Businesses hurriedly preparing for 4.0 revolution

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More than 35 percent of businesses said they are preparing for the 4.0 industrial revolution and are ready for it, a survey by Vinasa found.

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Meanwhile, 70 percent said that digital transformation is an important solution for Vietnam to realize opportunities to be brought by the revolution.
Truong Gia Binh, president of FPT, described the 4.0 industrial revolution as ‘unprecedented, which will change human beings’.
He said the revolution, with big data analytics, cloud computing, real virtual reality technology, AI and IoT, will create a highly competitive business environment. 
In the race, the companies with technological advantages will have 9 percent higher turnover than others in revenue, 26 percent higher profit-making capability and 12 percent higher market value.
It is expected that four out of 10 companies now in Fortune 500 will disappear in the next 10 years to make room for new companies like Uber which can take full advantage of technologies to march forward.
Ten years ago, no one could have thought that Uber would threaten large traditional taxi firms just because it has an advanced technology platform, he said. The company valuation is now at $68 billion just after eight years of operation.
FPT technology director Le Hong Viet commented that Uber is a clear demonstration of a new business model born under the impact of digital transformation.
Vietnamese businesses, well aware of the big impact that the 4.0 industrial revolution will have, have been making hectic preparations for it.
Shoppee is one of them. “E-commerce is the industry which handles a lot of users’ data, so Shoppee must build in-depth analysis systems to evaluate the market based on Big Data. We also have plans to apply Big Data and Machine Learning in controlling fraud and preventing counterfeit goods,” said Tran Tuan Anh, CEO of Shoppee.
Vinamilk, the nation’s leading dairy producer, has allocated VND2.4 trillion to automate links of the production line, while TH Milk will spend hundreds of thousands of dollars on automatic lawn mowers which can handle the work of 800 people.
FPT said it will work with large technology conglomerates, including Amazon Web Services, Siemens, General Electric and Microsoft, to pioneer the deployment of technology solutions and services based on a core technology platform of the digital revolution for customers in Japan, the US and Europe as well as Vietnamese businesses.
FPT has already provided intelligent traffic solutions in HCM City and for the Hanoi-Lao Cai highway, and has helped FPT Telecom, FPT Retail, FPT Play and VnExpress shift to digital transformation.