Dispelling AI startups' mistrust of investors

The inability to approach traditional companies and not trusting investors are the two biggest weak points of local startups, as shared by leading technology experts at the Vietnam Frontier Summit 2019 themed Intelligence in Motion recently.

dispelling ai startups' mistrust of investors hinh 0
More than 2,000 visitors attended the event and the 35 AI showcases
Discussing with other speakers at the event, Nguyen Hoa Binh, chairman of NextTech Group, said that traditional companies should be the main targets of AI startups because their business depends on traditional methods, which is a great opportunity for startups using AI to bring them up to speed. However, more importantly, startups should prove that applying AI helps traditional companies save costs and make profits.

Binh also explained that the majority of local startups do not know how to prove themselves for investors. “They cannot prove their products make more money and create more profit, while the majority of investors who are not so knowledgeable about technology only care about profitability,” said Binh.

"Not being able to prove their capabilities has been worsening the situation of local startups," said Park Yun Young, director of the Korea IT Cooperation Center.

In addition to the discussion session between speakers, the event also gathered the breakthrough technology products made by local and overseas startups that stand at the forefront of the AI wave. Vietnam Frontier Summit 2019 was also a gathering place for leading technology experts discussing the core issues of AI and Industry 4.0, aiming to create a tight connection between managers, authorities, and technology startups.

The event welcomed more than 2,000 attendees, 35 showcases of AI products, and 40 guests, including the experts and representatives of companies applying AI into their operation. The co-organisers of the event this year were rubikAI, Nexus, FrontierTech, and VTV24.

VIR

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