Southeast Asia is positioned to harness the transformative potential of artificial intelligence (AI) and blockchain technology, but decisive action is necessary for the region to secure its future in an increasingly digital world.

A recent forum titled "THE WORLD'S NEXT OPPORTUNITIES AND BEYOND" held in Thailand brought together key policymakers and business executives to discuss the opportunities and challenges presented by technological advancements.

Among the notable attendees were former Prime Minister Thaksin Shinawatra, BlackRock managing director Elaine Wu, Tools for Humanity CEO Alex Blania, and GoTo Group CEO Patrick Walujo.

They addressed the considerable advantages that ASEAN holds and the challenges that must be navigated to fully leverage the AI boom.

Walujo highlighted the ASEAN region's significant advantages, including abundant energy resources in countries like Indonesia, a youthful population, and a relatively neutral geopolitical stance.

These factors enhance the region's attractiveness for investment in AI infrastructure development.

He emphasized, "We have abundant energy in the case of Indonesia, and we have a big population in Southeast Asia.

And I think it is also one of the areas where we are pretty neutral in the geopolitical space."

The predicted AI boom is expected to spur growth across various industries, including healthcare, finance, energy, and transport.

Blania described AI as potentially "the most transformative technology in human history," foreseeing vast improvements across numerous fields by 2028.

To maximize the benefits of AI, ASEAN countries face imperative challenges, particularly in talent development, closing infrastructure gaps, and establishing clear regulatory frameworks.

Former Prime Minister Thaksin, focusing on Thailand, elucidated the country's strategy to become a regional blockchain hub.

Plans include creating a regulatory sandbox in Phuket for cryptocurrency acceptance and introducing a stablecoin supported by government bonds.

"We are working on a digital wallet to pave the way for issuing digital IDs to Thai citizens," he stated, adding that a national blockchain is expected to be operational this year.

Thaksin also pointed out efforts to lower electricity costs to enhance competitiveness in AI development.

He compared data centers to crude oil, stressing the need for clean energy solutions to support technological advancements.

Walujo provided insights from GoTo Group, indicating that they are developing their own large language model (LLM) with Singapore assistance.

The launch of this model is anticipated next month.

He outlined three motivations for this initiative: to deliver unique services, enhance cost efficiency, and foster local AI talent with a focus on indigenous languages and contexts.

Elaine Wu identified four key driving forces of structural economic change: geopolitical fragmentation, AI advancements, transition to low-carbon economies, and aging demographics.

She asserted that Southeast Asia presents significant infrastructure investment opportunities in connection with these trends, particularly in renewable energy projects that support AI data centers.

She noted that Thaksin's initiatives to reduce power costs align with these global market demands.

The discussion underscored blockchain's growing importance, highlighting potential increased adoption following pivotal regulatory stances from major economies.

Blania identified a transition from foundational AI models to application-focused implementations as a key emerging trend, along with advancements in biospace and synthetic biology powered by AI, and the development of AI systems capable of addressing complex challenges.

Energy availability and skilled talent emerged as crucial for countries aiming to capitalize on AI and digital opportunities.

Walujo reiterated ASEAN's strengths in energy resources and workforce while also recognizing Thailand's need to develop a more robust technological talent pool.

The forum participants emphasized that successful navigation of the rapidly changing technological landscape will require strategic investments in infrastructure, education, and adaptable regulatory frameworks.

They acknowledged the importance of addressing energy costs, talent cultivation, and the complexities of geopolitical dynamics.

Looking toward the future, optimism about the ASEAN region's potential was palpable, though speakers stressed that actively seizing opportunities in the digital landscape will necessitate well-planned strategies.

As Thaksin articulated, fostering technological adoption and enhancing AI literacy among the Thai population is integral to navigating the evolving economy, with an optimistic forecast for AI's role in daily life and productivity enhancements across sectors.