[Podcast] Technology management in the 4.0 Era: Overview and Market needs
2 September, 2024
Keywords: Technology management, Digital transformation, Business leadership, Artificial intelligence, Technology in management, Digital age management, Sustainable development.
The 4.0 era has been creating a strong convergence between management and technology, with those keywords that cannot be ignored: ‘Digital transformation’, ‘Integrating technology into management’, ‘Enhancing leadership efficiency’. Following this trend, Administrators and Leaders of public and private organizations and enterprises need to grasp and to apply technology into management in a profound and comprehensive way. In accordance with this practical need, UEH launched the Live Talk “Governance & Technology: Perspectives from the public & the private sectors in the 4.0 era” with a special discussion session for the field of ‘Technology Administration’ with the purpose of finding solutions for leaders to effectively lead organizations in this digital era.

Businesses are facing an urgent need for human resources capable of directing, coordinating and managing technology strategies in the current digital context. These occupation positions not only ensure that technology products meet market needs but also know how to apply technology effectively into business models to optimize economic indicators. On the other hand, one current big challenge is the gap between the management team – knowledgeable concerning operations besides administration and the technology team – mainly specialized in technology but do not clearly understand how to apply it to this business management field.
The Live Talk with the topic “Management & Technology: Perspectives from the public & private sectors in the 4.0 era” by University of Economics Ho Chi Minh City (UEH) will bring unique experts’ perspectives in the Technology and Management fields with the following experts: Dr. Trinh Tu Anh – Director of UEH Institute of Smart Cities & Management; Dr. Khuong Anh Dung – Head of Product Research and Development, IoT, Industry 4.0, Bosch Global Software Technologies; Dr. Nguyen Ba Son – Lecturer at UEH Institute of Smart and Interactive Technology, Coordinator and developer of the Master of Technology Management Program.
Business activities in the current digital transformation and leadership thinking in technology management
Dr. Trinh Tu Anh: As Head of Research and Development of Industrial IoT 4.0 products of Bosch Global Software Technology – one of the world’s leading technology companies, how does Mr. Khuong Anh Dung evaluate this digital transformation as well as the application of technology and high technology to current business activities? Can you please share more personal viewpoints regarding leaders’s thinking in Technology Management and human resource’ positions in technology activities?
Dr. Khuong Anh Dung: Currently, businesses in Vietnam, especially small businesses, often use tools like Zalo to support communication at work. However, when businesses target to grow to a higher level, these messaging tools often make information scattered and difficult to track accurately, leading to data loss. Therefore, businesses need more professional management tools listed as ERP or SAP so as to ensure comprehensive information management, to avoid document loss; in addition, all data is stored safely with different access rights allocated to each person. These technologies are, currently, being widely applied in various fields, especially in the context of the IoT shift to AI, which can assist both writing emails and translation. Besides, when the use of paper has been being popular, the issue of information security becomes more important than ever, especially when the state increasingly focuses on security policies in cyberspace. Therefore, businesses need to find ways to manage their systems so that information is secure, not illegally accessed and can be concurrently accessed from different devices listed as phones and computers in a flexible way.
Regarding management thinking, after obtaining metrics and automating data management, managers and strategic planners need to consider how to apply these technologies to businesses effectively. In the past, technological development took place gradually; nevertheless, in just a few years, the current technology has made very rapid changes. Therefore, leaders’ thinking needs to be flexible so as to be aware of which technology to apply to the business and how to optimize costs, ensuring the organization’s ultimate goals are achieved. In addition, in case of a lot of data, the problem is how to make accurate decisions based on that data. Data can come from people, processes, or from devices like Camera AI; consequently, administrators need to know how to analyze and to evaluate so as to come up with long-term development strategies. Finally, sustainable development is an important factor: as technology develops rapidly, businesses need to manage technology investments wisely in order to avoid waste. Although it is difficult to predict the future, especially, in this VUCA era, leaders need to be able to predict and to make the right decisions so as to ensure sustainable development for the business.

Dr. Khuong Anh Dung sharing a business perspective on the digital transformation story
AI: Its role in decision making from a training and business perspective
Dr. Trinh Tu Anh: What is the role of Artificial Intelligence in decision making and contributing to the training and education process? What are the disadvantages of applying AI to the management process? Will AI replace humans in the future as rumored?
Dr. Nguyen Ba Son: Currently, in management, the application of artificial intelligence (AI) in the decision-making support process has become a strong development trend. This results from the fact that AI has the ability to process large amounts of data in a short time and produce accurate results, helping managers make faster and more correct decisions. In addition, AI helps automate processes and optimize resources while predicting future trends, resulting in the assistance of businesses with better understanding the market and customer needs. Artificial intelligence also has the ability to personalize user experience, helping to develop services and products more suitable to customer needs.
On the other hand, AI has limitations. First, AI relies on pre-programmed data and algorithms; consequently, upon encountering complex or unforeseen situations, the algorithm may not be able to make the correct decision. Second, the issue of data security, as mentioned above, is a major drawback of artificial intelligence. Although AI plays an important role in decision-making and product and service development, it cannot completely replace humans in decisions that require creativity, flexibility and humanity. Therefore, the application of technology and artificial intelligence needs to be conducted flexibly and in accordance with specific conditions and circumstances to ensure that the decisions made are the most intelligent and effective.
Dr. Khuong Anh Dung: Although there are currently many concerns that the development of AI will lead to job loss or AI will gradually replace humans in decisions, in reality, this is not the case. Many experts believe that AI cannot completely replace humans. Although there is a lot of data and information available online, for an AI system to operate effectively, it needs to be able to process huge data that only powerful computers can handle. Therefore, not every company can develop a system like Chat GPT or similar AI applications. Building and updating AI models requires exceptional speed and power; in the future, with the development of quantum computers and other technologies, this may become more feasible.
Nevertheless, we have, currently, witnessed the emergence of various new jobs created thanks to AI. For example, the demand for data scientists and AI control engineers is increasing. Setting commands for AI like Chat GPT has become an official job. Therefore, it can be stated that the advent of AI not only creates many new job opportunities but also helps people have a better life by automating tedious and repetitive tasks. Instead of having to spend hours writing an essay or copying a document, these tasks, with the help of AI, can be completed in just a few seconds. This allows people to focus their energy on more creative and valuable work besides improving their life quality.

Dr. Nguyen Ba Son sharing his perspective in the story related to technology human resource training
Training and Developing of technological human resources
Dr. Trinh Tu Anh: From the perspective of businesses, what are the current requirements and the expectations for the training results and capabilities of human resources to meet and develop according to the goals that businesses have proposed?
Dr. Khuong Anh Dung: First, training must be linked to practice; in other words, the prerequisite requirement of businesses is that students, after graduation, can find jobs and apply the knowledge and technology they have learned in the business school environment. Of course, in the process of development and training, there will always be certain gaps. However, universities are currently making efforts to update and to apply the latest technologies. In the current digital age, the fact that all documents and books have been converted to online learning, as Mr. Tuan shared, allows students to learn through videos and access technology from other development or advanced universities. A simple example is ChatGPT: when it was launched, the number of visitors and users increased rapidly in just a few days while a typical business may need up to 20 years to achieve the same number. This proves that students, pupils, and learners can apply and use these technologies fluently as well as update the latest knowledge.
Businesses always expect that students will have basic knowledge to update and to apply technology when they graduate. As Mr. Tuan shared the virtual reality and the augmented reality, students need to understand and to know how to use tools like ChatGPT or Microsoft 365, and soon Copilot, so as to work effectively. These skills will be equipped by universities through Master or University programs, helping students access technology right from the time they are at university. Upon graduation, they will no longer be confused and can apply immediately to work. From my observations, students today have many opportunities to access modern technology. For example, learning English has made remarkable progress thanks to AI – a tool that helps them practice speaking directly without a native speaker. This is an example of students’ constant updates and ability to apply technology.
Through the cooperation programs with students, I have noticed that approximately 60-70% use Chat GPT every day. At businesses, employees also regularly use these tools and many large corporations are willing to pay high costs to apply them to daily work listed as writing emails, editing documents, or developing original ideas. Today, students have access to and use these tools a lot, even if, this reality may not be obvious. This knowledge is completely useful and can be applied immediately to the business environment. The use of new technologies, listed as Prompt Engineering, may not be clearly understood; in fact, it has become a part of daily operations. This is necessary knowledge that students can apply effectively in a business environment.
What are the technological challenges, solutions and opportunities for small and medium-sized enterprises?
Dr. Trinh Tu Anh: Small and medium-sized enterprises, which are more vulnerable, often have to lag behind in applying modern technology. How can they find financial resources to invest in new technologies? Should they develop their own technology or find other ways to stay competitive? In your opinion, when is the right time for these businesses to realize the need to make technological transformation? For students and new graduates, should they choose to work for large corporations or small and medium-sized enterprises to have better development opportunities?
Dr. Khuong Anh Dung: For businesses, distinguishing between small businesses and large businesses is not absolutely important because each business has its own characteristics. In terms of technology, it can be stated that, thanks to the widespread popularity of open source, this present time is far different from the past. 5 years ago, when AI was born, people used to be totally interested and excited about it. However, AI and machine learning have been around for a long time; nevertheless, only recently have they been applied more widely and popularly. The advent of free tools has greatly contributed to this.Nowadays, when our businesses make decisions, we need to consider the size and the operations of our business so as to choose the right free software. Of course, we must know how to choose software to suit our actual needs and to ensure security. Knowing how to use free technologies, listed as Chat GPT 3.5 or tools from Google and Microsoft, is very beneficial. In accordance with their capabilities, businesses can make the most of those technologies. The reality is that, today, very few people use all the features of smartphones or high-tech devices listed as AI cameras. Therefore, for small and medium enterprises, suitable and free technologies can be chosen, it is important to be persistent and to have a clear plan. Any decisions related to data or operations, for example, whether to use task management software, to-do list software, or text-to-speech, or text-to-video conversion, are available and easy to apply. Open source software, currently, is very rich and can be optimized for each specific field, depending on the capabilities of employees and experts in the business. With the strong development of modules, businesses can use available modules, combine and develop additional features to suit their needs. The important thing is not simply to optimize or to combine technologies, in fact, to persistently learn and use them. Administrators need to be knowledgeable and steadfast in the digital transformation process. In reality, digital transformation is a matter concerning not only tools or technology but also people. If people are not ready, easily discouraged or lack perseverance, they will not be able to take advantage of the benefits that technology brings. Many organizations and businesses, currently, have technology and equipment but they do not exploit it effectively, just like the way that we do not use all the features of smartphones, leading to no achievement of the maximum benefits.
Becoming a Top Technology Leader
Dr. Trinh Tu Anh: What are the outstanding features of the MBA – Technology Management program at UEH. Which requirements can this program meet the current market and society?
Dr. Nguyen Ba Son: Our MBA program in technology management is built based on the actual needs of the society and the labor market. This is an interdisciplinary, application-oriented training program to help students improve their own abilities to meet the needs of businesses and organizations. We have consulted advanced training programs from prestigious universities in the world listed as the National University of Singapore and MIT and combined them with the specific strengths of UEH.
UEH has long been an institute to train excellent Vietnamese administrators; therefore, the program is based on a solid foundation in executive management, human resource management, quality management, and strategic management. From that foundation, we add basic knowledge of technology management, listed as technology management, research and development in enterprises, and intellectual property exploitation management. In addition, students will learn technology-related subjects listed as artificial intelligence, digital transformation, research and development of new products, smart production in factories as well as various other elective subjects. These subjects allow students to choose according to business needs or personal orientation to develop necessary skills. The program focuses on providing students with a solid technology foundation, the ability to apply technology to management, innovation skills, and critical thinking.
We also work closely with businesses to give students the opportunity to participate in real-life projects with guidance from experts and business leaders. Furthermore, we do invite lecturers from foreign universities to participate in teaching in order to create the best learning environment, helping students develop their abilities and adapt well to market requirements. That has been the goal when we built this program.
Speakers at the discussion session on “Technology Management” in Live Talk Management & Technology: Perspectives from the public & the private sectors in the 4.0 era
In this 4.0 Era, the role of technology leaders and administrators in businesses has gone beyond pure technology management towards becoming those who shape strategy and lead the business development. Combining management and technology not only requires professional knowledge but also a modern and flexible management mindset. Consequently, training and developing technological human resources becomes a key factor, ensuring the success of businesses in the digital era. Dr. Trinh Tu Anh affirmed that: “Leaders need to be adaptable, creative and always ready to learn to make the most of the power of technology in business management and development”.
More complete information regarding MBA Master Program – Technology Administration can be accessed HERE.
News, photos: Expert group,Department of Marketing and Communications

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