Goldman Sachs has introduced the GS AI Assistant, an internal AI tool designed to boost employee efficiency across its divisions while maintaining data security. The tool, which has been tested by over 10,000 employees, aims to assist with tasks like coding, translating languages, and summarizing complex documents. Although there are currently no plans for significant job cuts, some employees express skepticism about AI's long-term impact on employment, particularly in light of predictions of potential job losses in the finance sector due to automation and AI advances. Other banks are also adopting similar technologies.
Goldman Sachs has launched the GS AI Assistant, an internal AI tool intended to improve efficiency without causing immediate layoffs among its workforce.
The AI tool, tested by a quarter of Goldman’s workforce, is designed to assist in coding, translations, and summarizing complex documents.
CIO Marco Argenti emphasized that employees are already integrating generative AI into their workflows to drive productivity gains and improve client service.
Despite the introduction of AI, employee skepticism persists, especially after predictions that up to 200,000 Wall Street jobs could be at risk due to new technologies.
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