Ase Study 2 Digital Transformation & Artificial Intelligence Topic Grow Inc.pdf

MINISTRY OF EDUCATION & TRAINING

VIETNAM NATIONAL UNIVERSITY HO CHI MINH CITYUNIVERSITY OF ECONOMICS AND LAW

CASE STUDY 2 Semester 2/2022-2023

DIGITAL TRANSFORMATION & ARTIFICIAL INTELLIGENCETopic: GROW INC

Lecturer: Mr Vu Van DiepClass code: 222MI5202

GROUP 6

Ho Chi Minh City – 2/2023

GROUP MEMBERS

2 Issues need to be solved 4

2.1 Strengthening capital 4

2.2 Improve employee performance when using Grow data 4

2.3 Fix some of the disadvantages of Grow 5

3 Evaluations of the solutions 5

1 State the objectives

Grow is a smart mobile application using AI technology that helps users assess theirabilities and connect to jobs that match their abilities and desires.

Grow is gradually creating the trust of customers, helping a lot in finding talent whilereducing labor for people Grow provides services that are not seasonal but rooted inobjective necessity.

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Employers always want to find and attract talents to their company Students whograduate with the desire to find a job quickly as well as other freelance workers presentgreat challenges to employers such as finding needles in the bottom of the tank, treatingsand to find gold Therefore, Grow is a very potential service model in the future with thedesire to apply AI in the field of human resources to help create objectivity in therecruitment process Grow helps their partners more accurately target groups with highpotential for advancement in the hiring process The greatest value of Grow is to help findtalented candidates who sometimes go undetected due to a lack of objectivity in the hiringprocess Besides, this also promotes the creation of 1 few further goals for yourself.

Grow moves to more potential markets, reaching out from Japan to western capitalistcountries where there is a strong demand for recruitment and human resources ready toapply through marketing campaigns Moreover, Grow continues to expand its user base,collecting more customer data to cover a wide range of different sectors, while increasing itsnear-absolute accuracy, taking steps in strengthening customer trust Grow aims to expandits services, develop to become 1 reliable employment broker for its clients and candidates

2 Issues need to be solved

2.2 Improve employee performance when using Grow data.

The human resource management department and the designated department headneed to be trained in Grow functions in order to correctly use Grow's data results, becauseAI can maintain bias and discrimination against the system Relevant parts of the

organization also need to be careful in how they use Grow to lead to the treatment of their employees, especially decision-making, because the results presented by AI remain asensitive, cynical issue in an organization Organizations, at the same time, need to partner with educators for educational/reinforcement strategies on the implementation of AI in human capital Grow needs to be trained in criteria such as educational

organization, nurturing creativity, employee satisfaction, etc under the proper supervision of the human factor with appropriate input data.

2.3 Fix some of the disadvantages of Grow

It is necessary to increase the data analysis capabilities of Grow’s AI engine tocreate objectivity in recruitment Improve the recruitment process and expand therecruitment criteria in the input database: Grow needs to be trained in characteristicssuch as knowledge, skills, experience, with accurate input data under the propersupervision/cooperation of the human factors.

3 Evaluations of the solutions

Option 1: Use Big Data to select human resources

Grow has used Big Data as an alternative to human intuition to develop a scientific, objective tool in the selection of human resources and constantly improve and develop itself This option is considered effective until now

- Save a lot of effort and resources:Amobile app allows students to "send" feedback to each other about different qualities and competencies and explore those personality traits through the ImplicitLink Test Revision (IAT)

- Perform complex data analysis:Grow attracts customers by paying attention to HR decision-makers at well-known companies and demonstrating IGS' technical prowess to perform complex data analyses of those companies' HR processes => Grow increased its user base from 2,000 in December 2016 to 74,000 in June 2017, a small but significant number

- Highly dependent on the data entered

- Inadequacies between the amountof information received between AI technology and personnel for employee recruitment

Option 2: Use unsupervised machine learning.

In order to power Grow's AI engine, IGS has developed a list of competencies and related questions that meet a number of specific criteria Then, offer a variety of ways to help evaluators accurately distinguish between levels to identify and assess candidates'

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competencies Each of those accessible competencies will be harnessed through a level rubric survey with six or seven questions (called "queries")

- Showing anomalies in behavioral patterns - Make better predictions about a user's personality traits.

- Results will be evaluated objectively, without emotional factors

=> Create trust, loyalty for customers

- Users will get feedback from multiple reviews, but each review does not have the same weight.- Some underlying causes may not be known

4 Recommendation

4.1 Recommendation

First of all, Grow needs to attract investment capital to implement its strategies Grow is interested in increasing the investment of cash capital to develop technology, increasing customer attraction with campaigns calling for investment capital, marketing campaigns on a more macro scale, focusing on innovation, meeting the needs of

companies in applying GROW to recruit personnel Grow will offer an active solution to delve into differences in technology, differences in the work cultures of different markets, the quality of the data provided, the cost of market participation, human oversight, and data privacy From there, creating trust, providing a basis to prove the level of success when Grow wants to expand the market in other QG through the above studies With its performances, Grow is catching the eye of investors and raising a large amount of capital is possible

Secondly, it is necessary for Grow to improve the recruitment process and expand the recruitment criteria Grow needs to be trained in the necessary characteristics with accurate input data under the proper supervision/cooperation of the human factor Employers and companies should learn to incorporate AI, they can train it to understand a specific mission and culture so that employers feel like they leverage these technologies as extensions of their teams, rather than replacements Due to their ability to collect, analyze, and learn from previously given data, IGS and clients can work together to design specific personalities as well as competencies (more or less than 25) for specific types of jobs such as engineering, sales, marketing, marketing, or human resources The

intelligent system then learns knowledge, skills, qualifications, experience, and any other job attributes and uses its algorithm to recommend clients on suitable recruitment criteria.

Thirdly, improving the internal performance of employees is also a proposal The human resource management department and the designated department head need to be trained in Grow functions in order to correctly use Grow's data results, because AI can maintain bias and discrimination against the system Relevant parts of the organization also need to be careful in how they use Grow that leads to the treatment of their

employees, especially in making decisions, because the results presented by AI remain a sensitive, cynical issue in an organization The human resource management department and the designated department head need to be trained in Grow functions in order to correctly use Grow's data results, because AI can maintain bias and discrimination

against the system Relevant parts of the organization also need to be careful in how theyuse Grow that leads to the treatment of their employees, especially in making decisions, because the results presented by AI remain a sensitive, cynical issue in an organization.

Finally, power the power of Grow's AI engine The expansion of the database is inevitable to help Grow improve its analytical capabilities to create objective use in the process of using the application Grow can do that by increasing the number of users participating in the survey, expanding the evaluation criteria given in the survey, performing a preliminary analysis of the opinions obtained to make Grow's operation easier.

- Increase uniqueness in the recruitment process.

- The diversity of opinions, opinions are given objectively.

- High reliability.

- Differences between theory and practice: Assessments collected from universities can sometimes be misleading because of several different standards.

- May lead to misleading results between candidates

- Reduce interaction between

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- Companiesincrease their talent pool by looking for potential candidates, saving time.

At the same time, it helps candidates figure out their abilities in the future.

− A user-friendly platform that attracts the

- Grow needs to play a greater role in focusing the strategy used with the most meaningful and less misleading effects due to some objective reason

− Kbossy may not be able to adapt to the Artificial Intelligence

technology that Grow brings.

- Generation gap, making it difficultfor previous generations to access advanced technologies such as Artificial Intelligence

- The risk of technology theft.- Need strict information security regime

4.3 Financial Analysis

Using artificial intelligence to sift through human intelligence financial analysis is an assessment of the stability, viability as well as profitability of a sub-business, business or project It is a process that is widely used to identify the financial weaknesses and strengths of corporations, this can be done by building relationships between the items of the profit & loss account and the balance sheet

It can be used to examine business practices from a diversity of perspectives to identify ways that can be used to enhance business and underestimate conditions or larger financial situations

The process of scanning financial statements to assess the relationship of disclosed items In other words, the analysis continues to focus on evaluating past performance in terms of profitability, liquidity, growth potential, and operational performance The analysis of financial statements involves the use of methods in interpreting and evaluating the results of current and past financial situation or performance as they relate to specific interest factors in investment decisions

Therefore, financial statement analysis is an important way to evaluate past performance as well as plan and forecast future performance Factors evaluated by financial analysts:

+ Cost: The fixed cost of developing an application is simply from $ 40,000 to $ 300,000, while with Grow - an application developed based on Artificial Intelligence technology can cost millions of dollars Also, the company needs to constantly develop applications and hire patchworkers and that will cost tens of thousands of dollars per month Besides, including the cost of hiring high-quality employees, good qualifications toinvest in work efficiency

+ Revenue: Depending on the number of customers trusting and using, the expected revenue can reach from $ 200,000 to $ 1,000,000 per month And Grow will grow even more and become one of the leading applications of Intellectual technology today.Moreover, revenue can also come from shareholders because Grow can be considered a thriving market in the future.

+ Profit: Financial analysts often evaluate an organization's profitability because of its ability to sustain growth and earnings in both the long and short term A degree of profitability of an organization depends on the income statement statement on the results of the company's activities.

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5 Implementation

5.1 Timeline

5.2 Resources Estimation

There are two resources: High-qualified employees and Budget

About employees: To develop and operate the Grow application effectively, it will take

about 25-35 people to work together and have a team to test the application first to help findbugs for the developer In which, there must be a team of mobile application developers,who design the application interface so that everyone can easily use it They are the bridgebetween the data programmers for the application and the user Besides, as the team ofdevelopers who build code for the application, they are the ones with absolute responsibilityand often focus on behind-the-scenes activities if any of the above activities occur on theapplication The third is qualityanalysts, who must develop plans and test cases, amongother assigned tasks Meanwhile, the responsible manager also plays an important role inkeeping everyone together on time and delivery.

About budget: Grow Inc should use the budget to improve product quality, in

accordance with the needs and tastes of users Hiring high-qualified employees to developsystems answering consumer needs In addition, investing in marketing and advertising to

Continue to expand the user base, collecting more customer data in MayMarch 2023

Increase cash capital investment to develop technology, increase customer attraction with campaigns calling for investment capital, marketing campaigns

on a more macro scale.

let more people know about their products, helping customers have a good shoppingexperience.

5.3 Contingencies

Investing in technology requires a large amount of money that Grow Inc may not beable to meet, in which case Grow Inc may issue shares, bonds, raise capital from partnersand other companies.

It is necessary to take advantage of the existing brand image with previous loyalcustomers Creating products that catch up to the times, with high quality at reasonableprices to attract users, build customer trust and enhance the company's position in theinternational market.

Grow Inc also needs to find more potential companies to cooperate with in the future

5.4 Risk Mitigation

Grow is one of the most popular applications today in creating a breakthrough inimproving human resource management strategies using software that incorporates artificialintelligence These tools have the potential to further develop the capabilities of yourworkforce while helping to attract and retain talent, increase productivity, and promoteorganizational flexibility Grow is also a very useful application for large companies orenterprises, so the risk is quite low However, the company always sets specific cases toavoid being passive when taking risks.

Firstly, Grow Inc needs to take corrective measures to prevent the risks brought by

nature

Secondly, the recommendation also needs to require Plan B, for example, if the result

is not produced according to the plan, the second set of recommendations must beincorporated in the plan, in order to allow the organization to quickly switch to plan B, inorder to avoid losses and maintain the company's presence in the market What's more,Grow Inc needs to plan to face consequences if an employer's information is disclosed,stolen, and has significant consequences.

Finally, although Grow Inc is considered the first enterprise in this field, businesses

should not be subjective, need to have constantly changing strategies, making a differencefrom competitors in the same industry and potential competitors in the future

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