Research from DBS, a leading financial services group in Asia, on digital transformation has found that Vietnam is among the top 10 markets in the region in the endeavor and ranks second after Singapore among the 22 markets surveyed. The top 10 markets are Australia, China, Hong Kong (China), India, Indonesia, Singapore, Taiwan (China), the UK, the US, and Vietnam. Companies in Vietnam (68%) ranked higher than the global average (64%) in taking a strategic, consistent, or radical approach to digitalizing the customer experience and engagement, according to the research. The majority of Vietnamese companies (63%) were satisfied that digital transformation was helping them achieve overall profitability, followed by providing improved customer insight (61 per cent) and overall competitiveness in market (57%), according to the research. More than half (56%) said they have been effectively using digital technology in customer service and engagement. The findings also revealed that many Vietnamese companies (35%) were in the “developing leaders” category in terms of digitalizing their customer engagement, with major potential existing for high transformation performance down the road. Source: VnEconomy 

Vietnam ranks second among 22 markets in digital transformation

South Korean electronics giant Samsung announced plans Tuesday to increase its investment in Vietnam from $18 billion to $20 billion. Samsung’s new Research and Development Center in Vietnam has been completed and will soon come into operation, focusing on research on phones, computers, and network systems, Vietnam News Agency quoted Han as saying. In upcoming big fairs, Samsung will exhibit leading hi-tech products and solutions, and if there are partners, the firm will manufacture them in Vietnam. Samsung Electronics Vietnam reported export turnovers of $65.5 billion in 2021, helping turn Vietnam into a global smartphone manufacturing hub. The Vietnamese president also met Tuesday with Hyosung chairman Cho Hyun Joon, who said the South Korean industrial group has invested $3.5 billion in Vietnam. Source: VnExpress 

Samsung to increase Vietnam investment to $20B

Several tech firms in Vietnam are using OpenAI&apos;s ChatGPT to do different tasks, from writing codes and bug checking to data analysis and report creation. Quan, a CTO of a company specializing in website services, said that ChatGPT is capable of creating short codes to build a basic website within minutes. To accomplish the same task, it might take an engineer an entire day to manually code an entire website. Thu Hien, a specialist at the company, said the human side sometimes wins thanks to their experience and knowledge about the project. However, if ChatGPT were allowed to read all the codes of the project, it is likely that the chat bot might be able to find faulty parts that even the most experienced programmers may miss. Engineers said programs designed to find bugs are not something new in the programming field. However, what sets ChatGPT apart is how quickly it can explain a problem and reach for a solution. Thanh said that if ChatGPT is not given a clear prompt, or if the reports it produces are not properly edited, the data analysis might be inaccurate, or even false. Moreover, the cost of using Open AI&apos;s API is still quite high for the Vietnamese market. Source: vnexpress 

How Vietnam's tech industry utilizes ChatGPT

Vietnamese tech firms are expected to grow rapidly in both the mid-and long-term thanks to rising IT demand around the world and rapid digital transformation at home.Statista, a German company specialising in market and consumer data, said IT services spending is expected to amount to 1.28 trillion USD and 1.39 trillion VND in 2022 and 2023, up 7.9% and 8.8%, respectively.The Vietnamese Ministry of Information and Communications targeted 100,000 digital firms in Vietnam by 2025, a rise of 56.25% from 2021.The telecom segment is expected to grow stably thanks to a rise in the number of broadband subscribers (8-10%), and a boom of 4G and 5G services.Notably, Vietnam has advantages in its IT workforce market.According to HSBC, 51 percent of programmers in Vietnam are 29-30 years old. The hourly wage for.IT outsourcing software development in Vietnam is about 18 USD, equivalent to 64% in other Asian nations and 10% in the US.Therefore, customers from big markets like the US, Japan, the EU and Asia-Pacific have selected Vietnam as an ideal destination for cooperation in IT development.Source: vietnamplus 

5G industry and forecasts for its development