Vietnam is emerging as a promising bright spot on the global AI map, not only because of strong support policies from the Government but also because of an intrinsic and core factor: a strong entrepreneurial spirit.
This is the opinion of Mr. Marc Woo, Managing Director of Google Vietnam, when sharing the reasons why this giant increasingly trusts and increases investment in the Vietnamese market.
Driving force for AI development in Vietnam
At the event announcing initiatives to promote AI startups and popularize AI knowledge to the community (June 18) organized by the National Innovation Center (NIC) and Google, Mr. Woo pointed out that the passion, boldness and desire for innovation of the Vietnamese startup community are the main driving forces behind the rapid development of AI technology.
"By the end of 2023, Vietnam's startup ecosystem had grown to about 4,000 companies. This number is competitive enough with ecosystems of more developed and established countries," said Mr. Marc Woo, emphasizing that these are not just dry numbers but also reflect a strong transformation and aspiration to rise up of the young generation of entrepreneurs.
According to Mr. Woo, openness, curiosity and willingness to experiment with new technologies have created a favorable environment for AI to take root and develop.
This dynamism is well documented and Mr. Woo shared that Google has noticed that Vietnamese startups are embracing AI very quickly. Just three years ago, there were about 60 startups in Vietnam operating in the field of artificial intelligence, but by last year, that number had increased to 280. This exponential growth shows that Vietnamese businesses are not only embracing the trend but also proactively seeking opportunities from AI.
Not only stopping at the startup community, the excitement about AI has also spread widely among the people. According to Mr. Woo, Vietnamese people in general are also quickly adopting AI. A recent study showed that more than 70% of respondents use AI tools at work. This rapid popularity shows that AI is no longer a distant concept but has become a useful tool, contributing to improving work efficiency and the quality of life of people.
In addition to the entrepreneurial spirit, the economic potential that AI brings is also an important factor attracting investment. Mr. Marc Woo believes that the harmonious combination of dynamic entrepreneurial spirit, enthusiastic reception from users and strong support from the Government has created a solid foundation, giving Google the confidence to continue investing and expanding its operations in Vietnam.
A Google representative said that to fully exploit the potential of AI, the whole community needs to join hands. Therefore, Google's vision is to focus on building practical AI solutions that serve the needs of Vietnam, connect businesses, improve people's lives and promote economic growth.
“We look forward to working with the Government and are very proud of our partnership with the National Innovation Centre (NIC). We also want to work closely with policymakers to ensure that we maximise the positive impact of AI, in line with the national AI strategy. To achieve this AI mission, we want to ensure that first and foremost, the talent, workforce and students in Vietnam are equipped with the right knowledge and tools,” said Mr. Woo.
However, Mr. Marc Woo also emphasized that the measure of success is not only in numbers but also in stories of change, transformation and belief in Vietnam's potential, especially with the power of AI.
Huge economic opportunity
Sharing the same opinion about the potential of the Vietnamese market, Mr. Thye Yeow Bok, Director of Startup Ecosystem for Southeast Asia, South Asia and China, Google Asia- Pacific shared about the technology landscape and startup ecosystem.
According to Mr. Thye Yeow Bok, Vietnam's technology startup ecosystem is booming. It is the leading innovation hub in ASEAN with more than 4,000 startups, including three companies with valuations of more than 1 billion USD. This growth is a testament to the fact that Vietnam is not only keeping up but also leading the region. Specifically, the strong growth over the past 7 years with a double-digit digital economy and an impressive internet penetration of 79.1% with about 78 million users. The digital economy is expected to reach about 45 billion USD by 2025, in which e-commerce, Fintech and software development are the key contributors to this growth.
“The Vietnamese government is actively supporting this growth with initiatives such as special tax exemptions and efforts to promote national digitalization and cashless transactions,” Mr. Bok noted.
According to Mr. Bok, Vietnam has identified AI as a key technology for the country's development and launched a national strategy on research, development and application of AI to make the country one of the leading countries in AI in ASEAN and globally by 2030. Vietnam's AI market is also showing impressive growth figures, valued at about 470 million USD in 2022 and expected to reach about 1.52 billion USD in 2030 with an impressive growth rate of nearly 16% annually. In addition, private investments in AI startups have also skyrocketed, showing the attractiveness of this market.
According to this expert, Vietnam is ranked as the second fastest growing market in the region for AI startups.
“The importance of AI in driving Vietnam’s economy cannot be overlooked. The government has identified AI as a cornerstone for national development with a national AI strategy that aims to make Vietnam an innovation hub for AI solutions in ASEAN by 2030,” said Mr. Bok.
On that basis, Mr. Bok said that Google is committed to supporting skill enhancement and promoting Vietnamese startups through two new breakthrough programs (Google for Startup AI Bootcamp in Ho Chi Minh City and Google Startup AI Solution Lab in Da Nang) designed to provide necessary knowledge, skills and resources for startups. The programs focus on technical training, including important contents on AI security, AI principles, infrastructure simplification and development tools. In addition, he emphasized that close cooperation with the National Innovation Center is an important part of Google's strategy./.
Source: https://www.vietnamplus.vn/thi-truong-ai-cua-viet-nam-du-kien-dat-khoang-152-ty-usd-vao-nam-2030-post1044929.vnp
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