Thailand enters an era of AI ‘Remake’

Finance guru weighs in on future of industry, writes Nattaya Chetchotiros

Thailand is entering one of the most consequential periods in its modern history. Rapid advances in artificial intelligence (AI), shifting geopolitical dynamics, climate change, and an ageing population are converging simultaneously, creating both unprecedented risks and opportunities. Vice Minister of Finance Santitarn Sathirathai has expressed his views on how the country should adapt to these challenges.

AI is not the only trend reshaping the world, but part of a broader global transition that is changing how economies, societies and nations function, he says.

AI is poised to alter the nature of work across various industries. While some jobs may disappear, many new roles will emerge. This is why workers need to be reskilled and upskilled, otherwise the country will face mass unemployment.

At the same time, Thailand faces a rapidly ageing society. Unlike many developed economies that grew wealthy before ageing, Thailand is ageing even as it remains classified as an emerging market. The country’s working-age population has already begun to shrink, creating long-term economic challenges.

Yet Mr Santitarn sees a potential advantage hidden within this demographic shift. Thailand’s strengths in healthcare, medical services and wellness position it well to benefit from what he describes as the “longevity economy.” As people around the world place increasing importance on health, demand for wellness-related products and services is expected to surge.

Climate change adds another layer of complexity, with Thailand’s agricultural strengths being increasingly threatened by climate phenomena like El Niño, droughts and floods, said the vice minister.

“These four trends, including AI, demographic shifts, longevity economy and climate change, are happening at the same time,” Mr Santitarn explained. “They reinforce and interact with one another and create both challenges and opportunities for Thailand.”

Mr Santitarn acknowledged that world superpowers are racing to become leaders in the global AI industry, and the faster these nations develop their AI innovations, the further Thailand will fall behind.

When asked how this situation is affecting Thailand, he noted that although the country has benefited from massive investments in data centres and semiconductor and memory chip production across many Asia-Pacific countries, including Thailand itself, the critical challenge lies in preparing Thai workers for AI-driven changes across several industries.

“Those who know how to use AI will have an enormous advantage,” said Mr Santitarn. “It will be like having hundreds of assistants, colleagues and advisers. Those who cannot use AI may find themselves at a significant disadvantage and risk losing their jobs to those who can.”

Thailand must help these people by reskilling and upkilling them, he said, adding that foreign AI data centres investing in Thailand should also contribute to developing local talent through partnerships with schools and universities.

Despite growing international concerns about AI’s risks, Mr Santitarn believes efforts to slow global AI development are unlikely to succeed because the competition among major powers is simply too intense. For Thailand, the practical response is not resistance but adaptation.

He added that the government must lead by investing in future-oriented infrastructure, particularly in digital, green, and longevity economies, while creating clear, up-to-date policies that attract private-sector investment.

When asked how Thailand should adapt as a country with low-cost labour, Mr Santitarn said the country should build on its strengths in healthcare, wellness, food innovation, precision manufacturing, electronics and renewable energy.

He also noted that Thailand’s geopolitical neutrality can attract investors seeking safe locations, adding that a strong commitment to good governance will be essential to attracting both global talent and high-quality investment.

Regarding how Thailand can provide a hopeful future for younger generations, Mr Santitarn said that he has met many young students who have expressed pessimism about the future. He believes policymakers must provide a compelling national vision that invites the nation’s youth to participate in building the country’s future.

Asked to describe Thailand’s current situation in a single word, Mr Santitarn chose “remake,” which is a common term in the film industry. He explained that, unlike a reset, which starts from zero, or a remaster, which merely updates the film’s video quality, a remake preserves what is valuable while adapting it for a new era. For Thailand, that means modernising and embracing innovation while preserving the qualities that have long defined the nation.