To better understand the scope of AI and where companies of different scales might be headed, AWS collaborated with Strand Partners to conduct the study, which surveyed 1,000 business leaders, and 1,000 nationally representative members of the public.

Nationwide, around 47,000 businesses, or 13% of Vietnamese businesses, adopted AI solutions in 2024, averaging five every hour. Almost 170,000, or 18%, now use AI, showing a year-on-year growth rate of 39%. The productivity and economic potential of AI adoption are promising.

Vietnamese businesses show strong AI innovation adoption, demonstrating significant economic potential, said Eric Yeo, Country General Manager, AWS Vietnam.

The survey shows that 61% of Vietnam’s businesses that have adopted AI reported an increase in revenue, at an average rise of 16%, while 58% expected an average of 20% in cost savings.

The level of AI adoption also shows polarisation among businesses. As many as 55% of start-ups are using AI in some way, of which 35% are building entirely new AI-driven products. In contrast, 41% of large enterprises use AI, but only 11% of these are delivering a new AI-driven product or service, and only 12% have a comprehensive AI strategy. Clearly, start-ups in Vietnam show a much stronger interest and sharper responsiveness in applying and leveraging the strengths of AI, with a pace of adopting advanced technologies that far surpasses many long-established enterprises.

“The nimbler, faster-paced start-ups are also pulling ahead of large enterprises in their speed and depth of innovation. The resulting ‘two-tier’ AI economy could have lasting implications on a country’s future economic development. Celebrating AI adoption numbers alone masks the deeper challenges many businesses face across Vietnam,” said Nick Bonstow, Director at Strand Partners.

Although AI adoption in Vietnam is growing rapidly, most businesses remain at a basic level and have yet to fully tap into the potential of this technology.

About 74% of businesses remain focused primarily on basic AI uses, like driving efficiencies and streamlining processes. Just 17% have advanced to the intermediate stage of AI adoption, and only 9% have reached the most transformative stage of AI integration, where AI is no longer just a tool but a core part of product development, decision-making, and business models.

A lack of skilled personnel is the leading reason that 55% of surveyed firms said is preventing them from adopting or expanding their use of AI. Many reported having the technology and the vision, but are unable to find the people to bring it to life.

Lastly, with 69% saying they are more likely to adopt AI if the government leads, it will be critical to accelerate digital transformation in the public sector, especially in healthcare and education, and use public procurement to drive innovation.

Vietnamese firms step up branding efforts in digital space

Vietnamese businesses are increasingly recognising the urgent need to establish a strong brand presence in the digital space, delegates heard at a workshop on expanding market share and building brand identity held in Ho Chi Minh City on September 9.