GPT Chat is like the starting signal for the AI race.

The above information was shared by Mr. Le Hong Viet, General Director of FPT Smart Cloud (a member of FPT Corporation) at the discussion session "New challenges - new opportunities" within the framework of the 2023 Business Forum with the theme "Innovating growth models", organized by Forbes Vietnam.

“GPT Chat is considered the starting signal for the race to effectively apply artificial intelligence (AI). FPT currently has research projects related to large language models (LLM) and natural language processing (NLP) to increase the accuracy of AI. For example, in the customer care service sector, the company's AI application helps support nearly 10 million customers/month with an accuracy of 96-98%,” Mr. Viet shared.

Regarding the story of overcoming challenges to find new opportunities for future growth, in the role of a technology company, Mr. Viet affirmed that FPT is always ready to accompany businesses to help improve labor productivity and innovate growth models quickly and flexibly based on new technology application systems such as Cloud and AI.

At the same time, Mr. Viet also advises on how to help businesses transform digitally and apply technology solutions effectively in management, operations, and business.

According to Mr. Viet, first of all, businesses need to clearly understand that digital transformation consists of three important factors: technology transformation, technology-based business model transformation, and human transformation, from the awareness of leaders to employees.

Next, an indispensable factor is that digital transformation must originate from the needs of functional departments to promote demand and create changes to solve the problems of each department.

And finally, regarding the investment cost factor when converting to digital, Mr. Viet suggests that businesses can use solutions in the direction of renting, purchasing services and paying by the "pay as you go" method to have a suitable spending level.

Also within the framework of the 2023 Business Forum, Mr. Viet represented FPT Corporation to receive the award for Top 50 best listed companies in 2023. This is the 11th year that Forbes Vietnam has evaluated and released this list, and FPT is one of the few businesses that has continuously appeared in the rankings.

According to the Organizing Committee, the enterprises in the list of Top 50 best listed companies are the most elite enterprises of the economy in 2023 and brought in total profit after tax of VND 228,096 billion, up 18% and total revenue of VND 1,490,453 billion, up 24.9% compared to 2022.

“2022 also marked the brightest point in FPT’s development history: new IT service revenue signed with foreign markets reached 1 billion USD, up nearly 40% compared to the previous year. Digital transformation service revenue also increased sharply by 33%, reaching 7,349 billion VND. FPT aims to reach 1 million domestic customers and benefit from the government’s disbursement of investment in digital transformation of public projects,” Forbes Vietnam wrote.

In the first 7 months of 2023, FPT's business activities continued to show positive signs. Revenue reached VND 28,429 billion, up 22.4% over the same period in 2022. Pre-tax profit reached VND 5,069 billion, up 19.5% over the same period.

In 2023, FPT expects to achieve a revenue growth target of 18.8% and a profit growth of 18.2%. At the same time, the group also sets a new mission, becoming a Happiness Creation organization. Accordingly, FPT will continue to make continuous efforts to build Vietnam into a happy digital country with a government operating on digital data, people's needs are understood, convenient service is provided, all businesses are accompanied and optimally developed.

Forbes Vietnam's rankings are based on the audited consolidated financial statements of companies listed on the Ho Chi Minh City Stock Exchange (HSX) and the Hanoi Stock Exchange (HNX). In the preliminary round, companies must meet the following conditions: making a profit in 2022, with revenue and capitalization of at least VND500 billion.

In the next round, companies are quantitatively scored on five criteria: compound growth rate of revenue, profit, ROE, ROC and EPS growth in the period of 2018 - 2022. Next, Forbes Vietnam conducts a qualitative survey to assess the sustainable development of the business: the company's position in the industry, source of profit, quality of corporate governance, industry prospects... Capitalization is finalized on May 30, 2023. The data used for calculation is the audited consolidated financial statements of 2022.

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