AI in recruitment is having a moment. After the initial hype, today’s headlines are full of AI missteps—“AI suggests eating rocks!” “Use gasoline for spaghetti!” It’s easy to dismiss AI as overhyped, especially when the media focuses on its failures.

But beneath the noise, industries like financial services are quietly adopting AI to deliver real results. 

Recruitment teams are seeing measurable improvements, like cutting time-to-offer by 75% and improving hiring quality.

At Oleeo, we’ve seen this firsthand. But we wanted to go beyond anecdotes and understand how AI is truly shaping financial services recruitment. So, we partnered with Aptitude Research to survey 100+ HR and TA leaders in the field.

Here’s what we uncovered—and why it matters for your team.

The State of AI Adoption in Financial Services Recruitment

Financial services recruitment is notoriously competitive. If your competition is using AI to gain an edge and you’re not, you need to know what they’re doing differently.

And if you’re already using AI, the findings from our study can help you assess whether you’re focusing on the areas where AI delivers the most value.

Here are five of the most surprising insights from the report—and what they mean for your team:

1. Executive Buy-In Is Growing—but It’s Not Enough

  • 60% of HR and TA leaders report active executive support for AI adoption.

While this is promising, it also means 40% of leaders don’t yet have their leadership fully on board.

To drive adoption, focus on measurable benefits that matter to executives, such as improving quality of hire, increasing efficiency, and enhancing diversity. Building a clear ROI case can turn hesitant leaders into advocates.

2. AI Delivers Cost Savings Where It Counts

  • 65% of companies using AI report improved cost per hire, compared to just 39% of non-AI users.

This finding highlights AI’s potential to produce real financial benefits. For teams just beginning their AI journey, focus on tools with measurable ROI, such as resume screening, candidate scoring, or scheduling automation. These tools don’t just save time—they reduce costs and improve outcomes.

3. Half of Recruiters Are Still on the Fence

  • 49% of companies are either not using AI or still in the planning phase.

This split means financial services recruiters fall into two distinct groups: those leveraging AI to gain a competitive edge, and those holding back. While caution has its place, a “wait and see” approach risks being left behind as competitors optimize their hiring processes with AI.

4. Generative AI Has Created New Challenges

  • The rapid rise of tools like ChatGPT has sparked ethical and compliance concerns, slowing adoption in some firms.

While some applications of AI are undeniably complex, not all tools come with high risks. Solutions like automated interview scheduling or candidate scoring are low-risk, high-reward areas where firms can start seeing immediate benefits without ethical complications.

5. AI Budgets Are Holding Steady—or Growing

  • 70% of companies are maintaining or increasing their AI budgets.

The message here is clear: AI isn’t going anywhere. The technology will soon become standard in recruitment, making AI literacy an essential career development priority. Recruiters who embrace AI now will position themselves ahead of the curve as this trend accelerates.

The Bottom Line: Quality of Hire Is at the Heart of It All

Every insight from this study ties back to one critical goal: improving quality of hire. For financial services, where the cost of a bad hire is significant, AI offers an opportunity to make smarter, faster, and more informed hiring decisions.

Whether it’s by automating repetitive tasks, scoring candidates with data-driven insights, or building a stronger business case for leadership, AI helps recruiters focus on what matters most: finding the right talent.

Scratching the Surface

The above insights are just the beginning. If you work in recruitment within the financial services sector, this report is a must-read. It covers everything from AI’s impact on metrics like cost per hire and time-to-fill to the barriers holding teams back and how to overcome them.

Download the report here to dive deeper and gain practical insights to take your talent acquisition strategy to the next level.