FPT Ventures into Every Facet of the Global AI Value Chain

At the C2C — Connecting to Customers online seminar hosted by HSC Securities titled "Leading AI — Accelerating Growth," Mr. Nguyen The Phuong (Executive Vice President and CFO of FPT Corporation, also Chairman of FPT Smart Cloud) highlighted the Corporation's decade-long investment journey in AI. He underscored his belief in AI as a burgeoning technology with transformative potential, attributing its adoption to FPT's enhanced market positioning.

Mr. Nguyen The Phuong - Executive Vice President and CFO of FPT Corporation, also Chairman of FPT Smart Cloud Photo: FPT

Mr. Phuong expressed FPT's ambitious goal of offering comprehensive AI solutions on a global scale, foreseeing AI as a catalyst for business growth. He projected that the growth rate within this technology segment would outpace FPT's overall growth rate.

On a related note, Le Hong Viet, the CEO of FPT Smart Cloud, emphasized the intertwined progress of AI with technological advancements and cloud algorithms. He highlighted the strategic partnership with Nvidia to establish an "AI Factory."

FPT is set to offer GPU cloud services, enabling global business customers to access essential resources crucial for enhancing research capabilities and expediting the adoption of AI applications, particularly Generative AI.

Moreover, FPT has developed a multitude of AI models spanning language, image recognition, programming, and design, leveraging them across various industries to establish a comprehensive knowledge repository for AI. Subsequently, the unit will furnish a user-friendly platform facilitating seamless and practical application of AI solutions by individual users and businesses.

FPT also provides comprehensive solutions for domestic and foreign businesses. "Indeed, FPT's active involvement and close integration across all facets of the AI value chain, ranging from platform development to model creation, product innovation, and solution deployment, are evident," he said.

The corporate leader further elaborated on the competitive advantages of FPT within this burgeoning technology segment.

First and foremost, FPT demonstrated strategic foresight by investing in AI during its nascent stages. Staying five years ahead of its competitors, FPT offers 20 products and solutions tailored for domestic businesses, leveraging its language expertise to understand specific Vietnamese documents.

This unique advantage has enabled FPT to secure a significant domestic market share. Approximately two-thirds of banking and financial institutions utilize at least one FPT product.

Secondly, these solutions not only address corporate challenges but also aspire to tackle issues faced by businesses and customers alike. In line with this vision, the Corporation has pioneered the AI Labs model, collaborating closely with customers to identify new products derived directly from their unique pain points, bolstering revenue streams, and enhancing customer experiences.

"This model has emerged as particularly fitting within the Vietnamese market context, where AI remains relatively novel, and customers may not yet grasp the full extent of its value proposition," Mr. Le Hong Viet said.

Thirdly, following a decade of trailblazing in establishing a comprehensive AI ecosystem, FPT boasts a formidable team of AI experts with ample potential for further expansion. Looking ahead, FPT plans to invest in the establishment of the AI Research and Application Center in Quy Nhon.

FPT's suite of AI products consistently delivers positive outcomes for businesses. Noteworthy examples include the transformation of Home Credit's customer care center, the implementation of Vietcombank's smart virtual assistant (VCB digibot), and the enhancement of workforce quality at Long Chau (FPT AI Mentor).

The FPT's leader believed that Vietnam possesses a sizable workforce adept in algorithms that could bolster AI resources shortly. This can be seen as a promising advantage in positioning Vietnam as a prominent global hub for AI innovation.

Having ventured into the AI market as early as 2013, FPT has solidified its standing as a premier technology company in Vietnam, epitomizing the ethos of "Vietnamese technology with a global footprint." In 2023, the Corporation sharpened its focus on Generative AI and Computer Vision. Additionally, FPT is actively broadening its strategic alliances with industry leaders such as Mila and Landing AI and, most recently, establishing a strategic cooperation agreement with Nvidia.

In 2024, FPT charts an ambitious trajectory for its technology segment, aiming for robust growth with 21% of revenue and 25% of pre-tax profit, constituting significant contributions of 61% and 47.8% to the overall business, respectively. The Corporation advocates for accelerated digital transformation initiatives over the next three years to realize the ambitious revenue milestone of 5 billion USD from software exports by 2030. This entails fostering green transformation, smart transformation, and deeper engagement in Automotive and semiconductors.

FPT is also slated to make a separate investment of 300 billion VND into AI R&D initiatives (from 2021 to 2025). Notable is the strategic collaboration with Nvidia, earmarking an anticipated investment of 200 million USD toward the AI Factory infrastructure. "We hold unwavering confidence in our ability to capitalize on emerging opportunities as the AI market surges in the times ahead," Mr. Nguyen The Phuong emphasized.

Source: https://vnexpress.net/fpt-se-tham-gia-moi-cong-doan-trong-chuoi-gia-tri-ai-toan-cau-4751154.html