Experts: Vietnam could be major market for artificial intelligence hinh anh 1 Vietnam can be confident of catching up if it adopts correct policies and measures for the Fourth Industrial Revolution (Photo:
Hanoi (VNA) - Although Vietnam is a relative late comer to the Fourth Industrial Revolution, it can be confident of catching up if it adopts correct policies and measures, Nguyen Anh Tuan, CEO of the Boston Global Forum, told the Vietnam CEO Summit in Hanoi on July 18.

“Vietnam is a big potential market for artificial intelligence (AI),” Tuan said, noting that the country’s population was nearing 100 million, many of them young people who could help Vietnam access high-quality technologies and new knowledge.

In addition, Vietnam’s consumption of new technologies has been relatively high, making the market attractive to high-tech investors, such as Google, Facebook, Apple and Samsung, according to Tuan.

On the other hand, Vietnam has big IT firms well-known in the world, including Viettel and FPT, which are seeking new markets in banking, healthcare, education and transport. Vietnam has been listed as one of the leading automation markets in the world.

“In the context of the Fourth Revolution, Vietnam should develop products with high added value to become a centre of high-tech, especially of AI, in the Southeast Asia region”, he added.

He suggested that Vietnam adopt preferential policies to encourage new AI products as well as facilitating the entry of American AI start-ups into the country.

Deputy Minister of Public Security, Nguyen Van Thanh, said the Fourth Industrial Revolution had brought changes, such as big data, smart cities, virtual currency, AI, renewable energy, robots and nano technology.

Thanh said local businesses should develop a vision and actions to adapt to the fast-moving revolution affecting their production, organizational structure and customer demands.

Associate Professor Vu Minh Khuong, a senior expert on economic development policy from the Lee Kuan Yew School of Public Policy said Vietnam had outstanding achievements over the past 10 years in terms of catching up with IT. The world and Southeast Asia had been impressed with Vietnam’s achievements, he said, noting that the country had quickly integrated into the world despite of the low income of many of its residents.

Professor Fredmund Malik, chairman of the Malik Institute for Complexity Management, Governance and Leadership, spoke of successful management models and measures which had been applied in the world’s leading groups.

The Vietnam CEO Summit 2017 attracted the participation of more than 400 Vietnamese businesses from the country’s 500 biggest firms (VNR500), top 500 fastest developing firms (FAST 500), Best Prospect 500 and Top 1,000 biggest tax payers.

Vu Dang Vinh, general director of the Vietnam Report that organised the conference, said the event aimed to connect business leaders, specialists on Vietnam and international partners to exchange experiences, discuss the development of the local market and how to better integrate it into the global market.

During the event, Vietnam Report honoured the top 10 commercial banks and top 10 insurance companies in the country.-VNA