{"id":10914,"date":"2024-07-01T22:26:12","date_gmt":"2024-07-01T15:26:12","guid":{"rendered":"https:\/\/dreamplex.co\/?post_type=blog&p=10914"},"modified":"2024-07-01T22:26:35","modified_gmt":"2024-07-01T15:26:35","slug":"the-ai-talent-dilemma-should-vietnamese-companies-invest-in-ai-teams-in-2024","status":"publish","type":"blog","link":"https:\/\/dreamplex.co\/en\/the-ai-talent-dilemma\/","title":{"rendered":"The AI Talent Dilemma: Should Vietnamese Companies Invest in AI Teams in 2024"},"content":{"rendered":"
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The AI Talent Dilemma: Should Vietnamese Companies Invest in AI Teams in 2024<\/h1>\r\n[\/vc_column_text][vc_single_image image=”10922″ img_size=”1920×1080″ alignment=”center” css=””][vc_column_text css=””]Just a few weeks ago, Apple rolled out a range of AI upgrades to its phones, laptops, and digital services, including the Siri assistant. CafeBiz righteously <\/span>stated<\/a><\/strong><\/span> that Apple is late to the game and unlikely to catch up with the \u2018big names\u2019 like Google and Microsoft.<\/span>\r\n\r\nLate or not, every company is now looking at AI and how the technology can upgrade their organization and products. Companies like Moderna, Microsoft, and Morgan Stanley are <\/span>using AI<\/a><\/strong><\/span> to make work faster and better (for example, through <\/span>AI recruiting<\/a><\/strong><\/span>) while improving the customer experience.\u00a0<\/span>\r\n\r\nVietnamese businesses, too, face a critical decision: Should they <\/span>invest in dedicated AI teams? <\/b>Or even appoint a Chief AI Officer (CAIO) as <\/span>companies like Dell<\/a><\/strong><\/span> have done?\u00a0<\/span>\r\n\r\nAs AI reshapes businesses globally, this question becomes increasingly pressing for companies aiming to stay competitive. But as we\u2019re already dealing with <\/span>rising labor costs<\/a><\/strong><\/span> and a tightening economic climate, we must remain realistic too.<\/span>[\/vc_column_text][vc_empty_space][vc_row_inner equal_height=”yes” content_placement=”middle” el_class=”blog-banner”][vc_column_inner el_class=”t-order-2″ width=”1\/2″ css=”.vc_custom_1701845137525{padding-top: 4rem !important;padding-right: 4rem !important;padding-bottom: 4rem !important;padding-left: 4rem !important;background-color: #e3edf6 !important;}”][vc_column_text css=””]\r\n

Dream big and achieve productivity in Dreamplex workspaces with your team<\/span><\/h2>\r\n[\/vc_column_text][vc_btn title=”Explore your ideal workspace” style=”outline-custom” outline_custom_color=”#203d76″ outline_custom_hover_background=”#203d76″ outline_custom_hover_text=”#ffffff” shape=”square” align=”left” i_align=”right” i_icon_fontawesome=”fas fa-arrow-right” css=”” add_icon=”true” custom_onclick=”true” el_class=”bt bt-outline” custom_onclick_code=”scheduleCall()”][\/vc_column_inner][vc_column_inner width=”1\/2″ css=”.vc_custom_1719847381198{background-image: url(https:\/\/dreamplex.co\/wp-content\/uploads\/2020\/11\/Dreamplex-Le-Hien-Mai-2-jpeg.webp?id=10901) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][vc_empty_space height=”20 rem”][vc_empty_space height=”20 rem”][\/vc_column_inner][\/vc_row_inner][vc_empty_space height=”4rem”][vc_column_text css=””]\r\n

The AI Revolution in Vietnamese Business<\/strong><\/h2>\r\nFor some companies, the answer is clear.\u00a0<\/span>\r\n\r\nTake Cake by VPBank, for example. This purely digital bank recently announced its NEXT GEN AI BANK strategy, positioning AI as the core of its operations. This move reflects a growing trend among forward-thinking Vietnamese companies to embrace AI technologies.<\/span>[\/vc_column_text][vc_single_image image=”10920″ img_size=”1920×1080″ alignment=”center” css=””][vc_column_text css=””]Mr. Nguyen Huu Quang, CEO of Cake by VPBank, believes AI is the solution for an effective purely digital banking model. In an <\/span>interview<\/a><\/strong><\/span> with CafeF, he said: “We use AI to simplify the customer journey, understand their habits, and thereby suggest products and services tailored to each customer group, even each customer.”<\/span>\r\n

The Potential of AI Investment<\/strong><\/h2>\r\nThe potential benefits of investing in AI are significant and far-reaching. AI’s ability to analyze vast amounts of data allows businesses to gain deeper insights into customer behavior and preferences.\u00a0<\/span>\r\n\r\nCompanies also benefit when AI improves their products. By Now, Pay Later app Klarna saw faster resolution times with fewer employees when it <\/span>partnered<\/a><\/strong><\/span> with OpenAI on an AI chatbot.\u00a0<\/span>[\/vc_column_text][vc_single_image image=”10918″ img_size=”1920×1080″ alignment=”center” css=””][vc_column_text css=””]For Cake by VPBank, these AI benefits <\/span>translate<\/a><\/strong><\/span> to more personalized financial products and services. AI can also streamline internal processes, reducing costs and improving efficiency across various operations, from risk management to marketing.<\/span>\r\n\r\nBy investing in AI talent, companies can develop unique products and services that set them apart. The ability to approve loans within minutes using AI technology is a prime example of how AI can create a competitive edge.\u00a0<\/span>\r\n\r\nAccording to <\/span>Niko Groeneweg<\/a><\/strong><\/span>, an AI expert who previously mentored Dreamplex startups, this makes investing in AI team members paramount:\u00a0<\/span>\r\n\r\n\u201cIf you\u2019re just running API calls, you can train your existing engineers. But if you\u2019re training and deploying your own models, you need to hire specialists. If a company ignores it, it\u2019ll probably fall behind in efficiency and innovation. Plus, people now expect smarter, more personalized experiences. AI helps businesses with better customer service and recommendations.\u201d<\/span><\/i>\r\n\r\nIt could also be a matter of budget, said <\/span>Dylan Nguyen<\/a><\/strong><\/span>, Country Manager at Cake in Vietnam:<\/span>\r\n\r\n\u201cSuccessful applications require a strong code base structure, which requires AI team members. Companies will likely hire 1-2 experienced AI developers or leaders, and then, based on their budget, consider upgrading the current developers or hiring new ones.\u201d<\/span><\/i>[\/vc_column_text][vc_row_inner equal_height=”yes” content_placement=”middle” el_class=”blog-banner”][vc_column_inner el_class=”t-order-2″ width=”1\/2″ css=”.vc_custom_1701845137525{padding-top: 4rem !important;padding-right: 4rem !important;padding-bottom: 4rem !important;padding-left: 4rem !important;background-color: #e3edf6 !important;}”][vc_column_text css=””]\r\n

Dreamplex \u2013 All-inclusive offices Solution to Attract and Retain AI Talents!<\/span><\/h2>\r\n[\/vc_column_text][vc_btn title=”Get Quotation” style=”outline-custom” outline_custom_color=”#203d76″ outline_custom_hover_background=”#203d76″ outline_custom_hover_text=”#ffffff” shape=”square” align=”left” i_align=”right” i_icon_fontawesome=”fas fa-arrow-right” css=”” add_icon=”true” custom_onclick=”true” el_class=”bt bt-outline” custom_onclick_code=”scheduleCall()”][\/vc_column_inner][vc_column_inner width=”1\/2″ css=”.vc_custom_1719847455901{background-image: url(https:\/\/dreamplex.co\/wp-content\/uploads\/2023\/07\/dreamplex-le-hien-mai-view.webp?id=10840) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][vc_empty_space height=”20 rem”][vc_empty_space height=”20 rem”][\/vc_column_inner][\/vc_row_inner][vc_empty_space][vc_empty_space][vc_column_text css=””]\r\n

The Challenges of AI Investment in Vietnam<\/strong><\/h2>\r\nWhile the potential benefits are compelling, Vietnamese businesses must consider the challenges.\u00a0<\/span>\r\n\r\nFinding qualified AI professionals in Vietnam can be challenging.\u00a0<\/b>\r\n\r\nAs the demand for AI expertise grows, companies may find themselves competing for a limited talent pool. Investing in AI talent and infrastructure can be expensive, especially for smaller businesses. Companies must carefully weigh the potential returns against the initial investment.\u00a0<\/span>\r\n\r\nSometimes companies can get by through simply upgrading existing talent, <\/span>Ruby Nguyen<\/a><\/strong><\/span>, founder of AI startup <\/span>Curieous<\/a><\/strong><\/span>, told us for this article:\u00a0<\/span>\r\n\r\n\u201cWhether to hire dedicated AI talent depends on the objective and the company. Most smart engineers can figure out AI quite fast at the application level. Still, to train or build specific AI models, you\u2019ll need specialized AI engineers. This hiring need is often determined by the head of AI in the company.\u201d<\/span><\/i>\r\n\r\nNhan Tran<\/strong><\/span><\/span><\/a><\/span>, an AI entrepreneur with experience at One Mount and VinBigdata, added that even upskilling still requires time and effort: <\/span>\u201cYes, companies can convert existing talent. However, you must consider whether your engineers want to make that change. And, to \u2018convert\u2019 them you\u2019ll need a comprehensive approach led by a senior AI leader. Either way, you\u2019ll be investing both time and money.\u201d<\/span><\/i>\r\n\r\nThe regulatory environment also poses a challenge as AI technologies evolve rapidly, and businesses must stay informed about local and international AI regulations to ensure compliance.<\/span>\r\n\r\nImplementing AI solutions often requires integration with existing business systems, which can be complex and time-consuming. This integration process may require significant resources and expertise to execute successfully.<\/span>\r\n

Should Your Company Invest in AI Talent?<\/strong><\/h2>\r\n[\/vc_column_text][vc_single_image image=”10916″ img_size=”1920×1080″ alignment=”center” css=””][vc_column_text css=””]Before you invest in AI talent, consider at least these factors:<\/span>\r\n\r\n1. How big is your company, and how much can you invest?<\/span>\r\n\r\n2. Will you be going deep on AI, or building thinner layers on an LLM?<\/span>\r\n\r\n3. What is the rest of the industry doing? What <\/span>could<\/b> they do?<\/span>\r\n\r\n4. What are your current technical capabilities? What is your current tech leadership saying?<\/span>\r\n\r\n5. What is your overall long-term strategy?<\/span>\r\n\r\nLarger companies with more resources may find it easier to justify the investment in a dedicated AI team or CAIO. Industries facing significant AI-driven disruption, like banking and insurance companies, may need to prioritize AI investments to remain competitive.\u00a0<\/span>\r\n\r\nCompanies with strong existing technical teams may find it easier to integrate AI specialists. Investing in AI talent becomes more crucial if AI aligns with your company’s long-term vision and goals. As Niko added for this article:<\/span>\r\n\r\n\u201cWhile companies need to be smart about using AI, ignoring it completely would be a big mistake. They should determine how AI can fit into their business to improve operations, keep customers happy, and stay competitive in a fast-changing world.\u201d<\/span><\/i>\r\n

In Conclusion<\/strong><\/h2>\r\nThe success of AI-driven approaches in Vietnamese businesses like Cake Bank demonstrates AI’s potential. However, deciding to invest in AI talent is more than one-size-fits-all.<\/span>\r\n\r\nAs business leaders, you\u2019ll need to carefully consider your company’s needs, resources, and long-term strategy. While the benefits of AI are clear, the path to realizing these benefits will vary for each organization.<\/span>\r\n\r\nWhether through hiring dedicated AI teams, appointing a CAIO, or exploring alternative approaches, AI will clearly play an increasingly important role in the future of Vietnamese business. The key is to start preparing now, ensuring your company is ready to harness the power of AI in a way that aligns with your business goals and values.<\/span>\r\n\r\nWe\u2019d love to hear from you: <\/b>How are you applying AI to your teams and products, and what support could we offer to future-proof your business? Reach out at <\/span>zoee@dreamplex.co<\/a><\/strong>. <\/span><\/span>[\/vc_column_text][vc_empty_space height=”4rem”][\/vc_column][vc_column width=”5\/6″ offset=”vc_col-md-offset-0 vc_col-md-2 vc_col-sm-offset-1″][vc_column_text el_class=”side-menu sticky-top”]