On September 20, 2024, a report on ASEAN’s generative AI startups released in Hanoi revealed that Vietnam shows tremendous potential in the field of generative AI (GenAI) and is likely to become a development center for the Southeast Asian region.
Generative AI is one of the most prominent trends in the global tech sector. This technology primarily focuses on generating new content or data using existing data. On the afternoon of September 19, a comprehensive report analyzing the development of GenAI in Southeast Asia was officially released, providing deep insights into the GenAI ecosystem in the region.
The report was jointly completed by the Generative AI Fund in collaboration with Amazon Web Services, Databricks, and Vietnam’s National Innovation Center. The research covered six countries: Singapore, Vietnam, Thailand, Indonesia, Malaysia, and the Philippines. The main objectives of the report were to identify emerging trends, development plans, and challenges, while providing recommendations for future development directions for startups and enterprises.
The report specifically pointed out that Vietnam demonstrates enormous potential in the GenAI field and is likely to develop into a significant innovation center in the region. Experts predict that Vietnam’s contribution to Southeast Asia’s AI startup ecosystem will rise from the current 27% to 35%, a proportion approaching that of Singapore, which currently leads the region.
Vietnam’s advantages in the GenAI field are mainly reflected in the following aspects:
- Technical talent pool: Vietnam has a large number of high-quality technical talents, providing a solid human resource foundation for GenAI development.
- Product development culture: Vietnam has a proactive and innovative product development culture, conducive to the practical application and commercialization of GenAI technology.
- Government support: The Vietnamese government has given high priority and support to AI development, creating a favorable policy environment for GenAI growth.
- Business sector efforts: Vietnam’s business sector is actively investing in the GenAI field, making important contributions to driving innovation activities.
These factors collectively constitute favorable conditions for Vietnam’s development of GenAI, positioning Vietnam advantageously in the GenAI competition within Southeast Asia.
The report also emphasized that the rapid development of GenAI technology is changing the landscape of technological innovation in Southeast Asia. As an emerging tech powerhouse in the region, Vietnam is actively participating in this transformation and is expected to become a significant force in GenAI innovation in the coming years.
Denning Tan, General Manager of the Generative AI Fund, stated while introducing the report that it not only provides an important reference for understanding the current state of GenAI development in Southeast Asia but also offers valuable decision-making basis for investors, entrepreneurs, and policymakers.
As GenAI technology continues to develop and its application range expands, Vietnam’s prospects in this field are promising. Experts believe that if Vietnam can fully leverage its advantages and continue to strengthen efforts in talent cultivation, technological innovation, and policy support, it is likely to truly become a leader in GenAI development in the Southeast Asian region within the next few years.
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