Vietnam is poised to become a leader in artificial intelligence (AI) innovation in Southeast Asia, was the consensus at the GenAI Summit 2024 in Ho Chi Minh City. Vietnam’s unique position to spearhead AI advancements in the region, emphasises the need for a collective effort among universities, businesses, and government bodies to build a robust AI ecosystem. This collaborative approach will be crucial for addressing emerging challenges and capitalising on opportunities in AI, ultimately positioning Vietnam as a key player in the global AI landscape.
The Generative AI Summit 2024, themed ‘Uncharted Frontiers,’ was held for the first time in Vietnam and explored leading trends and developments in AI. The event attracted over 1,000 attendees, including top AI experts and researchers. It also served as a forum for examining Vietnam’s potential and challenges in emerging as a global AI leader.
The summit addressed three key topics: “Foundational Models of GenAI,” which examined the advanced technologies underlying Large Language Models (LLMs); “Practical Applications of GenAI,” highlighting its transformative impact on healthcare, education, and social life; and “Opportunities for Vietnam,” which focused on how GenAI could influence the country’s technological and economic development.
To transform Vietnam into a global AI hub, a concerted effort is required. The country faces the challenge of meeting a projected need for 100,000 additional AI professionals over the next five years to keep pace with growing market demand. This demand underscores the importance of collaborative efforts to foster a thriving AI landscape.
Nguyen Thanh Hung, Chairman of Sovico Group’s Founding Committee, highlighted that AI is integral to their innovation efforts, being utilised across various business operations such as maintenance, business optimisation, customer support, fleet management, and technical inspections.
Nguyen Thi Bich Ngoc, Deputy Minister of Planning and Investment, underscored the Vietnamese government’s recognition of AI’s significance, noting several policies to promote its research and application.
The government is proposing a project to develop at least 5,000 engineers with advanced AI expertise by 2030. Additionally, the National Innovation Center (NIC) is tasked with establishing a centre for AI training, research, and application, aiming to train 7,000 AI experts and support around 500 AI startups by 2030.
The recent GenAI Summit, the first of its kind in Vietnam, was organised by the New Turing Institute and Rethink Healthcare Foundation. It attracted 1,000 attendees, including top AI experts and researchers, focusing on foundational models, practical applications, and opportunities for Vietnam.
Experts point out that while Vietnam benefits from favourable market conditions, a dynamic startup ecosystem, and a wealth of human resources, it must address challenges related to low labour costs and the need for enhanced investment in AI education and training.
Vietnam’s favourable market conditions, including a strong educational foundation in mathematics and science, position it well for AI development. The country’s students have consistently excelled in international mathematics competitions, showcasing the logical thinking and problem-solving skills critical for advancing AI technologies. Furthermore, Vietnam’s dynamic startup ecosystem, which attracted over $1 billion in investments in 2023, is rapidly growing and now rivals that of more established markets such as Singapore and Malaysia.
The Vietnamese government has implemented various policies to stimulate investment in technology and support startups, creating an environment conducive to AI innovation. These initiatives aim to enhance the country’s competitiveness in the global AI landscape. Experts believe that strengthening these efforts and investing in comprehensive AI education will be crucial in developing a high-quality workforce and maintaining momentum in the rapidly evolving AI sector.
As Vietnam continues to build on its strengths and address existing challenges, it is well-positioned to lead AI innovation in Southeast Asia, driving advancements that will shape the future of technology in the region.
