By: First Union
How AI is Altering Modern Business: The New Job Interview
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Once upon a time, college career centers would instruct students regarding attire, job interviewing tips and resume/cover letter protocol. Today things look a bit different. AI has entered the job interview scene and it's changing the way that recruiting/hiring gets done. Now, more and more, prospective job applicants are going to have to figure out how to contend with an algorithm.
Increasingly, companies are turning to outside firms such as HireVue to help them parse through job applications. Generally what happens is that the third party firm will pose questions and record the applicants on camera. These recordings then are analyzed by algorithms in terms of everything from grammar usage to facial expressions. Based on the findings, the algorithm then determines what type of person a candidate is, i.e. team player, hard worker, and so forth.
While higher-level positions aren't subject to this type of AI-driven interviewing process, the lower level and entry positions are. This means kids straight out of college are essentially being used as guinea pigs. One of the problems is that counselors are uncertain as to how to help students prepare for this sort of interviewing. Should they be using keywords and phrases? Looking directly into the camera at all times? Avoid making specific facial expressions?
Companies though, like that firms such as HireVue can help them when it comes to sorting through hundreds of interviews. With a massive number of people interviewing for positions within a company, often it gets too difficult for anyone person or team for that matter to handle the hiring. The algorithms, according to those familiar with how they work, are quickly able to determine if an applicant is a right fit for a position. This ultimately saves the company a great deal of time and money. And as these are mainly entry-level jobs that candidates with little to no work history are applying for, AI is thus able to provide additional, needed information.
At First Union Lending we've worked with many businesses in terms of helping them integrate AI technology into the company's infrastructure. Our business loan programs are flexible and can be used for virtually anything. Call today to see how we can help you!