According to Vietnam IT Landscape 2019 report announced by TopDev, FPT.AI is named to be one of the leading artificial intelligence units in Vietnam, along with 11 other companies. Notably, there are two startups, which are CyRadar and ELSA, invested by FPT Ventures.
Report: “Vietnam IT Landscape 2019 – What are the technology companies in Vietnam doing” is the most up-to-date version of the entire IT market in Vietnam. According to TopDev, apart from outsourcing, IT industry in Vietnam has been on tremendous progress with seven new trends:
- Financial technology (Fintech);
- Artificial intelligence (AI);
- Software as a Service (SaaS);
- Marketplace Platform;
- Educational technology (EdTech).
As for AI, with the development of platforms such as OpenAI, OpenCV, TensorFlow, Caffe… the problem of algorithms is no longer a difficult one. The remaining puzzle to solve is whether the data is big enough and possess the quality to leverage AI. These units are those that have products which are product-market fit, receiving large capital or high turnover, such as FPT.AI, CyRadar, ELSA, Asilla, Abivin, Arimo.
FPT.AI is the leading artificial intelligence platform in Vietnam, researched and developed by FPT Corporation in 2012 and deployed in many domestic and foreign businesses. FPT.AI provides a platform where programmers and businesses can develop solutions that help solve many business problems. Applications of FPT.AI such as virtual assistant, chatbot, customer care center, image recognition… are the key to business automation, optimization operation – customer care and enhance business efficiency.
There are two other startups invested by FPT Ventures which are also on this list are CyRadar & ELSA. With CyRadar, outstanding information security AI solutions include “CyRadar Advanced Threat Detection”, “CyRadar Endpoint Detection and Response” and “CyRadar Internet Shield”.
ELSA has successfully built A.I. proprietary in Speech Recognition with Deep Learning technology reaches 95% accuracy. This application listens to English pronunciation of learners and gives instant feedback on errors, as well as giving instructions for each syllable in accordance with the native-speaker standard.
The report said that more than 73% of technology companies are intending to apply AI to their products. This also makes the demand for AI engineers at an alarming level.
In addition to AI, the report also provides reviews on Fintech, Blockchain, SaaS, E-Commerce, Marketplace Platform, Educational Technology (EdTech).
In the field of Fintech, startups in this emerging field thrive in the Vietnamese market, from which it gradually becomes a good signal for the community as well as businesses operating in this field, especially is in Hanoi and Ho Chi Minh City. In fact, this entrepreneurial support ecosystem is also becoming more and more complete, with the participation supporting units such as VIISA Lab, gathering great momentum for the growth of the emerging ecosystem.
Blockchain technology: With a strong base of engineers, who are ready to take on new opportunities, Vietnam is considered one of the emerging blockchain hubs in the region. The majority of products and markets of businesses applying blockchain are geared towards globalization, businesses below with outstanding activities and products are striving to bring blockchain into life.
SaaS (Software as a Service) is predicted by many experts to create a new trend in businesses in Vietnam. According to a survey by BetterCloud, by 2020, about 73% of businesses will switch to using SaaS. SAAS is leading the B2B Tech field in many countries but in Vietnam it is still not being fully utilized, opening many potential opportunities for startups in this field.
Vietnam e-commerce is considered by many investors to be attractive with a market size equivalent of 10 billion USD in 2020.
In addition to familiar startups such as Lazada, Shopee, Sendo, Tiki, etc, there are quite popular in recent times. Ecomobi, iFind, Zody, Jamja, Accesstrade, Massoffer, Wisepass, Websosanh…
Marketplace Platform: In Vietnam, e-commerce platforms are growing strongly. Fierce competition is the foundation of e-logistics, for example, ride-hailing, delivery, with the outstanding ones like Grab, Go-Viet, FastGo, Be, Now, AhaMove… Other areas such as lifestyle, health, the business also have startups such as Jupviec, eDoctor, Luxstay, Homedy, Chili…
Educational Technology (EdTech): Up to now, the EdTech market in Vietnam has received an investment of about 55 million USD. According to TopDev’s preliminary statistics, there are about 50 outstanding EdTech companies. In fact, the market has long-standing names like FPT and Topica. The application of 4.0 technology in education also helps customers significantly, for example, VioEdu (FPT), which is an Edtech platform for students from elementary to high school, allocated according to the curriculum of Vietnamese textbooks. The system of online exercises and tests applies the latest technologies such as knowledge modeling according to graphs, big data analysis, artificial intelligence to help personalize learning, each student having a personalized learning process to overcome weaknesses and leverage strengths.
In particular, FPT Techday’s event was also rated by Top Dev as “having a different objective than a normal recruitment campaign (bringing in records) is to bring identification, top of mind, trust, transparency… so that when they intend to change their jobs, they will think of the company first by the impression of the company culture as well as the technology that the company is doing.” Along with FPT Techday are Zalo AI Summit, Vietnam Frontier Summit…
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