Goldman Sachs is collaborating with Anthropic to develop AI agents for automating tasks like accounting and client onboarding. The bank plans to launch these agents soon to improve efficiency. CEO David Solomon aims to reorganize the bank around generative AI to control headcount growth amid rising revenue. The use of AI models has caused a selloff in software stocks as investors anticipate winners and losers in the AI trade. Goldman started testing an autonomous AI coder called Devin last year and expanded its use to other areas of the bank, impressed by the capabilities of Anthropic’s AI model Claude. The firm expects automation to enhance client onboarding and accounting processes, potentially leading to developments in employee surveillance and investment banking pitchbooks. While the technology may replace some third-party providers, Goldman believes it will primarily enhance speed and client experience without resulting in job losses.

Read more at CNBC: Goldman Sachs to tap Anthropic AI model to automate accounting, compliance