I recently read an article in a professional journal where they talked about interviewing. The author found that interviews aren't a reliable method of determining an interviewee's potential. They found that looking at data such as higher education courses taken, grades earned, GPA, etc. were better predictors of determining potential --the potential of earning X grade in the aforementioned consideration. In general, the author determined that an interviewer's "sense" that an interviewee would be a good fit for a position consistently fell short of other measurements(e.g. GPA).

But, I don't foresee many companies scrapping the traditional interview process. That being said, I'm generally awkward socially as I have social anxiety. So, I dedicate a lot of time to preparing for interviews. Going over potential questions and responses, etc. It's helped me out a lot in the past.