AI Ecosystem: Building Bridges Between Startups, Corporations, and VC Investors

Summarize key points from another session at Techsauce Global Summit 2024 that examined the subject of AI, particularly the importance and approaches to building a strong AI ecosystem in Thailand. This includes the roles of startups and VC investors, with participants sharing their experiences and perspectives.

• Tanwa Arpornthip (Senior Technical Advisor, SCB 10X)
• Thuchakorn (Tee) Vachiramon (Founder & CEO, Sertis) 
• Winn Voravuthikunchai (Founder & CEO, BOTNOI Group)
• Sathapon Patanakuha (CEO, GuardianGPT) 

What constitutes a strong AI ecosystem?

• Applying AI to solve real-world problems: AI is a powerful tool, but it needs to be applied to solve actual problems. The panelists agreed that AI isn't just an advanced technology, but a tool to solve various real-life issues. Therefore, applying AI across diverse industries is crucial.
  
  
• Exploring AI applications in all aspects: A good ecosystem supports the exploration of a wide range of problems, both anticipated and unforeseen. All players in the ecosystem (startups, large corporations, VC investors) have a role to play.
  
  
• Building data trust among stakeholders: Collaboration and trust between different players are essential, especially for data sharing, which is necessary for AI development.
  
  
• Infrastructure for AI development: Reliable data infrastructure and access to efficient computing power are crucial for AI development.

Roles of Each Player that Can Contribute to AI Development

• Startups

• Find problems you are passionate about and understand deeply.
  
  
• Develop AI solutions that meet market needs, especially niche problems that large organizations haven't addressed yet.
  
  
• Don't just follow trends; focus on how AI can solve specific problems in your domain.
  
  
• Build relationships with potential customers and partners early on to understand their needs and avoid building solutions that don't meet them.
  
  
• Learn to sell your product or service. Even those with technical expertise need to develop sales skills.
  

• Large corporations

• Look for innovative solutions outside the organization and collaborate with and support startups.
  
  
• Share problems and challenges with the ecosystem.
  
  
• Provide “data,” the crucial fuel for AI, to startups in a way that builds trust and maintains privacy.
  

• VC investors

• Invest in promising startups that solve real problems, not just follow technology trends.
  
  
• Provide financial resources and mentorship to help startups grow.
  
  
• Bridge the gap between researchers and business applications.

Sales and Communication are Also Crucial for Tech Players

Technical experts need to develop their communication and sales skills to effectively sell AI solutions. They should also focus on the business value, not just the technical details.

Building Networks to Drive the Future of AI in Thailand

• Collaboration is crucial, as building a strong AI ecosystem requires cooperation from all sectors, including government, private businesses, educational institutions, and investors.
  
  
• Create connections between researchers and businesses. Networking between researchers with deep AI knowledge and business people with market understanding will lead to the development of products and services that better meet consumer needs.
  
  
• The importance of data. Data is the heart of AI. Building a reliable platform for data sharing will greatly promote AI development in the country.
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  Promoting a culture of learning and self-development. Encouraging people in all sectors to develop AI skills will help Thailand compete on the global stage.

Recommendations for Entrepreneurs and Startups

• Focus on problem-solving: Before developing a product, clearly understand the problem you want to solve.
  
  
• Build relationships with customers: Establish good relationships with customers to understand their needs and expectations.
  
  
• Learn business skills: In addition to technological skills, entrepreneurs also need to learn business skills such as marketing, sales, and management.
  
  
• Look for opportunities to collaborate with partners: Collaborating with large organizations or other startups can help your business grow faster.

Building an AI ecosystem in Thailand is challenging but also a significant opportunity to propel the country toward becoming a technology leader. Collaboration between the government, private sector, and academia, as well as promoting AI skills development, will be key factors in achieving this goal.

Key takeaways

• Focus on solving real problems, not just chasing the latest technology trends.
  
  
• Collaboration across all sectors is key. Startups, large corporations, and VCs need to work together to build a strong AI ecosystem.
  
  
• Communication is crucial. Both technical and business communication skills are vital for success in AI.
  
  
• Passion and true understanding are key. Having a passion for problem-solving and a deep understanding of the problem are crucial for success in AI.
  
  
• Research and listen to user feedback from the start. The importance of user research and early feedback, as well as building relationships and networks, is crucial for a strong AI ecosystem.