CEO Le Hong Viet: “AI can support 10 million customers each month”

In the future, Artificial Intelligence technology is to be applied to completely change the way businesses operate, manage and interact with customers at every touchpoint, especially for enterprises with a large customer base.

This is what Mr. Le Hong Viet – General Director of FPT Smart Cloud shares in the discussion session “New challenges – New opportunities” within the framework of Business Forum 2023 with the topic “Model growth innovation”. This forum is organized by Forbes Vietnam together with the Ceremony of Honoring the 50 best listed companies in Vietnam in 2023.

“Chat GPT is considered as a starting signal for the race to effectively apply AI. FPT currently has some research projects related to large language modeling (LLM) and natural language processing (NLP) to increase the accuracy of AI. Let’s take the customer service field as a typical example. AI application has helped the company to support nearly 10 million customers per month with an accuracy of 96 – 98%.” said Mr. Viet.

Regarding the story of overcoming challenges and looking for new opportunities for development in the future, General Director of FPT Smart Cloud affirmed that as a technology company, FPT is constantly willing to accompany and help businesses to improve productivity and model growth innovation quickly and flexibly based on new technology application systems such as Cloud and AI.

At the same time, Mr. Viet also advises on how to promote the digital transformation process of enterprises, and apply the technological solutions effectively in management, operation and business. Firstly, enterprises need to clearly understand 3 important factors of digital transformation: technology transformation, technology-based business model transformation and human transformation from the perceptions of leaders to employees. Subsequently, an unforgettable element is that digital transformation must be derived from the needs of the business departments to promote the demands and make changes. This really helps to solve the problems of each business department. To conclude, in terms of the investment costs for digital conversion, Mr. Viet suggested that enterprises can make use of service solutions by renting or buying and then use as much as they pay. 

In the Business Forum 2023, Mr. Le Hong Viet – General Director of FPT Smart Cloud has represented FPT Corporation to receive the award of Top 50 best listed companies in 2023. This is the 11th year that Forbes Vietnam has evaluated and drawn up this list. Luckily, FPT is one of the few enterprises that continuously appear in the ranking. According to the Organizing Committee, the businesses in the list of Top 50 best listed companies are the most elite. They have brought in a total profit after tax of 228,096 billion VND, an increase of 18% and total revenue of 1,490,453 billion VND, which is up 24.9% compared to companies in the 2022 list.

“This is the 11th consecutive year that FPT is in the list of 50 best listed companies by Forbes Vietnam. 2022 has also witnessed the brightest point in FPT’s development history. Sales of newly signed IT services with foreign markets reached 1 billion USD, which increased by nearly 40% compared to the previous year. Moreover, revenue from digital transformation services also increased strongly by 33%, reaching 7,349 billion VND. This is an excellent base for FPT to target 1 million domestic customers and benefit from the government’s disbursement of investigation in digital transformation of public projects.” cited from Forbes Vietnam. 

The business operations of FPT showed promising signs throughout the first seven months of 2023. The revenue has increased by 22.4% over the same time in 2022, reaching 28,429 billion VND. Profit before tax reached 5,069 billion VND, up 19.5% compared to the same period.

In 2023, FPT expects to achieve 18.8% revenue growth and 18.2% profit growth. Meanwhile, the Corporation also set a new mission – Becoming a Happiness Creation organization. Accordingly, FPT will make continuous efforts to turn Vietnam into a happy digital country with a government operated by digital data. Since then, the needs of citizens can be understood and served effectively, all enterprises could be supported and developed optimally. 

Forbes Vietnam’s ranking is based on the consolidated audited financial statements of companies listed on the Ho Chi Minh City Exchange (HSX) and the Hanoi Exchange (HNX). To make the List of 50 best listed companies in 2023, companies listed on the HSX and HNX are evaluated through several steps. In the preliminary round, enterprises need to meet the following criteria: to be profitable in 2022, a minimum revenue and capitalization of 500 billion VND.

In the next round, businesses will be quantitatively scored on five criteria: compound growth rate in revenue, profit, ROE, ROC and EPS development in the 2018 – 2022 period. Then, Forbes Vietnam carries out a qualitative survey to evaluate the sustainable development of the business: the company’s position in the industry, the source of profits, the quality of corporate governance, the industry’s prospects… The capitalization was closed on 30/05/2023. The figures used for the calculation are the audited consolidated financial statements of 2022.