Goldman Sachs introduces AI assistant to employees to enhance productivity

From CNBC: 2025-01-21 09:36:21

Goldman Sachs is introducing a generative AI assistant to its employees, with the goal of having all knowledge workers equipped this year. The assistant will help with tasks like summarizing emails and translating code. The AI is expected to evolve to perform multi-step tasks without much human intervention.

The world’s top three investment banks, including Goldman Sachs, are aggressively implementing generative AI tools for their employees. Large language models are adept at replicating aspects of human cognition, such as responding to queries, writing emails, and summarizing documents. Future versions are expected to exhibit “agentic” abilities.

Goldman’s Chief Information Officer envisions the AI assistant becoming more like a seasoned employee in the future, absorbing the company’s culture and working like a Goldman employee. The AI currently utilizes models from OpenAI, Google, and Meta, with plans to incorporate models from other companies.

The AI assistant at Goldman is designed to mirror the behavior of experienced employees, completing tasks and generating detailed plans in a similar manner. The technology is expected to blur the lines between human and machine thinking in the next few years, potentially creating new roles while augmenting existing ones.

Major investment banks like JPMorgan and Morgan Stanley are providing generative AI tools to their entire workforce. The adoption of AI in finance and technology industries may lead to job disruptions, with up to 200,000 jobs at global investment banks at risk in the next three to five years. However, Goldman Sachs believes AI will empower employees rather than replace them.

Read more: Goldman Sachs launches AI assistant as the tech sweeps banking