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

Therefore, Grow is a very potential service model in the future with the desire to apply AI in the field of human resources to help create objectivity in the recruitment process.. Grow m

MINISTRY OF EDUCATION & TRAINING VIETNAM NATIONAL UNIVERSITY HO CHI MINH CITY

UNIVERSITY OF ECONOMICS AND LAW

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CASE STUDY 2 Semester 2/2022-2023 DIGITAL TRANSFORMATION & ARTIFICIAL INTELLIGENCE

Topic: GROW INC

Lecturer: Mr Vu Van Diep Class code: 222MI5202

GROUP 6

Ho Chi Minh City – 2/2023

GROUP MEMBERS

Numbe

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COMMENTS

Ho Chi Minh City - 2/2023 Table of Contents 1 State the objectives 3

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

4 Recommendation 6

4.1 Recommendation 6

4.2 Market Analysis 7

4.3 Financial Analysis 8

5 Implementation 10

5.2 Resources Estimation 10

5.3 Contingencies 11

5.4 Risk Mitigation 11

1 State the objectives

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

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

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Employers always want to find and attract talents to their company Students who graduate with the desire to find a job quickly as well as other freelance workers present great challenges to employers such as finding needles in the bottom of the tank, treating sand to find gold Therefore, Grow is a very potential service model in the future with the desire to apply AI in the field of human resources to help create objectivity in the recruitment process Grow helps their partners more accurately target groups with high potential for advancement in the hiring process The greatest value of Grow is to help find talented candidates who sometimes go undetected due to a lack of objectivity in the hiring process 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 capitalist countries where there is a strong demand for recruitment and human resources ready to apply 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 its near-absolute accuracy, taking steps in strengthening customer trust Grow aims to expand its services, develop to become 1 reliable employment broker for its clients and candidates

2 Issues need to be solved

2.1 Strengthening capital.

To develop technology, Grow Inc needs a large source of capital to attract customers through scaling and marketing strategies In addition, the money will help GROW

increase its investment capital to be able to improve its technology, as well as expand its database and develop more potential markets outside the world.

2.2 Improve employee performance when using Grow data.

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 to lead to the treatment of their employees, especially decision-making, because the results presented by AI remain a sensitive, 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 to create objectivity in recruitment Improve the recruitment process and expand the recruitment criteria in the input database: Grow needs to be trained in characteristics such as knowledge, skills, experience, with accurate input data under the proper supervision/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 Implicit

Link 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 amount

of 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 four-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 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 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.

4.2 Market Analysis

4.2.1 SWOT

- Authenticity: Work-related competencies

developed by Grow are based on extensive

social science research

- 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

employers and candidates

- Increase the ability to predict market

trends better than others.

- As the first company to offer this service, it

shouldbe able to resist the threats of

competitors and meet the value proposition

expected by customers

- The widespread interest of users and

companies gives Grow a large database of

users and growing institutional support.

- 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 difficult for 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 to invest 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 find bugs 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 bridge between the data programmers for the application and the user Besides, as the team of developers who build code for the application, they are the ones with absolute responsibility and often focus on behind-the-scenes activities if any of the above activities occur on the application The third is qualityanalysts, who must develop plans and test cases, among other assigned tasks Meanwhile, the responsible manager also plays an important role in keeping 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 develop systems answering consumer needs In addition, investing in marketing and advertising to

January 2024 Moving to more potential markets, reaching out of Japan to western capitalist

countries in May along with improving recruitment.

Grow must also work in parallel to improve the internal performance and quality of its members from management to employees through decision-making or

educational training.

April - August 2023 Continue to expand the user base, collecting more customer data in May

March 2023 Increase cash capital investment to develop technology, increase customer attraction with campaigns calling for investment capital, marketing campaigns

on a more macro scale.