Top areas likely to make breakthroughs after the disease

23-Apr-2020 Intellasia | Nhip cau Dau tu | 7:08 AM Print This Post

Catching the changing trend of the market and consumers, many fields would make a breakthrough.

Artificial intelligence in biology would shine

In early February, when COVID-19 was spreading wildly in the city of Wuhan (China), early detection of isolated cases was a major challenge for the medical team. To solve this problem, the Alibaba Group teamed up with the Damo Academy of Technology to develop an artificial intelligence (AI) patient recognition system. It took only 20 seconds to detect an infected person with an accuracy of up to 96%.

This result was thanks to Alibaba’s analytical system through an algorithm that compared the human body with data on more than 5,000 previous disease samples and provided estimates to identify the existence of the virus causing acute pneumonia. Also, Alibaba applied AI to decoding the genome of the virus at a rate many times faster than traditional approaches.

Therefore, the post-COVID-19 period could stimulate capital flows into biotechnology and AI technology. According to Harvard Business Review, AI systems allowed for more accurate analysis of biological structures, bringing about the level of processing on a large volume of data. Incorporating AI into biotechnology promised to help control and prevent future outbreaks of similar pandemics. SoftBank’s Vision Fund said biotechnology was the next trillion-dollar market with many great breakthroughs expected.

Accelerated retail and online delivery

The COVID-19 epidemic had dramatically changed consumer shopping behaviour. According to a survey by Nielsen Vietnam, for the first time, the number of people shopping in supermarkets and markets of urban dwellers decreased by 50%. In comparison, online shopping suddenly increased by 25%.

The number of transactions through e-commerce sites had skyrocketed. Online retailers such as Tiki, Lazada and Shopee recorded an average increase of at least two times to four times a day. Co.opmart’s online shopping service increased four times to five times in the same period. Catching this trend, the ride-hailing company Grab had launched GrabMart or Mobile World to introduce products shopping for customers, including even fresh food.

The online retail market, although growing rapidly in the past few years (an average increase of 39 percent in five years), was higher than the growth of the traditional retail market, at 10%, accounting for less than four percent of total retail sales in Vietnam. But COVID-19 might be the catalyst that helped the consumer market and online delivery faster grow.

Swiss bank UBS once predicted that the global home delivery industry would grow about 20 percent annually. By 2030, the size of the market would increase from $35 billion to $365 billion.

Fintech boom

In order to limit the spread of SARS-CoV-2 virus, the government had early recommended that people limit payment in cash, while the State Bank of Vietnam (SBV) had disinfected the entire vault to prevent spread. Feeling insecure because the virus could exist on the money surface, many people had turned to online payment. As a result, since the beginning of the year, payment flow through online channels such as internet banking or e-wallets had skyrocketed.

Nevertheless, this wave was expected to grow even stronger as users would rely more on the quality of service, speed, safety and cost-effectiveness that the platform brought. According to a recent JPMorgan report, about 19 percent of the value of e-commerce transactions in Vietnam was being carried out via e-wallets.

That was on par with cash payments, behind card payments (34%) and bank transfers (22%). Vietnam currently had about 45 million bank accounts, equivalent to 50 percent of the population. In the context of COVID-19 raging, strong acceleration opportunities were opening for companies providing e-wallet services, especially five brands holding 90 percent of the market share (Payoo, MoMo, AirPay, Moca, FPT).

Green real estate took the throne

Raging epidemics reflected increasingly polluted habitats. Therefore, after the outbreak was over, the quality of the environment, green utilities, technologies and building materials that were friendly to nature would be particularly interested.

The next generation of buildings must be designed to be greener, more sustainable in value, integrated with technologies to save operating costs and breakthrough designs to attract buyers. The awareness of green and healthy living also provided opportunities for the second home market, helping this market recover and even explode in localities with potential for tourism in the future.

The office segment was a new trend that could reshape market trends. Tenants might appreciate more flexible working methods, such as renting a co-working space or distributing workforce to offices in different areas of the city.

Duong Thuy Dung, Senior director of Commercial Real Estate Services (CBRE) Vietnam Consulting Corporation, shared, tenants were also starting to pay more attention to the health of their employees by choosing the office in high-quality buildings instead of saving money as before. Buildings tat reached Leadership in Energy & Environmental Design (LEED) converged all the elements of the environment, opened space to ensure air and light to work. Besides, energy saving would be more focused in the future.

 

Category: Business, Vietnam

Print This Post

Comments are closed.