Vietnam has recently approved the National Digital Transformation Program by 2025 with an orientation toward 2030, laying the foundation for the country to become a powerful AI innovator in the coming years.

Vietnam's AI readiness score has surpassed the global average for the first time. Photo: Forbes

According to Vietnam's Ministry of Information and Communications (MIC), the revenue of the Information and Communication Technology (ICT) industry in 2021 is over US$136,000 million, a sharp increase from around $124,000 million in 2020.

It is also estimated that the ratio of Vietnam's value in ICT revenue reached 24.65%, a significant increase compared to previous years.

According to Forbes, Vietnam currently has more than 64,000 digital technology companies, up 5,600 companies from 2020, and nearly 1,000 Vietnamese-branded ICT products and services, adding that Vietnam has more than 1 million IT workers and more than 80,000 university and college graduates majoring in ICT.

The Center for International Development Studies in Canada and the United Kingdom's Oxford ranked Vietnam 6th in the Association of Southeast Asian Nations (ASEAN) and 62nd in the world for the 2021 Government Artificial Intelligence Readiness Score.

OpenGov Asia reported that Vietnam ranked sixth out of the 10 ASEAN member countries and 55th globally in the 2022 Government AI Readiness Index, moving up seven places compared to 2021. The country's average score reached 53.96 (up from 51.82 in 2021), surpassing the global average of 44.61.

These are all positive signs, but the real challenge for Vietnam is the need for more human resources with the necessary knowledge in AI, Forbes wrote.

According to the World Intellectual Property Organisation (WIPO), less than 2,000 Vietnamese are studying and working in AI-related fields, and less than 300 people are considered AI experts. There are about 50 universities and institutes teaching AI-related majors in Vietnam.

In short, Vietnam has ambitious plans for its leadership in AI, and Vietnam expects to be among the top four countries in Asia. Regarding the advancement of artificial intelligence, FPT Software is pushing hard for it, Forbes said.

FPT Software has also invested heavily in AI research and development (AI R&D) to help Vietnam rank in the world's top 50 by 2030 regarding AI R&D and software applications. FPT Software is also the first company in Southeast Asia to join the Mila partner network, the world's largest academic lab specializing in deep learning, Forbes informed.

"By 2030, AI will contribute US$13 trillion more to the economy or 1.2% of the GDP of the globe. With major government policies supporting AI R&D and application development, Vietnam is poised to make some giant leaps forward. There is no question in my mind that the country has a strategic vision for AI innovation, and it is blossoming," Forbes concluded.