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AI firm Cyferd to expand into Thailand after being ‘ignored’ by UK Government

Written by Tue 29 Aug 2023

UK-based artificial intelligence (AI) solution provider Cyferd has announced its expansion into Thailand after being ‘ignored’ by the UK Government.

The Leicester-based company attempted to hold multiple conversations with key officials within the UK Government, but claim they have been ‘denied or ignored’.

Cyfed say they have had ‘immense success’ in empowering worldwide organisations, but could not engage their own Government.

“Collaborative partnerships, particularly with trailblazing nations like the UK, are pivotal in propelling us forward,” said Thai entrepreneur and business tycoon, Pairoj Piempongsant.

In spite of Cyferd’s setbacks, the company emphasised their continued commitment to contributing to the UK’s technological advancement and supporting the nation’s goal of ‘becoming a global AI superpower’. The firm looks to show how widespread digital transformation could benefit the UK public sector by improving worker lives and alleviating strain on sectors like healthcare.

In a shift of focus away from the UK, Cyfed will now set up a new regional headquarter in Thailand’s Silicon Tech Park. The Park is located within the £31.7 billion ($40 billion) Eastern Economic Corridor.

“This collaboration is a significant step towards becoming a digital-first institution and ensuring our students and staff benefit from a seamless and technologically advanced learning and teaching environment,” said the Director of the University of the Thai Chamber of Commerce.

Cyfed will look to boost Thailand’s global AI innovation presence.

Why Thailand?

Cyferd cited Thailand’s commitment in driving progress in the AI race as the reason for their partnership.

Thailand’s forward-thinking leadership in harnessing AI was also acknowledged in Cyfed’s move to the country. AI was recognised for its potential in improving society, and elevating Thailand’s global standing.

“We believe that the ASEAN market holds tremendous potential, with 100 million people in Thailand and 700 million across the region,” said Ranjit Bahia, Founder and CEO of Cyferd.

The projected growth of Southeast Asia’s Internet economy could exceed £285 billion ($360 billion) by 2025, according to a report by Google, Temasek, and Bain & Company. By 2030, ASEAN’s digital economy could reach £794 billion ($1 trillion).

Partnerships in the region are appealing to global businesses that wish to capitalise on these prospects.

Tech companies shift focus away from UK

Cyferd’s strategic shift in focus to Thailand is another instance of tech companies looking away from the UK to grow their businesses.

Despite talks with Prime Minister Rishi Sunak to remain in the UK, chipmaker Arm applied for a listing on the NASDAQ stock exchange in what could become the biggest US initial public offering of the year.

Within the UK tech landscape, Sunak tried to entice the AI firms to set up base in the UK. Since then, OpenAI, Anthropic, and Palantir have agreed to open London headquarters.

Tightening regulations like the Online Safety Bill have spurred companies like WhatsApp to warn that they will leave the UK rather than submit to weaker encryption.

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Written by Tue 29 Aug 2023

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