Discussions forcused on AI-driven innovation

Mr. Pham Huynh Quang Hieu, Deputy Director, Ho Chi Minh City Department of Science and Technology

Data is regarded as a “new strategic asset” in the digital era, determining the competitiveness not only of individual businesses but also of a national economy. This vast volume of data is continuously generated through everyday transactions, interactions, and digital experiences. At the same time, the explosive development of AI is providing tools to refine this data, transforming isolated numbers into actionable knowledge, thereby creating economic value and unprecedented innovation potential.

If data was to be viewed as a raw material, AI is the crafting tool. The key challenge is turning data into deep customer insights, building a bridge that converts data and AI into tangible profits. When these three elements converge, businesses not only understand latent customer needs but can also personalize products, optimize costs and resources, and, in the longer term, build trust and lasting customer loyalty.

In practice, many pioneering companies have demonstrated the effectiveness of data and AI. In the banking sector, these technologies help analyze transactions, detect fraud, and design tailored credit packages for individual customers. In retail, data and AI are applied to optimize in-store product placement, manage inventory efficiently, and increase revenue. These success stories confirm that data, AI, and “customer understanding” are not abstract concepts but direct levers that deliver concrete business benefits.

However, to fully harness this potential, companies need a long-term strategic vision. First, they must build a modern AI ecosystem that spans the entire value chain. Next, they should invest in people, from data and AI experts to equipping all employees with digital skills.

At the same time, businesses must ensure sustainable and responsible development: complying with laws, maintaining transparency in AI operations, and, especially, protecting customer privacy.

Data and AI are opening a new era, where companies that know how to leverage them will gain a superior competitive advantage, driving breakthroughs on the path to sustainable growth.

Mr. Nguyen Hoang Viet, Managing Director, SAP Vietnam

When it comes to the foundational factors that enable sustainable business growth, they can be summarized with three Ps: Policy (strategy), Platform (technology), and People (human resources).

Policy refers to the strategic direction set by company leadership. Where does the business want to go, which markets does it hope to enter, and what sectors will it engage in. All of these stem from “policy”.

Platform is the technology foundation that a company builds to operate effectively. Different industries require different platforms: an e-commerce startup needs a fast order-processing system; a service company needs a platform connecting customers and suppliers; and a manufacturing firm focuses on inventory and materials management systems.

Many people refer to human resources as “the team”. Organizing talent and empowering each individual to contribute value and transform data into actionable power is decisive.

From this perspective, every company, especially startups, can clearly identify what types of data they currently hold, what they lack, and where to prioritize investment to turn data into real profit. The key question for business leaders is not merely “Do we have data?” but rather “Which data is the most valuable asset, and how can we leverage it to achieve a sustainable competitive advantage?”

Mr. Le Hong Minh, Founder and Chairman, VNG

From a personal perspective, I believe business owners need to ask themselves: “How many people read and analyze their company’s financial reports deeply and professionally?”

A financial report - the most basic document every business has - is not just a few numbers like revenue or profit. Yet most companies, whether small, medium, or even larger, only grasp these surface-level figures. The real value lies in the ability to extract deeper insights and take action based on the essence of the data in the report.

Data processing capabilities do not necessarily have to start with big data or Excel files with tens of thousands of rows. What matters is beginning with the most fundamental elements, like financial reports, and truly mastering them. When we deeply understand this foundational data, we can make informed decisions and build a platform to develop higher-level data analysis capabilities.

This approach is also useful in human resources management. When hiring for critical positions, a leader’s competence not only lies in listening to reports but also in assessing whether the person truly understands the data in their field or is just speaking superficially. Only with the ability to analyze fundamental data can we distinguish between truly capable individuals and those who just sound impressive.

Mr. Desmon Phua, Head of Digital Platforms, Home Credit International

My main responsibility at Home Credit is to lead a data transformation process. The most important thing is not just collecting data, but turning it into practical value.

To achieve this, we focus on building a standardized data system that is accessible and usable at the right time and in the right way. Over the past year, in Vietnam, the Philippines, and Kazakhstan, Home Credit has implemented a fully cloud-based data platform. This not only helps us gain deeper operational insights but also allows us to apply unified data standards to improve the customer journey.

For example, with standardized data, we can identify the steps where customers face difficulties in accessing our services. Instead of merely guessing, we can measure, experiment, and monitor to pinpoint the exact “bottlenecks” and then design appropriate solutions.

Thanks to this approach, over the past year I have witnessed very clear transformations in the markets where Home Credit operates, particularly in Vietnam. This demonstrates the true power of data: it’s not just numbers, but a tool for improvement, experimentation, and delivering a better customer experience.

We have talked a lot about “data-driven decision making”. In Vietnam, this is entirely true: data helps us make better decisions. But alongside data, there is the human factor - opinions, intuition, and, especially, the individual choices of customers. Therefore, “data-driven” must go hand-in-hand with “customer-driven”. Data should only be collected and used when it truly serves the customer interest.

To achieve this, companies must establish a “safety railing” from the start: protecting customer data as a default operating principle. This means being transparent about purpose, properly obtaining and managing consent, limiting use to the declared purpose, minimizing data collection, anonymizing or pseudonymizing where possible, strictly controlling access, and continuously monitoring. If we focus only on collecting data without these principles, we generate a lot of “noise” and risks, both legal and in terms of trust, for the organization itself.

In summary: use data to understand and improve the customer experience, but start with protecting customer data. When data is used appropriately, at the right time, and responsibly, data-driven decisions truly create value.

Ms. Tran Phuong Nga, CEO, Thien Long Group

We are very excited to begin our journey of expanding into international markets - what we call globalization. The starting point is the strong brand we have built in Vietnam. From this domestic strength, Thien Long is now starting to move internationally, selecting the next key markets.

The question is: what role do data, AI, and technology play in this expansion process? In reality, our industry has a vast number of products, more than a thousand different items. Each year, Thien Long exports to dozens of countries, with an enormous quantity of products. The biggest challenge is knowing which products are truly important to invest in. Without the right identification, it would be very difficult to achieve our growth targets.

When investing in AI, we always ask: what problem will AI help solve? Our core problem is choosing the right products. To do this, we analyze customer behavior, especially on e-commerce platforms, and apply additional analytical tools. This allows us to clearly identify important consumption trends. For example, trends towards smooth ink writing or erasable pens will mean users are no longer afraid of making mistakes. Products that align with these trends have strong export potential and receive significant attention in international markets.

The challenge is that almost all companies in the industry are racing to launch new products. This forces Thien Long to hit the target precisely and avoid missteps. This is also why we heavily invest in data analysis technology in Da Nang and Ho Chi Minh City, leveraging domestic technology infrastructure to serve our global strategy. Thanks to this technology platform, decisions on investing in new products and selecting the right segments are much more accurate and faster.

Mr. Nguyen Thuong Tuong Minh, CEO, Base.vn

More than a decade ago, we commercialized the first AI products in Vietnam. Many early projects failed (such as simple chatbots) because they were just “for show” in communications. But from that experience, we learned an important lesson: AI only has value when deeply integrated with core operational processes.

Recently, Base.vn partnered with a large construction corporation. After analyzing the entire workflow, from bidding, equipment procurement, and project implementation to financial management, we realized that at least 50 per cent of tasks could involve AI agents. The first two AI agents will soon be officially tested in the bidding segment. This will be a milestone, helping reduce the time for processing applications, analyzing capabilities, and comparing documents; tasks that previously consumed significant resources.

Vietnamese businesses have undergone digital transformation: digitizing data and optimizing processes. The next stage will be AI transformation, which has three steps: AI Phase 1 - Awareness: input all data, USPs, and business processes into the AI system. AI Phase 2 - Integration: AI agents start operating directly within the company, from project management and sales to customer service. And AI Phase 3 - Reinvention (AI First Reinvention): AI becomes the “heart” of decision-making, operating the business based on data and forecasts, transforming the entire software architecture and management model.

AI technology has introduced two important new concepts: PAIR (People + AI in Relationships), where humans work with AI as collaborators, and PEER (AI as a Peer), where AI becomes a true colleague with agents handling specific tasks.

At the current stage, AI agents are the fastest way to deliver real profit. In the long term, when moving into the reinvention stage, PEER AI will multiply effectiveness and help businesses achieve breakthroughs.

AI is not just a technology; it brings tangible economic benefits. Any company that wants to go far must integrate AI into operations. There is no alternative.

If a company starts building an AI application roadmap, within a few weeks to a month it will already see noticeable results. Over a longer horizon, roughly a year, AI could handle up to 50 per cent of operational tasks. Beyond that, we can envision an Enterprise AI, where AI becomes an “invisible brain”, directly participating in management, analysis, and decision-making and guiding development.

However, as I have noted, AI is not a “magic wand”. Only when properly integrated into the operational core will it deliver real and sustainable profit. The sooner a company embarks on an AI-First journey, the faster it will gain a competitive advantage.