|Experts seek to offer guidance on the future at the technology conference
“We would like to show how leading technologies, including blockchain, artificial intelligence, network security, and e-commerce can change life and help the Vietnamese business community achieve breakthroughs," Dang Nhat Minh, editor-in-chief of the magazine said at the first Tech Summit in HCM City this week.
David Lang, chief product officer of Infinity Blockchain Labs, said by 2030 the value of blockchain would reach US$2 trillion.
“Blockchain is a trusted platform. It has created more jobs and more nations have welcomed blockchain enterprises with looser regulations.
“Despite the fact that the electronic money market has significantly decreased, other blockchain applications have strongly developed in the banking system and supply chain and to meet other social demands.”
According to CNN, last year the blockchain market was worth nearly US$1 trillion.
Infinity Blockchain Labs has applied blockchain technology in tracking agricultural products in Vietnam.
“In the near future people will use blockchain technology like the internet and we can imagine that each company will build its own trustworthy network based on blockchain technology and then connect them together,” Lang said.
Vietnamese start-up companies should pay attention to artificial intelligence (AI), the conference heard.
According to US market research company Tractica, by 2025 AI applications will be worth US$60 billion.
The latest trends in AI are to imitate the human nervous system and get machines to speak various languages.
Nguyen Tuan Anh, technology director at Microsoft Asia-Pacific, said: “Human ingenuity is unique, no machine can compare it. It can adapt, imagine and invent, but AI cannot.
“AI is to amplify and supplement human ingenuity. AI must go with Big data because AI cannot work efficiently without Big data while Big data is less useful without AI.
“When AI can be integrated into smart operation systems, it can help humans connect systems and supervise all important fields like transport, administration, medicine, housing, education, and culture.
“AI brings precise production, saves expenditure, makes human life more comfortable, and creates opportunities for enterprises.”
Hoang Tuan Hai, chief product officer at Hewlett Packard Vietnam, said cyber attacks had doubled last year.
“In Vietnam, 70% of cyber attacks are done by malware in end-user equipments.
“Network security is very important for personal connected equipment like computers, mobile phones, even printers because data is now valuable in the industry 4.0 era.”
Tran Ngoc Thai Son, founder and CEO of Tiki, said if any company wants to enter the billion-dollar club it should start with social networks, electronic payments and e-commerce.
“In Southeast Asia, Vietnam is considered to have great potential, only behind Indonesia, because of its population and youth.
“In 2017 retail turnover was US$130 billion with annual growth of 9%, while e-commerce only accounted for 2%. In future the figure will increase 10 fold to 20%.”
He advised Vietnamese investors to focus on warehousing, which is expected to boom soon to meet the rapid growth in e-commerce.
“Investors can make big bets and win big with big e-commerce companies, or bet small but win big with emerging models.”