HCM City (VNA) – Global experts and business leaders underscored how data and AI are becoming strategic assets that drive competitiveness, profitability, and long-term resilience at the innovation forum held in Ho Chi Minh City on August 21 within the framework of the international innovation exhibition INNOEX 2025.

The event, jointly held by the Ho Chi Minh City Young Business Association, Business Startup Centre, and IBP Vietnam Co., Ltd. drew thousands of businessmen and international ventures.

Speaking at the forum, Deputy Director of the municipal Department of Science and Technology Pham Huynh Quang Hieu highlighted data as a strategic asset determining the competitive capabilities of both businesses and the whole nation, and data as a tool transforming scattered data into knowledge, thereby creating substantive values and innovation power.

If data are the raw material, then AI is the tool of refinement, while customer insight is the bridge that converts data into profit, Hieu noted, adding the integration allows businesses to capture hidden needs, personalise products, optimise costs, and build long-term trust with their customers.

ꦏ Ho Chi Minh City is mobilising its resources to drastically implement the Party’s Resolution No. 57 on breakthroughs in science-technology, innovation and digital transformation, aiming for the digital economy to contribute 40% of its GRDP by 2030. Achieving this vision requires businesses to adopt long-term strategies, build AI ecosystems across value chains, invest in human capital, and prioritise responsible and transparent practices that safeguard customer privacy.

Echoing the perspective, Managing Director and Partner at Boston Consulting Group (BCG) Il-Dong Kwon laid stress on the significance of data to businesses’ success while stating the greatest challenge lies in turning data into practical values.

Successful firms do not merely collect data but operate as truly data-driven enterprises, he said, adding data are valuable when they are transformed into business decisions, new services, and personalised experiences, requiring enterprises’ readiness for technology, human resources, and data-driven culture.

Sudeepto Roy from Qualcomm shared insights on AI innovation at the edge, emphasising the technology’s importance. Edge AI delivers efficiency, privacy, and instant responsiveness by deploying compact, specialised models directly on devices rather than relying solely on cloud-based systems, he said.

For AI to be truly useful, he said businesses must ensure quality data, continuously refined models, and compliance with industry standards and law.

ꦬ Meanwhile, Luong Duy Hoai, Founder of "Giao hang nhanh" and Ahamove recalled his opportunities during Vietnam’s initial e-commerce era, stating startups’ strategic assets lie in vision, technology, human, and the transformation of data and technology into competitive edge./.