Thailand, not just Singapore, is Asia’s quiet AI surprise, says NetSuite’s Amit Suxena

Amit Suxena, GVP and Head of NetSuite Asia, believes that AI has moved beyond the stage of answering questions based on simple queries. He envisions AI providing suggestions proactively, long before a user even asks. For instance, an AI could identify that a distributor's average inventory cycle is 22 days, calculate that a minor adjustment could reduce it to 17 days, and inform the owner about the financial implications of this change.

This example illustrates how NetSuite is promoting AI to help growing businesses in the region, focusing on creating suggestions rather than just automating tasks. Suxena emphasizes context over automation as the key to AI's potential.

When asked which markets have surprised him, Suxena does not immediately name Singapore, China, or Thailand. He highlights Thailand as a standout case. The country has attracted multinational corporations, particularly Japanese manufacturers, and its SMEs are motivated to adopt the latest tools to keep up with their larger counterparts.

Additionally, Thailand is proactively courting AI through initiatives such as an OpenAI-backed startup accelerator and a $80 billion semiconductor push. Malaysia and Indonesia, however, still lag behind in AI adoption.

The main barrier to AI implementation among SMEs, according to Suxena, is fear of the technology, not data privacy concerns. Small business owners often doubt their ability to implement AI effectively. NetSuite addresses this concern by offering rapid implementation and pre-built industry dashboards, enabling companies to start using AI quickly.

The true challenge lies in the fragmentation of tools used by SMEs. Companies typically employ multiple best-of-breed applications for different functions, which can hinder the effectiveness of AI when bolted onto such a complex setup.

Suxena argues that the real problem for Southeast Asia's SMEs is not a lack of AI, but rather the incoherent use of data across various systems. In a currency trading scenario, NetSuite does not claim to predict future currency movements. Instead, it provides historical data analysis, showing how purchases from one country affect delivery times and currency fluctuations in other markets.

This enables businesses to make informed decisions despite currency volatility. Finally, Suxena suggests that Southeast Asian founders looking to expand regionally should adopt a two-tier ERP model, similar to Chinese firms. Headquartered in a heavy enterprise system, and using a lighter, multi-currency, and multi-jurisdiction system like NetSuite for their overseas subsidiaries.