Vietnamese businesses gradually move deeper into AI applications

Not only using ChatGPT to compose emails, correct spelling or do math like in the previous stage, the application of artificial intelligence (AI) in Vietnamese businesses is gradually becoming more professional.

To find out if the crickets are stressed, Cricket One - the largest cricket protein producer in Southeast Asia with a farm in Binh Phuoc - started looking into using artificial intelligence (AI) in 2019. The company invested in a startup project to develop an AI platform for raising these insects.

The platform has been tested by the company since 2020 at its largest farm. Co-founder and Business Development Director Nguyen Hong Ngoc Bich (Bicky Nguyen) said the platform is in the machine learning phase and gives quite accurate warning recommendations.

"We measure cricket density through their vertical and horizontal movement behavior. Parameters about living conditions help the company research deeply, understand and make less emotional decisions about cricket care than before," Ms. Bich said, adding that AI is extremely useful for the livestock industry in the future.

Mr. Ngo Trong Nghia, Founder and CEO of Neo Development, told the story of using the company's AI assistant in Ho Chi Minh City on March 11, at the event of the Alibaba wholesale platform. Photo: Thuc Van

Neo Development also uses AI to digitize the export of its nail tools through Alibaba's wholesale platform. The tool is called Smart Assistant.

Neo Development CEO Ngo Trong Nghia said that the AI ​​assistant helps him provide market analysis information, respond to buyers in their language, or compose product descriptions with standard customer-attracting formulas and professional marketing graphics.

“It doesn’t require a raise, coffee, or sleep, but responding to hundreds of customers at the same time, while I deal with 10 people a day, is too much,” he said. Neo Development estimates that the AI ​​tool helps free up 40% of time and resources. The company currently receives 3-4 export orders through Alibaba every month.

The trade and service sectors in Vietnam have also recently been actively applying GenAI. A study recently published by payment technology company Visa shows that many retailers are actively applying it to bring new shopping experiences to users, thereby boosting revenue.

This positivity comes from the fact that up to 86% of customers surveyed in Vietnam said they have heard of GenAI applications in retail. The main reasons it is supported are showing where to get good prices, searching and providing product information, quick shopping summaries and suggestions, as well as supporting new trend advice.

"Retailers are offering products that are closer to personalized needs and behind it are GenAI applications," said Ms. Dang Tuyet Dung, Visa Country Manager for Vietnam and Laos.

Mr. Bui Hai Hung, founder and CEO of VinAI, spoke at an event in Ho Chi Minh City on March 14. Photo: Bloomberg Businessweek Vietnam

In fact, AI has been discussed since the 1950s of the last century, but it was not until OpenAI's ChatGPT platform was launched that the world really witnessed an explosion. Since then, artificial intelligence has gradually become familiar to businesses and users.

Mr. Bui Hai Hung, founder and CEO of VinAI ( VinGroup ), said that this technology has developed to the point where machines can create marketing content, images, communicate very well, and even program themselves.

"AI will completely change the way we do business in the future. But decision makers do not fully understand its impact, the technology behind it and how to apply it," Mr. Hung commented at a recent conference.

According to a study published earlier this year by PwC (one of the world’s top 4 auditing firms), 41% of CEOs in the Asia-Pacific region (including a survey in Vietnam) admitted that they have not applied GenAI in their companies in the past 12 months. But many CEOs are optimistic about the prospects of this technology in the next year. More than two-thirds predict that GenAI will significantly impact their companies, workers and markets in the next 3 years.

This auditing firm recommends that businesses review their strategies and position GenAI as playing a role in governance, operational capacity, and speed of bringing products and services to market. Along with that, there should be a strategy on labor.

But GenAI also has its downsides when it comes to businesses adopting it. When assessing the risks associated with GenAI, PwC said Asia-Pacific CEOs are concerned about increased cybersecurity risks (49%) and the spread of misinformation (44%).

Ms. Dang Tuyet Dung raised the issue of "data ethics", when some users are not really comfortable with organizations collecting their data for use in AI. "Therefore, the issue of data ethics must be committed, and Vietnam's legal framework also needs to be more detailed and clear," Ms. Dung said.

Mr. Bui Hai Hung also assessed that the main barrier of AI, besides cost, is the concern about data security and energy consumption. For example, an AI-generated photo will consume the same amount of electricity as a phone battery. The above weaknesses of AI are expected to gradually improve as technology advances.

However, this CEO is still optimistic, because "with additional AI tools, work efficiency will improve a lot."

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