The Democrat Party has turned to one of Thailand’s leading futurists in a bid to rebound from its biggest crisis in eight decades.
Asst Prof Karndee Leopairote, a futurologist and cryptocurrency guru, was appointed deputy party leader for the digital economy after Abhisit Vejjajiva was re-elected as party leader on October 18.
Returning to the helm after six years, Abhisit named Karndee among eight specialist deputy leaders tasked with reversing the slumping popularity of Thailand’s oldest party.
The Democrat Party, turning 80 next April, saw its parliamentary seats fall from 159 in 2011 to 53 in 2019 and just 25 in 2023, with a record-low 2.23% share of the vote.
Abhisit, a former prime minister who served as Democrat leader for 14 years from 2005 to 2019, stepped down after the party’s poor 2019 election results and later quit as an MP over its decision to join the coalition government of ex-coup leader General Prayut Chan-o-cha.
From academic to tech guru
Karndee, 51, earned a bachelor's degree in engineering from Thammasat University before obtaining a master’s and doctorate in industrial engineering at the University of Wisconsin-Madison in the US.
After launching her career in academia, she expanded into the private sector before eventually entering politics. She was an assistant professor at her alma mater, Thammasat, from 2003 to 2014 and served as executive director of its Business Consulting Centre from 2005 to 2009.
Next came roles as director of the Future Innovative Thailand Institute and managing director of C ASEAN, which promotes the startup sector across Southeast Asia.
Karndee also founded the Thai Fintech Association in 2016, helping to drive Thailand’s early adoption of digital assets.
In 2018, she co-founded and led ICORA Asia, a consultancy helping startups and SMEs to raise funds through digital-token issuances or initial coin offerings (ICOs).
In 2022, she was appointed chair of the executive committee at fintech company DigitaLife Corporation. She has also served on the board of public organisations, including the Creative Economy Agency and Electronic Transactions Development Agency.
Fascinated by futurology
Driven by a passion for understanding and shaping the future, Karndee became chief adviser of FutureTales Lab, a pioneering research centre where experts in various fields explore future trends and scenarios, informing strategic planning and innovation.
She was later appointed chief foresight and digital assets officer at the centre, which was founded in 2020 by Magnolia Quality Development Corporation (MQDC), a leading Thai property developer.
FutureTales Lab analyses data to forecast trends in sustainability, leisure, work, living, and mobility. The insights predict challenges at the local, regional, and global level, helping to guide strategic decisions and offering new solutions to shared problems. The centre collaborates with academic institutions, businesses, and government agencies to create a comprehensive understanding of potential futures and foster proactive solutions.
Karndee explained that her FutureTales team typically approaches each problem from the macro level, then breaks it down to the national, regional, and local levels, using insights from experts across various fields.
In May 2024, the University of Wisconsin-Madison recognised her as an outstanding alumna in an online feature.
“We always think how factors are going to impact 10 years down the road. But more importantly, we think about consequences and then consider what our actions should be today,” Karndee told the university website. “We share this information and hope that this will trigger actions in different aspects at different levels.”
She admitted that though it was impossible to “see every detail of the future”, her team helps people understand where action needs to be taken.
As an expert in forecasting future scenarios, Karndee sees reasons for optimism, especially when it comes to spotting challenges early and shaping effective responses.
“I’m hopeful for the future, to be honest. I see change, especially with younger generations. People are more active and receptive to bad news and react quickly, which is much better than before, when there was a lack of willingness if the immediate present was not impacted,” she said in the article.
