2020 1^st KUBS DT DAY Successfully Held

KUBS held the 1^st DT Day to apply the changes according to digital conversion to education and research activities.

Hosted by Korea University Business School (Dean: Jae Wook Kim) and organized by the Center for Digital Transformation & Business (hereinbelow CDTB), the 2020 KUBS DT Day was held on October 23^rd (Friday). KUBS DT Day was held at the Supex Hall of LG-POSCO Building and was broadcast live on YouTube and Zoom, increasing the participation of various experts, industry officials and students who want to develop their digital competence. The event was organized in the order of two keynote speeches, the mid-term presentation of the Capstone Project which is participated by the Business Analytics (hereinbelow MSBA), the mid-term presentation of the Data Utilization Competition which is part of the University Innovation Support Project, and the general evaluation and awards ceremony. 

Professor Jae Wook Kim (KUBS Dean and head of CDTB Center) delivering the opening speech

Prior to the event, there was an opening speech by Jae Wook Kim, Dean of KUBS and head of the CDTB Center. "The era of digital technology in the 21st century has greatly affected our society and members' lives, which has made Digital Transformation (hereinbelow DT) essential and the general trend," said Dean Jae Wook Kim. He stated the purpose of the event by saying, "We established CDTB to share changes that take place outside of school with university members and apply them to education and research activities, and held this DT day." 

Keynote speech I : Surviving in the AI Era, Park Yoo-sung (Korea University Statistics Professor)

Following the opening speech, Park Yoo-sung, a statistics professor at Korea University, began the first keynote speech under the title ‘Surviving in the AI Era.’ Professor Park analyzed future job markets based on various AI trends such as data synthesis technology, automation, and real-time customer management. "In the future, most jobs will be replaced by AI and new jobs will emerge," he said and emphasized as the following, "We should try to have the proper skills to prepare for the AI era." "Individuals should learn SQL, and universities as well as companies should also strive to foster AI talent through the development of data science platforms and deep learning frameworks," he concluded his speech by emphasizing the importance of education.

Keynote speech II : Corporate Innovation in the Digital Era, Bae Jung-hee (Vice president of Deloitte Consulting)

Bae Jung-hee, vice president of Deloitte Consulting, continued by giving the second keynote speech under the theme of "Corporate Innovation in the Digital Era." Vice president Bae said, "Since 2016, all of the top five companies in the rank of market capitalization have been digital-based companies," and suggested "Zoom Out, Zoom In" as a ‘survival of the fittest’ strategy reflecting the era. She said, "This presupposes a big future and creates the future," and added "Only when universities provide this type of education can they effectively respond to this era when the life cycle of jobs has been shortened." During the Q&A session after the lecture, there was a question about how to change the members of the organization as agile (shrewd/nimble) individuals. "If we create and maintain an agile environment, individuals can change naturally," Vice President Bae said. She concluded her lecture by reminding, "Leadership is very important in creating such an environment."

MSBA students delivering the Capstone Project mid-term presentation.

In the afternoon, the MSBA Capstone project presentation was held. A total of seven teams participated in this presentation under the theme of △Development of Customer Life Style Segment △Estimation of Oil/Raw Materials Price Using Atypical Data △Weather Risk Index for SCM △Exploring the Post COVID-19 Response Market △Reviewing Efficiency of Electric Vehicle Charging Stations centered on the Rapid Charging Station in the Seoul Ministry of Environment △Activating Direct Delivery through Customer Experience Management △Analysis and Business Utilization of Genetic Data. Each team addressed business problems and presented solutions and strategies using real data. The presentation consisted of a 20-minute presentation by team, as well as Q&A and feedback session. Jeong Ran-sook, head of Lotte Members Division, and Lee Sung-ho, head of Deloitte Consulting Team participated as the Capstone project judge. Based on their experience, the two evaluators provided in-depth questions and feedback to presenters.

Afterwards, the interim announcement of the Data Utilization Competition, which is part of the university's innovation support project, was followed. The Digital Transformation in Business (DTB) Data Utilization Competition, which was held to strengthen students' ability to find problems in the DT era and to form a consensus among members of the school on DT, is a competition to discover creative business models and ideas on the problems currently faced by companies by utilizing data provided by public or companies. Presentation consisted of listening to a general review after watching the recorded video presentation of a total of 7 teams: △Sokkeulbeogjeog (online shopping mall automation), △Cloud Sound (AI music recommendation service) △Guangdong Fisheries (decision factor for accommodation facilities) △T.O.P (improvement of start-up consulting model) △miMO (improvement of highway weak section) △ Data-minators (early diagnosis of diseases) △Start-up (break-even point prediction service for 1 person start up) △Emba (Chatbot for public administration). Based on the selected topics, each team presented a detailed project development plan using research purposes and data.

Byung Cho Kim, Vice Director of CDTB, Introducing CDTB

After the interim announcement, Byung Cho Kim, vice director of CDTB, introduced the center and Baeho Kim, Associate Dean for Research, evaluated the presentations. "We saw considerable possibilities even though it was an interim announcement, and I think you can produce more advanced results if only a few things are supplemented by the final announcement," said Associate Dean Kim to encourage the students. In addition, specific team feedback was provided and Kim explained what needs to be supplemented.

Jung Ran-sook (Female), Lotte Members Division Head (Female) and Lee Seong-Ho, Deloitte Consulting Manager(Male) reviewing the interim announcement.

 In a subsequent review, Jeong Ran-sook, the head of the division, said, "I felt more than expected in terms of creativity and completeness. Some of the tasks were logical enough to be used directly in the field, so I was impressed." “Given the enthusiastic professors and school support, DT's future is bright”, she added. "I was surprised to see high-quality technical results in a short period of time," said manager Lee Sung-ho. "We will actively support the teams to solve business problems by using data and to  produce complete results."

Capstone Project Interim Announcement Lotte Members Excellence Award: Activation of immediate delivery through customer experience management, Kim Kyung-min-Kim Hyo-jeong team

Capstone Project Interim Presentation Deloitte Excellence Award: Oil/raw material price prediction using unstructured data, Joo Hyun-il and Ji Choong-geun team

2nd place in the interim presentation of the data utilization competition: improvement of the startup consulting model, T.O.P team

2nd place in the interim presentation of the data utilization competition: online shopping mall automation, Sokkeulbeogjeog team

After fierce competition, the winner of the MSBA Capstone Project's interim announcement went to the team of Kim Kyung-min and Kim Hyo-jung, who presented the theme of vitalizing immediate delivery through customer experience management, and the team of Joo Hyun-il and Ji Chung-geun, who presented the theme of predicting oil and raw material prices using unstructured data. In the Data Utilization Competition, the T.O.P team (5 members including Park Si-jeon) and the Sokkeulbeogjeog team (two members including Kim Bo-min) took second place. The honor of winning was given team Data-minators (Byun Joong-kyu and four others) on the subject of early diagnosis of Parkinson's disease using data and how to use wearable devices.

"It seems that although the event was held for the first time, it was a successful event with a high level of results," said Jae Wok Kim, Dean of KUBS. "I thank all professors, judges and students.” In addition, regarding the data utilization competition, he concluded the event by saying, "Through these studies, we will be able to produce meaningful papers with strong practical significance and take a step forward in the future, focusing on data." "We will continue to work together with various institutions to provide better experiences to students."

Meanwhile, Korea University Business Schooll established CDTB in 2019 to serve as a platform for connecting industry-academic research and leading the era of digital transformation in education and research and is planning and conducting special lectures related to this area.