VNG Unveils 'Spark AI' Service, Aims to Lead Vietnam's AI Revolution
Vietnam's VNG Corporation is expanding its horizons with a new generative AI service, 'Spark AI', slated for late 2025. Backed by tech giants Tencent and Alibaba's Ant Group, VNG aims to integrate AI into its products and services, despite facing digital censorship challenges in Vietnam.
VNG, once a video game publisher, has evolved into a diversified tech group with 34 subsidiaries, including fintech, data centers, music services, and messaging apps. The company plans to incorporate AI into its offerings, such as voice assistants, game visuals, and facial recognition for campus entry. A key project is the development of a Vietnamese large language model for content creation, translation, and chatbots, with a ChatGPT-like service tailored for Vietnamese speakers on the horizon.
VNG's ambitious expansion has not been without financial strain. The company reported a loss of VND 650 billion (USD 26.8 million) in the first half of 2023, up from VND 390 billion (USD 16.1 million) in the same period last year. Despite heavy reliance on games for revenue (80%), with significant game royalties (VND 32 million in the first half of 2023), VNG remains committed to its global tech vision. The company aims to list on the US stock market, with an IPO filing on Nasdaq in August 2023, although its complex corporate structure and foreign investment restrictions may pose challenges.
VNG's 'Spark AI' service, supported by tech heavyweights, signals the company's intent to lead Vietnam's AI revolution. Despite financial setbacks and regulatory hurdles, VNG's founder and CEO, Le Hong Minh, is determined to transform VNG into a 'global technology company' based in Vietnam.
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