KKP Research upgraded Thailand's 2026 GDP growth forecast to 2.5% from 2.1%, citing AI investment and electronics exports. However, the recovery is K-shaped: high-tech sectors benefit while automotive, petrochemical, SME, and appliance industries struggle with structural headwinds and import competition. Policy concern: Thailand exports AI-related goods but risks capturing limited domestic value due to assembly-only positioning and foreign ownership of major investments. State must align BOI incentives with technology transfer, local value-add, and sustainable resource use to maximize AI spillovers.