Hello! I'm Jordan Parker Erb, filling in for Dan DeFrancesco this week as he's on vacation. Have you seen a lot of Alo accessories or Asics sneakers lately? These are just two of the status symbols men are obsessed with this year.
By the way, if you have time, Take Business Insider's surveyYour feedback helps shape the future of BI.
The big news today is how new AI tools Helping workers avoid interviews.
What's on deck:
But first, is it really cheating if there are no rules?
If this is forwarded to you, Sign up here.
The big story
New Interview Hacks
the It's really hard to find a job Now several years later Employees take the leadEmployers are once again gaining the upper hand and making sure applicants are aware of it.
In some cases, job hunting requires personality tests, on-the-job evaluations, Several interviews (Assuming you don't get ghosted along the way).
But with the arrival of AI tools and a new crop of startups, To simplify the interview process Business Insider's Rob Price writes that it can be effective for candidates to silently tell you the right answer to an interview question in real time.
Some people are developing home-grown AI tools to assist interviewers and making them available for free online. Some, like Final Round AI, are trying to take it mainstream.
Final Round AI, a startup that develops AI-powered tools for job seekers, offers an AI resume builder, cover letter writing services, mock interview tools, and, more controversially, Copilot, an app that eavesdrops on interviews and relays answers to interviewees.
The startup's CEO, Michael Guan, called it a “magic teleprompter” but made it clear he doesn't think it's cheating. And he's not the only one looking to AI to transform the interview process.
The use of artificial intelligence in job interviews has become the center of a heated debate in Silicon Valley.
Gamifying the interview process is nothing new: As Rob reported in 2022, some people even hire stand-ins to do interviews. A dangerous bait-and-switch tactic.
But the use of AI in particular is infuriating the industry.
Melia Russell of BI said: No one seems to agree on using AI chatbots in technical interviewsSome say they want to see candidates' capabilities without technological backing, while others say banning AI chatbots in interviews is like banning calculators in math tests: if employees can use technology at work, why can't they use it in the interview process too?
Melia's research shows that some startups are now adapting their tests to require applicants to complete tasks that are resistant to chatbots.
But for those who don't see AI assistance as cheating, that's irrelevant. Final Round AI CEO Guan told Rob that if candidates can use AI to excel in interviews, they should be able to use it to “perform at their best in their day-to-day jobs.”
Regardless of their opinion on AI-assisted interviews, several people who spoke with Rob and Melia said the industry's technical interview process is broken. As Rob writes, the question now is whether chatbots will change the technical interview process — for better or for worse.
Three things in the market
- Federal Reserve prepares for possible interest rate cutsPresident Joe Biden's top labor official told BI that the U.S. job market remains strong but is slowing, bringing about a “much-needed soft landing.” This has prompted the Fed to Confidence that a rate cut is needed in September.
- We'll introduce you to Brevan Howard's portfolio manager, who has the most capital. A lot has changed at the $35 billion hedge fund Brevan Howard since co-founder Alan Howard left in 2019. The company's top five portfolio managers They're part of a much larger and more diverse talent pool than when Howard was at the helm.
- TSMC Riding the Nvidia Hype to $1 Trillion. Taiwan Semiconductor Manufacturing Co. (TSMC), a semiconductor giant that is one of Nvidia's suppliers, At one point, its market capitalization exceeded $1 trillion. It rose 4.8% on Monday, as Nvidia surged this year, overtaking Apple. The second most valuable company in the world.
Three things about technology
- Personalized pricing makes it hard to pay. You might be willing to pay more for your seat on a plane than the person sitting next to you, and the airlines know it. In a world ruled by personalized pricing, I don't know if I'm being lied to.
- Real world robots. Startups are developing robots that can perceive and react to the human world, while venture companies are Spatial intelligence will be the next big trend in AIThe goal is to develop robots that can handle a variety of complex tasks, rather than a single repetitive movement.
- Are you there or are you a square person? San Francisco techies are ready to meet in person after pandemic-era lockdowns end. As they embrace in-person culture, startup founders, venture capitalists and tech workers are Spend time in 5 hot spots.
Three things in business
- A fraudulent scheme shattered an elderly man's retirement dreams. Leonid Shtein 70-year-old man scammed out of $300,000Despite his age, he was forced to start from scratch, something he blames on fraudulent transactions at Bank of America and a lack of government oversight.
- The turmoil following the Paramount-Skydance merger. Paramount's top executives insisted it was “business as usual” after the mega-media deal. But at the same time, The company notified employees of the impending layoffs. The company hasn't said who will be let go, but its next CEO continues to call the company a “technology company.” question his strategy.
- A sexting scandal has rocked the romance world and exposed the true identity of its most popular narrator. Known for narrating countless salacious audiobooks, Joe Arden has made a career out of seducing women with his voice. The sexting scandal turned BookTok against him..
In other news
Today's happenings
From the Insider Today team: Jordan Parker Erb, Editor, New York; Hallam Bullock, Senior Editor, London; Annie Smith, Associate Producer, London; Amanda Yen, Fellow, New York; Lisa Ryan, Executive Editor, New York.
