Financing Southeast Asia’s energy transition
The energy transition is bringing forth new challenges, particularly in refining financial systems.
While some jobs are expected to be replaced by emerging AI applications, the technology is broadly seen as a catalyst for positive transformation in the workforce.
Last month, Jensen Huang, founder and CEO of Nvidia – the global leader in artificial intelligence (AI) – visited Vietnam, followed by a series of significant collaboration announcements.
The visit marked not only a promising year for Vietnam's foreign direct investment but also underscored the growing influence of AI research, development, and applications in Vietnam.
Nvidia signed agreements with the Vietnamese government to establish an AI Research and Development Center and an AI Data Center in the country. These facilities aim to play a pivotal role in supporting AI research and application initiatives, while fostering innovation and entrepreneurship.
The developments are expected to create more opportunities for local talent and align Vietnam with global trends in the rapidly advancing AI landscape.
Vietnam has always been quick to adopt new technologies, and AI is no exception. The growth here is very fast. You can see this in the increasing number of startups focusing on AI-based products. At the same time, many traditional companies are adding AI features to their existing product lines to stay competitive.
We also notice service companies offering AI-related solutions, like maturity assessments for organizations and specialized training programs. It's a sign of how seriously businesses are embracing AI.
The Cisco AI Readiness Index 2024 also shows positive movements in Vietnam, while 95 per cent of organizations already having a robust AI strategy in place or in the process of developing one. Around 38 per cent of respondents in Vietnam saying AI deployment has been given the highest priority for budget allocation and incremental budget funding.
Across industries, AI adoption is expanding. For example, in retail and manufacturing, companies use computer vision for predictive maintenance or supply chain automation.
In e-commerce and banking, AI-powered chatbots are enhancing customer support, and anomaly detection systems are making operations more secure. The number of use cases is growing constantly, making it clear that Vietnam is becoming a key player in AI adoption.
As for the job market, we can't predict everything with precision, but we can make some educated guesses. Front-office jobs, for example, will likely be impacted because AI will make it possible to automate customer interactions quickly and accurately. This automation will also be highly personalized, which will improve customer experiences but reduce the need for human intervention in some cases.
What these industries share is their reliance on data. AI thrives on data—it needs it to analyze, optimize, and make predictions. Any industry with access to large amounts of data can benefit significantly from AI.
At Kyanon, we’re developing AI solutions across three key areas, including computer vision; large language models used for things like optimizing meetings and creating advanced chatbots that improve communication and efficiency; and predictive analytics.
These developments have increased the demand for skilled professionals. We’re hiring more data scientists, machine learning engineers, and software developers. There’s also a need for business analysts and domain specialists who can connect AI technology to practical business use cases.
AI is going to transform jobs in many positive ways. First, it makes it easier for people to learn new skills. For instance, AI-powered training programs can be tailored to individual needs, helping employees upskill faster.
It also reduces errors in tasks that require precision, like drafting contracts or analyzing large datasets. This means workers can focus more on strategic and creative aspects of their jobs.
Moreover, AI will create entirely new roles – like AI trainers, explain ability specialists, and ethical AI advisors. These roles will ensure AI systems are well-maintained, transparent, and aligned with ethical standards.
In creative industries, AI will assist by taking care of time-consuming tasks, such as editing videos or designing templates, giving people more time to focus on innovation.
So, while some jobs will change, many new opportunities will emerge, and AI will ultimately make work more efficient and rewarding.
Vietnam has an amazing opportunity to position itself as a tech hub in the region. There is a huge demand for professionals in the AI space, and this demand will only grow.
We need data engineers to build pipelines, data scientists to create and test models, data analysts to make sense of the results, and cybersecurity experts to ensure data and AI systems are secure. Business analysts and legal advisors are also crucial to ensure compliance with business requirements and legal regulations.
However, there are challenges. One big issue is the skill gap. While Vietnam has many talented professionals, not all of them have the deep expertise required for advanced AI roles.
Another challenge is access to quality data – many companies struggle with collecting and managing the data needed for AI. Finally, infrastructure is a barrier, especially for smaller businesses that may not have the resources to adopt AI.
To overcome these challenges, we need to focus on education and training. Universities and training centers should offer specialized AI courses. The government can also play a role by incentivizing businesses to invest in AI and creating frameworks for data sharing. Collaboration between startups, larger companies, and research institutions can drive innovation and help us close the gaps.
With the right strategy, Vietnam can become a leader in AI innovation and create countless opportunities for its workforce.
*The article expresses the views of David Lapetina, Vice President Engineering & Technology at Kyanon Digital - a one-stop digital services house
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