Businesses that don't use AI will fall behind

At the workshop "The future of artificial intelligence in business" on the afternoon of September 21, within the framework of the Vietnam Artificial Intelligence Festival 2023 (AI4VN), Prof. Dr. Nguyen Thanh Thuy, Chairman of the Faculty - School Club - Vietnam Institute of Information and Communications Technology (FISU) said that AI creates many opportunities as well as challenges for development.

AI creates many opportunities for businesses to grow.

According to the professor, one of the reasons why AI attracts the attention of businesses is because it is considered a "one-capital, one-hundred-profit" solution. Reports from international organizations analyzing business data from 12 sectors worldwide show that AI applications help businesses increase profits by 15-20%. The global AI market is expected to reach 15,700 billion USD by 2030.

Chairman of AI Next Global, Mr. Cao Xuan Hoai Vuong also believes that AI is not a temporary trend but a turning point of the era, affecting all economic, medical, and health sectors... Businesses either use AI or will fall behind.

Mr. Cao Xuan Hoai Vuong said that currently, many countries in the world have policies to promote AI development such as Japan and Singapore, all of which have AI development strategies. In Vietnam, according to him, to promote businesses to apply AI, it is necessary for ministries and branches to play a guiding role, considering AI as an opportunity for businesses to develop and grow.

In addition, he also believes that "Big Tech" businesses and AI startups should work together to develop together. Ministries, departments, and businesses should pay attention to training the entire population on how to apply AI to business and production, so that they understand that "AI is easy to use and increases productivity".

Mr. Vo Minh Thao, National Sales and Marketing Director, Aqua Vietnam Electrical Appliances Co., Ltd., also emphasized that AI technology has strong influence and many applications in production, healthcare, environment, and information technology. Citing the ability of AI technology to automate all tasks, he said that at the 8,000 m2 Aqua factory, only two employees are now needed to operate. AI helps Aqua check for all technical errors, bringing the error rate to 0%. AI helps the unit analyze big data and make smart decisions.

"Previously, the process from production to consumer took 30-45 days. With AI, we can build a simulation model in just 7 days," said Mr. Vo Minh Thao.

Dr. Le Thai Hung, Director of Strategy VNPT AI, also affirmed the enormous impact of AI on the global economy. According to him, the reason for this explosion is that AI technology is used to compress human knowledge. Even with just a mobile phone in hand, each person can have an AI assistant by their side. AI can decide to replace some human work, helping to increase work efficiency, thanks to a comprehensive digital transformation ecosystem.

At AI4VN, domestic and international experts all agree that AI is the future to promote global economic development in the coming time. This is the beginning of a new technological revolution, requiring action from the Government and businesses. However, things cannot be rushed, but here we need to use AI responsibly, and we need to come up with codes of conduct to limit risks and ethical standards caused by AI development.

In Vietnam, experts assess that AI has received special attention from the Government for development. Typically, on January 26, 2021, the Prime Minister issued a Decision on the "National Strategy on Research, Development and Application of Artificial Intelligence to 2030". The strategy sets out the goal of "promoting research, development and application of artificial intelligence, making AI an important technology field of Vietnam in the 4th Industrial Revolution", contributing to economic and social development and gradually making Vietnam a bright spot in research, development and application of AI in the region and the world.

In addition, many domestic enterprises have also focused on developing AI solutions, especially VinBigdata with the launch of a Vietnamese language model developed by Vietnamese people. This will be a highlight to promote the development of this technology, especially domestic AI in the near future.

Countries are ready to cooperate with Vietnam to develop AI technology . Representatives of the consulates said that countries are ready to cooperate with Vietnam to develop artificial intelligence (AI) technology, and emphasized the need to develop AI responsibly.

Source