Vietnam rannks second in ASEAN for GenAI startup growth

Vietnam ranks second in ASEAN for the dynamism and development of generative AI (GenAI) startups, according to the ASEAN GenAI Startup Report 2024.

The GenAI Fund, Amazon Web Services, Databricks and Vietnam's National Innovation Center co-organized the ASEAN GenAI Startup Report Launch Roadshow in Hanoi on September 19.

The report outlines the trends, opportunities and resources shaping the future of GenAI in the region, basing on surveys across six countries, including Singapore, Vietnam, Thailand, Indonesia, Malaysia and the Philippines.

It surveyed 500 startups over three months, offering data-driven insights for startups, governments and businesses on how GenAI technologies are transforming industries across ASEAN.

Mr. Denning Tan, a Partner at GenAI Fund, said Vietnam has emerged as a critical innovation hub in this field.

He predicted that Vietnam’s share of GenAI startups in the region would rise from 27% to 35%, moving closer to Singapore's position.

Vietnam has potential to overcome Singapore to lead the region in GenAI startups, he said.

The Vietnamese government recognized the importance of AI and has issued many policies to promote AI study, development and application, according to Mr. Do Tien Thinh, Deputy Director of the NIC.

The Ministry of Planning and Investment has submitted a proposal to the Prime Minister for developing a semiconductor workforce, aiming to have at least 5,000 engineers with AI expertise by 2030.

The NIC has been tasked with establishing an AI-focused research and training center, targeting the development of 7,000 AI experts and incubating 500 AI startups by 2030.