CMC – A Pioneer in AI Transformation

CMC Technology Group is one of the leading companies in Vietnam's AI transformation, with the ambition to become a global digital company. Mr. Nguyen Trung Chinh, Chairman of the Board of Directors of CMC, shared the company's strategic priorities and vision for the future. CMC has just been honored in Forbes Vietnam's Top 50 Best Listed Companies list. What key factors have contributed to this success after 14 years of listing? CMC is one of two information technology companies in Vietnam to be honored in Forbes Vietnam's "Top 50 Best Listed Companies in Vietnam 2024" list. This is the first time CMC has received this prestigious award, marking an important milestone and demonstrating the trust and high regard from investors. Besides impressive business results, a key reason Forbes Vietnam honored CMC is its proactive approach to the AI ​​Transformation wave – providing AI consulting services and technology solutions not only in Vietnam but also globally. CMC has been operating for 31 years and has continuously developed, especially in recent years. We are one of the leading companies, keeping pace with new technological waves such as AI, integrated circuit design, cloud computing, and cybersecurity. In 2017, we officially announced our digital transformation strategy, and today, we are moving towards the next phase: "AI transformation." CMC achieved impressive financial results in 2023. Although net revenue decreased slightly to VND 8,058 billion compared to the previous year, our pre-tax profit surged to VND 548 billion – the highest level since our listing on the stock market. After more than three decades of development, CMC has become a leading technology group, with approximately 10 member units focusing on four strategic business areas: Digital Infrastructure, Solutions & Technology, International Business, and Research & Education . Currently, CMC has over 5,000 employees and operates on a regional scale with estimated revenue and company value of approximately $400 million. CMC currently owns more than 20 core technologies, including facial recognition technology (FaceID), ranked 12th in the world according to the US National Institute of Standards and Technology (NIST). This capability allows us to meet the collaboration needs of thousands of partners and customers, which is a great source of pride for all of CMC. Our goal is to make CMC a global digital corporation by 2028, with a scale of billions of dollars and a workforce of 10,000 to 15,000 employees. What are the current trends in AI transformation in the region and the world ? How are these trends impacting Vietnam? AI is not a new technology; Research on AI began in the 1960s. However, in recent years, generative AI models have had a profound impact on all aspects of society. In early 2024, while attending the Davos Conference, I observed that AI had become a central topic of discussion among national leaders, academics, and the global business community. The European Union and the United States are pushing for new regulations related to AI to address its far-reaching impacts and potential risks. This requires a balanced and responsible approach to AI development. AI transformation is also being strongly promoted in many countries in the region. For example, South Korea launched its national AI transformation program in 2022, solidifying its position as a leader in e- government , digital government, and now AI transformation. Service providers are increasingly integrating AI into their products and services to enhance business productivity, better understand customer needs, and create new value for themselves. Looking to the future, AI will continue to develop and achieve new advancements in supporting human life. To mitigate the novelty and surprise of its adoption, individuals, organizations, and businesses need to grasp future AI trends, which may emerge in 2024. CMC is beginning a comprehensive transformation with AI technology, starting with CMC University, shifting from a digital university model to an AI university model. Will this transformation be implemented simultaneously across all four of CMC's core business areas: Digital Infrastructure, Solutions & Technology, International Business, and Research & Education? For over 31 years since its establishment, CMC Technology Group has actively invested in, researched, developed, and applied new technologies. When establishing CMC University, the leadership decided to leverage the group's technological strengths to build the university based on the digital university model. In July, the university transitioned from a digital university model to an AI university, committing to applying AI technology to operations, teaching, and enhancing the student experience. CMC will become a modern, innovative learning environment, enhancing the AI ​​application capabilities of students, staff, faculty, and researchers. I want to emphasize that the AI ​​university model is not just about training in AI or having AI majors, but more importantly, about using AI technology to comprehensively transform the activities of a university, from teaching and learning to operational management. Similarly, in our core business areas such as Digital Infrastructure, Solutions & Technology, International Business, and Research & Education, we have begun to fully transition our operations to an AI platform. We have established specialized units for AI-X transformation (formerly CX/DX digital transformation), and integrated AI applications into financial management, human resources, and business operations. Alongside our internal AI transformation, CMC's leading technology experts across all four divisions are ready to provide consulting services and AI technology solutions "made by CMC" and from our partners to our clients. Some typical products include: C-OCR: Successfully implemented for the Vietnam Social Security, the C-OCR project uses AI technology combined with optical character recognition (OCR) to extract information from documents and forms used in the insurance system across 63 provinces and cities. C-HR: In April 2024, CMC successfully launched a smart management and candidate information extraction solution for TH Group . Simultaneously, we are deploying a candidate search and recommendation system, and an AI chatbot for HR and legal departments for TH Group. C-LS: This AI software is designed to detect overlaps and conflicts in authority and validity in legal documents, helping to improve efficiency in the law-making process. C-OCR for the automotive industry: developed on order for a leading Japanese automotive manufacturer, it allows the extraction and linking of information about vehicle components from technical documents and drawings to a central data warehouse, helping businesses optimize information retrieval, manage component inventory, and save operating costs. AI infrastructure platform: CMC is proud to be one of the first telecommunications companies in Vietnam to provide AI infrastructure platforms for many well-known domestic and international corporations.

For over 31 years since its establishment, CMC Technology Group has actively invested in, researched, developed, and applied AI transformation solutions and technologies.

In its next phase of development, amidst ever-evolving technology and AI continuing to shape how businesses operate, what are CMC's strategic priorities? What role will AI play in this journey? CMC is proud to be one of the leading corporations in Vietnam in embracing the AI ​​wave and supporting the national digital transformation mission. At CMC, we recognize that AI is not just a trend, but a core element driving sustainable development and innovation within the enterprise. Our strategy begins with fostering an AI transformation culture internally, building a modern work environment within the company, and training high-quality human resources capable of adopting and applying AI technology in their daily work. This direction reflects CMC Group's commitment to continuously learning, improving, and applying the most advanced technologies. This allows us to deliver groundbreaking solutions that enhance efficiency, optimize business processes, and meet customer needs and expectations. CMC is committed to this revolutionary transformation, not only domestically but also globally. From 2024 onwards, CMC's focus will be on supporting businesses to maximize the benefits of digital transformation with AI technology. A highlight of CMC's products and services is the application of AI technologies to increase efficiency, innovation, and quality while saving time and costs in the long term. In line with our strategic direction, the AI-powered management platforms developed by the CMC ATI Institute will become increasingly sophisticated, providing enhanced monitoring and responsiveness to the growing risks of cybersecurity and data security. Compared to other companies in Vietnam, CMC is recognized as one of the leading technology companies. However, compared to large companies worldwide, we are still at an average level. My biggest concern is how to elevate CMC to an international level. This requires us to develop the company to a sufficiently large scale (10,000-15,000 people), with global influence (providing products and services used worldwide), and to strengthen our presence in more countries with products and services based on Vietnamese intelligence. AI technology is a field well-suited to the capabilities of Vietnamese people and CMC, and this is also a key focus for CMC in the coming period.

"AI-X is the process of applying AI technology to comprehensively change how all sectors of society operate and interact, from government and businesses to people's lives. The goal of AI-X is to leverage the potential of AI technology to improve efficiency, increase value, create a digital economy, enhance the quality of life, and promote sustainable and green development." Chairman Nguyen Trung Chinh stated regarding AI-X.

Source: https://nhipsongkinhte.toquoc.vn/cmc-tien-phong-trong-chuyen-doi-ai-20240821172349699.htm