The digital transformation is creating breakthrough achie-vements thanks to cutting-edge technologies like artificial intelligence and blockchain. Do you have any predictions about how these technologies will impact Vietnam? Patricia Yim You know, there is a fear that one day, machines will replace human beings. But, IBM believes that the purpose of artificial intelligence (AI) is to augment human intelligence and not take over people. AI systems such as Watson help because they can understand, reason, and learn from vast amounts of data - including data such as videos, images and blog posts which are not typically “read” by traditional computer systems. It is the job of the human being to use the insights from AI to make better decisions. If we look at the AI platform Watson for Oncology, which we teamed up with Vietnamese company Five9 to launch last December, it acts on a cognitive computing system to help oncologists in Vietnam identify evidence-based cancer … [Read more...] about IBM wants to take tech leadership in ASEAN
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Giving agriculture a high-tech boost (Bai Tet KT)
After years of success in the automobile industry, Truong Hai Auto Corporation-Thaco-has decided to step into the agriculture sector. Last month, Tran Ba Duong, chairman of Thaco, attended an agricultural conference chaired by Prime Minister Nguyen Xuan Phuc, when he announced that his firm would develop high-tech rice cultivation models in a northern province. “Rice fields in the southern region have developed well with high yield, thus I decided to select the northern region to invest in. We will not only focus on cultivation, but also on transportation and harvesting, which are two primary weaknesses of agriculture,” he said. With the point of view of an automobile industry tycoon, Duong noted that it is difficult for agriculture to develop successfully if it is not industrialized and mechanised. “However, the mechanisation of agriculture must suit the real situation in Vietnam,” Duong noted. He revealed that his firm is working with the An Giang-based Loc … [Read more...] about Giving agriculture a high-tech boost (Bai Tet KT)
Resolute to Agricultural Insurance to Support Agricultural Restructuring
Resolute to Agricultural Insurance to Support Agricultural Restructuring After three years of try-out, the Ministry of Finance of Vietnam released the latest assessment on agricultural insurance, showing agricultural insurance is still a high-risk field and is shrugged off by insurers. However, for farmers who have bought insurance policies, agricultural insurance is really necessary. Reportedly, under the direction of Deputy Prime Minister Vuong Dinh Hue, the Ministry of Finance is compiling a draft document on extensive deployment of agricultural insurance which will be submitted to the Government for approval. The Ministry of Finance said after three years of piloting insurance for three agricultural products, namely rice, livestock and fishery, up to 304,017 farming households and production organisations took part in the pilot programme. Total insurance coverage valued VND7,747.9 billion and insurance premiums totalled VND394 billion. Insurers suffer losses? Total insurance … [Read more...] about Resolute to Agricultural Insurance to Support Agricultural Restructuring
Company classification for tax management sparks concern
Company classification for tax management sparks concern Minh Tam HCMC - Experts have expressed concerns over the legality and viability of criteria drafted by the General Department of Taxation to classify and manage enterprises over tax law compliance. For the tentative criteria, enterprises would be divided into good, average and low groups in terms of tax law compliance, with different management measures applying to each group. Companies classified as good should meet nine criteria and 15 indexes relating to observance of tax regulations, obligation fulfillment and payable taxes to equity, and average revenue of the sectors in which enterprises operate. Businesses that do not meet one of the criteria and 10 indexes would be put in the low compliance group. The remaining group would consist of companies that do not meet nine criteria of good compliance and do not have any one of the low compliance errors. However, Phan Thuy Tuong Vi, a lecturer at the University of Economics … [Read more...] about Company classification for tax management sparks concern
Insurance industry ecouraged to make preparations for TPP, AEC
The Trans Pacific Partnership (TPP) and ASEAN Economic Community (AEC) are expected to offer more market opportunities for insurance companies in Vietnam, but will also present tough challenges in a more competitive international environment. "The current Vietnamese insurance market is facing many disadvantages and hasn't met its potential for development", Pham Thanh Hai, legal director of Bao Minh Insurance Corporation, told a seminar in HCM City on May 12 on the development of the insurance industry in the country. The insurance industry has been active for 20 years in Vietnam. As of March 2015, the country had 69 insurance companies, and more than 400,000 employees with total turnover of 54 trillion VND (2 billion USD) in 2014. The legal framework for the insurance industry, however, is outdated and incomplete, and most residents do not buy insurance, Hai said. Also, the industry lacks good governance, and fails to provide quality services and insurance products that meet … [Read more...] about Insurance industry ecouraged to make preparations for TPP, AEC