Vietnam
Artificial Intelligence (AI) Market is anticipated to grow at a high CAGR in
the forecast period 2024-2028. The market is being driven by an increase in
demand for intelligent systems to boost productivity and efficiency. Faster
speech recognition and natural language processing are two examples of how
technological developments in the AI sector are helping the market for AI
growth.
In
contrast to the natural intelligence demonstrated by humans and other non-human
animals, artificial intelligence (AI) refers to the capacity of robots to
observe, synthesise, and infer knowledge. For instance, this is carried out in
tasks like input mapping, speech recognition, computer vision, and cross-language
translation.
Growing
Healthcare Industry
One
of the most significant industries in the greater big data ecosystem is
healthcare because of the critical role it plays in a prosperous and productive
society. Doctors, nurses, and other healthcare professionals can all benefit
from AI's assistance with routine chores. AI in healthcare can enhance general
patient outcomes, preventative care, and quality of life, as well as provide
more accurate diagnostic and therapeutic approaches. AI can assist with forecasting
and observing the emergence of contagious diseases by analysing data from the
public sector, the healthcare sector, and other sources. To combat pandemics
and epidemics, AI has the potential to be a crucial part of global public
health initiatives. Improved hardware and technological capabilities for
computational applications have made AI commercially available.The greater
extension and accessibility of produced data in the life sciences business has
made it possible to use AI for better analytical purposes.
Due
to advancements in mobile technology and sensor unit pricing, modern wearables,
such as smartwatches and fitness trackers, have the computing power to generate
and analyse massive amounts of data at a reasonable cost.
The
application of AI to better Vietnam's healthcare is one of the most intriguing
advancements. Doctors and other healthcare professionals can enhance patient
outcomes by using AI-powered technologies to make more precise diagnosis and
administer more efficient treatments. With the help of medical history, VMED's
OneAI can now accurately forecast a patient's likelihood of developing chronic
conditions like cardiovascular disease, diabetes, atrial fibrillation, heart
failure, non-allergic asthma, and chronic obstructive pulmonary disease.
Additionally, it can view chest X-ray images to aid in the early diagnosis of
breast, lung, and TB cancers. AI is assisting medical personnel in identifying
individuals who are at risk for specific disorders, enabling them to take early
action and stop more serious issues from emerging. Along with improving patient
outcomes, it lessens the workload placed on the industry's sometimes overworked
and underfunded healthcare personnel.
Proliferation
of Automobile Industry Driving Market
The
most prominent application of AI in the expanding automotive sector, which is a
substantial source of AI, is in automobiles. AI chips, computer vision, and
machine learning are the three primary forms of artificial intelligence
employed in self-driving automobiles. Furthermore, the use of AI in the
manufacturing of cars will gradually converge with the development of
sustainable smart cities. The low-latency communication that 5G connectivity
will enable between vehicles and eventually between everything in the world (V2X)
opens up a wide range of AI use cases.
AI
can help with centralised traffic management, which will enhance the efficiency
of travel and reduce the environmental impact of vehicle energy use. Mobility
providers will continue to handle fleet management and real-time vehicle
routing using AI and infotainment systems will be able to provide ambient
commerce thanks to interactions with smart infrastructure. Tesla, for instance,
blends cutting-edge artificial intelligence technologies, like autopilot, with
client datasets for data analytics to anticipate and gather knowledge about
consumer requirements. The features of its automobiles are then improved using
this knowledge.
Increasing
Internet of Technology (IoT)
IoT
has been steadily adopted by the corporate community over the past ten years.
Each day, one billion terabytes of data are generated by IoT devices. By 2025,
there will likely be 42 billion IoT-connected devices on the planet. The
networks grow along with the data. Business benefits of IoT with AI include
lowering downtime, increasing operational performance, enabling new and
improved goods and services, and improving risk management. IoT with AI offers
a strong reaction to intelligent automation. IoT and AI are changing many other
industries, including manufacturing, sales and marketing, the automobile and
healthcare sectors, and others. Due to this, the worldwide artificial
intelligence industry is expected to expand quickly in the future years. The
business world has steadily embraced IoT during the past ten years.
A
new era of commercial and consumer technology has begun as IoT devices and
their data capabilities have been used to create or improve businesses. The
next stage has arrived with the release of the potential of IoT devices
adopting "artificial intelligence of things," or AIoT.
Adopting
and funding the AIoT will allow businesses, economies, and industries to
utilise its benefits and achieve competitive advantages. IoT collects the data,
which AI then examines to simulate intelligent activity and assist in
decision-making with the least amount of human participation.
Agriculture
and Manufacturing sector help AI to grow
Agriculture
will be greatly impacted by AI. Food security is a key worry in a country with
a population that is getting close to 100 million and a middle class that is
expanding quickly. AI has the potential to increase agriculture productivity
and yield in Vietnam, one of the world's top agricultural producers. Precision
farming is the application of technology, such as artificial intelligence (AI),
to maximise crop production through accurate monitoring, agricultural
management, and analysis. Numerous cooperative ventures, including those with
the Viet-Uc Group and AquaEasy, are already assisting thousands of small shrimp
farmers in raising productivity. AI-driven solutions are assisting farmers in a
variety of ways, such as maximising yields, growing seasons, fertiliser use,
and much more. To make judgements about seed planting, fertilisation, pest
management, and other agronomic practises, AI includes employing sensors,
drones, and other digital tools to collect data on soil conditions, weather,
crop development, and other aspects. The objective is to boost crop yields
while reducing waste and improving efficiency.
AI
has an effect on industry in Vietnam. Electronics, textiles, and footwear
manufacturers now have factories all around Vietnam. These industries are
benefiting from AI as it increases quality and efficiency. For instance, the
collaborative robot (cobot) maker Universal Robots, based in Denmark, recommends
Vietnam's manufacturing industry leaders to use its cobots. The AI-powered
robots increase production, decrease the demand for human labour, and operate
around-the-clock. For instance, they are trained to recognise issues and find
solutions fast, minimising downtime and minimising or eliminate mistake.
Vietnamese firms can automate risky and repetitive processes, lowering the
chance of accidents and freeing up employees to concentrate on higher-value
jobs. AI is used in supply chain management and logistics to optimise
processes, which lowers waste and boosts productivity.
Recent
Development
- Vietnam
AI Grand Challenge is a project that was started in 2019 to promote AI
technology development. It helps researchers and startups in the field of
artificial intelligence (AI) to develop and market their AI solutions by
providing money, assistance, and resources.