Nine out of 10 businesses are involved in digital transformation and three of 10 say the transformation has brought big benefits, according to Truong Gia Binh, chair of Vinasa.
Digital transformation is understood as the digitizing of all operations of enterprises to help them make quality products at low costs.
Phan Thanh Son, Chief Technology Officer of FPT IS, belonging to FPT, the Vietnamese largest IT Group, said the five levels of transformation include registering, exploring, equipping to prepare to join the process, carrying out the transformation, and breaking the old model.
Most businesses and institutions in the world are at the low level of exploration and only 4 percent at the highest level. Therefore, it’s not too late for Vietnam to implement the process and determine the strategy it needs to follow to ensure success of the transformation.
|Most businesses and institutions in the world are at the low level of exploration and only 4 percent at the highest level. Therefore, it’s not too late for Vietnam to implement the process and determine the strategy it needs to follow to ensure success of the transformation.|
Transformation begins from infrastructure
According to a survey by IDC carried out in 2017 with the title ‘Is your network infrastructure ready for the digital transformation?’, most infrastructure still cannot satisfy the requirements.
The requirements include speed, security, expansion capability, cloud storage and simplification.
Park Jong Hyun, CEO of DASAN Zhone Solutions, said mobility, big data, artificial intelligence (AI), cloud computing and Internet of Things (IoT) play a key role in the digital transformation, but the revolution of transformation can only start when the infrastructure is ready.
The connectivity solutions now available can ensure speed, but other problems still exist, including security and expansion capability in the future. Choosing the solutions of infrastructure development under the ‘connect and run’ mode will help increase the expansion capability in the future and optimize the initial investment costs.
Technology, 4.0 revolution all need reasonable mechanisms
Besides the challenges in building data, businesses have also pointed out the ‘bottlenecks’ in cyber security, technology and institutional mechanisms.
Duong Tri Thanh, CEO of Vietnam Airlines, the national flag air carrier, commented that new technology all need reasonable policies and mechanisms to develop.
He said wi-fi is available on aircraft of foreign airlines. Meanwhile, Vietnam Airlines has just got the license to provide wi-fi service and is available only on four airplanes.
According to Deputy Minister of Science and Technology Bui The Duy, enterprises all build their databases, but they don’t share the data with each other. Duy said this is one of the biggest challenges of the digital transformation process.
It's clear that digitalization is a prerequisite for local banks to survive and develop in the new era.
With increasing digital adoption, the finance industry is having great difficulty finding human resources for new job positions, experts have said.