Artificial intelligence, or AI, has become a catchphrase nowadays. As the world is proceeding further and further into the era of digitalization and advanced technologies, the role of AI technologies across fields and industries has become more and more obvious, shaping a bright future in the business realm. Vietnam, one of the currently fastest-growing economies in Southeast Asia, has recognized this trend and invested heavily in developing its AI industry. In this article, we will take a look at the top 10 AI companies in Vietnam that are leading the way toward a smarter future. But first, let’s clearly state the reasons why business owners should pay attention to AI in Vietnam.Â
Why Pay Attention to AI Services in Vietnam?
Vietnam’s economy has been growing rapidly, and so is its tech industry. With a young population, high internet penetration, and government support for the tech sector, Vietnam has become an attractive destination for investors looking to tap into the potential of AI.Â
- Vietnam is emerging as a promising destination or hub for tech companies seeking a more budget-friendly yet skilled talent pool, especially when compared to other countries like China and India. The nation boasts an impressive number of STEM graduates each year, coupled with a burgeoning cadre of young professionals eager to forge careers in the AI sector. This rich reservoir of talent is underpinned by competitive cost advantages, making Vietnam an attractive option for businesses looking to innovate in technology.
- The Vietnamese government has played a pivotal role in this ascent, recognizing early on the critical importance of nurturing the tech industry, AI included. Through the enactment of supportive policies, tax incentives, and funding initiatives aimed at bolstering the AI ecosystem, the government has laid a solid foundation for growth and innovation.
- Vietnam’s AI market is on a trajectory of rapid expansion, with projections suggesting a reach of $1 billion by 2024, increasing at a compound annual growth rate of 28.8%. This swift growth trajectory signals a fertile landscape for businesses keen on tapping into AI technologies and services within the country.
- Strategically positioned in Southeast Asia, Vietnam serves as a gateway to other key Asian markets. Its proximity to established tech hubs such as Singapore and China enhances its appeal as a strategic base for companies looking to broaden their AI operations across the region.
- A notable shift towards digital transformation is sweeping across various sectors in Vietnam. Businesses are increasingly leaning into AI to automate processes, enhance customer service, and sharpen data analysis competencies to maintain a competitive edge. This digital momentum is further amplified by the nation’s thriving startup ecosystem, which is marked by a plethora of incubators, accelerators, and venture capital entities championing AI innovation. This dynamic environment nurtures not only homegrown AI startups but also attracts global investment attention.
- Moreover, Vietnam’s high rates of mobile and internet penetration position it as an ideal testing ground for AI-driven applications on mobile and web platforms. The widespread digital connectivity offers AI firms a vast user base to deploy and refine new technologies and services.
Given these compelling dynamics, Vietnam is undeniably positioning itself as a vital player in the global AI arena, fostering innovation and growth. As we delve deeper into the AI industry within the country, it becomes clear why an increasing number of companies are looking towards Vietnam to drive their AI ambitions forward.
2024 Editors’ Picks: Ten Best AI Development Companies Based in Vietnam
As of 2024, Vietnam has solidified its position as a burgeoning hub for artificial intelligence (AI) development, thanks to its rich talent pool, supportive government policies, and strategic location in Southeast Asia. The country’s rapid digital transformation and thriving startup ecosystem have paved the way for numerous companies to take charge of AI innovation. Here, we spotlight ten of the best AI development companies based in Vietnam, recognized for their groundbreaking work, innovative solutions, and significant contributions to the global AI landscape.
Orient Software Development Corporation (OSD)
Founded in 2005, Orient Software is a leading software development company in Vietnam that specializes in not only AI and ML but also other current technologies, such as blockchain, IoT, and data analytics. Under the company’s belt are numerous successful AI development projects for clients in various industries, including healthcare, retail, and finance. With a squad of highly skilled engineers and consultants, OSD has the expertise to deliver AI solutions that drive business results.
FPT Software
A frontrunner in the Vietnamese AI sector, FPT Software is renowned for its comprehensive AI solutions that cater to various fields, including finance, healthcare, and manufacturing. Their AI services encompass machine learning, natural language processing, and smart automation, driving efficiency and innovation for clients worldwide.
VinAI Research
Backed by Vingroup, one of Vietnam’s largest conglomerates, VinAI Research stands out for its cutting-edge research in AI. The company focuses on deep learning, computer vision, and speech recognition technologies, aiming to solve global challenges through AI innovation.
KMS Technology
KMS Technology excels in providing AI solutions that enhance business operations, customer experience, and product innovation. Their expertise in machine learning, predictive analytics, and AI-driven software development makes them a go-to partner for businesses to leverage AI for growth.
TMA Solutions
With over two decades of experience in the tech industry, TMA Solutions has ventured into AI, offering services like AI consulting, custom AI application development, and data analytics. The commitment to quality and innovation has earned them a good reputation as a trusted AI development partner.
Zalo AI
A division of VNG Corporation, Zalo AI is making strides with its AI-powered products and services, including speech recognition, natural language understanding, and AI chatbots. Their innovations are integrated into Zalo, Vietnam’s leading messaging app, and beyond.
Cinnamon AI
Cinnamon AI specializes in AI-driven business process automation, particularly in document understanding and data extraction. Their AI solutions aim to streamline operations and enhance decision-making for enterprises across various sectors.
These companies highlight Vietnam’s growing prowess in AI development, showcasing the country’s potential to be a key player in the global AI revolution. Their achievements not only contribute to Vietnam’s technological advancement but also set a benchmark for innovation and excellence in the AI domain.
