What I read
In “The trick that turned seven bags of cocoa into 25”, Jessica Bown (2018) says that digital technology such as information system technology and blockchain technology can help famers improve a new way of doing agricultural business in the current digital economy, as these two innovation facilitate farmers in be equipped knowledge on a better farming and be able to gain higher profits on selling agricultural products. According to the news article, Olam Farmer Information System (OFIS) App, which developed by Olam, has enabled a cocoa farmer from Ghana to increase his productivity by collecting farm data and recommending how to increase harvest. Another example is using blockchain technology for selling agricultural products and lending money from banks.
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My response
I think this is good news that some technology firms have invented creative tools that enable farmers to compete with other giant competitors such as multinational companies and supermarkets in the era of digital economy. Since new digital technology and FinTech was introduced in late 2016, I have heard some bad news about how disruptive of the digital technology are and potential risks that would be causes by them. Majority of my colleagues in banking industry believe that transformation of digital technology would really affect human’s employability. In the other words, Robotic technology and Artificial Intelligence (AI) are going to replace human in job market. It is true about that change, as we work in banking industry; we are facing disruptive change in the way we work. In financial service industry, AI has been developed and used to replace human in analytical job positions such financial analyst or credit analyst. The reason is that AI never tries of calculating lager data while human usually does. Another reason is that AI has no emotion when it comes to evaluate loan approval while human usually has. What do to with those credit analysts? Banks will re-train them to be a sale representation instead.
For banking industry in Thailand, the government has been working to transform its financial system to be cashless society. I have been involved in nationwide e-payments project from Bank of Thailand. My bank has successful in launching Prompay and QR Payment. By the way, I was wondering about what if all Thai people be ready for cashless society. I think it would be great if the nationwide e-payment project would facilitate Thai farmers in doing their business too.
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My question
To what extent famers in Thailand would be competitive in digital economy?
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Reference
- Bown, J. (2018, July 3). The trick that turned seven bags of cocoa into 25 Retrieved from https://bbc.com/news/business-44642175
I think cashless is a trend in the world. Now, I didn't take money in my country. I can use Wechat to buy most of things even street food or take a taxi. It's very convenient but also had some trouble. For example, I was used to use smartphone to pay bills and didn't bring my wallet. Sometimes, my phone was out of battery, I couldn't do anything, because I couldn't use Wechat or Alipay. If I lost my way and I couldn't use my phone, I can't go back, because I didn't have money to take the transportation. The smartphone will become very important in the cashless society.
ReplyDeleteIn my industry, people also said that the AI will do all of design in the future and the Alibaba company actually is using AI to make advert banners on their website. But I think art is different from technology.
Yes, Na. FinTech in China is very strong and more advance than in Thailand. For Thailand, we anticipate that it would take 4 to 5 year to become cashless society. And I am sad after knowing that AI can be used in advertising industry too. I am wondering why those employers are using AI to jobs that human can do or we as an employee aren’t effective enough. In the past, human invented machines to work in jobs that were harmful to human. But I think jobs such as analyzing data or creating advert banners should be done by human too. These are jobs for entry-level staff—these sorts of job allow them to practice. If AI does all of these jobs—what works would be leave for people? That is the big question on how to train and mange staff at my bank.
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