Investment in science and technology must be increased Identifying challenges According to Prof. Dr. Ngo Thang Loi from the National Economics University, Vietnam faces two major challenges in taking advantage of the wave of digitalization, artificial intelligence and other new technologies sweeping the world. First, Vietnam’s economy has low productivity, while the country doesn’t have world-leading economic groups or corporations, and scientific and technological applications remain poor. Therefore, the fourth industrial revolution might enlarge the development gaps between Vietnam and developed countries, unless the country adopts the right policies and thinking. Second, the fourth industrial revolution results in strong development of new technologies and robots. Accordingly, the way Vietnam intends to develop some industries, with the advantage of low labor costs, will be significantly affected. The development of science and technology can lead to mass … [Read more...] about Challenges of the fourth industrial revolution
The fourth industrial revolution
Viet Nam News Analyst’s Pick By Võ Trí Thành* The Fourth Industrial Revolution has not only had deep impact on all aspects of life but also rapidly changed the way businesses create and distribute products and services as well as the interaction between the market and the State. Võ Trí Thành In a hyper-connected world, advanced technologies like Internet of Things, blockchain and Artificial Intelligence have been transforming the traditional market, thus challenging policymakers to keep up with the pace. In order to ensure the digital economy truly promotes efficiency, innovation and development, it is necessary to develop policies and regulations to adapt to the market. We may agree in principle of regulatory policies and regulations. That ensures the spirit of innovation on the basis of healthy and fair competition, the overall socio-economic benefits, especially those of consumers, and the State’s interests. However, … [Read more...] about Keeping pace in the Fourth Industrial Revolution
Most of them cannot afford to prepare themselves for the wave of automation, or even worry about it. Quyen wakes up every day with the same routine: working until 6 p.m., rushing to her room to cook a quick meal with some vegetables and 150 grams of meat for both dinner and breakfast the next morning, and heading back to the factory to work overtime. Despite holding a teaching degree, the young woman from the northern province of Yen Bai chose factory life at the Bac Thang Long Industrial Zone in Hanoi as she could not afford the VND300 million ($13,200) needed to bribe herself into a school job back home. She still owes more than VND30 million of a social loan borrowed to pay for her college tuition. She hopes the factory job will help clear that debt. Vietnam's average annual income was around $2,200 last year. Many of Quyen’s co-workers are also college or university graduates, trained to use their academic knowledge to help the economy. But the only doors they found … [Read more...] about Will Vietnamese workers have a place in the Fourth Industrial Revolution?
However, what is the subject of much debate, is how the new technology-driven age could stand to broaden and deepen the inequality gap between those who possess the ability to prosper, and those untold millions of uneducated Vietnamese that don’t have access to quality education and hence won’t flourish in this new era. Then there are also the monumental issues surrounding the need to change current perceptions and raise awareness about the omnipresent importance of improving the education of women and girls throughout the country. It is short-sighted at best to think that an illiterate mother raising her children in a rural village in Vietnam will be able to benefit from the cutting-edge products or services being produced in the country in the new era, or that one of her daughters will be empowered to benefit without fundamental change being effectuated. In this age of ‘fake news’ in Vietnam it is all too easy for critical issues—such as the fact that … [Read more...] about Getting the Fourth Industrial Revolution right
(VOVworld)– Over 2,500 leaders from100 countries will convene at the 46th World Economic Forum Annual Meeting, from 20 to 23 January in Davos, Switzerland, themed “Mastering the Fourth Industrial Revolution”. At a press conference on Wednesday in Geneva, WEF’s President, Klaus Schwab, said that the 4th Industrial Revolution refers to the fusion of technologies across the physical, digital and biological worlds, which is creating new capabilities and dramatic impacts on political, social and economic systems. Critical current challenges, such as security, climate change, “new normal” global growth and commodity prices, are high on the agenda. … [Read more...] about World Economic Forum 2016 focuses on Mastering the Fourth Industrial Revolution