McKinsey CEO Bob Sternfels says AI is changing how the firm views the perfect job candidate (www.businessinsider.com)

McKinsey & Company has announced a shift in its hiring approach, driven by AI analysis of two decades of hiring data, as CEO Bob Sternfels revealed on the Harvard Business Review's IdeaCast podcast. The firm discovered that applicants who have overcome setbacks, demonstrating resilience, had a higher likelihood of becoming partners compared to those with "perfect marks." This insight has prompted McKinsey to adjust its candidate evaluation criteria, moving away from a narrow focus on academic credentials to encompass resilience and problem-solving abilities, crucial traits for successful leadership in consulting. This change is significant for the AI/ML community as it showcases the transformative potential of AI in redefining hiring practices within prestigious firms. By using AI to uncover hidden biases in their recruitment process, McKinsey is setting a precedent for how data-driven insights can enhance diversity and talent identification. The firm’s rigorous selection process remains intact, with McKinsey still hiring only about 1% of the 1 million applicants it receives annually, but now seeks to better identify and elevate candidates from various backgrounds who possess strong problem-solving skills, as assessed through innovative, game-based evaluations.