Artificial intelligence will hit Vietnam hard

Vietnam is among the top three ASEAN countries likely to face AI-related employment issues, according to a new study.
This research was conducted by Cisco, a multinational technology company, and Oxford Economics, a company specializing in global forecasting and qualitative analysis.
The research results were presented on Wednesday at the World Economic Forum ASEAN 2018 in Hanoi.
Naveen Menon, Cisco ASEAN Regional Director He said he investigated the employment of 28 million of the 630 million workers in six countries will be affected by AI.
Singapore will be the most affected at 21%, followed by Vietnam (13.8%), Philippines (10%), Indonesia (8%), Malaysia (7.4%) and Thailand (2%).
Mr. Menon said around 6.6 million of the 28 million workers are likely to be “laid off” over the next 10 years, meaning they will either change jobs, learn new skills or move to other countries. He added that he needed to look for a job.
“For example, Filipino workers will have to migrate to Vietnam because certain jobs are no longer needed there,” Menon said.
Cisco Vietnam CEO Luong Thuy acknowledged the potential impact and said the industry is leveraging technology to overcome challenges and seize new opportunities.
Vietnam’s low labor costs make it an attractive destination for foreign investors, but as the majority of Vietnam’s workforce remains unskilled, this advantage will only be realized over the next 5-10 years.
That could change, he said.
Cisco recommends that countries and companies provide opportunities to reskill employees and prepare them with “change-ready skills,” she added.