Artificial Intelligence and Digital Transformation: How are Vietnamese Commercial Banks Creating Value?

Abstract

This study examines how artificial intelligence (AI) and digital transformation (DT) are reshaping the operational performance of Vietnamese commercial banks, while clarifying the role of banking governance in translating technological capabilities into sustainable business value. The study adopts a qualitative approach, combining structured content analysis and thematic analysis of annual reports, financial statements, corporate governance reports, sustainability reports, and other official disclosures published by banks during the 2018–2025 period. The findings indicate that AI and digital transformation do not, in themselves, generate efficiency; rather, the value of technology emerges from the interplay of process digitalization, data exploitation, automation, service innovation, productivity enhancement, and risk management. Notably, digital maturity, data quality, human capital capabilities, and governance quality create substantial differences in banks’ ability to translate technology investments into operational outcomes. The study argues that the progress of digital transformation in banking should not be assessed by the number of technologies deployed, but by the capacity to convert technology into tangible gains in productivity, service quality, and substantive governance capabilities. On this basis, the study proposes policy and managerial implications for advancing banking digital transformation in a manner that is effective, secure, and sustainable.