AI as a determining factor in the competitive edge of future economies

With the explosive growth of Generative AI (GenAI), leading global experts agree on the critical role of AI and GenAI in driving breakthroughs in the global standing of businesses. With a projected market value exceeding $1.8 trillion by 2030, AI has become a “hot race” among major economies, particularly in terms of investment, research, and mastering this transformative technology. On August 18th, the inaugural GenAI Summit 2024 was held, bringing together top experts in Artificial Intelligence, business leaders, and policymakers in economic and investment strategies in Vietnam. The event fostered discussions and exploration of Generative AI’s vast potential, while providing opportunities for collaboration between technology companies and businesses. 

At the event, Mr. Lê Hồng Việt, CEO of FPT Smart Cloud, delivered a keynote speech emphasizing: “AI will become the determining factor in the competitive edge of future economies.” He elaborated: “In this race, Vietnam not only competes with other nations but also faces the rapid advancements of automation. The current top priority for Vietnam is to enhance labor productivity and bolster its competitiveness.” To address these objectives, FPT has adopted the “GenAI First” strategy, placing AI at the core of all business activities. Every FPT product and service is designed to stand out through AI integration. Currently, FPT has partnered with NVIDIA to establish AI infrastructure in Vietnam and Japan, providing robust computational power for the AI community in Vietnam. 

In addition, FPT is heavily investing in the training and development of AI talent, a “scarce resource” globally. The company is developing AI campuses, collaborating with major global corporations, and continuously innovating to create value for the community. These efforts aim not only to help businesses enhance labor productivity but also to position Vietnam as a prosperous, technology-driven nation. 

As a leading technology developer in the region, FPT is committed to continuing its pioneering role in AI development and application. This endeavor seeks to improve productivity, elevate Vietnam’s competitiveness, break free from the middle-income trap, and transform the country into a thriving and prosperous nation.