Artificial Intelligence (AI) as a concept has been around for some time, but its true potential is just starting to be tapped. Industry experts at the recent C2C – Connecting to Customers online seminar, hosted by HSC Securities, argue that we are taking the initial steps into a broader and more profound technological revolution led by AI, particularly Generative AI, a field witnessing tremendous growth.
Global tech stocks are currently being led by this AI boom, with forecasts suggesting an overwhelming surge in the market between 2023 and 2024. Vu Thi Thu Thuy, a market analyst, indicates that the first wave of AI, coinciding with the emergence of the fourth industrial revolution, initiated between 2018 and 2023. In the AI value chain, applications serve as the pinnacle layer, supported by a robust data infrastructure layer that includes cloud services like those offered by major players in the technology sector.
This burgeoning sector, according to McKinsey, is set to experience a continued explosion within the next 3-5 years, especially within the middle layer of data infrastructure. The full impact and competition will likely be most visible in the upper application layer.
Optimism for AI’s developmental path is echoed by FPT executives, including Nguyen The Phuong, CFO of FPT. Phuong highlights AI’s significant benefits to businesses in terms of revenue growth and operational efficiency. With a global market value already at $196.63 billion in 2023, Generative AI is poised to grow at a compound annual growth rate (CAGR) of 37.3% from 2023 until 2030, potentially saving the global economy between $26 trillion and $44 trillion.
Le Hong Viet, CEO of FPT Smart Cloud, emphasizes that Vietnam stands at the forefront of embracing AI in Southeast Asia, with youth demographics keenly interested in the technology. AI has permeated various sectors in Vietnam, enhancing areas such as finance, insurance, retail, and healthcare.
As a pioneer in Vietnam’s AI ecosystem, FPT is at the vanguard, not just participating in the design of AI chips but also leading the market with its globally recognized Vietnamese technology products.
FPT has been making its mark in the AI industry since 2013, concentrating efforts on Generative AI and Computer Vision in 2023, alongside expanding strategic partnerships with industry giants, most recently with Nvidia. These collaborations and innovations across AI modeling and infrastructure by FPT are intricately linked to the entire AI value chain, promising a transformative journey ahead in the AI revolution.
Key Questions and Answers:
– What is Generative AI?
Generative AI refers to a subset of artificial intelligence technologies that can generate new content by learning from existing data. It includes deep learning and machine learning models capable of image generation, natural language processing, music creation, and more.
– How is AI influencing global technological advancements?
AI is accelerating innovation in various industries by providing advanced data analysis capabilities, automating tasks, optimizing processes, and enabling new product and service creation. It is leading to efficiency gains, significant cost savings, and the creation of new market opportunities.
Key Challenges and Controversies:
– Data Privacy and Security: As AI systems require massive datasets to learn and improve, there are significant concerns regarding data privacy, protection, and the risk of data breaches.
– Job Displacement: Automation led by AI can displace workers in certain sectors, leading to economic and social challenges.
– AI Bias: AI systems can inherit biases from the data they are trained on, leading to discrimination and ethical concerns in their applications.
– Regulation: Developing regulatory frameworks that can keep pace with the rapid advancements in AI technology is challenging for policymakers.
Advantages:
– Efficiency and Productivity: AI systems can handle repetitive tasks more efficiently than humans, improving productivity and allowing human workers to focus on more complex problems.
– Innovation: By analyzing data at an unparalleled scale, AI can help in discovering patterns and solutions, fueling innovation in fields such as medicine, environmental science, and engineering.
Disadvantages:
– Unemployment: AI-driven automation can lead to a decrease in demand for certain job roles, especially those involving routine tasks.
– Complexity and Dependence: As industries and infrastructure become increasingly reliant on AI, the complexity of maintaining and safeguarding these systems grows, leading to potential vulnerabilities.
Related Resources:
When looking for information on the global impact of AI and the latest news in technology, the following websites could be useful:
– McKinsey & Company: For comprehensive reports on the economic implications of AI and other global market insights.
– NVIDIA: As a key player in AI and computing, NVIDIA’s website offers information on AI hardware and partnerships.
– FPT Software: To learn about the latest developments from the frontrunner in Vietnam’s AI innovation scene.
– Google AI: Google’s AI division provides research publications and updates on various AI initiatives.
These resources could provide further context and updated information on the topic of AI and its role in technological advancements globally.