The rapid development of technology and digital technology has caused major changes on market landscape and business model. Such changes present both opportunities and challenges to GC’s business operations. For example, the exponential growth of automation machine, artificial intelligence (AI) and robotics, which can uplift the efficiency of GC’s business operations. At the same time, it produces challenges in the contexts of technology and digital infrastructure development and employee capacity development in correspondence with the progress of novel technology. Furthermore, the implementation of AI, which has the capability of accessing, learning, and analyzing big data rapidly may produce human rights and ethical risks, such as impact on employment, person-in-charge of errors, etc. • The fast-changing technological progress, which has changed the overall business environment, may cause GC to lose opportunities and competitiveness in the long run if the company does not make haste in adapting the development of infrastructure, employees, and knowledge. • The accelerating progress of technological development may cause GC to invest more in technology to adjust work format or business style, including the need to prepare new skills for employees to keep up with and accommodate changes. • Leverage Corporate Venture Capital (CVC) investment as a tool to drive GC’s growth strategy, seeking opportunities to invest in digital technology or novel innovations. • Streamline innovation performance, including the implementation of cutting-edge technology, especially using digital technology for the modernization and innovation of factories, developing the production process into that of a smart plant. • Corresponding departments are assigned to supervise digital technology transformation and enable GC’s ability to sustainably preserve our future competitiveness with focus on three main aspects: (1) Business – employ digital technology to increase competitiveness and respond to stakeholder demands, assess impacts and determine mitigation measures to address potential risks. Emerging Risks Impacts from Advanced and Deep Technology Mitigation Measures Business Impacts Emerging Risks (2) Technology – Develop IT/ Data Architecture and enhance efficiency in managing cyberthreats. (3) Personnel – Enhance employee knowledge and understanding to correspond with new technological progress, including digital technology adaptation. • Establish clear digital transformation plan of action into three phases: (1) Digitization focuses on implementing technology to improve efficiency and increase productivity of work processes. (2) Digital Transformation of Function (DTF) focuses on using technology to adapt work processes and way of work and the implementation of Advanced Analytics. (3) Digital Transformation of Business (DTB) which can create opportunities for new businesses or change the format of existing businesses. Additional Information ISR 2021 page 141-145, 206-210, 244-245 One Report 2021 page 87 90 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED บริษัท พีทีที โกลบอล เคมิคอล จำ �กัด (มหาชน)
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