Goldman Sachs is launching a Generative AI assistant for its employees as the first phase of a program designed to develop a bot that operates with the mindset of an experienced employee. The initiative has already introduced the GS AI assistant to approximately 10,000 staff members, with plans to extend access to all knowledge workers by year-end, according to CIO Marco Argenti in an interview with CNBC.
Initially, the AI assistant will assist with various tasks such as summarizing or proofreading emails and translating code between programming languages. While it can currently respond to inquiries, draft emails, and condense lengthy documents, future iterations are expected to perform complex, multistep tasks with minimal human oversight.
Argenti, who joined Goldman Sachs from Amazon in 2019, described the AI program as akin to onboarding a new employee who will gradually learn and embody the company’s culture. The assistant will primarily utilize data from the bank integrated into AI models derived from OpenAI’s ChatGPT, Google’s Gemini, and Meta’s Llama, depending on specific tasks. The bank is also exploring models from other companies like Anthropic, Mistral, and Cohere.
“The AI assistant becomes really like talking to another GS employee,” Argenti explained. “As we progress, the next step will involve developing agentic behavior, allowing the model to perform tasks similarly to a Goldman employee, rather than just being able to echo their responses.”
In practice, the AI is intended to replicate the knowledge and decision-making processes that an experienced Goldman employee would use, such as cross-referencing data or applying specific algorithms for calculations. Looking further ahead—potentially three to five years—Argenti anticipates that the model will enhance its reasoning capabilities, aligning more closely with how a Goldman employee thinks.
Goldman Sachs is part of a broader trend among Wall Street firms adopting generative AI technology. Morgan Stanley is reported to be implementing a similar initiative by providing OpenAI chatbot tools to up to 40,000 employees, while JPMorgan has introduced its own in-house Generative AI chatbot, comparing it to having a research analyst available at one’s desk. A recent Bloomberg report suggested that as intelligent robots become integral to financial firms, up to 200,000 jobs may be at risk.