Financial Literacy are crucial foundations we must urgently build for Thais of all ages.”"
“ดังนั้น โจทย์ของประเทศไทย ไม่ใช่แค่ทำให้คนไทยใช้ AI เป็น แต่ต้อง “ใช้เป็นอย่างรู้เท่าทัน รู้ว่าเมื่อไหร่ควรเชื่อ เมื่อไหร่ควรตั้งคำถาม และเมื่อไหร่ควรใช้วิจารณญาณของตนเอง นี่คือเหตุผลที่ AI Literacy และ Financial Literacy จึงเป็นรากฐานสำคัญที่เราต้องเร่งสร้างให้กับคนไทยทุกวัย”

Key Entities

Person

Ekkanit(เอกนิติ)
Deputy Prime Minister and Minister of Finance of Thailand who advocates for AI integration in the economy.
Dr. Ekkanit Nitithanprapas(ดร.เอกนิติ นิติทัณฑ์ประภาศ)
Deputy Prime Minister and Minister of Finance of Thailand, speaking at the Money Expo.

Organization

Ministry of Finance(กระทรวงการคลัง)ℹ️
Government body responsible for developing initiatives to integrate AI into public life.
World Economic Forumℹ️
Global platform mentioned by Dr. Ekkanit Nitithanprapas as a venue where AI discussions are prominent.
IMFℹ️
International Monetary Fund, which provided an assessment on AI's potential productivity gains.
World Bankℹ️
A global financial institution mentioned by Dr. Ekkanit Nitithanprapas in the context of international economic discussions.

Policy

AI Wealth Creation
A concept promoted by Dr. Ekkanit Nitithanprapas, focusing on broader access to wealth through AI.

Service

Ari Score
A tool that helps build financial identity from various data, enabling access to capital for smaller businesses.

System

MOF Data Lake
A data system being developed by the Ministry of Finance to connect citizen and business data for policy design.