- Goldman Sachs launches in-house AI tools for workers. The launch of GS AI Assistant is behind the company’s firewall for security reasons and is not expected to result in any layoffs immediately. This is to improve employee efficiency.
Goldman Sachs embraces AI, but at least for the time being, that won’t cost any worker the job.
The investment firm has launched GS AI Assistant, a program that will allow workers to talk to large language models between their departments that are fire-proofed inside Goldman Sachs, ideally eliminating the threat that sensitive data can escape into the wild. Goldman has reportedly tested the tool for more than a year, with more than 10,000 employees and nearly a quarter of Goldman’s global workforce, trying it out.
The company said in an internal memo that AI will be used for efficiency improvements. One of its tasks will be to assist in coding, act as a translation tool, and summarize as complex documents for workers.
No AI plan Replace any job At present, however, the long-term impact of the tool is somewhat hazy. Some employees expressed doubts about AI, especially Bloomberg Report In January, as many as 200,000 jobs on Wall Street could be at risk within five years due to technologies such as AI.
“People across the company are already integrating generated AI into their workflows, driving our team’s productivity and bringing benefits to our customers.” Write CIO Marco Argenti is in the process of providing internal memorandums to staff.
GS AI Assistant allows workers to access several AI chatbots, including Chatgpt and Gemini. Goldman Sachs is not the only Wall Street bank to increase its use of AI. Morgan Stanley JPMorgan Chase also provides workers with internal tools to help improve efficiency and eliminate some of the manual steps that had to be taken in the past.
