HANOI: Vietnam has emerged as a key player in the development of generative artificial intelligence (Gen AI), securing second place in Asean for the dynamism and growth of Gen AI startups, according to the Asean GenAI Start-up Report 2024.
This promising position reflects Vietnam’s significant potential, not just within the region but on a global scale, as highlighted by GenAI Fund partner Denning Tan at the Asean GenAI Start-up Report Launch Roadshow in Hanoi last week.
The event was hosted by GenAI Fund, the first South-East Asia-based Gen AI investment fund, in partnership with Amazon Web Services, Databricks and Vietnam’s National Innovation Centre (NIC).
It aimed to provide crucial insights into the rapidly evolving Gen AI ecosystem across South-East Asia.
Tan emphasised that the Asean GenAI Start-up Report 2024, based on surveys across six countries, outlines the trends, opportunities and resources shaping the future of Gen AI in the region.
The report surveyed 500 startups over three months, offering data-driven insights for startups, governments and businesses on how Gen AI technologies are transforming industries across Asean, with Vietnam emerging as a critical innovation hub.
“Vietnam is becoming an important Gen AI development hub in Asean,” Tan said.
He predicted that Vietnam’s share of Gen AI startups in the region would rise from 27% to 35%, moving closer to Singapore’s position.
Tan noted Vietnam’s advantages, including its skilled technical talent and culture of rapid product development.
“Our research indicates that Vietnam is well-positioned in the Gen AI space.
“The combination of government support, strong technical education and entrepreneurial spirit creates favourable conditions for Gen AI innovation in Vietnam.”
NIC deputy director Do Tien Thinh stressed the fundamental role of AI in the Fourth Industrial Revolution, which drives advancements in productivity, competitiveness and sustainable economic growth.
He noted that AI, particularly Gen AI, is breaking new ground, offering unprecedented possibilities for humanity.
AI is now applied across various sectors, from healthcare and education to manufacturing and agriculture.
The Vietnamese government recognises AI’s importance and has implemented several policies to promote its research, development and uses.
In line with this, the Ministry of Planning and Investment has submitted a proposal to the prime minister to develop a semiconductor workforce, aiming to have at least 5,000 engineers with AI expertise by 2030.
Additionally, the NIC has been tasked with establishing an AI-focused research and training centre, targeting the development of 7,000 AI experts and incubating 500 AI startups by 2030.
At the event, three pioneering Gen AI startups in Vietnam – Reforged Labs, Lex Engine and Laka.ai – showcased innovative applications.
Reforged Labs introduced Gen AI solutions for game marketeers, Lex Engine demonstrated Gen AI tools for the legal industry and Laka.ai presented its Gen AI-powered travel planning tool. — Viet Nam News/ANN
