When it comes to deciding who I will be working with I would rather take the time (hours/days/weeks) so that that we make a fair (un-baised) decision
As for deciding to whether to evade a baseball being thrown at my head, I would prefer the faster response time. It okay to be biased against fast moving projectiles :-)
Any time you deal with people you need take the time needed to eliminate any biases that are common to many humans
Of course, first you throw out the obviously bad ones - anyone who sent a word document when they clearly asked for PDF; anyone who doesn't have an engineering degree etc. etc. That still leaves you with 500.
What do you do? This is I suppose why implicit bias training exists, so you don't go "this one's from India, the last 10 from India couldn't even spell the company name right, reject".
(The next step in the UK is, reject everyone who doesn't have a first-class degree, if that still leaves you with a long enough shortlist. No wonder students are anxious about getting a first!)
Point I'm trying to make: there's situations in hiring where the time you can take is influenced by the volume of applications.
Which model do any of us prefer in most situations: one that allows us to be right more than 50% of times done in miliseconds, or one that takes hours/days/weeks (whatever) and allows 95% of good (or fair) decisions?