The Taiwan Banker

Digital transformation has become a hot trend, and not just in IT, data, and marketing. Following the recent expansion of AI capabilities, its use has gradually spread across industries. Continued technological transformation has given companies that can make use of AI a key opportunity. DBS Bank’s JIM AI system saves 80% of screening time DBS Bank has promoted internal digitalization, encouraging employees to integrate AI into daily tasks. For example, the HR department used AI to change its external recruitment practices, embracing innovation and improving productivity. Using AI data analytics, it created training and education tools, broadening the scope of DBS’s career planning and study tools. To increase recruitment efficiency, DBS launched the market-pioneering AI recruitment system Jobs Intelligence Maestro (JIM). JIM comes from a joint R&D project between Singapore’s Impress.AI and DBS’s talent recruitment group. The system focuses on DBS’s specific talent recruitment objectives. The system generates a suitability score after considering how applicants’ resumes and questionnaires align with the job description. The HR department said that JIM saves it around 80% of time filtering applications, easing the burden on staff time and increasing the value of work. The applicants can interact with JIM anywhere, anytime, and receive immediate responses from the chatbot feature. iGrow offers resume and training suggestions In addition to talent recruitment, DBS’s iGrow platform also uses AI and machine learning. iGrow analyzes employees’ backgrounds and training notes to produce advice, offering access to over ten thousand training courses, and also linking professionals, encouraging them to sample other internal job opportunities. Besides improving the efficiency of the HR department, iGrow can also help employees independently plan their own career development. Technology will not replace current jobs, but will rather increase employees’ self-improvement opportunities. As the uses of AI expand across functions, companies are placing increasing importance on AI skills, including prompt engineering and design of appropriate data analysis workflows. In the future, all functions will need to be able to work with AI. DBS is continually updating its digital recruiting to attract and cultivate excellent talent to integrate banking and technology. Because the requirements of the finance industry are strenuous, and job descriptions are increasingly diverging from those in other industries, publicly traded banks are actively evaluating whether to use AI for interviews. First Bank uses asynchronous AI interviews for some openings Multiple key banks are reevaluating related task streams after collecting useful industry information. First Bank Chairman Ye-Chin Chiou indicated that the management theme for this year is “Partnership for Progress and Sustainable Innovation.” First Bank has pushed for product digitalization and market innovation. In the future, it aims to continue increasing the momentum of innovation and transformation, consolidating the digital market, expanding its client orientation, and propelling service development. First Bank already uses asynchronous AI in interviews for some job openings, including MAs, project managers, program developers, and microservice engineers. AI can assist interviewers to better understand applicants’ personalities and increase the precision of recruitment. It can also assess language, tone, facial expression, body language, and mood characteristics to assist interviewers in the decision-making process. AI interviews can reduce recruitment time costs. In addition to increasing the number of interviews, interviewers can use the saved time to consider applicants’ abilities and personalities, and can also review the video record at any time. In addition, AI can provide more objective analysis of information beyond the resume, and provide job seekers with the convenience of setting up interviews at a time convenient for them. These reduced time and location constraints can increase applicants’ aspirations and improve their experience. Nevertheless, asynchronous interviews do not allow for real-time interaction with job seekers, or for group interviews. Questions cannot be adjusted or extended based on the answers. Mr. Chiou hopes that with the future development of more humanized and flexible AI technology, interview questions can be adjusted to simulate real-time interactions. In addition, AI interviews are a new type of interview process which requires continuous technological advancement and increased acceptance by businesses and the public before it can be more widely applied. At present, AI interviews are mainly used as a supplementary tool for in-person interviews. After the hiring manager has initially screened the resumes, they can then use AI to observe the applicants’ abilities and personalities in order to select candidates for physical interviews. First Bank also emphasizes the importance of interpersonal interaction and teamwork in recruiting. Therefore, in-person interviews are still an important step for interviewing supervisors, but AI can help enhance the precision of recruiting and reduce the number of departures caused by selection of unsuitable candidates, thereby reducing the turnover rate. Currently, First Bank only uses AI interviews for certain specialized positions such as IT, project finance, and MAs. It expects that with increasing maturity and popularity, it will subsequently be incorporated into the recruitment process for more positions. Hua Nan Bank: AI increases recruitment efficiency Yun-Peng Chang, Chairman of Hua Nan Bank, said that this year’s operational theme is “Digital Leadership, Diversified Returns, and Customer-Focused Sustainability,” with special reference to the customer-focused approach. As a financial service provider, treating customers fairly and protecting their rights is the basis for the bank’s growth. Therefore, this year, it has “started from the heart” to increase the quality of its services and become the first choice for its customers. Currently, Hua Nan does not use AI for recruitment. Besides certain special positions that require other selection methods, all recruitment includes written tests and interviews. It mainly entrusts TABF to conduct external recruitment examinations, including both written tests and interviews. Mr. Chang said that practical use of AI for interviews has not yet been popularized, and more information is needed to verify its abilities. The bank will continue to study the effectiveness of incorporating AI in the recruitment process to improve efficiency and assess the feasibility of its adoption. The advantage of AI interviews is the flexibility in time and place, as long as the interview is completed within the stipulated time. Not having to commute to the interview saves applicants time and money. In addition, the use of AI can reduce human interference and avoid subjectivity by the interviewers, providing a more objective and fair interview environment. Further, AI interviews can remove the need for staff to participate in first-round interviews, saving HR time and money. However, the drawback is a lack of flexibility. AI can automate interviews of multiple candidates, but it cannot respond to unexpected situations as flexibly as human interviewers can. In addition, it is unable to assess non-cognitive skills, such as emotional intelligence and teamwork. The lack of emotional communication may lead to a sense of indifference in the interview experience. Regarding AI interviewing, Mr. Chang said that AI interview systems should be fully tested and validated to ensure that it can reliably and accurately assess and select suitable applicants. Moreover, the system must be supported and maintained to resolve any problems and difficulties that may arise. It is important to comply with the relevant provisions of the Personal Data Protection Act during use to avoid leakage of applicants’ personal data. Furthermore, Hua Nan actively reduces the turnover rate of young employees by accelerating promotions, strengthening benefits, implementing performance appraisals, and providing complete training and favorable compensation. All non-supervisory employees (including new hires) who have been in the bank for five years or more are eligible to participate in Basic Talent Pool Assessments, in which they are scored based on three major components: performance, knowledge and work experience. If they obtain a set threshold number of points, they are added to the pool and will be promoted to the rank of junior supervisor in the head office or business unit according to the needs of the task. After becoming a supervisor, their annual salary will be NT$ 1 million, breaking through the seniority ceiling. Hua Nan has also implemented a personal grading system, encouraging staff to enhance their professionalism and strive for personal advancement in order to receive professional bonuses. At the same time, non-supervisory staff are also encouraged to demonstrate their performance and strive for promotion to supervisory positions to receive both supervisory and professional bonuses, which will significantly increase their annual salaries. Hua Nan has also implemented annual performance appraisals and comprehensive pre-employment training and counseling, and established a quality talent pool of new recruits. It strives for fixed salary adjustments for new recruits, and has increased the fixed salary adjustments after a certain period if the performance meets the requirements. It hopes that this multi-pronged approach will reduce the turnover rate of young employees. The author of this article is a media personality who has followed the financial sector for a long time.