SCB and VISTEC unveil fifth Mission X project
unleashing transformative potential of technology to usher in a new era for the Thai construction industry
Siam Commercial Bank (SCB) recently partnered with the Vidyasirimedhi Institute of Science and Technology (VISTEC) to launch a fifth “MISSION X – The Bootcamp of Advanced Corporate Transformation,” with the goal of reviving the vision of digital transformation to leaders of large corporations in important Thai industries. This intensive program is tailored to the needs of the contractor and construction material sectors to offer business executives the vision and skills they need to hasten the process of digitizing Thai industry. For the purpose of fostering exponential growth in the midst of crises and challenges, the course is packed with insights from renowned IT speakers to tackle critical issues on the transition of the Thai construction sector. Participants will be able to analyze case studies from national model CEOs and receive special one-on-one consultations from specialists in order to design a digital strategic plan for their organizations.
To mark the inauguration of the course, the ceremony was honored by VISTEC Chairman of the Council Dr. Pailin Chuchottaworn; WHA Corporation PCL Chairperson and Group Chief Executive Officer Jareeporn Jarukornsakul in her capacity as Chairperson of the Mission X Program; Siam Commercial Bank Chief Executive Officer Kris Chantanotoke; Siam Commercial Bank Senior Executive Vice President & Chief Wholesale Banking Officer and Chief Wealth Banking Officer Yunyong Thaicharoen; and VISTEC President Professor Dr. Jumras Limtrakul, at Siam Commercial Bank headquarters.
VISTEC Chairman of the Council Dr. Pailin Chuchottaworn said, “In today’s technologically advanced society, large corporations must address digital transformation. The pace at which digital transformation occurs now is unprecedented. These innovations lower the cost of technology adoption, and companies that are quick to embrace new technologies will gain an advantage in the marketplace. Modern organizations in today’s digital world need to be prepared to take advantage of technologies and data, and they also need to know how to evaluate data in order to satisfy the demands of their customers, which will in turn effect competition and create prospects for steady expansion. Changes have already affected the construction business, such as the usage of 3D printing technology to construct houses or the deployment of drones for site surveys. Modern technology has also greatly aided in cutting down on time and money spent on labor. This is why it is crucial for company executives to adopt a forward-thinking perspective and continually enhance their skill sets across all phases of a project. These actions will contribute to the expansion of their businesses and yield positive outcomes for their clients, partners, and the entire supply chain. We are confident that the Mission X bootcamp will help improve businesses and offer them the tools they need to sustainably adapt to new circumstances.”
WHA Corporation PCL Chairperson and Group Chief Executive Officer Jareeporn Jarukornsakul in her capacity as Chairperson of the Mission X -The Bootcamp of Advanced Corporate Transformation stated that,”When mapping out long-term company strategies, business operators should take into account megatrends that produce substantial structural changes in the global economy, particularly net zero emissions, which will drive the new economy. Thailand will bring about change if it can provide possibilities for its people to take advantage of. Trade disputes have also led to some companies moving their operations from China to Thailand and the economy as a whole is benefiting from this shift. The fifth Mission X aims to highlight that entrepreneurs in the Thai construction industry must closely monitor trends and their ramifications in order to create an all-encompassing roadmap for digital transformation within their organizations, as well as apply key digital technologies for upgrades in order to maximize their organizations’ potential, particularly for logistics cost management. This is another factor that has the potential to boost international competitiveness.”
Siam Commercial Bank Chief Executive Officer Kris Chantanotoke noted, “Digital disruption has led to concerns among business owners, and the primary goal of modern, large-scale structural transformation is how an organization can survive in a world full of startup enterprises. On the other hand, this may be viewed as a chance to fuel rapid expansion for businesses. Large corporations can make the necessary adjustments if they employ technology to its fullest potential. A digital attitude needs to be ingrained as part of the corporate culture at all levels of a major firm, not only where technology is used in the operational process. Both Siam Commercial Bank and VISTEC are certain that technological advancements will have far-reaching positive effects on the economy and society.”
“For the country’s most influential businesspeople, we have developed the “MISSION X” program to help them develop a clearer understanding of the digital landscape. With over 120 companies enrolled in the program and over 1.8-billion-baht investment in digital transformation thus far, it’s obvious why the program has been kept running for a fifth class. The major contractors and construction materials industry in the country is another sector that has been impacted by digital disruption, and this time we are focusing on establishing a digital vision for this group of large corporate executives. Although there may not be much of an immediate impact on Thailand, we do see a tendency toward rapid and intense implications from a variety of causes over the long term, including the demographic make-up of the workforce, which might lead to future shortages and higher wages. In order to retain organizational vitality and generate ongoing and sustainable growth during this period of instability, it is crucial that industry participants respond swiftly to this dilemma.”
