YellowBlocks Impresses at Tech Summit 2019: The Power of ABCD
YellowBlocks was honored to attend Tech Summit 2019 hosted by Nhip Cau Dau Tu (Business Review). YellowBlocks was represented by its key advisor, Mr. David Lang, and its founder, Ms. Doan Kieu My.
YellowBlocks was honored to attend Tech Summit 2019 on the morning of August 29th, 2019. Hosted by Nhịp Cầu Đầu Tư, Vietnam’s leading business content provider, the annual event brings together leaders in tech to discuss the future of digital transformation in business. This year’s event focused on the new era of ABCD technologies (artificial intelligence, blockchain, cloud, and big data) as the main factor to the future of business in Vietnam and around the world. YellowBlocks was represented by its key advisor, Mr. David Lang, who discussed the power of ABCD in unlocking the potential of data, and its founder, Ms. Doan Kieu My, who shared the story of YellowBlocks and the importance of connecting Vietnam to the global tech community.
Read more: What is ABCD Tech?
In embracing this new era when technology is shaping the future of business models and economic platforms, this year’s event was focused on the importance of ABCD technologies as key areas for business growth in the coming era. Leaders from various tech sector areas were able to share their insights to packed house full of hundreds of honored guests which included investors, technology experts, entrepreneurs, and representatives from major companies and organizations from Vietnam and around the world.
The morning began with intriguing presentations led by leaders in their respective sectors and concluded with a fascinating panel discussion titled, “Vietnamese Start-Up: A Way to Unicorn.”
Mr. David Lang describes the value of ABCD
The morning kicked off with a presentation by YellowBlocks’ key advisor and digital transformation expert, Mr. David Lang. David discussed the power of ABCD technologies in facilitating the digital transformation needed to build the next major unified data platforms. He explained that unlocking unified and real-time data will generate explosive revenue for companies and incredible advances for society such as early diagnosis for preventable conditions. However, such platforms are currently held back by technology limitations such as massive data requirements and major security concerns.
With the integration of ABCD solutions, these models can come to life. David broke down the fundamentals of ABCD tech in explaining how each contribute to making the world’s next major data platforms: A.I represents speed, blockchain represents trust, cloud represents universal access, and big data represents intelligence. By integrating each technology, companies can create these date platforms and produce new and exciting business models.
For business, real-time unified data can be used to unlock automation functions and enable them to fully understand the market needs of customers. For example, a unified data platform used to store and understand the real-time data of an entire customer base can automate directed marketing and make critical decisions to secure customers. By simply implementing parts of this platform, AT&T can now identify five billion security threats within ten minutes and their chatbot service, Charlie, has generated almost 50% revenue.
In regards to social impact, David gave the example of immediate and accurate diagnoses. With a quick scan, A.I can check one’s conditions against thousands of other records to provide life-saving diagnoses of practicably undetectable conditions.
In closing, David discussed the current movement towards digital transformation in Vietnam. Viettel, one of the largest telecommunications companies in the world, is bringing this new chapter of technology to Vietnam with its big data initiative. This is a major step towards global recognition for the company and for the country.
He also introduced about the ABCD Tech -an open community to connect all the tech lovers, especially in ABCD powered by YellowBlocks.
A bright outlook for tech investment in Vietnam
Another inspiring outlook for Vietnam came from Ms. Le Hoang Uyen Vy, a General Partner for ESP Capital Technology, who discussed the country’s optimistic future for technology investment. She explained that Vietnam is the fastest growing economy in Southeast Asia and within three years, the country had jumped from the second least active startup ecosystem in the region to the third highest. This major leap forward is largely thanks to a talented labor pool, a supportive government, corporate cooperation, and impressive investor funding.
And it looks like these trends will continue as key components of the strong digital economy are taking shape. There has been an incredible surge of interest from investors, especially from Korea. Within the first half of 2019, the amount of investors surpassed the entire amount from 2018 and Vietnamese startups raised a total of $246 million. And, more Vietnamese companies are approaching a valuation of $500 million and others are nearing a valuation of one billion.
Vietnamese Start-Up: Way to Unicorn!
After presentations wrapped up, eight local business leaders took the stage for the panel discussion, “Vietnamese Start-Up: Way to Unicorn.” Moderated by Mr. Nguyen Thanh Nam, Founder FUNiX University, the panel discussed their personal experiences in building startups and shared advice for startup growth in Vietnam.
A welcoming outlook for digital transformation and Vietnam
Tech Summit 2019 was a tremendous event filled with informative insight into the new era of business models fueled by advances in ABCD tech as well as encouragement for the future Vietnam. As an ecosystem leader committed to connecting Vietnam to global tech leaders, YellowBlocks is proud that it could contribute to the success of the event.
About YellowBlocks
Established in 2018, YellowBlocks is the first emerging tech ecosystem connector and consulting firm for Vietnam and the world. We have more than 100 partners and 80 advisors globally, with an extended reach of 100,000+ audience in the tech/ startup space.
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