Goldman Sachs rolls out an AI assistant for its employees as artificial intelligence sweeps Wall Street
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Goldman Sachs is rolling out a generative AI assistant to its bankers, traders and asset managers, the first stage in the evolution of a program that will eventually take on the traits of a seasoned Goldman employee, according to Chief Information Officer Marco Argenti. Limited time: Save 25% on NBC News subscription Get exclusive reporting, live Q&As and ad-free reading.
AI Summary
Main Idea: Goldman Sachs is rolling out an AI assistant for employees, with plans to make it smarter and more like a seasoned worker over time.
Key Points:
- The tool, called GS AI assistant, has been given to about 10,000 employees so far.
- It is meant to help with tasks like writing emails, proofreading, summarizing text, and translating code.
- Goldman’s AI uses models from OpenAI, Google, and Meta, and it may add others as the bank expands the program.
- The bank sees AI as a way to boost workers, but the move also adds to concerns that some jobs could change or disappear.
Impact on the People
Negative Impact
Goldman Sachs and JPMorgan using AI to automate more work could weaken some office and support jobs, adding pressure to workers and hiring.
Positive Impact
AI tools may speed up finance work and cut errors, which could lower costs and improve service for customers and investors.
How did each entity affect people?
Rate how each entity in this article affected the American people.
- Primary:Goldman Sachscompany
Candidate Entities12 candidates · 5 weighted vote min · 70% decision
- Goldman SachscompanyPrimaryEvaluated
Primary company in the story, rolling out the GS AI assistant to employees and driving the article’s focus.
Include 0 (0%)Ignore 0 (0%)5 to threshold - Marco ArgentipersonPrimaryAI selected
Goldman Sachs Chief Information Officer quoted at length explaining the AI rollout and the firm’s long-term vision.
Include 0 (0%)Ignore 0 (0%)5 to threshold - JPMorgan ChasecompanyMajorAI selected
Major peer bank cited as also aggressively deploying generative AI tools to its workforce.
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Major peer bank cited alongside Goldman Sachs and JPMorgan Chase in the Wall Street AI rollout trend.
Include 0 (0%)Ignore 0 (0%)5 to threshold - GooglecompanyContextCandidate
Named model provider via Gemini, mentioned as one of several AI model sources powering Goldman’s assistant.
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Named model provider via Llama, mentioned as one of several AI model sources powering Goldman’s assistant.
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Named model provider whose ChatGPT models are used in Goldman’s assistant, but only as part of background on.
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Potential model vendor mentioned as Goldman evaluates additional AI providers.
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