Business

How Thailand is Using Fiber-Optic Broadband to Power the Government

BANGKOK – As Thailand closes the second year of its two-decade “Thailand 4.0” plan to become a value-based economy, the infrastructure necessary to facilitate this transformation is almost ready.

Unveiled in 2015, Thailand’s ambitious plan involved delivering fiber-optic broadband to all of its 75,000 villages. After some delays, the plan is finally coming to fruition.

“By the end of 2019, all villages will have high-speed broadband internet access,” according to Pichet Durongkaveroj, who heads the Ministry of Digital Economy and Society (MDES).

After setting up internet access for all, the government is turning its attention to another facet of Thailand 4.0: data.

Nuttapon Nimmanphatcharin, President and CEO of Thailand’s Digital Economy Promotion Agency (DEPA), points out the importance of data, saying that it will serve as impetus for “strategic thinking” among people, leading to “new businesses and new innovations.”

Putting Big Data First

As a first step, the Thai government will collate data from all 20 ministries into a centralized big data management system. All ministries will have three initial tasks: checking lists of their data sets, identifying data sets, and defining focal points of usage for public benefit.

As most of the data sets in Thailand are “traditional and unstructured”, simply converting them into electronic data will be a big challenge, said Durongkaveroj. But when the system is fully integrated, all government agencies will have access to the data, enabling them to better implement policies and facilitate the country’s digital transformation.

In addition, the data sets will be shared with the public, “so startups and investors can use the government’s data to develop [solutions],” shares Nimmanphatcharin.

One sector that could use the help of big data is agriculture.

Using Big Data in Farming

Thailand’s agricultural sector has a low output and contributes only 10 percent of the nation’s GDP, according to the CIA World Factbook. But it does employ almost one-third of the country’s workforce, so the need to make the industry more productive is urgent.

Nimmanphatcharin believes that by using data analysis, Thailand “can decide what kind of crops to grow for this year or next year.” That’s the rationale behind the Food and Agriculture Revolution Model Information System (FAARM is), an initiative that’s already in progress.

The project is spearheaded by the Department of Agricultural Extension (DOAE), which is under the supervision of the Ministry of Agriculture and Cooperatives.

By collecting data on farmers, crops, and soil quality nationwide, FAARM is aims to help increase crop productivity and efficiency. Data analysis can evaluate the type of soil present in farms, and suggest suitable crops to be grown, explains Dares Kittiyopas, director of DOAE’s Information and Communication Technology Center.

Currently, the scheme is still in the data-gathering stage, but Kittiyopas claims that the next step is to “provide plant and crop knowledge to farmers via [a] mobile application, so that farmers will able to get information about plants in order to improve their productivity.”

Registration of 6.7 million farmers and 13 million farms nationwide is expected to be completed in the next couple of years.

Big Data in the Government

Of course, the government also plans to use big data to make itself more efficient.

Sak Segkhoonthod, president of Thailand’s Digital Government Development Agency (DGA), thinks that data will have an impact on important government functions like “budgeting, planning, and solving citizens’ problems.”

He explains, “First of all, the government will be able to ensure the budget goes to the appropriate avenues. Secondly, there would be better transparency throughout the government, as data becomes more easily accessible. Thirdly, citizens will have an opportunity to participate in certain things with the government as they can now get the meaningful information to them quicker.”

Nimmanphatcharin also agreed that an open system of big data could help combat corruption – something that’s “in the pipeline for the near future.”

Ensuring the Importance of Big Data and Beyond

Held from September 19 to 23, Digital Thailand Big Bang 2018’s theme was “Thailand Big Data.” To date, the event is Southeast Asia’s largest digital innovation exhibition, featuring 60,000 square meters of event space, over three halls and seven zones.

MDES Minister Durongkaveroj noted that students from the rural areas were able to compete with their urban counterparts in nationwide contests that were held alongside the event. He believes that “young people will continue to be a key force in the digital development of the country,” making the next 20 years pivotal for Thailand’s future.

Digital Thailand Big Bang 2018 was organized by DEPA and MDES.

Business

PepsiCo Reduces Revenue Projections As North American Snacks And Key International Markets Underperform.

(VOR News) – In the third quarter of this year, Pepsi’s net income was $2.93 billion, which is equivalent to $2.13 per share. This was attributed to the company.

This is in stark contrast to net income of $3.09 billion, which is equivalent to $2.24 per share, during the same period in the previous year. The company’s earnings per share were $2.31 when expenses were excluded.

Net sales decreased by 0.6%, totaling $23.32 billion. Organic sales increased by 1.3% during the quarter when the effects of acquisitions, divestitures, and currency changes are excluded.

Pepsi’s beverage sales fell this quarter.

The most recent report indicates that the beverage and food sectors of the organization experienced a 2% decline in volume. Consumers of all income levels are demonstrating a change in their purchasing habits, as indicated by CEOs’ statements from the previous quarter.

Pepsi’s entire volume was adversely affected by the lackluster demand they encountered in North America. An increasing number of Americans are becoming more frugal, reducing the number of snacks they ingest, and reducing the number of times they purchase at convenience stores.

Furthermore, Laguarta observed that the increase in sales was partially attributed to the election that occurred in Mexico during the month of June.

The most significant decrease in volume was experienced by Quaker Foods North America, which was 13%. In December, the company announced its initial recall in response to a potential salmonella infection.

Due to the probability of an illness, the recall was extended in January. Pepsi officially closed a plant that was implicated in the recalls in June, despite the fact that manufacturing had already been halted.

Jamie Caulfield, the Chief Financial Officer of Pepsi and Laguarta, has indicated that the recalls are beginning to have a lessening effect.

Frito-Lay experienced a 1.5% decline in volume in North America. The company has been striving to improve the value it offers to consumers and the accessibility of its snack line, which includes SunChips, Cheetos, and Stacy’s pita chips, in the retail establishments where it is sold.

Despite the fact that the category as a whole has slowed down in comparison to the results of previous years, the level of activity within the division is progressively increasing.

Pepsi executives issued a statement in which they stated that “Salty and savory snacks have underperformed year-to-date after outperforming packaged food categories in previous years.”

Pepsi will spend more on Doritos and Tostitos in the fall and winter before football season.

The company is currently promoting incentive packets for Tostitos and Ruffles, which contain twenty percent more chips than the standard package.

Pepsi is expanding its product line in order to more effectively target individuals who are health-conscious. The business announced its intention to acquire Siete Foods for a total of $1.2 billion approximately one week ago. The restaurant serves Mexican-American cuisine, which is typically modified to meet the dietary needs of a diverse clientele.

The beverage segment of Pepsi in North America experienced a three percent decrease in volume. Despite the fact that the demand for energy drinks, such as Pepsi’s Rockstar, has decreased as a result of consumers visiting convenience stores, the sales of well-known brands such as Gatorade and Pepsi have seen an increase throughout the quarter.

Laguarta expressed his opinion to the analysts during the company’s conference call, asserting, “I am of the opinion that it is a component of the economic cycle that we are currently experiencing, and that it will reverse itself in the future, once consumers feel better.”

Additionally, it has been noted that the food and beverage markets of South Asia, the Middle East, Latin America, and Africa have experienced a decline in sales volume. The company cut its forecast for organic revenue for the entire year on Tuesday due to the business’s second consecutive quarter of lower-than-anticipated sales.

The company’s performance during the quarter was adversely affected by the Quaker Foods North America recalls, the decrease in demand in the United States, and the interruptions that occurred in specific international markets, as per the statements made by Chief Executive Officer Ramon Laguarta.

Pepsi has revised its forecast for organic sales in 2024, shifting from a 4% growth rate to a low single-digit growth rate. The company reiterated its expectation that the core constant currency profitability per share will increase by a minimum of 8% in comparison to the previous year.

The company’s shares declined by less than one percent during premarket trading. The following discrepancies between the company’s report and the projections of Wall Street were identified by LSEG in a survey of analysts:

SOURCE: CNBC

Business

Old National Bank And Infosys Broaden Their Strategic Partnership.

(VOR News) – Old National Bank, a commercial bank with its headquarters in the Midwest, and Infosys, a firm that specializes in information technology, have recently entered into a strategic expansion of their link, which has been in place for the past four years.

This expansion is more likely to take place sooner rather than later, with the likelihood being higher.

For the purpose of making it possible for Old National Bank to make use of the services, solutions, and platforms that are offered by Infosys, the objective of this expansion is to make it possible for the bank to transform its operations and processes through the application of automation and GenAI, as well as to change significant business areas.

This lets the bank leverage Infosys’ services, solutions, and platforms.

Old National Bank Chairman and CEO Jim Ryan said, “At Old National, we are committed to creating exceptional experiences for both our customers and our fellow employees.”

This statement is applicable to Old National Bank. Infosys is carefully managing the business process innovations that it is putting us through, putting a strong emphasis on efficiency and value growth throughout the process to ensure that it is carried out efficiently.

This is a routine occurrence throughout the entire operation. Because of Infosys’ dedication to our development and success, we are incredibly appreciative of the assistance they have provided.

Old National has been receiving assistance from Infosys in the process of updating its digital environment since the year 2020, according to the aforementioned company.

Ever since that time, the company has been providing assistance. The provision of this assistance has been accomplished through the utilization of a model that is not only powerful but also capable of functioning on its own power.

Infosys currently ranks Old National thirty-first out of the top thirty US banks.

This ranking is based on the fact that Old National is the nation’s largest banking corporation.

It is estimated that the total value of the company’s assets is approximately fifty-three billion dollars, while the assets that are currently being managed by the organization are valued at thirty billion dollars.

Dennis Gada, the Executive Vice President and Global Head of Banking and Financial Services, stated that “Old National Bank and Infosys possess a robust cultural and strategic alignment in the development, management, and enhancement of enterprise-scale solutions to transform the bank’s operations and facilitate growth.”

This remark referenced the exceptional cultural and strategic synergy between the two organizations. Dennis Gada is the one who asserted this claim. This was articulated explicitly concerning the exceptional cultural congruence and strategy alignment of the two organizations.

We are pleased to announce that the implementation of Infosys Topaz will substantially expedite the transformation of Old National Bank’s business processes and customer service protocols. We are exceedingly enthusiastic about this matter. We are quite thrilled about this specific component of the scenario.

Medium-sized banks operating regionally will continue to benefit from our substantial expertise in the sector, technology, and operations. This specific market segment of Infosys will persist in benefiting from our extensive experience. This phenomenon will enable this market sector to sustain substantial growth and efficiency benefits.

SOURCE: THBL

Business

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

The largest regulated water and wastewater utility company in the United States stated Monday that it had been the target of a cyberattack, forcing the company to halt invoicing to consumers.

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

American Water, based in New Jersey and serving over 14 million people in 14 states and 18 military facilities, said it learned of the unauthorized activity on Thursday and quickly took precautions, including shutting down certain systems. The business does not believe the attack had an impact on its facilities or operations and said employees were working “around the clock” to determine the origin and scale of the attack.

water

The corporation stated that it has alerted legal enforcement and is cooperating with them. It also stated that consumers will not be charged late fees while its systems are unavailable.

According to their website, American Water operates over 500 water and wastewater systems in around 1,700 communities across California, Georgia, Hawaii, Illinois, Indiana, Iowa, Kentucky, Maryland, Missouri, New Jersey, Pennsylvania, Tennessee, Virginia, and West Virginia.

SOURCE | AP