According to Dr. Can Van Luc, artificial intelligence (AI) is not only a trend but has become a decisive factor in business performance.
Speaking at the workshop “Corporate governance in the AI era: Improving performance with AI and smart data”, Dr. Can Van Luc – Member of the National Financial and Monetary Policy Advisory Council, Chief Economist of BIDV, commented that the global economy will grow slowly, only 2.7%, inflation will decrease to 2.9% in 2025 (International Monetary Fund – IMF), while global trade is forecast to decrease slightly to 3.2%.
For Vietnam, GDP growth is maintained thanks to a 14.3% increase in exports, a boom in foreign direct investment (FDI), a boost in public investment, and a 12.2% recovery in the VN-Index in 2023. However, businesses still face many challenges such as trade fluctuations, financial risks, cybersecurity, and the impact of climate change.
According to Mr. Luc, AI is not only a trend but has become a decisive factor in business performance. McKinsey’s 2024 report shows that 65% of the global workforce has applied Generative AI to their work, but only 15% of businesses have recorded clear profits from this technology. The most popular AI application areas include marketing (54%), technology (39%) and finance (16%). Businesses need to build a long-term AI strategy, data management and develop a capable workforce to exploit the full potential of this technology.
Sharing the same opinion with Dr. Can Van Luc, Mr. Nguyen Viet Long – PhD in Technology Management and Economics, Seoul National University, emphasized that AI is reshaping modern businesses.
“The rate of AI application globally increased by 31% compared to last year, helping businesses reduce 21-30% of costs thanks to automation,” Mr. Long informed.
AI also has a strong impact on the labor market, requiring employees to develop specialized skills, strategic thinking and master new technologies. Effective application of AI can help businesses improve return on investment (ROI), optimize cash flow and increase financial risk management capabilities.
Speaking more about the impact of AI on businesses, Mr. Le Hong Quang – General Director of MISA cited data from IBM, Forbes, McKinsey showing that the rate of businesses applying AI to management increased from 33% in 2022 to 72% in 2024.
“AI is strongly supporting customer service (56%), cybersecurity (51%), customer relationship management (42%) and content production (40%). Businesses that apply data to make decisions can increase customer attraction 23 times higher than traditional businesses,” said a MISA representative.
Mr. Quang gave an example, currently, 5,000 businesses have been granted a loan limit of 20,000 billion VND through MISA’s AI platform, with a disbursement success rate 4 times higher than the conventional method.
Regarding solutions to maximize the benefits of AI, Mr. Nguyen Viet Long – PhD in Technology Management and Economics, Seoul National University, said that businesses need to quickly adapt, invest in human resources capable of mastering technology and integrate AI into each operating process. This trend is not limited to technology or finance but also spreads to marketing, customer care, content production and supply chain management. Applying AI strategically will help businesses create sustainable competitive advantages in a volatile business environment.
Meanwhile, Mr. Le Hong Quang – General Director of MISA emphasized that businesses need to change not only in technology but also in management thinking and long-term development strategy.
“If we don’t take drastic action now, we will not only fall behind but also risk being eliminated from this competitive game,” said Mr. Quang.