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Delta Future Industry Summit 2024 Leads the Charge in Unlocking AI’s Potential for Southeast Asia’s Development

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BANGKOK, Oct. 21, 2024 /PRNewswire/ — Delta Electronics (Thailand) PCL. successfully hosted the Delta Future Industry Summit 2024 on October 18 at the Grand Ballroom, Chatrium Grand Hotel, Bangkok. Under the theme, “Unlocking the Potential of AI for Industrial and Data Center Growth in Southeast Asia,” the summit explored AI’s role in reshaping industries, enhancing efficiency, and driving sustainable development across the region. The event focused on AI’s transformative potential in industrial automation, data center optimization, and building automation, emphasizing its ability to address energy efficiency, tackle sustainability challenges, and foster innovation in Southeast Asia’s rapidly growing markets.

The Delta Future Industry Summit 2024 serves as a pivotal platform for exploring the challenges and opportunities presented by the latest industry trends, inspiring new ideas for sustainable growth. This year, by once again bringing together industry leaders, innovators, and policymakers, the summit fostered dynamic discussions on the future of AI-driven growth in the region. It emphasized the potential of Southeast Asian countries potentials and highlighted their efforts to overcome challenges, harnessing AI’s power for sustainable development.

H.E. Mr. Prasert Jantararuangtong, Deputy Prime Minister of Thailand and Minister of Digital Economy and Society gave a special address to outline the nation’s journey towards AI era titled, “Thailand’s Path Forward in the AI Era”. Mr. Victor Cheng, Delta Thailand CEO, gave a welcome speech and talk titled, “Harnessing AI for Unleashing Growth Potential in Southeast Asia“. For the keynote address, Mrs. Paradee Sinthawanarong, Head of Marketing for Thailand & Vietnam at Facebook Thailand, gave a presentation titled, “The Future of AI-Driven Connectivity” and fireside chat session by Mr. Tim Rosenfield, co-founder and co-CEO of Firmus Technologies and Sustainable Metal Cloud (SMC) and Mr. David Leal, VP of SEA Business at Delta Electronics (Interviewer) in “Unlocking Sustainable AI Growth.”

H.E. Mr. Prasert Jantararuangtong, Deputy Prime Minister of Thailand and Minister of Digital Economy and Society, remarked: “AI is not just a passing trend; it is a transformative force set to reshape our economies, industries, and societies. With the global AI market expected to reach beyond US$826 billion by 2030, Thailand is committed to seizing this opportunity through a structured approach outlined in Thailand’s National AI Strategy. Our goal is to cultivate more than 30,000 AI talents by 2027 and generate AI-driven businesses valued at over 48 billion Baht. Likewise, our regional neighbors are investing in AI to drive economic growth and enhance quality of life. I believe that together, we can position the region as a global leading force in AI-driven innovation.”

Mr. Victor Cheng, Delta Thailand CEO, emphasized “I am delighted to see the lively discussions at the Delta Future Industry Summit 2024 as we explore how AI is revolutionizing key industrial sectors. Delta is proud to be part of this transformation with AI-driven solutions, such as our highly efficient air-assisted liquid cooling (AALC) solution, which delivers 2.5 times more cooling capacity and consumes less than 7% of the power compared to traditional air cooling. Delta’s vision goes beyond staying ahead of trends—it’s about shaping a future where technology enriches lives, businesses thrive, and sustainability guides every action to create an intelligent, sustainable, and connected world.”

For the keynote address, Mrs. Paradee Sinthawanarong, Head of Marketing, Thailand & Vietnam at Facebook Thailand, said “At Meta, we’re proud to be connecting over half of the world’s population in inspiring and innovative ways, with daily users exceeding 3.27 billion. To further drive growth for businesses, we’ve invested over $100 billion in innovation and AI technologies that supercharge these connections. Our cutting-edge Gen AI for businesses is now available to Thai businesses through our Advantage+ Creative empowers businesses to customize their campaigns into multiple variations, maximizing time and resources while efficiently building personalization and connection at scale.”

Speaking at the keynote address, Mr. Tim Rosenfield, co-founder and co-CEO of Firmus Technologies and Sustainable Metal Cloud (SMC), emphasized that as AI continues to revolutionize industries, one of the biggest challenges we face is its growing energy demand. Southeast Asia, with its rapidly expanding data center market, offers a unique opportunity to address this. Liquid cooling infrastructure is a game-changer here, offering up to 50% reductions in power consumption and CO₂ emissions. Retrofitting existing data centers with this technology is not only feasible but essential to ensure scalability while reducing environmental impact.

The first panel discussion, titled “Challenges and Opportunities in Implementing AI Datacenter Infrastructure” brought together thought leaders including Mr. Theerapun Charoensak, Managing Director of True IDC; Ms. Jamie Ko, Director of Regional Public Affairs and Policy at Grab; Ms. Ing Sirikulbordee, Public Policy of Meta; and Mr. Sakda Sae-Ueng, SEA Regional Business Director of ICT. The panelists delved into the importance of Responsible AI as a foundational element for developers, platforms, and countries, highlighting its crucial role in building trust, transparency, and accountability in AI technologies. They discussed strategies for integrating AI into existing platforms, emphasizing the need for seamless implementation that enhances user experiences while minimizing disruptions and operational risks. The conversation also explored how companies can future-proof their AI investments by staying agile and innovative, continuously adapting to rapid technological changes, and investing in scalable solutions to maintain a competitive edge in the ever-evolving digital landscape.

The second panel discussion, titled “Harnessing the Power of AI for Intelligent Work and Living Spaces” featured Mr. Aylwin Tan, Chief Customer Solutions Officer of CapitaLand; Mr. Pakasit Phungrassamee, Cement Operation Transformation Director at SCG; Dr. Chowarit Mitsantisuk from Kasetsart University; and Mr. Jen Yang, Global Strategic Product Development of Delta Energy Infrastructure Business Group. The panelists addressed the challenges companies face when integrating AI into manufacturing and building environments, emphasizing issues such as aligning AI with existing systems, high costs, and data integration. They highlighted AI’s role in enhancing sustainability and energy efficiency in buildings and factories by optimizing resource management and reducing waste through AI-enabled features. The discussion also focused on AI-powered spaces’ ability to adapt to users’ needs while underscoring the importance of privacy and security, stressing the need for robust data protection and transparent policies.

Additionally, Delta showcased the following products and solutions at the summit:

Datacenter Infrastructure SolutionsSmart Manufacturing SolutionsEnergy Infrastructure SolutionsAI-powered Intelligent Surveillance and Intelligent Building Management Solutions

The Delta Future Industry Summit 2024 has once again taken a leading role in establishing a collaborative platform for industry leaders and policymakers, inspiring innovative ideas that contribute to a sustainable and prosperous future for Southeast Asia. Aligned with its mission “To provide innovative, clean, and energy-efficient solutions for a better tomorrow,” Delta continues to push the boundaries of technology and sustainability, promoting collaborations that empower industries and communities to thrive in this era of AI-driven transformation.

About Delta Electronics (Thailand) Public Company Limited

Founded in 1988, Delta Electronics (Thailand) PCL. is a producer of power and thermal management products and solutions. The company is a subsidiary of Delta Electronics, Inc. with the mission statement, “To provide innovative, clean and energy-efficient solutions for a better tomorrow,” which reflects the company’s strong belief in sustainable development especially with issues related to the environment.

As an energy-saving solutions provider with core competencies in power electronics and innovative research and development, Delta’s business categories include Power Electronics, Automation, Infrastructure and Mobility. The company’s global presence is supported by its sales offices in key regions around the world; manufacturing facilities in India, Slovakia and Thailand; and several R&D centers located in Thailand, India, Germany and other countries.

Delta continues to earn numerous recognitions for its achievements in the region and domestically. Some awards won include the prestigious ASEAN Business Award, Stock Exchange of Thailand’s Best Company Performance Award and the coveted Prime Minister’s Best Industry Award.

For detailed information about Delta Thailand, please visit: http://www.deltathailand.com/

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SOURCE Delta Electronics

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Singapore Hosts Delegation Led by President and Chief Justice of Supreme People’s Court of the People’s Republic of China for Eighth Singapore-China Legal and Judicial Roundtable

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October 21, 2024

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SINGAPORE, Oct. 20, 2024 /PRNewswire/ — At the eighth Singapore-China Legal and Judicial Roundtable, co-chaired by The Honourable the Chief Justice Sundaresh Menon of Singapore and President and Chief Justice of the Supreme People’s Court (SPC) of the People’s Republic of China, His Excellency Zhang Jun, the two judiciaries discussed proactive case management, conflicts of jurisdiction and coordination of parallel proceedings, Artificial Intelligence and justice systems, and Judges’ training.

The Roundtable was convened in Singapore from 14 to 17 October 2024. The delegation led by His Excellency Zhang included judges and officials such as Justice Yang Wanming, Vice-President of the SPC, Justice Zhang Yingjie, President of the High People’s Court of Yunnan Province and Ms Zhao Juhua, President of the Intermediate People’s Court of Shenzhen. This is His Excellency Zhang’s first visit to Singapore in his capacity as President and Chief Justice of the SPC and the first time the delegation is back in Singapore since the Covid-19 pandemic.

The Roundtable is the centrepiece of the strong relationship between the Singapore and China judiciaries, and the Supreme Court of Singapore and the SPC have taken turns to host the Roundtable. Since its inception in 2017, the Roundtable has been an effective platform for judicial cooperation and for both judiciaries to learn from each other’s perspectives and experiences in areas of mutual interest.

Chief Justice Menon said in his opening remarks of the Roundtable, “Our judiciaries have enjoyed an extremely warm relationship for many years now. This has mirrored the strong bilateral relations between Singapore and China, which were upgraded last year to an “All Round High Quality Future Oriented Partnership”. Legal and judicial cooperation has been an important pillar of our close ties, and this cooperation has continued to flourish since we met in Beijing for the seventh edition of the Roundtable.”

Sharing his insights on the discussion topic “Proactive Case Management”, Chief Justice Menon suggested that case management is a key part of the procedural architecture that our courts operate and the overall administration of a judicial system. As the caseload of our courts increase in volume and complexity, we will need to embrace a more proactive role in case management. Chief Justice Menon elaborated on how the Singapore Courts have sought to implement an approach of proactive case management at three main levels: through the frameworks we operate and apply; through the processes we implement; and through the thought and care that our people bring to the task of case management in each case. 

The two Chief Justices also held a bilateral meeting where they took stock of the progress that each court has made in the past year and discussed future plans, including opportunities for the two judiciaries to work together to address similar challenges they encounter.

Visit News and speeches (judiciary.gov.sg) for more details.

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SOURCE Supreme Court of Singapore

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Xinhua Silk Road: Annual Conference of Financial Street Forum 2024 brings attention to China’s financial opening-up, cooperation for economic stability

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October 21, 2024

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BEIJING, Oct. 20, 2024 /PRNewswire/ — The Annual Conference of Financial Street Forum 2024 kicked off on Friday in Beijing, gathering industry heavyweights to share their insights into financial opening-up and cooperation for shared economic stability.

The ongoing forum from October 18 to 20 is themed “Trust and Confidence – Work Together to Promote Financial Openness, Cooperate for Shared Economic Stability and Growth”. It is jointly hosted by the People’s Government of Beijing Municipality, the People’s Bank of China (PBOC), the National Financial Regulatory Administration (NFRA), the China Securities Regulatory Commission (CSRC), Xinhua News Agency, and the State Administration of Foreign Exchange (SAFE).

The recent implementation of a package of policies has boosted market confidence and played a positive role in promoting smooth economic and financial operation, said Pan Gongsheng, Governor of the PBOC. According to Pan, the central bank will strengthen counter-cyclical adjustments through monetary and macroprudential policies to serve high-quality development.

Li Yunze, Minister of the NFRA, told the forum that the administration will guide financial institutions to increase financial supply, optimize resource allocation, and accelerate smooth circulation of capital to boost China’s economic recovery.

Regarding the capital market, Wu Qing, Chairman of the CSRC, said the regulator will deepen a market- and law-based comprehensive investment and financing reform. It will also refine institutional mechanisms that promote the high-quality development of listed companies and strengthen market stability.

As a favorable “soft” environment created by media institutions is needed to boost trust and market confidence for the Chinese economy, Xinhua News Agency will spare no effort to expand themed coverage on economic development, and be a front-runner in orienting public opinions, according to Fu Hua, President of Xinhua News Agency.

The SAFE will intensify reform and promote high-standard opening-up of the foreign exchange sector. Efforts will be made to enhance policy evaluation and communication with the market as well as to enhance regulation and risk control capabilities, Zhu Hexin, Administrator of the authority said.

Agustin Carstens, General Manager of the Bank for International Settlements, said via video link that an increasing domestic demand of China will benefit the world, inject fresh momentum into the global economy and safeguard global monetary and financial stability.

Original link: https://en.imsilkroad.com/p/342681.html

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SOURCE Xinhua Silk Road

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Tookitaki, AI Compliance Solution Drives Expansion Across Key Asian Markets with Funding from True Global Ventures

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October 21, 2024

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Strategic funding to accelerate Tookitaki’s growth and drive innovation in financial crime prevention across Asia.

SINGAPORE, Oct. 21, 2024 /PRNewswire/ — True Global Ventures (TGV) Opportunity Fund, a global venture capital firm specializing in transformative technologies, has made a strategic investment in Tookitaki, a leader in anti-financial crime software. This capital will fuel Tookitaki’s rapid expansion and continued innovation across Asia, as financial institutions face mounting regulatory pressures to combat increasingly sophisticated financial crimes.

The capital injection, which comes as Tookitaki reaches its 10-year anniversary, will support Tookitaki’s mission to deliver cutting-edge anti-financial crime solutions to financial institutions in these regions, where compliance with anti-money laundering (AML) and fraud prevention regulations is becoming increasingly critical. Tookitaki has monitored over 10 billion transactions across 100 million consumers amongst its clients. The capital will be key to expanding Tookitaki’s footprint in key Asian markets, supporting its mission to deliver cutting-edge financial crime solutions to banks and fintech companies in the region.

Beatrice Lion, General Partner of True Global Ventures, stated:
“Our investment in Tookitaki reflects our confidence in their groundbreaking technology and unique ability to tackle financial crime across Asia’s key markets. As regulatory standards tighten and financial crime evolves, Tookitaki’s platforms provide scalable, AI-driven solutions for AML and fraud prevention that will help institutions stay ahead of these challenges. We are excited to support their journey of growth.”

Abhishek Chatterjee, Founder and CEO of Tookitaki, commented:
“We are thrilled to welcome True Global Ventures as we continue our growth trajectory. This partnership comes at a pivotal time for Tookitaki, allowing us to expand our reach in key Asian markets and further enhance our FinCense and AFC Ecosystem platforms. TGV’s deep expertise in scaling technology businesses globally will be invaluable as we continue to empower financial institutions with the tools they need to effectively combat financial crime. We’re excited for the next phase of this journey.”

Tookitaki: Revolutionizing Financial Crime Detection and Prevention in Asia

FinCense platform offers a robust, AI-driven solution for AML and fraud prevention, enabling financial institutions to identify and address financial crime with greater accuracy and efficiency. The AFC Ecosystem, brings together industry experts and institutions to continuously update and refine crime detection models, offering real-time unparalleled collective intelligence.

Both platforms employ Tookitaki’s federated learning approach, allowing institutions to leverage insights from diverse datasets without compromising data privacy, a critical factor in today’s heavily regulated financial landscape. This ensures financial institutions can meet compliance standards while benefiting from cutting-edge crime detection technology that adapts to new threats.

https://www.tookitaki.com/ 

About True Global Ventures:

True Global Ventures is a global venture capital firm with a focus on technology-driven businesses, particularly in AI, blockchain, and other disruptive industries. The TGV Opportunity Fund invests in late-stage technology companies with the potential to drive transformative change. With a strong track record of supporting AI-driven ventures, TGV helps businesses deliver meaningful impact across industries.

www.tgv4plus.com

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