Data management is a challenge for humanity amid Industry 4.0 era. If data is controlled, firms can develop well, but if it is otherwise, the impacts could be disastrous.

Experts made the warning at a conference titled ‘Data Management – The new challenge beyond the Industry 4.0’, held by Orchestra Network Viet Nam and Smart-Up in Ha Noi on Thursday.

The event provided businesses with information about data management and the application of new technologies including artificial interllegence (AI), blockchain and Internet of Things (IoT) in corporate governance.

Pierre Bonnet, chief operating officer (COO) of Orchestra Networks and chief executive officer (CEO) of Orchestra Networks Viet Nam, said data knew more about us than we knew about data and had grown so fast we were struggling to keep up with that process.

If used properly, data could enhance human intelligence, however, it would have an unfortunate side in case of weak data management, he said.

Dr Nguyen Xuan Hoai, co-founder and director of AI Academy Viet Nam, said that AI existed in every corner of human life, it could change business, optimise all information or substitute humans in many areas.

When there was a lot of quality data, businesses would succeed, Hoai said.

If the data was not of high quality, it might cause errors for AI, said Hoai.

Bonnet also noted that humans must manage data because failing to do so would be the same as not managing your business.

There would be bad data and fake data, which needed to be analysed and controlled. If businesses were not able to control data, it was likely to cause negative issues, he said.

According to technology experts, the current problem of Industry 4.0 was that it was very difficult to manage data and links between data and humans.

Management agencies and businesses should pay special attention to this issue, said experts.

To encourage sustainable development, politicians and senior managers must be aware of the information system. The prosperity of a business depends on the ability to manage information as a real asset, heard the conference. — VNS