AI Can Support 10 Million Customers Per Month

In the future, Artificial Intelligence (AI) will continue transforming the way businesses operate, manage, and interact with customers at every touch point, especially for companies with large customer bases.

This piece of information has been shared by Mr. Le Hong Viet, CEO of FPT Smart Cloud (a subsidiary of FPT Corporation), in the panel discussion with the topic "New challenges - new opportunities" within the framework of the 2023 Business Forum - "Innovating The Growth Models." Forbes Vietnam organized the Forum along with the ceremony of honoring Vietnam's 50 best-listed companies in 2023.

"Chat GPT is like a starting signal for the race of AI. FPT has spent much on research projects related to large language modeling (LLM) and natural language processing (NLP) to increase the accuracy of AI. For example, in the customer care service segment, FPT's AI applications help support nearly 10 million customers per month with an accuracy of 96-98%," said Mr. Viet.

Mr. Le Hong Viet, CEO of FPT Smart Cloud, shared at the panel discussion themed "New Challenges - New Opportunities."

Regarding overcoming challenges and exploring growth opportunities, Mr. Viet affirmed that FPT was always willing to accompany businesses in enhancing labor productivity and innovating growth models quickly and flexibly based on emerging technologies such as Cloud and AI.

In addition, Mr. Viet also advised on digital transformation methodologies and the practical application of technology solutions in management, operation, and business. First, companies need to acknowledge three significant pillars of digital transformation: technology transformation, business model transformation based on technology, and human transformation from the perception of leaders to each employee. Next, digital transformation must come from the actual needs of functional departments to make practical changes and resolve their pain points. And finally, about the investment in digital transformation, Mr. Viet suggested that businesses could go with metered services (also called pay-per-use and consumption-based pricing) to save costs.

On the agenda of the 2023 Business Forum, Mr. Viet represented FPT to receive the award of the Top 50 best-listed companies in 2023. It is the 11th year that Forbes Vietnam has announced the list, and FPT is among the few enterprises to be continuously honored. According to the Organizing Committee, the Top 50 best-listed companies are the most elite enterprises in the economy. Their total after-tax profits amounted to 228,096 billion VND, an increase of 18% compared to the 2022 list. The total revenue reached 1,490,453 billion VND, a growth of 24.9%.

FPT has been honored as one of the Top 50 Best-Listed Companies for 11 consecutive years

"For the 11th consecutive year, FPT is included in Forbes Vietnam's Top 50 Best Listed Companies list. 2022 also marked the brightest milestone in FPT's development history: IT services revenue from new international markets surpassed one billion USD, a nearly 40% increase compared to the previous year. Digital transformation service revenue also experienced significant growth, reaching 7,349 billion VND, a 33% increase. FPT aims to reach one million domestic customers and benefit from government investments in digital transformation," Forbes Vietnam mentioned.

In the first seven months of 2023, FPT's business performance continued to record positive results. Revenue reached 28,429 billion VND, up 22.4% over the same period last year. Profit before tax reached 5,069 billion VND, up 19.5% year on year.FPT aims at 18.8% revenue and 18.3% profit growth rates in 2023. In addition, the Corporation also sets the new mission of becoming an organization that helps build a happier future. Accordingly, FPT strives to turn Vietnam into a digital country where the digital, data-driven Government can offer convenient services based on deep insights of its citizens, and all businesses are facilitated growth.

The Forbes Vietnam rankings are based on the audited consolidated financial reports of companies listed on the Ho Chi Minh Stock Exchange (HSX) and the Hanoi Stock Exchange (HNX). To compile the list of the Top 50 Best-Listed Companies in 2023, listed companies on the HSX and HNX undergo several evaluation steps. In the initial selection round, companies must meet specific criteria: being profitable in 2022 and having a minimum revenue and market capitalization of 500 billion VND.

In the next round, companies are quantitatively assessed based on five criteria: compound revenue growth rates, profit, ROE, ROC, and EPS for 2018-2022. Subsequently, Forbes Vietnam conducts qualitative investigations to evaluate the company's sustainable development, including its industry position, profit origin, quality of corporate governance, and industry prospects. The market capitalization is as of May 30, 2023. The data used for calculations are audited consolidated financial reports for 2022.