Accordingly, Mr. Nguyen Manh Tuong, Vice Chairman of the Board of Directors - CEO of MoMo is the only representative of Vietnamese Fintech who has just attended a meeting with Mr. Jensen Huang, CEO of the world's leading technology corporation Nvidia at the National Innovation Center (Hanoi). The meeting is part of the visit and work of Nvidia CEO at the invitation of Prime Minister Pham Minh Chinh, chaired by Minister of Planning and Investment Nguyen Chi Dung.
MoMo CEO Nguyen Manh Tuong at the event
The meeting was also attended by state leaders and representatives of Vietnamese technology enterprises, which are also leading units in developing AI applications in Vietnam such as: MoMo, VietAI - Ohmnilabs, VinBigdata, VinAI, VNG and VNPay. The content of the meeting revolved around discussing potential cooperation ideas between Nvidia and Vietnam to promote the application of artificial intelligence and the semiconductor industry.
The meeting took place in the context of Vietnam's efforts to expand into the field of semiconductor chip design and production, developing advanced artificial intelligence products, marking an important step forward in the country's high technology. In 2022, Vietnam rose to 55th place in the world in the AI Readiness Index, up 7 places compared to the previous year, according to a report by Oxford Insights.
Speaking at the meeting with Nvidia CEO, Mr. Nguyen Manh Tuong, Vice Chairman of the Board of Directors - CEO of MoMo shared: "MoMo is the largest financial technology company in Vietnam, serving more than 30 million Vietnamese users and hundreds of thousands of small and medium-sized enterprises, micro-enterprises through the application of technology to help them access effective digital payment and financial solutions. We invested in AI 7 years ago (2016) and have a team of AI engineers of nearly 200 experts. We consider AI to be a game-changer and have made significant achievements in this field, contributing to creating a breakthrough in financial inclusion for Vietnam".
Nvidia CEO Jensen Huang just visited Vietnam
In addition, AI is also the "key" for MoMo to optimize user experience for financial services through features such as eKYC (online identification) and ChatBot. Specifically, with MoMo's eKYC, each user only takes 2-3 minutes to complete the process of opening a bank account right on MoMo easily and simply, thereby helping banking partners save 50% of the cost of opening an account in the traditional way.
Not only for users, AI also helps MoMo support small and medium enterprises (SMEs) or micro-enterprises (MSMEs) in Vietnam to digitally transform in the retail sector easily at low cost, while reaching more than 30 million existing users of the MoMo ecosystem.
When participating in "giving advice" for cooperation between Nvidia and Vietnam, Mr. Nguyen Manh Tuong proposed that the Vietnamese Government have preferential policies such as reducing investment costs through preferential loan packages, preferential import tax on equipment and services for AI, and reducing personal income tax for AI experts. According to Mr. Tuong, at the national level, when the Government invests in purchasing technology from leading global enterprises such as Nvidia and has a policy of sharing incentives for enterprises using AI in the long term, it will help improve financial and banking services in Vietnam, contributing to promoting digital transformation and the comprehensive development of the national economy.
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