After being severely hit by a surge of COVID-19 cases in the third quarter of 2021, Thailand’s economic activity has subsequently rebounded and is expected to grow by 1.0 percent this year, according to the World Bank’s latest Thailand Economic Monitor “Living with COVID in a Digital World” published today. Going forward, the adoption of digital technologies has the potential to support Thailand’s recovery from COVID-19 and ensure a more competitive economy over the longer-term.
Economic activity is expected to return to its pre-pandemic levels end-2022, with progress on vaccinations and a resumption of tourist arrivals providing support for the recovery. Growth is projected to accelerate to 3.9 percent in 2022 and 4.3 percent in 2023, driven by a recovery in service sector activity. If the current pace of vaccinations of around 750,000 per day is maintained, and in the absence of a further resurgence of COVID-19, consumer confidence and international tourist confidence is expected to strengthen.
The report emphasizes that further vaccine distribution and policies that continue to protect citizens are the key catalysts for the economy to achieve the pre-COVID output level by the end of 2022.
“The economy is expected to gain momentum in the fourth quarter of 2021, fueled by domestic travel and increased local mobility,” said Kiatipong Ariyapruchya, World Bank Senior Economist for Thailand. “The pace of the recovery will depend on the extent of the pick-up in foreign tourists and domestic consumption.”
Thailand’s poverty rate is estimated to have remained stable at 6.4 percent in 2021, with an estimated 160,000 people falling into poverty since the onset of the pandemic in 2020. However, a recent 2021 World Bank household phone survey indicates that the impact of the pandemic has been particularly severe on vulnerable groups. Overall, over half of the 2,000 respondents were affected by job losses, temporary work stoppage, and reduced number of working hours or reduced pay.
“While scarring from the pandemic shock could be long-lasting, especially in terms of job losses and school closures,” said Birgit Hansl, World Bank Country Manager for Thailand. “Digital-led development can help offset these scarring impacts can ensure that growth is inclusive and equitable.”
Since the pandemic started in March 2020, 30 percent of all digital service consumers in Thailand were new and consumption among internet users was 90 percent, the second highest in the region after Singapore. According to the report, the pandemic has accelerated the adoption of digital technologies in Thailand, in large part as a response to extended mobility restrictions and to keep operations running.
The report recommends that while the government has taken several steps to advance the digital agenda, more can be done to develop digital services and spur the digitalization of businesses. This includes promoting competition and incentivizing interoperability in digital markets, raising the availability of digital and complementary skills, and enhancing access to innovation finance.
Coding – what is it and what are the benefits?
Coding has become more popular in recent years with everyone from entrepreneurs, hobbyists, children and professionals. And with many different kits now available, it’s easier than ever to try your hand at coding.
If you’re unsure what coding is or where to begin, read on to discover more and find out the benefits of learning this new skill.
What is coding and what is it used for?
In a nutshell, coding is writing a set of instructions in a language understood by machines to enable a computer to follow to carry out a task. It’s used daily across the world in multiple applications from appliances to traffic systems and the motor industry.
With more of the world relying heavily on digital systems, there is an increased need for those who know how to code. But it’s not just for professionals. Anyone can now try their hand at coding and it’s increasingly popular amongst hobbyists who are creating exciting projects during their spare time.
A good place to start when thinking about coding as a hobby is by using a Raspberry Pi kit. Starter kits are great for beginners and allow you to develop your coding skills with everything you need in one package.
Benefits of learning to code
Whilst some benefits of learning to code such as future career options might be obvious, there are other advantages to this skill:
- You could become smarter – Coding can utilise the logical part of your brain which is useful for other tasks, not just the coding process. It can also be very creative if you use your coding skills to work on different projects.
- It increases your employability – and not just in the computer software industry. Skills learnt from coding are transferrable and the kind of qualities employers across many industries will be looking for.
- It helps you understand technology – By getting to grips with computer languages, you’ll learn how technology works at a base level – knowledge that will filter through to everyday life as well as in your career.
- Enhance problem solving skills – By learning to code you’ll learn how to address problems and, in turn, become skilled at solving them. Tools that will be transferred to other aspects of life.
- Enhances STEM learning for kids – Using coding tools as educational play will develop a child’s skills around science and technology – industries which are only going to increase in the near future.
- Coding is a universal language – so there are endless opportunities to learning this skill.
Whatever knowledge you have of coding, why not give it a go? You could be creating the next big robotics project, having fun playing games with your kids or even developing a new software programme in no time.
C-Suite Toolkit Helps Executives Navigate the Artificial Intelligence Landscape
The World Economic Forum published the “AI C-Suite Toolkit” to support executives in their Artificial Intelligence implementation decision making. The toolkit provides a holistic approach to AI, covering multiple dimensions businesses need to consider when making investments in AI. Emphasis is given on potential risks these technologies create and how to ensure the ethical and responsible use of them.
“The key skill executives need to develop is the ability to understand the art of the possible with AI while identifying the main risks it creates,” said Kay Firth-Butterfield, Head of AI and Machine Learning at the World Economic Forum. Furthermore, Theos Evgeniou, Professor at INSEAD and Co-Founder of Tremau said, “Organizations need to adopt new data and AI risk management practices, processes and tools in order to both comply with upcoming regulations and to ensure customer trust”,
The new toolkit is the result of a collaboration among several AI experts and executives across companies and industries. It also builds on the previous World Economic Forum guide that’s targeted at Boards of Directors.
“AI is like the Internet: it feels optional until it’s too late. We were delighted to contribute Best Practice AI’s practical digital strategy and transformation experience working with executives globally to this world class effort. C-suite leadership is key to deliver data-enabled business model transformation – and senior management learning critical to ensure that this is done ethically and sustainably. The toolkit provides both,” said Simon Greenman, Partner at Best Practice AI and Member of the World Economic Forum’s Global AI Council
The AI C-Suite toolkit raises and discusses key questions that company executives need to consider when making investments in AI. These questions cover aspects around AI and business strategy, the impact of AI on an organization, AI maturity and organizational change, best practices for implementing AI, understanding and managing AI risks, and adoption of ethical and responsible AI practices and processes.
“With our strong expertise in manufacturing consultancy and +100 SIRI maturity assessments, we see that the foundational knowledge of AI in operationalizing the strategy is visible as a common need. Global research on the subject confirm that using AI has benefits like providing cost reduction, inventory minimization, quality increase, profit optimization, etc., and potential risks like strengthening inequalities. Creating a platform for understanding the benefits and mitigating the risks is required, especially at the executive level. With the modularity and extensive understanding of AI, this toolkit will be a reference guide for all leaders,” said Efe Erdem, MEXT Group Director & Head of C4IR Turkey. “We are excited for this toolkit to come to life and serve as a critical guideline for the industry.”
Organizations at various levels of AI maturity can benefit from the steps laid out in the AI C-Suite Toolkit to leverage AI while mitigating possible risks. “As an advisor to C-suite executives of organizations aspiring to become AI and Data-driven, we have observed firsthand how fundamental it is for leaders to understand how to make informed decisions such that their organizations can truly reap the benefits of AI in the coming years. We believe this guide will be instrumental in helping executives identify the right opportunities to solve problems using AI and overcome the challenges and barriers they will face on their journey,” said Nihar Dalmia, Canada Government and Public Services Leader, Omnia AI, Deloitte.
The toolkit states, “a culture of large volume experimentation, data-driven decision making, and ethical AI distinguishes market leaders.” The authors and contributors urge organizations to pilot this toolkit and share their learnings of using it.
“The AI C-Suite Toolkit on Empowering AI leadership is a timely report for C-suite executives as more organizations embrace AI across their enterprise,” said Anand Rao, Global Leader, Artificial Intelligence, PwC, USA. “PwC is delighted to collaborate with the World Economic Forum on this toolkit to provide a practical and operational framework to implement AI in a responsible manner. The holistic and enterprise-wide end-to-end governance will enable C-suite executives to take advantage of the benefits of AI while also addressing the societal and ethical risks.”
The Moscow Metro extends the Early Bird campaign
According to the Moscow Department of Transport, the Early Bird discount program has been extended until March 31. Thanks to this project, passengers can save up to 50% on fare payment for morning trips on Lines 7 and 15 of the Moscow Metro.
The Department noted that the Early Bird campaign helped to redistribute passenger flows and reduce passenger traffic of the Line 7 of the Moscow Metro, the busiest line of the network, during the peak hours. Cars on the Line 7 are now 7% freer in the morning peak hours. In addition, the crowdedness at Kitay-Gorod station has been decreased up to 18%, and Vykhino and Polezhaevskaya – up to 17%.
According to Maksim Liksutov, the Deputy Mayor of Moscow for Transport, the project has proved its effectiveness, having impacted the most popular section of the metro during peak hours. In this regard, it was decided to extend the Early Bird campaign.
«Thanks to the campaign, as well as to the adjustment of fares on Kazansky railway direction for those who travel to the railway station, cars became 7% freer in the mornings on Line 7 – we managed to relieve the load on the most popular section of the metro during rush hours. In this regard, the Mayor of Moscow decided to extend the Early Bird discount program until March 31», – said Maksim Liksutov, the Deputy Mayor of Moscow for Transport.
The project was launched in November 2020. Discounts are valid on weekdays until 07:15 and from 08:45 to 09:15 on the Moscow Metro Lines 7 and 15. About 100 thousand passengers use discounts every day. More than 5.7 thousand Moscow residents changed their daily travel time to off-peak. By the end of 2021, passengers have made more than 25 million discounted trips.
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