Wall Street turns to AI for better new hires

Goldman Sachs, Morgan Stanley, Citigroup and UBS are exploring the use of artificial intelligence software to judge applicants on traits – such as teamwork, curiosity and grit – that help in the workplace but don’t always show up on a CV come through in an interview. Banks are turning to the hiring software at a time when they are under pressure to cut costs and finding it difficult to lure and retain top talent. Bank executives hope that artificial intelligence will help them avoid the expense of problem hires and turnover, industry sources said. “Up until this point, technology has only allowed you to find the best resume, but now it’s a way of truly understanding the people that are applying,” said Mark Newman, chief executive of HireVue, a video-interviewing…

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