According to a recent report by the McKinsey Global Institute, AI could generate between $13 trillion and $21 trillion in global economic value annually by 2030. While large corporations are rapidly integrating AI to optimize operations and boost competitive advantage, an important question arises: Can small and medium-sized enterprises (SMEs) keep up in this race?

In Vietnam, the government has set an ambitious goal for the digital economy to account for 30% of GDP by 2030. However, a significant gap remains between this vision and current reality. While large enterprises possess the capital and infrastructure to adopt advanced technologies, more than 600,000 SMEs - accounting for 97% of all businesses in Vietnam - are struggling to overcome significant hurdles on their digital transformation journey.

A recent survey by the Vietnam Association of Small and Medium Enterprises revealed concerning statistics: 68% of SMEs view cost as the biggest obstacle to adopting modern technology solutions. Business owners shared that traditional management software packages typically cost between 50 million and 200 million VND per year (approximately $2,050 to $8,200 USD), a steep expense for businesses with annual revenues of just a few billion VND.

But the challenge goes beyond cost. In an era where human capital is considered an enterprise's most valuable asset, many SMEs are missing out due to outdated human resource management systems. Studies show that businesses using advanced performance evaluation and talent development tools have a 40% higher employee retention rate and 25% greater productivity than those relying on traditional methods.

Take, for example, Nguyen Tien Dung, owner of a small retail shop in Ho Chi Minh City. With a team of just 20 staff members, he previously struggled to track employee performance and training needs, resulting in high turnover. After implementing an AI-powered HR tool, his store's revenue increased by 30% within just six months, thanks to targeted training and improved employee engagement.

Recognizing these challenges, several Vietnamese tech firms are now developing ways to close the gap. Some have restructured their business models to align with SMEs' financial capacities. Instead of annual subscription plans, they offer one-time investments at significantly lower prices.

Tanca, a pioneering company in this space, recently launched a program to support 1,000 SMEs in their digital transformation, offering a lifetime package for just 2.8 million VND (around $115 USD). The package includes an AI-integrated HR management system and a training platform with thousands of professional courses. Lan, a garment business owner in Hanoi, said: “Tanca completely transformed how we manage our team. It’s affordable, easy to use, and the results exceeded our expectations - my employees are now more dynamic than ever.” According to company representatives, this initiative aims to make enterprise-grade tools accessible to smaller companies.

Moreover, in the booming digital economy, experts predict that SMEs adopting AI early will gain long-term advantages, such as cutting operating costs by up to 20% and rapidly expanding into new markets through data-driven insights.

Innovations like these offer renewed hope for Vietnam’s hundreds of thousands of small businesses. As financial barriers lower, digital transformation is no longer a luxury reserved for large corporations. This helps level the playing field and could catalyze the sustainable growth of the entire economy. In the global digital race, Vietnam must mobilize all businesses - regardless of size - to rise together in the technology era.

If you are an SME owner, don’t miss out - visit https://tanca.io/blog/tanca-ho-tro-1000-doanh-nghiep-viet-nam-chuyen-doi-so today to begin your transformation journey!

Hanh Nguyen