Businesses apply AI to escape the 'safe zone'

DNVN – According to Mr. Le Hong Viet - General Director of FPT Smart Cloud, artificial intelligence (AI) will play an important role in increasing labor productivity and improving customer experience. Vietnamese enterprises can escape their comfort zone and explore new business areas thanks to AI applications.

Potential for sustainable development

At the workshop "Opportunities and challenges in the new context - What should businesses do?" on October 18 in Hanoi, economic expert Can Van Luc commented that Vietnam is facing many opportunities for outstanding economic development. The macroeconomic environment is stable, economic growth is expected to reach 6.5% in the 2025-2030 period, inflation is controlled and per capita income has increased significantly. This helps Vietnam have a GDP among the highest in ASEAN.

Deep international integration with 16 new-generation free trade agreements (FTAs) and comprehensive strategic partnerships with eight leading countries in the world has increasingly enhanced Vietnam's international position. Vietnam also takes advantage of its favorable geographical location to develop trade and investment. The Government's determination to develop the economy in conjunction with fighting corruption and waste also creates a transparent and stable business environment.

Economist Can Van Luc.

In addition, the development trends of digital economy, green economy, circular economy and energy transition are potential areas that Vietnamese enterprises can take advantage of. Vietnam's digital economic growth rate is forecast to reach 20% per year in the period 2025-2030, showing the potential for sustainable development in the future.

However, in addition to opportunities, according to expert Can Van Luc, Vietnamese enterprises also face many challenges. Risks from external fluctuations are still latent, while the overall resilience of the economy is still at a low average level (ranked 109/130 in the world and 7/9 in the ASEAN region). In addition, Vietnam's growth model has not yet seen many innovations.

The need for investment in the green economy is huge, but current resources are limited. According to the World Bank (WB), Vietnam needs about 368 billion USD in the period 2022-2040 to develop the green economy, in order to achieve the goal of reducing net emissions to zero by 2050. In addition, Vietnamese businesses are also facing difficulties in the digital transformation process.

Mr. Nguyen Anh Duong - Head of General Research Department of Central Institute for Economic Management (CIEM).

Mr. Nguyen Anh Duong - Head of the General Research Department of the Central Institute for Economic Management (CIEM), commented that digital infrastructure is not yet synchronized and digital connectivity capacity is still low. Many businesses' awareness and skills in digital transformation are still limited, especially in paperless trade and online trade dispute resolution.

Need breakthrough solutions

Faced with these challenges, experts have proposed many solutions for both the Government and businesses.

Mr. Can Van Luc suggested that the Government should complete the policy framework and sandbox mechanism to promote the development of digital economy, green economy, and circular economy. More attention should be paid to the development of financial markets, especially the corporate bond market, stock market, and investment funds.

In addition, the establishment of the Green Growth Fund will help attract investment capital from both the public and private sectors.

Mr. Luc also emphasized the need for breakthrough solutions to develop human resources and high technology, especially in areas such as AI, cybersecurity, and semiconductor technology.

FPT Smart Cloud General Director emphasizes the role of AI in business operations.

On the business side, Mr. Nguyen Anh Duong encouraged them to proactively grasp the digital transformation trend and take advantage of support policies on taxes, fees and interest rates. Businesses need to integrate ESG (environmental, social and governance) factors into their business strategies, develop a circular economy and seek financial mobilization options for green transformations.

Meanwhile, Mr. Le Hong Viet - General Director of FPT Smart Cloud said that artificial intelligence (AI) will play an important role in improving labor productivity and customer experience. According to IBM's report, AI has helped 35% of businesses increase revenue by at least 5%, and this technology promises to create a revolution in labor productivity, shorten the speed of decision making and improve customer experience in Vietnamese businesses.

Vietnamese businesses can escape their comfort zone and explore new business areas thanks to AI applications.

In addition, Generative AI (GenAI) promises to revolutionize labor productivity in every business. According to experts, GenAI will be the market driver and core competitive advantage of businesses in the digital age.

Experts agree that, in order to develop sustainably, businesses need to proactively innovate in management, apply technology and seize opportunities from new economic trends. The combination of business efforts and government support policies will be the key to helping Vietnam overcome challenges and achieve great success in the future.

Moonlight

Source: https://doanhnghiepvn.vn/chuyen-doi-so/kinh-te-so/doanh-nghiep-ung-dung-ai-de-thoat-khoi-vung-an-toan/20241018100430535