Participants at the conference named Intelligence Transformation in Viet Nam: Fad or Fab? held in Ha Noi on Wednesday. — VNS Photo Thu Giang

The Vietnam Frontier Summit (VFS) 2019 will take place in Ha Noi on October 6, with 40 leading experts from domestic and international Artificial Intelligence (AI) firms expected to attend.

The summit is organised by rubikAI and VTV24, with the theme 'Intelligence in Motion'.

The details were announced at the 'Intelligence Transformation in Viet Nam: Fad or Fab?' conference in Ha Noi on Wednesday.

At the conference, AI experts said Viet Nam is a potential market for regional AI businesses, however it is facing both human resources and technology barriers.

Founder of Nami Assistant (a financial investment support firm) Giap Van Dai said for intellectual transformation in the enterprise, in addition to applying technology to the governance and operation, innovative thinking is needed from both leaders and employees.

“In Viet Nam, most CEOs always think that they are decision makers. However, in fact we will gain wonderful results when we dare to give this part to the machines,” Dai said.

Nguyen Viet Tien, Teko Vietnam Technology Director, said technology enterprises and start-ups will be able to adapt faster because they have available human resources and think about technology. As for other businesses, they will have to spend more money on IT staff, while the CEO will need a certain level of tech knowledge before making a decision to convert everything.

“An important thing is that we have to know how to use and utilise data to optimise the performance of existing business models and develop new business models,” Tien said.

He said the founders or CEOs must know their problem and their business, as well as have a clear goal.

“For example, how to cut costs but still increase the number of users and customers for the business. At first, it may sound unreasonable, but the conversion will help businesses cut a significant cost," Tien said. — VNS