The number of AI companies in Vietnam is very small. However, Vietnam has considered developing AI technology a priority, so it is expected that there will be more AI companies in the future.
Overview of AI technology in Vietnam
Artificial Intelligence (AI) is penetrating into daily life by replacing many manual and labor-intensive jobs. In many countries, development strategies for AI have been built, and this technology is considered as the core for the economic acceleration. In Vietnam, the Government has determined that AI technology is a breakthrough and need to be researched.
Mr. Nguyen Chi Dung, Minister of Planning and Investment emphasized that artificial intelligence has strongly developed. In 2018, the AI industry grew by more than 70% compared to 2017, equivalent to 200 billion USD. AI is likely to become the most disruptive technology in the next 10 years and it is necessary to push it further.
Minister of Science and Technology Chu Ngoc Anh said Vietnam has many advantages for start-ups, innovation and technology development, especially in the field of AI. Over the past time, with an open business environment and technology-passionate human resources, the application of artificial intelligence in all fields has seen strong developments, promoting linkages between elements in the AI ecosystem across Vietnam.
What is hindering the development of AI in Vietnam
One of the biggest problems is that it takes 1 to 2 years just to research and understand this technology. In addition, there are not enough people who are knowledgeable about machine learning or data scientists. Moreover, AI is quite new, even in the world, the number of companies specializing in artificial intelligence is still quite small, thus making development costs increase a lot.
Another problem is the lack of data and information. When it comes to AI, data is always at the top of the list. Vietnam is very poor in this area. Another thing is that AI development is not really supported and encouraged in Vietnam. Because the labor cost is still low, the adoption of AI is really ineffective.
Located in the southeastern part of Ho Chi Minh City, the company is currently helping real estate businesses with AI-enabled solutions. It supports property owners and managers connect with residents and digitize their information. The company uses AI and Blockchain to power its products including Ami A Biz, Ami Citizen, Ami University, Ami Building, Ami Electricity and Ami Fingerprint.
The startup also received an award at the 2017TechFest competition, and then received 9 million USD in funding from a Vietnamese real estate conglomerate, Binh Minh Group.
CastingAsia is an AI-driven marketing platform for influencers that uses algorithms to ensure that the right brands are connected with the right influencers. Created with the intent of providing data-driven insights to influencers, the startup offers three unique services: CastingAsia Platform, CastingAsia Marketplace, and CastingAsia Engagement. It’s all about ensuring that brands and influencers have a smart and safe environment for their influencer marketing. The startup is a project of AnyMind Group and gives marketers access to influencers and even influencers across Asia using AI. Shingo Hayashi, Regional Director of CastingAsia, said the company now has 10,000 influencers and that number is expected to rise to 50,000 by the end of this year. This will make it the largest influential marketing platform in Asia.
It is a web platform that helps investors make their decisions efficiently through data-driven investor-focused exchanges. The startup was established with the intention of changing the way companies are funded around the world. The company uses AI algorithms to rank and evaluate all startups. It drew attention in the IBM Watson AI XPRIZE competition, where it received recognition and support from world-class AI experts.
4. Reatlor Profiler
Located in the capital Hanoi, Reatlor Profilor is an automated content creation platform that leverages Natural Language Processing to automate the creation of professional real estate bios. The company partners with real estate portals, agencies and solution firms to transform the online profile of real estate professionals almost instantly. The company has a content creation platform using AI, which is capable of converting several LinkedIn profiles, portals and agencies in multiple languages.
The startup uses AI in the agricultural sector and aims to solve unusual problems in crop production. It connects farmers and agricultural professionals via mobile internet. The company monitors the health of plants and detects pests and diseases almost instantly using images.
This startup aims to improve job retention in companies, with the help of NLP (neuro-linguistic programming) and emotional analysis. In 2017, it was named one of the best places to work voted by Puget Sound magazine.
8. Trusting Social
Trusting Social aims to give credit scores based on non-traditional inputs, for example how often people pay their bills or how much their bills are paid. This startup leverages machine learning technologies and applies advanced data science to understand complex social data. The company uses algorithms for fraud detection to track signals to detect any anomalies in behavior, networks, and interaction patterns. The company also uses machine learning algorithms to predict financial reputation.
Source: baotintuc, ictvietnam
Compiled by VietnamCredit