Banks use AI to hire new employees
Young jobseekers watch a video that introduces how artificial intelligence technology bridges employers and jobseekers during the 2017 Leading Korea Job Festival at the COEX in Seoul, Nov. 20. Kookmin Bank plans to use AI technology to recruit new employees in the second half of the year for the first time in the banking industry. / Korea Times file
By Jhoo Dong-chan
Banks are starting to use artificial intelligence (AI) technology to recruit new workers to ensure fairness and reduce costs.
According to KB Kookmin Bank, Monday, the lender will hire 615 new workers in the second half of the year.
During the recruiting, the bank said it will use the AI system in its online interview to evaluate applicants more objectively, and the AI analysis data will be used as reference material for the face-to-face interview.
It is the first time for a commercial bank to use AI technology in the recruiting process.
“KB Kookmin Bank is looking for new talent with innovative ideas,” said a KB Kookmin Bank official.
“Of the 615 new employees, KB will recruit 200 workers specialized in the IT and digital fields, investment banking and wealth management. The decision is based on our belief that IT, digital, investment and wealth management are the bank's future growth engines. We will continuously enhance our workforce in these related fields.”
The move to use AI technology follows a series of hiring irregularities engulfing the nation's top commercial banks, and is expected to improve transparency in their recruiting processes.
According to the Financial Supervisory Service, 11 commercial lenders, including major banks such as Kookmin, Woori, KEB Hana, Shinhan and Nonghyup, were found to be involved in 22 cases of alleged hiring irregularities earlier this year.
Mired in the recruitment scandal, former Woori Bank CEO Lee Kwang-goo was indicted without detention in February. Also, DGB Financial Group and Daegu Bank Chairman Park In-gyu was arrested on similar charges more than a month after he resigned from his post in March.
KB Financial Group Chairman Yoon Jong-kyoo is alleged to have helped a family member gain employment with the group's KB Kookmin Bank.
“There have been mounting doubts about the lenders' recruiting processes. KB's move to use AI technology will improve its transparency,” said a commercial bank worker who asked not to be named.
“I understand other banks are strongly considering introducing the technology in their hiring processes.”
Separate from their recruiting processes, commercial lenders are also rushing to introduce “chatbot” services, computer programs using AI that conduct conversations via text.
Offering an automated teller and loan service 24 hours a day, the AI-based chatbot services are expected to gradually replace humans at banks.
In June, internet-only bank Kakao Bank started its chatbot service on the nation's top mobile messenger KakaoTalk.
Unlike existing chatbots on the market, Kakao Bank said its uses various images and video clips to help develop customer understanding. It also uses hashtags to deliver detailed information.
Commercial banks, including Woori, KEB Hana and Shinhan, have already introduced chatbot services.
In September, Woori Bank launched, Wibee Talk, for the first time in Korea. NH Nonghyup and KEB Hana Bank also rolled out similar services shortly afterwards.
Shinhan Bank, which integrated its numerous apps into one, the SOL, in January, inserted a chatbot service into the app.