AI will help Vietnam's digital economy reach the $220 billion mark sooner.

On the morning of July 11th, the National Innovation Center (NIC, Ministry of Planning and Investment ) and Google jointly launched the "Building the Future of AI in Vietnam" program, a comprehensive initiative aimed at promoting the development of artificial intelligence (AI) in Vietnam.

The initiative focuses on two main pillars: fostering talent and fostering businesses. Each pillar addresses key issues to support the development of Vietnam's human resources, nurture the startup ecosystem, and strengthen the foundation for maximizing AI adoption.

According to Google, the digital economy in Southeast Asia has grown exponentially, increasing eightfold in just eight years, reaching an economic value of $100 billion and is projected to reach $835 billion by 2030 thanks to AI.

Marc Woo - Managing Director, responsible for Vietnam, Google Asia Pacific. Photo: Trong Dat

Despite the promising economic growth prospects from AI, Vietnam currently faces a significant challenge: a shortage of AI personnel and experts. This scarcity of human resources, coupled with a lack of access to high-quality AI training programs, further widens the gap between market demand and the available workforce.

Besides the talent shortage, AI startups in Vietnam also face challenges such as a lack of access to experts and mentors to evaluate and assess whether their AI products meet market needs.

Vietnamese AI startups also lack access to infrastructure, platforms, and tools ready for businesses. These are considered essential elements for the development, commercialization, and scaling of AI products.

According to Marc Woo, Managing Director for Vietnam, Google Asia Pacific: “ Vietnam’s digital economy is projected to grow elevenfold by 2030, reaching $220 billion, equivalent to nearly half of Vietnam’s current GDP .”

“ AI is one of the key factors in realizing the above prediction. Together with NIC, we believe that the 'Building the Future of AI in Vietnam' initiative will be a solid launching pad for talents, startups, and businesses in the country, ” a Google expert shared.

The Ministry of Planning and Investment, together with Google, will launch the initiative "Creating an AI Future for Vietnam". Photo: Trong Dat

To address these challenges, Google, in collaboration with the National Innovation Center, will launch a digital talent development program, offering 40,000 scholarships across 10 courses, including one on artificial intelligence. The program aims to equip young Vietnamese people, including faculty, lecturers, and students from over 80 universities and colleges nationwide, with the latest AI skills.

This is an upgraded version of the Digital Talent Development program launched by Google and NIC in July 2022. To date, the program has equipped 60,000 working-age individuals in Vietnam with digital skills.

Furthermore, recognizing the crucial role of local startups, Google has committed to supporting the development of the startup ecosystem in Vietnam from the very beginning. This year, with the Google for Startups Accelerator, the search giant aims to support and promote Vietnamese startups in the AI ​​era.

According to Mr. Tran Duy Dong, Deputy Minister of Planning and Investment, the development of AI will completely change the way people research, work, and create content, and is predicted to contribute trillions of USD to the global economy.

“ In this context, Vietnam is taking strong steps to promote research, application, and development of AI human resources. In 2022, Vietnam ranked 55th in the world in the AI ​​innovation index ,” Deputy Minister Tran Duy Dong shared.

The "Building Vietnam's AI Future with Google - NIC" program demonstrates the strong commitment and support of the Ministry of Science and Technology and Google in promoting the AI ​​ecosystem in Vietnam. The program will equip young Vietnamese human resources with the necessary skills to seize the opportunities of the AI ​​era, while also supporting innovative startups based on artificial intelligence.

Vietnam has a higher-than-average AI readiness index . In the context of widespread AI application, the General Director of IBM Vietnam believes that Vietnam needs to establish specific regulations and a governance framework for AI.

Source: https://vietnamnet.vn/ai-se-dua-kinh-te-so-viet-nam-som-can-moc-220-ty-usd-2300829.html