With Vietnam being listed in the Top 5 fastest-growing ICT industries in the world there are more schemes than ever that support businesses in the government’s digital push to develop smart cities, according to Mr. Pham Hong Phong, Managing Director and General Manager for Cloud Platform at the Oracle Corporation, Vietnam.

“We foresee cloud as being at the forefront, with the government and businesses alike bolstering cloud adoption to realize its benefits of increased productivity and resource optimization,” he said.

2018 has gotten off to a good start in terms of Vietnam’s technology push towards becoming future-ready and enhancing ICT to account for 10 per cent of GDP by 2020.

Business leaders, in particular Chief Information Officers (CIOs), therefore need to be privy to how they can ride the wave of cloud developments already emerging. By aligning the capabilities of the cloud with business priorities, CIOs can ensure optimal business outcomes for their organizations.

Invest in greater cloud security

Cybersecurity has become a key necessity, especially with the increasing sophistication and regularity of cyberattacks. One case in point is the near 20 ransomware cases over the past two years in Vietnam.

While businesses realize the need for the cloud, for its speed and scalability, CIOs are aware of the potential security threats they are susceptible to, even with the slightest vulnerability or breach. As such, CIOs need to look at stepping up their investments in cloud security, to mitigate the risks of costly breaches and outages.

A step up from the usual security features, this will involve the use of artificial intelligence (AI) to analyze a unified data set consisting of the full breadth of security and operational telemetry as well as provide automated remediation. This will, thereby, enable quick changes to the organization’s security and operational posture.

Leverage blockchain to obtain quality information on time

With an approximate 10 per cent of global GDP to be stored in blockchain technology by 2027, blockchain will transform how business is done by enabling more efficient, secure and transparent interactions.

As such, CIOs need to prioritize cloud services with integrated blockchain solutions. This will enable their organizations to stay agile and competitive yet secure, by extending business applications while speeding up transactions. Additionally, benefits can be reaped by extending enterprise boundaries by deploying new business models from untapped markets with blockchain-verified identity and offerings.

Incorporate AI in business management services

With AI emerging as a key trend in the consumer experience and industries in Vietnam, data will only further this trend through apps that rely on raw data for predictive analytics. CIOs should look to making AI their priority to maximize their cloud usage by integrating AI apps within their cloud platforms.

Through the use of algorithms to determine business priorities, the system continually updates and derives insight from experience more rapidly and objectively, thus empowering businesses to manage their resources and plan better for the future.

This could also involve the use of AI-powered chatbot capabilities that optimize the end-user experience, as a more conversational channel to engage customers with, offering insight into how to personalize and troubleshoot the end-user experience.

Through this, CIOs can ensure that their organizations gain smart and timely insights, making the decision-making process simpler and more efficient for various business functions across the organization.

Vietnam Economic Times