Artificial intelligence (AI) and big data are both opportunities and challenges for businesses in the Internet of Things (IoT) era, a forum entitled “Artificial intelligence and Image Data Analytics untapped potential for businesses” held on March 1 in Ho Chi Minh City heard.

Understanding and building a data culture in businesses and re-establishing decision-making using data is an inevitable digital transformation trend when developing businesses, said Mr. Vo Tan Thanh, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI) in Ho Chi Minh City. However, the analysis of data using AI and big data has not been focused on or exploited to its full potential by businesses, especially image data.

The government recently issued the National Strategy on AI to 2030, with the goal of gradually turning Vietnam into an innovation center. The strategy aims to build ten reputable AI brands in the region and develop three national high-performance computing and large data centers.
Mr. Thanh affirmed that it was not until the issuance of the AI Strategy that Vietnamese enterprises developed the field. Large domestic technology corporations and innovative startups have been accelerating investment and making solid steps in AI research and application in many new business models.

Covid-19 has created difficulties and challenges but also opportunities for businesses to take advantage of and accelerate digital transformation, business restructuring, and management processes, in order to optimize operations for better transformation, Mr. Phi Anh Tuan, Chairman and CEO of PAT Consulting Ltd., said.

Other speakers shared their experience in the implementation of image data analysis as well as the benefits that data analysis brings, and discussed professional issues in fields such as manufacturing, retail, pharmaceuticals, real estate, and project management with experts.