case study grow using artificial intelligence to screen human intelligence

KEY ISSUES TO TACKLE Key issues AI products require a lot of data and they need to be valid data One of the difficulties they face is that GROW is viewed as an assessment application, so

UNIVERSITY OF ECONOMICS AND LAWS

Case Study

GROW: Using Artificial Intelligence to Screen

Human Intelligence GROUP 8

Class ID: 215M1I5202

Lecturers: Nguyén Thé Dai Nghia

Submitted by:

Doan Thi Thu Hoai - K214021478

Nguyễn Phương Anh - K214011421

Dương Thị Trà Giang - K214021476

Võ Thị Thương - K214020164

TABLE OF CONTENTS

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A OBJECTIVE

Helping businesses assess the ability and personality of candidates

Offer a tool to help students understand their strengths and weaknesses and assist HR

in recruiting

Towards the desire to help students develop

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B KEY ISSUES TO TACKLE Key issues

AI products require a lot of data and they need to be valid data

One of the difficulties they face is that GROW is viewed as an assessment application,

so for students, they may not be sure that GROW will help them get a better job in the future future than searching on the web

GROW cannot completely replace human resources (HR) working with leadership, creative thinking and innovation

There are different customers with different requirements Customers change, data changes, criteria change How can they manage and evaluate the system's accuracy? They need more talent to maintain and grow the business

Solutions

Try to collect as much data as possible by attracting more users to GROW applications Data used for AI needs to be up-to-date, honest and clean The best way to do this is to increase the number of users

GROW can make performance more reliable by incorporating software or adding functions that can help it do more in-depth analysis of their candidate If companies can see their candidates from different perspectives instead of judging, they will trust and rely on the application more

GROW should focus on the AI team: how to attract more talent, how to make the team

better

Come up with a clear strategy to test algorithms and discover if there is a mechanism

in your problem for which learning algorithms and algorithms work

C EVALUATE OPTIONS Option 1: Attract many application users

Evaluate:

This choice may be urgent with Grow To develop, they need to attract more customers

by giving customers many good options with high accuracy, so Grow needs more users and more data

One of the difficulties is that Grow is considered as a review application, so students may not be sure that Grow will help them find a better job in the future compared to the web pages

Option 2: Combining software or intensive analytical functions to be able to see candidates in different aspects

Evaluate:

Diversify functions at different levels and charge based on the function of the customer

needs This can make Grow more flexible and beneficial

Option 3: Focus on whose team

Evaluate:

This is also quite important for Grow at the moment Many talents help increase productivity and improve Grow application However, a Tencent researcher said that there were only 300,000 AI engineers around the world, while millions of people were needed Therefore, they need a strategy to attract talents that are suitable to compete with Google or Amazon

Option 4: Clear strategy for checking algorithms

Evaluate:

In order to ensure that anyone is safe and beneficial, people must learn how to measure the effectiveness of smart machines that do what people want, even if these machines

overcome human intelligence Especially who is used in hiring is the current trend, many competitors IDEAL, AVRIO AI Inc., Hirevue, .) that Grow needs to pay more

attention

I

D RECOMMENDATIONS Offer

Try to collect as much data as possible by attracting more users to GROW applications + They can increase the number of student users by linking and cooperating with

universities:

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Organize seminars, workshops/talk shows on assessing, recognizing and improving themselves, encouraging them to explore and discover hidden possibilities Show them that this process can be done in conjunction with technology, AI, GROW product introduction and the benefits they can get from it

Combined with marketing and advertising programs Give them small gifts when they complete registration and rate themselves on GROW, offer incentives, earn rewards when they use GROW to rate friends and when they refer friends use GROW Show the benefits that GROW brings such as:

e They can evaluate their own strengths and weaknesses so that they can improve to match the employer's criteria

e The potential that the company can see you even before you know about the company

«* Note: Check the data source, control the input by authenticating the user, make sure that the user is not fake or duplicate:

To ensure one user, one account, GROW can use facial recognition, voice recognition,

data analysis, geolocation, etc

Detecting overconfident individual judgments through assessment time, etc Check finger movements to calculate the correctness for answers, etc

This proposal solves the problem

GROW in particular and AI products in general need a large amount of data, the data must be constantly updated and it is required to be valid and authentic data That is, it is necessary to ensure the accuracy and quality of data — clean and useful data In particular,

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they need to identify the data source, build a linked, transparent, clear, and smooth data

system As well as the need to prepare the necessary and growing amount of data for good and high accuracy assessment As of June 2017, the number of GROW users is 74,000 This is a small percentage compared to Japan's roughly 650,000 annual university graduates, GROW still has plenty of room for their database

SWOT Analysis

1 Strength:

+ Brand Strength and Brand Awareness - Artificial Intelligence has some of the most recognized brands in the domestic market in which the company operates High Margins - Artificial Intelligence charges higher fees than competitors First mover advantage - Artificial intelligence has the first mover advantage in terms

of number of segments

Solid domestic market in which AI operates - The domestic market in which AI operates is both a source of strength and a barrier to growth and innovation for the company

Artificial Intelligence's Diverse Product Portfolio - Artificial Intelligence's products and brand portfolios allow the company to target different segments of the domestic

market at the same time

2 Weakness:

+ Organizational Culture - It seems that the organizational culture of Artificial Intelligence is still dominated by turf wars in different departments, leading to managers keeping information tightly in their chests surname

Low Return on Investment - While Artificial Intelligence is enjoying a stable balance sheet, one metric that should be reflected is “Return on Invested” Project management is too focused on internal delivery rather than considering all the interests of external stakeholders This approach can lead to poor public relations

and customer backlash

+

Implement Technology in Process - Although Artificial Intelligence has integrated technology in backend processes, it still cannot harness the power of technology in user interface processes

Lack of critical talent - I believe that Artificial Intelligence is lacking in critical talent, especially in the field of technology & digital transformation Artificial Intelligence is struggling to re-engineer processes in light of developments in the field of Artificial Intelligence (AD and machine learning

3 Opportunity:

+ Access to international talent in the global market - One of the challenges facing Artificial Intelligence today is that access to the high-level talent market is limited because of a limited budget International expansion can help AI reach the international talent market

Evolutions in Artificial Intelligence - Artificial Intelligence can use the growth of artificial intelligence to better predict consumer needs, cater to niche segments, and create innovative technologies better recommendation tool

Reduce costs of market entry and marketing into international markets - According

to Ethan S Bernstein, Paul D McKinnon, Paul Yarabe, globalization along with the

explosion of digital marketing and social media has significantly reduced the risk of entering the market and marketing in the international market

Increasing Consumer Disposable Income - Artificial Intelligence can use growing disposable income to build a new business model in which customers begin to pay gradually to use products

Opportunities in Adjacent Markets - Artificial Intelligence can explore adjacent industries Marketing, Organizational Culture, Talent Management for further market growth, especially by expanding its features and current products and services

E-Commerce and Social Media Driven Business Model - An E-Commerce business model that can help Artificial Intelligence engage with local suppliers and logistics

providers in the international market economy The growth of social media can help Artificial Intelligence reduce the cost of entering new markets and reach customers with significantly lower marketing budgets It can also lead to crowdsourcing of various services and consumer-oriented marketing based on data and purchasing

behavior

4 Threats:

+ International Geopolitical Factors - Since Trump's election, geopolitical factors have replaced growing protectionism Developments such as Brexit, Russia sanctions, foreign exchange crisis and inflation in Venezuela, falling oil prices, etc are affecting the international business environment Artificial intelligence should closely focus on these facts and make them an integral part of the strategic planning process

+ Protectionism is on the rise - Artificial intelligence should hedge against growing protectionism, from storing data into international markets to diversifying risk by operating into countries in different economic cycles

+ US China Trade Relations - Artificial Intelligence has focused on China for the next phase of growth However, there is increasing tension between the US trade relationship with China and it could lead to protectionism, more rubbing into international trade, increasing costs both in terms of labor costs and business costs + Middle class imposition in developed and developing countries - Growing inequality is one of the biggest threats to not only globalization but also to capitalism The first artificial intelligence saw its impact when it noticed lower demand for its products from middle-class customers in the US and EU markets + Increased cost component of working in developed markets due to environmental regulations - Artificial intelligence has to deal with these costs as governments are trying to tax the environment higher to promote cleaner options For Artificial Intelligence, it can lead to higher logistics costs and higher packaging costs

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IV

+ Government Regulations and Bureaucracy - Artificial Intelligence should keep a close eye on government regulations that are changing rapidly under increasing pressure from protest groups and NGOs, especially with regard to environmental and occupational safety aspects

Five Forces

Competitive rivalry

The competition among the firms helps in identifying the lucrativeness of an industry where companies are competing hard in order to maintain their power within the industry The GROW Using Artificial Intelligence to Screen Human Intelligence competition is moreover on the basis of diversity, the development within the sector and the barriers related to entrance in the market The competitive rivalry is the analysis

of the brands and the product, its strengths and weaknesses along with the strategies, competitors and the share in the market

Threats of new entrants

It is in the favor of the companies that exist in the market to create barriers for the new entrants to prevent them from entering into the industry The organizations could

be the new companies or the companies that are planning to diversify themselves in the market The barriers can be both industrial and legal Apart from this the size and the reputation of the companies that are already operating in the market also play an important role Furthermore the cost related to the entry, access to raw materials, barriers related to culture and technical standards also play a major role and can affect

the decision of the new entrants in the market

Threats of substitute

The GROW Using Artificial Intelligence to Screen Human Intelligence substitute products are alternatives that are available in the market at comparatively better prices Such products prevail due to technological and innovative advancements Due to which

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