Technology Management in the 4.0 Era: Overview and Market Demand

The 4.0 era has driven a strong convergence between management and technology, with key buzzwords that cannot be ignored: “Digital Transformation,” “Technology Integration in Management,” and “Enhancing Leadership Efficiency.” In this trend, managers and leaders of both public and private organizations must deeply and comprehensively grasp and apply technology in management. Addressing this practical need, UEH has organized the Live Talk “Management & Technology: Perspectives from the Public & Private Sectors in the 4.0 Era,” featuring a special discussion on “Technology Management” to find solutions for leaders to effectively guide their organizations in the digital age.

Enterprises are facing an urgent need for human resources capable of directing, coordinating, and managing technology strategies in the current digitalization landscape. These positions not only ensure that technological products meet market demands but also optimize business models for economic efficiency. However, a major challenge is the gap between management personnel—who understand operations and administration—and technology personnel—who are mainly specialized in technical aspects but lack a clear understanding of business management applications.

The Live Talk “Management & Technology: Perspectives from Public & Private Sectors in the 4.0 Era” by the University of Economics Ho Chi Minh City (UEH) will present unique insights from technology and management experts, including Dr. Trinh Tu Anh – Director of the Institute of Smart Cities & Management at UEH; Dr. Khuong Anh Dung – Head of Product Research & Development, IoT, Industry 4.0 at Bosch Global Software Technologies; and Dr. Nguyen Ba Son – Lecturer at the Institute of Intelligent Technology & Interaction at UEH, Coordinator and Developer of the Master’s Program in Technology Management.

Enterprise Operations in Digital Transformation and Leadership Mindset in Technology Management

Dr. Trinh Tu Anh: As the Head of Research and Product Development for Industrial IoT 4.0 at Bosch Global Software Technology—one of the world’s leading technology companies—what are your thoughts on digital transformation, the application of advanced technologies in enterprise operations, and the leadership mindset in technology management? How do you see the role of humans in technological activities?

Dr. Khuong Anh Dung: Currently, in Vietnamese enterprises, especially small businesses, tools like Zalo are often used for work communication. However, when companies aim for higher levels of development, these messaging tools often lead to scattered and hard-to-track information, resulting in data loss. Therefore, businesses need more professional management tools such as ERP or SAP to ensure comprehensive information management, prevent data loss, and provide secure data storage with customized access rights for different users. These technologies are widely adopted across various sectors, especially as IoT transitions to AI, supporting tasks from email drafting to translation. Additionally, while paper-based documentation is still common, data security has become more crucial than ever, especially with increasing governmental policies on cybersecurity. Businesses must manage their systems effectively to ensure information security while maintaining flexible access across different devices like phones and computers.

Regarding management mindset, once data is collected and managed through automation, leaders and strategists must think about how to apply these technologies effectively within their enterprises. In the past, technological development was gradual, but today, advancements happen rapidly within a few years. Leaders need to be flexible in adopting the right technologies and optimizing costs to achieve organizational goals. Moreover, with vast amounts of data available, the challenge is how to make accurate decisions based on that data. Data can come from people, processes, or AI cameras, and managers must analyze and evaluate it to develop long-term strategies. Finally, sustainable development is essential, as rapid technological changes require wise investment in technology to avoid wastefulness. In the VUCA era, predicting the future is difficult, but leaders must anticipate and make sound decisions to ensure sustainable growth.

Artificial Intelligence (AI): Its Role in Decision-Making from Training and Business Perspectives

Dr. Trinh Tu Anh: What is the role of Artificial Intelligence in decision-making and its contributions to education and training? What are the drawbacks of AI in management, and is there any truth to the speculation that AI will replace humans in the future?

Dr. Nguyen Ba Son: Today, AI applications in decision-making support have become a significant trend in management. AI processes large data volumes quickly and delivers precise results, enabling managers to make informed decisions efficiently. Additionally, AI automates processes, optimizes resources, and forecasts future trends, helping businesses understand market needs and customer behavior. AI also personalizes user experiences, improving products and services.

However, AI has limitations. First, it relies on pre-programmed data and algorithms, so in unforeseen complex situations, it may not provide accurate decisions. Data security is another significant issue. Despite AI’s critical role in decision-making, it cannot fully replace human judgment, creativity, and emotional intelligence. Therefore, AI applications should be implemented flexibly and appropriately to ensure effective decision-making.

Dr. Khuong Anh Dung: Although concerns exist about AI leading to job losses, many experts believe AI cannot fully replace humans. While AI processes vast data sources efficiently, only high-performance computing systems can handle such tasks, and not every company can develop AI models like ChatGPT. Developing and updating AI models requires substantial computational power, which may become feasible in the future with advancements in quantum computing and other technologies.

Nevertheless, AI has created new job opportunities, such as data scientists and AI engineers. Even prompt engineering—crafting instructions for AI models like ChatGPT—has become an official profession. AI not only generates new jobs but also improves human life by automating repetitive tasks. Instead of spending hours drafting documents, AI can accomplish these tasks in seconds, allowing individuals to focus on creative and higher-value work, thereby enhancing life quality.

Training and Developing Technology Workforce

Dr. Trinh Tu Anh: From a business perspective, what expectations and requirements do companies have for technology workforce training to meet market demands?

Dr. Khuong Anh Dung: Training must align with practical applications. Companies expect graduates to be job-ready and capable of applying their knowledge and technology in real-world settings. While gaps between academia and industry exist, universities are increasingly updating curricula with the latest technologies. The digital age has transformed education, with online learning platforms enabling access to global knowledge and expertise. Students today are already familiar with tools like ChatGPT, Microsoft 365, and Copilot, and universities integrate these technologies into their programs to prepare students for the workforce.

Observations show that 60-70% of students use ChatGPT daily, and many companies invest in AI tools for writing emails, drafting documents, and brainstorming ideas. Even if not widely recognized, these technologies are actively utilized, making them essential skills for students entering the workforce. Additionally, companies now expect graduates to not only be familiar with these tools but also to demonstrate critical thinking and adaptability in integrating AI into workflow optimization. Universities, in response, are focusing on interdisciplinary education, combining management, technology, and data analytics to equip students with well-rounded capabilities. This shift ensures that graduates are not only proficient in using technology but can also strategically apply it in decision-making and problem-solving within enterprises.

Challenges, Solutions, and Opportunities for SMEs in Technology Adoption

Dr. Trinh Tu Anh: Small and medium-sized enterprises (SMEs) often struggle to adopt modern technologies due to financial constraints. How can they secure funding for technological investments? Should they develop their own technologies or explore alternative strategies? When should SMEs recognize the need for technological transformation? Should graduates seek opportunities in large corporations or SMEs for better career growth?

Dr. Khuong Anh Dung: The distinction between small and large businesses is less relevant when it comes to technology adoption. Today, open-source tools provide cost-effective solutions for enterprises of all sizes. AI and machine learning have existed for years, but their accessibility has only recently expanded due to the availability of free and open-source tools.

SMEs must carefully select appropriate technologies based on their operational scale and business goals. While free software solutions like ChatGPT, Google, and Microsoft tools offer significant advantages, companies must prioritize security and proper implementation to maximize efficiency. Most users fail to utilize all the advanced features available on their smartphones—similarly, many businesses underutilize their technology investments. The key is strategic planning, persistence, and continuous learning to fully leverage digital transformation benefits.

Leadership commitment is critical. Many organizations possess advanced technological tools but lack the expertise to integrate them effectively. Digital transformation is not just about acquiring new technologies; it requires a cultural and operational shift. Training employees and fostering a tech-savvy work environment is essential for sustained success.

Becoming a Leading Technology Manager

Dr. Trinh Tu Anh: What are the key highlights of UEH’s MBA – Technology Management program, and how does it address market and societal demands?

Dr. Nguyen Ba Son: The MBA in Technology Management at UEH is designed based on real-world industry needs. It is an interdisciplinary program that blends management, technology, and innovation, equipping students with the necessary skills to excel in modern enterprises. The curriculum incorporates knowledge from top universities such as the National University of Singapore and MIT while leveraging UEH’s strengths in business and management education.

The program covers core subjects in management, including strategic management, human resource management, and quality management, alongside specialized courses in technology management. Students learn about AI, digital transformation, product development, and smart manufacturing. A diverse range of electives allows students to tailor their learning paths based on their career goals.

A key advantage of the program is its strong industry collaboration. Students gain hands-on experience by working on real business projects under the guidance of experts and corporate leaders. Additionally, international faculty participation ensures that students receive a global perspective on technology management. The goal is to develop future leaders who can drive innovation, optimize business operations, and lead digital transformation efforts effectively.

In the 4.0 era, the role of technology leaders and managers in enterprises has gone beyond merely overseeing technology; they are now shaping strategies and driving business growth. The integration of management and technology requires not only technical expertise but also a modern and flexible managerial mindset. Therefore, training and developing technology talent has become a crucial factor in ensuring business success in the digital age. As Dr. Trinh Tu Anh emphasized: “Leaders must be adaptable, innovative, and always willing to learn in order to fully leverage the power of technology in business management and development.”

Learn more about UEH’s MBA – Technology Management program here

– Institute of Intelligent & Interactive Technologies UEH