Suwat opened the "MONEY EXPO 2026 KORAT," highlighting AI and the green economy as Thailand's way out of the crisis.

Suwat Liptapallop opened the MONEY EXPO 2026 KORAT, highlighting four key economic problems in Thailand. He proposed economic restructuring, supporting the use of AI to assist SMEs, and advancing the green economy as a way for Thailand to overcome the crisis.

August 7, 2569 – Mr. Suwat Liptapanlop, former Deputy Prime Minister Opening remarks for the 20th Money Expo 2026 Korat, held from August 7-9, 2569 at MCC Hall, 3rd floor, The Mall Korat, Nakhon Ratchasima Province, under the theme "AI WEALTH CREATION: Driving Wealth with the Power of AI," stated: MONEY EXPO 2026 KORAT played a crucial role in stimulating the economy, disseminating financial knowledge, and serving as a key channel for bringing credit to entrepreneurs.

The main theme of this year's event is... AI Wealth Creation is about building wealth with the power of AI. Currently, AI has transformed business models and the lifestyles of everyone, leading to the definition of the Fifth Industrial Revolution, or the 5.0 era. This industrial revolution reflects the increasingly shorter transition periods for technology.

The evolution of technology spanned several eras. Era 1.0, lasting 80 years, marked the discovery of steam power, hydropower, and coal, leading to significant innovations such as the textile mill and railways. Era 2.0, spanning 44 years, was the era of electricity, combustion engines, and mass production systems, resulting in the development of automobiles and airplanes. Era 3.0, lasting 40 years, saw the beginning of computer use, automation, and semiconductor development. Era 4.0, lasting 15 years, was the era of the Internet of Things (IoT), Big Data, and Cloud Computing. Era 5.0 (the present) is the era of AI, emphasizing collaboration between humans and machines. It is predicted that in the next 2-3 years, the adoption of Quantum Computers will become crucial hardware, accelerating AI capabilities beyond specialized AI to Artificial General Intelligence (AGI).

"Today, globalization is gone, replaced by geopolitical power polarization and the pairing of economic superpowers. The most valuable resources being contested now are energy and AI."

Mr. Suwat further stated that Thailand is currently too small to control external factors. Therefore, policies must be formulated to cope with various fluctuations without affecting the livelihoods of the people and the domestic economy. However, looking at the domestic economy, several problems emerge, including:

1. The debt crisis. Currently, public debt has soared to 67-68% of GDP, nearing the 70% ceiling, while household debt stands at 86% of GDP, leading to a decline in borrowing capacity and purchasing power.

2. Aging society With over 20% of Thailand's population being elderly, the country's productivity is reduced, and more budget must be allocated to welfare.

3. A budget stuck in a rut. The national budget of 3.78 trillion baht increased by only 0.2% from last year. However, only 20% of the budget is allocated to infrastructure development to drive future GDP growth, hitting the ceiling set by the Fiscal Discipline Act. Over 74% of the budget is spent on recurring expenses such as civil servant salaries, wages, healthcare, and various welfare programs.

4. Monetary and fiscal policies are limited. The current policy interest rate is so low that it's almost impossible to lower it further to stimulate the economy. Lowering rates would widen the interest rate differential between Thailand and other countries, leading to capital outflow, a weaker baht, and impacting the country's financial stability. Furthermore, some room for adjustment is needed to accommodate future uncertainties.

Mr. Suwat said that: Thailand's only solution is to help itself by restructuring its economy, combining Thailand's strengths with AI technology.

1. Moving forward towards a green and sustainable economy, especially in industries where Thailand has strengths, such as agriculture, food, culture, tourism, and the wellness industry.

2. Supporting SMEs: Currently, most loans go to large businesses, with SMEs receiving only 20% of the credit. Therefore, AI must be used to help financial institutions analyze loan applications more accurately, based on actual consumer behavior such as utility bill payments and account liquidity, in order to help SMEs access funding.

3. Leveraging infrastructure opportunities by connecting the Thai-Chinese high-speed rail line from Bangkok to Nong Khai will transform the Northeast into an international hub directly connected to China.

"If we adapt promptly and seriously, Thailand can overcome this crisis. I believe Thailand will survive."