Artificial intelligence is easily one of the most popular buzzwords recently. It has not only entered the world of written science-fiction, but it also holds a promising evolution in technology for the next few years.
AI technology has undeniably made processes easier, with everyday life becoming smarter and faster. Since its launch several years ago, it is foreseen to have a significant impact on the Southeast Asian workforce over the next decade, according to a 2018 study by Cisco and Oxford Economics.
“Overall, the job landscape will look very different in 2028, because where the jobs are created is different from where the jobs are displaced,” says the report.
“Many sectors will experience a net increase in their demand for jobs by 2028, because the rise in spending power through increased productivity more than offsets the jobs directly displaced by technology,” it adds.
The study predicts that the sectors which will see the most significant increase in new workers are wholesale and retail (1.8 million), manufacturing (0.9 million), construction (0.9 million), transport (0.7 million), and hotels and restaurants (0.4 million).
Even with the expected changes in the future of the labor economy, PWC argues that with the right amount and tools for preparation, AI will encourage a positive gradual evolution in the job market.
Still, with the many ongoing studies about the effects of AI in every aspect possible, many researchers argue that Vietnam’s potential for adapting to AI applications is enormous.
What is artificial intelligence?
According to SAS Institute, maker of the popular decision-making program Statistical Analysis System (SAS), artificial intelligence (AI) – “makes it possible for machines to learn from experience, adjust to new inputs, and perform human-like tasks.” It equips computers with the ability to accomplish specific tasks by being able to process big chunks of data and recognizing patterns in them.
The term AI was coined in 1956, with the field being more about problem-solving and symbolic methods.
Take a look at how SAS has also highlighted the importance of AI in data analysis and network building.
AI automates repetitive learning and discovery through data. However, the technology is different from those which are mainly driven by hardware as well as robotic automation. Instead of doing tasks manually, AI can perform frequent, high-volume, computerized tasks with no fatigue. For this type of automation, human intervention is still needed to set up the system.
AI adds intelligence to existing products. AI is rarely sold as an individual application since it is commonly used to upgrade products to become AI capable. An example is how Siri was added to existing Apple products.
AI adapts through progressive learning algorithms to let the data do the programming. In this case, AI looks for structures and patterns in data that allows an algorithm to be a classifier or a predictor. This way, the models created could adapt when given a new set of data.
AI analyzes more in-depth data by using neural networks with many hidden layers. This is one of the major breakthroughs, as building a fraud detection system with many hidden layers was not possible a few years back.
The rise of big data and powerful computers has changed this and has enabled the training of deep learning models to become more and more accurate by feeding them with data.
AI achieves incredible accuracy through deep neural networks. For example, Alexa, Google Search, and Google Photos are all based on deep learning. This means that they get more accurate when they are used more often.
In medicine, for example, AI techniques are used to be familiar with and find cancer on MRIs with the same accuracy as highly trained radiologists can do.
AI gets the most out of data. With its algorithms set to learn more, the data it produces can itself become intellectual property. Answers could now be found in data with the help of AI, creating a competitive advantage for anyone who aims to have the best data.
How is AI in Vietnam today?
According to local firm RubikAI and G&H Ventures in their Vietnam AI landscape report in 2018, the country has a market of 96 million people with high internet and mobile penetration rate, a stable economic growth, and a sound tech talent base.
In surveying more than 30 AI companies, they found the top three drivers of the tech scene in the country: AI, the Internet of Things (IoT), and blockchains.
The launch of Ki-Ki last December 2018 is seen as an optimistic sign of how Vietnam could catch up with the ‘AI wave.’ The application will be used for research that aims to create sophisticated AI products for the Vietnamese people.
As well, just this January of 2019, several startups have begun advocating for the use of AI, eventually attracting intellectuals from all over the globe. On top of that, AI in Vietnam is seen to hold a lot of potential despite some challenges.
Although more people are AI more seriously now, Herve Vu Roussel, the current head of data engineering at AI firm Sentifi said, “Unlike San Francisco or Montreal, Vietnam’s AI scene just isn’t at its full potential yet.”
In Vietnam, as well as in the whole globe, one common explanation of what AI is includes machine learning. Through its practical examples such as face recognition, smart traffic cameras, agricultural product classification, handwriting recognition, identification cards, and voice recognition, among others.
Some tech companies which do not need machine learning capabilities or natural language processing can also easily create software. These companies can avail the services Google and pay for each service bought.
Along with other upcoming technologies, AI is favored by many Vietnamese enterprises just how they and their consumers appreciate blockchains, the internet of things, and even Siri.
How will AI change the way recruitment works?
In the daily life of a Vietnamese, smart traffic control systems, smart healthcare, fraud prevention, and energy saving are applications of AI we have grown accustomed to.
A 2018 study by Cisco and Oxford Economics saw Vietnam in 2028 to be a “vibrant mobile economy, driven by a large, young, and digital savvy workforce.” This assumes the establishment of a 5G connection in cities and rural areas covered by internet services.
In terms of the labor market, around 1.8 million jobs will be displaced from agriculture, manufacturing, and wholesale and retail. As a result, it will push the workforce to venture into other industries and occupations in the manufacturing sector, wholesale and retail, and hotels and restaurants.
The goal of AI is to be able to provide software that can work with input to explain output. While it can give human-like interactions and decisions with software, it is not a complete replacement for humans – not anytime soon.
“Augmented Intelligence, rather than totally replacing people at work, will be used to make them more effective. I think this may be the best use of AI for HR,” says Michael Haberman, an HR consultant.
AI for recruiting in Vietnam has several potential applications as preempted by the discussion above. Here are nine ways AI can change the recruitment landscape in Vietnam:
Automated Candidate Sourcing
AI developments now allow recruiters to automate their sourcing process while extending their candidate reach. This means that some software solutions will be able to analyze at least 300 million social profiles. On top of this, the technology will also be able to send personalized messages to candidates, keeping them well-engaged and in the pipeline.
In the usual methods of recruitment companies in Vietnam, they would have a database of candidates who have expressed interest in a job vacancy. In other cases, there would be many profiles from potentially interesting candidates that only end up being buried.
AI technology could screen existing candidate profiles and potentially find someone suitable for the role. The results it will show could also include a ranking of promising profiles which have been stacked months or years before.
When it comes to sourcing candidates, AI can improve employee learning and development (L&D) by allowing customizable programs to fit the needs of individual employees and optimize candidate experience.
With AI, it would be possible to track the activity of the candidate. It will also track their behaviors on your website, which could allow your system to send them content and messages which are in line with their interests.
Hiring Remote Workers
At present, hiring remote workers could pose several challenges, especially when the hiring and recruitment process needs to be done remotely as well. However, there are AI-powered tools that can make this process easier.
For example, pre-employment assessment tools could be used to assess a candidate’s personality, skills, and organizational fit. Video interviews could also be powered with AI to help assess candidates further.
Making use of the stacked or filed profiles from your previous hunt could mean more power for you in getting the best hires. Referred new hires are a commonly better cultural fit for your organization as they are more engaged, productive, and are less likely to leave.
AI technology can take this process to a whole new level. It can proactively pick out the best passive talents in the network of your employees and immediately engages the right employee to make a referral.
Natural Language Processing (NLP)
NLPs have been used by HR practitioners for several decades, most popularly through Boolean keyword searches to get good resumes. With AI, however, NLP can help classify, rank, identify, semi-automate, and deeply extract resumes for the best hires.
Another popular example of AI technology used by HR recruitment in Vietnam is a Chatbot which can answer customers automatically for almost 80% of inquiries on customer care. Its popularity in Vietnam is due to the Chatbots’ ease of use and because it has quickly become a world standard technology.
Facial Expression Analysis
While we have mentioned the use of AI in conducting video interviews for remote positions, doing so for non-remote candidates could save everyone the time and energy. It will also allow you and your team to review an interview multiple times.
What’s even better is that with facial expression analysis, a candidate’s expressions during the interview could be translated to capturing their moods, and an assessment of their personality traits.
Reflections for the future
AI is improving workplace productivity, but as it grows, it is also essential for organizations to continuously learn and adapt to evolving technologies.
If you still have not engaged yourself with AI technology, maybe the second half of 2019 might be a good time for you.
Here at Curran Daly and Associates, we help your company hire top candidates for your organization that are compatible with the technological changes you are aiming for.
With the fast rise of AI, we can give you executive leadership solutions that can guide you in investing in AI-driven recruitment technology.
We need to continue learning even in light of AI. We would love to work with you. Contact us here.
Chi, K. (2019). Vietnam has first AI-powered products. Retrieved from https://english.vietnamnet.vn/fms/science-it/215247/vietnam-has-first-ai-powered-products.html
CISCO, & Oxford Economics. (2018). Technology and the future of ASEAN jobs: The impact of AI on workers in ASEAN’s six largest economies. Retrieved from https://www.cisco.com/c/dam/global/en_sg/assets/csr/pdf/technology-and-the-future-of-asean-jobs.pdf
FPT Tech Insight. (2019). Vietnam AI landscape report 2018. Retrieved from https://techinsight.com.vn/language/en/vietnam-ai-landscape-report-2018/
Lam, K. (2017). The state of artificial intelligence in vietnam. Retrieved from https://vietcetera.com/en/the-state-of-artificial-intelligence-in-vietnam/
Min, J. (2016, October 17). AI for recruiting: A definitive guide for hr professionals. Retrieved from https://ideal.com/ai-recruiting/
Misal, D. (2019). Vietnam’s AI awakening: These 8 startups are putting the country on the global AI map. Retrieved from https://www.analyticsindiamag.com/vietnams-ai-awakening-these-8-startups-are-putting-the-country-on-the-global-ai-map/
Pavlou, C. (2019, May 27). How to recruit and hire remote employees? Retrieved from https://resources.workable.com/tutorial/hiring-remote-employees
PriceWaterhouseCoopers. (2018). AI will impact employers before it impacts employment. Retrieved from https://www.pwc.com/us/en/services/consulting/library/artificial-intelligence-predictions/employer-impact.html
SAS. (n.d.). Artificial intelligence – what it is and why it matters. Retrieved from https://www.sas.com/en_us/insights/analytics/what-is-artificial-intelligence.html
Verlinden, N. (2019, June 21). 9 intriguing uses of ai in recruitment in 2019. Retrieved from https://harver.com/blog/ai-in-recruitment-2019/