Driving Trust and Innovation in the Age of Cloud, Data and AI

Speaking at the opening of the workshop, Mr. Nguyen Thanh Son - Director of the Training Center - Vietnam Banks Association, shared: Data and AI (artificial intelligence) are the two most important keywords mentioned in recent times. This is a hot topic discussed at conferences, forums, and seminars at many levels and in many different sectors. According to Mr. Son, Resolution No. 57-NQ/TW dated December 22, 2024 of the Politburo clearly identified that data is the center of digital transformation, the "blood" of the digital economy, and an important driving force for development. The Resolution also proposed pilot policies, creating an initial legal corridor for promoting the development and exploitation of data.

In particular, Mr. Son emphasized that when it comes to data, we need to pay attention to 3 issues. First, how to ensure high-quality data, if this is done well, this will be an industry. Every industry, every field is interested in data to create new products. Second is data connection. We have data centers, data warehouses and anyone can create data, accumulate data. Without data connection, the responsibility of data will not be fulfilled. Third, it is extremely important, data is a resource and needs to be secured.

Developing and effectively exploiting data is one of 9 groups of solutions to implement the goal of digital transformation of the banking industry in Decision No. 810/QD-NHNN approving the "Plan for digital transformation of the banking industry to 2025, with a vision to 2030".

For AI, Blockchain, Cloud Computing are core data technologies. AI application requires data, relies on data, depends on data, Effective AI application will enhance the value and power of data. To innovate, we must also rely on data, master data technology. Currently, our banking industry is at the forefront of this trend because we have the advantage of holding a huge amount of customer data, which is financial data, transactions that are sensitive and meaningful if managed and used properly. Banks are currently actively applying AI in two main areas, which are (i) Data management and analysis for forecasting and business operations and (ii) Detecting fraud and money laundering risks for risk management and compliance. Another area that is also applying AI is Credit Risk Management, but mainly in the Fintech and Digital Banking markets.

Also at the workshop, Mr. Khai Chiat Ong - Partner, Data & Analytics, PwC Malaysia said that in 2024, 70% of CEOs believe that AI will be very important in the next 3 years. Over 82% of CEOs in the Pacific have applied AI and up to 58% of the benefits AI brings help improve employee efficiency. Business forecast in 2025, AI will introduce new strategies, catch up with trends to help companies achieve their goals...

Mr. Pho Duc Giang, Deputy General Director, Digital Services, AI and Security of PwC Vietnam, emphasized: “In the digital age, data and AI are not only supporting tools but also strategic platforms to help businesses improve their competitiveness. Effective data exploitation, combined with advanced technologies such as AI and cloud computing, can promote innovation, optimize operations and enhance risk management capabilities. Through this workshop, we hope to bring practical and strategic perspectives to help financial institutions build solid trust in a rapidly changing technology environment. The workshop affirms PwC Vietnam's commitment to accompanying financial institutions, supporting independent analysis and assessment and leveraging emerging technology trends to improve operational efficiency, comply with regulations and build trust in the digital age.”

In the midst of a strong digital transformation trend, the convergence of cloud computing, artificial intelligence (AI) and data is creating unprecedented breakthroughs, especially in the financial sector. According to PwC’s Southeast Asia Digital Banking Survey 2023, 60% of banks have built or are in the process of developing cloud computing capabilities, while 30% are in the early stages of planning and exploring this technology. This is a positive signal, showing that banks are accelerating the process of migrating applications and workloads to the cloud to improve scalability and increase flexibility in business operations. In addition, PwC's Global Compliance Survey 2025 also highlights the increasing application of AI in the financial sector, with 78% of organizations planning or having deployed AI for data analysis/prediction, followed by fraud detection and compliance/transaction monitoring (67%). This shows that AI is gradually becoming an important tool, helping financial institutions optimize processes, improve forecasting capabilities and manage risks more effectively.

At the workshop, leading experts in the technology field and senior leaders from the IT, Risk Management, Data Management, Internal Control, Compliance Control and Internal Audit departments of many financial institutions in Vietnam had a discussion session providing strategic and practical perspectives on the application of cloud computing solutions, AI integration and data governance, while exploring the link between innovation and trust - a key factor that helps organizations create sustainable value in the digital transformation journey.

VNBA News