Without a concerted push to get and grow tech talents, the drive will face immense difficulties.
Next year will see Thailand pushing its Thailand 4.0 agenda.
The country hopes to build on its strong business fundamentals and a government-led business-friendly agenda to move up the economic value chain.
According to Michael Page Thailand Employment Outlook 2020, talent shortage may stand in its way.
Thailand realizes its challenges. According to the report, the country is already rolling out new initiatives to transform its industry-driven economy into a technology-centric one.
"Thailand's business leaders have acknowledged the importance of embracing emerging technologies to maximize opportunities in the new digital transformation economy. Local companies have also started to adopt more digitally-focused solutions. Technology will lead the value add across businesses and encompass all areas of growth to drive the economy forward," said Kristoffer Paludan, regional director of Michael Page Thailand.
But this requires the ability to adapt emerging technologies quickly. It is also the area where more work needs to be done.
According to the report, more work needs to be done to encourage and attract talents for implementing artificial intelligence (AI), big data, internet of things (IoT), cybersecurity, and IT infrastructure. These technologies will shape the development of the country's transport, distribution, FMCG, business services, and real estate.
This demand for skills is already being felt in the e-commerce industry. According to the report, an increasing number of professionals are tasked with implementing new software technologies across mobile and skills in mobile development will be in demand. Qualified candidates are expected to see a 25-30% average salary increase when switching jobs within similar industries.
"Businesses outside of technology are also implementing automation and digitizing processes in order to streamline operations. This is increasingly evident in the transport and distribution sector due to Thailand's e-commerce boom as well as moves from FMCG companies to adopt omnichannel strategies when acquiring new consumers," said Paludan.