Veerathai Santiprabhob: Rising above disruptions - a call for action

Keynote remarks by Dr Veerathai Santiprabhob, Governor of the Bank of Thailand, at the National Directors Conference 2018, organized by the Thai Institute of Directors, Bangkok, 21 June 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
27 June 2018
by Veerathai Santiprabhob
PDF full text
(137kb)
  |  6 pages

Dr. Bandid Nijathaworn,

Mr. Andrew Sheng,

Secretary General Rapee Sucharitakul,

Chief executives,

Directors,

Distinguished guests,

Ladies and gentlemen.

A very good morning to you all.

First of all, I would like to express my sincere thanks to the Thai Institute of Directors (IOD) for inviting me to be a part of this exciting and important event. I have always had strong appreciation for IOD's mission and work to improve director professionalism and corporate governance in Thailand. I would also like to commend the IOD on organizing this year's conference with a proactive and forward looking agenda that goes well beyond its focus on corporate governance. This year's conference program concentrates on areas that we need to collaborate to ensure the future success of our country. It is therefore such an honor to be here today to share my thoughts with distinguished directors and key leaders who play an integral role in driving Thailand forward.

Ladies and gentlemen,

We are living in an unprecedented period of profound changes where exponential advancement in technologies is transforming everything we know. The speed, scope and impact of this technological change are unlike anything we have experienced before. It is disrupting and transforming the whole value chains, across all sectors in all corners of the globe, at an extremely fast pace.

The effects of this digital revolution are far reaching. We have seen it affecting a wide spectrum of industries ranging from agriculture to automobile, encompassing a broad range of professions from farmers to financial professionals. Drones can now be used to monitor agricultural yields and provide logistic services. Artificial Intelligence (AI) can now predict certain forms of cancer more accurately than doctors and enable cars to be self-driven. From 3D printing, to genome mapping, to Internet of Things (IoT) and, very soon, Internet of Everything, the possibilities are limitless.