BytePlus, a subsidiary of ByteDance, is exploring the possibility of establishing a data center in Thailand in 2025 to provide cloud and artificial intelligence (AI)-based services, according to a source familiar with the company.
The source said Thailand is part of the company's Asean expansion plan and the country's e-commerce has massive potential growth, particularly in terms of large retail brands that have many followers and over the top (OTT) players.
BytePlus recently introduced technology solutions, including live commerce solutions, in the Thai market through the appointment of Light Up Total Solution Public Co Ltd (LTS), a Thai company, as its exclusive dealer, aiming to capitalise on the local social commerce sector, estimated to be worth US$2.5 billion.
In general, by adopting an AI recommendation engine, businesses will be able to increase their gross merchandise value by 30%, said Monticha Kongthavee, head of enterprise (Thailand) at BytePlus.
"Video is the future of customer engagement, and AI, along with digital humans, will play a crucial role in enhancing that engagement to create a good experience," Ms Monticha added.
Putt Tratkosit, LTS's chief executive, said LTS recently signed a memorandum of cooperation to become a strategic partner with BytePlus (Thailand).
Under the deal, LTS will act as BytePlus's exclusive dealer and marketer in Thailand, offering BytePlus's technology solutions for businesses. These solutions include BytePlus Effects, BytePlus Recommend, BytePlus Live, BytePlus Video on Demand (VOD), BytePlus CDN, ByteHouse, and BytePlus Cloud.
These tools aim to enhance the competitive capabilities of business organizations and e-commerce entrepreneurs, enabling them to present products and services through AI technology, creating more attractive experiences and better engagement for customers.
The local social commerce is projected to grow by 34% in 2024 to reach $2.5 billion and is forecast to reach $8.6 billion by 2029 with a compound average growth rate (CAGR) of 28%.
"The future of e-commerce is live commerce, where streamers can live on a single platform and broadcast across multi-platforms such as TikTok, Instagram and YouTube simultaneously," Mr Putt noted.
LTS also appointed Siam AI Corp Ltd (SIAM AI) as its reseller to market BytePlus's service solutions. BytePlus Live and BytePlus VOD are the first tech solutions that will be rapidly marketed.
Ratanaphon Wongnapachant, chief executive of Siam AI, said the company will target e-commerce entrepreneurs or TV and digital business organizations that want to sell products and services via online platforms.
These solutions incorporate augmented reality technology, serving as a tool to customize marketing campaigns for individual brands and enhance viewer interest and engagement. The objective for the first year is to secure five corporate users of these solutions. Mr. Ratanaphon mentioned that the company intends to integrate its Thai language chatbot into BytePlus solutions to support the e-commerce sector.