Key facts
- Kasikornbank is deploying AI to expand its wealth management customer base.
- AI integration is still in early stages across all units.
- AI is expected to impact productivity within two years.
- Relationship managers will be equipped with AI-augmented workspaces.
- Thailand's high-net-worth population is expanding rapidly.
Thailand's Kasikornbank is accelerating its adoption of artificial intelligence to expand its wealth management customer base amid an uncertain rate environment and weaker economic growth. CEO Kattiya Indaravijaya stated that AI is expected to deliver a "meaningful impact" on productivity within two years, with initial deployment for straightforward credit-approval decisions. The bank is also adopting a more cautious lending stance and emphasizing credit to customers with established records, leading to improved non-performing loan ratios. Thailand's economy is projected to grow at less than two percent annually over the next two-to-three years, facing headwinds from U.S. tariffs, subdued domestic consumption, high household debt, and a strong Thai baht. Wealth managers in Thailand are also undergoing a digital transformation, recognizing that advisory quality is the key differentiator and that AI-augmented workspaces for relationship managers are a practical entry-point for innovation. The sector is adapting to generational shifts in client expectations, favoring digital-first journeys and hyper-personalized advisory, while emphasizing hybrid models that blend digital convenience with human-led service.