Survey reveals firms remain inactive amid Industry 4.0

Business digitization is reckoned an irreversible trend in which data is the most valuable asset and benefits them in a simpler and faster manner.(Illustrative photo: manufacturingglobal.com)

The results of a recent survey by the Vietnam Chamber of Commerce and Industry (VCCI) point out that only 22 per cent of the questioned businesses in Vietnam said that Industry 4.0 has been affecting them while 32.7 per cent believed Industry 4.0 has yet to yield any impact on their business, but may do in the future.

The VCCI survey indicates only 6.6 per cent of the domestically-invested firms held that they have sufficient resources to shift from their current out-of-date operating system to a cutting-edge one in the future.

Meanwhile, 34.6 per cent of the surveyed enterprises said they will make step-by-step changes due to a lack of resources. Up to 27.5 per cent revealed they are in the process of mobilizing capital and resources for impending changes while 31.1 per cent admitted that they have so far done nothing to keep up with the Industry 4.0 trend.

Phi Anh Tuan, Vice Chairman of Ho Chi Minh City Computer Association

Phi Anh Tuan, Vice Chairman of the Ho Chi Minh City Computer Association, emphasized business digitization as an irreversible trend in which data is the most valuable asset and benefits them in a simpler and faster manner.

Digitization tools and platforms, including artificial intelligence, machine learning, and big data would help to analyse data more efficiently, Tuan further said.

"Information technology would enable enterprises to utilize state-of-the-art technologies in their production and business at cheaper and more flexible costs. Therefore, they need to take an active part in building up a common digitization environment and be willing to team up with others in the digital ecosystem.”

During a Hanoi seminar highlighting the ways of enhancing digital transformation for businesses on April 11, delegates made the same point that digital transformation could interpret pronounced effects and businesses are not exempt from such impacts.