MoMo wants to promote the development of AI technology

Within the framework of the program, MoMo’s representative had practical sharing about the application of AI technology in its platform, bringing benefits to tens of millions of users and thousands of partners. In addition, visitors to MoMo booth can also experience the fast and convenient facial recognition payment feature (Face Payment).

MoMo wants to promote the development of AI technology - Photo 1

A large number of customers visit MoMo booth at Vietnam Artificial Intelligence Festival 2022

This is the 4th year the program is held with the theme “AI revitalizing the economy, shaping the future”. AI4VN 2022 is a place for communities and businesses to better understand how AI technology has changed lives. The forum has the participation of leaders of governments, ministries, sectors, experts, domestic and international enterprises in the field of AI.

Within the framework of this seminar, Mr. Dang Hoang Vu – MoMo’s AI Director for Business Growth, shared the benefits brought to tens of millions of users when applying AI at MoMo. Accordingly, the application of AI technology always comes from the desire to optimize and improve the user experience.

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“MoMo applies AI in every touchpoint in the app. And if you ask what AI applications are for, our answer is also very clear: We apply AI to serve Vietnamese people, especially those who do not have access to a lot of technology or finance. In the past, when talking about AI, we still talk a lot about experts, about advanced technology, about spearheads. But what is that spear really for? It is to serve very ordinary people, who do not need to understand technology, do not need to be good at AI, but can still benefit from AI,” Vu said.

With the experience of paying by facial recognition (Face Payment), the MoMo super app’s booth attracted thousands of visitors. Visitors were excited to experience this fast and convenient payment feature. Many customers were surprised with the payment operation to buy attractive gifts such as helmets, umbrellas, cloth bags… which only took 3 seconds without having to touch payment, nor even need a phone.

Applying testing from the early years of the product (2014 – 2015), by 2018, MoMo started to focus on AI and Big Data research and currently invests about 20 – 25% of the total investment cost in technology. Currently, MoMo has almost brought AI into every corner of super-apps such as: Product recommendation system (Recommendation), preferential distribution, user protection… MoMo also enhances the integration of its AI solutions. themselves into products associated with external partners such as FastMoney – Quick Loan, Online Savings…

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