Visitors experienced AI ​​Robot T'Aio - a virtual assistant launched by TPBank in 2017 during a recent event in Hà Nội. — Photo tapchikinhtetaichinh.vn

HÀ NỘI — For digital technology to truly reshape every sector of Việt Nam’s economy, experts say a Government-led transformation strategy and advanced digital tools alone are not enough. Large enterprises must take the lead, pioneering the spread of technology and knowledge throughout the economy.

Digital technology is driving business transformation across the country, particularly through the rapid rise of artificial intelligence (AI), experts told saigontimes.vn.

TPBank stands out as a prime example. Once among the weakest banks and forced into mandatory restructuring in 2011, it has since risen into Việt Nam’s top 10-12 commercial banks, now serving over 14 million customers. Its success is largely credited to bold digital transformation initiatives.

Currently, 98 per cent of TPBank’s customer transactions are conducted through digital channels.

General Director of TPBank Nguyễn Hưng told saigontimes.vn that relying solely on the traditional banking model would have made it almost impossible for the bank to compete with older, more established institutions, especially given State restrictions on branch expansion.

From the start of its restructuring, TPBank deliberately focused on developing digital channels, enabling it to serve customers without the constraints of physical space and operating hours, he added.

Similarly, the humanoid robot VinMotion, developed by Vingroup and capable of moving and interacting with humans, represents a significant advancement for the company in the high-tech sector. This achievement follows nearly a decade of Vingroup’s strategy to directly engage in industrial applications and adopt Industry 4.0 technologies.

At the same time, other major Vietnamese companies are also taking a proactive role in promoting digital transformation, spreading technology and knowledge to other businesses and economic sectors to accelerate nationwide adoption.

FPT Digital has been actively helping other companies embrace digital transformation. The firm organises training courses on AI and its applications in production and business for EVNCPC.

It also provides guidance and consulting on AI implementation for BIM Group, enabling the company to leverage data and technology to control costs, increase revenue and build sustainable competitive advantages.

Another firm, MISA JSC, organises numerous technology training events and sends staff directly to assist businesses, particularly in adapting to new tax management policies.

The company is also advancing its MISA AMIS OneAI product — a unified platform that integrates the most advanced AI models, replacing the need for separate AI tools. This platform allows small businesses and other enterprises to compare outputs from multiple AI models, select the most suitable results and make informed decisions, thereby improving organisational management and productivity.

Beyond large enterprises, digital technology startups are also becoming increasingly vibrant, with nearly 74,000 companies operating in areas such as hardware, electronics, software and AI, big data and the Internet of Things. With this growth, Việt Nam’s digital technology industry is projected to generate total revenue of US$152 billion in 2024, up 35.7 per cent from 2019.

The humanoid robot VinMotion, developed by Vingroup and capable of moving and interacting with humans, represents a significant advancement for the company in the high-tech sector.  — Photo diendandoanhnghiep.vn

Challenges remain

Despite the benefits, most Vietnamese enterprises still operate at a relatively low technological level. In addition, the development of digital technology and infrastructure is uneven across regions, creating significant gaps in access. This disparity affects nationwide connectivity and poses challenges for the sustainable growth of Việt Nam’s digital technology industry.

According to Đỗ Danh Thanh from Deloitte Vietnam, Việt Nam’s investment in research and development (R&D) remains low, reaching only about 0.42 per cent of GDP in 2022. This falls short of the country’s target of 1.5 per cent of GDP set for the period up to 2020, according to World Bank statistics.

Most R&D resources still come from the public sector, while the private sector — expected to be the main driver of innovation — has contributed only minimally, Thanh said, adding that the challenge does not lie only in technology but also in factors such as strategy, people, data and operating models.

He explained that many businesses lack a clear digital vision, have not developed a digital roadmap and fail to align transformation with growth objectives and core strengths. As a result, digital initiatives often become fragmented and lean more towards technical upgrades than true strategic innovation.

Meanwhile, Chairman and General Director of InfoRe Technology Company Lê Công Thành noted that the training and application of digital technology in many Vietnamese businesses remain at an early and rudimentary stage, often limited to individual use within organisations.

He added that even many senior leaders are still in the process of learning.

For digital technology to reach every sector of the economy and help businesses and workers move from simply digitalising tools to transforming operating models, Hưng from TPBank emphasised the need to focus on people’s needs.

He noted that addressing human factors is the key to ensuring the success of digital transformation initiatives.— VNS