By the time most people are in their 20’s, they would have had the experience of attending at least one job interview. Interviews are an essential part of the hiring process for companies to ensure they are getting the right people not just for the job, but for the enterprise too. Now, many of the countries top Wall Street banks are turning to artificial intelligence to help them get the right person for the job.
Traditionally, an interview may have consisted of a brief, friendly, conversation discussing what the job entailed, rates of pay, and when the person could start. Nowadays, it is not so simple. The whole recruitment process can be a lengthy, long-winded process and employers are searching for all the help they can get to streamline this process and make sure they are getting the most for their money in hiring someone.
Some banks have been creating their software internally that will help their recruitment needs, and others have been turning to a Seattle-based company, Koru Careers, for their help in hiring the best candidates for their company. Koru Careers have developed software that tests a current employee of the desired company to identify characteristics of them that are important to the company. This creates a baseline for testing and is know as a corporate fingerprint. Potential applicants are then tested in the same way, and their results are compared to that of the current employee who will identify which candidates would be best suited to the company.
Morgan Stanley Citibank, UBS Group, and Goldman Sachs have all invested in using this technology as either part of their current recruit process or at least as a pilot scheme. Firms have recognized that traditional interviews do not always bring out the best in people and are keen to develop an interview process that captures all of a person’s qualities in one swoop. Hiring the person for the job can potentially cost firm thousands, so any help they can get is greatly appreciated.
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