Vietnamese businesses use AI to boost competitiveness

AI For Business

Under the theme of “Vietnam's Competitiveness in the AI ​​Era and the New World Order”, over 120 top executives and technology leaders discussed the pros and cons of applying AI to their businesses.

Professor Tung Bui“Vietnam is accelerating its global integration while facing unprecedented challenges, including the power struggle between China, the United States, the European Union and Japan, the unpredictable tariff war and the uncertain impact of climate change. There are two unresolved issues in applying AI: costs and benefits,” said Huawei's Executive MBA Director, University of Hawaii Vietnam.

Vietnamese businesses use AI to boost competitiveness
Professor Tung Bui, Director of Executive MBA at the University of Hawaii in Vietnam

“There is a need to clearly determine how much to invest in applying AI and what benefits it will bring. This is a question that every business needs to find an answer to,” Bui said. building.

“AI is currently having two main impacts on businesses: how to leverage AI to reduce operational costs and increase sales and revenue,” Bui said.

For example, AI can help companies better understand their markets and monitor when customers receive and use their products, says Bui. AI can perform sentiment analysis, allowing companies to set the right price to satisfy customers, which can help companies increase revenue.

“For Vietnamese enterprises to compete globally, they need to be clear about the advantages and disadvantages of AI and focus on the positive aspects,” Bui said.

“One of the reasons multinational companies are concerned about Vietnam is that its production system is considered inferior to China's in terms of machinery, risk management and human capacity. AI can help alleviate these concerns,” he said.

I will talk to building, Dr. Vance LowryThe dean of the Shidler School of Business at the University of Hawaii and dean of Van Lan University, commented that AI has the potential to transform the workplace by improving onboarding and efficiency. AI can also be used to assess a company's health and predict financial outcomes, but it has limitations in certain areas. Training and education are essential to prepare employees for the impact of AI.

Vietnamese businesses use AI to boost competitiveness
Dr. Vance Lawrie, dean of the Shidler School of Business at the University of Hawaii and member of the Van Lang College of Management faculty;

Rory said AI talent development programs should become a new initiative for companies working with universities.

Vietnam is already a leader in software and at the forefront of AI. AI will rapidly transform the workplace in Vietnam, leading to increased efficiency and greater creativity among its people. “We don't need to rely on the creativity of AI, we need to rely on efficiency,” he said.

He added that as companies prepare to adopt AI, they must first invest in generative AI products and the talent to ensure they can be used productively and ethically.

“This is going to grow rapidly and workers will need to be trained on how to use AI efficiently,” he said.

In the age of AI, the race is on to produce the best intelligence. It is also a race against time, as companies that cannot adopt new technologies quickly risk falling behind. Vietnam, with its strong affinity for technology, seems ready to embrace AI.

Vietnamese businesses use AI to boost competitiveness
More than 120 top business executives and technology leaders gathered at the Shidler Global Leadership Summit in Ho Chi Minh City on July 5.

As a leader in the food and agriculture sector, Nguyen Thi Tra MyThe PAN Group co-founder and CEO said the industry cannot shy away from the trend of applying AI, which can promote automation, improve productivity and effectively manage resources.

However, the application of AI in agriculture also faces challenges in terms of data, investment costs and labor, she added.

“By combining AI with farmers' traditional experience, we can create sustainable and effective agricultural models suited to real-world conditions. This will not only help to improve productivity and product quality, but also help to protect and develop natural resources and biodiversity. If we know how to collect and organize data, we can 'train' AI based on farmers' knowledge and experience, helping to preserve traditional techniques and pass them on to future generations,” said Tra Mai.

“No matter how advanced the technology becomes, we still need close collaboration between governments, farmers, scientists, businesses and consumers,” she added.

Many other topics were discussed at the Shidler Global Leadership Summit, including Vietnam's current business environment and technology infrastructure, CEOs' views on AI adoption, whether Vietnam's IT industry is ready for the AI ​​era, and assessing the impact of AI on Vietnam's banking & insurance, tourism & hospitality, real estate & manufacturing, and healthcare sectors.

He also mentioned the potential for AI to contribute to improving the competitiveness of Vietnam's agriculture and fisheries products.

The Vietnam Executive MBA (VEMBA) program at the University of Hawaii Shidler College of Business offers unparalleled opportunities for career advancement. This AACSB-accredited program combines rigorous academic coursework with practical, on-the-job learning experiences designed specifically for full-time executives. Since its inception in 2001, VEMBA has built a diverse cohort of more than 1,000 professionals from over 20 countries, providing a unique platform for networking and collaboration.

The program has a flexible hybrid format that combines face-to-face and online sessions, allowing participants to maintain their work responsibilities while pursuing their MBA. With faculty from prestigious schools and a strong alumni network, VEMBA stands out as a top choice for those aspiring to leadership and excellence in the global business arena.

In recent years, global supply chains have been restructured to be more resilient against various uncertainties, positioning Vietnam well in a world shaped by changing geopolitical dynamics and the emergence of generative AI.

Redefining journalism in the age of AI Redefining journalism in the age of AI

The recent rise of AI has some journalists and media agencies fearing an invasion of their journalistic work, where it will be used (sometimes without permission) as a source to generate personalized content or to assist social media users who aspire to be opinion leaders.

Clarifying media trends in the age of AI Clarifying media trends in the age of AI

There is an ongoing debate as to whether AI will be able to fully replace skilled journalists in the future. Nguyen Tan Son, Chairman of Media Ventures Vietnam Group, discussed with VIR's Hagy Tran the impact of related applications, as well as the caveats and benefits of AI.

AI is becoming more prevalent in electronic payments AI is becoming more prevalent in electronic payments

As the risk of cashless payment fraud increases, banks are accelerating their adoption of AI-powered security measures and biometric authentication to make transactions safer and protect consumers.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *