PRESS RELEASE
Both companies exemplify how Big Data Analytics and Artificial Intelligence are used to impact business operations as part of their overall digital transformation journey
Bangkok, Thailand, 24th July 2018 – Ananda Development and Krungsri Consumer beat out over 20 other nominees to clinch the Enterprise Innovation Awards, given out at the 24th edition of Asia IoT Business Platform (AIBP), held in Bangkok on 24th & 25th July at the InterContinental Bangkok, Thailand. The event is being held in Thailand’s capital for the 4th consecutive year and focused on the theme of Digitization of Local Enterprises. The awards are given out to local enterprises which have demonstrated an ability to use IoT Technology to enhance business operations.
Ananda Development, a publicly listed property developer, highlighted the utilization of big data and artificial intelligence for construction management, inspection and scheduling, leading to a reduction in construction time and cost. A key focus of their digital transformation project is to create a paradigm shift internally among their staff, which acts as a natural defence against future workforce disruption by technology.
Krungsri Consumer, part of Bank of Ayudhya, developed a propriety system utilizing a combination of geo-location technology and big data analytics, which enabled them to deliver targeted and contextualized marketing messages to their customers. This is the second consecutive year Krungsri Consumer has won the Enterprise Innovation Award.
Endorsed by Thailand’s Ministry of Digital Economy and Society, co-hosted by the Digital Economy Promotion Agency (depa) and supported by Microsoft Thailand, AIBP focuses on Thailand 4.0 initiatives and shed light on the challenges that local enterprises and public service organizations face in adopting and deploying IoT projects, as well as the latest developments in Thailand’s IoT and information & communications technology industry.
A recently concluded survey by AIBP found that IoT projects are being implemented across industries in Thailand, with varying levels of success. Companies from the Industrials segment have reaped the most benefits, with 10.7% of them having benefitted from IoT implementation projects. This compares to 8.2% within Financial Services, 6.8% within Retail, Real Estate & Hospitability and 5.9% within Distribution, Transportation, Logistics & Freight.
IoT projects require coordination of several segments – from installing sensors, selecting connectivity options and using software to aggregate/analyse the data. 51% of enterprises surveyed reported that a dedicated team has been identified to implement digital transformation. 66.5% opine that the use data analytics/business intelligence software will drive the largest benefit to their organization.
At the other end of the spectrum, 9.2% of local enterprises are still unfamiliar with the concept of Enterprise IoT technology.
While large scale projects implemented by listed companies usually take the spotlight, depa, the co-host of AIBP, has made clear its intentions to provide assistance to local small and medium enterprises (SMEs) to enable them to compete more effectively both locally, and in the region.
“One of our establishment missions is to promote and support local enterprises in their industries and to help them develop new innovations. Working with Asia IOT Business Platform will help these local enterprises obtain more opportunities to open new markets at the regional level. The collaboration will serve and enhance our primary mission. Currently, we have a project that aims at helping SMEs’ digitisation. So, it is a good opportunity to use this channel for digital knowledge exchanges and also develop new business opportunities.” said Dr. Nuttapon Nimmanphatcharin, President/CEO of depa.
“There’s been strong interest from local enterprises in Thailand to implement digitisation and IoT projects. This demand creates an ecosystem of innovation locally as it encourages investments by technology startups and established solution providers in Thailand. This is further enhanced by initiatives led by depa to attract solution providers such as the IoT Institute being built within the Eastern Economic Corridor (EEC).” said Irza Suprapto, CEO of Asia IoT Business Platform.
“IoT is a collaborative, multi-disciplinary effort that spans cloud development, machine learning, AI, security and privacy, and presents an immense opportunity to not only create operational efficiencies but to enable increasingly sophisticated enterprises. Digital transformation could add as much as $387 billion to Asia Pacific’s economy by 2021, and business leaders across the region – including those in Thailand – see IOT as one of the top technological priorities in achieving their digital transformation ambitions.” said Somsak Mukdavannakorn, Small and Midmarket Solutions & Partners Lead at Microsoft (Thailand).
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About Asia IoT Business Platform
With a focus on local telecommunication companies and verticals, the Asia IoT Business Platform (AIBP) is an educational platform crafted by the industry, for the industry, with the aim of addressing key issues facing the adoption of IoT technologies in the ASEAN region. The program drives enterprises to understand and learn about the adoption of IoT technologies for their business. Since its inception in 2013, the Asia IoT Business Platform has secured strong support from local governments, enterprises and telecommunication companies. The 24th edition of Asia IoT Business Platform was held on 24th & 25th July 2018 at the InterContinental Bangkok and the conference will focus on highlighting successes and address challenges in implementing IoT projects locally. AIBP’s Enterprise Innovation Award is given to the top two enterprises in Thailand, Indonesia, Malaysia, Philippines, Myanmar and Vietnam annually which have demonstrated an ability to implement IoT projects which enhance business operations.
About Industry Platform Pte Ltd
Industry Platform Pte. Ltd. is a Singapore incorporated firm focused on the global Information & Communications Technology sector. We are Southeast Asia’s leading organizer of Machine-to-Machine (M2M) and Internet of Things (IoT) conferences and exhibitions. We work with local and global businesses, as well as public sector bodies and associations which are looking to expand their reach in Asian markets. We provide the best platforms for industry professionals to network and shape developments.
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Caption: Ananda Development and Krungsri Consumer beat out over 20 other nominees to clinch the Enterprise Innovation Awards, given out at the 24th edition of Asia IoT Business Platform (AIBP) in Bangkok on 24th July at the InterContinental Bangkok. This is the 4th consecutive year the event is being held and focuses on the theme of Digitization of Local Enterprises. The awards are given out to local enterprises which have demonstrated an ability to use IoT Technology to enhance business operations.
Photo from left to right: Anshera Chumchaivatebb, Senior Vice President, CRM and Strategic Pricing, Krungsri Consumer, Tipyawan Triyawathanyou, Head of Data Science & Big Data Infrastructure, Krungsri Consumer, Dr. Sanpachai Huvanandana, President, CAT Telecom, Dr. Yong Chern Chet, Chief Innovation Officer, Ananda Development
