AI App, a Vietnamese Startup, Achieves Record-Breaking Revenue of $1 Billion

Artificial Intelligence (AI) has been one of the top buzzwords of 2023, especially after the explosion of Chat GPT. AI is changing the world and even delivering unexpected results for businesses. Over the past year, many individuals and companies have improved their performance significantly by applying AI and at the same time have realized the importance and fast pace of AI evolution.

AI is gradually revolutionizing human life, from the way people live, learn, and work to areas that were thought to be exclusive to cognition, such as creating art. Recognizing the extensive potential of AI applications, many large technology corporations around the world have come up with ambitious AI development plans. According to experts’ predictions, by 2028, the AI market value could surpass $1 trillion.

Thanks to its strategic focus on AI, Microsoft has surpassed a $3 trillion market capitalization, while Nvidia has recorded a 265% increase in revenue, raising its market cap to $2 trillion.

In Vietnam, according to Nguyen Xuan Phong, in 2023, FPT Software achieved the historic milestone of $1 billion in revenue, supported by AI applications in its business operations. Positioned as a global company providing comprehensive IT services, FPT Software now has branches in more than 30 countries and territories worldwide, with a total of 83 offices globally.

In 2023, FPT Software has made significant progress in expanding its global presence to deliver successful digital transformation for its customers. This can be clearly seen through its strategic partnerships with leading companies in the industry such as Microsoft, SAP, AWS, Salesforce, and Adobe.

FPT Software currently has 30,000 employees. Therefore, on its journey to become a global player, the company also faces a significant challenge. This involves finding ways to improve productivity, enhance the morale of its workforce, and the majority of whom are programmers.

According to Nguyen Xuan Phong, Director of AI at FPT Software, the company has chosen Generative AI as its companion. Specifically, FPT Software has developed, integrated, and tailored special AI applications to suit its working environment, called CodeVista. This is a friend and assistant that helps FPT Software programmers perform tasks related to their expertise.

FPT Software has established a specialized AI research lab called the AI Lab and created the FPT Software AI Residency program to create a world-class AI research environment and community right in Vietnam. The AI Residency program has produced 34 A*, A, Q1 papers in the world’s leading AI fields, helping FPT Software’s products, including Docify, CodeVista, and Code Summarization models, to top Microsoft’s rankings throughout 2022 and the first half of 2023.

Since returning to Vietnam and joining FPT in 2019, Dr. Nguyen Xuan Phong has led FPT to become one of the 25 global companies that co-founded the AI alliance, while also contributing to making Vietnam one of the 13 most prestigious countries in the global AI alliance.

AI, a lever and the “key” to the future

Sharing the same view as Nguyen Xuan Phong, Nguyen The Duy, Vice President of ADT Global, said, “It is true that we need to prepare ourselves so that everyone can master AI in the future. In the future, AI will be considered a basic skill, a must-have when we apply for jobs. In the past, when applying for a job, one only needed to be proficient in Word, Excel, etc., but in the near future, job requirements may include the ability to write prompts that generate the desired results from AI. Therefore, it is crucial to be prepared and know how to use AI.“

Many people believe that there are certain professions that require creativity that cannot be replaced by AI. However, reality shows that AI is creating “even more amazingly” than humans. AI brings great efficiency, and that is part of the reason why major corporations worldwide are conducting “layoff storms” and cutting staff.

“AI is developing very rapidly and showing remarkable results. However, AI is still incapable of replacing those job skills that require emotional intelligence for evaluation because humans have the advantage in this area. Sometimes, when handling work, we also need to consider both emotion and logic flexibly,” emphasized Nguyen The Duy.

AI is the current trend and a significant lever for personal and business growth. The Director of AI at FPT Software stated, “Right now, the most important thing is that we need to learn how to control AI. This can be done immediately because the technology is already available, and all that remains is whether we are ready to step into it or not. In the long run, especially for students and young people, if they are exposed to and learn about AI, they will soon develop algorithmic thinking, logical thinking, and more…“.

In this era of AI explosion, Phan Van Hung, Technology Director of TomoTech, believes that AI applications can help individuals “achieve results while being lazy” and maintain high work efficiency. This is entirely possible in areas such as sales, marketing, content creation, and learning.

For example, in learning, AI can be applied to help learners summarize lessons, content, and concepts within each chapter. This approach allows people to study in a more targeted manner, saving time and improving efficiency. Additionally, instead of spending an hour creating sales-related content, we can complete this task with just a few prompts, giving us more time for other tasks.

Experts all agree that in the future, AI will replace humans in jobs that are repetitive in nature, such as writing marketing content or providing customer service through call centers. However, for other jobs, AI may only replace a particular skill, not the entire job. Therefore, people should not fear AI but instead consider it a friend and an assistant in our work and lives. Give AI the necessary content and data when assigning