Preparing for the Future: How AI is Reshaping Vietnam’s Job Market

As artificial intelligence (AI) continues to revolutionize industries worldwide, its impact on the job market is becoming increasingly apparent. A recent report by PwC highlights that AI specialist roles are now commanding wage premiums of up to 25% in several key markets, a trend that is also beginning to emerge in Vietnam. This article explores the implications of this trend for the Vietnamese workforce, highlighting the opportunities and challenges that lie ahead.

Global Trends in AI Specialist Wages

According to PwC's 2024 Global AI Jobs Barometer, the demand for AI-skilled employees has surged, with job postings for AI roles growing 3.5 times faster than for all other jobs since 2012. In countries like the United States, AI specialists enjoy wage premiums of up to 25%, with some roles, such as database designers and administrators, seeing premiums as high as 53%. The United Kingdom, Canada, Australia, and Singapore also report significant wage premiums for AI-related roles, although the percentages vary.

This global trend underscores the value that companies place on AI skills, which are essential for driving innovation and maintaining competitiveness in an increasingly digital economy. As industries continue to integrate AI technologies, the demand for specialists who can design, implement, and manage these systems is only expected to grow.

The Vietnamese Context: Opportunities for Growth

Vietnam, like many other countries in the Asia-Pacific region, is beginning to experience the ripple effects of AI's global proliferation. While the wage premiums for AI specialists in Vietnam may not yet match those in the U.S. or Singapore, the potential for growth is significant. A report by Amazon Web Services (AWS) suggests that workers in Vietnam with AI skills could see their salaries increase by more than 25% as AI adoption ramps up across various sectors.

This trend presents a tremendous opportunity for Vietnamese workers, particularly those in IT, research and development, and other knowledge-intensive industries. As businesses in Vietnam accelerate their AI transformation, the demand for skilled professionals will rise, creating new job opportunities and driving wage growth.

Challenges: Bridging the AI Skills Gap

Despite the promising outlook, Vietnam faces significant challenges in realising the full potential of AI-driven economic growth. One of the most pressing issues is the AI skills gap. According to the AWS report, while hiring AI-skilled talent is a priority for 81% of employers in Singapore, 74% of them struggle to find the talent they need. Vietnam is likely facing similar challenges as the demand for AI skills outpaces the supply of qualified professionals.

This skills gap poses a risk to Vietnam's ability to compete in the global AI economy. To address this, a concerted effort is needed from businesses, educational institutions, and the government to upskill the workforce and ensure that workers are prepared for the AI-driven jobs of the future. Initiatives such as the Gen.AI Hub at Ngee Ann Polytechnic in Singapore, which aims to equip students with AI and cloud computing skills, could serve as a model for similar programs in Vietnam.

The Path Forward: Embracing AI and Innovation

For Vietnam to fully capitalise on the opportunities presented by AI, a multifaceted approach is required. This includes not only expanding access to AI education and training but also fostering a culture of innovation and continuous learning within organisations. Companies must invest in their employees' development, offering opportunities for upskilling and reskilling in emerging technologies like AI.

Moreover, policymakers in Vietnam should consider implementing forward-looking strategies that encourage AI adoption while addressing potential disruptions in the job market. By supporting AI-driven industries and ensuring that the workforce is equipped with the necessary skills, Vietnam can position itself as a competitive player in the global AI economy.

Conclusion

The rise of AI specialist roles and the associated wage premiums represent both an opportunity and a challenge for Vietnam. As the country navigates this technological transformation, it must focus on bridging the AI skills gap and fostering an environment that supports innovation and growth. By doing so, Vietnam can unlock the full potential of AI, driving economic development, enhancing productivity, and improving living standards for its workforce.

Disclaimer:
The information provided in our blog articles is intended for general informational purposes only. It is not a substitute for professional advice and should not be relied upon as such. 
While we strive to provide accurate and up-to-date information, the ever-evolving nature of certain topics may result in content becoming outdated or inaccurate over time. Therefore, we recommend consulting with qualified professionals or experts in the respective fields for specific advice or guidance. Any actions taken based on the information contained in our blog articles are solely at the reader's discretion and risk. We do not assume any responsibility or liability for any loss, damage, or adverse consequences incurred as a result of such actions.
We may occasionally provide links to external websites or resources for further information or reference. These links are provided for convenience and do not imply endorsement or responsibility for the content or accuracy of these external sources. Our blog articles may also include personal opinions, views, or interpretations of the authors, which do not necessarily reflect the views of our organisation as a whole. We encourage readers to verify the accuracy and relevance of information presented in our blog articles and to seek professional advice when needed. 
Your use of this website and its content constitutes acceptance of this disclaimer.

Sources

• PwC, "2024 Global AI Jobs Barometer," May 21, 2024.

• Amazon Web Services, "Accelerating AI Skills: Preparing the Asia-Pacific Workforce for Jobs of the Future," March 9, 2024.

• Glassdoor, "AI Specialist Salaries in Singapore," February 3, 2024.