Digitization must enable new value creation for customers in BFSI market, delivering on expectations across the value chain.
Digital Transformation in BFSI
How We Made It?
Wondering how we turn technology into practical values for businesses? Explore the success stories here!
08 Aug 2022
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July came to close with many important tech news in global and Vietnam. From top companies like Google and Shopify to tiny startups vying for your attention. All latest has in our monthly technology news!
Denmark is the first country to visit if you’re looking for the highest digital quality of life anywhere in the globe. In a research published by VPN service provider Surfshark, Hamlet’s country came out among 110 countries based on 5 factors: internet affordability, internet quality, infrastructure, security and government.
It is not a surprise because Denmark has always been highly invested in technology and is very open to applying new technology to everyday life. The Danish government is also actively looking for technological solutions to put into operation. They’re doing well, despite many challenges as well.
Read more: Link
In its most recent upgrade, Google said that it would postpone replacing third-party cookies used for advertising until 2024.
“The most consistent feedback we’ve received is the need for more time to evaluate and test the new Privacy Sandbox technologies before deprecating third-party cookies in Chrome,” said Anthony Chavez, Google’s “Vice President of Privacy Sandbox”. “As developers adopt these APIs, we now intend to begin phasing out third-party cookies in Chrome in the second half of 2024.”
Cookies have powered much of the digital advertising ecosystem and its ability to track users across multiple sites to target ads. Google declared last year that it would end support for this practice in its Chrome browser by early 2022. However, they extended the deadline in June 2021, allowing the online advertising sector more time to develop strategies for more privacy-conscious targeted ads.
Read more: Link
The company announced recently that it laid off around 1,000 workers or approximately 10% of its global workforce. Before that, the Canadian company had more than 10,000 employees as Dec. 31, 2021.
Shopify was one of the biggest beneficiaries of the pandemic-driven e-commerce boom. As stores reopened and consumers resumed their pre-pandemic shopping patterns, Shopify and other companies in the e-commerce sector began to concern that they’d be unable to sustain the rapid growth they experienced.
CEO Tobi Lutke revealed in a note to employees that he had underestimated the length of the pandemic-driven e-commerce boom and that Shopify will be cutting some roles in light of a general decline in online spending.
Speaking at the “Blockchain in the digital transformation era” in HCM City, Mr. Huy Nguyen – the vice chairman of the Vietnam Blockchain Association, said: “With the explosion in blockchain technology and quick digital transformation, Vietnam has enormous potential for blockchain development to compete in the global market.”
The chairman of the World Blockchain Summit MARVELS and Korea CEO Summit, Mr. Park Bong-Kyu, concurred that Vietnam has a sizable blockchain community and a wealth of human and technological resources.
One of the world’s most extensive newswire distribution networks, Globe Newswire, based in the US, predicted that blockchain technology would have a promising future in Vietnam. As one of the top five blockchain-producing nations, Vietnam is home to roughly ten cutting-edge startups with a combined valuation of more than $100 million. Vietnamese entrepreneurs started seven of the top 200 businesses built using blockchain technology.
Vie, a virtual financial counselor, was introduced by Vietnam International Bank (VIB) – with an official music video titled “Vie is AI”. Vie was created using current cutting-edge technology like artificial intelligence (AI), machine learning, and 3D simulation.
According to the VIB spokesman, there were three critical processes in making Vie: developing appearance and personality, producing 3D characters from several sketches, and automatically modeling Vie using Hollywood-familiar technology like 3D simulation, facial capture, and motion capture. VIB is one of the first brands to apply Motion Capture in the process of building virtual characters in Vietnam.
According to the Ministry of Information and Communications, the revenues in the information and communications technology (ICT) industry reportedly totaled almost 77 billion USD, up 17% from the previous year.
The ministry set a revenue goal for the ICT sector of approximately 140 billion USD this year, an increase of 14% from last year. It projects that by 2025, the technology sector will contribute between 6% and 6.5 % of the nation’s GDP. By 2025 and 100,000 by 2030, Vietnam hopes to have 80,000 and 100,000 digital technology businesses, respectively, functioning in the country.
On July 15, at the Vietnam National Innovation Center (NIC) under the Ministry of Planning and Investment, the Google Career Certificates and Google for Startups: Startup Academy programs made their formal debuts. Through their collaboration, NIC and Google hope to give Vietnam the essential support for its digital transformation as it works toward its socioeconomic development target for 2021 to 2030.
Google and NIC are working together to provide 20,000 scholarships to Vietnamese students attending more than 40 colleges and vocational schools. On the online learning platform Coursera, the Google Career Certificates are made available to students with no prior experience or specific knowledge. It consists of five intensive courses on IT Support, Project Management, Data Analytics, User Experience Design, and Digital Marketing and E-Commerce. This is an opportunity for more people by facilitating access to digital job opportunities and supporting Vietnamese business owners to expand their enterprises.