US-based tech corporation International Business Machines (NYSE: IBM) is planning to establish a full-fledged innovation center in Thailand by the latter part of 2016 in order to integrate its cognitive computing technology with design thinking, as well as customer experience.
Aside from that, IBM in partnership with Digital Ventures will organize the very first IBM Watson Business Case competition in Thailand later in 2016 for the promotion of fintech or financial technology startups.
According to IBM Thailand country general manager Parnsiree Amatayakul, the mentioned innovation center will create an eco-system for educational institutions and businesses to aid in the delivery of new services and products that will boost the digital economy of the Asian country.
Apart from the innovation center in Thailand, the tech giant has also launched a Watson Center located at Marina Bay in Singapore with the aim of connecting around 5,000 professionals in the cognitive solution space all over the Asia-Pacific region. These professionals include data scientists, analytic experts, software engineers, researchers, and developers.
The Thailand innovation center set to be launched later this year will also leverage the successful cases of the tech corporation in different parts of the globe to improve the potential of local partners, as well as clients.
The Asian country can definitely take a huge leap by developing skills required for the new S-curve industries of Thailand and the Thailand 4.0 roadmap and by using the Watson Application Programming Interface of IBM on its cloud platform.
According to the multinational tech titan, its cognitive computing technology combines 5 fields, including artificial intelligence, big data and analytics, computing infrastructure, human-computer interaction (e.g., machine vision, translation, speech), and knowledge representation, semantics and context.
The majority of the data is massive and unstructured, making it challenging for computers to completely utilize these. For example, at present, only 15% of the organizations take advantage of data analytics. Yet, big data is turning into a very significant factor that can improve the competitiveness of a business. As more and more companies become digitized, those who utilize big data gain a competitive advantage and obtain more insights.
When it comes to the IBM Watson Business Case contest, the qualifying teams will have Sasin of Chulalongkorn University and Software Industry Promotion Agency as coaches.
The country general manager of IBM Thailand stated that the competition will act as a stage for college students and startups in the Asian nation to exhibit their skills and also learn.
Only 10 teams will move on to the final round of the contest and the winner of the competition will be allowed to join the IBM Asean SmartCamp. In addition, the winner will also join the biggest startup conference in the world—the Launch Festival in San Francisco.
Siam Commercial Bank division, Digital Ventures, may also consider investing in the winner of the mentioned competition.