Embracing The Future: How Your Business Can Thrive With AI

Artificial Intelligence (AI) is no longer just a buzzword; it’s a driving force behind economic growth and innovation. Southeast Asia is witnessing a surge in AI interest and investment, albeit in the initial stages. The advent of Industry 4.0 has accelerated the need to adopt AI to future-proof economies.

In Vietnam, AI’s potential is evident, but it’s essential to understand that AI adoption is a journey that begins with recognition.

Indeed, Southeast Asia, including Vietnam, is on the cusp of an AI revolution. Businesses willing to invest, educate their teams, and strategically incorporate AI into their operations can position themselves as leaders in this transformative landscape. While the journey has just begun, the potential for growth, efficiency, and innovation is boundless. Unlocking AI’s potential is not just a choice but a necessity for businesses looking to thrive in the future.

Understanding the AI Landscape in Southeast Asia

Approximately 80% of the region finds itself in the early stages of AI exploration, according to a Kearney-EDBI artificial intelligence study. Businesses and countries are just beginning to explore AI’s capabilities, like students taking their first steps into a new field of study.

However, this early stage isn’t uniform; it has different facets:

• A small percentage (about 2% for Southeast Asian nations and 0% for Vietnam) is yet to express substantial interest in AI investment, essentially watching from the sidelines.
• The majority (roughly 83% of Southeast Asian nations) is actively engaging with AI, with subsets keen to invest and develop AI strategies (27%) and those piloting AI initiatives in specific areas (56%).
• A smaller group (about 15% of Southeast Asian nations) has made more advanced strides, either by scaling up AI projects across various aspects of their operations (9%) or fully integrating AI into their daily business practices (6%).

Practical Steps to Leverage AI in Your Business

The current state of AI adoption in Southeast Asia, with most businesses still in the early stages, presents a mix of opportunities and challenges. For businesses, especially those operating in Vietnam, it’s essential to navigate this landscape wisely.

Start with Education and Awareness

Begin by educating your team about AI and its potential benefits. AI is a powerful tool, but understanding how it can be applied to your specific industry and operations is crucial.

Strategic Planning

Develop a well-thought-out AI strategy tailored to your business objectives. Consider where AI can enhance efficiency, improve customer experiences, or provide valuable insights.

Invest Wisely

While AI adoption is on the rise, most businesses in Southeast Asia, including Vietnam, are dedicating a minimal portion of their revenues to AI solutions. To harness the full potential of AI, consider increasing your investment in AI projects.

Talent Development

Address the AI talent gap by upskilling your existing workforce. Encourage your team to embrace AI-related roles, such as data preparation, visualization, and management. Collaborate with technology partners to deploy AI solutions effectively.

Innovation and Experimentation

Southeast Asia is a playground for AI experimentation. Explore various AI applications within your operations, from automating routine tasks to enhancing customer interactions.

Competitive Advantage

Embracing AI early can give you a competitive advantage in the market. Tech-savvy customers and partners are more likely to appreciate innovation and efficiency.

Continuous Learning

AI is a dynamic field. Stay updated with AI developments and trends to remain competitive and innovative.