Wall Street is at the forefront of applying artificial intelligence technology, particularly with the rapid development of generative AI. Goldman Sachs recently announced the launch of a generative AI tool called the "GS AI Assistant," designed to help its bankers, traders, and asset managers work more efficiently. This tool has already been rolled out to about 10,000 employees and is expected to cover all knowledge workers by the end of this year.
Image Source Note: Image generated by AI, image licensed from Midjourney
Goldman Sachs' Chief Information Officer, Marco Argenti, stated that this AI assistant will be capable of handling various tasks, including drafting emails, proofreading documents, and translating code from one language to another. He emphasized that the tool has a simple interface, allowing employees easy access to the latest AI models. Argenti noted that the AI assistant will function like a new employee, gradually absorbing and learning Goldman Sachs' corporate culture over time.
This initiative by Goldman Sachs signifies that the world's three major investment banks, including JPMorgan Chase and Morgan Stanley, are actively launching generative AI tools. This trend has emerged since the rise of ChatGPT, indicating that Wall Street's acceptance of generative AI far exceeds that of other industries. Currently, this AI assistant can answer questions, draft emails, and summarize lengthy documents, but future versions will possess "autonomous capabilities," allowing them to execute multi-step tasks with minimal human intervention.
Argenti also revealed that the AI assistant will be based on Goldman Sachs' internal data, combined with models like OpenAI's ChatGPT, Google's Gemini, and Meta's Llama. He stated that as technology continues to advance, AI will not only be able to mimic the language of Goldman Sachs employees but will also gradually develop similar ways of thinking.
However, the widespread application of AI technology has raised employee concerns about job security. According to a report, global investment banks may cut up to 200,000 jobs in the next three to five years. Nevertheless, Goldman Sachs executives insist that the application of AI will make employees more efficient rather than reduce the need for human resources.
Argenti concluded that the real value still lies in people, and employees will continue to play a key role in educating and empowering AI, driving the company's growth.
Key Points:
🌟 Goldman Sachs launches AI Assistant aimed at helping employees enhance work efficiency, covering all knowledge workers.
📊 The AI Assistant can handle various tasks, including drafting emails and translating code, with plans for more advanced autonomous capabilities in the future.
💼 Although AI applications may impact job security, Goldman Sachs executives believe that AI will enhance employee capabilities rather than replace human labor.
